Commentary & Deal Flow

Tranche 1 (3yr): Final book above €2.4bn at reoffer (incl. €305m JLM). Peak book above €2.5bn pre-rec (incl. €305m JLM)

Launched: 3yr: €800m @ MS+17bp - Books above €2.5bn pre-rec (incl. €305m JLM)
Book Update: Books above €1.75bn (incl. €255m JLM)
Guidance: 3yr: MS+24a

• Issuer: Korea Housing Finance Corporation (“KHFC” or the “Issuer”)
• Issuer Ratings (M/S): Aa2 / AA (All Stable) (Moody's/S&P)
• Exp. Issue Ratings: Aaa / AAA (Moody's/S&P)
• Security Type: Statutory Covered Bond under the KHFC Act (drawdown from KHFC’s US$15bn Global Covered Bond Programme)
• Format: Reg S, Registered form, Category 2
• Issue Size: €800m
• Spread set at: MS+17bp
• Settlement: 01-Sep-26 (T+5)
• Maturity: 01-Sep-29, hard bullet
• Coupon: Fixed Rate, Annual Act/Act
• Terms: 100k/1k Denoms, English Law
• Listings: SGX-ST, Frankfurt Stock Exchange and Euro MTF (Luxembourg Stock Exchange) (expected)
• JLMs: BNP (B&D), Crédit Agricole CIB, DZ Bank, ING, Natixis, and Societe Generale
• UoP: An amount equal to the net proceeds from the issue of the Covered Bonds will be used by the Issuer to finance and/or refinance, in whole or in part, new or existing eligible social project categories meeting the eligibility criteria set out in the Issuer’s Sustainable Financing Framework dated Feb-26 (which is available on the Issuer’s website)
• Netroadshow Link: https://dealroadshow.finsight.com | KHFC2026 (Direct Link: https://dealroadshow.finsight.com/e/KHFC2026)
• Sustainable Financing Framework: https://www.hf.go.kr/en/sub06/sub06_06_02.do
• Timing: Books Open, Today's business
• Books subject: 12.30 CET
• Reg S: ISIN: XS3465646365 | Common Code: 346564636
• LEI: 9884002AAOBT56QW9B80