Commentary & Deal Flow

Tranche 1 (long 10yr): Final books in excess of €3.3bn (incl. €250m JLM). Peak book in excess of €3.3bn (incl. €250m JLM).

Launched: long 10yr: €1bn @ OAT+12bp - Books in excess of €3.1bn (incl. €250m JLM)
Size set at: long 10yr: €1bn
Rev Guidance: long 10yr: OAT+13a - Books in excess of €2.8bn (incl. €250m JLM)
Guidance: long 10yr: OAT+15a

• Issuer: Ile-de-France Mobilités
• LEI: 969500A5KNK9VZQKNQ79
• BBG Ticker: IDFMOB Govt
• Format: Reg S, Bearer dematerialised
• Status: 0% Risk Weighting, HQLA 1
• Issuer Rating: Aa3 (neg) / A+ (stab) (Moody's/Fitch)
• Settlement: 1-Sep-26 (T+5)
• Maturity: 25-Jan-37
• Size: €1bn
• Final Spread: OAT interp (mid) +12 bps
• Benchmark: FRTR 3.70% 25-Nov-36 and FRTR 3.80% 25-Jun-37
• Hedge Ratio: 102% vs FRTR 3.7% 25-Nov-36
• Hedge Deadline: 14.50 CET / 13.50 UKT
• Coupon: Fixed, Annual, Act/Act ICMA, short first coupon
• ISIN: FR001401AO54
• Law/Listing: French / Paris
• Denominations: €100k+100k
• Target Market: Manufacturer target market (MIFID II product governance) is professional investors and eligible counterparties only (all distribution channels).
• Docs: Under the Issuer’s EMTN Programme date 24-Sep-25 and Supplemented on 23-Jan-26 and on 17-Jul-26
• Joint Leads: BNPP, CACIB, ING, Natixis, Santander (B&D)
• Schedule: Books to close 11:00 UKT / 12:00 CET
• UoP: An equivalent amount of 100% of the proceeds will be used to finance or re-finance EU Taxonomy-aligned assets and expenditures that contribute to the EU environmental objective of climate change mitigation.
• Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The prospectus, any supplements and the final terms will be available on the website of the Issuer (https://www.iledefrance-mobilites.fr/en/decouvrir/investisseurs) and on the website of the Autorité des marchés financiers (http://www.amf-france.org)
• Programme: EMTN Programme
• Stabilisation: FCA/ICMA Stabilisation
• Regulatory Treatment: In July 2026, the French Prudential Supervision and Resolution Authority officially reclassified the debt of Ile-de-France Mobilités, aligning its regulatory treatment with French sovereign debt. IDFM is now considered HQLA level 1, 0% RW.
• Press Release on Updated Regulatory Treatment: https://www.iledefrance-mobilites.fr/medias/portail-idfm/cKI0Zo_HHDvd9xgu_20260727-CPACPRvuTSEN.pdf
• Investor Presentation: https://www.iledefrance-mobilites.fr/medias/portail-idfm/Gc7ZqdFYTQ8UYIZo_Pr%C3%A9sentationpageinvestisseurAugust2026.pdf
• EuGB Factsheet 2026: https://www.iledefrance-mobilites.fr/medias/portail-idfm/aYnxQd0YXLCxVnsq_IDFMEuGBFiched%27information2026codeISIN.pdf