Commentary & Deal Flow

Launched: 6yr: €500m @ MS+75bp - Book above €2bn (pre rec) at guidance

Spread set at: 6yr: MS+75bp - Book above €2bn (pre rec) at guidance

Guidance: 6yr: MS+80a - Book above €2.2bn (pre rec)

IPTs: 6yr: MS+110a

• Issuer: Cofiroute
• LEI: 213800CP8292W9E8LJ69
• Issuer Rating: A- (Stable) by S&P
• Expected Issue Rating: A- by S&P
• Format: Senior Unsecured, Reg S Bearer Cat 2, Dematerialised Notes
• Size: €500m
• Ranking: Senior Unsecured
• Global Coordinators: Crédit Agricole CIB, HSBC
• Active Bookrunners: Crédit Agricole CIB, HSBC (B&D), IMI-Intesa Sanpaolo, ING, J.P. Morgan, SMBC, UniCredit
• Pricing Date: 26-Aug-26
• Settlement: 2-Sep-26 (T+5)
• Maturity: 2-Feb-33 (long 6-year)
• Coupon: Fixed, Annual, Act/Act ICMA, Short First
• Make-Whole Call: +[•]bps
• ISIN: FR001401AO88
• Docs: EMTN Programme / CoC (Put) / 3m Par Call / Clean-Up call (75%) / Luxembourg Listing / French law / MWC
• Clearing: Euroclear / Clearstream
• Denominations: €100,000 + 100,000
• UoP: General corporate purposes
• Target Market: The manufacturer target market (MIFID II/UK MIFIR product governance) is eligible counterparties and professional investors (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom
• Selling Restrictions: As set out in the Base Prospectus dated 16-Jul-26
• Advertisement: The Base Prospectus and the Final Terms, when available, will be published on the website of the Luxembourg Stock Exchange (www.luxse.com)
• Timing: Today's business
• Books Subject: 12.20 UKT