Commentary & Deal Flow

Reoffer: 7NC6: MS+98bp / 99.448 / 4.231%
Benchmark: 7NC6: DBR 1.7 15-Aug-32 @ 92.480 / B+112.7bp

Tranche 1 (7NC6): Final books above €1.35bn. Peak book > €2bn (pre-rec)

Launched: 7NC6: €600m @ MS+98bp - Books > €2bn (pre-rec)
Book Update: 7NC6: Books > €1.75bn
IPTs: 7NC6: MS+125a

• Issuer: Eurobank S.A. (EUROB)
• LEI: 213800KGF4EFNUQKAT69
• Issuer Ratings: Baa1 negative (Moody's) / BBB- positive (S&P) / BBB stable (Fitch) / BBBH stable (Morningstar DBRS)
• Expected Issue Ratings: Baa1 (Moody's) / BBB- (S&P) / BBB (Fitch) / BBBH (Morningstar DBRS)
• Description: EUR Fixed Rate Callable Green Senior Preferred Instruments due September 2033 (the "Instruments")
• Status: Direct, unconditional, unsubordinated and unsecured obligations of the Issuer
• Waiver of Set-off: Applicable
• Contractual Recognition of Statutory Loss Absorption Powers: Each Holder acknowledges and agrees to be bound by the exercise of any Statutory Loss Absorption Powers by the Relevant Resolution Authority
• Currency: €
• Size: €600m
• Format: 7-Year Non Call 6-Year, Bearer, NGN
• Pricing Date: 1-Sep-26
• Settlement Date/Issue Date: 8-Sep-26 (T+5)
• Issuer Call and Optional Redemption Date: The Issuer may, subject to Condition 5.13, redeem all (but not some only) of the Instruments on 8-Sep-32 ("Optional Redemption (Call) Date") at the principal amount ("Early Redemption Amount (Call)") together with any accrued and unpaid interest
• Maturity Date: 8-Sep-33
• Reset Date: 8-Sep-32
• Reset Determination Date: The date falling two Business Days prior to the Reset Date
• Business Days: T2
• Re-offer: MS+98bp / 4.231% / 99.448
• Benchmark: DBR 1.7 15-Aug-32 @ 92.480 / B+112.7bp
• Coupon: Fixed rate of 4.125% p.a. payable annually in arrear on each Interest Payment Date up to and including the Reset Date; reset with effect from the Reset Date to a fixed rate equal to the sum of the 1-year mid-swap rate prevailing at the Reset Determination Date plus the Reset Margin (no step-up)
• Interest Payment Dates: On 8 September each year, commencing on 8-Sep-27
• Day Count Fraction: Act/Act (ICMA) unadjusted / following
• Final Redemption Amount: 100% of Principal Amount
• Use of Proceeds: The net proceeds from the issue of the Notes will be used to finance or re-finance, in whole or in part, Eligible Green Assets, in each case as determined by the Issuer in accordance with the Eligible Green Assets set out in the Green Bond Framework available on Eurobank's website (https://www.eurobank.gr/en/group/investor-relations/debt-investors/green-bond-framework) and in effect at the time of issuance of the Green Bonds
• Clean-up Call: Applicable. Subject to Condition 5.13, if the Clean-up Call Minimum Percentage (or more) of the principal amount outstanding of the Instruments originally issued have been redeemed or purchased and subsequently cancelled, the Issuer may, at any time and in its sole discretion, redeem, purchase or procure the purchase of the Instruments in whole (but not in part) at the Clean-up Call Option Amount, together with any accrued and unpaid interest to but excluding the redemption date
• Clean-up Call Minimum Percentage: 75%
• Clean-up Call Option Amount: 100%
• Early Redemption: If an MREL Disqualification Event has occurred and is continuing at any time from and including the Issue Date, or due to a change in taxation laws there is an imposition of additional amounts, the Instruments may be redeemed at the option of the Issuer at any time in whole, but not in part, at the principal amount ("Early Redemption Amount (MREL Disqualification Event)" and "Early Redemption Amount (Tax)", respectively), together with any accrued and unpaid interest, subject to Condition 5.13
• Events of Default: Restricted Default Events apply
• Substitution and Variation: If an MREL Disqualification Event occurs or in order to ensure the effectiveness and enforceability of Condition 17, the Issuer may substitute the Instruments, or vary the terms of such Instruments (including, without limitation, changing the governing law of Condition 17), so that the relevant Instruments once again become or remain Qualifying Senior Preferred Instruments, subject to Condition 5.13, provided that such variation or substitution does not give rise to any right of the relevant Issuer to redeem the varied or substituted Instruments
• Minimum Denomination / Increment: €100,000 and integral multiples of €1,000 in excess thereof
• Listing: Luxembourg Stock Exchange (Euro MTF)
• Governing Law: English law, save for Condition 3, Condition 17 and Condition 18, which shall be governed by, and construed in accordance with, the laws of the Hellenic Republic
• Target Market (MiFID II/UK MiFIR)/PRIIPs: Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EEA PRIIPs key information document (KID) or UK PRIIPs KID/CCI product summary has been prepared as not available to retail in EEA or the UK
• Documentation: €10,000,000,000 EMTN Programme for the Issuance of Debt Instruments dated 20-Oct-25, as supplemented on 19-Dec-25, 11-Mar-26, 12-May-26 and 27-Aug-26, with standard conditions precedent as per EMTN Programme
• Distribution: Reg S, Category 2, Tefra D rules apply, no communications with or into the US or Canada (excluding Alberta, British Columbia and Ontario)
• Settlement: Euroclear / Clearstream
• Stabilisation: ICMA/FCA
• Sole Green Structurer: HSBC
• Bookrunners: Barclays (B&D), Commerzbank AG, HSBC, Natixis, Societe Generale
• ISIN / Common Code: XS3489639370 / 348963937
• Advertisement: The Offering Circular and any Supplements relating to the Notes are available at https://www.eurobank.gr/en/group/investor-relations/debt-investors/emtn-programme/euro-medium-term-note-programme. The Final Terms, when published, will be available at https://www.luxse.com/issuer/Eurobank/100320
• Green Bond Framework / SPO:
  • Green Bond Framework: https://www.eurobank.gr/-/media/eurobank/omilos/enimerosi-ependuton/enimerosi-metoxon-eurobank/pistotikoi-titloi/green-bond-framework/green-bond-framework-july-2026.pdf
  • SPO: https://www.eurobank.gr/-/media/eurobank/omilos/enimerosi-ependuton/enimerosi-metoxon-eurobank/pistotikoi-titloi/green-bond-framework/eurobank-spo-july-2026.pdf
• Link: www.netroadshow.com/nrs/home/#!/?show=5c185ef1 or visit www.netroadshow.com and enter the entry code: Eurobank2026
• Timing: ToE 14h50 UKT | FTT 15h15 UKT / 16h15 CET