Commentary & Deal Flow

Launched: 8yr: €300m @ MS+33bp - Orderbooks in excess of €500m (incl. €125m JLM interest)
Spread set at: 8yr: MS+33bp
Guidance: 8yr: MS+36a

• Issuer: Oberbank AG
• LEI: RRUN0TCQ1K2JDV7MXO75
• Issuer Rating: A- (stable) (S&P)
• Exp. Issue Rating: AAA (S&P)
• Rating Split: Issuer: A- (stable) (S&P), Issue: AAA (S&P)
• Issuer Type: Mortgage Covered Bond (Hypothekenpfandbrief), European Covered Bond (Premium)
• Format: Reg S (bearer form)
• Size: €300m
• Ranking: Covered Bond
• Maturity Type: Soft Bullet
• Ext. Maturity Date: 11-Sep-35
• Coupon: Fixed, annual, Act/Act ICMA, unadjusted
• Denominations: €100,000 + €100,000
• Listing/Law: Vienna Stock Exchange – Official Market (Amtlicher Handel) / Austrian Law
• Joint Bookrunners: DekaBank, DZ Bank, Erste Group, Helaba (B&D)
• Target Market: Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU or UK PRIIPs key information document (KID) has been prepared.
• Fees: The Joint Bookrunners will be paid a fee by the Issuer in relation to the transaction.
• Advertisement: Oberbank's Debt Issuance Programme, Base Prospectus dated 17-Dec-25 as supplemented is available on the following: (https://www.oberbank.at/documents/20195/21719/wp_Basisprospekt2025_2.pdf)
• Books Subject Deadline: 10.45 UKT / 11.45 CET
• Schedule: Books open, today's business
• Settle: 11-Sep-26 (T+7)