Commentary & Deal Flow

Tranche 1 (6NC5): Final book above €1.25bn (Excl. JLM). Peak book above €1.45bn (excl. JLM) pre-rec

Launched: 6NC5: €500m @ MS+130bp - Books above €1.45bn (excl. JLM) pre-rec
Book Update: 6NC5: Orderbooks above €1bn (Excl. JLMs)
IPTs: 6NC5: MS+150/155bp

• Issuer: Volksbank Wien AG
• Issuer LEI: 529900D4CD6DIB3CI904
• LT Deposit Rating/ LT Issuer Default Rating: A2 (negative) by Moody's/ BBB (stable) by Fitch
• LT Senior Unsecured Debt Rating: A3 (negative) by Moody's
• Expected Issue Ratings: Baa2 by Moody's
• Status: The Notes constitute direct and unsecured obligations of the Issuer and shall qualify as eligible liabilities (within the meaning of Article 72a (1) lit a and Article 72b CRR) of the Issuer for the MREL Requirement, provided that in the event of normal insolvency proceedings (bankruptcy proceeding) of the Issuer, claims under the Notes rank: junior to all other present or future unsecured and unsubordinated instruments or obligations of the Issuer which do not meet the criteria for debt instruments pursuant to § 131(3)(1) to (3) BaSAG; pari passu: (i) among themselves; and (ii) with all other present or future non-preferred senior instruments or obligations of the Issuer which meet the criteria for debt instruments pursuant to § 131(3)(1) to (3) BaSAG (other than senior instruments or obligations of the Issuer ranking or expressed to rank senior or junior to the Notes); and senior to all present or future claims under: (i) ordinary shares and other Common Equity Tier 1 instruments pursuant to Article 28 CRR of the Issuer; (ii) instruments of participation capital pursuant to § 23 (4) and (5) BWG in the version prior to the entry into force of the CRR of the Issuer; Additional Tier 1 instruments pursuant to Article 52 CRR of the Issuer; Tier 2 instruments pursuant to Article 63 CRR of the Issuer; and (v) all other subordinated instruments or obligations of the Issuer.
• Form: Bearer Notes, digital Global Note
• Size: €500m
• Spread Set: MS+130bp
• Trade/Pricing Date: 02-Sep-26
• Settlement Date: 09-Sep-26 (T+5)
• Optional Redemption Date / Interest Rate Change Date: 09-Sep-31
• Maturity Date: 09-Sep-32
• Early Redemption at the Option of the Issuer: Notice of redemption at least 5 Business Days prior to Optional Redemption Date (subject to conditions set out in the Prospectus)
• Interest: From and including the Settlement Date to but excluding the Interest Rate Change Date: [•] % per annum, payable annually, commencing on 09-Sep-27 act/act (ICMA) / following / unadjusted. From and including the Interest Rate Change Date to but excluding the Maturity Date: 3-month Euribor plus [•] % per annum, payable quarterly, commencing on 09-Dec-31 act/360 / modified following / adjusted.
• Business Days: T2
• No set-off: No Noteholder may set off any claims arising under the Notes against any claims that the Issuer may have against it
• Early Redemption for Regulatory Reasons or Reasons of Taxation: Notice of redemption not less than 30 days' nor more than 60 days' (subject to conditions set out in the Prospectus)
• Denoms / Listing / Law: €100k+€100k / Vienna Stock Exchange – Official Market (Amtlicher Handel) / Austrian
• Clearing and Settlement: OeKB CSD GmbH / Euroclear / Clearstream
• ISIN: AT000B122460
• Documentation: Volksbank Wien's base prospectus relating to the Debt Issuance Programme dated 19-May-26 (the "Prospectus")
• Use of Proceeds: Financing and/or re-financing, in part or in full, new or existing eligible loans providing distinct environmental benefits (Eligible Green Categories), as further described in the Sustainability Bond Framework
• Selling restrictions: As set out in the Prospectus
• Target Market: Client category: eligible counterparties and professional clients only. No sales to retail in EEA or the United Kingdom. No EU PRIIPs KID or disclosure document required by the FCA Product Disclosure Sourcebook (“DISC”) will be prepared.
• Advertisement: The Base Prospectus and any supplements thereto will be available at: https://www.volksbankwien.at/ boersen_und_maerkte/basisprospekt_eng.page??main=
• Joint Lead Managers: ABN AMRO, Danske Bank (B&D), Erste Group, Morgan Stanley, Natixis, Raiffeisen Bank International
• Timing: Books open. Today's business.
• Books Subject: 13:00 CET
• Hedge Deadline: 15.15 CET
• Benchmark: HR 105% vs OBL 2 ½ 16-Apr-31