Commentary & Deal Flow

Short 5yr: Final Books €1.92bn (post-reconciliation) (incl. €455m JLM). Peak book above €2.5bn (pre-reconciliation) (incl. €455m JLM)

Spread set at: Short 5yr: MS+13bp - Books above €2.5bn (incl. €455m JLM)
Book Update: Books above €2bn (incl. €455m JLM interest)
Guidance: Short 5yr: MS+20a

• Issuer: DZ HYP AG
• Ticker: DZHYP
• Issue Type: Mortgage Pfandbrief, European Covered Bond (Premium)
• Format: Reg S, bearer Tefra C
• Expected Issue Rating: Aaa/AAA (Moody's/S&P)
• Size: €500m (no-grow)
• Coupon: [] fixed, annual act/act ICMA 251, short first cpn
• Value Date: 10-Sep-26 (T+5)
• Maturity Date: 30-Jun-31
• Benchmark: OBL 04/31 (DE000BU25067) / HR 104%
• Hedge Deadline: 15:10 CEST
• Leads: CACIB, Deutsche Bank, DZ BANK (B&D), Helaba, Standard Chartered Bank AG, Swedbank
• Listing: Hamburg Stock Exchange (Regulated market)
• Denoms/Law: €1k + 1k, German
• ISIN/WKN/Series: DE000A4DFKV8 / A4DFKV8 / 1290
• Target Market: The target market for the bonds is eligible counterparties, professional clients and retail clients, each as defined in MiFID II & UK MiFIR (all channels for distribution of the bonds are appropriate).
• Advertisement: The Prospectus dated 11-May-26 is available at https://www.luxse.com/programme/Programme-DZHyp/12937 and the Final Terms, when published, will be available at https://www.dzhyp.de/en/investor-relations/informations-for-investors/debt-issuance-programme/
• Public offer restrictions: Public offer (retail) may be made in Luxembourg and Germany during the Offer Period on 9 and 10-Sep-26. Elsewhere in the EEA subject to any national restrictions on offers in such EEA states, offers to qualified investors (as defined in the Prospectus Regulation) may be made. See Prospectus and Final Terms for further details.
• Timing: Books open, today's business
• Books Subject: 10:50 LDN / 11:50 CET