Commentary & Deal Flow

Reoffer: 3.5yr: MS+50bp / 99.96 / 3.818% 5.5yr: MS+70bp / 99.962 / 4.052% 9.5yr: MS+95bp / 99.909 / 4.39%
Benchmark: 3.5yr: OBL 2.5 11-Oct-29 #190 @ 98.283 / B+72.6bp / HR 111% 5.5yr: DBR 0 15-Feb-32 @ 84.334 / B+86.4bp / HR 108% 9.5yr: DBR 2.9 15-Feb-36 @ 96.03 / B+99.3bp / HR 98%

Tranche 1 (3.5yr): Peak book above €1.85bn
Tranche 2 (5.5yr): Peak book above €2.60bn
Tranche 3 (9.5yr): Peak book above €2.45bn

Launched:
3.5yr: €700m @ MS+50bp - Books above €1.85bn
5.5yr: €800m @ MS+70bp - Books above €2.60bn
9.5yr: €525m @ MS+95bp - Books above €2.45bn
Book Update: Combined Books c. €7bn (pre-rec)
IPTs: 3.5yr: MS+80a 5.5yr: MS+100a 9.5yr: MS+125a

• Issuer: Parker-Hannifin Corp.
• Ticker: PH
• Country: US
• Issuer LEI: 5493002CONDB4N2HKI23
• Issuer Ratings (M/S/F): A3 (Stable) / BBB+ (Positive) / A- (Stable)
• Exp. Issue Ratings (M/S/F)*: A3 / BBB+ / A-
• Ranking: Senior Unsecured
• Format: SEC Registered / Euronext Dublin (Global Exchange Market) / New York Law
• Settlement: 14-Sep-26 (T+3)
• Size:
  • 3.5yr: €700m
  • 5.5yr: €800m
  • 9.5yr: €525m
• Maturity Date:
  • 3.5yr: 1-Mar-30
  • 5.5yr: 3-Mar-32
  • 9.5yr: 5-Mar-36
• Coupon:
  • 3.5yr: 3.8% Fixed, Annual, ACT/ACT (ICMA) (Short first)
  • 5.5yr: 4.04% Fixed, Annual, ACT/ACT (ICMA) (Short first)
  • 9.5yr: 4.375% Fixed, Annual, ACT/ACT (ICMA) (Short first)
• Optional Redemption:
  • 3.5yr: MWC B+15 / 1-Month Par Call
  • 5.5yr: MWC B+15 / 2-Month Par Call
  • 9.5yr: MWC B+15 / 3-Month Par Call
• ISIN / Common Code:
  • 3.5yr: XS3498804585 / 349880458
  • 5.5yr: XS3498804668 / 349880466
  • 9.5yr: XS3498804825 / 349880482
• Clearing: Euroclear and Clearstream
• Denominations: €100k x €1k
• Selling Restrictions: As per Parker-Hannifin Corp’s Preliminary Prospectus Supplement dated 9-Sep-26
• UoP: Together with the net proceeds from the USD Offering and cash on hand, to repay the borrowings under the 364-Day Credit Agreement incurred in connection with the FGC Acquisition
• Marketing: Link: www.netroadshow.com/nrs/home/#!/?show=a118b30e| Entry Code: PH2026
• Sales into Canada: Yes, via exemption
• Stabilization: Relevant stabilization regulations including FCA/ICMA apply
• Target Market:** Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or UK
• Joint Books:
  • 3.5yr: Barc (B&D), Citi, MS, WFS
  • 5.5yr: Barc (B&D), Citi, MS, HSBC
  • 9.5yr: Barc (B&D), Citi, MS, HSBC
• Timing: PRICED. TOE 15.40 UKT / 16.40 CET FTT TBC