Commentary & Deal Flow

Reoffer: 3yr: MS+45bp / 99.939 / 3.772% 6yr: MS+80bp / 99.745 / 4.174% 8yr: MS+100bp / 99.722 / 4.417% 12yr: MS+125bp / 99.856 / 4.766% 20yr: MS+170bp / 99.538 / 5.288%
Benchmark: 3yr: OBL 2.1% 12-Apr-29 #189 @ 97.58% / B+68.6bp 6yr: DBR 1.7% 15-Aug-32 @ 91.93% / B+95.7bp 8yr: DBR 2.6% 15-Aug-34 @ 94.89% / B+107.3bp 12yr: DBR 1.0% 15-May-38 @ 75.795% / B+119.5bp 20yr: DBR 2.5% 15-Aug-46 @ 81.80% / B+146.7bp

Allocations out: Allocations out on the system
Launched:
3yr: €750m @ MS+45bp
6yr: €1bn @ MS+80bp
8yr: €1bn @ MS+100bp
12yr: €1bn @ MS+125bp
20yr: €750m @ MS+170bp
Spread set at: 3yr: MS+45bp 6yr: MS+80bp 8yr: MS+100bp 12yr: MS+125bp 20yr: MS+170bp
IPTs: 3yr: MS+75/80bp 6yr: MS+110/115bp 8yr: MS+130/135bp 12yr: MS+155/160bp 20yr: MS+200a

• Issuer: Uber Technologies, Inc. (Ticker: UBER; Country: US)
• LEI: 549300B2FTG34FILDR98
• Current Issuer Ratings:* Baa1 (Positive) / BBB+ (Positive) / A- (Stable) │ (Moody’s / S&P / Fitch)
• Expected Issue Ratings:* Baa1 / BBB+ / A- │ (Moody’s / S&P / Fitch)
• Format: Senior Unsecured Notes
• Settlement:** 15-Sep-26 (T+4)
• Size:
  • 3yr: EUR 750mm
  • 6yr: EUR 1bn
  • 8yr: EUR 1bn
  • 12yr: EUR 1bn
  • 20yr: EUR 750mm
• Maturity:
  • 3yr: 15-Sep-29
  • 6yr: 15-Sep-32
  • 8yr: 15-Sep-34
  • 12yr: 15-Sep-38
  • 20yr: 15-Sep-46
• Coupon:
  • 3yr: 3.750% Fixed, Annual,ACT/ACT (ICMA)
  • 6yr: 4.125% Fixed, Annual,ACT/ACT (ICMA)
  • 8yr: 4.375% Fixed, Annual,ACT/ACT (ICMA)
  • 12yr: 4.750% Fixed, Annual,ACT/ACT (ICMA)
  • 20yr: 5.250% Fixed, Annual,ACT/ACT (ICMA)
• Yield:
  • 3yr: 3.772%
  • 6yr: 4.174%
  • 8yr: 4.417%
  • 12yr: 4.766%
  • 20yr: 5.288%
• Price:
  • 3yr: 99.939%
  • 6yr: 99.745%
  • 8yr: 99.722%
  • 12yr: 99.856%
  • 20yr: 99.538
• Spread:
  • 3yr: MS+45bps
  • 6yr: MS+80bps
  • 8yr: MS+100bps
  • 12yr: MS+125bps
  • 20yr: MS+170bps
• Bund Reference:
  • 3yr: OBL 2.1% 12-Apr-29 #189 +68.6bps Price: 97.58% / Yield: 3.086% HR: 116%
  • 6yr: DBR 1.7% 15-Aug-32 +95.7bps Price: 91.93% / Yield: 3.217% HR: 103%
  • 8yr: DBR 2.6% 15-Aug-34 + 107.3bps Price: 94.89% / Yield: 3.344% HR: 99%
  • 12yr: DBR 1.0% 15-May-38 +119.5bps Price: 75.795% / Yield: 3.571% HR: 111%
  • 20yr: DBR 2.5% 15-Aug-46 +146.7bps Price: 81.80% / Yield: 3.821% HR: 100%
• MWC:
  • 3yr: Yes B+15
  • 6yr: Yes B+15
  • 8yr: Yes B+20
  • 12yr: Yes B+20
  • 20yr: Yes B+25
• Change of Control:
  • 3yr: Yes
  • 6yr: Yes
  • 8yr: Yes
  • 12yr: Yes
  • 20yr: Yes
• Par Call:
  • 3yr: Yes, 1-month
  • 6yr: Yes, 2-months
  • 8yr: Yes, 3-months
  • 12yr: Yes, 3-months
  • 20yr: Yes, 6-months
• ISIN / Common Code:
  • 3yr: XS3498991671 / 349899167
  • 6yr: XS3498991911 / 349899191
  • 8yr: XS3498992059 / 349899205
  • 12yr: XS3498992133 / 349899213
  • 20yr: XS3498992216 / 349899221
• TOE:
  • 3yr: 16:24 UKT / 17:24 CET
  • 6yr: 16:23 UKT / 17:23 CET
  • 8yr: 16:22 UKT / 17:22 CET
  • 12yr: 16:21 UKT / 17:21 CET
  • 20yr: 16:20 UKT / 17:20 CET
• Docs: SEC Registered / New York Stock Exchange Listing / New York Law
• Clearing: Euroclear and Clearstream
• Denominations: €100,000 x €1,000
• Selling Restrictions: As per Uber Technologies, Inc.’s Preliminary Prospectus Supplement
• UoP: Uber Technologies, Inc. intends to use the net proceeds from this offering for general corporate purposes
• Marketing: eRed
• Sales into Canada: Yes, via exemption
• Sales into Japan: Yes, via exemption
• Stabilization: FCA/ICMA
• Target Market: MiFID II and UK MiFIR professionals / ECPs-only / No PRIIPs KID or DISC Disclosure Document
• Joint Book-Running Managers: Goldman Sachs & Co. LLC (B&D) / BNP Paribas / BofA Securities / Deutsche Bank / Morgan Stanley
• Timing: Priced. FTT: 7:45 UKT