Form of Notes: Senior Unsecured, Green Bond, Reg S Bearer dematerialized, Cat 2
Pricing Date: 15-Sep-26
Settlement Date: 22-Sep-26 (T+5)
Issue Type: 6-year Fixed
Maturity Date: 22-Sep-32
Size: €300m WNG
Coupon: Fixed, Annual, ACT/ACT (ICMA)
Business Days: T2
Use of Proceeds: An amount equal to the net proceeds of the issue of the Notes will be applied towards financing and/or refinancing Eligible Green Projects, as further described in the Issuer’s Green Finance Framework (as amended from time to time). Refer to Base Listing Particulars for further information.
Early Redemption: Tax Call (Par) / Issuer Residual Call (75%) / MWC (Bund) / 3-month Par Call
Put Options: Change of Control Put (Par) / Asset Sale Put (Par)
Documentation: The Issuer’s Base Listing Particulars in relation to its EMTN Programme dated 03-Nov-25, as supplemented by the first supplement dated 31-Aug-26, and the second supplement dated 07-Sep-26 (“Base Listing Particulars”). Capitalised terms used in this document and not defined herein, shall have the same meaning as those terms are used in the Base Listing Particulars
Financial Covenants: Debt incurrence permitted when: (1) Net Debt / Total Assets ≤ 60% (2) Secured Debt / Total Assets ≤ 40% (3) Consolidated Coverage Ratio ≥ 1.5x (4) Unencumbered Assets Test ≥ 150%
Other Covenants: Restrictions on Transfers, Sales or Disposals to Affiliate Investment Vehicle; provision of financial information; negative pledge; Payment Restrictions in respect of Subordinated Obligations
Denominations: €100k + €1k
Listing: Euronext Dublin – Global Exchange Market (Unregulated market)
ISIN: XS3506252678
Governing Law: English law
Sole Global Co-Ordinator, and Active Bookrunner: Morgan Stanley (B&D)
Active Joint Bookrunners: BNP Paribas, Crédit Agricole CIB and Natixis
Target Market and PRIIPs: Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs Key Information Document (“KID”) or UK PRIIPs (KID) / CCI product summary has been prepared as not available to retail in the EEA or in the UK
Offer and Sales Restrictions: As set out in the Base Listing Particulars
Clearing Systems: Euroclear and Clearstream, Luxembourg
Stabilisation: Relevant stabilisation regulations including FCA/ICMA will apply