Commentary & Deal Flow

Reoffer: 7yr: MS+73bp / 99.982 / 4.253%
Benchmark: 7yr: DBR 2.6% 15-Aug-33 @ 95.065 / B+83.9bp

Tranche 1 (7yr): Final Books above €1.8bn. Peak book above €2.4bn

Launched: 7yr: €300m @ MS+73bp - Books above €2.4bn (good at guidance)
Guidance: 7yr: MS+80a - Books above €2.3bn
IPTs: 7yr: MS+110a

• Issuer: Saab AB (Ticker: SAABAB)
• Issuer LEI: 549300ZHO4JCQQI13M69
• Issuer Rating: BBB+, stable outlook by S&P
• Expected Issue Rating: BBB+ by S&P
• Status: Senior Unsecured
• Format: Reg S, Bearer, New Global Note
• Settlement: 23-Sep-26 (T+5)
• Tranche: 7-year
• Maturity: 23-Sep-33
• Size: €300m
• Reoffer: MS+73bp / 99.982 / 4.253%
• BMK: DBR 2.6% 15-Aug-33 @ 95.065 / 3.414% / B+83.9bp (HR: 101%)
• Coupon: 4.25% Fixed Annual Actual/Actual (ICMA)
• Par Call: 3m par call
• ISIN: XS3515071101
• UoP: General corporate purposes
• Listing: Euronext Dublin (Global Exchange Market)
• Docs/Denoms: EMTN / 100k+1k / COC / MWC at B+15bps / Clean-up Call (at 75%) / Tax Call
• Governing Law: English Law
• Selling Restrictions: As per Offering Circular (Reg. S Compliance Category 2; TEFRA D)
• Target Market: Manufacturer target market (MiFID II/UK MIFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No EU PRIIPs key information document (KID) or UK disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared as not available to retail in EEA or in the UK.
• Joint Bookrunners: Citi, Crédit Agricole CIB (B&D), Deutsche Bank, SEB
• Investor Presentation: URL:www.netroadshow.com
  Entry Code: Century2026 (not case-sensitive)
  Direct Link:www.netroadshow.com/nrs/home/#!/?show=7deb9934(Recommended)
• Books Subject: 13:00 CET
• Hedge Deadline: 15:45 CET
• Timing: TOE: 15:52 CET / 14:52 UKT; FTT: 16:15 CET / 15:15 UKT