Commentary & Deal Flow

Stedin Holding N.V., a Dutch regulated electricity and gas grid operator, (ticker: "STEDIN", country: NL) rated A- (stable) by S&P, has mandated ABN AMRO, ING, Rabobank and SEB to arrange a series of fixed income investor calls to be scheduled starting 28-Sep-26. A Deal Roadshow presentation will be made available. ING will be coordinating logistics.

An expected € Benchmark, Reg S, Green senior unsecured fixed-rate 12yr € offering will follow, subject to market conditions.

• Expected Issue Rating: A- by S&P
• Use of Proceeds: An amount equal to the net proceeds of the issue of the notes will be allocated to finance and/or refinance a portfolio of Eligible Green Assets, as set out in Stedin’s Green Finance Framework dated September 2025. A Second Party Opinion (SPO) in relation to the Framework has been issued by ISS-Corporate. Both documents are available on the issuer’s website.
• Stabilization: FCA/ICMA will apply
• Target Market: Manufacturer target market (MIFID II/UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels).
• PRIIPs: No EU PRIIPs key information document (KID) or UK PRIIPs CCI product summary has been prepared as the notes will not be made available to retail investors in the EEA or the UK.