Commentary & Deal Flow

Reoffer: Long Green 5yr: T+98bp / 99.759 / 5.927% 10yr: T+108bp / 99.271 / 6.224%
Benchmark: Long Green 5yr: T 5 30-Sep-31 @ 100-07¼ 4.947% (HR @ 107%) 10yr: T 45/8 15-Aug-36 @ 96-01 5.144% (HR @ 98%)

Launched:
Long Green 5yr: US$1.1bn @ T+98bp
10yr: US$650m @ T+108bp
Spread set at: Long Green 5yr: T+98bp - Books > US$3.2bn (excl. JLM) 10yr: T+108bp - Books > US$2.7bn (excl. JLM)
Book Update: Books > US$5bn (excl. JLM)
IPTs: Long Green 5yr: T+130a 10yr: T+140a

• Issuer: Abu Dhabi National Energy Company PJSC (“TAQA”)
• Issuer Legal Entity Identifier (LEI): 213800UNJSVQFNUYYW03
• Issuer Ratings: Aa3/AA by Moody’s/Fitch; both stable outlook
• Expected Issue Ratings: Aa3/AA by Moody’s/Fitch
• Status: Senior, Unsecured
• Format: 144A / Regulation S (Category 2), Registered Form
• Currency: US$
• Size:
  • Long Green 5-Year: US$1.1bn
  • 10-Year: US$650m
• Trade Date: 19-Oct-26
• Settlement Date: 26-Oct-26 (T+5)
• First Pay: 26-Apr-27
• Maturity Date:
  • Long Green 5-Year: 26-Apr-32
  • 10-Year: 26-Oct-36
• Reference UST Benchmark:
  • Long Green 5-Year: T 5 30-Sep-31 @ 100-07¼ 4.947% (HR @ 107%)
  • 10-Year: T 45/8 15-Aug-36 @ 96-01 5.144% (HR @ 98%)
• Reoffer:
  • Long Green 5-Year: T+98 / 5.927% / 99.759
  • 10-Year: T+108 / 6.224% / 99.271
• Coupon:
  • Long Green 5-Year: 5.875%
  • 10-Year: 6.125%
• ToE:
  • Long Green 5-Year: 17.13 UKT
  • 10-Year: 17.12 UKT
• ISINs:
  • Long Green 5-Year: RegS XS3548884595 / 144A US00388WBG50
  • 10-Year: RegS XS3550564739 / 144A US00388WBJ99
• Interest Payment Dates:
  • Long Green 5-Year: 26 April and 26 October of each year commencing on 26-Apr-27
  • 10-Year: 26 April and 26 October of each year commencing on 26-Apr-27
• Use of Proceeds:
  • Long Green 5-Year: Financing Eligible Green Projects as described in TAQA’s Green and Blue Finance Framework
  • 10-Year: General Corporate Purposes
• Day Count Fraction: 30/360
• Joint Bookrunners & Joint Lead Managers: Abu Dhabi Commercial Bank, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China, J.P. Morgan, Mashreq and Standard Chartered Bank
• Joint Green Structurers: Citi, HSBC and Standard Chartered Bank
• Billing and Delivery:
  • Long Green 5-Year: Citi
  • 10-Year: J.P. Morgan
• Listing: London Stock Exchange, Main Market
• Delivery: Rule 144A (DTC), Regulation S (Euroclear and Clearstream, Luxembourg)
• Denominations: US$200,000 and integral multiples of US$1,000 in excess thereof
• Documentation: US$20,000,000 Global Medium Term Note Programme
• Governing Law: English Law
• Investor Presentation: URL:https://dealroadshow.finsight.comEntry Code: TAQA2026 Direct Link:https://dealroadshow.finsight.com/e/TAQA2026
• Timing: Priced / FTT at 08.00 UKT on 20-Oct-26 subject to TS
• Notes: FCA/ICMA stabilisation applies.