Commentary & Deal Flow

Reoffer: 6yr: MS+32bp / 99.794 / 3.789%
Benchmark: 6yr: DBR 1.7 15-Aug-32 @ 91.979 / B+55.3bp / HR 106%

6yr: Final books at re-offer over €640m (excl. JLM). Peak book in excess of €680m (pre-rec, excl. JLM interest)

Launched: 6yr: €500m @ MS+32bp - Book in excess of €680m (pre-rec, excl. JLM interest)
Guidance: 6yr: MS+35a

• Issuer: Achmea Bank N.V.
• LEI Code: 724500AH42V5X8BCPE49
• Guarantor: Achmea SB Covered Bond Company B.V.
• Issuer Ratings: A- (stable) / A (stable) (S&P/Fitch)
• Instrument: Fixed Rate Soft Bullet Covered Bond
• Expected Instrument Ratings: AAA (S&P)
• Form of the Covered Bonds: New Global Note, Reg S, Bearer
• Tenor: 6-year
• Reoffer: MS+32bp / 3.789% / 99.794
• Benchmark: DBR 1.7 15-Aug-32 @ 91.979 / B+55.3bp / HR 106%
• Size: €500m
• Use of Proceeds: General corporate purposes
• Type: Dutch Legislative Covered Bond, European Covered Bond (Premium)
• Pricing Date: 21-Oct-26
• Settlement Date: 28-Oct-26 (T+5)
• Maturity Date: 28-Oct-32
• Extended Due for Payment Date: 28-Oct-33
• Coupon: 3.75%, Fixed rate, Actual/Actual ICMA, Following, Unadjusted
• Coupon for extended period: 1 month EURIBOR plus 32bps per annum, Monthly, ACT/360, Adjusted, Modified following
• Interest Payment Dates: 28 October in each year, commencing 28-Oct-27, up to and including the Maturity Date, if applicable subject to the Business Day Convention
• Denominations: €100k+100k
• Business Day Convention: Following Business Day Convention
• Redemption Price: 100% of Notional Amount
• Governing Law: Dutch Law
• ISIN: XS3551872412
• Documentation: EUR 10,000,000,000 Euro Covered Bond Programme described in the Base Prospectus dated 23-Jan-26 as supplemented on 3-Apr-26, guaranteed as to payments of interest and principal by Achmea SB Covered Bond Company B.V.
• Leads: ABN AMRO, Deutsche Bank, DZ BANK, HSBC, LBBW, Rabobank
• Listing: Euronext Amsterdam
• Selling Restrictions: As set out in the Base Prospectus and supplements
• Clearing System: Euroclear/Clearstream
• Target Market: UK MiFIR / MiFID II professionals / ECPs-only / No EEA PRIIPs or UK CCI product summary
• Advertisement: The announcement is an advertisement for the purposes of Regulation (EU) 2017/1129. The investor presentation, base prospectus and any supplements, and final terms when published, will be available on the Issuer’s website at: https://www.achmeabank.nl/en/investors/funding/soft-bullet-covered-bond
• Priced: TOE: 13:59 CET | FTT: 14:25 CET