Commentary & Deal Flow

Tranche 1 (4yr): Final Books > €1bn. Peak book > €1.9bn
Tranche 2 (7yr): Final Books > €1.2bn.

Launched: 4yr: €500m @ MS+70bp - Books > €1.9bn 7yr: €500m @ MS+110bp - Books > €1.2bn
IPTs: 4yr: MS+100a 7yr: MS+125a

• Issuer: Réseau de Transport d'Electricité (Ticker: RTEFRA, Country: FR)
• Issuer LEI: 969500JRJW0K2ET1UP76
• Issuer Rating: A- stable by S&P
• Issue Rating (expected): A- by S&P
• Form of notes: Senior Unsecured, Reg S Bearer, Dematerialised Green Notes
• Pricing Date: 21-Oct-26
• Settlement Date: 28-Oct-26 (T+5)
• Maturity Date:
  • 4yr: 28-Oct-30 (4-year Fixed)
  • 7yr: 28-Oct-33 (7-year Fixed)
• Issue Size:
  • 4yr: €500m
  • 7yr: €500m
• Coupon:
  • 4yr: Fixed, Annual, Act/Act ICMA
  • 7yr: Fixed, Annual, Act/Act ICMA
• Par-Call:
  • 4yr: 2-month
  • 7yr: 3-month
• ISIN:
  • 4yr: FR001401BU89
  • 7yr: FR001401BU97
• Hedge Ratio:
  • 4yr: 101% vs OBL 2.2 30 #192
  • 7yr: 100% vs DBR 2.6 Aug-33
• Hedge Deadline: 15h10 UKT / 16h10 CET
• Documentation: EMTN Programme dated 2-Jul-26 and supplemented on 19-Oct-26 / Euronext Paris / French Law / Clean-up call (80%) / €100k + 100k / MWC (Bund)
• Use of Proceeds: Financing or refinancing of Eligible Green Projects (as defined in the section "Use of Proceeds" of the Base Prospectus) and more fully described in the issuer's Green Financing Framework dated November 2021. Both documents are available on the Issuer's websitehttps://www.rte-france.com/en/finance/key-figures-financial-publications#EMTNprogram
• Active Bookrunners: Barclays (B&D), BNP Paribas, CIC CIB, Crédit Agricole CIB, Natixis, NatWest, SMBC, Société Générale
• Target Market: The manufacturer target market (MIFID II/UK MIFIR product governance) is eligible counterparties and professional investors (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom
• Selling Restrictions: As set out in the Base Prospectus dated 2-Jul-26
• Advertisement: The Base Prospectus is available at www.amf-france.org and the Final Terms when published will be available at www.amf-france.org and on the issuer's website (https://www.rte-france.com/)
• **Investor Presentation:**https://assets.rte-france.com/prod/public/2026-10/2026-10-20-credit-update-october-2026.pdf
• Schedule: Books to go subject at 13:05 UKT / 14:05 CET