Commentary & Deal Flow

Reoffer: 2yr: MS+85bp / 99.90 / 4.203% Long 6yr: MS+145bp / 99.884 / 4.826% 9yr: MS+175bp / 99.619 / 5.154% 12yr: MS+205bp / 99.552 / 5.502%
Benchmark: 2yr: OBL 2.40% 19-Oct-28 #188 @ 98.78 / B+115.1bp / HR 101% Long 6yr: DBR 2.30% 15-Feb-33 @ 95.01 / B+163.8bp / HR 97% 9yr: DBR 2.60% 15-Aug-35 @ 94.80 / B+186.3bp / HR 97% 12yr: DBR 1.00% 15-May-38 @ 76.83 / B+202.8bp / HR 107%

Tranche 1 (2yr): Final Books €3bn.
Tranche 2 (Long 6yr): Final Books €3.4bn.
Tranche 3 (9yr): Final Books €1.8bn. Peak book north of €2.1bn.
Tranche 4 (12yr): Final Books €1.9bn. Peak book north of €2.2bn.

Launched:
2yr: €650m @ MS+85bp - Books north of €2.4bn
Long 6yr: €700m @ MS+145bp - Books north of €3.3bn
9yr: €500m @ MS+175bp - Books north of €2.1bn
12yr: €650m @ MS+205bp - Books north of €2.2bn
IPTs: 2yr: MS+110a Long 6yr: MS+170a 9yr: MS+200a 12yr: MS+230a

• Issuer: Equinix Europe 2 Financing Corporation
• Issuer LEI: 254900FSZR46BPMCKI50
• Guarantor: Equinix, Inc. (Ticker: EQIX; Country: US)
• Guarantor LEI: 549300EVUN2BTLJ3GT74
• Current Guarantor Ratings: Moody's: Baa1 (Stable) / S&P: BBB+ (Stable) / Fitch: BBB+ (Positive)
• Expected Issue Ratings: Baa1/BBB+/BBB+ (Moody's/S&P/Fitch)
• Format: Senior Unsecured Notes
• Settlement: 09-Nov-26 (T+4)
• Size:
  • 2yr: €650m
  • Long 6yr: €700m
  • 9yr: €500m
  • 12yr: €650m
• Maturity:
  • 2yr: 09-Nov-28
  • Long 6yr: 15-Feb-33
  • 9yr: 09-Nov-35
  • 12yr: 09-Nov-38
• Reoffer:
  • 2yr: MS+85bp / 99.90 / 4.203%
  • Long 6yr: MS+145bp / 99.884 / 4.826%
  • 9yr: MS+175bp / 99.619 / 5.154%
  • 12yr: MS+205bp / 99.552 / 5.502%
• Coupon:
  • 2yr: 4.15% Fixed, Annual, ACT/ACT (ICMA)
  • Long 6yr: 4.8% Fixed, Annual, ACT/ACT (ICMA)
  • 9yr: 5.1% Fixed, Annual, ACT/ACT (ICMA)
  • 12yr: 5.45% Fixed, Annual, ACT/ACT (ICMA)
• First Pay Date:
  • 2yr: 09-Nov-27
  • Long 6yr: 15-Feb-27
  • 9yr: 09-Nov-27
  • 12yr: 09-Nov-27
• MWC:
  • 2yr: B+20bp
  • Long 6yr: B+25bp
  • 9yr: B+30bp
  • 12yr: B+30bp
• Benchmark:
  • 2yr: OBL 2.40% 19-Oct-28 #188 @ 98.78 / B+115.1bp / HR 101%
  • Long 6yr: DBR 2.30% 15-Feb-33 @ 95.01 / B+163.8bp / HR 97%
  • 9yr: DBR 2.60% 15-Aug-35 @ 94.80 / B+186.3bp / HR 97%
  • 12yr: DBR 1.00% 15-May-38 @ 76.83 / B+202.8bp / HR 107%
• Par Call:
  • 2yr: --
  • Long 6yr: Yes, 2-months
  • 9yr: Yes, 3-months
  • 12yr: Yes, 3-months
• ISIN / Common Code:
  • 2yr: XS3560994603 / 356099460
  • Long 6yr: XS3560995089 / 356099508
  • 9yr: XS3560995246 / 356099524
  • 12yr: XS3560995592 / 356099559
• T.O.E.:
  • 2yr: 15.23 UKT
  • Long 6yr: 15.22 UKT
  • 9yr: 15.21 UKT
  • 12yr: 15.20 UKT
• B&D:
  • 2yr: J.P. Morgan
  • Long 6yr: J.P. Morgan
  • 9yr: BNP Paribas
  • 12yr: BNP Paribas
• Docs: SEC Registered / Nasdaq Bond Exchange Listing / New York Law
• Clearing: Euroclear and Clearstream
• Denominations: €100,000 x €1,000
• Selling Restrictions: As per Equinix Europe 2 Financing Corps Preliminary Prospectus Supplement
• UoP: The Issuer intends to use the net proceeds from the offering to finance or refinance one or more Eligible Green Projects
• Sales into Canada: Yes, via exemption
• Stabilization: FCA / ICMA
• Target Market: MiFID II and UK MiFIR professionals / ECPs-only / No PRIIPs KID or UK PRIIPs KID / CCI product summary
• Joint Actives: BNP Paribas, BofA Securities, ING, J.P. Morgan, Santander, Standard Chartered Bank
• Timing: PRICED. FTT TBC subject to termsheet