Commentary & Deal Flow

Launched:
Long 4yr: €1.75bn @ MS+103bp
Long 6yr: €1.25bn @ MS+135bp
Long 8yr: €1bn @ MS+160bp
12yr: €1.75bn @ MS+203bp
18yr: €1.75bn @ MS+263bp
Long 38yr: €1.5bn @ MS+333bp

Spread set at:
Long 4yr: MS+108bp
Long 6yr: MS+140bp
Long 8yr: MS+165bp
12yr: MS+208bp
18yr: MS+268bp
Long 38yr: MS+338bp

IPTs:
Long 4yr: MS+140a
Long 6yr: MS+170a
Long 8yr: MS+195a
12yr: MS+240a
18yr: MS+300a
Long 38yr: MS+370a

• Joint Bookrunners: Citi / MS
• Issuer: Meta Platforms, Inc. (Ticker: META; Country: US)
• LEI: BQ4BKCS1HXDV9HN80Z93
• Current Issuer Ratings: Aa3 (Stable) / AA- (Stable) (Moody's / S&P)
• Expected Issue Ratings: Aa3 / AA- (Moody's / S&P)
• Format: Senior Unsecured Notes
• Settlement: 12-Nov-26 (T+6)
• Docs: SEC Registered / Nasdaq Listing / New York Law
• Size:
  • Long 4yr: €1.75bn
  • Long 6yr: €1.25bn
  • Long 8yr: €1bn
  • 12yr: €1.75bn
  • 18yr: €1.75bn
  • Long 38yr: €1.5bn
• Total Deal Size: €9bn
• Books Subject: 13:00 UKT / 14:00 CET
• Book Status: Books now closed
• Allocations: Available in the system
• Coupon: Fixed, Annual, ACT/ACT (ICMA), Short First for Long 4yr, Long 6yr, Long 8yr and Long 38yr; Long First for 12yr and 18yr
• MWC: Yes for all tranches
• Reference Benchmark / HR:
  • Long 4yr: DBR 0.0% 15-Feb-31 (DE0001102531) / HR 105%
  • Long 6yr: DBR 2.3% 15-Feb-33 (DE000BU2Z007) / HR 98%
  • Long 8yr: DBR 2.5% 15-Feb-35 (DE000BU2Z049) / HR 96%
  • 12yr: DBR 1.0% 15-May-38 (DE0001102598) / HR 107%
  • 18yr: DBR 2.5% 04-Jul-44 (DE0001135481) / HR 92%
  • Long 38yr: DBR 2.9% 15-Aug-56 (DE000BU2D012) / HR 87%
• Hedge Deadline: 16.45 UKT / 17.45 CET
• Par Call: Yes, 1-month for Long 4yr; Yes, 2-months for Long 6yr; Yes, 3-months for Long 8yr; Yes, 3-months for 12yr; Yes, 6-months for 18yr; Yes, 6-months for Long 38yr
• ISIN / Common Code: XS3552752217 / 355275221 (Long 4yr); XS3552752480 / 355275248 (Long 6yr); XS3552752563 / 355275256 (Long 8yr); XS3552800800 / 355280080 (12yr); XS3552801014 / 355280101 (18yr); XS3552801287 / 355280128 (Long 38yr)
• B&D: MS for Long 4yr, Long 6yr, Long 8yr and 12yr; Citi for 18yr and Long 38yr
• Clearing: Euroclear and Clearstream
• Denominations: 100,000 x 1,000
• Selling Restrictions: As per Meta Platforms, Inc.'s Preliminary Prospectus Supplement
• UoP: Meta Platforms, Inc. intends to use the net proceeds from this offering for general corporate purposes
• Marketing: eRed
• Deal Roadshow: www.netroadshow.com/nrs/home/#!/?show=27e9494b (Recommended) or visit www.netroadshow.com and enter the requested entry code: Meta26 (not case-sensitive)
• Sales into Canada: Yes, via exemption
• Sales into Japan: Yes, via exemption
• Stabilization: FCA/ICMA
• Target Market: MiFID II and UK MiFIR professionals / ECPs-only / No PRIIPs KID or DISC Disclosure Document
• Joint Book-Running Managers: Citigroup / Morgan Stanley
• Timing: Today's business
• Note: Pricing shortly