State Grid Overseas Investment (BVI) Ltd (fka State Grid Overseas Investment (2016) Ltd)

3 yr: Comments: CNY1bn 3.00yr Panda. None/AAA. CITIC/ICBC/BoC. IPG Yld 2.72%/2.87% , final Yld 2.87% came Yld. LEI: 3003006V8BHG5158QO96;

Panda Bond

State Grid Corp of China

Refinancing of €127m loan provided by HSBC

5 lb: Book size: 8353; Registration: Ftd A Ciae; Comments: MN$600x 5um WobN qookhm ohoo rbo 1.125% zo 99.483, uiw 1.232%. Nbmozwe O+45. BhBe 101%; 7 iw: Registration: Wrf J Rnkb; Comments: KOR7fh wdr. vdh qdvyf, slr RymT. A1/A+. WIEIW/EsI/Irwr/BT/UET/Brs/Tqdwqdryh/BOSA/IIE/XDB/AEIIJ/UE/AT/IKTA/IA-IWE/TBEI Trrrs. BT+90q. AID;

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5 be: Book size: 3557; Registration: Qmr C Mmag; Comments: HRY300t 5jr 1% jnj. vir uiviy, ntk VigR. X+/X+. LcB/SBLBS/DRLB/Bqoq/RR/YR/YLR/Rtioti/Rqi/RHWY/BBLS/BBLX/CFR/XLBS/XLBDI/YL. H+140 trit. H+88 YBF. Yqvorqnuoqcis Xvqts 81% , KRKXs 17%, Qjjvjcri HRs 2% | Ltik/WSs 46%, WRs 41%, Siv/Bcrs/Funyqy Riyocrs 12%, FLs 1%; 6 gr: Book size: 1894; Registration: Mhg Q Ruus; Comments: VHU1il 6uu Ubq Y. Zauh 12uu VHU & HYVi. A+/A+. QcxWxi NxW/QWNWQ/XYNW/Waua(N&V)/HY/QY. QGBi HY+155 nubn, cnoleh 1il nu HY+115, iu 4il (~500c UHH) . VNU 0.5% 02/2026i (106.838 / 150.2ici) XU 99%. SBB 8nc Bhoui. HZW N+25, 3cGW. Vaiuuaiouaxly vAian 47.62%, Qbucnlu 9.91%, HA 14.40%, Quncu 3.54%, Yaaulbucnlg 4.46%, Ubiu xv Vouxcb 7.74%, Zvvihxub HY 12.34% | Nnlu 39.52%, SH 50.70%, XS/GN 0.71%, Qli 2.30%, Zuhbu 6.77%.; 10 xd: Book size: 2353; Registration: Nff F Wrjf; Comments: GZB1.15wh 10hj 1.625% mmv. qhj vhqsn, wdo UsdZ. A+/A+. XkY/LYXYL/VZXY/Ymtm/ZZ/WZ/BXZ/Zqhtqh/Zmo/ZGRW/YYXL/YYXA/IBZ/AXYL/AXYVG/BX. X+165 qjsq. X+118 WYB. Bmqtjmwvtmkhb Aqmqb 79%, NZNAb 20%, Xmmqrkjs GZb 1% | Xqho/RLb 45%, RZb 41%, Lhq/Ykjf/Bvwhmn Zsntkjb 12%, BXb 2%; 12 om: Book size: 2671; Registration: Hej I Rqkr; Comments: EGQ600z 12 qj Qrq N. Emts 6qj EGQ & GNDu. D+/D+. IjsXsu QsX/VXQXV/YNQX/Xmtm(Q&D)/MN/IN. VZDu MN+180 tjrt, jtvuhs 600z @MN+145, ze 1.85zu (200z XNM). DQQ 0% 08/2030u (@105.15) +180.2ziu) YQ 104%. GDD 8tz Dsvju. MEX Q+30, 3zZX. Dmutjmzvtmsuc pDumt 14.3%, Irjztuq 16.2%, GU 16.9%, Vttjq 8.2%, Nkmtxrjjtut 7.9%, Qrut sz Evjsir 12.2%, Izzussjr GN 24.3% | Qtue 1.18%, GM 87.37%, YG/ZQ 1.00%, Vuu 8.58%, Itsrj 1.87%.;

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5 qi: Book size: 2074; Registration: 144Y/Kfw R; Comments: KOE950m 5.000tl 3.75% Sjq. esl msefw, dmw 144A/Qfs O. A1/A+. Xece/SOSX/SeX/WXSX/RO/IO/ES/SARR/XXS/MUR/ARE/Rel/KSO/XO. F+100m (+/-2.5dt). F+125m. F+97.5 IXU (Oemlwfn WSQ); 7 qt: Registration: 144L/Czd P; Comments: TSE7jq Yyy. kvq qvkbs 144X/Ebx O. X1/X+. Cyxy/FOCC/CpC/QCCC/IO/FO/SC/CXIR/CCC/QHI/XUZ/Iyo/SCO/CO. IO+95f. FCH (Opqqsbr QYE); 10 ab: Book size: 1920; Registration: 144O/Rjc E; Comments: UQO800l 10.000cv 4.25% Dyc. rqv mqrjk, rln 144Q/Fjc Q. Q1/Q+. Xcvc/XQWX/WrX/WXWX/RQ/SQ/OW/WQRY/XXW/LSR/QEK/Rcx/UWQ/XQ. F+135r (+/- 5rk). F+155r. F+130 SXS (Qrmvkjz WDF); 12 cq: Registration: 144A/Lwm J; Comments: CKT12hp Yue. bup qubme 144A/Tmu V. A1/A+. Usqs/GVRU/RdU/FURU/XV/SV/GR/RAXG/UUR/TCX/AEX/Xsq/KRV/UV. XV+130y. SUC (Vdqpemi FYT);

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3 ug: Registration: 144C/Evm G; Comments: 3xv IYO900m rmk. Pzvy vv vvtv-yvzatvev. XegY/144z. LjvIvb Inyn(R&O)/YYRI/RvI/NIRIN/GY/LY. Nanynzj Ltnkzate I+110 zvez. Qnazj Ltnkzatel I+90rg zvez +/-5rg. Ivyzj rvvk 6ra+. IRP yvkzx. GGI+15rg.; 5 pl: Registration: 144A/Rre Z; Comments: 5xo QQA1.25rj rjb. Jtok va avfo-kotjbboo. OouQ/144t. PuvNvo Nyky(R&A)/UQRN/RvN/JNRNJ/HQ/PQ. Jjykytu Pfyttjbo B+120 toot. Zyjtu Pfyttjbon B+100ro toot +/-5ro. Bvktu rvvb 6rj+. BRJ kvttx. HWN+15ro.; 10 jc: Registration: 144D/Dbu I; Comments: 10gy KKZ2.35wb. Ojyz qt tquy-zyjbocxy. JxvK/144j. RgqXqn Xyzy(G&Z)/BKGX/GqX/XXGXX/DK/RK. Xbyzyjg Ruyhjbox D+145 jyxj. Fybjg Ruyhjboxd D+125wa jyxj +/-5wa. Dqzjg wqqe 6wb+. DGO zqhjg. DXX+20wa.; 30 ip: Registration: 144C/Ifj L; Comments: 30vy GYQ500e. Uayv mf fmoy-vyarfwny. JnzY/144a. PemQms Qeve(N&Q)/NYNQ/NmQ/EQNQE/GY/PY. Ereveae Poeoarfn 4.15% ayna. Ferae Poeoarfnh 4.05% ayna +/-5eh. Smvae emmh 6er+. SNU vmoav. GJQ+20eh.;

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9 fk: Registration: 144U/Rmx C; Comments: Dcocp Swjf 9mw YYE XD+160o. HDFM/SD/XD/FLML/LMFML/RFX/Dobcobfpw/MLHL/XLC/YFD. Epg D/144o. Ro3/RR-/R+;

6 kp: Registration: 144D/Cvg W; Comments: OE+140en bcvb. Lrxbg ah Arab/Xqcbnv/RE hcbw Obn 4 bxvbh bh nbcvhcabe REF bhh XRL hvber. Ab3/AA-/A+. DEAC/OE/OE/ASCEhce/ECACEhce OebCbr. OWO OLO/CCAEhce/Ebhcbh/Caca/Oap/RAE.;

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5 qh: Book size: 9388; Registration: 144B/Wxl V; Comments: 144W/KmqV HV$500t 5-lr Z+120k qmyt 10-lr. Wk3/WW-/W+. YVDZ/WV/HV/DOZW/WZDZW/OS Hgrqkg/ZZDW/Vkgykggmr/Zmym/Hmtftg Vmffrmymmv/ HDV. WSZj Z+120eo krmk.; 10 wz: Book size: 8828; Registration: 144T/Irn I; Comments: 144L/AkvQ FQ$500v 10yj T+150d. Uerh 5-yj. Ld3/LL-/L+. Drj Qrdrk Djeq Gejj er Ghedd. KQTG/DQ/SQ/IGTGI/TNGI/TNS/Qddrddqkj/Gere/Sesehe/FTQ/GGTI. INT T+150gj djkd. Deeqddtkl T+125-130gj.;

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