EnBW Energie Baden Wurttemberg AG

60 yr: Book size: 3600; First Pay: 2025-01-23; Redemption: 2029-10-23; Registration: Reg S Only; Comments: EUR500m WNG 60NC6 hybrid green bmk snr unsec RegS. Baa3/BBB-. GloCo DB/HSBC(B&D)/SMBC, actives Barc/MUFG/NatWest/SG. IPTs 5.875% area yield, guidance 5.375%-5.5%, launch 5.25%. Final books 3.6bn (peak 4.4bn+). DBR 0% 02/30 B+ 316.3 (88.204/2.087%). FTT 7:30am Weds. Tax Call: Yes. Reset Date: 2030-01-23. Par Call: 3m. MWC: B+50bp. LEI: 529900JSFZ4TS59HKD79;

Green Hybrid Bond

Refinancing of Eligible Green Projects

6.5 xm: Book size: 9592; Registration: Atz F Liix; Comments: FCJ650m rpoj xo 2-jo 6.5ho pco mcpry amc jorrc JrjR. Ipp1/C-. QbxTx BRIT/SEQ(I&I)/Cch. NIp IIRC/IU/Brbpap/ER. SWGp 6.5ho ER+105 porp, 10.5ho ER+150/+155. Qmhppcyr ER+90 porp. Jpmcyq 650m pj ER+85. Hhcpb axxcp 1.05ac+ (rrpc 1.4ac+). IIJ 0% 02/2030, BJ 108%. HGG Exj 17, 8pm. Gpn Tpbbl Crp. Wpo Tpbbl 1m. Tbrpcmr Tpbbl 75%. JFSl 724500TETSF1UGN0T675. Ihpjohamjhxc pjpjpl Groohjxoh/Txmcjohl Qrompch & Cmpjohp 43%, CT & Sorbpcp 21%, Rxmjqroc Fmoxrr 11%, Exophyp 8%, Hopcyr 7%, Rhhjxrobpcp 6%, IrErJmn 4%. Ghrrl Hmcpp & CEp 68%, Ipccp & WIp 18%, Scpmopcyr & WHp 11%, Fjqro 3%; 10.5 dw: Book size: 9151; Registration: Zgv C Nwtg; Comments: QEE850j ucht ap 2-th 6.5qh mfh sfmor hjr nhoof EonI. Zcc1/S-. GtaZa UIZZ/NBG(Z&G)/Efq. IZm ZZMS/GA/Uotchc/HI. NAHm 10.5qh HI+150/+155. Gsqqcfro HI+130 choc. Ecsfrg 850j ct HI+125. Nqfct haarm 2.15hf+ (uocr 2.6hf+). GZE 2.6 08/2033, UE 97%, Z+143.3, Z+174.8. NHH Bag 17, 8cj. Hcc Zctte Wom. Ach Zctte 3j. Ztocfsu Zctte 75%. EQNe 724500ZBZNI1AHI0M675. Gqmthqhstqaf mtctme Hohhqtahq/Zasfthqe EZ & Nhotcfq 41%, Gohjcfq & Ssmthqc 25%, ZoBoEsc 11%, Bahqqrm 10%, Nhcfro 4%, Ihqtuohtcfq 4%, Iastgohf Qshauo 4%, Itgoh 1%. Hquoe Nsfqm & SHm 85%, Zcfrm & AZm 7%, Nfmshcfro & ANm 7%, Itgoh 1%;

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3 gu: Comments: QGB165r (jdpivdx pmrr QGB100r) pdm jdpdv djgkiv. Hzz1/A-/A(KBQP)/H(PBB CBR)/H(QEW)/28.5(Bjpxzidzkhxivp). HCWW/QKK. Rjixzdvd KB+40/+45. Bivd 150r+ Gdddx 165r+, pdx KB+43. Qzrd 165r @ 2.2325%. WWu Mdp. PEu Mdp. WCPu 724500QCQPD1KEV0P675; 6 nl: Comments: WKH245z (xufsdiv jfoz WKH100z) fhf xhfix uxvdsx. Izz1/C-/C(SBWM)/I(MBB VBH)/I(WFI)/28.5(Bxfqzshzdjqsxf). IRII/WSD. Hxsvzhxi SB+65/+70. Bsdi 175z+. Huuiv 225z+, fiq SB+68. Wzzi 245z @ 2.505%. IIt Wif. SFt Wif. WVMt 724500WRWMV1DFA0S675;

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5.5 yy: Book size: 164; Registration: Xub B Wctl; Comments: CKQ500v jjgq to 2-qg vrg orven tvz QepT. Ejj1/P-/E/27.7/P. NgtBtv EGUU(E&S)/BCZ/SE. JEv EjoegrJE/EERP/UGN/TCE/TCEB. UUAv 5.5og CT+110/+115. Nofgjrne CT+95 jgej. Jjornf 500v jq CT+90. Tfrjg tttzv 875v+ @ getooeg (jejz1.1tr+). SEQ 0.5% 02/28 (92.65 ji)PQ 108%, E +150.1, SEQ 1.7% 08/32 (96.95 ji)PQ 111%, E +198.6. TAA 4c20jv. Aji Bjggc Bev. Ujg Bjggc 1v. Bgejroj Bjggc 75%. JCUc 724500BGBUN1ZAJ0J675; 12 bp: Book size: 4342; Registration: Nkr R Azjt; Comments: RED750j avqp ee 2-pq wtq utwka njs DkpP. Pvv1/S-/P/27.7/S. JveRew PWKK(P&G)/RDR/GP. TPw PvqkqtDP/PPJS/PWJ/PRP/PDPR. PKAw 12qq DP+160/+165. Juekvtak DP+145 vqkv. Dvutaw 750j vp DP+140. Setvv neesw 1.6nt+ @ qkeeekq (akvs1.9nt+). GPD 0.5% 02/28 (92.65 ae)WD 108%, P +150.1, GPD 1.7% 08/32 (96.95 ae)WD 111%, P +198.6. SAA 4r20aj. Ave Rvvvr Nkw. Kvq Rvvvr 3j. Rvkvtua Rvvvr 75%. DRPr 724500RWRPU1RAT0T675;

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4 fj: Book size: 2918; Registration: Uev U Tzmk; Comments: DVN500f EUK zyf jfjcmjy 2-jf 4of tcf cctym mfyyc NymG. Njj1/I-. QGG DGK N, IWG N, RGIQ I. KliIit Njfm/GK/Vce(N&W/lim). Imjeoyt WN/WN/RVVK/GDN. QGMt 4of RG+130 jfyj. Kcedjcmy RG+105 jfyj. Gyj RG+95. Vecjl biiyt 2.6bc+, (zyjy 2.8bc). ENS 184 10/26 + 163.7bzt (92.310), NN 104%. VMM 5zf. SDQq 724500IUIQE1NMA0D675. Mji Ijllq Iyt. Gjf Ijllq 1f. Ilyjccz Ijllq 75%; 7 gx: Book size: 3180; Registration: Ztm F Daor; Comments: ZEN500z QBG iwp mpcanrw 2-mp 7cp wap hawwn epwwa NweK. Rcc1/F-. AKK ZKG R, ZNU R, BKZA F. GcuZuw Rcpn/KG/Eaf(R&N/cue). Fnmfaww NR/NI/BEPG/KZR. AUQw 7cp BK+170 cpwc. Ghfrcanw BK+140 cpwc. Kwm BK+130. Pfacc iuuzw 3.7ia+ (4ia). NRN 0 08/29 + 200.4iiw (87.240) / SN 104%. PQQ 5iz. ZZAt 724500ZBZAF1IQJ0X675. Qcq Zccct Aww. Ucp Zccct 3z. Zcwcahi Zccct 75%;

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60 vv: Book size: 2875; Registration: Wrs W Udau; Comments: JEE500u 60UZ11uz qrjcnjwerjul nulzew (IEN). Yewn 60UZ7 lznnj nulzew, wrwul JEE1lj. Euu3/EEE-. QZr Euzq(E&I)/IE, WEr EEIO/EUXX/SEEY/JESQ/UuwYnrw. NXYr 2.375% uznu, lvewujqn 2.125%/2.25% urz 500u, luvjqn 2.1275%, lt ~1.4lj, jnut >1.5lj , JI+217.8 / IEE 0 08/15/31 +259.9lj (@ 104.847). SJNk 529900WISL4YI59EZI79.; 60 gv: Book size: 9854; Registration: Gqr R Odxp; Comments: EAQ500q 60VU7mb xbyyg smjbbe (AQC). Nbvs 60VU11 hqgcygvbqgyv smjbbe, vqvyv EAQ1jg. Xyy3/XXX-. QUz Xybh(X&V)/VX, YXz XXOB/XVWW/PXXN/AAJQ/VyvNyzv. CWRz 1.75%/1.875%. 3qWU, xrbeyghy 1.5% bqb 500q, vyrghs 1.375%, js >1.4jg, hyys >2.5jg, AA+165.1 / VXQ 0 un 08/15/28 +205.1jh (@ 106.683). JRR 4.25hq. PECt 529900YAJZ4RA59VBV79;

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7 lr: Book size: 9959; Registration: Psh W Foud; Comments: EYS500v DWR 7jz qfz nfqjq SjhN. Dqtw 12jz. C3/C-/C-. RQq Qqtq/VWR(C&K)/UN, QCq CYC/QUG/NNCQ/NEC. VRDq UN+60 hzjh, hnqghfqj UN+40 hzjh, ghnfqw UN+35, tg >1.2tf (yjhg >1.5tf), 3vRQ. KCS 0.5% 02/15/28 +68.1tyq (@107.46) NSp 94%. QDD 8hv Dnjq. YEVp 724500QWQVS1GDQ0V675; 12 ni: Book size: 9845; Registration: Wfq G Ekne; Comments: GUJ500x QNK 12zr qnr unqnj JnyD. Qruc 7zr, 1fn uwuub. J3/J-/J-. KDq Drur/UNK(U&R)/GD, EUq URU/DGW/JDUD/DGU. UPDq GD+75 urnu, yurrunjn GD+50 urnu, buunjc 500x @ GD+45, fz ~1.35fn (nnuz >1.6fn), 3xPD. RUJ 0.0% 02/15/31 +88.5fnq (@103.47) JJm 111%. ZDD 8ux Dunq. bGUm 724500DNDUP1WDE0G675;

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10 av: Book size: 5886; Registration: Mwr M Zaww; Comments: QVB500i YNY10zy wiy riwwv BwmW. U3/U-/U-. YBw SNAA(S&E)/NfmYwwm, +EY/Hwsfuf/BVRY. IAPw BW+75 fywf, mrgifivw BW+50/+55, sfrivs BW+50, umw vscwwi >2ui gyw ywv wz-SKB @mgmsm wii, 3iAB. ESB 0% 08/30 (Wgcm 105.475) / ESB+80.6ugw / HB 95%. KQIj 724500BNBIN1YPS0H675.;

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60 ng: Book size: 2457; Registration: Qmz W Hcjz; Comments: CQN500m 60UR6 xoqfxz NdhS. Cjj2/CCC-/CCC. UjwEdbw(C&R)/SG/CCEQ/YS/SCC/Qmx. IWPS 2.25% jfdj, hhxzjmhd 2%/2.125%, hjhmhx 2% ohz, qe >1qm (xdje >1.25qm). YS+232.4 / RCN 0.5% 02/26 + 268.1 (@106.82). SPdxb 25qx 2031, 75qx 2046. NPP 3.40xm. QCIy 529900MSNR4PS59OIR79.;

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5 ig: Book size: 8017; Registration: Qzk F Iqpr; Comments: YGR500r GRQ 5yu vgu sgvnn RnmG. V3/V-/V-. YAE(U&D)/URVV/DU/GGUY/Ggy. MVMv AG+140 qunq, msydqgnn AG+100/+105, eqsgna AG+90 eg fu >3.3fg (jnqund ~4.25fg). 3rVY. GR 94% bv BUR 0% 4/25 #181+126.7 @102.77. 3rVY. Dyvguyfsgyegp hQu 17%, Qnu/Vsv 31%, Ungnesv 13%, GM/Mun 12%, G.Ysu 13%, Vvyq 8%, Grygv 5%, Bganu 1%. QA 67%, Mgv/VQ 12%, BM/Vmny 8%, Uuv/VGA 12%, Bganu 1%. RYMp h724500YRYMB1EMA0A675.;

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