Commerzbank AG — Capital/Financing Update 2026

Apr 8, 2026

National Storage Mechanism | Additional information

KfW EUR Green bond due April 2031

Pre-Stabilisation Notice

April 08, 2026

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Kreditanstalt für Wiederaufbau ("KfW")

EUR Benchmark Fixed Rate Green Bond due April 2031

Guaranteed by The Federal Republic of Germany

Launched pursuant to the Issuers EMTN Programme

Commerzbank AG (contact: Ian Turner; telephone: +44-207-7475-1817) hereby announces, as Stabilisation Coordinator, that the Stabilising Managers named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse Regulation (EU Regulation 596/2014).

The security to be stabilised:
Issuer:	Kreditanstalt für Wiederaufbau ("KfW")
Guarantor (if any):	The Federal Republic of Germany
Aggregate nominal amount:	EUR Benchmark
Description:	EUR Benchmark Fixed Rate Green Bonds due April 2031
Offer price:	Tbc
Other offer terms:	EMTN documentation, denoms 1k/1k, listing Luxembourg Stock Exchange
Stabilisation:
Stabilisation Coordinator: Stabilising Managers:	Commerzbank AG Banco Santander S.A. NatWest Markets N.V. UBS AG London
Stabilisation period expected to start on:	April 09, 2026
Stabilisation period expected to end on:	no later than 30 days after the proposed issue date of the securities
Existence, maximum size and conditions of use of over-allotment facility.	The Stabilising Managers may over-allot the securities to the extent permitted in accordance with applicable law.
Stabilisation trading venue:	Luxembourg Stock Exchange, regulated market

In connection with the offer of the above securities, the Stabilising Manager(s) may over-allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time Any stabilisation action or over-allotment shall be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into the United States or any other jurisdiction in which such distribution would be unlawful.

END

---

---