Coop Pank — Capital/Financing Update 2025

Mar 13, 2025

Coop Pank AS issued 250 mln euros of 4-year covered bonds

Coop Pank AS completed today, on March 13th 2025, the inaugural issuance of 250
million euros of 4-year covered bonds. The covered bonds were issued under the
EUR 750 million Covered Bond Programme with the purpose of diversifying the
funding structure of the bank. The bonds will be listed on Irish Stock Exchange.
Moody's Investors Service Ltd has assigned the covered bonds (P)Aa2 credit
rating.

The covered bonds backed by Estonian residential mortgage loans were offered to
European institutional investors. In total 56 investors participated in the
offering and the issue was 4,7 times oversubscribed. The covered bonds were
issued at a spread of 68 basis points over the mid-swap rate. The coupon of the
issued bonds was 3,125% and re-offer yield 3,147%.

The bank's CFO, Paavo Truu, commented: "The issuance of the first international
covered bond is a significant event for Coop Pank, as it provides us with an
additional long-term and stable source of funding to finance our business
growth, particularly in offering long-term loans to Estonian individuals and
businesses. The strong results of the issuance also demonstrate the trust that
professional investors have in Coop Pank."

Information on Coop Pank AS covered bonds is available at:
https://www.cooppank.ee/en/investor.

Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. The number of clients using Coop Pank for their daily
banking reached 211,000. Coop Pank aims to put the synergy generated by the
interaction of retail business and banking to good use and to bring everyday
banking services closer to people's homes. The strategic shareholder of the bank
is the domestic retail chain Coop Eesti, comprising of 320 stores.

Additional information:
Paavo Truu
CFO
Phone: +3725160 231
E-mail: [email protected] (mailto:[email protected])