Kommuninvest English

Kommuninvest today raised another SEK 4.75 billion (USD 0.5 billion) in an outstanding Green Bond. This was the first green transaction this year. The bond is denominated in SEK and matures on June 18, 2031.

Following an updated analysis, Kommuninvest has decided that the funding forecast for 2025 will remain unchanged.

Kommuninvest today publishes its annual Green Bonds Impact Report for 2024. According to this year's report, the number of environmental and climate-oriented investments financed with Green Loans from Kommuninvest continues to increase. The impact report for 2024 includes 683* municipal investment projects financed with Green Loans, an increase of 77 projects compared to the previous year. The investment projects contribute to approximately 490,000 tonnes in reduced CO2 emissions annually.

Kommuninvest is taking a significant step in its work towards social sustainability by issuing our first social bond. The bond, which has a maturity of just over three years and matures on September 1, 2028, received strong investor demand. 18 investors participated amounting to more than SEK 5 billion of interest. Kommuninvest allocated SEK 3 billion with a coupon of 2.625% and a spread to MS +15. The transaction was issued together with Danske Bank, SEB, and Swedbank as Joint Lead Managers.

Kommuninvest is taking a significant step in its work towards social sustainability by launching our first social bond. The bond, which has a long three-year maturity with fixed interest rate and maturing on September 1, 2028, will be presented to investors on March 25, with the support of Danske Bank, SEB, and Swedbank as Joint Lead Managers. The bond aims to finance projects with specific social goals and strengthen our commitment to a social sustainable development.

Kommuninvest today issued USD 1.25 billion (approximately SEK 12.5 billion) in a new bond maturing on April 21, 2027. This was the first USD transaction of the year and demand was high and diversified from many leading investors. The order book consisted of over 45 investors, with a total interest of above USD 2.5 billion. The bond was priced at 31 basis points above mid-swaps and 15 basis points above corresponding US Treasuries. – Kommuninvest continue to show presence in the USD market, with strong and diversified demand from many leading investors. The USD market is crucial in our efforts to secure cost-effective financing for investments in the Swedish municipal sector, says Viktor Mejman, Funding Manager at Debt Management at Kommuninvest. Transaction details: Press Points For further information: Tobias Landström, Head of Debt Management, phone: +46 70 586 78 51 e-mail: tobias.landstrom@kommuninvest.se Viktor Mejman, Funding Manager at Debt Management, phone +46 73 805 08 65 e-m

Kommuninvest today issued SEK 3 billion (USD 0.27 billion) in a new bond under the Swedish Benchmark Program. The new bond, labeled K3011, matures on November 12, 2030, and will be added to the calendar for the program’s weekly auctions. The transaction, which had a bid-to-cover ratio of 2.85, was priced 30.56 basis points above mid-swaps and approximately 58 basis points above the corresponding Swedish government bond. – Having long-term investors on board is important both for the development of the program and for our ability to secure cost-effective financing for the municipal sector’s investments in Sweden, says Tobias Landström, Head of Debt Management at Kommuninvest. For further information: Tobias Landström, Head of Debt Management, phone: +46 70 586 78 51 e-mail: tobias.landstrom@kommuninvest.se Marcus Waineby, Team Lead of Debt Management, phone +46 70 696 77 69 e-mail: marcus.waineby@kommuninvest.se Victoria Preger, Chief Communication Officer, phone: +46 70 266 87 26 e-mai

Kommuninvest plans to issue a new bond under the Swedish Benchmark Programme, subject to market conditions. The new bond, K3011, will mature on November 12, 2030. The first possible issuance date is February 11. The bond will be issued through an auction on Bloomberg’s auction platform (AUPD), with the ambition to issue SEK 3 billion. – This new and slightly longer bond is a good step forward in the development of the Swedish Benchmark Programme. By adding this new bond, we create expanded opportunities for investors with a long-term perspective, says Tobias Landström, Head of Debt Management at Kommuninvest. On the issuance day, the auction will start at 09:00 CET. Bids will be placed as a spread against the matched maturity swap, expressed in basis points. Bids are submitted via dealers in the Swedish Benchmark programme. The auction will close at 10:00. Kommuninvest has no obligation to issue the full indicated volume and reserves the right to reject bids deemed unnecessarily expens

The quarterly report "Local Government Debt Management", which offers a picture of the structure and terms of the local government sector's total loan debt in Sweden, has now been updated with new data for the fourth quarter of 2024. The average interest rate continued to decline in the sector, for the second quarter in a row.

Kommuninvest today issued SEK 1 billion (USD 0,1 billion) in a new Floating Rate Note under the Swedish Benchmark Program. The new bond is labeled F2710 and matures the 20th of October 2027. The transaction, which was oversubscribed, was priced 10 basis points above the 3 months Stibor and approximately 42 basis points above the corresponding Swedish government bond. – The FRN market plays an important role in our efforts to ensure cost-effective financing for investments within the Swedish municipal sector. Our second transaction in SEK FRN format received strong interest from Swedish investors, says Marcus Waineby at Kommuninvest. Transaction details: Press points For further information Tobias Landström, Head of Debt Management, phone: +46 70 586 78 51 e-mail: tobias.landstrom@kommuninvest.se Marcus Waineby, Team Lead Debt Management, phone: +46 70 696 77 69 e-mail: marcus.waineby@kommuninvest.se Victoria Preger, Chief Communication Officer, phone: +46 70 266 87 26 e-mail: victoria.

Kommuninvest today issued USD 1 billion (approximately SEK 11.1 billion) in a new bond maturing on the 9th of February 2028. This was the first USD transaction of the year and demand was high and diversified from many leading investors. The order book consisted of over 70 investors, with a total interest of above USD 2.9 billion. The bond was priced at 34 basis points above mid-swaps and 14 basis points above corresponding US Treasuries. – This year started positively in the USD market, with strong and diversified demand from many leading investors. The USD market is crucial in our efforts to secure cost-effective financing for investments in the Swedish municipal sector, says Marcus Waineby, Team Lead Debt Management at Kommuninvest. Transaction details: Press Points For further information: Tobias Landström, Head of Debt Management, phone: +46 70 586 78 51 e-mail: tobias.landstrom@kommuninvest.se Marcus Waineby, Team Lead of Debt Management, phone +46 70 696 77 69 e-mail: marcus.wain

Kommuninvest has appointed Tobias Landström as the new Head of Debt Management. Tobias has served as acting Head of Debt Management since March 2024 and assumed the permanent role on January 1, 2025. Tobias Landström has been part of Kommuninvest’s Debt Management team since 2008 and has extensive experience and in-depth knowledge of Kommuninvest's operations, debt management, and relationships with banks and investors. – I look forward to continuing to develop Kommuninvest’s debt management together with my colleagues. Our mission is to ensure efficient and sustainable funding that meets our customers’ needs, says Tobias Landström. Patrick Nimander, Chief Financial Officer at Kommuninvest, notes that Tobias’ work is highly appreciated. – The funding operation is a crucial part of Kommuninvest’s success, and with Tobias managing the team, we can improve our processes and continue to strengthen our competitiveness in an efficient manner, says Patrick Nimander. For more information: Tobi

The Green Bonds Framework is aligned with international guidelines, the so-called Green Bond Principles(GBP). There is a recommendation that issuers should use recurring external scrutiny to confirm that the green bonds meet key GBP criteria. Kommuninvest's Green Bonds Framework every year undergoes an external review. The aim is to continuously provide assurance on the management of proceeds obtained from the issuance of these bonds. This year's assurance report, from Kommuninvest's external auditor EY, is now available. Kommuninvest is Sweden's largest issuer of Green Bonds with twelve green bonds outstanding in SEK, USD and EUR. The Green Bonds proceeds are used to finance lending for green investments in the municipal sector. At mid-December, Kommuninvest had granted Green Loans totaling over SEK 125 billion, for over 700 investment projects in nearly 200 municipalities and regions. The report: Kommuninvest Green Bonds Assurance Report 2024 For further information Björn Bergstrand,

Kommuninvest has established the funding forecast for 2025, which amounts to SEK 150-170 billion. The funding will be carried out in a balanced way in Kommuninvest's strategic currencies: SEK, EUR, and USD. After a few years marked by rising interest rates and persistent inflation around the world, we are now seeing a stabilization and a shift in focus, from inflation to growth. Within the municipal and regional sectors in Sweden, investments are increasing, along with the need for loans. This development, combined with upcoming maturities, lead to an expected funding program in 2025, that range between SEK 150-170 billion. “We look forward to continuing the work of financing investments that promote a sustainable development across all of Sweden during next year”, says Tobias Landström, Acting Head of Debt Management. For more information: Tobias Landström, Acting Head of Debt Management Tel: +46 705 86 78 51 E-mail: tobias.landstrom@kommuninvest.se

The quarterly report "Local Government Debt Management", which offers a picture of the structure and terms of the local government sector's total loan debt in Sweden, has now been updated with new data for the second quarter of 2024.

Kommuninvest today issued USD 1 billion (approximately SEK 10.6 billion) in a new bond maturing on the 1st of July 2026. This was the third USD transaction of the year and demand was high and diversified from many leading investors. The order book consisted of over 75 investors, with a total interest of above USD 2.8 billion. The bond was priced at 29 basis points above mid-swaps and 17.6 basis points above corresponding US Treasuries. - The USD market plays an important role in our efforts to secure cost-effective financing for welfare investments in the Swedish local government sector. We continue to experience strong interest from investors, and the well-diversified order book has led to another successful benchmark transaction, says Marcus Waineby, Team Lead of Debt Management at Kommuninvest. Transaction details: Press Points For further information: Tobias Landström, Acting Head of Debt Management, phone: +46 70 586 78 51 e-mail: tobias.landstrom@kommuninvest.se Marcus Waineby, T

Following an updated analysis, Kommuninvest has decided that the funding forecast for 2024 will remain unchanged. This means that the volume of long-term funding (maturities longer than one year) is still expected to be SEK 130–150 billion. As of September 30 2024 Kommuninvest had issued SEK 112 billion. Funding will, depending on market conditions, be issued in Kommuninvest´s strategic markets: SEK, USD and EUR. For further information Tobias Landström, Deputy Head of Debt Management, phone: +46 705 86 78 51 e-mail: tobias.landstrom@kommuninvest.se Victoria Preger, Chief Communication Officer, phone: +46 70 266 87 26 e-mail: Victoria.preger@kommuninvest.se

Kommuninvest has chosen to add the possibility of issuing FRN in Swedish crowns. The auctions in the Swedish benchmark program continue as usual and FRN borrowing is seen as a complement to the auctions. - Kommuninvest has over a longer period analyzed the Swedish FRN market and concluded that the borrowing form, with its flexible maturities and issue volumes, fits into Kommuninvest's benchmark strategy. We believe that an FRN strategy, where we tap outstanding issues, can appeal to both existing and new investors. During the update of the SEK benchmark program, we made it possible to issue FRN under the same documentation as the fixed benchmark bonds, which simplifies the procedure, says Tobias Landström Acting Head of Debt Management at Kommuninvest. For further information: Tobias Landström, Deputy Head of Debt Management, phone: +46 705 86 78 51 e-mail: tobias.landstrom@kommuninvest.se Marcus Waineby, Funding manager, phone: +46 706 96 77 69 e-mail: marcus.waineby@kommuninvest.se V

Kommuninvest today issued SEK 3 billion (USD 0,3 billion) in a new Floating Rate Note under the Swedish Benchmark Program. The new bond is labeled F2906 and matures the 27th of June 2029. The transaction, which was oversubscribed, was priced 23 basis points above the swap rate and approximately 54 basis points above the corresponding Swedish government bond. – It was positive to see such a strong investor interest in this new FRN bond F2906. To have the long-term investors onboard is important both for the development of the product and for our ability to secure cost-effective financing of the investments for the municipal sector in Sweden, says Tobias Landström, Acting Head of Debt Management at Kommuninvest. Transaction details: Press Points For further information: Tobias Landström, Acting Head of Debt Management, phone: +46 70 586 78 51 e-mail: tobias.landstrom@kommuninvest.se Marcus Waineby, Senior Funding Manager, phone: +46 70 696 77 69 e-mail: marcus.waineby@kommuninvest.se Vic

Kommuninvest today issued USD 1 billion (approximately SEK 10,4 billion) in a new bond maturing on the 25thof August 2027. This was the second USD transaction of the year and demand was high and diversified from many leading investors. The order book consisted of over 80 investors, with a total interest of above USD 3.4 billion. The bond was priced at 36 basis points above mid-swaps and 11 basis points above corresponding US Treasuries. There was a great commitment to this second benchmark bond of the year in the USD market. The USD market is important for us to secure cost-effective funding for the Swedish municipal sector and we were particularly pleased with the volume and quality of the final order backlog from many leading investors. We have now secured about SEK 105 billion of our funding target of SEK 130-150 billion for the year, says Viktor Mejman, funding manager at Kommuninvest Transaction details: Press Points For further information: Tobias Landström, Deputy Head of Debt M