NN N : Group prices debt offering of EUR 750 million of perpetual subordinated restricted Tier 1 securities

NN Group today announces that it has priced EUR 750 million of perpetual subordinated restricted Tier 1 securities (the "Securities").

The Securities are first callable six months prior to the first reset date and each interest payment thereafter, subject to redemption conditions. The coupon is fixed at 6.375% per annum (payable semi-annually) until the first reset date on 12 March 2031 and will be reset every fifth year thereafter. The Securities allow for a temporary write-down subject to conditions as reflected in the offering memorandum prepared in connection with the Securities. The Securities are expected to qualify as restricted Tier 1 Own Funds. The Securities are expected to be rated by S&P (BBB-) and Fitch (BBB, based on Fitch's current Insurance Rating Criteria as published on 20 July 2023) and will be listed on Euronext Dublin (ISIN: XS2602037629).

The net proceeds from the issue of the Securities will be applied for general corporate purposes (which may include, without limitation, the refinancing of existing debt including callable capital securities).

The offering memorandum with details of the Securities will be published around 8 March 2024 onwww.nn-group.com.