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MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET MARKET
– Solely for the purposes of each manufacturer’ s product approval process, the target market assessment in respect of the Notes, taking into account the five categories referred to in item 19 of the Guidelines published by ESMA on 3 August 2023, has led to the conclusion that, in relation to the type of clients criteria only: (i) the type of clients to whom the Notes are targeted is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended, “ MiFID II ”); and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a “distributor ”) should take into consideration the manufacturers’ type of clients assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers’ type of clients assessment) and determining appropriate distribution channels.
UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET
MARKET – Solely for the purposes of the manufacturer’s product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook (“ COBS ”), and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“ UK MiFIR ”); and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a “ distributor ”) should take into consideration the manufacturer’s target market assessment; however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the “ UK MiFIR Product Governance Rules ”) is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer’s target market assessment) and determining appropriate distribution channels.
FINAL TERMS dated 3 July 2026
BANQUE FÉDÉRATIVE DU CRÉDIT MUTUEL
Legal Entity Identifier (LEI): VBHFXSYT7OG62HNT8T76 Euro 90,000,000,000 Euro Medium Term Note Programme (the “Programme”) Series No: 604 Tranche No: 1 Issue of EUR 750,000,000 3.500 per cent. Senior Preferred Green Notes due July 2033 (the “ Notes ”) under the Programme
Issued by
Banque Fédérative du Crédit Mutuel
Names of Joint Lead Managers
Crédit Industriel et Commercial S.A.
Danske Bank A/S Deutsche Bank AG Société Générale Corporate & Investment Banking Execution Version
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PART A – CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth under the heading “Terms and Conditions of the French Law Notes ” in the Base Prospectus dated 18 July 2025 which received approval number no. 25-305 from the Autorité des marchés financiers (the “ AMF ”) on 18 July 2025 (the “ Base Prospectus ”), the first supplement to the Base Prospectus dated 17 February 2026 which received approval number no. 26-027 from the AMF on 17 February 2026, the second supplement to the Base Prospectus dated 15 April 2026 which received approval number no. 26-087 from the AMF on 15 April 2026 and the third supplement to the Base Prospectus dated 15 June 2026 which received approval number no. 26-198 from the AMF on 15 June 2026 (together, the “Supplements ”), which together constitute a base prospectus for the purposes of Regulation (EU) 2017/1129, as amended (the “ Prospectus Regulation ”). This document constitutes the relevant Final Terms of the Notes described herein for the purposes of Article 8 of the Prospectus Regulation and must be read in conjunction with such Base Prospectus as so supplemented in order to obtain all the relevant information. The Base Prospectus, the Supplements and the relevant Final Terms are available for viewing at Banque Fédérative du Crédit Mutuel, 4, rue Frédéric-
Guillaume Raiffeisen 67000 Strasbourg and www.bfcm.creditmutuel.fr and electronic copies may be obtained from Banque Fédérative du Crédit Mutuel and will be available on the AMF website www.amf-france.org .
1. Issuer: Banque Fédérative du Crédit Mutuel 2. (i) Series Number: 604 (ii) Tranche Number: 1 (iii) Date on which the Notes become fungible: Not Applicable 3. Specified Currency: Euro (“ EUR ”) 4. Aggregate Nominal Amount:
(i) Series: EUR 750,000,000 (ii) Tranche: EUR 750,000,000 5. Issue Price: 99.288 per cent. of the Aggregate Nominal Amount of
the Tranche
6. Specified Denomination: EUR 100,000 7. (i) Issue Date: 7 July 2026 (ii) Interest Commencement Date: Issue Date 8. Maturity Date: 7 July 2033 9. Interest Basis: 3.500 per cent. per annum . Fixed Rate.
(further particulars specified below) 10. Redemption Basis: Subject to any purchase and cancellation or early redemption the Notes will be redeemed at 100 per cent.
of their nominal amount on the Maturity Date.
11. Change of Interest Basis: Not Applicable 12. Put/Call Options: Not Applicable 13. (i) Status of the Notes: Senior Preferred Notes pursuant to Article L.613-30-3-
I-3° of the French Code monétaire et financier .
(ii) Date of the Board approval for issuance of Notes obtained: Decision of Mr. Eric Cuzzucoli dated 29 June 2026, acting pursuant to the resolution of the Board of
3 Directors passed on 5 February 2026.
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14. Fixed Rate Note Provisions: Applicable (i) Fixed Rate of Interest: 3.500 per cent. per annum payable in arrear on each Specified Interest Payment Date.
(ii) Specified Interest Payment Date(s): 7 July in each year from, and including, 7 July 2027 to, and including, the Maturity Date.
(iii) Fixed Coupon Amount: EUR 3,500 per Specified Denomination (iv) Broken Amount: Not Applicable.
(v) Day Count Fraction: Actual/Actual-(ICMA) (vi) Determination Dates: 7 July in each year 15. Resettable Fixed Rate Note Provisions: Not Applicable 16. Floating Rate Note Provisions: Not Applicable 17. Zero Coupon Note Provisions: Not Applicable 18. TEC 10 Linked Note Provisions: Not Applicable 19. Inflation Linked Interest Note Provisions: Not Applicable 20. Inflation Linked Range Accrual Note Provisions: Not Applicable 21. CMS Linked Note Provisions: Not Applicable 22. Range Accrual Note Provisions: Not Applicable
PROVISIONS RELATING TO REDEMPTION
23. Issuer Call Option: Not Applicable 24. Noteholder Put Option: Not Applicable 25. Final Redemption Amount: EUR 100,000 per Specified Denomination 26. Early Redemption Amount: Applicable (i) Early Redemption Amount(s) of each Note payable on redemption for taxation reasons: EUR 100,000 per Specified Denomination (ii) Redemption for taxation reasons permitted on days other than Specified Interest Payment Dates: Yes (iii) Unmatured Coupons to become void upon early redemption: Not Applicable 27. Make-Whole Redemption Option: Not Applicable 28. Clean-up Redemption Option: Not Applicable 29. Waiver of Set-off: Applicable
4 30. Events of Default in respect of Senior Preferred Notes: No Events of Default 31. Redemption upon occurrence of a MREL or TLAC Disqualification Event in respect of Senior Preferred Notes:
Applicable
32. Prior permission of the Relevant Resolution
Authority:
Applicable pursuant to relevant applicable regulation
GENERAL PROVISIONS APPLICABLE TO THE NOTES
33. Form of the Notes: Bearer
(i) Form:
Dematerialised Notes
Bearer form ( au porteur ) (ii) Applicable TEFRA exemptions: Not Applicable 34. Financial Centre(s): Not Applicable 35. Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature): Not Applicable 36. Details relating to Instalment Notes: Not Applicable 37. Redenomination provisions: Not Applicable 38. Consolidation provisions: Not Applicable 39. Purchase in accordance with Article L.213-
0-1 and D.213-0-1 of the French Code monétaire et financier : Applicable 40. Any applicable currency disruption: Not Applicable 41. Representation of Noteholders (Condition 9 of the Terms and Conditions of the French Law Notes): No Masse shall apply.
42. Governing law: The Notes and any non-contractual obligations arising out of or in connection with the Notes will be governed by, and shall be construed in accordance with, French law.
43. Prohibition of Sales to EEA Retail Investors: Not Applicable 44. Prohibition of Sales to UK Retail Investors: Not Applicable
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer
By: _____________________
Duly authorised
Eric Cuzzucoli
Group Treasurer
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PART B – OTHER INFORMATION
1. LISTING AND ADMISSION TO TRADING APPLICATION
(i) Listing and admission to trading: Application has been made by the Issuer (or on its behalf) for the Notes to be admitted to trading on Euronext Paris with effect from the Issue Date.
(ii) Estimate of total expenses related to admission to trading: EUR 8,200 (V AT excluded)
2. RATINGS
Ratings: The Notes to be issued are expected to be rated:
S&P: A+
Moody’s: A1
Fitch Ratings: AA-
S&P, Moody’s and Fitch Ratings are established in the European Union and registered under Regulation (EC) No 1060/2009.
The ratings S&P Global Ratings Europe Limited, Fitch Ratings Ireland Limited and Moody’s France SAS have given to the Notes are each endorsed by a credit agency which is established in the UK and registered under Regulation (EC) No 1060/2009 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018.
3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Except for the commissions related to the issue of the Notes paid to the Joint Lead Managers, so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the issue.
4. REASONS FOR THE ISSUE, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
(i) Reasons for the issue: It is the Issuer’s intention that the Notes constitute “Green, Social or Sustainability Bonds” and to apply an amount equal to the net proceeds of the “Green, Social or Sustainability Bonds” to finance and/or refinance Eligible Loans in the following Green Eligible Categories: Renewable Energy, Green Buildings and Low Carbon Transport, as further described in the Issuer’s Green, Social or Sustainability Bond Framework (and as amended and supplemented from time to time), which is available on the Issuer’s website.
(ii) Estimated net proceeds: EUR 742,694,400
5. YIELD
Indication of yield: 3.617 per cent. per annum
6. OPERATIONAL INFORMATION
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ISIN Code: FR0014019O29
Common Code: 343384092 CFI Code: DTFNFB , as updated and as set out on the website of the Association of National Numbering Agencies (ANNA) or alternatively sourced from the responsible National Numbering Agency that assigned the ISIN
FISN Code: BANQUE FEDERATI/3.5 MTN 20330707 SR, as
updated and as set out on the website of the Association of National Numbering Agencies (ANNA) or alternatively sourced from the responsible National Numbering Agency that assigned the ISIN Any clearing system(s) other than Euroclear Bank SA/NV and Clearstream Banking S.A., Euroclear France and the relevant identification number(s): Not Applicable
Delivery: Delivery against payment Names and addresses of additional Paying Agent(s) (if any): Not Applicable
7. DISTRIBUTION
(i) Method of distribution: Syndicated (ii) If syndicated:
(a) Names of Managers: Crédit Industriel et Commercial S.A.
Danske Bank A/S Deutsche Bank AG
Société Générale
(b) Stabilisation Manager(s) (if any): Société Générale
(iii) If non-syndicated, name of Dealer: Not Applicable (iv) US Selling Restrictions (Categories of potential investors to which the Notes are offered): Reg. S Compliance Category 2 applies to the Notes TEFRA Not Applicable