FICRT 27214 CI FR0014019LJ2

FINAL VERSION APPROVED BY THE ISSUER

The Issuer accepts responsibility for this unsigned document in PDF format dated on the date mentioned below that is the final version of the Final Terms relating to the Securities described herein.

FINAL TERMS FOR NOTES

FINAL TERMS DATED 7 JULY 2026

BNP Paribas Issuance B.V.

(incorporated in The Netherlands)

(as Issuer)

Legal entity identifier (LEI): 7245009UXRIGIRYOBR48

BNP Paribas

(incorporated in France)

(as Guarantor)

Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83

Issue of EUR 30,000,000 Underlying Interest Rate Linked Interest Notes due 21 September 2038

ISIN: FR0014019LJ2

under the Note, Warrant and Certificate Programme of BNP Paribas Issuance B.V., BNP Paribas and BNP Paribas Fortis Funding The Base Prospectus received approval no. 26-151 on 21 May 2026

Any person making or intending to make an offer of the Securities may only do so:

(i) in those Non -exempt Offer Jurisdictions mentioned in Paragraph 50 of Part A below, provided such person is a Manager or an Authorised Offeror (as such term is defined in the Base Prospectus) and that the offer is made during the Offer Period specified in t hat paragraph and that any conditions relevant to the use of the Base Prospectus are complied with; or (ii) otherwise in circumstances in which no obligation arises for the Issuer, the Guarantor or any Manager to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or to supplement a prospectus pursuant to Article 23 of the Prospectus Regulati on, in each case, in relation to such offer.

None of the Issuer, the Guarantor or any Manager has authorised, nor do they authorise, the making of any offer of Securities in any other circumstances.

Investors should note that if a supplement to or an updated version of the Base Prospectus referred to below is published at any time during the Offer Period (as defined below), such supplement or updated base prospectus as the case may be, will be publish ed and made available in accordance with the arrangements applied to the original publication of these Final Terms. Any investors who have indicated acceptances of the Offer (as defined below) prior to the date of publication of such supplement or updated version of the Base Prospectus, as the case may be, (the " Publication Date "), have the right within three working days of the Publication Date to withdraw their acceptances .

2

PART A – CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 21 May 2026, each Supplement to the Base Prospectus published and approved on or before the date of these Final Terms and any other Supplement to the Base Prospectus which may have been published and approved before the issue of any additional amount of Securities (the "Supplements" ) (provided that to the extent any such Supplement (i) is published and approved after the date of these Final Terms and (ii) provides for any change to the Conditions of the Securities such changes shall have no effect with respect to the Conditions of the Securities to which these Final Terms relate) which together constitute a base prospectus for the purposes of Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation" ) (the "Base Prospectus" ). This document constitutes the Final Terms of the Securities described herein for the purposes of the Prospectus Regulation and must be read in conjunc tion with the Base Prospectus to obtain all the relevant information. A summary of the Securities is annexed to these Final Terms. The Base Prospectus, any Supplement(s) to the Base Prospectus and these Final Terms are available for viewing at 1 rue Laffit te, 75009 Paris, France and www.amf -france.org. References herein to numbered Conditions are to the terms and conditions of the relevant series of Securities and words and expressions defined in such terms and conditions shall bear the same meaning in thes e Final Terms in so far as they relate to such series of Securities, save as where otherwise expressly provided. References herein to numbered Conditions are to the terms and conditions of the relevant series of Securities and words and expressions defined in such terms and conditions shall bear the same meaning in these Final Terms in so far as they relate to such s eries of Securities, save as where otherwise expressly provide d.

References herein to numbered Conditions are to the terms and conditions of the relevant series of Securities and words and expressions defined in such terms and conditions shall bear the same meaning in these Final Terms in so far as they relate to such s eries of Securities, save as where otherwise expressly provided.

1. Issuer: BNP Paribas Issuance B.V.

2. Guarantor: BNP Paribas 3. Trade Date, Series Number and

Tranche Number:

(a) Trade Date: 23 June 2026 (b) Series Number: FINTE 27214 CI (c) Tranche Number: 1 4. Issue Date, Interest Commencement Date and Maturity Date:

(a) Issue Date: 7 July 2026 (b) Interest Commencement Date 21 September 2026 (c) Maturity Date: 21 September 2038

3 Business Day Convention for Maturity Date: Following 5. Aggregate Nominal Amount and

Issue Price:

(a) Aggregate Nominal Amount – Series: EUR 30,0 00,000 (b) Aggregate Nominal Amount – Tranche: EUR 30,0 00,000 (c) Issue Price of Tranche: 100.00 per cent. of the Aggregate Nominal Amount of the applicable Tranche.

6. Type of Securities: (a) Notes (b) Redemption/Payment Basis:

Redemption at par (c) Interest Basis:

Underlying Interest Rate Linked Interest (d) The provisions of Annex 11 ( Additional Terms and Conditions for Underlying Interest Rate Securities )

shall apply

Tax Gross -up: Condition 6.3 ( No Gross -up) applicable 7. Form of Securities: Dematerialised bearer form ( au porteur ) Talons for future Coupons or Receipts to be attached to definitive Notes (and dates on which such Talons mature): No Identification information of Holders as provided by Condition 1 in relation to French Law Securities: Applicable 8. Business Days/Payment Days:

(a) Additional Business Centre(s) (Condition 3.1 2) The applicable Additional Business Centre for the purposes of the definition of "Business Day" in Cond ition 3.12 is T2.

(b) Financial Centre(s) or other special provisions relating to Payment Days for the purposes of Condition 4(a): T2 9. Settlement: Settlement will be by way of cash payment (Cash Settled Securities).

4 10. Specified Denomination and

Calculation Amount:

(a) Specified Denomination(s): EUR 1,000 (b) Calculation Amount: EUR 1,000 11. Variation of Settlement: Not applicable 12. Final and Early Redemption

Amount:

(a) Final Redemption Amount: Calculation Amount x 100.00 per cent.

(b) Final Payout: Not applicable (c) Early Redemption Amount: Calculation Amount x 100.00 per cent.

13. Relevant Asset(s): Not applicable 14. Entitlement: Not applicable 15. Exchange Rates:

(a) Exchange Rate: Not applicable (b) Specified Exchange

Rate/Settlement Currency

Exchange Rate: Specified Exchange Rate: Not applicable Settlement Currency Exchange Rate: Not applicable 16. Specified Currency and Settlement

Currency:

(a) Specified Currency: EUR as defined in the definition of "Relevant Currency" in Condition 13 ( Definitions ) (b) Settlement Currency: EUR as defined in the definition of "Relevant Currency" in Condition 13 ( Definitions ) 17. Syndication: The Securities will be distributed on a non -syndicated basis.

18. Minimum Trading Size: EUR 1,000 19. Principal Paying Agent: BNP Paribas Financial Markets S.N.C.

20. Registrar: Not applicable 21. Calculation Agent: BNP Paribas 22. Governing law: French law 23. Masse provisions (Condition 18): Full Masse Name and address of the Representative:

5

SELARL MCM AVOCAT

Contact : rmo@avocat -mcm.com 10 Boulevard Malesherbes, 75008 Paris, France Tel: +33 1 53 43 36 00 Fax: +33 1 53 43 36 01 Name and address of the alternate Representative:

Maître Philippe MAISONNEUVE

Avocat

10 Boulevard Malesherbes, 75008 Paris, France Tel: +33 1 53 43 36 00 Fax: +33 1 53 43 36 01 The Representative will receive a remuneration of EUR 275 per annum plus VAT

PRODUCT SPECIFIC PROVISIONS FOR REDEMPTION

24. Hybrid Linked Redemption Notes: Not applicable 25. Index Linked Redemption Notes: Not applicable 26. Share Linked Redemption Notes/ETI Share Linked Redemption Notes: Not a pplicable 27. ETI Linked Redemption Notes: Not applicable 28. Debt Linked Redemption Notes: Not applicable 29. Commodity Linked Redemption Notes: Not applicable 30. Inflation Index Linked Redemption Notes: Not applicable 31. Currency Linked Redemption Notes: Not applicable 32. Fund Linked Redemption Notes: Not applicable 33. Futures Linked Redemption Notes: Not applicable 34. Credit Securities: Not a pplicable 35. Underlying Interest Rate Linked Redemption Notes: Not applicable 36. Partly Paid Notes: The Securities are not Partly Paid Notes.

37. Instalment Notes: Not applicable

6 38. Illegality (Condition 10.1) and Force Majeure (Condition 10.2): Illegality: redemption in accordance with Condition 10.1(d) Force Majeure: redemption in accordance with Condition

10.2(b)

39. Additional, Optional Additional and CNY Payment Disruption

Events:

(a) Additional Disruption Events and Optional

Additional Disruption

Events: (a) Additional Disrup tion Events: A pplicable (b) The following Optional Additional Disruption Events apply to the Securities:

Administrator/Benchmark Event

(c) Redemption:

Delayed Redemption on Occurrence of an Additional Disruption Event and/or Optional Additional Disruption Event: Not applicable (b) CNY Payment Disruption Event: Not applicable 40. Knock -in Event: Not a pplicable 41. Knock -out Event: Not applicable

ISSUER CALL OPTION, NOTEHOLDER PUT OPTION AND AUTOMATIC EARLY

REDEMPTION

42. Issuer Call Option: Not a pplicable 43. Noteholder Put Option: Not applicable 44. Automatic Early Redemption: Applicable (a) Automatic Early Redemption Event: Standard Automatic Early Redemption – Automatic Early Redemption Event 1 : the SPS AER Value 1 in respect of the AER Event 1 Underlying is equal to or less than the Automatic Early Redemption Level 1 (b) Automatic Early Redemption Payout: SPS Automatic Early Redemption Payout:

NA x ( AER Redemption Percentage + AER Exit Rate)

And where:

AER Redemption Percentage means 100% NA means EUR 1,000 .

SPS AER Value 1 means Underlying Reference Value .

7 SPS Valuation Date means Automatic Early Redemption Valuation Date .

Underlying Reference means t he Underlying Reference Rate .

Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Underlying Reference Rate in respect of such day.

Underlying Reference Strike Price means 1.

Underlying Reference Value means, in respect of an Underlying Reference and a SPS Valuation Date, (i) the Underlying Reference Closing Price Value for such Underlying Reference in respect of such SPS Valuation Date (ii) divided by the relevant Underlying Reference Strike Price.

(c) Automatic Early Redemption Date(s): Each Interest Payment Date from and including the Interest Payment Date due to fall on 21 September 2027 to and including the Interest Payment Date due to fall on 21 September 2037 .

(d) Automatic Early Redemption Level 1: 3.10 per cent.

(e) Automatic Early Redemption Percentage: Not applicable (f) AER Rate: 0.00 per cent.

(g) AER Exit Rate: AER Rate (h) Automatic Early

Redemption Valuation

Date(s)/Period(s): Two (2) T2 Business Days prior to the relevant Automatic Early Redemption Date.

(i) Automatic Early

Redemption Valuation

Time: Not applicable (j) Observation Price Source: Not applicable (k) Underlying Reference Level 1: Not applicable (l) Underlying Reference Level 2: Not applicable (m) SPS AER Valuation: Applicable : SPS AER Value 1 Underlying Reference Value

8 (n) AER Event 1 Underlying(s): See item 47(k)(ii)(A) below (o) AER Event 2 Underlying(s): Not applicable (p) AER Event 1 Basket: Not applicable (q) AER Event 2 Basket: Not applicable (r) Target Automatic Early Redemption Percentage: Not applicable

GENERAL PROVISIONS FOR VALUATION(S)

45. Strike Date, Strike Price, Averaging Date(s), Observation Period and Observation Date(s): Not applicable

46. PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

(a) Interest: Applicable Coupon Switch: Not applicable

(i) Interest

Period(s): As per the Conditions.

(ii) Interest Period End Date(s): 21 September in each year from and including 21 September 2027 to and including 21 September 2038 (iii) Business Day

Convention for

Interest Period

End Date(s): None (iv) Interest Payment Date(s): 21 September in each year from and including 21 September 2027 to and including 21 September 2038 (v) Business Day

Convention for

Interest Payment

Date(s): Following

(vi) Party responsible

for calculating

the Rate(s) of

Interest and

Interest

Amount(s) (if

not the Not applicable

9

Calculation

Agent):

(vii) Margin(s): Not applicable

(viii) Minimum

Interest Rate: As per the Conditions

(ix) Maximum

Interest Rate: Not applicable (x) Day Count

Fraction: None

(xi) Determination

Dates: Not applicable (xii) Accrual to Redemption: Not applicable (xiii) Rate of Interest: Linked Interest (xiv) Coupon Rate: Applicable Digital Coupon applicable Snowball Digital Coupon is applicable:

(A) if the Snowball Digital Coupon Condition is satisfied in respect of SPS Coupon Valuation Date(i):

Rate(i) + SumRate(i); or (B) if the Snowball Digital Coupon Condition is not satisfied in respect of SPS Coupon Valuation Date(i):

zero

Where:

i means 1 to 12, representing each SPS Coupon Valuation Date.

Rate (i) means 6.30 per cent.

Single Snowball Digital Coupon Condition is applicable Snowball Barrier Value means Underlying Reference Value Snowball Digital Coupon Condition means that the Snowball Barrier Value for the relevant SPS Coupon Valuation Date is less than or equal to the Snowball Level Snowball Level means 4.20 per cent.

10 SPS Coupon Valuation Date means Underlying Interest Determination Date.

SPS Valuation Date means SPS Coupon Valuation Date.

SumRate(i) means the sum of Rate(i ) for each SPS Coupon Valuation Date in the period from (but excluding) the last occurring Snowball Date (or if none the Issue Date) to (but excluding) the relevant SPS Coupon Valuation Date.

Underlying Reference means the Underlying Reference Rate.

Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Underlying Reference Rate in respect of such day.

(b) Fixed Rate Provisions: Not applicable (c) Floating Rate Provisions Not applicable (d) Zero Coupon Provisions: Not applicable

PRODUCT SPECIFIC PROVISIONS FOR LINKED INTEREST (IF APPLICABLE)

47. Linked Interest Notes: Applicable (a) Hybrid Linked Interest Notes: Not applicable (b) Index Linked Interest Provisions: Not applicable (c) Share Linked/ETI Share

Linked Interest

Provisions: Not applicable (d) ETI Linked Interest Provisions: Not applicable (e) Debt Linked Interest Provisions: Not applicable (f) Commodity Linked Interest Provisions: Not applicable (g) Inflation Index Linked Interest Provisions: Not applicable (h) Currency Linked Interest Provisions: Not applicable (i) Fund Linked Interest Provisions: Not applicable

11 (j) Futures Linked Interest Provisions: Not applicable (k) Underlying Interest Rate

Linked Interest

Provisions Applicable

(i) Underlying

Interest

Determination

Date(s): Two (2) T2 Business Days prior to the end of the relevant

Interest Period

(ii) Manner in which

the Underlying

Interest Rate is to be determined: Screen Rate Determination

(A) Screen

Rate

Determination: Applicable – Screen Rate Determination – TEC10

(a) Underlyi

ng Reference

Rate: TEC10

(b) Specified

Time: At or after 11.30 a.m., Paris time

(c) Relevant

Screen Page: Reuters page ‘BDFCNOTEC’ (or any successor page thereto)

(B) ISDA

Determination Not applicable

(iii) Underlying

Margin(s): Not applicable

(iv) Minimum

Underlying

Reference Rate: Not applicable

(v) Maximum

Underlying

Reference Rate: Not applicable

DISTRIBUTION

48. U.S. Selling Restrictions: Reg. S Compliance Category 2; TEFRA Not applicable 49. Additional U.S. Federal income tax considerations: The Securities are not Specified Securities for the purpose of Section 871(m) of the U.S. Internal Revenue Code of 1986.

12 50. Non-exempt Offer: Applicable (i) Non-exempt Offer

Jurisdictions: France

(ii) Offer Period: The period from and including 7 July 2026 to and including 21 September 2026 ("Offer End Date ") (iii) Financial intermediaries granted specific consent to use the Base Prospectus in accordance with the Conditions in it: None (iv) General Consent: Applicable (v) Other Authorised Offeror Terms: Not applicable 51. Prohibition of Sales :

(i) Prohibition of Sales to EEA Retail Investors: Not applicable (ii) Prohibition of Sales to Belgian Consumers: Not applicable (iii) Prohibition of Sales to UK Retail Investors: Not applicable (iv) Prohibition of Sales to EEA Non Natural Persons (where Securities are held in a retail account): Not applicable (v) Prohibition of Sales to UK Non Natural Persons (where Securities are held in a retail account): Not applicable

PROVISIONS RELATING TO COLLATERAL AND SECURITY

52. Secured Securities other than Nominal Value Repack Securities: Not applicable 53. Nominal Value Repack Securities: Not applicable 54. Actively Managed Securities: Not applicable

RESPONSIBILITY

13 The Issuer accepts responsibility for the information contained in these Final Terms. To the best of the knowledge of the Issuer (who has taken all reasonable care to ensure that such is the case), the information contained herein is in accordance with the facts and does not omit anything likely to affect the import of such information.

14

PART B – OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING

Application will be made to list the Securities on the Official List of the Luxembourg Stock Exchange and to admit the Securities for trading on the Luxembourg Stock Exchange's regulated market on or around the Issue Date.

2. RATINGS

Ratings: The Securities have not been rated.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER

Save as discussed in the " Potential Conflicts of Interest " paragraph in the " Risks " section in the Base Prospectus, so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.

Investors should be informed that the Authorised Offerors will receive from the Issuer, placement fees implicit in the Issue Price of the Securities equal to a maximum amount of 1.00 per cent. per annum of the Nominal Amount per Security. All placement fees will be paid out upfront.

4. REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer: See "Use of Proceeds" in the Base Prospectus (ii) Estimated net proceeds: EUR 30,000,000 (iii) Estimated total expenses: Not applicable

5. PERFORMANCE OF SHARE AND OTHER INFORMATION CONCERNING THE

UNDERLYING REFERENCE OR REFERENCE RATE

Not applicable .

6. OPERATIONAL INFORMATION

(i) ISIN: FR0014019LJ2

(ii) Common Code: 342933718 (iii) Any clearing system(s) other than Euroclear and

Clearstream, Luxembourg

and Euroclear France approved by the Issuer and the Principal Paying Agent and the relevant identification number(s): Not applicable (iv) Delivery: Delivery against payment

15 (v) Additional Paying Agent(s) (if any): Not applicable (vi) Intended to be held in a manner which would

allow Eurosystem

eligibility: No. Whilst the designation is specified as "no" at the date of these Final Terms, should the Eurosystem eligibility criteria be amended in the future such that the Securities are capable of meeting them the Securities may then be deposited with one of the ICSDs as common safekeeper. Note that this does not necessarily mean that the Securities will then be recognised as eligible collateral for Eurosystem monetary policy and intra -day credit operations by the Eurosystem at any time during their life. Such rec ognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.

7. TERMS AND CONDITIONS OF THE PUBLIC OFFER

Offer Price: The Issue Price Conditions to which the offer is subject: Offers of the Securities are conditional on their issue and on any additional conditions set out in the standard terms of business of the Authorised Offerors, notified to investors by such relevant Authorised Offeror.

The Issuer reserves the right to modify the total nominal amount of the Notes to which investors can subscribe, curtail the offer of the Securities or withdraw the offer of the Securities and/or, if the Securities have not yet been issued, cancel the issua nce of the Securities for any reason at any time on or prior to the Offer End Date ( as defined above ) and advise the Authorised Offeror accordingly. For the avoidance of doubt, if any application has been made by a potential investor and the Issuer exercis es such a right to withdraw the offer, each such potential investor shall not be entitled to subscribe or otherwise acquire the Securities.

Description of the application process: Application to subscribe for the Notes can be made in France at the offices of the relevant Authorised Offeror. The distribution of the Notes will be carried out in accordance with Authorised Offeror’s usual procedures notified to investors by such Authori sed Offeror.

Prospective investors will not be required to enter into any contractual arrangements directly with the Issuer in relation to the subscription for the Notes.

Details of the minimum and/or maximum amount of the application: The minimum amount of application is the Specified Denomination.

Maximum subscription amount per investor:

16 30,000 x Specified Denomination The maximum amount of application of Notes will be subject only to availability at the time of the application.

There are no pre -identified allotment criteria. The Authorised Offerors will adopt allotment criteria that ensure equal treatment of prospective investors. All of the Notes requested through the Authorised Offerors during the Offer Period will be assigned up to the maximum amount of the Offer.

In the event that during the Offer Period the requests exceed the total amount of the offer destined to prospective investors the Issuer, in accordance with the Authorised Offerors, will proceed to early terminate the Offer Period and will immediately susp end the acceptance of further requests.

Description of possibility to reduce subscriptions and manner for refunding amounts paid in excess by applicants: Not applicable Details of the method and time limits for paying up and delivering the Securities: The Securities will be issued on the Issue Date against payment to the Issuer of the net subscription moneys.

Investors will be notified by the relevant Authorised Offeror of their allocations of Securities and the settlement arrangements in respect there of.

Manner and date in which results of the offers are to be made public: Publication on the following website:

https://eqdpo.bnpparibas.com/FR0014019LJ2

Procedure for exercise of any right of pre -emption, negotiability of subscription rights and treatment of subscription rights not exercised: Not applicable Process for notification to applicants of the amount allotted and the indication whether dealing may begin before notification is made: No dealings in the Securities on a regulated market for the purposes of the Markets in Financial Instruments Directive 2014/65/EU may take place prior to the Issue Date.

8. INTERMEDIARIES WITH A FIRM COMMITMENT TO ACT

Name and address of the entities which have a firm commitment to act as intermediaries in secondary trading, providing liquidity through bid and offer rates and a BNP Paribas Financial Markets S.N.C.

20 boulevard des Italiens

75009 Paris

France

17 description of the main terms of their commitment: Daily liquidity: subject to normal market conditions prevailing, Holders may purchase or resell securities (subject to the current outstanding amount of securities) at their market value and with a spread between the bid and offer prices no greater than 1% , on any business day during the life of the securities.

9. PLACING AND UNDERWRITING

Name and address of the co-ordinator(s) of the global offer and of single parts of the offer and to the extent known to the Issuer, of the placers in the various countries where the offer takes

place: None

Name and address of any paying agents and depository agents in each country (in addition to the Principal Paying Agent): Not applicable Entities agreeing to underwrite the issue on a firm commitment basis, and entities agreeing to place the issue without a firm commitment or under "best efforts" arrangements: No underwriting commitment is undertaken by the Authorised Offeror.

When the underwriting agreement has been or will be reached: Not applicable

10. EU BENCHMARKS REGULATION

EU Benchmarks Regulation:

Article 29(2) statement on benchmarks: Not applicable

18

Summary

Section A – Introduction and Warnings

Warnings

This summary should be read as an introduction to the Base Prospectus and the applicable Final Terms.

Any decision to invest in any Securities should be based on a consideration of the Base Prospectus as a whole, including any documents incorporated by reference and the applicable Final Terms.

Investors may be exposed to a partial or total loss of their investment.

Where a claim relating to information contained in the Base Prospectus and the applicable Final Terms is brought before a cou rt in a Member State of the European Economic Area, the plaintiff may, under the national legislation of the Member State where the claim is brought, be required to bear the costs of translating the Base Prospectus and the applicable Final Terms before the legal proceedings are initiated.

Civil liability in any such Member State attaches to the Issuer or the Guarantor (if any) solely on the basis of this summary , including any translation hereof, but only if it is misleading, inaccurate or inconsistent when read together with the other part s of the Base Prospectus and the applicable Final Terms or, it does not provide, when read together with the other parts of the Base Prospectus and the applicable Final Terms, key informat ion in order to aid investors when considering whether to invest in the Securities.

You are about to purchase a product that is not simple and may be difficult to understand.

Name and international securities identification number (ISIN) of the securities

Issue of EUR 30,000,000 Underlying Interest Rate Linked Interest Securities due 21 September 2038 - The securities are Notes. International Securities Identification Number (" ISIN"): FR0014019LJ2 .

Identity and contact details of the issuer

BNP Paribas Issuance B.V. (the " Issuer "), Parnassusweg 789, 1082 LZ Amsterdam, the Netherlands (telephone number: +31(0)88 738 0000). The legal entity identifier of the Issuer is 7245009UXRIGIRYOBR48.

Identity and contact details of the offeror and / or person asking for admission to trading

Person asking for admission to trading: BNP Paribas Issuance B.V. (the “ Issuer ”), Parnassusweg 789, 1082 LZ Amsterdam, the Netherlands (telephone number: +31(0)88 738 0000).

Identity and contact details of the competent authority approving the prospectus

Autorité des Marchés Financiers (" AMF "), 17, place de la Bourse, 75082 Paris Cedex 02, France - +33(0)1 53 45 60 00 - www.amf -france.org

Date of approval of the prospectus

The Base Prospectus has been approved on 21 May 2026 under the approval number 26 -151 by the AMF, as supplemented from time to time.

Section B - Key information on the issuer

Who is the issuer of the securities?

Domicile / legal form / LEI / law under which the issuer operates / country of incorporation

BNPP B.V. was incorporated in the Netherlands as a private company with limited liability under Dutch law having its register ed office at Parnassusweg 789, 1082 LZ Amsterdam, the Netherlands. Legal entity identifier (LEI): 7245009UXRIGIRYOBR48.

BNPP B.V.'s long term credit rating is A+ with a stable outlook (S&P Global Ratings Europe Limited) and BNPP B.V.'s short ter m credit rating is A -1 (S&P Global Ratings Europe Limited).

Principal activities

The principal activity of the Issuer is to issue and/or acquire financial instruments of any nature and to enter into related agreements for the account of various entities within the BNPP Group.

The assets of BNPP B.V. consist of the obligations of other BNPP Group entities. Holders of securities issued by BNPP B.V. wi ll, subject to the provisions of the Guarantee issued by BNPP, be exposed to the ability of BNPP Group entities to perform their ob ligations towards BNPP B.V.

Major shareholders

BNP Paribas holds 100 per cent. of the share capital of BNPP B.V.

Identity of the issuer's key managing directors

The Managing Directors of BNP Paribas Issuance B.V. are Edwin Herskovic, Cyril Le Merrer, Folkert van Asma, Hugo Peek and Mat thew Yandle.

Identity of the issuer's statutory auditors

Deloitte Accountants B.V. are the auditors of the Issuer. Deloitte Accountants B.V. is an independent registered audit firm i n the Netherlands. The relevant auditors of Deloitte Accountants B.V. who have signed the independent auditor’s reports incorporate d by reference into the Base Prospectus are members of the Royal Netherlands Institute of Chartered Accountants (Koninklijke Nederlandse Beroepsorganisatie van Accountants) .

What is the key financial information regarding the issuer?

Key financial information

19

Income statement

Year Year -1 In € 31/12/2025 31/12/2024

Operating profit/loss 224,204 167,327

Balance sheet

Year Year -1 In € 31/12/2025 31/12/2024 Net financial debt (long term debt plus short term debt minus cash) 164,334,371,318 124,228,254,05 7 Current ratio (current assets/current liabilities) 1.0 1.0 Debt to equity ratio (total liabilities/total shareholder equity) 29,275 22,860 Interest cover ratio (operating income/interest expense) n.a. n.a.

Cash flow statement Year Year -1 In € 31/12/2025 31/12/2024 Net Cash flows from operating activities -2,184,469 -471,573 Net Cash flows from financing activities 0 4,500,000 Net Cash flows from investing activities 0 0 Qualifications in the audit report

Not applicable, there are no qualifications in any audit report on the historical financial information included in the Base Prospectus.

What are the key risks that are specific to the issuer?

Not applicable. BNPP B.V. is an operating company. The creditworthiness of BNPP B.V. depends on the creditworthiness of BNPP.

Section C - Key Information on the securities

What are the main features of the securities?

Type, class and ISIN Issue of EUR 30,000,000 Underlying Interest Rate Linked Interest Securities due 21 September 2038 - The securities are Notes. International Securities Identification Number (" ISIN"): FR0014019LJ2 .

Currency / denomination / par value / number of securities issued / term of the securities

The currency of the Securities is Euro (" EUR "). The Securities have a par value of EUR 1,000. 30,000 Securities will be issued. The Securities will be redeemed on 21 September 2038 .

Rights attached to the securities

Negative pledge - The terms of the Securities will not contain a negative pledge provision.

Events of Default - The terms of the Securities will contain events of default including non -payment, non -performance or non -observance of the Issuer's or Guarantor's obligations in respect of the Securities; the insolvency or winding up of the Issuer or Guarantor.

Governing law - The Securities are governed by French law.

Redemption: Unless the Notes have been early redeemed or purchased and cancelled, on the Redemption Date each Holder will receive a payme nt in cash in respect of each Note equal to the Notional Amount.

Coupon Rate:

If EUR -TEC10 -CNO is equal to or less than 4.20%, the Coupon Rate in respect of the relevant Coupon Period will be equal to the sum of (i) Interest Raten and (ii) the sum of Interest Raten in respect of any preceding coupon period for which no interest amount was paid since the immediately preceding coupon period for which an interest amount was paid or, if no interest amount has been paid, from and including the first coupon period . Otherwise, the Coupon Rate in respect of the relevant Coupon Period will be 0.00%. Each such Coupon Rate will be determined on the day that is two (2) T2 Business Days prior to the end of the relevant Coupon Period and payable on each Coupon Payment Date.

Coupon Period: The period from (and including) a Coupon Period End Date (or if none , 21 September 2026 ) to (but excluding) the next (or first) Coupon Period End Date.

Automatic Early Redemption: If on any Automatic Early Redemption Valuation Date EUR -TEC10 -CNO is equal to or less than 3.10%, the Securities will be redeemed by payment in cash in respect of each Note equal to EUR 1,000 on the corresponding Automatic Early Redemption Date.

20

Issue Date 7 July 2026 Issue Price (per Note) 100% Redemption Date 21 September 2038 Product Currency EUR Automatic Early Redemption Valuation Date Two (2) T2 Business Days prior to the relevant Automatic Early Redemption Date. Notional Amount (per Note) EUR 1,000 Automatic Early Redemption Date 21 September in each year from and including 21 September 2027 to and including 21 September 2037 , each date subject to adjustment . EUR -TEC10 -CNO The 10 -year Constant Maturity Yield rate (EUR -TEC10 -CNO) of French government bonds, which appears on Reuters “BDFCNOTEC” (or any successor page thereto) at 11:30 am,

Paris time

Coupon Period End Date 21 September in each year from and including 21 September 2027 to and including 21 September 2038 . Interest Rate n 6.30% Coupon Payment Dates 21 September in each year from and including 21 September 2027 to and including 21 September 2038 , each date subject to adjustment.

Meetings - The terms of the Securities will contain provisions for calling meetings of holders of such Securities to consider matters af fecting their interests generally. These provisions permit defined majorities to bind all holders, including holders who did not attend and vote at the relevant meeting and holders who voted in a manner contrary to the majority.

Representative of holders - The Holders will, in respect of all Tranches in any Series, be grouped automatically for the defence of their common interest s in a masse (the " Masse "). The Masse will act in part through a representative (the "Representative") and in part through a general meeting of the H olders (the "General Meeting") or decisions taken by written resolution (a "Written Resolution").

The names and addresses of the initial Representative of the Masse and its alternate are:

Name and address of the Representative : SELARL MCM AVOCAT - 10 Boulevard Malesherbes, 75008 Paris, France - Tel: +33 1 53 43 36 00 - Fax: +33 1 53 43 36 01 -

Contact : rmo@avocat -mcm.com Name and address of the alternate Representative : Maître Philippe MAISONNEUVE, Avocat - 10 Boulevard Malesherbes, 75008 Paris, France

Seniority of the securities

The Securities are unsubordinated and unsecured obligations of the Issuer and rank pari passu among themselves.

Restrictions on the free transferability of the securities

There are no restrictions on the free transferability of the Securities.

Dividend or payout policy

Not Applicable

Where will the securities be traded?

Admission to trading

Application will be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the Official List o f Luxembourg Stock Exchange.

Is there a guarantee attached to the securities?

Nature and scope of the guarantee

The obligations under the garantie are senior preferred obligations (within the meaning of Article L.613 -30-3-I-3° of the French Code monétaire et financier) and unsecured obligations of BNPP and will rank pari passu with all its other present and future senior preferred and unsecur ed obli gations subject to such exceptions as may from time to time be mandatory under French law. In the event of a bail -in of BNPP but not BNPP B.V., the obligations and/or amounts owed by BNPP under the guarantee shall be reduced to reflect any such modificatio n or reduction applied to liabilities of by BNPP resulting from the application of a bail -in of BNPP by any relevant regulator (including in a situation where the Guarantee itself is not the subject of such bail -in).

The Guarantor unconditionally and irrevocably guarantees to each Holder that, if for any reason BNPP B.V. does not pay any su m payable by it or perform any other obligation in respect of any Security on the date specified for such payment or performance th e Guarantor will, in accordance with the Conditions pay that sum in the currency in which such payment is due in immediately available funds or, as the case may be, perform or p rocure the performance of the relevant obligation on the due date for such perf ormance.

Description of the guarantor

The Securities will be unconditionally and irrevocably guaranteed by BNP Paribas ("BNPP" or the "Guarantor") pursuant to a Fr ench law deed of guarantee executed by BNPP on 21 May 2026 (the "Guarantee"). Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83. The Guarantor was incorporated in France as a société anonyme under French law and licensed as a bank having its head office at 16, boulevard des Italiens - 75009 Paris, France.

BNPP's long term credit ratings are A+ with a stable outlook (S&P Global Ratings Europe Limited), A1 with a stable outlook (M oody's Deutschland GmbH) and AA - with a stable outlook (Fitch Ratings Ireland Limited) (which is the long -term rating assigned to B NPP’s senior preferred debt by Fitch) and BNPP's short -term credit ratings are A -1 (S&P Global Ratings Europe Limited), P -1 (Moody's Deutschland GmbH) and F1+ (Fitch Ratings Ireland Limited).

BNP Paribas’ organisation is based on three operating divisions: Corporate & Institutional Banking (CIB), Commercial, Personal Banking & Services (CPBS) and Investment & Protection Services (IPS).

Corporate and Institutional Banking (CIB) : Global Banking, Global Markets and Securities Services.

21

Commercial, Personal Banking & Services (CPBS) :

- Commercial & Personal Banking in the Euro -zone : Commercial & Personal Banking in France (CPBF), BNL banca commerciale (BNL bc ), Commercial & Personal Banking in Italy, Commercial & Personal Banking in Belgium (CPBB) and Commercial & Personal Banking in Luxembourg (C PBL).

- Commercial & Personal Banking outside the Euro -zone: organised around: Europe -Mediterranean covering Commercial & Personal Banking outside the Euro -zone , in particular in Central and Eastern Europe, Türkiye and Africa.

- Specialised Businesses: BNP Paribas Personal Finance, Arval and BNP Paribas Leasing Solutions, new digital businesses (in particular Nickel, Floa, Ly f) and BNP Paribas Personal Investors.

Investment & Protection Services (IPS) : Insurance (BNP Paribas Cardif ), BNP Paribas Wealth Management, BNP Paribas Asset Management (strengthened in 2025 by the integration of AXA Investment Managers), BNP Paribas Real Estate and IPS Investments (management of the BNP Paribas Group’s portfolio of unlisted and listed industr ial and commercial investments).

As at 31 December 2025, the main shareholders were Société Fédérale de Participations et d'Investissement ("SFPI") a public -interest société anonyme (public limited company) acting on behalf of the Belgian government state holding 5.7% of the share capital , BlackRock Inc. holding 7.1% of the share capital and Grand Duchy of Luxembourg holding 1.2% of the share capital.

Key financial information for the purpose of assessing the guarantor's ability to fulfil its commitments under the Guarantee Since 1 January 2023, BNP Paribas Group’s insurance entities have applied IFRS 17 « Insurance Contracts » and IFRS 9 « Financial Instruments », deferred for these entities until IFRS 17 comes into force .

Income statement

Year Year -1 Interim Comparative interim from same period in

prior year

In millions of € 31/12/2025 31/12/2024 31/03/2026 31/03/2025 Revenues 51,223 48,831 14,056 12,960 Cost of risk -3,350 -2,999 -922 -766 Costs of legal risks on financial instruments -203 -202 -245 -15 Operating Income 16,296 15,437 4,179 3,922 Net Income attributable to equity holders 12,225 11,688 3,217 2,951 Earnings per share (in €) 10.29 9.57 2.73 2.44

Balance sheet

Year Year -1 Interim Comparative interim from same period in

prior year

In millions of € 31/12/2025 31/12/2024 31/03/2026 31/03/2025 Total assets 2,792,981 2,704,908 2,931,529 2,802,044 Debt securities 302,391 302,237 311,766 313,163 Of which mid long term Senior Preferred 137,649* 119,370* n.a. n.a Subordinated debt 35,289 32,615 33,988 32,546 Loans and receivables from customers (net) 897,358 900,141 915,780 894,201 Deposits from customers 1,075,564 1,034,857 1,093,160 1,027,112 Shareholders' equity (Group share) 125,513 128,137 129,979 130,115 Doubtful loans/ gross outstandings** 1.6% 1.6% 1.6% 1.6% Common Equity Tier 1 capital (CET1) ratio 12.6% 12.9% 12.8% (CRR3) 12.4% (CRR3) Total Capital Ratio 17.0% 17.1% 17.3% (CRR3) 16.7% (CRR3) Leverage Ratio 4.5% 4.6% 4.4% 4.4% (*) Regulatory scope (**) Impaired loans (stage 3) to customers and credit institutions, not netted of guarantees, on -balance sheet and off -balance sheet and including debt securities measured at amortised costs or at fair value through shareholders' equity reported (excluding insurance) and on gross outstanding loans to customers and credit institutions, on -balance sheet and off -balance sheet and including debt securities measured at amortised costs or at fair value through shareholders' equity (excluding insurance) and includ ing the effects of IFRS 5 standard application in relation to Non current assets held for sale.

Most material risk factors pertaining to the guarantor

1. A substantial increase in new provisions or a shortfall in the level of previously recorded provisions exposed to credit r isk and counterparty risk could adversely affect the BNP Paribas Group's results of operations and financial condition.

2. The BNP Paribas Group’s risk management policies, procedures and methods may leave it exposed to unidentified or unanticip ated risks, which could lead to material losses.

3. The BNP Paribas Group may incur significant losses on its trading and investment activities due to market fluctuations and volatility.

4. The BNP Paribas Group's access to and cost of funding could be adversely affected by a resurgence of financial crises, wor sening economic conditions, rating downgrades, increases in sovereign credit spreads or other factors.

5. Adverse economic and financial conditions have in the past and may in the future significantly affect on the BNP Paribas G roup and the markets in which it operates.

6. Laws and regulations in force, as well as current and future legislative and regulatory developments, may significantly im pact the BNP Paribas Group and the financial and economic environment in which it operates.

22 7. Should the BNP Paribas Group fail to implement its strategic objectives or to achieve its published financial objectives, or should its results not follow stated expected trends, the trading price of its securities could be adversely affected.

What are the key risks that are specific to the securities?

Most material risk factors specific to the securities

There are also risks associated with the Securities, including:

1. Risks related to the structure of the securities:

The variable rate of return of the Securities is dependent upon the performance of EUR -TEC10 -CNO .

2. Risks related to disruption and adjustments:

If an Administrator/Benchmark Event occurs, the Securities may be subject to adjustment or early redemption. Such consequence s may have a material adverse effect on the value and liquidity of the Securities and/or the return a Holder can expect to receive on their investment.

3. Risks related to the trading markets of the securities:

The trading price of the Securities may be affected by a number of factors including, but not limited to, the time remaining until the scheduled redemption date of the Securities. The possibility that the value and trading price of the Securities will fluctuate (either positively or ne gatively) depends on a number of fac tors, which investors should consider carefully before purchasing or selling Securities.

4. Legal risks:

The terms of the Securities will contain provisions for calling meetings of holders of such Securities to consider matters af fecting their interests generally.

These provisions permit defined majorities to bind all holders, including holders who did not at tend and vote at the relevant meeting and holders who voted in a manner contrary to the majority.

Section D - Key Information on the offer of securities to the public and/or admission to trading on a

regulated market

Under which conditions and timetable can I invest in this security?

General terms, conditions and expected timetable of the offer

The securities will be offered to the public from and including 7 July 2026 to and including 21 September 2026 , subject to any early closing or extension of the offer period.

Application will be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the Official List o f Luxembourg Stock Exchange.

Estimate of the total expenses of the issue and/or offer, including estimated expenses charged to the investor by the issuer or the offeror

No expenses will be charged to the investors by the issuer.

Who is the offeror and/or the person asking for admission to trading?

Description of the offeror and / or person asking for admission to trading

Person asking for admission to trading: BNP Paribas Issuance B.V. (the “Issuer”), Herengracht 595, 1017 CE Amsterdam, the Net herlands (telephone number:

+31(0)88 738 0000).

Why is this prospectus being produced?

Use and estimated net amount of the proceeds

The net proceeds from the issue of the Securities will become part of the general funds of the Issuer. Such proceeds may be u sed to maintain positions in options or futures contracts or other hedging instruments.

Estimated net proceeds: EUR 30,000,000

Underwriting agreement

No underwriting commitment is undertaken.

Most material conflicts of interest pertaining to the offer or the admission to trading

Any Manager and its affiliates may also have engaged, and may in the future engage, in investment banking and/or commercial b anking transactions with, and may perform other services for, the Issuer and the Guarantor and their affiliates in the ordinary cou rse of business.

Various entities within the BNPP Group (including the Issuer and Guarantor) and Affiliates undertake different roles in conne ction with the Securities, including Issuer of the Securities and Calculation Agent of the Securities and may also engage in tradin g activities (including hedging activities) relating to the Underlying and other instruments or derivative products based on or relating to the Underlying which may give rise to potential conflict s of interest.

BNP Paribas, which acts as Manager and Calculation Agent is an Affiliate of the Issuer and the Guarantor and potential confli cts of interest may exist between it and holders of the Securities, including with respect to certain determinations and judgments that the Calculation Agent must make. The economic interests of the Issuer and of BNP Paribas as Manager and Calculation Agent are potentially adverse to Holders interests as an investor in the Securities.

Other than as mentioned above, so far as the Issuer is aware, no person involved in the issue of the Securities has an intere st material to the offer, including conflicting interests.

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Résumé

Section A - Introduction et avertissements

Avertissements

Le présent résumé doit être lu comme une introduction au Prospectus de Base et aux Conditions Définitives applicables.

Toute décision d’investir dans les Titres concernés doit être fondée sur un examen exhaustif du Prospectus de Base dans son e nsemble, y compris tous documents incorporés par référence et les Conditions Définitives applicables.

Les investisseurs peuvent être exposés à une perte partielle ou totale de leur investissement.

Lorsqu’une action concernant l’information contenue dans le Prospectus de Base et les Conditions Définitives applicables est intentée devant un tribunal d’un État Membre de l’Espace Économique européen, l’investisseur plaignant peut, selon la législation n ationale de l’État Membre où l’action est intentée, avoir à supporter les frais de traduction de ce Prospectus de Base et des Conditions Définitives applicables avant le début d e la procédure judiciaire.

Aucune responsabilité civile ne sera recherchée auprès de l’Émetteur ou du Garant dans cet État Membre sur la seule base du p résent résumé, y compris sa traduction, à moins que le contenu du résumé ne soit jugé trompeur, inexact ou contradictoire par rappo rt aux autres parties du Prospectus de Base et des Conditions Définitives applicables, ou à moins qu’il ne fournisse pas, lu en combinaison avec les autres parties du Prosp ectus de Base et des Conditions Définitives applicables, les informations clés perme ttant d’aider les investisseurs lorsqu’ils envisagent d’investir dans les Titres.

Vous êtes sur le point d’acquérir un produit qui n’est pas simple et qui peut être difficile à comprendre.

Nom et numéro d’identification Iinternationale de titres ( International Securities Identification Number - ISIN) des titres

Émission de « EUR 30,000,000 Underlying Interest Rate Linked Interest Securities due 21 September 2038 » - Les titres sont des Obligations. Code ISIN (« International Securities Identification Number »): FR0014019LJ2 .

Identité et coordonnées de l’émetteur

BNP Paribas Issuance B.V. (l’« Émetteur »), Parnassusweg 789, 1082 LZ Amsterdam, Pays -Bas (numéro de téléphone : +31(0)88 738 0000). L’Identifiant d’Entité Légale (LEI) de l’Émetteur est 7245009UXRIGIRYOBR48.

Identité et coordonnées de l’offreur et/ou de la personne demandant l’admission à la négociation Personne demandant l’admission à la négociation : BNP Paribas Issuance B.V. (l’« Émetteur »), Parnassusweg 789, 1082 LZ Amsterdam, Pays -Bas (numéro de téléphone : +31(0)88 738 0000).

Identité et coordonnées de l’autorité compétente approuvant le prospectus

Autorité des Marchés Financiers (« AMF »), 17, place de la Bourse, 75082 Paris Cedex 02, France - +33(0)1 53 45 60 00 - www.amf -france.org

Date d’approbation du prospectus

Le Prospectus de Base a été approuvé par l’AMF le 21 mai 2026 sous le numéro d’approbation 26 -151, tel que complété de temps à autre.

Section B - Informations clés sur l’émetteur

Qui est l’émetteur des titres ?

Domicile / forme juridique / LEI / droit en vertu duquel l’émetteur opère / pays de constitution

BNPP B.V a été constituée aux Pays -Bas sous la forme d’une société non cotée en bourse à responsabilité limitée de droit néerlandais, et son siège social est situé Parnassusweg 789, 1082 LZ Amsterdam, Pays -Bas. Identifiant d’Entité Légale (LEI) : 7245009UX RIGIRYOBR48.

La note de crédit à long terme de BNPP B.V. est A+ avec perspective stable (S&P Global Ratings Europe Limited) et la note de crédit à court terme de BNPP B.V. est A -1 (S&P Global Ratings Europe Limited).

Activités principales

L’Émetteur a pour activité principale d’émettre et/ou d’acquérir des instruments financiers de toute nature et de conclure de s contrats à cet effet pour le compte de différentes entités au sein du Groupe BNPP.

Les actifs de BNPP B.V. sont constitués des obligations des autres entités du Groupe BNPP. Les porteurs de Titres émis par BN PP B.V. seront, sous réserve des dispositions de la Garantie pertinente émise par BNPP, exposés à la capacité des entités du Groupe BNPP à exécuter leurs obligations envers BNPP B.V.

Actionnaires principaux

BNP Paribas détient 100% du capital social de BNPP B.V.

Identité des directeurs généraux clés de l’émetteur

Les Directeurs généraux de BNP Paribas Issuance B.V. sont Edwin Herskovic, Cyril Le Merrer, Folkert van Asma, Hugo Peek et Ma tthew Yandle.

Identité des commissaires aux comptes de l’émetteur

Deloitte Accountants B.V. sont les auditeurs de l'Emetteur. Deloitte Accountants B.V. est un cabinet d'audit agréé indépendant aux Pays -Bas. Les auditeurs concernés de Deloitte Accountants B.V. qui ont signé les rapports d’audit indépendant incorporés par référence dans le pr ospectus de base sont membres de l'Institut royal néerlandais des comptables agréés (Koninklijke Nederlandse Beroepsorganisatie van Accountants).

Quelles sont les informations financières clés concernant l’émetteur ?

Informations financières clés

24 Compte de résultat Année Année -1 En € 31/12/2025 31/12/2024

Bénéfice/perte d’exploitation 224,204 167,327

Bilan

Année Année -1 En € 31/12/2025 31/12/2024 Endettement financier net (dette à long terme plus dette à court terme moins trésorerie) 164,334,371,318 124,241,216,00 5 Ratio courant (actif courant/passif courant) 1.0 1.0 Ratio dette sur capitaux propres (total du passif/total des capitaux propres) 29,275 22,860 Ratio de couverture des intérêts (résultat d’exploitation/charge d’intérêts) n.a. n.a.

État des flux de trésorerie Année Année -1 En € 31/12/2025 31/12/2024 Flux de trésorerie net provenant des activités d’exploitation -2,184,469 -471,573 Flux de trésorerie net provenant des activités de financement 0 4,500,000 Flux de trésorerie nets provenant des activités d’investissement 0 0

Qualifications dans le rapport d’audit

Sans objet, il n’existe aucune réserve dans le rapport d’audit sur les informations financières historiques contenues dans le Prospectus de Base.

Quels sont les principaux risques spécifiques à l’émetteur ?

Sans objet. BNPP B.V. est une société opérationnelle. La solvabilité de BNPP B.V. dépend de la solvabilité de BNPP.

Section C - Informations clés sur les titres

Quelles sont les principales caractéristiques des titres ?

Type, catégorie et ISIN

Émission de « EUR 30,000,000 Underlying Interest Rate Linked Interest Securities due 21 September 2038 » - Les titres sont des Obligations. Code ISIN (« International Securities Identification Number »): FR0014019LJ2 .

Devise / dénomination / valeur au pair / nombre de titre émis / terme des titres

La devise des Titres est l’euro (« EUR »). Les Titres ont une valeur au pair de 1 000 EUR. 30 000 Titres seront émis. Les Titres seront remboursés le 21 septembre 2038.

Droits attachés aux Titres

Maintien de l’Emprunt à son Rang - Les modalités des Titres ne contiendront aucune clause de maintien de l’emprunt à son rang.

Cas de défaut - Les modalités des Obligations prévoiront des cas de défaut, y compris le défaut de paiement, le défaut d’exécution ou le non -respect des obligations de l’Émetteur ou du Garant en vertu des Titres ; l’insolvabilité ou la liquidation de l’Émetteur ou du G arant.

Droit applicable - Les Titres sont régis par le droit français.

Scénario à maturité : À moins que les notes n’aient fait l’objet d’un remboursement anticipé ou d’un rachat et d’une annulation, à la date de racha t, chaque porteur recevra un remboursement à l’égard de chaque note égal au montant notionnel.

Montant de coupon:

Si EUR -TEC10 -CNO ans est inférieur ou égal à 4,20%, le taux du coupon applicable à la période de coupon concernée sera égal à la somme de (i) le taux de coupon et (ii) la somme du taux de coupon correspondant à chaque période de coupon précédente pour laquelle aucun montant d’intérêt n’a été paye depuis la période de coupon immédiatement précédente pour laquelle un montant d’intérêt a été paye ou, si aucun montant d’intérêt n’a été paye, à partir de et incluant la première période de coupon. Dans le cas contraire, le taux du coupon applicable à la période de coupon concernée sera de 0,00 %. Chaque taux de coupon ainsi déterminé le sera le jour qui se situe deux (2) jours ouvrés avant la fin de la période de coupon concer née et il sera payable à chaque date de paiement du coupon.

25

Remboursement anticipé automatique: Si, à une Date d'évaluation de remboursement anticipé automatique, le cours de clôture du Sous -jacent est inférieur(e)) ou égale à 3,10%, le produit sera remboursé à la date correspondante. Vous recevrez, par Note un montant équivalent à la Valeur nominale.

Date d’émission 7 juillet 2026 Prix d’émission (par Note) 100% Date de remboursement (échéance) 21 septembre 2038 Devise du produit EUR Date(s) d'évaluation de

remboursement anticipé

automatique Le jour qui tombe deux jours de activité avant la fin de la Date de

remboursement anticipé

automatique applicable. Valeur nominale (par Note) EUR 1,000 Date(s) de remboursement anticipé automatique 21 septembre de chaque année à partir du 21 septembre 2027 inclus jusqu’au 21 September 2037 inclus , chaque date pouvant faire l’objet d’un ajustement . EUR -TEC10 -CNO Taux de l’Echéance Constante à 10 ans (CNO -TEC 10) des obligations assimilables du Trésor français, tel que publié sur la page Reuters BDFCNOTEC et devant être observé à ou après 11h30 (heure de

Paris)

La période de coupon 21 septembre de chaque année à partir du 21 septembre 2027 inclus jusqu’au 21 septembre 2028 inclus . Taux de Coupon n 6,30% Date(s) de paiement de coupons conditionnels 21 septembre de chaque année à partir du 21 septembre 2027 inclus jusqu’au 21 septembre 2038 inclus , chaque date pouvant faire l’objet d’un ajustement.

Assemblées - Les modalités des Titres contiendront des dispositions relatives à la convocation d’assemblées générales des titulaires de ce s Titres, afin d’examiner des questions affectant leurs intérêts en général. Ces dispositions permettront à des majori tés définies de lier tous les titulaires, y compris ceux qui n’auront pas assisté ni voté à l’assemblée concernée et ceux qui auront voté d’une manière contraire à celle de la majori té.

Représentant des porteurs - Les porteurs, en ce qui concerne tous les virements de n'importe quelle série, seront regroupés automatiquement pour la défen se de leurs intérêts communs en une foule (la "Masse"). La Masse agira en partie par l'intermédiaire d'un représentant (le "Repr ésentant") et en partie par l'intermédiaire d'une assemblée générale des porteurs (l’ "Assemblée générale") ou décisions prises par résolution écrite (un e "Résolution Ecrite").

Les noms et adresses du représentant initial de la Masse et de son suppléant sont les suivants:

Nom et adresse du représentant : SELARL MCM AVOCAT - 10 Boulevard Malesherbes, 75008 Paris, France - Tél. : +33 1 53 43 36 00 - Fax : +33 1 53 43 36 01 -

Contact : rmo@avocat -mcm.com Nom et adresse du représentant suppléant : Maître Philippe MAISONNEUVE, Avocat - 10 Boulevard Malesherbes, 75008 Paris, France

Ancienneté des titres

Les Titres constituent des obligations non assorties de sûretés et non subordonnées de l’Émetteur qui viennent au même rang e ntre eux.

Restrictions de la libre négociation des titres

Il n’existe pas de restrictions de la libre négociation des Titres.

Dividende ou politique de paiement

Non applicable

Où les titres seront -ils négociés ?

Admission à la négociation

L’Emetteur (ou pour son compte) fera la demande d’admission des Titres à la cote officielle de la Bourse de Luxembourg.

Existe -t-il une garantie attachée aux titres ?

Nature et portée de la garantie

Les obligations au titre de la garantie sont des obligations privilégiées de premier rang (au sens de l’article L.613 -30-3-I-3° du Code monétaire et financier) et des obligations non assorties de sûretés de BNPP et seront de même rang que ses autres obliga tions privilégiées de premier rang et non assorties de sûretés actuelles et futures, sous réserve des exceptions qui peuvent de temps à autre être obligatoires en vertu du droit fr ançais.

Dans le cas d’un bail -in de BNPP mais pas de BNPP B.V., les obligations et/ou montants dus par BNPP au titre de la garantie seront réduits afin d’i llustrer toute modification ou réduction appliquée au passif de BNPP, suite au bail -in de BNPP par un régulat eur compétent (y compris dans une situation où la Garantie elle -même ne fait l’objet d’aucun bail -in).

Le Garant garantit inconditionnellement et irrévocablement à chaque Titulaire que, si pour quelque raison que ce soit, BNPP B .V. ne verse pas une somme qu’elle doit payer ou ne remplit pas une autre obligation liée aux Titres à la date spécifiée pour ce pa iement ou l’exécution de cette obligation, conformément aux Conditions, le Garant paiera cette somme dans la devise dans laquelle le paiement est dû, en fonds immédiate ment disponibles, ou, le cas échéant, remplira ou fera remplir l’obligation concernée à la date prévue pour l’exécution.

Description du Garant

Les Titres seront inconditionnellement et irrévocablement garantis par BNP Paribas (« BNPP » ou le « Garant ») en vertu d’un acte de garantie de droit France signé par BNPP le 21 mai 2026 (la « Garantie »).

26 Le Garant a été constitué en France sous la forme d’une société anonyme de droit français et agréée en qualité de banque, don t le siège social est situé 16, boulevard des Italiens - 75009 Paris, France. Identifiant d’Entité Légale (LEI) : R0MUWSFPU8MPRO8K5 P83.

Les notations de crédit à long terme de BNPP sont : A+ avec une perspective stable (S&P Global Ratings Europe Limited), A1 av ec une perspective stable (Moody's Deutschland GmbH) et AA - avec une perspective stable (Fitch Ratings Ireland Limited) (qui est la notation long -terme attribuée à la dette senior préférée de BNPP par Fitch), et les notations de crédit à court terme de BNPP sont : A -1 (S&P Global Ratings Europe Limited), P -1 (Moody's Deutschland GmbH) et F1+ (Fitch Ratings Ireland Limited).

Corporate and Institutional Banking (CIB) : Global Banking, Global Markets et Securities Services.

Commercial, Personal Banking & Services (CPBS) :

- Commercial & Personal Banking dans la zone euro : Commercial & Personal Banking en France (CPBF), BNL banca commerciale (BNL bc), Commercial & Personal Banking en Italie, Commercial & Personal Banking en Belgique (CPBB), Commercial & Personal Banking au Luxembourg ( CPBL).

- Commercial & Personal Banking en dehors de la zone euro, organisé autour de : Europe Méditerranée, couvrant les banques commerciales hors zone euro, notamment en Europe centrale, en Europe de l'Est, en Turquie et en Afrique.

- Métiers spécialisés : BNP Paribas Personal Finance, Arval et BNP Paribas Leasing Solutions, les nouveaux métiers numériques spécialisés (en particu lier Nickel, Floa, Lyf) et BNP Paribas Personal Investors.

Investment & Protection Services (IPS) : Investment & Protection Services (IPS): l’Assurance (BNP Paribas Cardif ), BNP Paribas Wealth Management, BNP Paribas Asset Management (renforcé en 2025 par l'intégration d'AXA Investment Managers), BNP Paribas Real Estate et IPS I nvestments (la gestion du portefeuille de participations industrielles et commerciales non cotées et cotées du Groupe BNP Paribas).

Au 31 décembre 2025, les principaux actionnaires étaient la Société Fédérale de Participations et d'Investissement ("SFPI"), société anonyme d'intérêt public agissant pour le compte de l'Etat belge, qui détient 5,7% du capital social, BlackRock Inc. qui dé tient 7,1% du capital social et le Grand -Duché de Luxembourg qui détient 1,2% du capital social .

Informations financières clés afin d'évaluer la capacité du garant à remplir ses engagements au titre de la garantie Depuis le 1er janvier 2023, les entités d'assurance du Groupe BNP Paribas appliquent IFRS 17 " Contrats d'assurance " et IFRS 9 " Instruments financiers ", différés pour ces entités jusqu'à l'entrée en vigueur d'IFRS 17.

Compte de résultat Année Année -1 Intermédiaire Valeur intermédiaire pour la même période de l’année précédente pour comparaison En millions d'€ 31/12/2025 31/12/2024 31/03/2026 31/03/2025 Produit Net Bancaire 51 223 48 831 14 056 12 960 Coût du risque -3 350 -2 999 -922 -766 Coûts des risques juridiques sur instruments financiers -203 -202 -245 -15 Résultat d’exploitation 16 296 15 437 4 179 3 922 Résultat net, part du Groupe 12 225 11 688 3 217 2 951 Résultat par action 10,29 9,57 2,73 2,44

Bilan

Année Année -1 Intermédiaire Valeur intermédiaire pour la même période de l’année précédente pour comparaison En millions d'€ 31/12/2025 31/12/2024 31/03/2026 31/03/2025 Total des actifs 2 792 981 2 704 908 2 931 529 2 802 044 Dettes représentées par un titre 302 391 302 237 311 766 313 163 Dont dettes senior préférées à moyen long terme 137 649* 119 370* n.a. n.a Dettes subordonnées 35 289 32 615 33 988 32,546 Prêts et créances sur la clientèle 897 358 900 141 915 780 894 201 Dettes envers la clientèle 1 075 564 1 034 857 1 093 160 1 027 112 Capitaux propres (part du Groupe) 125 513 128 137 129 979 130 15 Créances douteuses / encours bruts** 1,6% 1,6% 1.6% 1,6% Ratio Common Equity Tier 1

(CET1) 12,6% 12,9% 12,8% (CRR3) 12,4% (CRR3)

Ratio de fonds propres total 17,0% 17,1% 17,3% (CRR3) 16,7% (CRR3) Ratio de levier 4,5% 4,6% 4,4% 4,4%

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(*) Périmètre prudentiel (**) Encours dépréciés (stage 3), bilan et hors bilan, non nettés des garanties reçues, sur la clientèle et les établissements de crédit, y compris les titres de dette au coût amorti et les t itres de dette en valeur de marché par capitaux propres (hors assurance) sur les encours bruts sur la clientèle et les établisseme nts de crédit, bilan et hors bilan, y compris titres au coût amorti et les titres de dette en valeur de marché par capitaux propres (hors assurance) et y compris les effets de l'application de la norm e IFRS 5 en relation avec les actifs non courants détenu s en vue de leur cession.

Principaux facteurs de risque liés au Garant 1. Toute augmentation substantielle des provisions ou tout engagement insuffisamment provisionné au titre du risque de crédit et de contrepartie pourrait peser sur les résultats et sur la situation financière du Groupe BNP Paribas.

2. Les politiques, procédures et méthodes de gestion du risque mises en œuvre par le Groupe BNP Paribas pourraient l’exposer à des risques non identifiés ou imprévus, susceptibles d’occasionner des pertes significatives.

3. Les fluctuations de marché et la volatilité exposent le Groupe BNP Paribas au risque de pertes substantielles dans le cadr e de ses activités de marché et d'investissement.

4. L'accès du Groupe BNP Paribas au financement et les coûts de ce financement pourraient être affectés de manière défavorabl e en cas de résurgence des crises financières, de détérioration des conditions économiques, de dégradation de notation, d'accroisse ment des spreads de crédit des États ou d'autres facteurs.

5. Un contexte économique et financier défavorable a pu par le passé, et pourrait à l'avenir, affecter significativement le G roupe BNP Paribas et les marchés sur lesquels il opère.

6. Des mesures législatives et règlementaires en vigueur, ainsi que des évolutions législatives et règlementaires en cours ou à venir, pourraient affecter de manière significative le Groupe BNP Paribas ainsi que l'environnement financier et économique dans lequel il opère.

7. Si le Groupe BNP Paribas ne parvenait pas à réaliser ses objectifs stratégiques, ou si ses résultats ne suivaient pas les tendances prévues, le cours de ses instruments financiers pourrait en être défavorablement affecté.

Quels sont les principaux risques spécifiques aux titres ?

Principaux facteurs de risque spécifiques aux titres

Il y a également les risques associés aux Titres, notamment :

1. Risque relatif à la structure des Titres :

Le taux variable de rendement des Titres dépendent de la performance des EUR -TEC10 -CNO .

2. Risques relatifs aux perturbations et ajustements :

Si un Événement de l’Administrateur ou de Référence se produit, les Titres pourraient faire l’objet d’ajustements ou d’un rem boursement anticipé. Ces conséquences pourraient avoir un effet négatif important sur la valeur et la liquidité des Titres et/ou su r le rendement qu’un Titulaire peut espérer recevoir sur son investissement.

3. Risque relatif aux marchés sur lesquels sont négociés les titres :

Le cours des Titres peut être affecté par différents facteurs, y compris, sans s’y limiter, le temps restant jusqu’à la date de remboursement prévue des Titres.

La possibilité que la valeur et le cours des Titres fluctuent (de manière positive comme négati ve) dépend d’un certain nombre de facteurs, que les investisseurs doivent examiner attentivement avant d’acheter ou de vendre des Titres.

4. Risques juridiques :

Les modalités des Titres contiendront des dispositions relatives à la convocation d’assemblées générales des titulaires de ce s Titres, afin d’examiner des questions affectant leurs intérêts en général. Ces dispositions permettront à des majorités définies de lier tous les titulaires, y compris ceux qui n’auront pas assisté ni voté à l’assemblée concernée et ceux qui auront voté d’une manière contraire à celle de la majorité.

Section D - Informations clés sur l’offre de titres au public et/ou l’admission à la négociation sur un marché

réglementé

Dans quelles conditions et selon quel calendrier puis -je investir dans ce titre ?

Conditions générales, modalités et calendrier prévu de l’offre

Les titres seront offerts au public entre le 7 juillet 2026 inclus et le 21 septembre 2026 inclus, sous réserve de toute clôture anticipée ou prolongation de la période d’offre.

L’Emetteur (ou pour son compte) fera la demande d’admission des Titres à la cote officielle de la Bourse de Luxembourg.

Estimation du total des frais liés à l’émission et/ou l’offre, y compris l’estimation des frais facturés à l’investisseur par l’émetteur ou l’offreur

Il n’existe pas de frais facturés aux investisseurs par l’émetteur.

Qui est l’offreur et/ou la personne demandant l’admission à la négociation  ?

Description de l’offreur et/ou de la personne demandant l’admission à la négociation

Personne demandant l’admission à la négociation : BNP Paribas Issuance B.V. (l’« Émetteur »), Herengracht 595, 1017 CE Amsterdam, Pays -Bas (numéro de téléphone : +31(0)88 738 0000).

Pourquoi le présent prospectus est -il édité ?

28 Utilisation et montant net estimé des produits

Les produits nets de l’émission des Titres seront affectés aux besoins généraux de financement de l’Émetteur. Ces produits po urront être utilisés pour maintenir des positions sur des contrats d’options, des contrats à terme ou d’autres instruments de couve rture.

Produit net estimé : 30 000 000 EUR

Contrat de prise ferme

Aucun contrat de prise ferme n’est conclu.

Principaux conflits d’intérêts relatifs à l’offre ou à l’admission à la négociation

BNP Paribas et ses filiales peuvent également avoir conclu, et pourraient dans le futur conclure des transactions en tant que banque d’investissement ou banque commerciale avec, et peuvent fournir des services à, l’Émetteur et le Garant et leurs filiales r espectives dans le cadre d’activités courantes.

Différentes entités au sein du Groupe BNPP (y compris l’Émetteur et le Garant) et leurs Filiales assument différentes fonctio ns en lien avec les Titres, y compris Émetteur des Titres et Agent de Calcul des Titres, ce qui peut entraîner de potentiels confli ts d’intérêts.

BNP Paribas, qui agit en tant qu’Agent de Calcul, est une Filiale de l’Émetteur et du Garant et de potentiels conflits d’inté rêts peuvent exister entre cette entité et les porteurs de Titres, y compris concernant certaines décisions et certains jugements q ue l’Agent de Calcul doit prendre. Les intérêts économiques de l’Émetteur et de BNP Paribas en tant qu’Agent de Calcul sont potentiellement défavorables aux intérêts des Titulaires en tant qu’investisseurs dans les Titres.

Exception faite de ce qui est mentionné ci -dessus, aucune personne intervenant dans l’émission des Titres ne détient, à la connaissance de l’Émetteur, un intérêt pouvant influer sensiblement sur l’offre, y compris des intérêts conflictuels.