PRIIPS REGULATION - PROHIBITION OF SALES TO EEA RETAIL IN VESTORS - The Obligations Foncières
are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ( the "EEA "). For these purposes, a retail investor means a person who is o ne (or both) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (as amended, "MiFID II ");
or (ii) a customer within the m eaning of Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution , as amended where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II . Consequently, no key information document required by Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance -based investment products (as amended, the "PRIIPs Regulation ") for offering or selling the Obligations Foncières or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Obligations Foncières or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIP s Regulation.
UK RETAIL INVESTORS - PROHIBITION OF SALES TO UK RETAIL INVESTO RS – The Obligations Foncières
are not intended to be offered, sold , distributed or otherwise made available to and should not be offered, sold , distributed or otherwise made available to any retail investor in the United Kingdom (the " UK"). For these purp oses, a retail investor means a person who is either one (or both) of the following : (i) not a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUW A ") ; or (ii) not a qualified investor as defined in paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 . Consequently , no disclosure document required by the FCA Product Disclosure Sourcebook (" DISC ") for offering, selling or distributing the Obligations Foncières or otherwise making them available to retail investors in the UK ha s been prepared and therefore offering , selling or distributing the Obligations Foncières or otherwise making them available to any retail investor in the UK may be unlawful under the DISC and the Consumer Composite Investments (Designated Activities) Regu lations 2024 .
MiFID II product governance / Professional investors and eligible counterparties only target market – Solely for the purposes of the manufacturer ’s product approval process, the target market assessment in respect of the Obligations Foncières , taking into account the five (5) categories referred to in item 19 of the Guidelines published by the European Securities and Markets Authority ("ESMA ") on 3 August 2023 , has led to the conclusion that: (i) the target market for the Obligations Foncières is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the Obligations Foncières to eli gible counterparties and professional clients are appropriate.
Any person subsequently offering, selling or recommending the Obligations Foncières (a "distributor ") should take into consideration the manufacturer ’s target market assessment; however, a dist ributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Obligations Foncières (by either adopting or refining the manufacturer ’s target market assessment) and determining appropriate distribution channe ls.
Final Terms dated 6 July 2026
CAISSE FRANÇAISE DE FINANCEMENT LOCAL
(the "Issuer ") Legal entity identifier (LEI): 549300E6W08778I4OW85
Issue of Euro 155,000,000 3.664 per cent. Obligations Foncières due 8 July 2041 (the " Obligations Foncières ")
under the
€75,000,000,000
Euro Medium Term Note Programme for the issue of Obligations Foncières
SERIES NO: 2026-10 SOCIAL
TRANCHE NO: 1
Issue Price: 100.00 per cent.
MANAGER
NATIXIS
Classification: [C2]:Diffusion restreinte
3 PART A – CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the "Conditions ") set forth in the base prospectus dated 1 June 2026 which received approval number 26-171 from the Autorité des marchés financiers (the "AMF ") on 1 June 202 6 (the "Base Prospectus ") which constitute s a base prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2 017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, as amended (the "Prospectus Regulation ").
This document constitutes the final terms (the "Final Terms ") of the Obligations Foncières for the purposes of Article 8.4 of the Prospectus Regulation and must be read in conjunction with such Base Prospectus in order to obtain all the relevant information . The Base Prospectus and the se Final Terms are available for viewin g free of charge on the website of the AMF ( www.amf -france.org ) and on the website of the Issuer (https://sfil.fr/caffil -notre -filiale/ ) in accordance with applicable laws and regulation s. In addition, the Base Prospectus and these Final Terms are available for viewing on the website of the Luxembourg Stock Exchange ( www.bourse.lu ).
1 Issuer: Caisse Français e de Financement Local 2 (i) Series Number: 2026-10 SOCIAL (ii) Tranche Number: 1 3 Specified Currency: Euro ("€") 4 Aggregate Nominal Amount:
(i) Series: €155,000,000 (ii) Tranche: €155,000,000 5 Issue Price: 100 per cent. of the Aggregate Nominal
Amount
6 Specified Denomination: €100,000 7 (i) Issue Date: 8 July 2026 (ii) Interest Commencement Date: 8 July 2026 8 Maturity Date: 8 July 2041 9 Interest Basis: 3.664 per cent. per annum Fixed Rate (further particulars specified below ) 10 Redemption Basis: Subject to any purchase and cancellation or early redemption, the Obligations Foncières will be redeemed on the Maturity Date at 100 per cent. of their nominal amount.
11 Change of Interest Basis: Not applicable 12 Call Options: Not applicable 13
Date of the corporate authorisation for issuance of Obligations Foncières obtained: Decision of the Directoire of Caisse Française de Financement Local dated 15 December 2025 authorising the issue of Obligations Foncières and decision of the Directoire of Caisse Française de Financement Local dated 25 June 2026 authorising the quarterly
4 programme of borrowings for the third quarter of 2026 .
PROVISIONS RELATING TO INTEREST PAYABLE
14 Fixed Rate Obligation Foncière Provisions : Applicable (i) Rate of Interest: 3.664 per cent. per annum payable annually in arrear on each Interest Payment Date .
(ii) Interest Payment Dates: 8 July in each year commencing on 8 July 2027 to, and including, the Maturity Date, not
adjusted
(iii) Fixed Coupon Amount: €3,664 per Specified Denomination (iv) Broken Amount: Not applicable (v) Day Count Fraction (Condition 5(a)): Actual / Actual ICMA (vi) Determination Date s (Condition 5(a)): 8 July in each year (vii) Business Day Convention: Not applicable (viii) Business Centre: Not applicable 15 Floating Rate Obligation Foncière Provisions : Not applicable 16 Inflation Linked Obligation Foncière Provisions : Not applicable 17 Index Formula : Not applicable 18 Underlying Formula : Not applicable 19 CPI Formula : Not applicable 20 HICP Formula : Not applicable 21 Binary Formula : Not applicable
PROVISIONS RELATING TO REDEMPTION
22 Call Option : Not applicable 23 Final Redemption Amount of each Obligation
Foncière :
€100,000 per Obligation Fonc ière of €100,000
Specified Denomination
24 2
3 Inflation Linked Obligations Foncières – Provisions relating to the Final Redemption Amount:
Not applicable
25 Early Redemption Amount :
Early redemption for taxation reasons: Not applicable 26 Zero Coupon Obligation Foncière – Provisions relating to the Early Redemption
Amount :
Not applicable
27 Inflation Linked Obligations Foncières – Provisions relating to the Early Redemption Amount :
Not applicable
5
GENERAL PROVISIONS APPLICABLE TO THE OBLIGATIONS FONCIÈRES
28 Form of Obligations Foncières: Dematerialised Obligations Foncières (i) Form of Dematerialised Obligations
Foncières:
Bearer form ( au porteur ) (ii) Registration Agent: Not applicable (iii) Temporary Global Certificate: Not applicable (iv) Applicable TEFRA exemption: TEFRA not applicable 29 (i) Financial Centre (Condition 7(h)) or other special provisions relating to Payment Dates:
T2 (ii) Adjusted Payment Date (Condition 7(h)): As per Condition 7(h) 30 Talons for future Coupons to be attached to definitive Materialised Obligations Foncières (and dates on which such Talons mature):
Not applicable
31 2
8 Redenomination provisions: Not applicable
32 2
9 Consolidation provisions: Not applicable
33 3
0 Representation of holders of Obligations Foncières – Masse (Condition 10) : Name and address of the Representative:
MASSQUOTE S.A.S.U.
RCS 529 065 880 Nanterre 33, rue Anna Jacquin 92100 Boulogne Billancourt
France
Represented by its Chairman The Representative will receive a remuneration of €400 (V AT excluded) per year .
PURPOSE OF FINAL TERMS
These Final Terms comprise the final terms required for issue and admission to trading on the regulated market of the Luxembourg Stock Exchange of the Obligations Foncières described herein pursuant to the €75,000,000,000 Euro Mediu m Term Note Programme of Caisse Française de Financement Local.
6
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms. The rating explanation s set out in Paragraph 2 of Part B of these Final Terms have been extracted from the websites of Moody's (source:
https://ratings.moodys.io/ratings ) and DBRS (source: https://dbrs.morningstar.com/understa nding -ratings ). The Issuer confirms that such information ha s been accurately reproduced and that, so far as it is aware, is able to ascertain from information published by Moody's or DBRS, no facts have been omitted which would render the reproduced infor mation inaccurate or misleading .
Signed on behalf of the Issuer:
Duly represented by:
7
PART B – OTHER INFORMATION
1 ADMISSION TO TRADING
(i) Listing: The Luxembourg Stock Exchange (ii) Admission to trading: Application has been made by the Issuer (or on its behalf) for the Obligations Foncières to be admitted to trading on the regulated market of the Luxembourg Stock Exchange with effect from the Issue Date .
(iii) Regulated Markets or equivalent markets on which, to the knowledge of the Issuer, securities of the same class of the Obligations Foncières to be admitted to trading are already admitted to
trading:
Not applicable
(iv) Estimate of total expenses related to admission to
trading:
€9,550
2 RATINGS AND EURO EQUIV A LENT
Ratings: Applicable
The Obligations Foncières are expected to be rated :
Moody's : Aaa
DBRS : AAA
Each of Moody's and DBRS is established in the European Union and is registered under Regulation (EU) N o. 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit ratings agencies, as amended (the "CRA Regulation "). Each of Moody 's and DBRS is appearing on the list of credit rating agencies published by the European Security and Markets Authority on its website ( https://www.esma.europa.eu/credit -rating -
agencie s/cra -authorisation ).
According to Moody's rating system, obligations rated Aaa are judged to be of the highest quality subject to the lowest level of credit risk .
According to DBRS' rating system, obligations rated AAA are judged to be of the highest credit quality and the capacity for the payment of financial obligations is exceptionally high and unlikely to be adversely affected by future events .
Euro equivalent: Not applicable
3 SPECIFIC CONTROLLER
The specific controller ( contrôleur spécifique ) of the Issuer has delivered a certificate relating to the borrowing programme for the current quarter certifying that the value of the assets of the Issuer will be greater than the value of its liabilities benefiting from the Privilè ge with respect to such quarterly borrowing programme .
8
4 NOTIFICATION
The Autorité des marchés financiers in France has provided the Commission de surveillance du secteur financier in Luxembourg with a certificate of approval attesting that the Base Prospect us has been drawn up in accordance with the Prospectus Regulation .
5 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in section entitled "Subscription and Sale " of the Base Prospectus and save for any fees payable to the Manager in connection with the issue of the Obligations Foncières , so far as the Issuer is aware, no person involved in the issue of the Obligations Foncières has an interest material to the issue .
The Manager and its affiliates have engaged, and may in the future engage, in investment banking and/or commercial banking transactions with, and may perform other services for, the Issuer and its affiliates in the ordinary course of business.
6 USE OF PROCE EDS AND ESTIMATED NET PROCEEDS
(i) Use of proceeds : The Obligations Foncières constitute "Social Obligations Foncières " and the net proceeds will be used to finance and/or refinance, in whole or in part, Eligible Social Loans as defined in the Sfil Group Green, Social and Sustainability Bond Framework as published as of the Issue Date which is available on the website of the Issuer: https://sfil.fr/en/green -social -and-
sustainable -bonds/ .The Green, Social and Sustainability Second Party Opinion on the Sfil Group Green, Social and Sustainability Bond Framework is also available on the website of the Issuer : (https://sfil .fr/en/green -social -and-
sustainable -bonds/ .
(ii) Estimated net proceeds : €154,535,000
7 YIELD
Indication of yield: 3.664 per cent . per annum Calculated as per the ICMA method, which determines the effective interest rate of the Obligations Foncières taking into account accrued interest on a daily basis on the Issue Date.
The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.
8 DISTRIBUTION
(i) Method of distribution: Non-syndicated (ii) If syndicated: Not applicable (A) Names of Managers: Not applicable (B) Stabilisation Manager : Not applicable (iii) If non-syndicated, name of Manager: NATIXIS
9 (iv) US Selling Restrictions (Categories of potential investors to which the Obligations Foncières are offered):
Reg. S Compliance Category 1 applies to the Obligations Foncières ; TEFRA not applicable
9 OPERATIONAL INFORMATION
(i) ISIN: FR0014019P10
(ii) Common Code: 343527659 (iii) FISN Code: Caisse Français/3.664 MTN 20410708 , 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
(iv) CFI Code: DTFSFB , 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
(v) Depositaries:
(a) Euroclear France to act as Central
Depositary:
Yes (b) Common Depositary for Euroclear Bank SA/NV and Clearstream:
No (vi) Any clearing system other than Euroclear and Clearstream and the relevant
identification number:
Not applicable
(vii) Delivery: Delivery against payment (viii) Name and address of the Calculation
Agent:
Not applicable
(ix) Name and address of initial Paying Agent: Banque Internati onale à Luxembourg, société anonyme 69, route d'Esch
L-2953 Luxembourg
Grand -Duchy of Luxembourg (x) Names and addresses of additional Paying