FR0014019LI4

FR0014019LI4 | Phynwire

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FINAL VERSION APPROVED BY THE ISSUER

FINAL TERMS FOR NOTES

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 DATE D AS OF 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 "Index Linked Securities" due 22 September 2038

ISIN Code: FR0014019LI4

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

BNP Paribas Financial Markets S.N.C.

(as Manager)

Any person making or intending to make an offer of Notes may only do so 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 Regulation, 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.

2 / 21

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 togeth er 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 and, any Supplement(s) to the Base Prospectus and these Final Terms are available for viewing at 1, Rue Laffitte, 75009, Paris, France and https://rates -

globalmarkets.bnpparibas.com/documents/legaldocs/resourceindex.htm .

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:

EI1014RAZ

1 4. Issue Date, Interest Commencement Date and Maturity Date:

(a) Issue Date:

7 July 2026 (b) Interest Commencement

Date:

The Issue Date.

22 September 2038

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

Issue Price:

(a) Aggregate Nominal Amount – Series:

EUR 30,000,000

(b) Aggregate Nominal Amount – Tranche:

EUR 30,000,000

100 per cent. of the Aggregate Nominal Amount of the applicable Tranche.

6. Type of Securities:

(a) Notes

(b) Redemption/Payment Basis:

Index Linked Redemption

Index Linked Interest

(d) The provisions of Annex 2 (Additional Terms and Conditions for Index Securities) shall apply.

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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):

Yes, as the Notes have more than 27 coupon payments, Talons may be required if, on exchange into definitive form, more than 27 coupon payments are still to be made.

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

3.12):

The applicable Additional Business Centre for the purposes of the definition of "Business Day" in Condition 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).

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:

Final Payout.

(b) Final Payout:

SPS Payouts:

SPS Reverse Convertible Securities

SPS Reverse Convertible Standard Securities:

Calculation Amount multiplied by:

(A) if no Knock -in Event has occurred:

100%; or

(B) if a Knock in Event has occurred, Min (100%, Final Redemption Value).

Strike Price Average Value: Applicable.

Where:

Final Redemption Value means the Underlying Reference Value.

SPS Redemption Valuation Date means the Valuation Date.

4 / 21 SPS Valuation Date means the SPS Redemption Valuation Date or the Strike Day, as applicable.

Strike Days has the meaning given in the below table:

t Strike Days t 1 23 June 2026 2 30 June 2026 3 7 July 2026 4 14 July 2026 5 21 July 2026 6 28 July 2026 7 4 August 2026 8 11 August 2026 9 18 August 2026 10 25 August 2026 11 1 September 2026 12 8 September 2026

Averaging Date Consequences: Applicable In the event that a Strike Day is a disrupted day Postponement (as defined in Condition 13) will apply.

Strike Period means the period from and including 23 June 2026 to and including 8 September 2026.

Underlying Reference has the meaning given to such term in item 25(a).

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

Underlying Reference Strike Price means, in respect of an Underlying Reference, the arithmetic average of the Underlying Reference Closing Price Values for such Underlying Reference for all the Strike Days in the Strike Period.

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 Underlying Reference Strike Price.

5 / 21 (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 Security Agent:

BNP Paribas Financial Markets S.N.C.

20. Registrar:

Not applicable.

21. Calculation Agent:

BNP Paribas Financial Markets S.N.C.

Address (for the purpose of the Noteholder Account Information Notice):

20 boulevard des Italiens 75009 Paris, France 22. Governing law:

French Law

23. Masse provisions (Condition 18):

Full Masse shall apply

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 E-mail: rmo@avocat -mcm.com

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 nomination of the Representative shall not be effective where there is only one Holder of the Securities. If the Securities are held by more than one Holder at any time prior to redemption, then the role of the Representative becomes effective from suc h time and remuneration of EUR 275 per year shall become payable.

PRODUCT SPECIFIC PROVISIONS FOR REDEMPTION

24. Hybrid Linked Redemption Notes:

Not applicable.

25. Index Linked Redemption Notes:

Applicable.

(a) Index/Basket of

Indices/Index

Sponsor(s):

Morningstar Transatlantic 60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR (the "Index" or "Underlying Reference" ).

The relevant Index Sponsor is .

Screen Page: Bloomberg Code: MTSCORE Index.

The Morningstar Transatlantic 60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR is a Multi -Exchange Index.

(b) Index Currency:

EUR

(c) Exchange(s):

The relevant Exchange is as set out in the Conditions.

(d) Related Exchange(s):

All Exchanges

6 / 21 (e) Exchange Business Day:

Single Index Basis

Exchange/ Related Exchange: Applicable (f) Scheduled Trading Day:

Single Index Basis

Exchange/ Related Exchange: Applicable

(g) Weighting:

Not applicable

(h) Settlement Price:

Official closing level (i) Specified Maximum Days

of Disruption:

Eight (8) Scheduled Trading Days.

(j) Valuation Time:

As per the Conditions (k) Redemption Valuation

Date:

8 September 2038 (l) Redemption on Occurrence of an Index

Adjustment Event:

Delayed Redemption on Occurrence of an Index Adjustment Event: Not

applicable

(m) Index Correction Period:

As per Conditions (n) Additional provisions applicable to Custom

Indices:

Not applicable

(o) Additional provisions applicable to Futures

Price Valuation:

Additional Disruption

Events:

(a) Additional Disruption Events: Applicable.

(b) The following Optional Additional Disruption Events apply to the

Securities:

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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:

Applicable.

"less than".

(a) SPS Knock -in Valuation:

Applicable.

Strike Price Average Value: Applicable.

Where:

Knock -in Value means the Underlying Reference Value.

SPS Valuation Date means the Knock -in Determination Day.

Strike Day has the meaning given at item 12(b).

Strike Period has the meaning given at item 12(b).

Underlying Reference has the meaning given to such term in item 25(a) above.

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

(b) Level:

Period:

Not applicable.

8 / 21 (g) Knock -in Determination

Day(s):

Redemption Valuation Date.

(h) Knock -in Period Ending

Date:

Not applicable.

(i) Knock -in Period Ending Date Day Convention:

Not applicable.

(j) Knock -in Valuation Time:

Valuation Time.

(k) Knock -in Observation

Price Source:

Not applicable.

(l) Disruption

Consequences:

Applicable.

41. Knock -out Event:

Not applicable.

ISSUER CALL OPTION, NOTEHOLDER PUT OPTION AND AUTOMATIC EARLY REDEMPTION

42. Issuer Call Option:

Not applicable.

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:

"greater than or equal to".

(b) Automatic Early

Redemption Payout:

SPS Automatic Early Redemption Payout:

NA x (AER Redemption Percentage + AER Exit Rate)

Where:

AER Exit Rate means, in respect of a SPS ER Valuation Date, the AER Rate.

AER Redemption Percentage means 100 per cent.

NA means the Calculation Amount.

Settlement Price Date means the Valuation Date.

SPS ER Valuation Date means the Settlement Price Date.

Valuation Date means the relevant Automatic Early Redemption Valuation Date.

Redemption Date(s):

Each date in the column headed " Automatic Early Redemption Date n" in the table in item 44(h) below.

(d) Automatic Early Redemption Level 1:

Each percentage in the column headed " Automatic Early Redemption Level n" in the table in item 44(h) below.

(e) Automatic Early

Redemption Percentage:

Not applicable.

(f) AER Rate:

0 per cent.

9 / 21 (g) AER Exit Rate:

1 8 September 2027 22 September

2027 100%

2 8 December 2027 22 December

2027 99%

3 8 March 2028 22 March 2028 98% 4 8 June 2028 22 June 2028 97% 5 8 September 2028 22 September

2028 96%

6 8 December 2028 22 December

2028 95%

7 8 March 2029 22 March 2029 94% 8 8 June 2029 22 June 2029 93% 9 10 September 2029 24 September

2029 92%

10 10 December 2029 24 December

2029 91%

11 8 March 2030 22 March 2030 90% 12 10 June 2030 24 June 2030 89% 13 9 September 2030 23 September

2030 88%

14 9 December 2030 23 December

2030 87%

15 10 March 2031 24 March 2031 86% 16 9 June 2031 23 June 2031 85% 17 8 September 2031 22 September

2031 84%

18 8 December 2031 22 December

2031 83%

19 8 March 2032 22 March 2032 82% 20 8 June 2032 22 June 2032 81% 21 8 September 2032 22 September

2032 80%

22 8 December 2032 22 December

2032 79%

23 8 March 2033 22 March 2033 78% 24 8 June 2033 22 June 2033 77% 25 8 September 2033 22 September

2033 76%

26 8 December 2033 22 December

2033 75%

27 8 March 2034 22 March 2034 75% 28 8 June 2034 22 June 2034 75% 29 8 September 2034 22 September

2034 75%

30 8 December 2034 22 December

2034 75%

31 8 March 2035 22 March 2035 75% 32 8 June 2035 22 June 2035 75% 33 10 September 2035 24 September

2035 75%

34 10 December 2035 24 December

2035 75%

35 10 March 2036 24 March 2036 75%

11 / 21 36 9 June 2036 23 June 2036 75% 37 8 September 2036 22 September

2036 75%

38 8 December 2036 22 December

2036 75%

39 9 March 2037 23 March 2037 75% 40 8 June 2037 22 June 2037 75% 41 8 September 2037 22 September

2037 75%

42 8 December 2037 22 December

2037 75%

43 8 March 2038 22 March 2038 75% 44 8 June 2038 22 June 2038 75%

(i) Automatic Early

Redemption Valuation

Time:

Not applicable.

(j) Observation Price

Source:

Index Sponsor as specified in item 25(a).

(k) Underlying Reference

Level 1:

Official close.

(l) Underlying Reference

Level 2:

Not applicable.

(m) SPS AER Valuation:

Applicable:

SPS AER Value 1: Underlying Reference Value.

Strike Price Average Value: Applicable.

Where:

Automatic Early Redemption Valuation Date means each date specified as an Automatic Early Redemption Valuation Date n in the table in item 44(h).

SPS Valuation Date means each Automatic Early Redemption Valuation Date.

Strike Days has the meaning given at item 12(b).

Strike Period has the meaning given at item 12(b).

Underlying Reference has the meaning given to such term in item 25(a).

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

(n) AER Event 1

Underlying(s):

As set out in item 25(a) above.

12 / 21 (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):

(a) Strike Days:

As set out in item 12(b).

Strike Price: Not applicable.

(b) Averaging:

Averaging does not apply to the Securities.

Not applicable.

(d) Observation Period:

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.

Rate(s) of Interest

and Interest

Amount(s) (if not the

Calculation Agent):

Not applicable.

(vii) Margin(s):

Not applicable.

(viii) Minimum Interest

Not applicable.

(xiii) Rate of Interest:

Linked Interest.

(xiv) Coupon rate:

Applicable.

14 / 21 Snowball Digital Coupon applicable (where Single Snowball Digital Coupon Condition 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:

Interest Valuation Date(s) i means the relevant date as set out in item 47(b)(iii).

Rate (i) means 2.375 per cent.

Settlement Price Date means the relevant Valuation Date.

Snowball Barrier Value means the Underlying Reference Value.

Snowball Date means each date on which the relevant Snowball Digital Coupon Condition is satisfied.

Snowball Digital Coupon Condition means that the Snowball Barrier Value for the relevant SPS Valuation Date is equal or greater than the Snowball Level.

Snowball Level means 75 per cent.

SPS Coupon Valuation Date means the relevant Settlement Price Date.

SPS Valuation Date means the relevant SPS Coupon Valuation Date.

Strike Period has the meaning given at the item 12(b).

Strike Day has the meaning given at item 12(b).

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 has the meaning given to such term in item 47(b)(i).

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

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

15 / 21 Valuation Date (ii) divided by the relevant Underlying Reference Strike Price.

Valuation Date means the relevant Interest Valuation Date i.

(b) Fixed 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:

Applicable.

(i) Index/Basket of

Indices/Index

Sponsor(s):

Morningstar Transatlantic 60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR (the "Index" or "Underlying Reference" ).

The relevant Index Sponsor is Morningstar .

Screen Page: Bloomberg Code: MTSCORE Index.

The Morningstar Transatlantic 60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR is a Multi -Exchange Index.

(ii) Valuation Time:

As per the Conditions (iii) Interest Valuation

Date(s):

Each of the dates set out in the column headed "Interest Valuation Date i" in the table set out in item 46(a)(iv).

(iv) Index Correction

Period:

As per Conditions (v) Specified Maximum Days of Disruption:

Eight (8) Scheduled Trading Days.

(vi) Exchange(s):

The relevant Exchange is as set out in the Conditions.

(vii) Related

Exchange(s):

All Exchanges

(viii) Exchange Business

Day:

Single Index Basis

Exchange/ Related Exchange: Applicable (ix) Scheduled Trading

Day:

Single Index Basis

Exchange/ Related Exchange: Applicable (x) Settlement Price:

Official closing level

(xi) Weighting:

Not applicable

(xii) Redemption on Occurrence of an

Index Adjustment

Event:

Delayed Redemption on Occurrence of an Index Adjustment Event: Not

applicable

(xiii) Additional

provisions

applicable to

Custom Indices:

Not applicable

16 / 21

(xiv) Additional

provisions

applicable to

Futures Price

Valuation:

Not applicable

Linked Interest

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.

50. Non-exempt Offer:

Not applicable.

51. Prohibition of Sales:

Not applicable.

(i) Prohibition of Sales to EEA Retail Investors:

Not applicable.

The Issuer accepts responsibility for the information contained in these Final Terms. To the best of the knowledge of the Iss uer (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.

18 / 21

PART B - OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING

Application has been 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.

Estimate of total expenses related to admission to trading: EUR 5,650.00.

2. RATINGS

Ratings:

The Notes have not been rated.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE 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.

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 30,000,000.00

(iii) Estimated total expenses:

See item 1 of this Part B above.

5. PERFORMANCE OF INDEX AND OTHER INFORMATION CONCERNING THE UNDERLYING REFERENCE OR

REFERENCE RATE

(i). Index source:

Index Website Bloomberg

Screen Page

Morningstar Transatlantic

60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR www.morningstar.co

m MTSCORE

Index

(i). Index disclaimer:

Neither the Issuer nor the Guarantor shall have any liability for any act or failure to act by an Index Sponsor in connection with the calculation, adjustment or maintenance of an Index. Except as disclosed prior to the Issue Date, neither the Issuer, the Guarantor nor their affiliates has any affiliation with or control over an Index or Index Sponsor or any control over the computation, composition or dissemination of an Index. Although the Calculation Agent will obtain information concerning an Index from publicly available sources it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Issuer, the Guarantor, their affiliates or the Calculation Agent as to the accuracy, completeness and timeliness of information concerning an Index.

The issue of the Securities is not sponsored, endorsed, sold, or promoted by any index to which the return on the Securities is linked (an "Index", including any successor index) or any index sponsor of an Index to which the return on the Securities is lin ked (an "Index Sponsor") and no Index Sponsor makes any representation whatsoever, whether express or implied, either as to the results to be obtained from the use of an Index and/or the levels at which an Index stands at any particular time on any particu lar date or otherwise. No Index or Index Sponsor shall be liable (whether in negligence or otherwise) to any person for any error in an Index and an Index Sponsor is under no obligation to advise any person of any error therein. No Index Sponsor is making any representation whatsoever, whether express or implied, as to the advisability of purchasing or assuming any risk in connection with the Securities. Neither the Issuer nor the Guarantor shall have any liability for any act or failure to act by an Index Sponsor in connection with the calculation, adjustment or maintenance of an Index. Except as disclosed prior to the Issue Date,

19 / 21 neither the Issuer, the Guarantor nor their affiliates has any affiliation with or control over an Index or Index Sponsor or any control over the computation, composition or dissemination of an Index. Although the Calculation Agent will obtain information concerning an Index from publicly available sources it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Issue r, the Guarantor, their affiliates or the Calculation Agent as to the accuracy, completeness and timeliness of information concerning an Index.

(i). OPERATIONAL INFORMATION

(i) ISIN:

FR0014019LI4

(ii) Common Code:

342933700

(iii) Valoren:

157427161

(iv) CFI:

DEMVRM

(v) FISN:

BNPPIBV/VARI NT NKG 20380922 IDX

(vi) 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.

(vii) Delivery:

Delivery against payment.

(viii) Additional Paying Agent(s) (if

any):

Not applicable.

(ix) 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 recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.

(i). EU BENCHMARKS REGULATION

EU Benchmarks Regulation: Article 29(2) statement on benchmarks: Applicable: Amounts payable under the Securities are calculated by reference to the relevant Benchmark which is provided by the relevant Administrator, as specified in the table below.

As at the date of these Final Terms, the relevant Administrator is included, as the case may be, in the register of Administrators and Benchmarks (the “EU BMR Register ”) established and maintained by the European Securities and Markets Authority (“ ESMA ”) pursuant to article 36 of the Benchmarks Regulation (Regulation (EU) 2016/1011, as amended) (the “EU Benchmarks Regulation ”), as specified in the table below.

As far as the Issuer is aware, the transitional provisions in the EU Benchmarks Regulation apply, such that the relevant Administrator is not currently required to obtain authorisation/registration, provided that it has submitted an application for authori sation, registration, recognition or endorsement (as applicable) and unless and until such application has failed or been refused, as specified in the table below.

20 / 21 Benchmark Administrator Register

Morningstar Transatlantic

60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR www.morningstar.com Included

21 / 21

ANNEX - ISSUE SPECIFIC SUMMARY

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 solely on the basis of this summary, includi ng any translation hereof, but only if it is misleading, inaccurate or inconsistent when read together with the other parts 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 information in order to aid investor s when considering whether to invest in the Securi ties.

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

EUR "PG Phoenix Mémoire Transatlantique Dégressif Septembre 2026" Notes linked to Morningstar Transatlantic 60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR Index - The securities are Notes. International Securities Identification Number (" ISIN"): FR0014019LI4.

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/Matthew Ya ndle.

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

Income statement

Year Year -1 In € 31/12/2025 31/12/2024 Operating profit/loss 224,204 167,327

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Balance sheet

Year Year -1 In € 31/12/2025 31/12/2024 Net financial debt (long term debt plus short term debt minus cash) 164,334,371,318 124,241,216,005 Current ratio (current assets/current liabilities) 1 1 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

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 issue d. The Securities will be redeemed on 22 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.

The objective of this product is to provide you with a return based on the performance of an underlying index. The product ma y also pay Coupon under predefined conditions in accordance with the Coupon provisions below.

Unless the product has been redeemed early, the following provisions would apply.

On the Redemption Date you will receive in respect of each note, in addition to any final payment of a Coupon:

1. If a Barrier Event has not occurred: a payment in cash equal to the Notional Amount.

2. If a Barrier Event has occurred: a payment in cash equal to the Notional Amount decreased by the Performance of the Underl ying. In this case you will suffer a partial or total loss of the Notional Amount.

Coupon: A conditional Coupon is due for payment at the relevant Conditional Coupon Rate each time the following condition (Coupon Con dition) is met: if, on a Coupon Valuation Date, the closing price of the Underlying is greater than or equal to the relevant Condi tional Coupon Barrier. Otherwise, the Coupon is missed but not lost definitely. All missed Coupons will accumulate and become payable only if the Coupon Condition is subsequently satisfied.

Automatic Early Redemption: If, on any Autocall Valuation Date, the closing price of the Underlying is greater than or equal to the relevant Autocall Bar rier, the product will be redeemed on the corresponding Early Redemption Date. You will receive for each note a payment in cash eq ual to the Notional Amount

Where:

A Barrier Event shall be deemed to occur if the Final Reference Price is below the Barrier.

The Performance of an Underlying is the difference between its Final Reference Price and its Initial Reference Price, divided by its Initial Reference Price, expressed in absolute value.

The Initial Reference Price is the arithmetic average of the closing prices of the Underlying on the Initial Averaging Dates.

The Final Reference Price is the closing price of the Underlying on the Redemption Valuation Date.

Issue Price 100% Issue Date 07 July 2026 Product Currency EUR Redemption Valuation Date 08 September 2038 Notional Amount (per note) EUR 1,000 Redemption Date (maturity) 22 September 2038

Coupon Valuation Date(s) See Annex Coupon Payment Date(s) See Annex Conditional Coupon Barrier(s) See Annex Conditional Coupon Rate(s) See Annex

Barrier 50% of the Initial Reference Price Autocall Valuation Date(s) See Annex Early Redemption Date(s) See Annex Autocall Barrier(s) See Annex Initial Averaging Date(s) 23 June 2026, 30 June 2026, 07 July 2026, 14 July 2026, 21 July 2026, 28 July 2026, 04 August 2026, 11 August 2026, 18 August 2026, 25 August 2026, 01 September 2026 and 08 September 2026

Underlying Bloomberg Code Morningstar Transatlantic 60/40 Multi -Sector Select 20 Decrement 50 Point GR EUR MTSCORE

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ANNEX

Coupon

Coupon Valuation Date(s) Coupon Payment Date(s) Conditional Coupon Barrier(s) Conditional Coupon Rate(s) 08 December 2026 22 December 2026 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2027 22 March 2027 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2027 22 June 2027 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2027 22 September 2027 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2027 22 December 2027 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2028 22 March 2028 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2028 22 June 2028 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2028 22 September 2028 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2028 22 December 2028 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2029 22 March 2029 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2029 22 June 2029 75% of the Initial Reference Price 2.3750% of the Notional Amount 10 September 2029 24 September 2029 75% of the Initial Reference Price 2.3750% of the Notional Amount 10 December 2029 24 December 2029 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2030 22 March 2030 75% of the Initial Reference Price 2.3750% of the Notional Amount 10 June 2030 24 June 2030 75% of the Initial Reference Price 2.3750% of the Notional Amount 09 September 2030 23 September 2030 75% of the Initial Reference Price 2.3750% of the Notional Amount 09 December 2030 23 December 2030 75% of the Initial Reference Price 2.3750% of the Notional Amount 10 March 2031 24 March 2031 75% of the Initial Reference Price 2.3750% of the Notional Amount 09 June 2031 23 June 2031 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2031 22 September 2031 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2031 22 December 2031 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2032 22 March 2032 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2032 22 June 2032 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2032 22 September 2032 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2032 22 December 2032 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2033 22 March 2033 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2033 22 June 2033 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2033 22 September 2033 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2033 22 December 2033 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2034 22 March 2034 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2034 22 June 2034 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2034 22 September 2034 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2034 22 December 2034 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2035 22 March 2035 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2035 22 June 2035 75% of the Initial Reference Price 2.3750% of the Notional Amount 10 September 2035 24 September 2035 75% of the Initial Reference Price 2.3750% of the Notional Amount 10 December 2035 24 December 2035 75% of the Initial Reference Price 2.3750% of the Notional Amount 10 March 2036 24 March 2036 75% of the Initial Reference Price 2.3750% of the Notional Amount 09 June 2036 23 June 2036 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2036 22 September 2036 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2036 22 December 2036 75% of the Initial Reference Price 2.3750% of the Notional Amount 09 March 2037 23 March 2037 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2037 22 June 2037 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2037 22 September 2037 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 December 2037 22 December 2037 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 March 2038 22 March 2038 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 June 2038 22 June 2038 75% of the Initial Reference Price 2.3750% of the Notional Amount 08 September 2038 22 September 2038 75% of the Initial Reference Price 2.3750% of the Notional Amount Automatic Early Redemption

4 / 7 Autocall Valuation Date(s) Early Redemption Date(s) Autocall Barrier(s) 08 September 2027 22 September 2027 100% of the Initial Reference Price 08 December 2027 22 December 2027 99% of the Initial Reference Price 08 March 2028 22 March 2028 98% of the Initial Reference Price 08 June 2028 22 June 2028 97% of the Initial Reference Price 08 September 2028 22 September 2028 96% of the Initial Reference Price 08 December 2028 22 December 2028 95% of the Initial Reference Price 08 March 2029 22 March 2029 94% of the Initial Reference Price 08 June 2029 22 June 2029 93% of the Initial Reference Price 10 September 2029 24 September 2029 92% of the Initial Reference Price 10 December 2029 24 December 2029 91% of the Initial Reference Price 08 March 2030 22 March 2030 90% of the Initial Reference Price 10 June 2030 24 June 2030 89% of the Initial Reference Price 09 September 2030 23 September 2030 88% of the Initial Reference Price 09 December 2030 23 December 2030 87% of the Initial Reference Price 10 March 2031 24 March 2031 86% of the Initial Reference Price 09 June 2031 23 June 2031 85% of the Initial Reference Price 08 September 2031 22 September 2031 84% of the Initial Reference Price 08 December 2031 22 December 2031 83% of the Initial Reference Price 08 March 2032 22 March 2032 82% of the Initial Reference Price 08 June 2032 22 June 2032 81% of the Initial Reference Price 08 September 2032 22 September 2032 80% of the Initial Reference Price 08 December 2032 22 December 2032 79% of the Initial Reference Price 08 March 2033 22 March 2033 78% of the Initial Reference Price 08 June 2033 22 June 2033 77% of the Initial Reference Price 08 September 2033 22 September 2033 76% of the Initial Reference Price 08 December 2033 22 December 2033 75% of the Initial Reference Price 08 March 2034 22 March 2034 75% of the Initial Reference Price 08 June 2034 22 June 2034 75% of the Initial Reference Price 08 September 2034 22 September 2034 75% of the Initial Reference Price 08 December 2034 22 December 2034 75% of the Initial Reference Price 08 March 2035 22 March 2035 75% of the Initial Reference Price 08 June 2035 22 June 2035 75% of the Initial Reference Price 10 September 2035 24 September 2035 75% of the Initial Reference Price 10 December 2035 24 December 2035 75% of the Initial Reference Price 10 March 2036 24 March 2036 75% of the Initial Reference Price 09 June 2036 23 June 2036 75% of the Initial Reference Price 08 September 2036 22 September 2036 75% of the Initial Reference Price 08 December 2036 22 December 2036 75% of the Initial Reference Price 09 March 2037 23 March 2037 75% of the Initial Reference Price 08 June 2037 22 June 2037 75% of the Initial Reference Price 08 September 2037 22 September 2037 75% of the Initial Reference Price 08 December 2037 22 December 2037 75% of the Initial Reference Price 08 March 2038 22 March 2038 75% of the Initial Reference Price 08 June 2038 22 June 2038 75% of the Initial Reference Price

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 ge neral meeting of the Holders (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 Luxembourg Stoc k Exchange (Regulated Market).

Is there a guarantee attached to the securities?

Nature and scope of the guarantee

5 / 7 The obligations under the guarantee 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 unsecured obligations 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 modification or reduction applied to liabilities of 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 Securities on the date specified for such payment or performance the 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 procure the performan ce of the relevant obligation on the due date for such pe rformance.

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 21 May 2026 (the "Guarantee").

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. Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83.

BNPP's long -term credit ratings are A+ with a stable outlook (S&P Global Ratings Europe Limited), A1 with a stable outlook (Moody's Deuts chland GmbH) and AA - with a stable outlook (Fitch Ratings Ireland Limited) (which is the long -term rating assigned to BNPP’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 SA is the parent company of the BNP Paribas Group (together the " BNPP Group ").

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

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

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 (CPBL).

- 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, Lyf) 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 industrial 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 « Financ ial 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 euros) 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%

Total Capital Ratio 17% 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, including on -balance sheet and off -balance sheet and including debt securities measured at amortised costs or at fair value through shareholders' equity reported (exc luding 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 (exclud ing insurance) and including the effects of IFRS 5 standard application in relation to Non current assets held for sale.

Most material risk factors pertaining to the guarantor

6 / 7 1. A substantial increase in new provisions or a shortfall in the level of previously recorded provisions exposed to credit risk 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 unanticipate d 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 vo latility 4. The BNP Paribas Group’s access to and cost of funding could be adversely affected by a resurgence of financial crises, worsen ing 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 the BNP Paribas Group a nd the markets in which it operates 6. Laws and regulations in force, as well as current and future legislative and regulatory developments, may significantly impac t the BNP Paribas Group and the financial and economic environment in which it operates.

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 return on the Securities depends on the performance of the Underlying Reference(s) and whether knock -in or knock out features apply. Auto -callable Products include automatic early redemption mechanisms. Depending on the applicable formula, if an automa tic early redemption event occurs investors may be exposed to a partial loss of their investment. Investors may be exposed to a partial or total loss of their investment.

2. Risks related to the underlying and its disruption and adjustments:

Index Securities are linked to the performance of an underlying index (an "Index"), which may reference various asset classes such as, equities, bonds, currency exchange rates or property price data, or could reference a mixture of asset classes. Investors in Index Securities face the risk of a broader set of circumstances that mean that the assets underlying the Index do not perform as expected compared to an investment in conventional debt securitie s. Accordingly, the return on an investment in Index Secu rities is more likely to be adversely affected than an investment in conventional debt securities.

Exposure to indices, adjustment events and market disruption or failure to open of an exchange may have an adverse effect on the value and liquidity of the Securities.

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 relevant price, value or level of the Underlying Reference(s), the time remaining until the scheduled redemption date of the Securities, the actua l or implied volatility associated with the Underlying Reference(s) and the correlation risk of the relevant Underlying Reference(s). The possibility that the value and trading price of the Securities will fluctua te (either positively or negatively) depend s on a number of factors, 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

Application will be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the Luxembourg Stoc k Exchange (Regulated Market).

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”), Parnassusweg 789, 1082 LZ Amsterdam, the N etherlands (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 by the Offeror

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

The 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 respective affiliates in the o rdinary course 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 conflicts of inter est.

BNP Paribas Financial Markets SNC, which acts as Manager and Calculation Agent is an Affiliate of the Issuer and the Guaranto r and potential conflicts of interest may exist between it and holders of the Securities, including with respect to certain determi nations and judgments that the Calculation Agent must make. The economic interests of the Issuer and of BNP Paribas Financial Markets SNC as Manager and Calculation Agent are potentially adverse to Holders interests as an investor in the Securities.

7 / 7 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.