Issuance of public debt by the Autonomous Community of the Canary Islands eligible for the RIC scheme.

Following on from our communication last September, we wish to inform you that the Official Gazette of the Canary Islands of Monday 28 October published the Order of 21 October 2024, which provides for the issue of public debt by the Autonomous Community of the Canary Islands suitable for funding the Canary Islands Investment Reserve in 2024, and setting out the characteristics thereof.

The amount to be issued is 150,000,000 euros and the public subscription period for the issue will run from 8.00 am on Monday 4 November until 2.00 pm on Friday 8 November. Subscription applications received after that date and time will not be accepted.

Below is a breakdown of the main terms and conditions of this issue:

Item Amount/Characteristic

Total Issue Size: €150,000,000

Nominal value per security: €1,000

Coupon (interest rate): 0.50% fixed nominal annual rate, paid annually. First payment 28/11/2025

Procedure for placing the securities on the market: Through the Participating Institutions

Public offering settlement date: 19/11/2024

Issue and disbursement date: 28/11/2024

Redemption date (maturity): 28/11/2029

Characteristics of the securities: Book-entry securities

Trading of the securities: AIAF Fixed Income Market

Participating institutions: Abanca, Arquia, Banca March, BBVA, Cajasiete, Banco Santander,

Bankinter, Banco Inversis (Cajamar), Caixabank, CBNK, Banco de Colectivos, Deutsche Bank

Issuing, management and debt payment agent: Bank of Spain

Coordinating entity: Analistas Financieros Internacionales, S.A.

Applications for amounts exceeding the minimum of 1,000 euros must be made in whole multiples of that figure. The maximum amount that a single subscriber may apply for shall not exceed 10,000,000 euros. The amount applied for shall be irrevocable.

If the total amount of applications exceeds, as is expected, €150,000,000, a pro rata allocation will be made, in which individual subscription applications will take precedence over those made under a joint ownership arrangement.

The minimum allocation will be €100,000, or the amount requested if lower, provided that the volume of the issue permits this; otherwise, pro rata allocation will apply, for which all individual applications made by the same applicant will be aggregated.

Finally, we would like to remind you that RIC allocations may be invested in Government Debt, subject to a limit of 50% of the allocation made in each financial year.