#1European Investment Bank Investor Relations Presentation 16 April 2024 European Investment Bank Page 1#2- Content What is the EIB about? EIB's financial strength EIB's funding programme | Annex: Additional information Public European Investment Bank 3 9 17 39 European Investment Bank Page 2#3Public What is the EIB about European Investment Bank European Investment Bank Page 3#4Public Policy importance: the bank of the European Union European Investment Bank European Investment Bank The EIB is the lending arm of the European Union since 1958 The world's largest multilateral lender We raise our funds on the international capital markets, based on the Bank's 'AAA/Stable' rating by S&P, Moody's and Fitch We pass on favourable borrowing conditions to clients Headquartered in Luxembourg Around 4,200 staff: Not only finance professionals, but also engineers, economists and socio- environmental experts 60 offices around the world Over EUR 1.5 trillion invested since 1958 | More than 14,000 projects in over 160 countries Crowding-in bank: EUR 4.9 trillion overall investment supported Leading provider of climate finance EU Owned and governed by the EU Member States European Investment Bank Page 4#5EIB's priorities for 2024 Public 2024 EIB Bank orientations* New signature volume for 2024 of EUR 73.5bn (+/-10% flexibility margin) European Investment Bank Sustainable Energy and Natural Resources (EUR 22.8bn) Sustainable Cities and Regions (EUR 18.6bn) Target for Climate Action and Environmental Sustainability: >50% of signatures Target for EU Economic and Social Cohesion and Convergence: 44% of signatures EIB - EU activity** EUR 65.0bn EIB Global EUR 8.5bn SME & MidCap Finance (EUR 14.8bn) Innovation, Digital and Human Capital (EUR 17.3bn) European Investment Bank 00 $00 Disbursement orientation for 2023: EUR 52.8-58.3bn Borrowing target for 2024 of EUR 60bn, authorization up to EUR 65bn *OP 2024-2026 target under EIB's own & third party resources ** within EU, EFTA and UK Page 5#6Public Project exposure and geographical distribution European Investment Bank Loan book of EUR 562bn (EUR 437bn disbursed) | Almost half the ultimate exposure to the private sector Type of borrower* Ultimate obligor* Diversified portfolio by sector and geography Geographical distribution of loan stock** ■Non-EU ■ Spain ■Italy 15% 2% 3% 3% 3% 16% 5% Outside EU with EU or Member States guarantee 10% Outside EU with EC or Member States collective guarantee 10% 6% 7% Sovereigns 11% Sovereigns 24% 8% 12% 8% Public Institutions 26% 12% Public Institutions 25% ■France ■Germany Poland ■ EU Other ■ EU Benelux ■EU Scandinavia ■Greece ■Austria ■Portugal Sectoral distribution of loan stock** ■ Hungary Transport ■Global loans 29% ■ Energy 1% 4%2% Corporates 30% 7% 7% Corporates 30% 8% Banks 23% 9% 18% Banks 11% 15% Health, education Miscellaneous infrastructure ■Industry Water, sewerage Services Audited data as of 31 December 2022 **Based on disbursed loans stock, including own resources loans and loan substitutes * Data based on loans and asset-backed securities European Investment Bank Page 6#7Corporate Use EU Climate Bank: turning ambition into reality European Investment Bank In 2023, the share of EIB investments (signatures) that went to climate action and environmental sustainability projects rose to EUR 44.3bn *, or 60% 23% 26% Climate action EUR 44.3bn 51% ■ Environmental sustainability ■Benefitting both Climate Acton and Environmental Sustainability * EIB signatures contributing to climate action and environmental sustainability (own and third- party resources). Figures are unaudited and provisional. The EIB Group Climate Bank Roadmap 2021-2025, launched in November 2020, outlines our bold ambitions for climate finance to back the European Green Deal and make Europe carbon-neutral. EIB Group Climate Bank Roadmap EIB goals for the critical decade 2021-2025 November 2000 Park Gross From the start of 2021, align all of EIB Group's new financing activities with the Paris Agreement. Moreover, EU Taxonomy is being integrated in the EIB activities. EIB stopped supporting new fossil fuel energy projects by end of 2021. More than 50% of EIB financing goes to climate action and environmental sustainability by 2025. EIB Group well under way to support EUR 1 trillion in investment for climate action and environmental sustainability by 2030. Page 7#8Public Solid shareholder support from the EU 27 Member States European Investment Bank Member States S&P Moody's Fitch Preferred Creditor Status (PCS) With respect to exposure to EU Sovereigns, the Bank enjoys preferred creditor status and the protection given by the Bank's Statute EIB shareholder structure by rating* (based on lowest rating) Germany Italy Spain France Belgium AA/Neg AAA/Sta BBB/Sta A/Sta AA/Sta Netherlands AAA/Sta Aa2/Sta AA-/Sta Aaa/Sta AAA/Sta Baa3/Sta BBB/Sta Baa1/Pos A-/Sta Aa3/Sta AA-/Neg 5.21% Aaa/Sta 4.2 Capital Paid-in Callable share capital capital 18.78% 42.6 18.78% 4.2 42.6 18.78% 4.2 42.6 11.27% 2.5 25.5 1.2 11.8 AAA/Sta 5.21% 1.2 11.8 Poland A-/Sta A2/Sta A-/Sta 4.57% 1.0 10.4 Sweden AAA/Sta Aaa/Sta AAA/Sta 3.45% 0.8 7.8 Denmark AAA/Sta Aaa/Sta AAA/Sta 2.64% 0.6 6.0 Austria AA+/Sta Aa1/Sta AA+/Sta 2.58% 0.6 5.9 Finland AA+/Sta Aa1/Sta AA+/Sta 1.48% 0.3 3.4 Greece BBB-/Sta Ba1/Sta BBB-/Sta 1.41% 0.3 3.2 Portugal A-/Pos A3/Sta A-/Sta 0.91% 0.2 2.1 Below AAA Investment 30% Grade 2% Czech Republic AA-/Sta Hungary Ireland Romania Croatia Slovakia AA Slovenia 30% Bulgaria Lithuania Luxembourg Other Investment Grade Cyprus Latvia A+/Neg Aa3/Sta BBB-/Sta Baa2/Sta AA/Sta Aa3/Sta AA-/Pos BBB-/Sta Baa3/Sta BBB-/Sta BBB+/Pos Baa2/Pos BBB+/Pos A+/Sta A2/Neg A-/Sta AA-/Sta A3/Sta A/Sta BBB/Pos Baa1/Sta BBB/Pos A+/Neg A2/Sta A/Sta AAA/Sta Aaa/Sta AAA/Sta BBB/Pos Baa2/Sta BBB/Pos A3/Sta AA-/Sta 0.89% 0.2 2.0 BBB/Neg 0.84% 0.2 1.9 0.66% 0.1 1.5 0.66% 0.1 1.5 0.43% 0.1 1.0 0.30% 0.1 0.7 0.28% 0.1 0.6 0.21% 0.05 0.5 0.18% 0.04 0.4 0.13% 0.03 0.3 0.13% 0.03 0.3 A-/Pos 0.11% 0.02 0.2 Estonia Malta AA-/Neg A-/Sta A1/Sta A+/Sta 0.08% 0.02 0.2 A2/Sta A+/Sta 0.05% 0.01 0.1 38% Total 100% 22.2 226.6 European Investment Bank *Source: S&P / Moody's / Fitch ratings as of 12 April 2024 Page 8#9Public EIB’s financial strength European Investment Bank European Investment Bank Page 9#10- Public EIB's operational and financial highlights Key figures (in EUR) European Investment Bank 2019 2020 2021 2022 H1 2023* Financial performance Net result 2.4bn 1.7bn 2.6bn 2.4bn 0.9bn Own funds 73.7bn 73.5bn 76.1bn 78.4bn 79.4bn Callable capital 221.6bn 226.6bn 226.6bn 226.6bn 226.6bn Common Equity Tier 1 (CET1) ratio 32.9% 33.1% 32.3% 35.1% 36.7% Leverage ratio** 627% 634% 632% 575% 577% Treasury assets 80.9bn 85.6bn 105.6bn 77.5bn 88.2bn Total Liquidity Ratio (TLR)*** 89% 78% 117% 95% 91% Liquidity Coverage Ratio (LCR) 483% 367% 565% 348% 298% Borrowing Total outstanding (excl. CP) 438bn 425bn 426bn 423bn 426bn Issuance during the year 50.3bn 70.0bn 55.3bn 44.3bn 35.4bn Green and Sustainability bonds issuance 4.1bn 10.5bn 11.5bn 19.9bn 14.0bn (% of total issuance in the period) (8%) (15%) (21%) (45%) (39%) Lending New lending (signed) 63.3bn 66.1bn 65.4bn 65.15bn 21.3bn Total lending outstanding (disbursed) 448bn 445bn 433bn 437bn 435bn Impaired loans (%) 0.37% 0.43% 0.34% 0.41% 0.46% *Unaudited data as of 30 June 2023 **Leverage ratio: gross debt/adjusted equity European Investment Bank ***TLR : treasury coverage of next 12 months projected net outflows Page 10#11Public EIB's financial strength: underpinned by very strong solvency, liquidity, asset quality and shareholders' support EIB's financial strength (€ Profitable since inception Stable annual earnings contribute to the growth of own funds. CET1 ratio of 36.7% (vs end-2022: 35.1%) Conservative liquidity management EUR 88.2bn of liquid assets, plus access to ECB's refinancing facility Strong shareholder support Reflected in EIB's key role towards Ukraine 213 support, pandemic outbreak, energy crisis, EU Climate Bank, as well as in the 2020 replacement of the UK's subscribed capital and asymmetrical Very high asset quality European Investment Bank Reflecting strong collateralization and extremely low delinquency 84.0%* of the EIB's risk portfolio is investment grade (best of borrower or guarantor internal ratings) 70.4%* of the portfolio benefits from credit enhancements** or recourse to European Commission or EU Member State guarantees*** 0.46% of impaired loans (EUR 2.0bn) EUR 85.4m in overdue payments over 90 days**** (EUR 77.7m in 2022) capital increase (Poland and Romania) * Unaudited data as of 30 June 2023, unless stated otherwise Audited data as of end 2022 ** *** Credit enhancements include guarantees from EU MS, EU budget, investment grade banks and corporates, financial collateral, and assignments of rights or pledges In which case, the Bank benefits from the preferred creditor status (PCS) and the protection granted by the EIB's Statute **** Includes Risk Portfolio and Mandate Portfolio European Investment Bank Page 11#12Public The EIB is the world's largest Multilateral Development Bank by total assets (EUR 551.8bn) European Investment Bank Own funds and callable capital account for EUR 306.0bn, 72% of the Bank's borrowings ASSETS (EUR 551.8bn) Other EUR 29.1bn Treasury EUR 88.2bn LIABILITIES AND OWN FUNDS Other EUR 46.2bn Own funds EUR 79.4bn Loans EUR 434.5bn Borrowings* EUR 426.2bn Callable capital EUR 226.6bn European Investment Bank Paid-in capital EUR 22.2bn Reserves & profit EUR 57.2bn Unaudited data as of 30 June 2023 *Excluding Commercial Paper Page 12#13Public Asset quality and performance remains very strong European Investment Bank Solid and stable solvency position and low levels of impaired loans (0.3% to 0.5%) Common Equity Tier 1 ratio (CET1) Stable lending volumes, with FY 2023 target of EUR 45-52.2bn Disbursements in the period** (EUR bn) 35.1% 36.7% 58 33.1% 32.9% 32.3% 48 58 45-52.2 41 Target 2023 21 2019 2020 2021 2022 H1 2023* 2019 2020 2021 2022 H1 2023* Impaired loans Stock of disbursed loans (EUR bn) 448 445 433 437 435 Impaired loans 1.6 1.9 1.8 2.0 1.5 (EUR bn) as % total disbursed loans о 0.37% 0.43% 0.34% 0.41% 0.46% о Dec-19 Dec-20 Dec-21 Dec-22 Jun-23* 2019 2020 2021 2022 H1 2023* *Unaudited data as of 30 June 2023 **Disbursements are based on own resources and third-party resources European Investment Bank Page 13#14Public Net surplus of EUR 0.9bn in H1 2023 reinforced EIB's solid solvency position; liquidity remains robust European Investment Bank Net surplus (EUR bn) 1.3 0.5 Liquidity position remains robust Liquidity Coverage Ratio (LCR) 1.5 1.1 0.9 483% 367% H1 2019 H1 2020 H1 2021 H1 2022 H1 2023* Main drivers of H1 2023 YoY change in net surplus 565% 348% 298% 2019 2020 2021 2022 H1 2023* + EUR 95.1m Net banking income Net results from equity and quasi-equity operations - EUR 106.5m Net operating expenses Treasury assets (EUR bn) 105.6 80.9 85.6 88.2 77.5 - EUR 27.1m Net provisions from loans and guarantees - EUR 140.8m YoY change in net surplus EUR 179.3m 2019 2020 2021 2022 H1 2023* European Investment Bank *Unaudited data as of 30 June 2023 Page 14#15- Public Conservative liquidity management - treasury assets of EUR 88.2bn at end H1 2023* European Investment Bank Objective: Treasury activities primarily aim to protect the Bank's capital while ensuring that payment obligations are met Highly liquid and conservative treasury: More than 90% invested in short-term assets (below one year) and around 90% invested in 'AAA-AA' assets Cyclicality: Liquidity levels tend to be cyclical, as funding activities are focused on the first half of the year while disbursements are concentrated in the second half H1 2023* Treasury assets of EUR 88.2bn provide 90.5% cover of projected net outflows for the next 12 months Liquidity ratios comfortably above 100% regulatory limit: Liquidity Coverage Ratio (LCR) of 298% and Net Stable Funding Ratio (NSFR) of 123%, as at H1 2023* Treasury Assets (EUR bn) 65.6 83.5 78.0 105.6 88.2 85.6 80.6 80.9 77.5 72.1 2014 2015 2016 2017 2018 2019 2020 2021 2022 H1 2023* European Investment Bank *Unaudited data as of 30 June 2023 Page 15#16Corporate Use EIB Commercial Paper (CP) programme overview Key figures as of 31/03/2024 Eur bn EUR bn 3.00 CP Issuance ytd per month Total issued ytd 5.3 2.50 Outstanding amount 22.2 2.00 Average daily outstanding amount 23.9 1.50 1.00 Weighted average maturity of outstanding (days) 121 0.50 Maximum maturity (remaining days) 360 0.00 EUR bn 35 30 25 20 3 8 2 82 15 10 5 Total CP Outstanding Jan Feb 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Page 16 Mar European Investment Bank#17- Public 40 EIB's funding programme European Investment Bank European Investment Bank Page 17#18Public Investor and currency diversification • ⚫ The EIB's funding policies target diversification in sources and tenors of funding. The Bank maintains a continuous presence in different funding markets and regularly gauges the capacity to raise capital • The strategy is supported by EIB's 'AAA' rating, while EIB's bonds are considered Level 1 HQLA (High Quality Liquid Assets) and 0% Risk Weighted, for LCR calculation under the Basel framework Bonds Outstanding: EUR 410bn* Other 18% European Investment Bank Distribution by investor type (all currencies) 23% 27% 32% 32% ■Central Bank/Gov't Institution 25% 20% Fund Managers 29% 30% 52% 53% 39% Banks 38% 2021 2022 2023 2024 YTD Distribution by investor region (all currencies) 2% 1% 3% 1% 14% 13% 16% 23% Middle East and Africa 20% 24% 15% 14% Americas Asia USD 64% EUR 62% 66% 62% 21% Europe 61% 2021 2022 2023 2024 YTD European Investment Bank As of 16 April 2024 * As of 31 December 2023, excl. Commercial Paper Page 18#19- Funding evolution & progress Public European Investment Bank • • . Funding target of EUR 60bn for 2024, with a borrowing authorization of up to EUR 65bn, allowing for upside flexibility The funding target is for all currencies combined; no currency-specific targets are set. We diversify issuance across currencies in order to maintain flexibility and to optimize the cost of funding. 2024 funding: EUR 36.2bn (60% of the announced borrowing target of EUR 60bn) Funding overview by type 2024 YTD issued amount (EUR m) of which in % CAB/SAB* EUR Benchmark 14,000 39% 6,000 USD Benchmark 16,676 46% 4,938 13% 2,730 620 2% 100 36,234 100% 8,830 Other (all currencies) Structured Total Gross issuance (EUR bn) 62 62 99 66 56 99 EUR USD Other Projected 60 70 55 50 559 50 44 44 50 36 36 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD European Investment Bank As of 16 April 2024 *CAB/SAB: Climate/Sustainability Awareness Bond Page 19#20Funding evolution & progress (2) Net & Gross issuance (EUR bn) (Gross issuance minus redemptions) Public Funding (EUR bn) European Investment Bank Net issuance ■ EUR ■ USD Other Gross issuance 62 66 70 56 60 55 60 26% 26% 19% 20% 22% 27% 21% 21% 16% 17% 14% 50 50 44 31% 37% 33% 32% 31% 34% 46% 34% 28% 34% 39% 40% 47% 44% 44% 45% 48% 47% 53% 49% 40% 35% -2 2 1 1 13 1 -11 -10 -6 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024* Weighted average maturity & Issuance by maturity bucket 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD Weighted average maturity of EUR & USD bonds 11.4 11.0 7.3 6.5 7.2 8.2 7.7 7.3 6.9 8.0 6.8 7.3 7.2 10.1 10.2 070 9.6 6% 5% 11% 14% 12% 11% 9% 8% 9.3 13% 8.9 8.6 8.5 12% 19% 22% 16% 11% 17% 34% 7.9 16% 20% 20% 27% 7.0 19% 17% 15% 18% 6.1 25% 13% 22% 4% 5.8 25% 17% 5.3 5.3 22% 5.1 5.1 5.2 4.8 4.5 26% 44% 38% 30% 31% 33% 26% 32% 34% 50% 41% 32% 17% 20% 21% 20% 24% 27% 18% 19% 11% 2014 2015 2016 2017 2018 2019 2020 2021 3% 2022 2023 2024 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD YTD ■ EUR USD <4y 4-6y6-9y 9-12y ■>12y WAM As of 16 April 2024 European Investment Bank *Borrowing target of EUR 60bn set for 2023 Page 20#21- Public 40 Core Funding EUR & USD European Investment Bank European Investment Bank Page 21#22Liquid benchmark curves Public European Investment Bank • • • EUR LCR/HQLA Level 1 asset - EIB is explicitly listed in Basel III Framework LCR30.41.3/CRE20.14.fn9 Risk weighting 0% - EIB is explicitly listed in Art. 117(2.j.) EU regulation 575/2013 Risk factor Stress 0% - EIB is explicitly listed in Art. 117 (2.j.) EU regulation 575/2013/Solvency II Art. 180 (2.c.) Market Risk Concentration 0% (Risk Factor g) - EIB is explicitly listed in Art. 117 (2.j.) EU regulation 575/2013 / Solvency II Art. 187 (3.c.) • PEPP Eligible • • • More than 1,900 investors have bought EUR-denominated EIB bonds in primary markets 2 way prices available on the major electronic trading platforms Benchmark bond transactions sized between 3-6bn occasionally tapped by EUR 1bn to increase liquidity 4-6 benchmark transactions per year across the curve on average 37 Dealers led or co-led EUR-denominated transactions since 2012 USD • • • • . . 0% Risk Weighting (12 CFR 249 on Liquidity Risk Measurement Standards. Subpart C - Issued by the FED) LCR/HQLA Level 1 liquid asset (12 CFR 247 on Liquidity Risk Measurement Standards. Subpart D- Issued by the FED) More than 1,400 investors have bought USD-denominated EIB bonds in primary markets 2 way prices available on the major electronic trading platforms Benchmark bond transactions sized between 3bn to 6bn 4/5 benchmark transactions per year across the curve on average 20 Dealers led USD-denominated transactions since 2012 • ECB repo - Eligible (IG6 issuer group / liquidity group 2) Secondary market turnover in EUR bonds In EUR bn EUR issuance EUR turnover 32.9 30.6 30.6 22.1 17.6 28.7 6.2 15.4 13.1 12.5 24.5 24.0 22.6 20.8 Secondary market turnover in USD bonds In USD bn 31.2 USD issuance USD turnover 30.1 22.2 18.4 26.0 24.2 17.8 25.3 21.7 20.2 10.1 13.0 13.7 14.0 10.0 10.0 11.2 11.0 6.7 8.0 3.8 0 8.0 3.0 4.00 4.0 4.0 0.0 6.6 4.9 1.4 4.9 5.1 2.2 5.4 0.0 Q1 Q2 2021 2021 Q3 Q4 Q1 2021 2021 2022 Q2 2022 Q3 Q4 2022 2022 2023 Q1 Q2 Q3 Q4 Q1 2023 2023 2023 2024* Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024* * Figures report on turnover activities as of Apr 2024 and may be adjusted upwards as additional dealers submit their data European Investment Bank Page 22#23TOTAL 20 24 Corporate Use EUR issuance: main source of funding and duration 30.00 Benchmark issuances EUR 14bn raised through 25.00 3 transactions Maturity range 2029-2039 20.00 15.00 Outstanding nominal amounts in EUR bn Outstanding EUR 245bn Maturities Up to 2061 Benchmark size Benchmark size issues of EUR 3-6bn Market driven re-openings of min EUR 1bn 0.00 10.00 5.00 2024 2025 2026 2027 2028 2029 2030 European Investment Bank 2031 2032 2033 2034 2035 2036 2037 2039 2040 2041 2042 2043 2045 2046 2047 2048 2050 2051 2052 2053 2054 2057 2060 2061 As of 16 April 2024 Page 23 European Investment Bank EUR Non Benchmarks ■EUR Benchmarks#242024 - EUR issuance* Public European Investment Bank Amount Pricing date Transactions Coupon Maturity date Tenor in EUR m Book size Re-offer level Bid/Cover (ms) Gvt spread 30 Jan 2024 New EARN 3,000 3.000% Feb-39 15y 45bn 15x +38 +64.2 9 Jan 2024 New CAB EARN 6,000 2.750% Jan-34 10y 42bn 7x +18 +62.7 27 Feb 2024 New EARN 5,000 2.750% Jul-29 5y 32bn 6x +5 +40.4 Total 14,000 Distribution by investor type (EUR bonds) Distribution by investor region (EUR bonds) 0% 1% 1% 1% 2% 4% 5% 6% Middle East & Africa 19% 20% 25% 18% 12% 12% 7% 33% I Central Banks/Official Americas Inst. 24% 23% 29% 27% 32% 30% Asia 38% 34% Fund Managers 15% 21% Other Europe 13% 13% France 53% 53% 23% 33% 27% 28% 33% 37% ■U.K. ■Banks 14% 15% 10% 10% Germany 2021 2022 2023 2024 YTD 2021 2022 2023 2024 YTD European Investment Bank As of 16 April 2024 *excluding structured Page 24#25Swap spread - yield yield bps Public EUR benchmark issuance: secondary market performance European Investment Bank 30.000 20.000 10.000 0.000 -10.000 -20.000 -30.000 -40.000 EIB EUR 5-, 7- and 10-yr Constant Maturity curve Jan-2020 Apr-2020 Jul-2020 EUR EIB CM 5Y Oct-2020 Jan-2021 Apr-2021 Jul-2021 Oct-2021 Jan-2022 EUR EIB CM 7Y European Investment Bank Apr-2022 Jul-2022 Oct-2022 Jan-2023 Apr-2023 автора Jul-2023 EUR EIB CM 10Y Oct-2023 Jan-2024 Apr-2024 Source Barclays Live Chart, as of 16 April 2024 Page 25#26TOTAL 2024 USD issuance: a leading non-U.S. borrower Benchmark issuances USD 18bn through 4 transactions Maturity range 2027-2034 Outstanding USD 114bn Maturities Up to 2058 Benchmark size Benchmark size issues of USD 3-6bn 15.00 Outstanding nominal amounts in USD bn 0.00 5.00 10.00 20.00 25.00 2024 2025 2026 2027 European Investment Bank 2028 2029 2030 2031 Public 2033 2034 2035 2036 2037 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 ㅎ 2047 2058 As of 16 April 2024 Page 26 European Investment Bank USD Non Benchmark USD Globals#272024 USD issuance* Public European Investment Bank Amount Re-offer Gvt Pricing date Transactions Coupon Maturity date Tenor Book size Bid/Cover in USD m level (ms) spread 4 Jan 2024 New Global 5,000 4.000% Feb-29 5y 28bn 5.6x +44 +14.8 6 Feb 2024 New Global 4,000 4.125% Feb-34 10y 20bn 5.0x +50 +14.5 5 Mar 2024 New Global 4,000 4.375% Mar-27 Зу 18bn 4.5x +26 +9.1 16 Apr 2024 New Global 5,000 4.750% Jun-29 5y 22bn 4.4x +36 +10.5 Total 18,000 Distribution by investor type (USD bonds) Distribution by investor region (USD bonds) 2% 2% 5% 2% ■Central Banks/Official ■Middle East and Africa 34% Inst. 36% 32% 40% 36% 47% 36% 43% Americas 19% 15% Fund Managers 19% 22% 34% 18% 14% 18% Asia 47% 49% Banks 41% 39% 40% 41% 37% 32% ■Europe 2021 2022 2023 2024 YTD 2021 2022 2023 2024 YTD European Investment Bank As of 16 April 2024 *excluding structured Page 27#28-20.000 Jan 2020 -10.000 Apr 2020 Jul 2020 Bps vs Mid ASW 0.000 Oct 2020 Jan 2021 10.000 Apr 2021 European Investment Bank Jul 2021 20.000 Oct 2021 Jan 2022 30.000 Apr 2022 40.000 Jul 2022 Oct 2022 Public USD benchmark issuance: secondary market performance European Investment Bank -3yr USD EIB Swap Spread - Yield Yield 5yr USD EIB Swap Spread - Yield Yield Source: Barclays Live Chart, as of 16 April 2024 Jan 2023 Apr 2023 Page 28 Jul 2023 Oct 2023 Jan 2024 3- and 5-yr EIB USD Curve Apr 2024#29- Public 40 Non-Core Currencies European Investment Bank European Investment Bank Page 29#30FORMAT 2024 Public Issuance in other currencies: volumes issued in 2022-2024 YTD European Investment Bank Issuance EUR m EIB issuance in non-core currencies (excl. EUR, USD) EUR 5.1bn 2,750 Currencies 2,500 8 (of which 1 in synthetic format) 2,250 2,000 1,750 1,500 Stand alone issues, EMTN, 1,250 AMTN, Synthetics 1,000 750 500 250 0 GBP AUD PLN* CAD NOK* SEK* MXN* ZAR* CNH CHF NZD BRL Others ■ 2022 ■ 2023 ■ 2024 YTD As of 16 April 2024 *Currencies approved for lending projects European Investment Bank Page 30#31Issuance in other currencies Issuance in 2024 YTD Public Distribution by investor type (currencies excl. EUR, USD) European Investment Bank Amount Issued Amount Issued CCY (CCY m) (EUR m) 18% 14% 16% 27% ■Central Bank/Official Instit. 18% GBP 2,250 2,619 28% 31% 33% AUD 1,750 1,057 Fund Managers PLN 4,050 931 66% 58% 51% 40% NOK 2,500 221 ■Banks INR* 9,000 100 2021 2022 2023 2024 YTD ZAR 1,250 61 MXN 700 38 Distribution by investor region (currencies excl. EUR, USD) EGP 1,000 20 3% 0% 1% 10 HKD 90 11 11% 6% Middle East and Africa 23% 20% Totals (EUR m) 5,059 25% 42% Americas Asia 70% 73% 61% 53% 2021 2022 European Investment Bank * 2023 2024 YTD Europe As of 16 April 2024 Synthetic format, booked under payment currencies Page 31#32- Public 40 New Products / Structures European Investment Bank European Investment Bank Page 32#33Public EIB's leadership in digital innovation: blockchain technology European Investment Bank Apr 2021 EIB's digital bond issuances testify to EIB's leadership in digital innovation, paving the way for market players to adopt blockchain technology for the issuance of financial securities Nov 2022 Jan 2023 Jun 2023 EIB issues its first ever digital bond on a public blockchain EUR 100m, 2-year zero coupon bond CBDC tokens (BdF) Settlement in T+1d EIB issues its second digital bond, and first on a private permissioned blockchain EUR 100m, 2-year fixed rate bond CBDC tokens (BdF & BCL) Settlement in T+0d EIB issues its first digital bond in pound sterling on a private permissioned blockchain with public blockchain mirroring GBP 50m, 2-year SONIA indexed bond Commercial bank tokens Settlement in T+2d EIB issues its first digital Climate Awareness Bond and Swedish Krona transaction on a public permissioned blockchain under the solbond model SEK 1bn, 2-year fixed rate bond Commercial bank tokens Settlement in T+0d European Investment Bank Page 33#34Public The EIB continues to innovate in Risk-Free Rates (RFR) European Investment Bank • • The EIB continues to play a key role as issuer of new RFR-linked bonds in various currencies: First ever GBP SONIA-linked benchmark issued in June 2018 Since then, the Bank issued GBP 7.25bn in SONIA-linked transactions SONIA-linked reference has become a role model in the market Launch of first ever SONIA Compounded Index linked GBP benchmark in August 2020 (GBP 1bn 5yr) SOFR bond (USD 1bn 3yr) in November 2018, extended the SSA USD SOFR curve First ever €STR-linked benchmark bond in October 2019 (EUR 1bn 3yr ), setting a sound standard in the €STR market Inaugural USD SOFR index-linked benchmark bond (USD 1.5bn 4yr), launched in March 2020, synchronized with the start of the index publication by the Fed Taking the leadership to harmonize market standards showcases EIB's ability to provide direction and support the further development of capital markets European Investment Bank Page 34#35- Public 40 Sustainability Funding European Investment Bank European Investment Bank Page 35#36- Public Share of CABS/SABS in EIB's funding programme CAB & SAB issuance (EUR bn) 20 18 16 Total CAB/SAB issued: EUR 93.54bn Total CAB/SAB outstanding: EUR 80.9bn Number of CAB/SAB currencies: 23 61 14 12 10 10 80 CO 45% 6.10 29% 1.46 21% 15% 2.85 European Investment Bank 24% 3.75 2.21 13.8 13.1 7% 6% 6% 8% 8% 8% 8.7 0.50 0.69 6.8 6.6 1% 2 0.6 1% 0.5 0% 2% 4.3 4.0 3.8 4.3 4.0 3.4 0.2 0.3 1.4 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD CAB issuance SAB issuance CAB & SAB share of total EIB funding As of 16 April 2024 No issuance in CAB and SAB format in 2008 and 2011 First EIB CAB/SAB bonds in benchmark format (SEC-registered Global and EARN) issued in 2022 European Investment Bank Page 36#37Public CAB & SAB Sustainability Objectives & Activities Climate Awareness Bonds Environmental Sustainability Awareness Bonds Environmental (other than climate change mitigation) Social European Investment Bank Objectives Activities • Climate Change Mitigation (2007) Eligible activities: • Renewable Energy (2007) Energy Efficiency (2007) • Electric rail infrastructure and rolling • stock, and electric buses (06/2020) Research, development and deployment of innovative low-carbon technologies (06/2020) ⚫ Further Taxonomy-eligible low carbon activities in transport manufacturing, waste, and energy sectors (2022) So far: • • Sustainable Use and Protection of Water and Marine Resources (2018) Pollution Prevention and Control (2018) Protection and Restoration of Biodiversity and Ecosystems (2021) Eligible activities: • Water Supply and Management (2018) • Wastewater Collection and Treatment (2018) ⚫ Sustainable Forest Management (2021) So far: • Access to Water and Sanitation (2018) Natural Disaster Risk Management (2018) Access to Equitable and Inclusive Quality Education (end 2019) Universal Access to Affordable Health Services (end 2019) Health Emergencies Response & Preparedness Capacity (2020) Access to Social and Affordable Housing (2021) Eligible activities: • Water Supply and Management (2018) • • Wastewater Collection and Treatment (2018) Flood Protection (2018) Education (2019), including higher education (2020) Health (2019), including Covid-related activities (2020) Housing (2021) European Investment Bank Page 37#38Contacts Public European Investment Bank 100, bd. Konrad Adenauer L-2950 Luxembourg www.eib.org EIB Pricing Bloomberg: EIB <GO> General enquiries on EIB bonds: [email protected] Scan the QR code for further information on EIB's Debt Products : European Investment Bank European Investment Bank Page 38#39- Public 40 Annex Additional information European Investment Bank European Investment Bank Page 39#40Public EIB's investments have a tangible, sizeable impact on the European economy Expected impact of new operations signed in 2023* 17.3 million European Investment Bank Population benefiting from improved infrastructure EUR 320bn EIB Group's (indicative) total investment supported in 2023 400 000 Number of SMEs/mid-caps supported 4.9 million Population with safer drinking water 5.4 million Number of jobs sustained in SMEs/mid-caps 1.9 million Population with improved sanitation 6.7 million MWh Annual energy savings 1.5 million Electricity generation capacity from 21 700 MW 12 million renewable energy sources Population facing reduced flooding risk Population facing reduced exposure to drought risk Electricity produced from renewable energy 46 600 GWh 2.6 million sources 42 988 km Power lines installed/upgraded 1.2 million Population with new waste collection systems New students benefitting from better educational facilities 13.8 million Households that can be powered 23 600 Rolling stock units purchased or rehabilitated 130.6 million Number of people benefiting from improved health services, including vaccines 254 million Additional passenger trips made public transport 11.6 million New subscribers with 5G services enabled 13 000 Alernative fuel stations *Figures are expected outcomes of financed new operations signed in 2023. Based on unaudited and provisional available data as of 31.12.2023. Figures are for the EIB only, unless otherwise specified. Page 40 European Investment Bank#41Public EIB's lending evolution is EU Policy driven - EIB lending signatures (1958-2023, EUR bn) 100 90 90 80 0 70 70 60 60 50 50 European Investment Bank 2013-2015: additional lending of EUR 60bn enabled by a EUR 10bn increase of paid-in capital OP** 2024: EUR 73.5bn (+/-10%) 30 30 20 20 Gradual enlargement of the EU and contributions from the EIB's annual profits have strengthened its capital base, prompting higher lending volumes 40 40 10 0 10 2023: EUR 75.1bn 2015: launch of EFSI* 2021: launch of InvestEU Page 41 * European Fund for Strategic Investments ** * Operational Plan projection 2024-2026 (1958) EU-6 (1973) EU-9 (1981) (1986) EU-10 EU-12 (1995) EU-15 (2004) (2007) EU-25 EU-27 (2013) EU-28 (2020) EU-27 European Investment Bank#42- Public EIB - a leading Supranational issuer 160 140 120 100 EUR bn 60 60 60 40 40 20 20 Peers funding in 2023-2024(e) (EUR bn) European Investment Bank 2023 ■ 2024 (e) EU* KfW EIB IBRD- World Bank** ADB IADB EFSF IFC** EBRD AfDB ESM NIB Page 42 Source: Investor Presentations/ Press releases/ CACIB/ Best efforts estimates, Jan-Feb 2024 *EU total issuance amount is a full year estimate - so far, EUR 75bn announced for H1 2024 ** Fiscal year from July 1st to June 30th European Investment Bank#43Public EUR issuance: ECB's QE programmes (PSPP and PEPP) European Investment Bank Eurosystem purchases of EIB Euro bonds In March 2015, under the Asset Purchase Programme (APP), the ECB established the Public Sector Purchase Programme (PSPP)*, focused on the net purchases of public sector securities - including Supranationals such as the EIB. Net asset purchases under the APP discontinued as of July 2022. Net asset purchases by programme under APP EUR bn 90 70 BORONGO22 22275 -20 -30 -40 -50 Following the COVID-19 outbreak, the ECB set: i) an additional APP envelope of EUR 120bn until end- 2020; and ii) a temporary Pandemic Emergency Purchase Programme (PEPP), foreseen to cover up to EUR 1,850bn of net purchases, which ended in March 2022 Cumulative net purchases by the Eurosystem of debt issued by Supranationals: EUR 421.2bn (EUR 262.0bn under PSPP and EUR 159.2bn under PEPP)** Considering that the EIB represents around 32% of the outstanding eligible supranational debt, the Eurosystem may have bought around EUR 134.8bn of the EIB eligible debt 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 PSPP CBPP3 CSPP ABSPP Average monthly APP target * ** Between January and October 2019, the ECB stopped its net purchases under PSPP and reinvested solely the principal payments from maturing securities held in the PSPP portfolio. As of Jan 2024. Cumulative net purchases represent the difference between the acquisition cost of all purchase operations and the redeemed nominal amounts European Investment Bank Page 43#44Corporate Use Credit rating agencies (CRAs): recent comments on the EIB European Investment Bank MOODY'S INVESTORS SERVICE ■ Aaa/Stable Rating reflects EIB's very strong credit profile, which has weathered recent crises without any signs of material negative impact EIB's balance sheet shows very strong asset quality and asset performance, and a very robust liquidity and funding position ■ EIB's policy relevance increased further since 2020, given instrumental role as implementing partner of major EU initiatives (COVID, energy crisis and support to Ukraine (Jul 2023) S&P Global Ratings ■ AAA/Stable ■ 'Stable' outlook reflects expectation that the EIB will maintain its extremely strong enterprise risk profile, underpinned by its role as the main EU policy bank ■ S&P expects the Bank's preferred creditor status, alongside its comprehensive use of risk mitigation frameworks, to ensure its overall asset quality remains excellent, despite the challenged European macroeconomic outlook (Dec 2023) European Investment Bank Fitch Ratings ■ AAA/Stable " Rating reflects the EIB's standalone credit profile of ‘aaa' based on its 'aa' solvency and 'aa+' liquidity assessments and an uplift of three notches to reflect the 'low risk' business environment ■ Solvency assessment driven by 'strong' capitalisation and 'very low' risk profile Rating would be resilient to a one-notch deterioration in any of Fitch's solvency, liquidity or business environment assessments, all other things being equal (Aug 2023) Page 44#45Public EIB bonds*: Repo-eligibility with Central Banks EU** European Central Bank (including 19 eurozone MS): Central Bank of Sweden: EUR, GBP, USD, JPY EUR, GBP, USD, DKK, NOK, SEK, JPY National Bank of Romania: EUR, USD, RON Central Bank of Hungary: HUF Czech National Bank: National Bank of Poland: CZK PLN Non-EU European Investment Bank Bank of England: Federal Reserve: Central Bank of Norway: EUR, GBP, USD EUR, GBP, USD, AUD, CAD, JPY, DKK, SEK, CHF EUR, GBP, USD, DKK, NOK, SEK, CHF, CAD, AUD, NZD, JPY EUR, GBP, USD, CHF, DKK, SEK, NOK + Swiss National Bank: Bank of Canada: CAD Reserve Bank of Australia: AUD N Reserve Bank of New Zealand: NZD * Monetary Authority of Singapore: SGD ** The list is not exhaustive. Not all bonds in a given currency are repo-eligible, as in general only plain vanilla bonds (sometimes also inflation-linkers) of certain size qualify for repo-eligibility. No eligibility with CB of Denmark, Bulgarian NB and CB of Lithuania Page 45 European Investment Bank#46Public European Investment Bank Disclaimer This presentation has been prepared by the European Investment Bank (the “Bank” or “EIB") for information purposes only and should not be taken as investment advice. Certain sections of this presentation contain forward-looking statements that are based on expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in such forward-looking statements. The Bank does not undertake any obligation to update or publicly release any revisions to this presentation to reflect events, circumstances or changes in expectations after the date of this presentation. The Bank specifically does not make any representation, warranty or assurance of any kind, expressed or implied, or assumes any liability regarding the accuracy, completeness and up-to-dateness of any of the information contained in this presentation. The Bank accepts no responsibility for any consequences of the use of the information provided in this presentation. This presentation constitutes neither an offer to sell nor an invitation to purchase securities, nor is it intended to serve as a basis for any kind of obligation, contractual or otherwise. Securities of the Bank may not be offered or sold in the United States nor to U.S. persons outside the United States unless the offering or sale is registered under US securities laws. Similar restrictions may apply in other countries. European Investment Bank Page 46#47European Investment Bank European Investment Bank Page 47