MBH Jelzálogbank Nyilvánosan Muködo Reszvenytársaság : Final terms of the first tap of MZJ29NF1 MBH MB Green Covered Bond

MBH Mortgage Bank Co. Plc.' Public Offering of the 1. tap of the MZJ29NF1 green mortgage bond series to be

issued under the Issuer's 2023-2024 Covered Bond and Senior Unsecured Bond Issuance Programme

Pursuant to the regulation of Board of Directors No. 4/5/2022. (23 December 2022) of the MBH Mortgage Bank Co. Plc's (registration number: 01-10-043638, date of registration: 18 March 1998, head office: 1117 Budapest Magyar Tudósok körútja 9. G. épület, LEI-code: 5299007F4BUUY6S14E44) (hereafter: "Issuer", or "Bank") and after the resolution No. 2/2023. (01.10.), (10. January 2023) of the Board of Directors of MKB, No. 1/2023.(I.17.) (2023.01.17.) of Board of Directors, and No. 1/2023.(I.17.) (2023.01.17.) and No. 1/2023 (I.26), (26. January 2023) of the General Assembly of MBH, and No. 3/2023. (01.10.), (10. January 2023) of the Board of Directors of the MTB Magyar Takarékszövetkezeti Bank Zrt. furthermore the Approval Announcement on 17 January 2023 of the Integration Organization the Issuer launched the HUF 100 billion 2023-2024 Issue Program, under the validity of which, the Issuer will issue, through public offering, different registered type covered mortgage bond and senior unsecured bond series and taps, listed or non-listed on the regulated market operated by the Budapest Stock Exchange (BSE). The Issuer publishes its Base Prospectus on the website of its own and of the BSE the hard copies are available at the selling places.

The number and date of the license granted by the Magyar Nemzeti Bank (MNB) to the Base Prospectus of the Issue Program: H-KE-III-122/2023, 13 March 2023.

Pursuant to the Issue Program referred above the Issuer publicly offers to issue on 11 March 2024 the first tap of MBH Mortgage Covered Bond series MZJ29NF1 and MBH Mortgage Bank will initiate to introduce the series into the BSE. The basis of the issue: the resolutions No 2/2/2024 (16.02.)-MBHJ-EFB (16 February 2024) and 3/1/2024 (29.02)-MBHJ-EFB (29 February 2024) of the Assets/Liabilities Committee.

The decision H-KE-III-533/2022 (12 September 2022) of MNB authorized the Issuer to use the "European Premium Covered Bond" Logo for its mortgage bonds to be issued in the future. This means that the issuer fully complies with the requirements of the European covered bond regulation i.e. the Directive (EU) 2019/2162 of the European Parliament and of the Council and the procedures and practices it uses also ensure that the mortgage bonds it issues meet the enhanced requirements that determine the prudential requirements of European credit institutions. As a result, the issuance of the present covered bond series will also be placed in the premium category.

This document is the Final Terms of the covered mortgage bond series detailed below. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions of the covered mortgage bonds set forth in the Base Prospectus dated 17 March 2022 (Base Prospectus). This document had been prepared in line with the application of the Regulation (EU) 2017/1129 of the European Parliament and the Council (Prospectus Directive) on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing the Directive 2003/71/EC and in order to get all the relevant information it must be interpreted in conjunction with the Base Prospectus and its Supplements. This Final Terms must be read together with the Base Prospectus. Pursuant to the Article 21 of the Prospectus Directive the Base Prospectus and its Supplements are available on the websites of the Issuer (https://www.mbhmortgagebank.hu/) of the Budapest Stock Exchange (http://www.bet.hu), and the MNB (http://kozzetetelek.mnb.hu/).

1.	Issuer:		MBH Mortgage Bank Co. Plc.
			(MBH Jelzálogbank Nyilvánosan Működő
			Részvénytársaság) 1117 Budapest Magyar Tudósok
			körútja 9. G. épület
2.	(a)	Series Number:	4 (Under Issue Program 2023-2024)
	(b)	Tranche Number:	1
3.	Offered volume:	HUF 6,000,000,000
			The Issuer reserves the right to deviate +/- 50% from the

volume offered or to declare the auction unsuccessful depending on the bids received. In case of an unsuccessful auction, the total amount of bids will be refused.

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4. Aggregate Nominal Amount:

	(a)	Series:	HUF 6,000,000,000
	(b)	Tranche:	min HUF 3,000,000,000
5.	Specified Currency or Currencies:	HUF
6.	Issue Price (per Mortgage Bond):	Not Applicable
7.	Specified Denominations:	HUF 10,000

8. Number of pieces

	(a) Series:	600,000 pieces
	(b) Tranche:	min 300,000 pieces
9.	(a)	Issue Date:	11.03.2024
	(b)	Interest Commencement Date:	13.03.2024
10.	Date of Settlement	13.03.2024
11.	Value Date:	13.03.2024
12	Maturity Date:	22.11.2029
13.	Tenor:		13.03.2024-22.11.2029
14.	Interest Basis:	Fixed interest rate
15 Redemption/Payment Basis:	Redemption at the Specified Denomination
16 Change of Interest Basis or Redemption/	Not Applicable
Payment Basis:
17.Put/Call Options:	Not Applicable

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

18.Fixed Rate Mortgage Bond Provisions

1. Rate(s) of Interest:
2. Interest Payment Date(s):
3. Fixed Coupon Amount per Mortgage Bond:
4. Broken Amount(s):
5. Day Count Fraction:
6. Business Day Convention:
7. Determination Date(s):
8. Party responsible for calculating amounts payable:
9. Compound interest:
10. Other terms relating to the method of calculating interest for Fixed Rate Mortgage Bonds:
11. Gross yield

19 Floating Rate Mortgage Bond Provisions

1. Zero Coupon Mortgage Bond Provisions
2. Index Linked Interest Mortgage Bond Provisions

Applicable

7.00 per cent. per annum payable annually in arrear

22 November in each year up to and including the Maturity Date. On 22 November 2024 HUF (short first coupon) 486 per Specified Denomination

HUF 700 per Specified Denomination

Not Applicable Actual/Actual (ICMA)

Following Business Day Convention

22 November in each year thereafter

Paying Agent MBH Investment Bank Zrt. (1117 Budapest Magyar Tudósok körútja 9. G. ép.)

0.0000 per cent on 13.03.2024 None

Not Applicable

Not Applicable

Not Applicable

Not Applicable

		PROVISIONS RELATING TO REDEMPTION
22.	Issuer Call:	Not Applicable
23.	Investor Put:	Not Applicable
24.	Final Redemption Amount:	HUF 10,000 per Specified Denomination
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25. Early Redemption Amount payable on Condition 5(d) is applicable redemption for taxation reasons or on

event of default and/or the method of calculating the same (if required or if different from that set out in Condition 5(d)):

GENERAL PROVISIONS APPLICABLE TO THE MORTGAGE BONDS

26. Representation of the Mortgage Covered

	Bonds Holders:	None
27.	Additional Financial Centre(s) or other special	Not Applicable
provisions relating to Payment Dates:
28.	Details relating to Partly Paid Mortgage Covered	Not Applicable
Bonds: amount of each payment comprising the Issue
Price and date on which each payment is to be made
and consequences of failure to pay, including any right
of the Issuer to forfeit the Mortgage Bonds and
interest due on late payment:
29. Change of denomination	Not Applicable
30.	Other final terms:	Not Applicable

DISTRIBUTION

31.If syndicated, names of

	Managers:	Concorde Értékpapír Zrt. 1123 Budapest, Alkotás u. 55-
		61.,
		ING Bank N.V.Magyarországi fióktelepe 1068
		Budapest, Dózsa György út 84/b.
		MBH Bank Nyrt. 1056 Budapest, Váci utca 38.,
		MBH Investment Bank 1117 Budapest Magyar Tudósok
		körútja 9. G. épület.
32.	Stabilising Manager (if any):	Not Applicable

33. Market Makers (best effort/binding)

		Concorde Értékpapír Zrt. 1123 Budapest, Alkotás u. 55-
		61., (best effort)
		ING Bank N.V.Magyarországi fióktelepe 1068
		Budapest, Dózsa György út 84/b.(best effort)
		MBH Bank Nyrt. 1056 Budapest, Váci utca 38., (best
		effort)
		MBH Investment Bank 1117 Budapest Magyar Tudósok
		körútja 9. G. épület. (binding)
34.	Methods of public issuance:	Auction
(i)	Date of auction/ Subscription:	11.03.2024 10:00 - 11:00 CET (competitive section:
		10:00-10:50;non-competitive section 10:50-11:00)

(ii) Place of auction/ Subscription:

Budapest Stock Exchange

(iii) Manager:

MBH Investment Bank 1117 Budapest Magyar Tudósok körútja 9. G. épület.

(iv) Upper limit:Not applicable

(v) Lower limit:

Not applicable. If the Mortgage Covered Bonds offered by the Issuer for sale are not purchased because no appropriate purchase price is received on the above mentioned accounts, the Issuer might decide not to issue any bonds. The mode of refunding will be discussed under the heading 'Refunding'.

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1. 1. Auction limit/ Subscription price:
   2. Auction bid / subscription lower and/or upper limit:
   3. Method and date of allocation:
   4. The ratio of the non competitive bids and total bids
   5. The ratio of the non competitive bids and the competitive bids by members of BSE sections:
   6. The maximum volume of the non competitive bids by members of BSE section:
   7. Date and place of the allocation:
2. Potential investors:
3. Additional selling restrictions:

Not applicable

Not applicable

Pursuant to the point (Allocation) of the section V.5.2 (Rules of the auctions) 5.2.1.6 Allocation sub-point of the Base Prospectus of the Issue Program 2023-2024, on 11.03.2024.

Not applicable

Not applicable

HUF 200,000,000

11.03.2024 12:30 CET at the websites indicated in the point Notes (48.)

Resident and non-resident natural persons and institutional investors, limited partnerships Not Applicable

PROCEDURE

1. Any clearing system(s) other than KELER and the relevant identification number(s):
2. Delivery:
   39. Effectuation:

1. Other paying Agent(s):
2. Isolated deposit accounts and fax numbers, and e-mail address of the Managers:

Not Applicable

DVP

Hungary

Not Applicable

Concorde Értékpapír Zrt. 14400018-12281248- 10060012 fax: [phone]e-mail:[e-mail] Bank N.V.Magyarországi fióktelepe 13700016-

00532547-00000000, fax: [phone], email: [e-mail]

MBH Bank Nyrt. 10300002-20191196-70383285, e- mail: [e-mail]

MBH Investment Bank 19017004-00201153e-mail:[e-mail]

MBH Mortgage Bank: 16801680-09014206

42. Disbursements, place of payments:

Pursuant to the point 4. (Disbursements) of the section V.4.1.4 (Terms and conditions of the covered mortgage bonds) of the Base Prospectus of the Issue Program 2023-2024.

43. ISIN code:	HU0000653688
44. Ticker code:	MZJ29NF1

	GENERAL INFORMATION
45. Use of Proceeds:	The Bank uses the proceeds for the sources for the
	refinancing activity.
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46. Market making:	MBH Investment Bank Zrt. is a binding market maker,
	the other Managers are entitled but not obliged to act
	as a market maker for one year from the first day of
	the listing
47. Notices, place of disclosure of information	The Public Offering, the Final Terms, the Base
	Prospectus, an all ordinary and extraordinary notices
	to Investors with respect to the Notes issued through
	a public issue shall be published on the website of the
	Issuer (https://www.mbhmortgagebank.hu/), of the
	NBH (www.kozzetetelek.mnb.hu)and of the BSE
	(www.bse.hu). Pursuant to the Decree of Ministry of
	Finance No. 24/2008 (VIII. 15) the Issuer publishes the
	regulated information at homepages of the media
	called Portfolio. The hard copies of the Base
	Prospectus are available at the selling points.
48. Notes:	The Public Offering, the Final Terms, the Base
	Prospectus, an all ordinary and extraordinary notices
	to Investors with respect to the Notes issued through
	a public issue shall be published on the website of the
	Issuer (https://www.mbhmortgagebank.hu/), of the
	NBH (www.kozzetetelek.mnb.hu)and of the BSE
	(www.bse.hu). Pursuant to the Decree of Ministry of
	Finance No. 24/2008 (VIII. 15) the Issuer publishes the
	regulated information at homepages of the media
	called Portfolio.
49. Governing law:	Hungarian law

OTHER CONDITIONS

50. Listing and admission to trading application:

1. Listing:
2. Listing Agent:

( c) Decision on listing:

51. Rating:

The Issuer will initiate the listing of the series on the

BSE

Not applicable

Resolutions 2/2/2024 (16.02.)-MBHJ-EFB (16.02.2024) and 3/1/2024 (29.02.)-MBHJ-EFB (29.02.2024) of the Issuer's Asset/Liability Committee (EFB)

The Covered Mortgage Bonds' rating: BBB (S&P) positive outlook.

The BBB is notches lower than AAA, which is the highest rating of S&P, but one notch higher than the lowest investment grade category (BBB-). The BBB rating means adequate security from investors' point of view, however, in an unfavourable economic environment and worsening conditions, the debtor's ability to meet his payment obligations is reduced. The "positive" outlook reflects the rating agency's assessment of the issuer's creditworthiness.

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52. Licence:

1. Interest of the legal and natural persons taking part in the issue
2. Cost of the issuance, and the cost bearer
3. Fees and Costs charged by the Issuer and the Lead Manager / managers and borne by the investors:

56 Estimated net proceeds from the issue

1. Other condition relating to the issuer's contribution under the second subparagraph of Article

1. (1) of the Prospectus Directive and Article 23 (a) of the Implementing Regulation of the Prospectus Directive:

The number and date of the license granted by the National Bank of Hungary (NBH) to publish the Base Prospectus of the Issue Program and the disclosure of the public issue: H-KE-III-122/2023 13 March 2023.

Regulation of Board of Directors No. 4/5/2022. (23 December 2022) of the Issuer, No. 2/2023. (01.10.), (10. January 2023) of the Board of Directors of MKB, No. 1/2023.(I.17.) (2023.01.17.) of Board of Directors, and No. 1/2023.(I.17.) (2023.01.17.) and No. 1/2023 (I.26), (26. January 2023) of the General Assembly of MBH, and No. 3/2023. (01.10.), (10. January 2023) of the Board of Directors of the MTB Magyar Takarékszövetkezeti Bank Zrt. and the Approval Announcement on 17 January 2023 of the Integration Organization.

The base of the issue of the first tap series MZJ29NF1: the resolutions No. 2/2/2024 (16.02.)-MBHJ-EFB (16.02.2024) and 3/1/2024 (29.02.)-MBHJ-EFB

(29.02.2024) of the Assets/Liabilities Committee.

Apart from the fees to be paid to the Managers, to the best knowledge of the Issuer, no person has a material interest in the issue

Less, than 1 per cent. of the total volume to be issued. The costs are borne by the MBH Mortgage Bank

Not Applicable

Depending on the net exchange rate me of the issue

Not applicable

These Final Terms comprise the final terms required to list and have admitted to trading the issue of Mortgage Covered Bonds described herein pursuant to the HUF 100,000,000,000 Mortgage Bond and Note Program (2023-2024) of MBH Mortgage Bank Co. Plc. (MBH Jelzálogbank Nyilvánosan Működő Részvénytársaság).

The date of the Statement of the Property Supervisor: 29.02.2024.

Annex: the Summary of the given Issue is available only in the Hungarian version of the Final Terms.

Budapest, 04.03.2024.

MBH Mortgage Bank Co. Plc.

Issuer

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