NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

KPN has successfully priced a Eurobond offering, consisting of a EUR 625 million tranche maturing on 9 April 2025 with a 0.625% coupon and a EUR 625 million tranche maturing on 11 September 2028 with a 1.125% coupon. The bonds have been placed with a broad range of institutional investors. 

The bonds will be issued under KPN's Global Medium Term Note programme and will be listed on Euronext Amsterdam. The proceeds from the bonds will be used to repurchase existing Eurobonds through a tender offer as announced earlier today and for general corporate purposes. The tender offer is still outstanding and is due to close on 6 September 2016. Terms are set out in the Tender Offer Memorandum dated 30 August 2016. Copies of the Tender Offer Memorandum can be obtained upon request from the Tender Agent. 

KPN has a credit rating of Baa3 with a stable outlook by Moody's, BBB- with a stable outlook by S&P and BBB with a stable outlook by Fitch.

Credit Suisse, ING, Société Générale and UniCredit Bank AG acted as Joint Lead Managers on this transaction. ABN AMRO and Rabobank together with the Joint Lead Managers acted as Managers for the new issue.

Disclaimer
These materials are not for release, distribution or publication, whether directly or indirectly and whether in whole or in part, into or in the United States, Australia, Canada or Japan or any (other) jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

The offer of bonds referred to in this announcement shall be limited to qualified investors only. The bonds are not and will not be registered under the US Securities Act of 1933, as amended (the US Securities Act) and will also not be registered with any authority competent with respect to securities in any state or other jurisdiction of the United States of America. The bonds may not be offered or sold in the United States of America without either registration of the securities or an exemption from registration under the US Securities Act being applicable.