FRN Variable Rate Fix

23-December-2025

Issue: VCL Master S.A. Compartment 1

Series 2012-3 Class A Notes

XS0857705866

Pursuant to our appointment as Agent for the above stated issue, please be advised of the following interest rate determination:

Date From: 29-December-2025

Date To: 26-January-2026

Record Date: 23-January-2026

Value Date: 26-January-2026

Benchmark Rate: 1.894%

Margin: 0.55%

Total Rate: 2.444%

Number of Days: 28

Day Count: Actual / 360

Interest Frequency: Monthly

Total Amount Due:

EUR 259,471.33

Interest Per 1K: EUR 1.90088886

Pool Factor: 1

View source version on businesswire.com: https://www.businesswire.com/news/home/20251223129063/en/

HSBC Bank Plc