Notice of Sale - $900, 000, 000 General Obligation Bonds, Series of October 2026

The State of Illinois, through the Governor's Office of Management and Budget, is soliciting sealed bids for $900 million in General Obligation Bonds, Series of October 2026, with bids due September 22, 2026, via PARITY electronic bidding only; in-person and faxed bids are not accepted.

The offering comprises three series: $385 million Taxable Series of October 2026A, $263 million Series of October 2026B, and $252 million Series of October 2026C. Bonds are issued as fully registered book-entry securities in $5,000 denominations, registered in the name of Cede & Co. as nominee of The Depository Trust Company. Principal and interest payments are due October 1 annually, with interest payable semiannually on April 1 and October 1 beginning April 1, 2027. Beneficial interests are expected available for delivery through DTC on or about October 14, 2026.

The October 2026A Bonds (taxable) will fund accelerated pension benefit payments to the State's retirement systems and finance capital expenditures under the Rebuild Illinois capital plan. The October 2026B and October 2026C Bonds (tax-exempt) will finance capital expenditures under Rebuild Illinois and other authorized capital projects. Interest on the October 2026B and October 2026C Bonds is excludible from gross income subject to State compliance with certain covenants; the October 2026A Bonds are taxable with interest includible in federal gross income.

Credit ratings are A1 (Moody's, Stable Outlook), A (S&P, Stable Outlook), and A– (Fitch, Positive Outlook). The bonds are direct general obligations of the State secured by its full faith and credit, issued under the General Obligation Bond Act. Chapman and Cutler LLP and the Hardwick Law Firm, LLC serve as Co-Bond Counsel and Co-Disclosure Counsel. The October 2026A Bonds are subject to make-whole optional redemption at any time on a business day; the October 2026B and October 2026C Bonds are subject to optional redemption on or after October 1, 2036. Certain bonds are subject to mandatory sinking fund redemption prior to maturity.