Green Bond Fact Sheet

Banco Galicia

Date: 20/06/2019

Issue date: 01-06-2018 Maturity date: 01-06-2025 Tenor: 7
Issuer Name

Banco Galicia

Amount Issued

USD100m

Country of risk

Argentina

CBI Database

Included

Issuer Type1

Financial corporate

Bond TypePrivate placement

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☒ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☒ Bioenergy☐ District heating☐ Electricity grid☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Buildings☐ Certified Buildings☐ HVAC systems☒ Energyperformance☐ Water performance☒ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☒ Transport☐ Electric vehicles☐ Low emission
vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☒ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☒ Energy performance☐ Infrastructure☒ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☒ Other☐ Adaptation &resilience☐ ICT☒ Industry: process

Issue details
ReportingNo information foundCompany information

Banco Galicia is one of the largest commercial banks in Argentina. It is a full-service
bank that offers a complete range of financial services to over 3m customers, bothindividuals and corporations. It is wholly owned by Grupo Financiero Galicia.

Firsts, records andcertificationsFirst corporate green bond issued in Argentina, as well as the first (and only) green
bond from Argentina in 2018.

Proceeds description

Proceeds will support energy efficiency, renewable energy, and sustainable
construction projects, among others. Projects will include those with a specific focus on
the environment, such as renewable energy, energy efficiency, clean transport, andwaste management. In particular, the pipeline is composed of solar, wind, biomass andenergy efficiency projects.

Climate Bonds view

It is very positive to see the first corporate issuance from Argentina, one of the largest
countries in LatAm. Owing to their scale and reach, large financial corporates have thepower to significantly support the transition to a green, low-carbon economy; yetissuance from LatAm financial corporates has been weak. We hope other large
financial groups will follow, not just in Argentina but in the whole region.
However, likely due to the private nature of this placement, public information about
this deal is lacking. We strongly suggest that Banco Galicia discloses more information
about this green bond on its website, especially regarding the use of proceeds.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1IFC

Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign