Green Bond Fact Sheet
Nedbank Ltd.

Date: 9 May 2019

Issue date: 30-04-2019 Maturity date: 30-04-2026 (3 tranches) Tenor: 7Issuer Name

Nedbank Ltd.

Amount Issued

ZAR1.66bn (USD116m)

Country of risk

South Africa

CBI Database

Included

Issuer Type1

Financial Corporate

Bond TypeUse of Proceeds GreenBond

Green Bond Framework

SDG Framework

Second party opinion

N/A

Certification Standard

Climate Bonds Standard
V2.1

Assurance report

Pre issuance verification

Certification Verifier

Carbon Trust

Green bond rating

N/A☒ Energy☒ Solar☒ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energy performance☐ 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☐ Wastewater treatment☐ 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☐ 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
ReportingCompany information

Annual reports will be made available to bondholders. These may have information on
the allocation of proceeds per project and the amount of electricity generated.
Nedbank Ltd. is a subsidiary of Nedbank Group, one of the largest financial services
groups in South Africa. In 2018, Nedbank Group had a market capitalisation of ZAR
125 billion (USD 8.7 billion). The company operates as a general services bank.
In 2017, Nedbank Ltd. signed up to the Principles for Positive Impact Finance, aninitiative of the UN PRI. It has since begun aligning its reporting and lending activities
with the SDGs and South Africa’s Nationally Determined Contributions (NDCs).

Firsts, records andcertifications

Second Certified Climate Bond to be issued from South Africa, after the ZAR1bnissuance from the City of Cape Town in 2017 linked to water infrastructure assets. It istherefore the first Certified Climate Bond to be issued by the private sector in SouthAfrica, and the second in Africa (after Nigerian Access Bank last March).
It is also the first South African green bond of 2019.

Proceeds description
Climate Bonds view

The proceeds will be used to finance the construction of four new solar and windenergy generation assets in South Africa, which are currently under construction.
We welcome Nedbank’s second green bond, as well as the fact that the bank decided
to obtain Certification for this one.
Financing renewable energy is crucial in the country. In 2018, South Africa’s
Government announced a 2030 target of 26% of its electricity generation to comefrom wind and solar generation - the majority currently comes from coal power. Thereis thus significant potential for South African’s green bond market to develop further,and we hope this Certified Climate Bond from Nedbank will increase the visibility ofgreen bonds in the country, especially as a well-known financial institution.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary1

The initial offering was oversubscribed three times

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