Green Bond Fact Sheet

Sociedade Bioelétrica do Mondego

Date: 12/04/2019

Issue date: 26-02-2019 Maturity date: 26-02-2029 Tenor: 10Issuer Name

Sociedade Bioelétrica
do Mondego

Amount Issued

EUR50m (USD57m)

Country of risk

Portugal

CBI Database

Included

Issuer Type1

Non-financial
corporate

Bond Type

Senior unsecured

Green Bond Framework

Green BondFramework

Second party opinion

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 emissionvehicles☐ 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

SPO

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ 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
Reporting

SBM intends to make allocation reporting available on an annual basis until the full allocationof the bond. The company will hire a third-party auditor to provide external validation ofallocated funds. In addition, SBM is committed to impact reporting on relevant metrics, also
on an annual basis

Company information

SBM is a Portuguese wholly-owned subsidiary of the Altri Grou, which is primarily engaged
in the construction, operation and maintenance of a 34.5MW capacity biomass power plant
located in Figueira da Foz, Portugal

Firsts, records andcertificationsFirst bioenergy-related issuance from Portugal (and second ever Portuguese green bond)Proceeds description

The bond will finance the development of a 34.5MW-capacity biomass power plant, which
will be attached to the pulp mill of its sister company, Celbi, and will use only FSC/PEFCbiomass feedstock. SBM estimates the facility’s future carbon intensity at approximately
125g CO2eq/kWh, which is above the threshold recommended by Sustainalytics but
nonetheless represents a major reduction compared to the average carbon intensity ofPortugal’s national electricity supply, which is 295g CO2eq/kWh.

Climate Bonds view

It is positive to see bioenergy-related issuance, which has been relatively uncommon. We
welcome the disclosure of emissions metrics, and would hope that such disclosure
becomes more commonplace, ideally assessed using the lifecycle approach. SBM is thesecond ever Portuguese green bond issuer, following EDP’s inaugural deal in late 2018.
Although SBM’s bond is of a much smaller size than EDP’s, it suggests the Portuguese green
bond market is becoming active. We hope it will continue expanding, including into sectors
beyond energy.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign