Green Bond Fact Sheet

ORIX

Date: 12/02/2020

Issue date: 30-01-2020 Maturity date: 30-01-2025 Tenor: 5Issuer Name

ORIX

Amount Issued

JPY10bn/USD92m

Country of riskJapan

CBI Database

IncludedIssuer Type1

Financial Corporate

Bond TypeSr Unsecured

Green Bond Framework

N/A

Second party opinion

Sustainalytics

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
ReportingCompany information

ORIX is committed to disclose information annually on proceed allocation and impact
reporting on its website. Information on proceed allocation includes share of allocated andunallocated proceeds, projects funded, and proceed allocation per project. Impact reporting
will disclose the following environmental impact indicators: installed capacity (kWh),estimated CO2 emission reduction (tonnes), proceed allocation per number of vehicles, levelof certification per building and CO2 emissions per building (tons).
ORIX is a diversified financial services company with operations that include leasing, loans,investments, life insurance, banking, asset management, automobile services, real estate,environment and energy, and other activities. ORIX’s operations span globally with businesssites in 37 countries and regions with focus on Japan (as of March 31, 2019). ORIX wasestablished in 1964 and its head office is in Minato-ku, Tokyo.

Firsts, records andcertifications
Proceeds description

ORIX intends to allocate proceeds to renewable energy, clean transportation and greenbuildings.
Renewable energy includes: solar, wind (onshore and offshore), biomass, geothermal andhydroelectric power generation. Biomass projects are restricted to sustainable feedstock
and waste sources that do not compete with food products. Hydro projects are restricted
to powerplants with 25MW generation capacity. There is no threshold for GHG emissions
for geothermal projects, however, Japan does not represent a country which requires
further evaluation on CO2 emissions from geothermal facilities, according to the Green
Bond Methodology.
Clean transportation eligible projects are: electric (EVs), plug-in hybrid (PHVs), hybrid (HVs)and fuel cells vehicles (FCVs). CO2 emission threshold is no more than 75g/km/passenger.
Eligible low-carbon buildings are those which received or plan to receive the top two levelsof the following industry: CASBEE, LEED, BELS, DBJ Green Building Certification. In addition,
Orix plans to allocate proceeds to which received Rank A or above on self-assessment that
conforms to the CASBEE evaluation methodology.
Proceed allocation to existing project has a look-back period of maximum three years.

Climate Bonds view

Underwriters
Deal comments
Credit Rating

CBI believes that ORIX’s green bond is in line with market practice around eligible
categories for proceed allocation and transparency on impact reporting. However, CBIdiscourages self-assessment on building certification levels as evaluation from an
independent third party constitutes best practice and maintains rigor around theprocess of awarding certification.
MUFG, Mizuho, Daiwa

Pricing summary
Investors summary

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