Green Bond Fact Sheet

Danske Bank

Date: 26-Mar-2019

Issue date: 15-03-2019 Maturity date: 15-03-2024 Tenor: 5Issuer Name

Danske Bank

Amount Issued

EUR500m/USD565m

Country of risk

Denmark

CBI Database

IncludedIssuer Type1

Financial corporate

Bond Type

Non-preferred senior notes

Green Bond Framework

Link to framework

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
☐ 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
Reporting

Danske Bank will provide annual Green Bond reporting on allocations and impact until bondmaturity. The reporting will be made available on Danske’s website.

Company information

Danske Bank is a Denmark-based bank that serves 2.8 million customers in 16 countries
across its four business lines. The bank has both personal as well as corporate andinstitutional customers. It employs nearly 20,000 people and has a USD16bn market cap.

Firsts, records andcertifications

Danske Bank is the first Danish commercial bank to issue a green bond (i.e. first financial
corporate issuer from Denmark)

Proceeds description

Danske Bank’s inaugural green bond will finance or refinance a variety of sectors, including:
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Climate Bonds view

Clean transportation: Low-carbon private and public transportation vehicles andinfrastructure, excluding rolling stock and related infrastructure for transporting
fossil fuels.
Renewable Energy: Wind, solar, wave/tidal, geothermal (max. 100gCO2e/kWh),hydro (small or large-scale but must comply with IFC requirements) and bioenergy.
All biomass must have a supply chain certification as an indicator of sustainability.
Transmission and Energy Storage: Transmission lines, energy storage facilities ortechnologies and/or associated infrastructure (for renewable energy).
Green and energy efficient buildings: Commercial or residential buildings that arecertified to a high standard under a reputable scheme (e.g. LEED, BREEAM,
Miljöbyggnad, etc.) or have an EPC level of A or B, respectively.
Retrofits/refurbishments achieving a min. 30% performance improvement andequipment that improves energy efficiency by a min. 20% also qualify.
Environmental (living natural) resource management and land use: Forestmanagement (FSC or PEFC certified or meeting equivalent requirements),
agriculture (EU organic standards) and fishery (MSC or ASC certified).
Sustainable water and wastewater management: Water facilities, infrastructureand efficiency measures, such as wastewater processing, urban drainage systems,
water purification, drinking water quality fresh water supply and water efficiency.
Pollution prevention and control: Waste management (recycling of all types ofwaste) and waste to energy facilities and/or the associated infrastructure(including CHP, and with consideration for lifecycle aspects and special attention
to fossil fuel-based waste incineration, e.g. plastics.
Climate change adaptation: Projects targeting the preservation or advancement ofadaptive capacity and resilience to reduce human, wildlife and natural systems’vulnerability to climate change impacts (e.g. sea level rise, drought, storms andextreme precipitation).

This bond is the first financial corporate issuance from Denmark and adds to the alreadysizeable group of Nordic commercial bank issuers. It may spur further issuance in Denmark,which so far has only seen six green bonds from five issuers, for a total of just over USD4bn.
It is also good to see a diverse set of eligible project categories, such as tidal/wave energy,energy transmission and storage, and climate change adaptation

Underwriters

ABN Amro, BNP Paribas, Credit Agricole, Danske Bank and ING

Deal comments
Credit Rating

Fitch: A; Moody’s: Baa2; BBB+Pricing summary

Price: 99.463%, Yield: 1.738Investors summary

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