Green Bond Fact Sheet

Berkshire Hathaway

Date: 28/07/2020

Issue date: 16-06-2020 Maturity date: 16-06-2026 Tenor: 6Issuer nameNorthern Power Grid(NorthEast)

Amount issued

GBP300m/USD393m

Country of riskUK

CBI Database

Included

Issuer type1

Non-FinancialCorporate

Bond typeSr Unsecured

Green bond framework

Link to Framework

Second party opinion

DNV GL

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

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
ReportingCompany information

Allocation and impact reporting will be made available on the company’s website. This will
include allocated amounts to each category, financing vs refinancing, year of investment andunallocated proceeds. The impact report will include metrics such as capacity of renewableenergy production connected in the grid (MW) estimated annual CO2 emission reduction (intCO2eq).
There may also be case studies and information on the methodologies used.
Northern Powergrid is responsible for the electricity network across the North East,
Yorkshire and northern Lincolnshire. The network has more than 64,000 substations, over96,000km of overhead lines and underground cables. Currently, the company employs
2,700 people.

Firsts, records andcertifications
Proceeds description

The funds will finance and re-finance (completed or charged in the last three years)
projects in the following operations:- Connection and/ or integration of renewable energy to the grid
- Improving reliability and energy efficiency of the grid, smart equipment and battery
replacement- Emission and waste mitigation projects- Electric vehicles- Care for environment and wildlife- Flood mitigation- Earthing system improvements, innovation, management of natural habitats- Reducing waste- Energy-efficient buildings

Climate Bonds view

This is the second grid operator from the UK to join the green bond market. Suchorganisations play a pivotal role in the fight against climate change, especially when it
comes to connecting and/or integrating low-carbon electricity generation sources tothe grid. This also includes the replacement and improvement of assets to reduceenergy losses and improving the resilience of the grid. An increasing number of gridproviders are joining the green bond market globally as well. This year alone we saw
maiden issuances from National Grid (UK), Red Eléctrica (Spain) and Statnett SF(Norway). This shows issuers are recognising the potential of such projects in the fightagainst climate change. We hope this will encourage more grid companies to issue
green bonds to finance these crucial climate solutions.

Underwriters
Deal comments
Credit ratingA (S&P)
A (Fitch)

Pricing summary••

Coupon: 1.875%
Price: 98.793%

Investors summary

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