Green Bond Fact Sheet

The Conservation Fund

Date: 02/10/2019

Issue date: 26-09-2019 Maturity date: 15-12-2029 Tenor:10.2
Issuer Name

The Conservation
Fund

Amount Issued

USD150m

Country of risk

USA

CBI Database

Included

Issuer Type1

Non-FinancialCorporate

Bond Type

Senior unsecured

Green Bond Framework

Link to Green Bond
Framework

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 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

Sustainalytics

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
ReportingIssuer information

The Conservation Fund will publish information on an annual basis until the proceeds havefully been allocated. This will include allocation reporting disclosing details on projects
funded, amounts allocated (project basis), the date of funding and expected outcomes.
Impact reporting may cover qualitative and quantitative indicators such as (but not limitedto) permanently protected land/waters, greenhouse gas (GHG) emissions sequestered,fauna and flora species identified and protected.
The information will be available on the website or in the annual report.
The Conservation Fund is a non-profit organisation, based in Arlington (VA). The Fund aims
to protect natural and cultural resources such as parks, forest and farms. In their work theintegration of economic and environmental goals is fundamental.

Firsts, records andcertifications
Proceeds description

The proceeds of the bond will go towards land conservation and working forest protection.
Land conservation includes acquiring properties in order to take protection measures forwildlife and recreation amongst others. The properties will then be transferred togovernment agencies for long-term management.
Working forest protection entails conserving privately owned timberland. These will beacquired and managed up until permanent protections are in place. The properties willthen be transferred to a third party. For working forest that exceed one year of ownership,
The Conservation Fund will obtain certifications such as FSC
In addition to that loans to third parties may be provided for the purpose of acquiring andprotecting conservation lands and working forests.

Climate Bonds view

A non-profit organisation raising capital for green bonds is a great example of how
investors as well as the community can benefit from such deals. We encourage the conceptof the Conservation Fund raising funds in order to leverage their expertise and then pass on
projects to governments or other third parties.

Underwriters

Goldman Sachs

Deal comments
Credit Rating
Pricing summary

A3 (Moody’s)

Investors summary1••

Coupon: 3.474%
Price: 100%

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