Green Bond Fact Sheet

Ferde

Date: 06/02/2020

Issue date: 23-01-2020 Maturity date: 23-09-2024 Tenor: 4.5
Issuer NameFerde AS

Amount Issued

NOK2bn/USD223m

Country of risk

NorwayCBI Database

Included

Issuer Type1

Government-Backed
EntityBond TypeSr Unsecured

Green Bond Framework

Link to Framework

Second party opinion

CICERO

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
Reporting

An investor letter will be made available on the company’s website, containing an allocation
report and an impact report. It will be published annually for as long as there are Green Bonds
outstanding.

Company information

Ferde AS is a Norwegian regional toll collection and infrastructure financing company inWest and South-West Norway, owned by various counties/municipalities. It manages tollcollection following government consent and agreements with the Norwegian Public Roads
Administration. The purpose of Norway’s regional toll collection companies is to use toll
funds to finance infrastructure projects in their respective regions.

Firsts, records andcertifications

Largest NOK-denominated green bond from Norway, tied with BKK’s from 2014 (alsoNOK2bn).

Proceeds description

The projects relate to low-carbon transport in the five counties of Sogn og Fjordane,
Hordaland, Rogaland, Vest-Agder and Aust-Agder. The aim is to increase the capacity andenergy efficiency of public transport and to improve the accessibility for bicycles andpedestrians, thereby reducing road traffic growth and carbon emissions related totransport. Eligible projects include: Rail transport (trams and light rail transit lines, including
the construction of new lines as well as capacity upgrades of existing lines and stations),
Road infrastructure for low-carbon transport (e.g. public transport and electric/hydrogenvehicles), pedestrian pathways, and bicycle lanes/tunnels.

Climate Bonds view

The Scandinavian region continues to show its leadership in green investment/projects,
especially funded by the public sector. Given the purpose of regional toll collection
companies and more broadly other government-backed entities, this is a very appropriate
type of public sector issuance and one that we hope gets replicated across the region andglobally.

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