Green Bond Fact Sheet

Vodafone

Date: 09/07/2019

Issue date: 24-05-2019 Maturity date: 24-11-2026 Tenor: 7
Issuer Name

Vodafone

Amount Issued

EUR750m/USD840m

Country of riskUK

CBI Database

Included

Issuer Type1

Non-financial
corporate

Bond TypeSr unsecured

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
☐ 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
ReportingVodafone will report annually on the allocation of proceeds and on the impact of the green
project portfolio until proceeds have been fully allocated. Allocation reporting will include
the total amount of investments and expenditures in the portfolio, the amount or percentageof new and existing projects and the balance of unallocated proceeds.
Impact reporting will include directly and indirectly reduced GHG emissions and energysaved. The reporting will be published on Vodafone’s corporate website.

Company information

Vodafone is a British multinational telecommunications conglomerate headquartered inLondon and Newbury, Berkshire. It operates services in Asia, Africa, Europe, and Oceania.
Vodafone ranked 4th in the number of mobile customers globally with 313 million as of2018. The company generated nearly USD50bn (equivalent) of revenue in 2018.

Firsts, records andcertifications

The first UK ICT company to enter the green bond market.

Proceeds description

Vodafone will allocate proceeds to three categories:

1. Energy Efficiency
2. Renewable Energy
3. Green Buildings
Energy Efficiency includes two sub-criteria: supporting the roll-out of Internet of Things(IoT) technologies and energy efficiency in Vodafone’s operations. Examples of the former
include smart metering, smart lighting, smart parking and other smart city applications.
Sharing economy aspects, such as bike and electric vehicle sharing, industry automationand smart logistics, are also included.
Onsite Renewable Energy includes solar, wind, biofuel and absorption cooling. Large hydro(>25MW) and Geothermal with direct emissions above 100g CO2/kWh is excluded.
The Green Buildings category includes new buildings or retrofits of existing buildings withthird-party certification standards such as LEED (Gold or higher) and BREEAM (Very Good orequivalent). Other categories of green buildings include the top 15% most efficientbuildings in the region, aligned with CBI’s Low Carbon Buildings Criteria.

Climate Bonds view

Underwriters

As the need for data and connectivity increases across the world and bumps up energy
demand along with it, it is important to engage the ICT sector in emission reductions
through green financing. Vodafone’s framework includes very relevant aspects, mostimportantly the scaling up of IoT applications in cities. The cumulative issuance from theICT sector now amounts to USD6.1bn.
BAML, RBC, ING, SocGen

Deal comments
Credit Rating

AA- (S&P), AA- (Fitch)Pricing summary
Investors summary

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