Green Bond Fact Sheet

Piedmont Office Realty

Date: 28/08/2020

Issue date: 12-08-2020 Maturity date: 15-08-2030 Tenor: 10Issuer name

Piedmont OperatingPartnership

Amount issued

USD300m

Country of risk

USA

CBI Database

Included

Issuer type1

Financial Corporate

Bond typeSr Unsecured

Green bond framework

N/A

Second party opinion

N/A

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
ReportingCompany information

Until full allocation there will be annual updates on the website on the allocation which will
include the achieved or expected level of LEED or BREEAM certification and relevant
expected impact metrics, where feasible.
Piedmont Office Realty Trust is a real estate investment trust and engages in theacquisition, development, redevelopment, management, and ownership of commercial realestate properties located primarily within eight major Eastern United States office markets,
including properties that are under construction, are newly constructed, or have operating
histories. The company was incorporated in 1997. The company conducts its businessprimarily through Piedmont Operating Partnership, a Delaware limited partnership, as wellas performing the management of its buildings through two wholly-owned subsidiaries.

Firsts, records andcertifications
Proceeds description

The company intends to allocate the proceeds towards the previous acquisition of theGalleria Office Towers in February 2020 for USD396.2m, which has received LEED Certified.
Generally, eligible green categories include green buildings (LEED and BREEAM certification
at a certain level); energy efficiency including HVAC system, LED, smart meters amongstothers; Sustainable Water and Wastewater Management with improvements in irrigationwater use amongst others; and Renewable Energy renewable energy production units andstorage systems, including but not limited to solar panel installations.

Climate Bonds view

Underwriters

The US is adding another green bond issued by a REIT which now adds up to USD11.6bn. It
is great to see multiple different eligible project categories covered and a precise
description of what will be funded with this particular issuance.
BofA, JPM, MS, WFS, BMO, Jefferies

Deal comments
Credit rating

BBB (S&P)
Baa2 (Moody’s)

Pricing summary•••

Yield: 3.24%
Coupon: 3.15%
Price: 99.236%

Investors summary

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