Green Bond Fact Sheet
UBank (subsidiary of National Australia Bank)

Date: 4 April 2019

Issue date: 14-03-2019 Maturity date: N/A Tenor: N/AIssuer Name

UBank (subsidiary of NationalAustralia Bank)

Amount Issued

N/A (minimum deposit ofAUD1,000)

Country of risk

Australia

CBI Database

Included

Issuer Type1

Financial Corporate

Bond Type

Fixed Term Deposit

Green Bond Framework

NAB SDG Green BondFramework

Second party opinion

N/A

Certification Standard

Climate Bonds Certification

Assurance report

Pre issuance verification
statement

Certification Verifier

DNV GL

Green bond rating

N/A☒ Energy☒ Solar☒ Onshore wind
☒ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Buildings☒ Certified Buildings☐ HVAC systems☐ Energy performance☐ 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☐ Wastewater treatment☐ 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☐ 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

There will be annual verification reports conducted by DNV GL. These will be madeavailable publicly on the issuer’s website.
UBank is a digital bank subsidiary of NAB, targeted primarily at younger customers.
It has been quite successful – between mid-2018 and March 2019, its customer
base grew by 25% to over 500,000 customers.
This product received Certification under the NAB SDG Green Bond ProgrammaticCertification, which began in 2018.

Firsts, records andcertifications

Proceeds description

Climate Bonds view

This is the first retail term deposit product linked to green investments in theAustralia market. It is also the world’s first green fixed term retail deposit linked toassets Certified under the Climate Bonds Standard.
Through this product, retail clients can receive up to 2.55% interest on theirsavings. The proceeds will be used to fund a portfolio loans on renewable energy
projects such as wind and solar energy and low carbon buildings, originated under
NAB’s SDG Green Bond programme, which is Certified under the Climate Bonds
Standard.
The younger demographic tends to care more about the environmental impacts of
its investments, so the target segment is not surprising. Deposit products provide
an easy way for retail investors to contribute towards the transition to a low-carbon
economy. We are pleased to see this type of product being developed, whichshould increase the visibility of green bonds and green assets within the generalpublic, and hope other financial institutions around the world create similar options
for retail investors.
For further examples of green retail products, please see our recent Green bonds
state of the market 2018 report, which featured a spotlight on green retail products(p. 20).

Underwriters

N/A

Deal comments
Credit Rating

N/A

Pricing summary

Up to 2.55% pa

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