Green Bond Fact Sheet

CityconDate: 19/12/2019

Issue date: 22-11-2019 Maturity date: N/A Tenor: Perpetual
Issuer Name

CityconAmount Issued

EUR350m/USD388m

Country of riskFinland

CBI Database

Included

Issuer Type1

Non-FinancialCorporate

Bond TypeSr unsecured

Green Bond Framework

Link to framework

Second party opinion

CiceroCertification 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

Citycon has committed to regular reporting for as long as there are Green Financing
Instruments outstanding. The annual report will be published on Citycon’s website and coveruse of proceeds and impact indicators. The details are covered on p. 11 of the Framework.
Citycon is a leading owner, manager and developer of urban shopping centres in the Nordiccountries. It currently manages 38 assets totalling approximately EUR 4.4bn. Citycon is themarket leader in Finland and among the top ones Norway, Sweden and Estonia. It also
operates in Denmark.

Firsts, records andcertifications
Proceeds description

The proceeds can be allocated to several project categories within the context of improving
the environmental performance and climate mitigation aspects of buildings.
The categories include:••••

Green buildings – new and existing properties certified against LEED (min. Gold) or
BREEAM/BREEAM In-Use (min. Very Good), NZEBs or properties with excellent
energy performance (e.g. EPC class A)
Energy efficiency – e.g. improvements in lighting or HVAC systems, building green
roofs or installing EV charging stations
Renewable energy – onsite renewables with emphasis on solar panels
Waste management – improvements in e.g. recycling or other waste disposal
methods

According to the issuer, 97% of the eligible asset pool comprises existing buildings, 2.7%
new construction and 0.3% renewable energy (solar) installations.

Climate Bonds view

Citycon’s green bond framework includes a good level of detail and ambition withregards to use of proceeds as well as impact. Citycon has also specified the types ofinstruments it can issue under its Green Financing Framework, including labelled green
bonds, commercial paper, loans, hybrid bonds or private placements.
The company has provided an estimate of its total eligible asset pool (EUR2.7bn),
helpful for understanding the scale of potential future green issuance. It has also
contextualised the financing with a net neutrality goal by 2030, which speaks tobroader efforts in transitioning from brown to green. We look forward to seeing moreof such positive ambition in the market along with accompanying strategies.

Underwriters

Citi, Swedbank, UBS

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