Green Bond Fact Sheet

CNP Assurances

Date: 18/12/2019

Issue date: 27-11-2019 Maturity date: 27-07-2050 Tenor: 30.7
Issuer Name

CNP Assurances

Amount Issued

EUR750m/USD826m

Country of risk

FranceCBI Database

Included

Issuer Type1

Financial Corporate

Bond Type

N/A

Green Bond Framework

Link to Framework

Second party opinion

Vigeo EIRIS

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☒ 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☐ 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

CNP Assurances will provide allocation and impact reports on an annual basis until the maturityof the bond.
The allocation report will include:• a description of eligible assets• amounts allocated to each category• share of financing and refinancing• share of CNP Assurances in the total project cost
• unallocated proceeds
The impact report contains impact metrics including but not limited to:• avoided CO2 emissions (buildings, renewable energy, clean transport)• estimated CO2 sequestrated (sustainable forestry)

Issuer information

CNP assurances is a French insurer that is based in Paris and currently employs around 5000people. The company provides life insurance, pension, personal risk insurance and healthinsurance. It is present in France, Spain, Argentina and Portugal amongst others. CNP
Assurances has a CSR strategy in place that is built around three commitments that relate to
the sustainable development goals.

Firsts, records andcertifications
Proceeds description

The following are the eligible categories for the use of proceeds. Assets may be financed orrefinanced.
•••

Green Buildings: construction or retrofit of existing buildings aiming to reach a certain
level of environmental certification or label (such as LEED minimum Gold) or energy
efficiency
Sustainable Forestry: acquisition, maintenance and sustainable management offorests and lands (such as FSC certified forests)
Green Infrastructure: renewable energy (onshore and offshore wind, solar,geothermal), clean transportation (such as charging infrastructure for electricvehicles)

The eligible assets will contribute to one of the main environmental objectives: climate change
mitigation, biodiversity protection and pollution prevention.

Climate Bonds view

CNP Assurance is the first French insurance company, and only the second ever globally,
to join the green bond market. The insurance industry has huge potential to combat
climate change, both through the core business of insurance provision as well as theassets that insurance companies hold. This is the first insurer green bond that covers
multiple eligible categories and scale approaching USD1bn. Well done! The green bond inconjunction with CNP’s overall sustainability strategy shows a strong commitment togreen business practices.

Underwriters

Bank of America, Credit Agricole, HSBC, JP Morgan, Natixis, SocGen

Deal comments
Credit Rating

A3 (Moody’s)
BBB (S&P)

Pricing summary•••

Coupon: 2.000%
Issue price: 99.086%
Issue yield: 2.097%

Investors summary

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