Green Bond Fact Sheet

Celulose Irani

Date: 17/09/2019

Issue date: 02-08-2019 Maturity date: 17-09-2025 Tenor: 6Issuer Name

Celulose Irani

Amount Issued

BRL505m/USD131m

Country of risk

BrazilCBI Database

Included

Issuer Type1

Non-financial corporate

Bond Type

Senior unsecured

Green Bond Framework

N/A

Second party opinion

Sitawi

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☐ 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☒ Land remediation☒ FSC Forestry☐ Energy/water efficiency☒ FSC Cellulose & paper☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ Industry: process☐ ICT

Issue details
ReportingIssuer information

The issuer will report on the destination of the proceeds and a number of environmental
impact metrics annually on its website and/or sustainability reports. The information will beaudited and also benefit from a post-issuance review by Sitawi 12 months after issuance.
Celulose Irani is a large producer of paper and derivatives, as well as forestry products(including resin, wood and furniture). It also administers several forestry projects, e.g.
afforestation, which enable sustainable management and industrialization of resources andare typically rendered by third parties. The company has a strong commitment to avoiding
deforestation and implemented a number of initiatives in the last few years.
Almost all of Celulose Irani’s forestry operations are in FSC-certified areas. This includes
production of derivatives such as resin. In addition to that, a significant share of their energy
comes from renewable sources.

Firsts, records andcertifications
Proceeds description

Climate Bonds view

Most proceeds will refinance general investments related to paper production – mainlypurchasing supplies, capital expenditure and sustainable forestry management. A portion will
specifically finance machinery and other supplies for paper recycling operations
Sustainable land use, particularly certified forestry and products, is one of the main use ofproceeds categories in Brazil and LatAm more generally. We are pleased that the amount ofrefinancing is clearly stated.

Underwriters
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