Green Bond Fact Sheet

University Properties of Finland

Date: 10-Jan-2018

Issue date: 02-Nov-2018 Maturity date: 02-Nov-2023 Tenor: 5Issuer Name

University Propertiesof Finland

Amount Issued

EUR100m (USD114m)

Country of risk

Finland

CBI Database

IncludedIssuer Type1

Non-FinancialCorporate

Bond TypeGreen bondGreen Bond Framework

Link to Framework

Second party opinion

CICERO

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 emissionvehicles☐ 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
☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ 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

SYK will report on its green bonds through its annual Green Bond Investor Letter. The letter
will cover a list of all projects financed, including their allocated amount, a brief description
and expected impact. Reporting will also include the division of allocation of financing
between new and refinanced projects. SYK aims to also report on the type and level ofcertification, energy use and CO2 emissions when relevant and potentially otherenvironmental benefits. The issuer has informed us that energy reduction will also bereported. Reports will be audited by an external auditor and published on the issuer’swebsite.

Company information

The University Properties of Finland Ltd (SYK) is a nationwide owner and developerof higher education campuses outside of the Helsinki metropolitan area.
Altogether SYK owns 1.1 million square meters of space and yearly turnover isabout 150 million euros.

Firsts, records andcertificationsFirst Finnish corporate to enter the green bond market.

Proceeds description

Proceeds will be earmarked for the financing of new or existing buildings certified
as BREEAM Very Good and with energy use 15% lower compared to the Finnish
national building code, energy efficiency projects yielding at least 25% reductions
in energy use, renewable energy solutions to satisfy property energy needs andelectric vehicle infrastructure.

Climate Bonds view

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

This is the only green bond to come to market from a Finnish issuer in 2018. With
this deal, Finland’s cumulative issuance stands at USD1.4bn. The deal waspreviously classified as pending due to insufficient information related to energy
efficiency projects. The issuer has now confirmed that energy efficiency
improvements to fossil fuel technologies are not eligible under the green bondframework.

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