Green Bond Fact Sheet
Willhem AB

Date: 13-Sept-2018

Issue date: 03-Sept-2018 Maturity date: 03-Sept-2023 Tenor: 5Issuer Name

Willhem AB

Amount Issued

SEK800m(USD88m)

Country of risk

SwedenCBI Database

Included

Issuer Type1

Non-financial
corporate

Bond TypeSenior unsecured

Green Bond Framework

Link to Framework

Second party opinion

CICERO

Certification Standard

N/A

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
☐ 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

Willhem AB is committed to provide annual Green Bond Investor Letter to investor withinformation regarding a list of projects financed including information about energy use andcertifications when relevant, a selection of project examples, and a summary of Willhem’s
Green Bond development. Such reporting will be assured by Willhem’s internal Audit
Function. The investor letter and the opinion of he internal Audit Function will be publicly
available on Willhem’s website.
Willhem is a Swedish real estate company owned by the AP Fund (Swedish Pension Funds).
The company has set annual targets to to reduce energy consumption in their portfolio toan average of 92 kWh/m 2 and to cut emissions by half in 2015. Given that the emissions
target has been achieved in 2015 (due to shift to hydro power electricity) a new target has
been set to further reduce emissions by 25% from 2015 levels. From 2015 the issuer
purchases certificates of origin for hydro powered electricity for all electricity.

Firsts, records andcertificationsProceeds description

Proceeds are earmarked for financing green buildings, renewable energy and cleantransportation.
Renewable energy projects include solar, geothermal, wind power and bioenergy.
Clean transportation includes electric vehicles and related infrastructure, as well as
provision of car pools. CICERO awarded the clean transportation category a “LightGreen”, noting that eligible car pool projects could include fossil fuel cars.
For energy efficiency in buildings, the target is to decrease the energy use per yearby 25% with respect to the benchmark required by Swedish codes and regulations,or to obtain certification from one of the following schemes: LEED (minimumGold), BREEAM (minimum ‘Very Good’), or Miljöbyggnad (minimum Silver),Svanen, EU Green Building and Fedy-12 (Mini-energy building).

Climate Bonds view

Car pool services using fossil-fuel based vehicles are not automatically aligned tothe Climate Bonds Taxonomy and are usually considered on a case-by-case basis
according to whether they meet the universal gCO2/p-km (passenger perkilometre) threshold (p12 of Low Carbon Transport Criteria).
Given Willhelm AB is a real estate company and car pools are just a subset of oneof three eligible categories, we decided to include the bond with the assumptionthat less than 5% of proceeds will be allocated to this project type. However, wewill closely monitor the bond’s proceed allocation and impact reporting to ensurethat either the vehicles meet the universal threshold (75gCO2/p-km in this case) orthat only a maximum of 5% of proceeds have been allocated to finance this projecttype.

Underwriters

SEB

Deal comments
Credit Rating

A-Pricing summary
Investors summary

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

corporate, sovereign