Green Bond Framework Presentation

ESG at Nordea 10 Dedicated ESG teams Nordea continuously assess and evaluate transformative themes and areas which we believe shape the future landscape of businesses, since social and technology change as well as climate change and other environmental issues impact business models. Nordea have two dedicated ESG teams to support the organization with research and analysis based on the Nordea ESG methodology. One team works within responsible investments and the other within lending and financing. We underpin our approach with externally sourced ESG research and ratings. This provides coverage of over 4,000 companies globally both in terms of their practices and tracking controversial issues. . • ESG analysis integrated into investments Nordea bases its investment approach on internationally recognized principles for sustainable investment and active ownership. Nordea has developed its policies, procedures and investment products to ensure that the companies we invest in all live up to various criteria of sound environmental, social and governance performance. Nordea has developed an internal ESG database available to all investment professionals. This way we assure that investment and portfolio development decisions are based on a fuller set of information - key factors to improve risk management and thereby risk-adjusted returns for our clients. After years of dedicated work with ESG analysis, Nordea has extensive experience in sustainable investments. We believe that by engaging and investing in ambitious companies, we can make a considerable difference; selecting companies with high sustainability performance and potential of generating economic value with low risk for our clients. . ESG analysis integrated into financing Nordea has built up a strong in-house ESG analysis team that supports our credit analysts and client executives to integrate ESG aspects in financing. Nordea is committed to engaging with customers on ESG matters and to understanding the challenges and opportunities customers have in their respective businesses and industries. The ESG analysis conducted in relation to our customers concludes in an ESG risk rating which is included in credit memorandums. In total, we have five ESG risk categories, ranging from low to high risk. Companies assigned a high ESG risk are escalated to a group-level credit committee which can, if deemed necessary, consult our Business Ethics and Values Committee (BEVC) - a committee that has overall responsibility for conduct and sustainability in Nordea. For companies rated in the highest risk category, long-term financing is typically offered only on specific terms. Nordea

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