Green Bond Framework Presentation

External Review "The overall sustainability quality of the asset pool in terms of sustainability benefits, risk avoidance and minimisation is good based upon the ISS ESG Green Bond KPIs." Highlights from ISS ESG's Second Party Opinion • • . "The issuer has defined a formal concept for its Green Bonds regarding use of proceeds, processes for project evaluation and selection, management of proceeds and reporting. This concept is in line with the ICMA GBPs." "The overall sustainability quality of the asset pool in terms of sustainability benefits, risk avoidance and minimisation is good based upon the ISS ESG Green Bond KPIs...All assets of the asset pool are located in highly regulated and developed countries. Legislative frameworks in those countries set minimum standards, which reduce environmental and social risks." "The issuer itself shows a good sustainability performance and has been given a rating of C, which classifies it as 'Prime' by the methodology of the ISS ESG Corporate Rating." ISS ESG's Corporate Rating • Status: Prime • Rating: C • Decile rank: 1 • • • "As at 17.08.2020., this rating puts Nordea in place 28 out of 285 companies rated by ISS ESG in the Commercial Banks & Capital Markets sector." "In all of the key issues, Nordea rates above the average for the sector. A very significant outperformance was achieved in "Sustainable investment criteria"...The bank does not face any severe controversy." CONTRIBUTION TO THE UN SUSTAINABLE DEVELOPMENT GOALS No Significant Obstruction Limited Obstruction Net Impact Limited Contribution Significant Contribution 3 2. 6 BULEMMARE DEL 20 Selection and Evaluation Use of Proceeds of Green Bond Assets ← 13 TH 15 Management of Proceeds Reporting External Review Nordea

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