Investor Presentaiton
Odfjell at a glance
Odfjell Tankers
Odfjell Terminals
Capital Allocation
Summary
Odfjell's sustainability-linked finance framework is testament to our commitment
to deliver on the ambitions set out in the Fleet Transition Plan
KPIs & SPTS
CO2
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BOND CHARACTERISTICS
REPORTING
VERIFICATION
KPIs¹;
1. Actual carbon intensity for the Odfjell
Controlled Fleet²
2. An assessment of the Fleet
Transition Plan and its viability on
the relevant Target Observation Date
SPTS
AER³ Performance of 8.18 or lower at
30 June 2024
Reduce carbon intensity by 50% by
2030 compared to 2008
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> The KPI performance versus the SPTS
will be linked to the redemption price of
the contemplated bonds
Redemption price to increase by 150
bps if Odfjell fails to meet the SPT at the
Target Observation Date (30 June 2024),
and provide the necessary reporting
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Redemption price to remain
unchanged if the SPTs are met
O The performance under the AER KPI will
be measured on an annual basis throughout
the tenor of the bonds
⚫ Further, an external reviewer will provide
an annual opinion on whether or not Odfjell
is on track to meet its ambitions under the
! Fleet Transition Plan
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Reporting to be provided in a progress
2nd opinion of the SLF framework
We have obtained a second party opinion
from DNV GL, confirming alignment of the
framework with the principles set out by
ICMA and LMA
Verification of performance by a
qualified third-party verifier
Annual verification of actual AER
performance relative to to the SPTS
✪ Annual review of the Fleet Transition Plan
and confirmation that it remains viable and
¦report to be published no later than 90 days possible to reach at that point in time
post the applicable Target Observation Date
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The 2nd party opinion from DNV GL confirms alignment with the ICMA principles and the credibility of Odfjell's strategy to achieve the SPTS
1) The definition of the KPI and SPT in the Framework is limited to the AER Performance at the Target Observation Date. For illustrative purposes, we have included the assessment of the Fleet Transition Plan and its viability in the
above table as both targets must be met in order for the redemption price to remain unchanged at par. Please refer to the Sustainability-Linked Finance Framework and Bond Term Sheet for further details
The Odfjell Controlled Fleet consists of owned and bareboat chartered tonnage (financial and operational leased)
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Average Efficiency Ratio will be applied as the measure on Carbon intensity. AER has become the industry standard on carbon intensity, and the metric is recognized as consistent with the policies and regulations of IMO-DCS.
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