Sustainable Bond Framework

Overview of the Framework and SPO Overview of ROC'S Sustainable Financing Framework ROC's Sustainable Financing Framework received a Second Party Opinion (SPO) from ISS ESG Green Bond Principles Green Bond Principles ICMA Social Bond Principles Social Bond Principles ICMA Sustainability Bond Guidelines Sustainability Bond Guidelines Voluntary Process Guidelines for Issuing Green Bonds June 2021 Voluntary Process Guidelines for Issuing Social Bonds June 2021 June 2021 ICMA Republic of Cyprus ISS CO CORPORATED ISS ESG ISS ESG mury21123 SECOND PARTY OPINION (SPO) The Reash of Cre ROC's Sustainable Finance Framework is aligned with Green and Social Bond Principles as published by the ICMA, the ICMA Sustainable Bond Guidance and the LMA Green and Social Loan Principles following Core Components and Key Recommendations: Use of Proceeds, Project Selection and Evaluation, Management of Proceeds, Reporting, Sustainable Finance Framework, External Review Cyprus has also taken into consideration the developing EU Taxonomy on environmentally sustainable economic activities in developing the criteria for eligible expenditures under this Framework. • ISS-ESG has assessed the Republic of Cyprus' Sustainable Finance Framework as 'Aligned' to the Green and Social Bond Principles as published by the ICMA, the ICMA Sustainable Bond Guidance and the LMA Green and Social Loan Principles. ISS-ESG has judged the sustainability quality of the eligibility criteria as 'Positive'. Issuer's ISS ESG has judged the linking of the transaction to Cyprus' overall ESG Profile as 'Consistent with sustainability strategy'. 32

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