Investor Presentaiton

38 External Verifications SECOND PARTY OPINION EXTERNAL REVIEW 6 SOCIAL BONDS A Second-Party Opinion (SPO) was delivered by ISS ESG to evaluate transparency, governance and compliance to ICMA Social Bonds Principles ISS ESG published its SPO on the 30th June 2020 and is available on Unédic's website: 1. One-Pager 2. SPO ISS ESG‣ Contribution to the UN Sustainable development Goals ISS ESG has also been mandated to evaluate transparency, governance and alignement of the Social Bond Reporting with the Unédic's Social Bond Framework and the ICMA Social Bond Principles ISS ESG published its External Review on Unédic' Social Bond Reportings: 1. External Review on 2020 Social Bond reporting (March 2022) 2. External Review on 2021 Social Bond reporting (February 2023) Significant Limited Obstruction Obstruction Significant Contribution No Net Impact Limited Contribution 10 INDEPENDANT REVIEW Annual audit until full allocation of proceeds: Allocation of net proceeds to eligible expenditures • Compliance of expenditures financed by the proceeds with the eligibility criteria specified INVESTOR PRESENTATION JANUARY 2024 REVIEW SECTION 2020 Alignment with issuer's commitments set forth in the Framework Aligned Alignment with ICMA's "Harmonised Framework for Impact Reporting for Social Bonds" handbook Aligned Disclosure of proceeds allocation and Positive soundness of reporting indicators 2021 Unédic

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