Commerzbank ESG Presentation 25 March 2026 Commerzbank, Group Investor Relations, Frankfurt 1 Content Commerzbank ESG Presentation 25 March 2026 Commerzbank, Group Investor Relations, Frankfurt 2 1. Sustainability approach 2. Environment 3. Social 4. Governance 5. Client business sustainability 6. Additional information: ESG framework / links / contacts Sustainability approach 25 March 2026 Commerzbank, Group Investor Relations, Frankfurt 3 Sustainability has been an integral part of our corporate strategy ...

Core Viewpoint - India's state-run lenders are preparing for a new round of green bond issuances, with Bank of Baroda recently issuing a ₹10,000 crore, seven-year green infrastructure bond at a yield of 7.10% [8][9] Group 1: Market Activity - Bank of Baroda's bond issuance was notable as it was priced at a spread of approximately 40 basis points over the benchmark 10-year government bond yield, which was around 6.72% at the time [5][9] - Other public sector lenders, including Union Bank of India and State Bank of India, are also planning to raise significant amounts, with Union Bank looking to issue ₹10,000 crore and SBI around ₹7,500 crore [8][9] - Several borrowers have withdrawn planned bond sales due to rising yields influenced by global market volatility, indicating a cautious approach among investors [9] Group 2: Investor Behavior - Life Insurance Corporation (LIC) and the Employees' Provident Fund Organisation (EPFO) fully subscribed to Bank of Baroda's bond issue and are expected to participate in upcoming issuances from Union Bank and SBI [9] - There is a noted limited appetite among investors for long-tenor bonds, as many companies find bank loans more attractive this year [6][9] - The current market conditions have led to a thin supply of corporate bonds, with unusual investment behavior observed, such as LIC and EPFO investing at 7.10% for seven years when similar yields are available for shorter maturities [6][9] Group 3: Regulatory and Strategic Insights - India currently lacks regulatory obligations for institutions to allocate funds specifically to green issuances, which may affect the attractiveness of such bonds [7][9] - There are indications that the government may be encouraging public sector institutions to support PSU bank bonds, although this could impact the returns for retail investors [7][9]

Core Viewpoint - Scatec ASA is planning to issue a NOK 1,250 million senior unsecured green bond with a maturity of 4.25 years, subject to market conditions [1]. Group 1: Green Bond Issuance - Scatec has mandated Arctic Securities, DNB Carnegie, Nordea, and SB1 Markets to arrange investor meetings starting on November 4, 2025 [1]. - The net proceeds from the green bond will be used for repaying outstanding corporate debt and for general corporate purposes as outlined in the Green Financing Framework [2]. Group 2: Company Overview - Scatec ASA is a prominent renewable energy solutions provider focused on enhancing access to reliable and affordable clean energy in emerging markets [2]. - The company has 6.2 GW of renewable energy capacity in operation and under construction across five continents [2]. - Scatec is headquartered in Oslo, Norway, and is listed on the Oslo Stock Exchange under the ticker symbol 'SCATC' [2].

Core Insights - Reykjavík Energy has published its Green Finance Impact Report for 2024, which has been audited and certified by independent auditors [1] - The report details the allocation of green loan proceeds amounting to ISK 31.3 billion in 2024 [1] Company Developments - Since leading green financing in Iceland in 2019, Reykjavík Energy has secured more favorable financing terms and is now the largest issuer of green bonds in the country [2] - The company's established reputation in green financing is expected to support its future ambitious projects in energy production, utility operations, and carbon sequestration [2]