Second-Party Opinion Download

USE OF PROCEEDS

The eligible category for the use of proceeds – Renewable Energy – is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that investments in the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDG 7.

PROJECT EVALUATION AND SELECTION

CEC-R’s Green Bond Committee (the “Committee”) will evaluate, select and monitor eligible projects. The Board Committee consists of the Chief Financial Officer, Chief Legal Counsel, Chief Projects Officer, Senior Manager HSES & Risk and Head Corporate Communications. CEC-R has internal processes to address environmental and social risks associated with the eligible assets. Sustainalytics considers these processes to be in line with market practice.

MANAGEMENT OF PROCEEDS

The Executive Committee of CEC-’s Board and the Accountant of CEC-R will be responsible for the management and allocation of proceeds to eligible projects through an internal tracking system. The Company will allocate the net proceeds at the time of issuance. Pending allocation, proceeds will be temporarily held in bank deposits. This is in line with market practice.

REPORTING

CEC-R commits to report on the allocation of proceeds on Copperbelt Energy Corporation PLC’s website on an annual basis. The allocation report will include the total amount of proceeds allocated to eligible assets, the balance of unallocated proceeds, the share of financing versus refinancing and, where relevant, the breakdown per type of eligible assets. In addition, CEC-R is committed to reporting on relevant impact metrics. Sustainalytics views CEC-R’s allocation and impact reporting commitments as aligned with market practice