Second-Party Opinion Download

Sustainalytics is of the opinion that the Geely Automobile Holdings Limited Sustainable Finance  Framework is credible and impactful and aligns with the  Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2021, Green Loan Principles 2021, and Social Loan Principles 2021. This assessment is based on the following:

USE OF PROCEEDS

The eligible categories or the use of proceeds– Clean Transportation, Green Buildings, Renewable Energy, Energy  Efficiency, Sustainable Water and Wastewater Management, Waste Management and Circular Economy, Pollution Prevention and Control, Making Lives Better - are aligned with those recognized by the Green Bond Principles, Social  Bond Principles, Green Loan Principles, and Social Loan Principles. Sustainalytics considers that investments in the eligible categories are expected to contribute to the development of low-carbon transportation, improve the environmental performance of the Company’s operations and advance the UN Sustainable Development Goals, specifically SDGs 4,6,7,8,9,11and 12.

PROJECT EVALUATION / SELECTION

Geely Auto Holdings Limited has established a Sustainable Finance Committee ("SFC”) composed of members from the Treasury, ESG, Accounting and other relevant departments. SFC is responsible for overseeing the process of selecting, evaluating and monitoring the eligible projects. Geely Automobile Holdings Limited has established processes of identifying, evaluating and managing material environmental and social risks associated with eligible projects, which are applicable to all allocation decisions made under the Framework. Sustainalytics considers these risk management systems to be adequate and the project selection process to be in line with market practice.

MANAGEMENT OF PROCEEDS

Geely Automobile Holdings Limited Sustainable Finance Committee will be responsible for the allocation of the proceeds and will track investment, expenditures and costs that are related to the eligible projects through internal reporting systems. Geely Automobile Holdings Limited commits to fully allocate net proceeds within 36 months of issuance. Pending allocation of the net proceeds may be temporarily held in cash or other liquid marketable instruments. Sustainalytics considers this to be in line with market practice.

REPORTING

Geely Automobile Holdings Limited intends to report on the allocation and impact of proceeds on its Sustainable Finance Report on an annual basis until full allocation. Allocation reporting may include the total amount of proceeds allocated and the balance of unallocated proceeds. In addition, Geely Automobile Holdings Limited is committed to reporting on relevant impact metrics. Sustainalytics views Geely Automobile Holdings Limited’s allocation and impact reporting as aligned with market practice.