Second-Party Opinion Download

Sustainalytics is of the opinion that LaSalle LOGIPORT REIT’s (LLR) Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018 (GBP). This assessment is based on the following:

USE OF PROCEEDS

The eligible categories for the use of proceeds - (i) Green Buildings and (ii) Energy Efficiency - are aligned with those recognized by the GBP. Sustainalytics considers that the eligible projects will lead to positive environmental impacts and advance the UN Sustainable Development Goals (SDG) 7 and 9.

PROJECT EVALUATION/SELECTION

LLR’s eligible projects are evaluated and selected based on the Eligibility Criteria by its asset management company, LaSalle REIT Advisors K.K.’s (LRA) President and Chief Executive Officer (CEO), and Investment Committee comprised of its President and CEO, Chief Investment Officer (CIO), Chief Financial Officer (CFO), Chief Compliance Officer, and an external real estate appraiser, in accordance with the delegation of authority. The process is aligned with market practice.

MANAGEMENT OF PROCEEDS

LRA’s Finance Department will manage proceeds through a portfolio approach using an internal file. Net proceeds of the green bonds will be allocated shortly after issuance. Pending full allocation, the unallocated proceeds will be held in cash or cash equivalents. The process is aligned with market practice.

REPORTING

LLR intends to report annually on the allocation of the proceeds until full allocation, and on the environmental impact until the maturity of the relevant green bonds. Allocation reporting will include the amount of allocated and unallocated proceeds, schedule of allocation, managing method of the proceeds, the book value and debt of the eligible projects, as well as the outstanding amount of the green bonds. The impact reporting will include relevant impact metrics per eligibility criteria. Sustainalytics’ views LLR’s allocation and impact reporting to be aligned with market practice.