Second-Party Opinion Download

Sustainalytics is of the opinion that the View Green Finance Framework is credible and impactful and aligns with the intent of the four core components of the Green Bond Principles 2018. This assessment is based on the following:

USE OF PROCEEDS

View will use the proceeds of its green bond(s) and Private Investment in Public Equity (PIPE) issuance program to finance Energy Efficiency projects, a category for the use of proceeds aligned with the Green Bond Principles 2018. Sustainalytics considers that the eligible category will lead to positive environmental impacts and advance the UN Sustainable Development Goals, specifically SDGs 7 and 11.

PROJECT EVALUATION/SELECTION

View's Treasury Department comprised of members from the Manufacturing, Treasury, and Legal teams will be in charge of selecting Eligible Projects. Every Eligible Project will be subject to an internal evaluation process and ultimately approved by View's Treasurer. Sustainalytics considers the project selection process in line with market practice.

MANAGEMENT OF PROCEEDS

View’s Treasury Department will be responsible for the disbursement of net proceeds to Eligible Projects. Proceeds will be allocated within a three-year period after the issuance of each bond. Pending allocation, funds may be held in cash, cash equivalents and/or U.S. government securities or used to repay corporate debt. This is in line with market practice.

REPORTING

View commits to share with investors an allocation and impact report commencing one year after issuance and to be renewed annually thereafter until the full allocation for each green bond and PIPE. The report will include: (i) allocated amount on Eligible Projects; (ii) outstanding amount of net proceeds yet to be allocated; (iii) qualitative and quantitative key performance indicators (KPIs) for Eligible Projects; and (iv) an assertation by management that the net proceeds of the green bond were allocated to qualifying Eligible Projects and managed accordingly. Sustainalytics considers View's allocation and impact reporting as aligned with market practice.