Funding

Euro commercial paper programme (ECP)

Enexis Holding N.V. has established an ECP programme in december 2016, with the following features:

• Issuer: Enexis Holding N.V.
• Maximum size: EUR 1 Billion
• Arranger: Rabobank
• Dealers: BNP Paribas, ING, NatWest Markets, Rabobank
• Issuing and Paying Agent: Citigroup Inc.

(Green) financing

Bonds

Green Financing

Enexis has drawn up a 'Green Finance Framework' that serves as a framework for monitoring the sustainability quality of eligible green assets when issuing green financing instruments. ISS ESG has carried out a Second Party Opinion (SPO) for the framework.

Issue of outstanding green bonds

In June 2020, Enexis Holding N.V. issued her debut green bond for an amount of EUR 500 million and in April 2021 the second green bond was issued for an amount of EUR 500 million. Both green bonds were drawn under the existing EMTN program and are included in the overview of all outstanding drawings under this program.

PUBLICATION GREEN BOND IMPACT & ALLOCATION REPORT

In June 2021 Enexis published its first Green Bond Impact & Allocation report. This report provides insight in which activities are financed using the green bonds issued by Enexis Holding N.V. in June 2020 and April 2021 and the environmental impact of these investments.

Convertible shareholder loan

July & November 2020 - Convertible Hybrid Shareholder Loan

In two tranches Enexis Holding N.V. issued a 60-year convertible hybrid shareholder loan for a total amount of EUR 500 million. The interest for tranche A and B until the first interest revision date of November 29, 2030 is 2,15% and 1,40% respectively. The loan is subordinated to all other Enexis debts. Enexis has the right to convert the loan into shares if Enexis' credit rating falls or threatens to fall below the A (Standard & Poors) or A2 (Moody) level. Furthermore, Enexis has the option to repay the loan on November 29, 2030 and every ten years thereafter. S&P has assigned intermediate equity credit to the loan.