Getlink : Green Finance Framework – October 2021

October

2021

Green Finance Framework

GETLINK SE

Introduction

Getlink is a leader in eco-responsible transport and infrastructure solutions, and a major player in the European transportation sector engaged in three main activities:

• Eurotunnel: Concessionaire of the cross-Channel Fixed Link till 2086
• Europorte: rail freight operator
• ElecLink: France / UK electricity interconnector

The Eurotunnel enjoys a unique position in Europe, conveying circ. 25% of UK-EU trade in an environmentally friendly mode of transportation.

Getlink group is fully committed to sustainable development, and to contribute to the sustainable mobility. Based on its experience and green credentials known as its green DNA since its creation, the Group puts together its renewed ambition within its Environment Plan 2025. This short-term strategy is broken into 3 pillars and relies on a detailed action plan to achieve these objectives:

1. Pillar 1 - Energy and climate transition: Contribute to the 2°C trajectory of the Paris Agreement throughout the Group's value chain
2. Pillar 2 - Preservation of natural environments: Sustainable management of resources and control of impacts on natural environments
3. Pillar 3 - Waste management and the circular economy: Controlling waste and promoting the circular economy throughout the Group's ecosystem

The detailed Environment Plan 2025 plan is available on Getlink web site here: https://www.getlinkgroup.com/en/our-commitments/csr/environmental-responsibility/

As far as Pillar 1 is concerned, the Group has been striving "by nature and by actions" for continuous reductions of CO2 emissions. By enabling trains to use the Tunnel, Getlink is contributing to the shift from short-haul air travel to rail, helping to save an estimated 2 million tonnes of CO2 annually compared to other travelling modes1. ElecLink, through its installation of the 1GW direct current interconnector between France and the UK via the tunnel, will help reduce significantly the CO2 emissions related to the power mix in UK and in the EU, whilst minimising the adverse impact to marine and terrestrial life.

Eurotunnel reduced its carbon footprint by 33% between 2012 and 2019. In 2019, it was awarded its sixth consecutive certification from the UK's Carbon Trust Standard. The optimization of the Truck Shuttle loading procedures has enabled Eurotunnel to increase the average number of trucks loaded onto each Shuttle and thus generate electricity savings by reducing the number of Truck Shuttle trips. The reduction in unintentional halon releases has helped Eurotunnel to reduce the associated emissions by 62% between 2012 and 2019. The Group further reduced its greenhouse gas emissions by 18% between 2018 and 2019 notably due to the implementation of a Blue for Business contract, which guarantees zero-carbon electricity in the United Kingdom.

Now, engaged in its new science-based carbon reduction trajectory, the Group aims at reducing by 30% its direct emissions by 2030. Since Getlink wants to embark its whole value chain, indirect

1 Based on 2019 figures for all GetLink activities.

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emissions related to Purchasing are also planned to be significantly reduced thanks to various initiatives the Group is setting up.

More widely, and since inception, Getlink has adopted a social responsibility policy that seeks to reconcile financial performance, social equity and environmental protection all within a framework of continuous improvement. As a signatory of the UN Global Compact, the Group communicates annually on its CSR best practices within a "Communication on Progress" (COP) report. At the heart of our business operations and interactions with our stakeholders lies our CSR responsibilities, and we are committed to ensure that our investment decisions are aligned to what we strongly believe in.

Getlink has based its CSR policy on an understanding of the Group's material challenges. From 2015 onward Getlink has prepared a materiality analysis to identify and rank the group's material challenges, based on its business activities and its stakeholders' expectations. In 2019 mindful of a constantly changing environment and rapid changes to internal and external stakeholder expectations, the Group updated its materiality analysis. Among other challenges, this enabled the group to identify CSR issues like the energy transition and the fight against climate change, the preservation of natural environment, the waste management and the circular economy.

A detailed description of the 23 material challenges identified is available on Getlink web site:

https://www.getlinkgroup.com/en/our-commitments/csr/csr-principles/

as well as at section 6.2.2 of Getlink SE's Universal Registration Document for 2020.

The Group has updated its stakeholder mapping in 2020 based on a wide internal consultation of its executive officers and managers. Engaging in a constructive dialogue with all its stakeholders will enable to feed the CSR strategy of the Group on the regular basis completing what was already done in the field of procurement where compliance to environment and CSR criteria defined by the Group are included in the selection process of suppliers.

Fully conscious of the global challenges of sustainable development, Getlink is committed to ensuring that its growth is achieved in accordance with its precepts, in conjunction with the 17 Sustainable Development Goals of the United Nations. In 2020, Getlink selected 10 Sustainable Development Goals (SDGs), which are the most relevant to its business model, its activities and its material challenge. In terms of environment, these include, in particular, affordable and clean energy, industry innovation and infrastructure, responsible consumption and production, climate action.

This green finance framework ('the Framework') is developed in alignment with International Capital Markets Association's (ICMA) Green Bond Principles 2018 and Loan Market Association's (LMA) Green Loan Principles 2018. The present framework replaces Getlink's previous Green Bonds Framework dated October 2018. Getlink intends to update the Green Finance Framework periodically at its sole discretion to reflect developments in the best practices of the Green Bond and Loan Markets.

In 2020, the EU put in place a new framework known as the EU Taxonomy to identify activities with substantial contribution to several environmental objectives. Getlink activities are concerned by two of them (Climate mitigation and climate adaptation). For Corporates such as Getlink, disclosure and

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evidence for the ratio of aligned activities will happen early in 2022. Nevertheless, at this stage, given the technical criteria retained, it is confirmed that the operation of an electrical railway infrastructure as well as the operation of an electrical cable to support connection between the UE and the UK are aligned activities.

Use of Proceeds

Getlink will apply 100% of the net proceeds from the Green issuance to finance or to finance or re- finance, in part or in full, new and/or existing green assets ("Eligible Green Assets") falling within one of the eligible categories detailed below.

• Clean Transportation;
• Energy Efficiency; and
• Pollution Prevention and Control.

Clean Transportation:

Transportation is an important driver of economic growth as it brings about the interconnectedness of people, goods and information. While transportation has paved new grounds for high levels of development, it is also a significant contributor to global warming through the emission of greenhouse gases. Clean transportation can thus spur economic growth while at the same time minimise the damage done to our environment, and as such as been recognized as significantly contributing to the Climate under the EU taxonomy.

Green Assets under this Eligible Investment category may include development, construction, acquisition, installation, operation and upgrades of:

• Energy efficient transport (e.g. running on alternative fuels such as electric, biofuel, hybrid);
• Infrastructure for public transport and clean transport (e.g. tunnels and rail freight transportation that contribute to the shift to low-carbon transportation, dedicated parking lots and charging facilities for electric vehicles etc.);
• Non-dieselrolling stock; and
• Multimodal transport systems.

Energy Efficiency:

Energy efficiency minimises the use of fossil fuels and hence reduces the amount of greenhouse gases emitted.

Green Assets under this Eligible Investment category may include development, construction, acquisition, installation, operation and upgrades of:

• Infrastructure improvement and development (e.g. LED lighting, insulation of walls and roofs, efficient heating, ventilation and air conditioning, leakage detection systems, refrigeration units etc.);
• Smart grid installation;
• Cross-borderelectrical interconnector (ElecLink); and

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• Energy recovery technology and high-voltage power transmission investments for more efficient transmission.

Pollution Prevention and Control:

As the world gets increasingly urbanised, proper waste management becomes particularly important. Recycling serves as a locally available means of reducing greenhouse gases for us by recapturing rather than discarding materials used to produce products.

Eligible Green Assets under this category may include the installation, construction and development of:

• Recycling facilities, systems and equipment;
• Alternative to the use of gas highly emissive and detrimental to the ozone layer
• Environmentally friendly air conditioning systems (increasing efficiency of power usage and using organic refrigerants that have little/no adverse effect on the environment)
• Alternative to Refractory Ceramic Fibers

Process for Project Evaluation and Selection

Getlink has established a cross-departmental Green Finance Committee (GFC) that has strengthened its overall governance framework and oversee the Green Finance Framework.

The GFC is chaired by the CFO and includes the Group Environment Director as well as members from the following departments across the organisation:

• Finance
• Legal
• Investor Relations
• and other functional departments (as required).

The role of the GFC is to:

• Review, select and validate the pool of Eligible Green Assets based on the Green Finance Framework;
• Validate annual reporting for investors; and
• Monitor on-going evolution related to the green bond market practices in terms of disclosure/reporting in order to be in-line with best market practices.

The selected investments will be added to the list of Eligible Investments that may receive Green Finance proceeds.

The list of Eligible Green Assets will be recorded in our internal accounting systems. Green finance issuance will also be documented in this system. At any time of the lifetime of the Green finance instruments, the outstanding amount of Green finance instruments will not exceed the value of Eligible Green Assets.

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