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Green Finance

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Green Finance Framework

Use of Proceeds of Green Finance

Net proceeds from the green bonds or green loans will be used to fund the acquisition of specified assets that will meet the eligibility criteria in below (Green Eligible Assets) or refinance borrowings required for acquiring the Green Eligible Assets.

Eligible Criteria

Eligible Criteria are assets or projects that satisfy either of the following requirements.

▸a.The assets for which MEL has obtained or plans to obtain the following third-party certification

① 5-star, 4-star or 3-star DBJ Green Building Certification
② S rank, A rank or B+ rank in Certification for CASBEE for Real Estate
③ 5-star, 4-star or 3-star BELS Evaluation

▸b.Renewable energy generation facilities associated with buildings (limited to solar power generation facilities on the premises)

▸c.Equipment designed to reduce environmental impacts (limited to equipment that achieves 30% or higher energy efficiency before introduction)

Management of Proceeds

If there are unappropriated funds at the time of issuing green bonds or green loans, MEL will disclose an appropriation plan on its website. In addition, if the property for which the proceeds will be used will no longer be a subject of the use of proceeds due to its sale, MEL will disclose this in its press release and its website.
Upper limit of green finance procurement is calculated by total acquisition price of Eligible Green Projects multiple by total asset LTV.

Reporting

MEL will publish the allocation status of the proceeds from green financing on its website once every year. If there are unappropriated funds at the time of issuing green bonds or green loans, MEL will disclose an appropriation plan on its website. In addition, if the property for which the proceeds will be used will no longer be a subject of the use of proceeds due to its sale, MEL will disclose that the unused funds that arise temporarily will be managed by the portfolio management, the balance in its green financing and the maximum amount of green eligible liabilities in its press release.
Further, as long as there remains any outstanding balance in its green financing, MEL will disclose the following benchmarks on its website once every year.

▸Status of Green Building

For detailed information : Environmental Assessment and Certifications

▸Impact Reporting

・Water supply usage
・Total energy consumption (Electricity consumption and Gas fuel consumption)
・CO2 emissions
・Waste management
・Annual power generation of solar panels
・Details of equipment introduced as equipment aimed at reducing environmental load and energy saving effect

For detailed information : Environmental Performance Data

Amount of Procured Funds and Allocation

No. of Properties Amount
Total Properties 22 170,404 million yen
Total Green Eligible Assets 11 119,118 million yen
DBJ Green Building 1 5,770 million yen
CASBEE 9 112,076 million yen
BELS 9 99,678 million yen
Funds Procurement Date Repayment Date/
Redemption Date
Allocation Use of Initial Funds
Green Loan 1,350 million yen Mar. 9, 2021 Mar. 9, 2025 allocated Acquisition of Logicross Osaka
(additional acquisition of 40%)
and Logicross Naogya Kasadera
(additional acquisition of 40%)
Mar. 9, 2021 Mar. 9, 2025 allocated Acquisition of Logicross Osaka
(additional acquisition of 40%)
and Logicross Naogya Kasadera
(additional acquisition of 40%)
Green Loan 720 million yen Sept. 14, 2021 Sept. 14, 2028 allocated Aquisition of Logicross Fukuoka Hisayama, LOGIPORT Sagamihara, LOGIPORT Hashimoto and MJ Logipark Kazo 1 Sept. 14, 2021 Sept. 14, 2028 allocated Aquisition of Logicross Fukuoka Hisayama, LOGIPORT Sagamihara, LOGIPORT Hashimoto and MJ Logipark Kazo 1
Green Bond 2,000 million yen Apr. 14, 2021 Apr. 14, 2036 allocated Acquisition of Logicross Osaka
(additional acquisition of 40%)
and Logicross Naogya Kasadera
(additional acquisition of 40%)
Apr. 14, 2021 Apr. 14, 2036 allocated Acquisition of Logicross Osaka
(additional acquisition of 40%)
and Logicross Naogya Kasadera
(additional acquisition of 40%)
Total Green Finace 4,070 million yen
The Upper Limit of Green Finance 38,964 million yen

Evaluation by Third-Party Entities

MEL has obtained a Green 1(F) (highest for JCR Green Bond Evaluation) rating in preliminary evaluation for the competence of its Green Finance Framework from Japan Credit Rating Agency, Ltd. (JCR). Please refer to JCR’s website.

For detailed information : JCR Green Finance Framework Assessment

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