Kiwi Property announces Sustainable Debt programme

Kiwi Property today launched a Sustainable Debt programme, the latest initiative in the Company's comprehensive carbon reduction strategy. "Kiwi Property has been committed to sustainability for almost two decades and today it's part of the company's DNA. In 2020 we successfully achieved a 50% reduction in greenhouse gas emissions, compared to our 2012 baseline and we're proud to have been awarded an A rating by the Carbon Disclosure Project," says Chief Financial Officer, Gavin Parker. "By decreasing our resource consumption, investing in the prosperity of our communities and ensuring the resilience of our assets, we not only encourage the long-term performance of our property portfolio, we also drive sustainable returns for our investors," says Parker. Details of Kiwi Property's approach to the use of Sustainable Debt are outlined in the Company's new Sustainable Debt Framework which has been developed in line with applicable green and sustainability-linked finance standards, including the ICMA Green Bond Principles [Note 1], with assistance from ANZ, as sustainable debt coordinator, and EY, as independent limited assurance provider. The Framework outlines the governance framework which will apply to Sustainable Debt issued by Kiwi Property, including the Company's existing NZX-listed bonds (KPG010, KPG020, KPG030, and KPG040), which will be designated as Green Bonds from 31 March 2021. An amount equal to the proceeds from the issuance of Green Bonds or Loans will be allocated to finance or refinance qualifying planned and/or existing low carbon buildings. Kiwi Property also released to NZX a copy of its Sustainable Debt Framework, the Use of Proceeds Report and EY's Assurance Statement today. For more information about Kiwi Property's commitment to sustainability visit: https://www.kiwiproperty.com/corporate/sustainability/ ENDS Notes: 1. For further information on the Green Bond Principles, visit: www.icmagroup.org/sustainable-finance/the-principles-guidelines-and-handbooks /green-bond-principles-gbp/ Contact us for further information: Campbell Hodgetts Communications and Investor Relations Lead campbell.hodgetts@kp.co.nz; +64 27 5634985 About us: Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We've been around for over 25 years and proudly own, and manage a significant real estate portfolio, comprising some of New Zealand's best mixed-use, retail and office buildings. Our objective is to provide investors with a reliable investment in New Zealand property through the ownership and active management of a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi Property an issuer credit rating of BBB (stable) and an issue credit rating of BBB+ for each of its fixed rate senior secured bonds. Kiwi Property is the highest rated New Zealand company within CDP (Carbon Disclosure Project) and is a member of FTSE4 Good, a series of benchmark and tradable indices for ESG (Environmental, Social and Governance) investors. Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz End CA:00369986 For:KPG Type:GENERAL Time:2021-03-31 08:30:41