Impact and Allocation Report

This Impact and Allocation Report is being released in relation to the revised Framework of March 2022 under which 1,190 million euros debt was raised throughout 2022 and includes an additional impact analysis of WDP’s Green Financing issuances under this Framework. The proceeds will be used to finance Eligible green projects in the category’s green buildings, renewable energy, energy efficiency, and clean transportation as defined in WDP’s Green Finance Framework.

In March 2022, WDP completed a third transaction with Metlife Investment Management by raising 100 million euros in green private placement notes with a 12-year duration.

In May 2022, WDP completed a 500 million green bond issuance via the US Private Placement market. The green bond has a maturity of 10 years (May 2032) and the effective interest rate for WDP amounts to 1.52% (including the pre-hedge put in place).

WDP obtained a new financing package of 150 million with the European Bank of Reconstruction and Development (EBRD), that encompasses a corporate loan with a weighted average duration of 8.5 years. The proceeds will be used to finance newbuild development projects at important logistics hubs across Romania.

In November 2022, WDP successfully placed a 440 million euros syndicated loan facility with a consortium of international banks (which was drawn as from 13 January 2023). The effective fixed interest rate for the company on the 7-year bullet loan maturing in 2030 is 1.5% (including the pre-hedging instrument put in place at the start of the year).

These partnerships are a clear example of WDP’s sustainable funding strategy: securing long-term diversified and green financing that solidifies our robust credit profile. WDP has taken up a firm commitment to maximize its green financing efforts by 2025 and is convinced that sustainable growth is based on diversification of funding and green financing.

Mickael Van den Hauwe, CFO

1.1

Allocation reporting

In accordance with the criteria set out in the Framework, WDP’s Eligible Green portfolio comprises of 72 eligible green certified buildings with fair value of € 1.74bn and solar panels with a fair value of € 163m per 31 December 2022.

Indicators marked with an have been reviewed by Deloitte Bedrijfsrevisoren as part of a limited assurance engagement for 2022.

Impact reporting

Renewable Energy

Post-issuance review

WDP has engaged an independent external auditor (Deloitte) to provide a limited assurance on selected KPI’s (marked with “ ” above) of the Allocation Reporting, confirming that an amount equal to the proceeds of outstanding Green Financing Instruments has been allocated in compliance with the Eligibility Criteria and objectives of the Green Financing Framework.

Statement of the auditor

“Based on our work as described in the limited assurance report, nothing has come to our attention that causes us to believe that the abovementioned Selected Information as included in section “Impact and Allocation Report ” of the Green Financing Impact Report of Warehouses De Pauw NV, has not been prepared, in all material respects, in accordance with the Applicable Criteria.”

The limited assurance report will be made publicly available on the Investor Relations section of WDP’s corporate website, under Debt information.