Celepsa obtains US$100 million sustainability-linked loan The Bank of Nova Scotia and Bci

• Our renewable energy goals were a determining factor in our eligibility for this loan.

The energy generation and commercialization company Celepsa, a UNACEM Group company, has closed a loan agreement linked to sustainability with The Bank of Nova Scotia (BNS) and Banco de Crédito e Inversiones (Bci). The amount amounts to US$100 million, with financing granted for a term of three years, from 2024 to 2027.

This type of loan is a financial instrument in which the terms, such as the interest rate, are adjusted according to the borrower's performance on predefined sustainability metrics. These loans are based on the Loan Market Association's (LMA) Sustainability-Linked Lending Principles, which establish the borrowers' commitment to future improvements in their sustainability performance within a specified time frame.

The sustainability metrics defined for the loan respond to globally recognized materiality criteria, such as the Sustainability Accounting Standard (SASB) materiality maps for the Electric Utilities & Power Generators sector and Morgan Stanley Capital International (MSCI) for the Independent Power Producers & Energy Traders sector.

The particular includes future investments in the development of a 700 MW renewable energy pipeline and maturity goals in Occupational Health and Safety, which will be implemented through its corporate Life First program.

In addition, the company received a second opinion from Valora Consultores, which validated compliance with the Sustainability Lending Principles and the sustainability commitments assumed for the loan.

"The renewable energy promotion portion of the sustainability-linked loan will contribute to a transition to a low-carbon economy. We are proud that our sustainability efforts are being recognized in the marketplace. This agreement reflects our dedication to continuous improvement in environmental, social and governance areas," said Eduardo Rivas, Celepsa's general manager.
The company remains committed to sustainable development and the implementation of specific projects that contribute to a responsible and safe energy transition for the future.

The Bank of Nova Scotia (BNS) acted as Joint Lead Arranger, Joint Bookrunner, Co-Sustainability Structuring Agent and Eligible Hedging Counterparty.

Bci Miami acted as Joint Lead Arranger and Joint Bookrunner; Bci Chile as Co-Sustainability Agent and Co-Structuring Agent, and Bci Peru as Co-Structuring Agent and Eligible Hedging Counterparty.

About Scotiabank  
Scotiabank's vision is to be our customers' most trusted financial partner in achieving sustainable, profitable growth and maximizing total shareholder return. Guided by our purpose, "for our future," we help our customers, their families and their communities succeed through a full range of advice, products and services in personal and commercial banking, wealth management, private, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2024), Scotiabank is listed on the Toronto Stock Exchange (TSX: BNS) and the New York Stock Exchange (NYSE: BNS). For more information, visit www.scotiabank.com and follow us on X @Scotiabank.

About Bci
Bci has more than 85 years of experience in the financial industry and total assets of more than $91 billion, making it the largest bank in Chile and the eighth largest in Latin America. Assets include operations in the United States, where its subsidiary City National Bank of Florida (CNB) is the second largest local bank in the state of Florida, and in Peru, where it operates a banking license since 2022. Bci is present in the individual and corporate segment with banking products, access to financing and wealth management, among others.

About Celepsa
Celepsa is a company of the UNACEM Group, dedicated to the commercialization and generation of clean energy and energy and sustainable solutions, which has the purpose "We convert energy into solutions that generate confidence, enhance value and radiate sustainability. Together, we grow to build a sustainable world". It began operations in 2010 and has two hydroelectric power plants with state-of-the-art technology in its portfolio, El Platanal and Marañón; as well as a natural gas thermal power plant acquired in 2023, Santo Domingo de los Olleros, an electricity generator with two generation cycles located in Chilca, Cañete. With origins in Peru and international projection, Celepsa promotes a reliable and sustainable energy transition to contribute to a carbon neutral future.