Singapore Telecommunications : Singtel Optus prices A$300m 7-year Sustainability-Linked Bond at 2.60%

Aligns the Group's financing strategy with sustainability principles

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Singapore, 18 November 2021 - Singtel today announced that its wholly-owned subsidiary, Optus, through its wholly-owned subsidiary, Optus Finance, has priced an A$300 million 7-year fixed-rate Sustainability-Linked Bond (SLB), which will be issued on 24 November 2021. The SLB is guaranteed by Optus and certain subsidiaries and is launched under Olives, Singtel's sustainability financing programme.

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The SLB will carry a coupon of 2.60% per annum and will mature on 24 November 2028. The SLB has been issued in accordance with the new Singtel Group Sustainability-Linked Bond framework that was established on 14 October 2021. Optus is committing to a stated target of reducing its absolute greenhouse gas emissions by 25% (Scope 1 and 2 in tCO2e) by 2025, compared to a 2015 baseline. This is in line with its goal to meet the Singtel Group's SBTi-approved 2030 targets of a 42% reduction compared to the 2015 baseline.

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The coupon rate of the SLB will be subject to a step-up margin of 0.25% per annum from the interest period commencing 24 November 2025 if the stated target is not met. The SLB is issued under Optus Finance A$ Debt Issuance Programme. Optus will utilise the funds for general corporate purposes.

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Mr Arthur Lang, Singtel Group Chief Financial Officer, said, "We are pleased to be the first telco in Asia Pacific region to issue an SLB. There has been strong demand for Optus' inaugural SLB issuance from the investor community and we are highly encouraged that our efforts to link financing to sustainability has been well received."

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"We are pleased to be the first telco in Asia Pacific region to issue an SLB. There has been strong demand for Optus' inaugural SLB issuance from the investor community and we are highly encouraged that our efforts to link financing to sustainability has been well received."

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Arthur Lang,
Group Chief Financial Officer
Singtel

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Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia and Westpac Banking Corporation acted as Joint Sustainability Co-ordinators, Lead Managers and Bookrunners.

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Notes

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This announcement is not an offer for sale of securities. The information provided in this communication is factual only and does not constitute financial product advice.

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NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO U.S. PERSONS.

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This announcement is not an offer for sale of securities in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.

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