The Notes will be linked to the accomplishment of the following sustainability performance targets:

• reduce by 28% its direct and indirect CO2 emissions (Scope 1 and Scope 2 GHG Emissions)¹ compared to the 2024 baseline.
• reach a 20% share of suppliers, based on emissions related to purchased goods and services (Scope 3, Cat. 1)², having adopted science-based reduction targets (SBTs).

If both targets are met within 2028, the annual gross interest rate will remain unchanged until maturity of the Notes. If MAIRE fails to achieve one or both targets, the interest rate shall be increased by 0.25% p.a. for each target that is not met, starting from the year following the reference year, this being the financial year 2028 (maximum increase of 0.50%), under the terms and conditions described in the Prospectus.

¹Scope 1 refers to the GHG-emissions from MAIRE Group’s operations in project sites and Group’s offices, while Scope 2 are indirect GHG emissions from consumption of purchased electricity and heat used in the Group’s own operations. In 2024, at Group level, Scope 1 emissions amounted to 12,970 tonnes of CO2 equivalent (tCO2eq) and Scope 2 emissions amounted to 2,967 tCO2eq, for a total of 15,667 tCO2eq for Scope 1 and 2 combined.

²Scope 3 Cat. 1 refers to indirect CO2 emissions associated with goods and services purchased by MAIRE Group. In 2024, suppliers who had adopted science-based reduction targets (SBTs) represented 2% of the Group’s Scope 3 Cat. 1 emissions.

Below you can find the relevant documents regarding the issue of the bond: