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Klabin Sustainability-Linked Bond Framework

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Klabin Sustainability-Linked Bond Framework Klabin Sustainability-Linked Bond Framework December 2020 Contents: 1. Introduction 2. Approach to Sustainability 3. Rationale for Issuance 4. Alignment with the Sustainability-Linked Bond Principles, 2020 4.1 Selection of KPIs 4.2 Calibration of Sustainability Performance Targets (SPTs) 4.3 Bond characteristics 4.4 Reporting 4.5 Verification 1. Introduction For over 121 years, Klabin has been part of the daily lives of millions of people by creating customized sustainable solutions for various industrial sectors, operating 18 plants in Brazil and one in Argentina. Klabin is Brazil’s largest producer and exporter of packaging paper, leading producer of cardboard, corrugated cardboard packaging and industrial bags in Brazil, and also the country’s only company to offer the market the finest solutions in hardwood (eucalyptus), softwood (pine) and fluff pulps. In order to contribute to the development of a sustainable economy and inspire final consumer choices, Klabin prioritizes the prosperity of the planet, generating value for its investors, employees and business partners. To put this commitment into practice, since 2016 Klabin is a voluntary supporter of the United Nations 17 Sustainable Development Goals (SDGs) and since 2019 aligned the company’s Sustainability strategy to the goals of the 2030 Agenda. In December 2020, Klabin has announced its official set of public targets, available on kods.klabin.com.br website. Klabin has been included in the Brazil’s B3 Corporate Sustainability Index (ISE) since 2015 and recently has been included in the Dow Jones Sustainability Indices World and Emerging Markets. The company has a strong performance in the WWF Environmental Paper Company Index with a 90.5% score and is also on the Leadership category in CDP’s programs Water Management, Climate Change, Forests and Supplier Engagement Rating. In 2020, it is also listed in the ranking of the best performances in emerging markets by Vigeo Eiris. Klabin is a Task Force on Climate-related Financial Disclosures (TCFD) supporter and it is gradually implementing its recommendations in order to provide secure and transparent information on climate risks and opportunities. In addition, Klabin joined the UN’s Business Ambition for 1.5°C – Our Only Future global campaign and committed to the Science Based Targets Initiative (SBTi) to set new emission reduction targets. The company is currently in the process of setting the SBTs. Klabin has devoted tremendous efforts to reduce the use of fossil fuels and, consequently, reduce GHG emissions into the atmosphere. In the last 15 years, we reduced the emission of CO2eq/t of product by 60%. Since 2004 all of our GHG emissions are audited and publicly available according to the Brazilian GHG Protocol parameters. Moreover, our CO2 balance is positive, that is, we capture more CO2 from the atmosphere through our forests than is emitted by our industrial operations. We have a balance of 4.7 million tons of CO2eq. With a focus on operational efficiency, care for people and for the environment, Klabin has been increasingly developing products from renewable, recyclable and biodegradable sources, fostering a circular economy model and actively participating in the construction of a sustainable consumption future. 2. Approach to Sustainability Klabin is a unique forestry company with a responsible management that is committed to sustainability. We work in collaboration with our clients and suppliers, always guided by innovation and the constant improvement of our products and processes. Together we foster the engagement and development of people and local communities to achieve increasingly better and sustainable results for the entire value chain. All of Klabin’s operations incorporate into their strategy environmental management aspects, such as water, energy, climate change and biodiversity. In this way, the company strengthens its commitment to preserve natural resources, such as by working to reduce the use of non-renewable resources, controlling environmental impacts, monitoring biodiversity and preserving fauna and flora in the forests where it operates. Since 2006, Klabin has been involved in the CDP’s global initiative, which facilitates dialogue between investors and companies seeking to minimize the environmental impacts of their business in light of climate change. In 2019, Klabin was also included on Leadership category for CDP’s Water Management, Climate Change, Forests and Supplier Engagement Rating. Such recognition places Klabin among the leading companies when it comes to transitioning to the new sustainable economy. Sustainability is an essential foundation to Klabin’s management, placed the core of its strategic decision- making. Thus, the company is strongly committed to The United Nations established 17 Sustainable Development Goals (SDGs), created to achieve shared prosperity and well-being of everyone by 2030. The SDGs prioritize issues such as climate change, life on Earth, industry, innovation and infrastructure, drinking water, reducing inequality and sustainable agriculture. With its operations focused on sustainable development – and internationally recognized for its best practices – Klabin directs its efforts to projects and initiatives capable of generating value across the entire chain, maintaining its commitment to all stakeholders. We are committed to contribute to the SDGs that are relevant to our business by leveraging our local agenda and Sustainability Strategy. Throughout 2019, we made progress in establishing our own Sustainability Agenda by devising Klabin’s Sustainable Development Goals (KODS), in line with the company’s expansion plan, its sustainability strategy and the UN’s 2030 Agenda (SDGs). The milestones and progress for the most urgent Environment, Social and Corporate Governance goals in the short-, medium- and long-terms are addressed by the KODS Agenda, which was devised based on consultations with thousands of stakeholders and internally discussed in workshops with representatives from several areas. Validated by Klabin’s Permanent Sustainability Commission and the Board of directors, the work gained strength with the development of the agenda’s governance proposal, and the respective set of 23 specific targets such as water and waste management, climate issues, biodiversity among others ESG themes has been recently announced (please refer to kods.klabin.com.br website). Water Management Water is one of the most important inputs for our processes, mainly in the production of paper and pulp. We seek continuous improvement in all processes, valuing the conservation of natural resources and fostering water reuse. One hundred percent of the effluents are treated at the Effluent Treatment Plants, before discharge to the water bodies. Treatment is monitored both internally and by a third party, in compliance with all legal requirements. The units periodically undergo internal and external audits to asset the Management System, including the Water and Effluent System. Klabin’s Environmental Management System is ISO 14001 certified and supported by the company's Sustainability Policy. Aspects such as water pollution, water security and water risks are considered in all operations, reaffirming the company's commitment to the conservation of natural resources, through the constant reduction of non-renewable resource use and control and mitigation of environmental impacts. These aspects are monitored by indicators, whose management has been consolidated in the Schneider Electric’s Resource Advisor platform, facilitating the traceability of information. In order to ensure future availability of the resource, Klabin measures 100% of water withdrawals of water stressed areas ensuring that there will be no withdraw of higher volumes than the source regenerative capacity. The frequency of monitoring is daily. Furthermore, estimates of future changes in water availability at local level of Klabin's units are assessed using scenario analysis provided by the WRI Aqueduct tool. Our goal is to keep water extraction below 105,000.00 E3M3/Year until 2022, following our good progress towards reducing specific water consumption in 45% since 2004. Klabin's specific water withdrawal intensity of 25.1 m3/t adhere to international best practices standards as those established by IFC/IPPC indicators1 (20 to 100 m3/t are considered adequate for pulp mills and 10 to 50 m3/t for paper mills), in order to determine maximum discharge and consumption limits. Furthermore, in 2019 Klabin started assessing the risks of its suppliers using the Ecovadis Platform in order to improve supply chain engagement towards sustainable development. We are committed to responsible water management in the supply chain. Over 72% of suppliers assessed by Ecovadis platform are engaged in water management initiatives. Among them, the wood suppliers participate of Klabin’s Legal Woods program, which promotes several activities related to this theme, not only for having theorical training but also for developing new practices of water resources conservation in the timber production. We participate in the Tibagi River Basin Committee, in Paraná; the Canoas River Basin Committee, in Santa Catarina; and the Piracicaba, Capivari and Jundiaí Rivers Hydrographic Basins Committee, in São Paulo. We also participate in other committees in the regions where our plants are located (Angatuba/SP and Goiana/PE). Company representatives actively engage in discussions on water use, water resource plans and the establishment
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