Vigeo Eiris, Second Party Opinion of the first Green bond issued by the Government of the Hong Kong Special Administrative Region (the “HKSAR”)

This green bond issuance will finance or refinance in full or in part, government projects with environmental benefits. As set out in the HKSAR Green Bond Framework, eligible categories of projects covers eight areas: (i) Renewable energy, (ii) Energy efficiency and conservation, (iii) Pollution prevention and control, (iv) Waste management and resource recovery, (v) Water and wastewater management, (vi) Nature Conservation/biodiversity, (vii) Clean transportation and (viii) Green buildings.