(b) one third (1/3) of the Maximum-Linked Redemption Premium (rounded down to two decimals) for each KPI where the Issuer meets the Sustainability Performance Target for such KPI on the Target Observation Date, provided that the Issuer no later than 15 days after the Target Observation Date publishes a Sustainability Performance Action Plan Review confirming that the Sustainability Performance Action Plan with respect to such KPI is viable and achievable as per the Target Observation Date. The Maximum Sustainability-Linked Redemption Premium is 0.50 percent. Target Observation Date means thirty days prior to (a) 21 June 2024 or (b) such earlier date when the Bonds are redeemed in full. Sustainability Performance Action Plan means a plan setting out the means by which the Issuer intents to achieve its targets reducing by 2025 (a) CO2 emissions (relating to KPI 1) by 9.00 percent, (b) SO2 emissions (related to KPI 2) by 15.00 percent, and (c) water withdrawal (relating to KPI 3) by 10.00 percent in each case compared to 2019, and as further described in the Sustainability-Linked Bond Framework. The complete plan will not be made public but will be subjected to review by the External Reviewer (DNV GL) in accordance with the Sustainability Performance Action Plan Review. The review will be conducted on the latest available version of the Sustainability Performance Action Plan at the time, recognizing that the Sustainability Performance Action Plan will be updated as and when necessary. Sustainability-Linked Bond Framework means the framework adopted in June 2021 establishing the Group’s KPI’s and Sustainability Performance Targets in line with ICMA (International Capital Markets Association) Sustainability-Linked Bond Principles. The issuer may redeem all, but not only some, of the outstanding bonds in full: (i) any time from and including 21 June 2021 to, but excluding, the first call date at an amount per bond equal to 103.425 percent of the nominal amount plus any applicable Sustainability-Linked Redemption Premium and the remaining interest payments, but excluding, the first call date (date falling after18 months after 21 June 2021), up to and including the first call date together with accrued but unpaid Interest; (ii) any time from and including first call date (date falling after18 months after 21 June 2021) to, but excluding, the first business day falling 24 months after 21 June 2021 at an amount per bond equal to 103.425 percent of the nominal amount plus any applicable Sustainability-Linked Redemption Premium, together with accrued but unpaid Interest; (iii) any time from and including the first business day falling 24 months after 21 June 2021 to, but excluding, the first business day falling 30 months after 21 June 2021 at an amount per bond equal to 102.055 percent of the nominal amount plus any applicable Sustainability-Linked Redemption Premium, together with accrued but unpaid Interest; (iv) any time from and including the first business day falling 30 months after 21 June 2021 to, but excluding, the first business day falling 33 months after 21 June 2021 at an amount per bond equal to 100.685 percent of the nominal amount plus any applicable Sustainability -Linked Redemption Premium, together with accrued but unpaid Interest; v. any time from and including the first business day falling 33 months after 21 June 2021 to, but excluding, 21 June 2024 at an amount per bond equal to 100.000 percent of the nominal amount plus any applicable SustainabilityLinked Redemption Premium, together with accrued but unpaid Interest; Redemption shall be made by the Issuer giving not less than fifteen business days’ notice to the Bondholders ant the Agent. Upon the occurrence of a change of control event or a delisting event, each bondholder shall have the right to request that all, or some only, of its bonds be repurchased at a price per bond equal to 101 percent of the nominal amount together with accrued but unpaid Interest, during a period of sixty days following a notice from the Issuer of the change of control event or delisting event. The bond loan agreement is based on a negative pledge and the group can only to a limited extent pledge its assets to secure its other liabilities. The Senior Secured Floating Rate Bond of 5 April 2019, with nominal amount of total 56.5 mEUR was settled by early redemption on 8 July 2021. Call option premium for early redemption amounted to 1 314 kEUR. The bond loan agreement is available at: https://www.fiven. com/company-information/investor-relations/reports/ Un-secured shareholder loan The un-secured shareholder loan was repaid in full on 6 December 2022 Fiven Annual Report 2022 Financial statements 95
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