PRE-ISSUANCE VERIFICATION LETTER

Sustainalytics verified that BTS Group Holdings PCL's green bond meets the Climate Bonds Standard Version 2.1 for Low Carbon Transport. The bond is intended to finance and refinance electric mass transportation and related infrastructure in Bangkok, specifically the Pink and Yellow monorail lines. The verification process confirmed that the nominated projects meet the required technical criteria and that BTSG has established internal processes for tracking and managing proceeds.

• Sustainalytics concluded that BTS Group Holdings PCL's green bond is in conformance with the Low Carbon Transport Criteria of the Climate Bond Standard Pre-Issuance Requirements.

APA

Climate Bonds Initiative (2019). PRE-ISSUANCE VERIFICATION LETTER. https://www.climatebonds.net/files/drupal-files/files/BTS%20Group%20Pre%20Issuance%20Verification%20Report%20public.pdf

Chicago

Climate Bonds Initiative. PRE-ISSUANCE VERIFICATION LETTER. 2019. https://www.climatebonds.net/files/drupal-files/files/BTS%20Group%20Pre%20Issuance%20Verification%20Report%20public.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=PRE-ISSUANCE VERIFICATION LETTER |date=2019 |url=https://www.climatebonds.net/files/drupal-files/files/BTS%20Group%20Pre%20Issuance%20Verification%20Report%20public.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019preissuance, author = {{Climate Bonds Initiative}}, title = {{PRE-ISSUANCE VERIFICATION LETTER}}, institution = {Climate Bonds Initiative}, year = {2019}, url = {https://www.climatebonds.net/files/drupal-files/files/BTS%20Group%20Pre%20Issuance%20Verification%20Report%20public.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }