‘Second Opinion’ on Balder ’s Green Financing Framework 8 The reporting will also include a disclosure of asset level performance indicators. The reporting will strive to disclose the impact based on the green financing share of the total investment. For financed e ligible g reen a ssets that are not yet operational, Balder will strive to provide estimates of future performa nce levels. Balder will emphasise energy savings and greenhouse gas reductions as the most relevant performance metrics for most projects. If/when actual impact for some reason is not observable, or unreasonably difficult to source, estimated impact shall be reported. The metrics below are examples of indicators that are likely to be used by Balder in the forthcoming r eporting. • Environmental certification • Primary Energy Demand (PED) compared to the requirement in the national implementation of NZEB • Existi ng buildings that qualify according to an Energy Performance Certificate (EPC): the level of the EPC • Existing buildings that qualify based on Primary Energy Demand (PED): confirm that the PED was within acceptable limits of the national or regional buildi ng stock (top 15%) • Energy consumption ( mostly landlord or property energy) by absolute consumption (kWh) and intensity (kWh/ m 2 ) per year • Calculated carbon footprint disclosed by absolute emissions (tonnes) and intensity (kg CO 2 /m 2 ) per year . Independent experts are helping Balder in its reporting of greenhouse gas emissions, both overall (scope 1, 2 and 3, including embodied emission s) and from green assets. The methodology used will be published. The external auditor of Balder, or a similar party appointed by Balder with the relevant expertise and experience, will investigate and report whether an amount equal to the net proceeds hav e been allocated to the eligible green assets that Balder has communicated in the reporting. The conclusions will be provided in a signed statement, which will be published on Balder’s website. Impact reporting will not be independently verified.