Noble - Ukraine (ST Portion)

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The EBRD is considering financing business development of Noble Group Limited (the “Sponsor”) in Ukraine, which is driven by the Noble Group’s regional Pipeline Strategy, involving origination, storage, processing and trading of agricultural commodities. The Project’s transition impact will have both up-stream and downstream effects: 1. Demonstration effect to optimise operational standards of silos: working together with Ukrainian silo operators to improve operational efficiency by introducing international standards, best practices, risk management, and modern techniques. 2. Market expansion - integration of Ukrainian agro-processors in the global markets: NRU plans to invest in an oilseed crushing plant and port facilities in the medium-term, as existing facilities in Ukraine do not have the required capacity or quality standards to meet global demand. Such investments will help address current logistics bottlenecks by which the country is constrained, while strengthening Ukraine’s position as an agri-commodity exporter. Borrower: Noble Resources Ukraine LLC (“Noble Ukraine”) engages in the trading of agricultural commodities, originating grains and oilseeds in Ukraine for sale globally, as per Noble Group’s Global Pipeline Strategy. Sponsor: Noble Group Limited, Bermuda, is a global leading supply manager with five operational divisions: energy; agriculture; metals, minerals, ores; logistics; and corporate. USD 50 million revolving working capital facility and a USD 24 million long-term loan for capital expenditures. USD 158 million. The project is screened C/1 (under the EBRD’s 2003 Environmental Policy). The Bank's loan would support Noble Ukraine in its purchase, processing and storage of various locally-grown agricultural commodities such as wheat, barley, sunflower seed, rapeseed and maize. The Borrower’s operations are expected to result in minimal, if any, adverse future environmental or social impacts. The Bank's environmental due diligence, which is ongoing, will include a corporate environmental and social review of the Borrower’s practices and its ability to operate to applicable EU and national standards for environment and health safety; and national and ILO labour standards. If necessary, based on the results of due diligence an Environmental and Social Action Plan (ESAP) may be developed for Noble Ukraine to bring the facilities into line with Ukrainian and EU standards for environment, health and safety within an agreed timeframe. The Borrower will be required to comply with national and EU environmental, health, safety and labour standards and requirements, as well as provide the Bank with an annual environmental report, including updates on the ESAP if relevant. No further issues to raise. None. Noble Resources SA, Structured Finance Ave des Mousquines 4, CH 1005 Lausanne, Switzerland Tel : +41 21 331 0495