• S&P Global Ratings acquired Shades of Green (SoG) in December 2022. Our combined expertise on sustainability and commitment to robust analysis are reflected in several recent awards: External Assessment Provider of the Year from Environmental Finance, Largest External Reviewer in Number of Deals from Climate Bonds Initiative, and ESG Opinion Provider award from IFR. • Our teams are working together to deliver a common suite of SPO products expected to be released in the coming months. The Shades of Green methodology will be a core element of the integrated SPO methodology. Until the launch of the new integrated product suite, SoG and SPGR sustainable finance teams share best practice and expertise but continue to deliver their existing and separate suite of products. • During Q1 2023 S&P Global Ratings published 25 second party opinions (SPOs; 18 S&P Global Ratings and seven Shades of Green), 15 S&P Global Ratings ESG evaluations, three Shades of Green company assessments, and th