Bell Announces Closing of Sustainability Linked Loan

Support our commitment to environmental, social and governance leadership

montreal, November 9, 2022 /PR Newswire/ – Bell Canada (Bell) is today an existing $3.5 billion Committed a credit facility to convert to a Sustainability Linked Loan (SLL). SLL highlights Bell’s continued commitment to environmental, social and governance (ESG) leadership and our purpose to advance the way Canadians connect with each other and the world. The SLL follows the announcement of BCE’s Sustainable Financing Framework. April 2021 and Bell’s inauguration $500 million Providing Sustainability Bonds May 2021 Earnings allocated to qualifying green and social investments.

This amendment builds on Bell’s performance of two key annual Sustainability Performance Targets (SPTs) related to Bell’s science-based greenhouse gas (GHG) targets endorsed by the Science Based Targets initiative: Introduce annual price adjustments that increase or decrease borrowing costs.¹ (SBTi):

• Reduce absolute Scope 1 and 2 GHG emissions by 57% by 2030 from our 2020 base year.When
• Set a science-based target to reach 64% of our suppliers by 2026 in the cost of covering goods and services purchased.

Bell chose these two goals. This is because it collectively covers most of Bell’s total carbon footprint. By linking performance with financing costs, the annual SPT supports our commitment to meeting science-based targets for GHG emission reductions and supplier engagement.

“We are delighted to announce the closing of this Sustainability Linked Loan. We are in agreement.”

– Glen LeBlancChief Financial Officer and Vice Chairman, Atlantic Canada

Bell’s environmental leadership includes reducing the environmental impact of initiatives throughout the value chain. Our commitment to energy management and reducing our carbon footprint aligns with our strategic mission to engage and invest in our people and create a sustainable future.

Bell’s ESG strategy complements our financial performance by working at the intersection of environmental, economic and social systems to create long-term value for business and society.

TD Securities (TD) acted as SLL’s sustainability structuring agent.

Environmental, social and governance performance
Bell’s ESG goals create social and environmental benefits by helping build a better world, better communities and better workplaces. Our approach strengthens our environmental leadership, creates a workplace focused on diversity, equality, inclusion and employee well-being, leads mental health through Bell Let’s Talk, and provides best-in-class governance. The focus is on proving.

In 2022, Bell has maintained its ISO 50001 certification for energy management systems for the third consecutive year. This is after becoming the first North American telecommunications company to achieve Energy Management System designation and being named the inaugural Greenhouse Gas (GHG) Reduction Champion. clean 50, National Sustainability Organization. announced the goal of carbon neutral Launched in 2025 and recognized as one of them. Canada’s Greenest Employer 6 years in a row.

Information about Bell’s environmental initiatives and the benefits they provide to customers, teams and communities, including Bell for Better Investing in mental health, the environment and workplace leadership is our Corporate Responsibility Report. Bell’s ESG goals are also published in the BCE 2021 Annual Report for shareholders available at BCE.ca.

A copy of BCE’s Sustainable Financing Framework and more information on our Sustainability Strategy can be found at BCE.ca.

About Bell
Bell is Canada’s largest telecommunications company, providing advanced broadband wireless, television, Internet, media and business communications services nationwide. Founded in Montreal in 1880, Bell is wholly owned by BCE Inc. For more information, please visit: Bell.ca Also BCE.ca.

finished Bell for Better, invests to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities through our commitment to the highest environmental, social and governance (ESG) standards. This includes the Bell Let’s Talk initiative, which promotes mental health in Canada with national awareness and anti-stigma campaigns like Bell Let’s Talk Day, and Bell’s commitment to community care and access, research, and workplace leadership initiatives across the country. Includes significant funding. For more information, please visit the following URL: Bell.ca/LetsTalk.

Cautionary Note Regarding Forward-Looking Statements
Certain statements made in this news release refer to ESG initiatives, including, but not limited to, targets to achieve carbon neutral operations by 2025 and to meet science-based targets and annual SPTs for GHG emissions. Forward-looking statements, including statements of purpose and commitments. Reductions and supplier engagement, our business goals, plans and strategic priorities, and other statements that are not historical facts. All such forward-looking statements are made in accordance with applicable Canadian securities laws and the US “safe harbor” provisions. Private Securities Litigation Reform Act of 1995Forward-looking statements are subject to inherent risks and uncertainties and are based on several assumptions that could cause actual results or events to differ materially from our expectations. These statements are not guarantees of future performance or events. You are cautioned not to rely on these forward-looking statements. The forward-looking statements contained in this news release state our expectations as of the date of this news release and, therefore, are subject to change after that date. We undertake no obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Our ESG objectives and commitments and the expected benefits therefrom are at risk and therefore our ESG objectives and commitments will be met or the expected benefits will be realized There is no guarantee that. In addition, forward-looking statements beyond 2022 involve assumptions and estimates that are longer-term than forward-looking statements in 2022 and are therefore subject to greater uncertainties. In particular, our GHG emission reduction targets are based on a number of assumptions, including but not limited to the following key assumptions: Implementation enablers for various corporate and business initiatives to reduce power and fuel consumption and other direct and indirect GHG emissions; new corporate initiatives that significantly increase projected levels of GHG emissions; , business acquisitions, or lack of technology. Ability to purchase sufficient credible carbon credits and renewable energy certificates to offset or further reduce GHG emissions, if required. Improvements or changes to international standards, or the methodology used to calculate such GHG emissions, will not adversely affect our calculation of GHG emissions. There is no need to change science-based targets in accordance with the Science-Based Targets Initiative methodology, which makes it more difficult to achieve updated science-based targets. Full engagement and cooperation in setting the supplier’s own science-based targets, and full cooperation with partners to reduce their own GHG emissions. Please refer to BCE Inc.’s (BCE) 2021 Annual MD&A Date for additional information regarding the assumptions and risks underlying certain forward-looking statements made in this news release. March 3, 2022BCE Q1 2022 MD&A date May 4, 2022BCE Q2 2022 MD&A date August 3, 2022BCE Q3 2022 MD&A date November 2, 2022and the date of the BCE news release November 3, 2022 Announce financial results for the third quarter of 2022. It has been filed by BCE with the Canadian Provincial Securities Regulators (available at Sedar.com) and the US Securities and Exchange Commission (available at SEC.gov). These documents are also available at BCE.ca.

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