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Second Party Opinion: AESC Group (Methodology of Shades of Green, formerly part of CICERO)

This report was produced by Shades of Green. On December 1, 2022, S&P Global acquired Shades of Green from CICERO.

AESC Group is a supplier of lithium-ion battery cells for global automakers and energy storage system (“ESS”) integrators. The financing under AESC Group’s Green Finance Framework will be used to finance or refinance the construction or expansion of battery manufacturing plants (“gigafactories”) that will mostly serve light passenger electric vehicles and ESS applications.