Whirlpool Corporation Issues Inaugural Sustainability Bond to Support Environmental and Social Initiatives

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Apr 29, 2021, 16:15 ET

BENTON HARBOR, Mich., April 29, 2021 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) announced today the completion of its $300 million 10-year inaugural Sustainability Bond with an interest coupon of 2.4% per annum. This transaction is in line with its newly introduced Sustainability Bond Framework. This milestone further advances Whirlpool Corporation's global sustainability strategy focusing on actions to drive positive environmental and social impacts.

"Over the course of our 110-year history, Whirlpool Corporation has remained committed to designing and building products that exceed our consumers' expectations while investing to care for our communities and the planet," said Jim Peters, chief financial officer of Whirlpool Corporation. "We're encouraged that there was such strong demand from investors and believe the issuance of the bond reflects on our core philosophy that sound corporate citizenship and environmental performance are good for business. We are proud to be a leader in our industry as we continue our constant pursuit of improving life at home."

Whirlpool Corporation's Sustainability Bond Framework facilitates the company's use of sustainable capital markets to finance eligible projects that align with its commitments. Sustainalytics, a leading ESG research, ratings and data firm, reviewed Whirlpool Corporation's Sustainability Bond Framework and provided a second party opinion which can be viewed here. Sustainalytics has confirmed that Whirlpool Corporation's Sustainability Bond Framework aligns with the Sustainability Bond Guidelines 2018, Green Bond Principles 2018, and Social Bond Principles 2020, published by the International Capital Market Association.

An amount equal to the bond proceeds will be used to finance projects within one or more of these categories:

Environmental Categories

1. Eco-efficient Products
2. Renewable Energy
3. Energy Efficiency
4.Green Buildings
5. Pollution Prevention and Control

Social Categories

6. Socioeconomic Advancement and Empowerment
7. Access to Basic Infrastructure

For a full list of commitments and further details on Whirlpool Corporation's Sustainability Bond Framework, please visit the website, whirlpoolcorp.com, in the "Investors" section.

This offering was made only by means of a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on Form S-3.

Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained by calling BNP Paribas Securities Corp. at 1 (800) 854-5674, BofA Securities Inc. at 1-800-294-1322, J.P. Morgan Securities LLC at 1-212-834-4533 or Wells Fargo Securities, LLC at 1-800-645-3751.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Sustainability Bonds or any other securities, nor shall there be any sale of the Sustainability Bonds in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Whirlpool Corporation
Whirlpool Corporation (NYSE: WHR) is the world's leading kitchen and laundry appliance company, with approximately $19 billion in annual sales, 78,000 employees and 57 manufacturing and technology research centers in 2020. The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and other major brand names in nearly every country throughout the world. Additional information about the company can be found at www.WhirlpoolCorp.com.

Forward-Looking statements:
This press release contains certain forward-looking statements that are not historical facts or current facts, including those related to use of an amount equal to bond proceeds for certain eligible project categories and future actions to drive environmental and social impacts. These forward-looking statements convey Whirlpool's current expectations or forecasts of future events. Forward-looking statements are generally identified through the inclusion of words such as "aim," "anticipate," "believe," "drive," "estimate," "expect," "focus," "goal," "intend," "may," "plan," "project," "strategy," "target" and "will" or similar statements or variations of such terms and other similar expressions. Forward-looking statements regarding Whirlpool involve known and unknown risks, uncertainties and other factors that may cause Whirlpool's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements in this press release. Certain of these risks and uncertainties are described in the "Risk Factors" section of Whirlpool's most recent annual report on Form 10-K and quarterly report on Form 10-Q. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this document. Whirlpool does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect the impact of events or circumstances that arise after the date the forward-looking statements were made.

SOURCE Whirlpool Corporation