GlobeNewswire Inc | Nov 1, 2021 09:30AM EDT

November 01, 2021

BOISE, Idaho, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), today announced the closing of its first $1 billion green bond. The net proceeds from the sale of Microns green issuances will be allocated to eligible projects that the company believes can substantively move priorities forward, including renewable energy, green buildings, energy efficiency, water management, pollution control and a circular economy. The bond offering aligns with the International Capital Market Associations Green Bond Principles.1

Microns green bond builds on our track record of aligning our financial and business strategy with our sustainability commitments, said David Zinsner, chief financial officer at Micron. The proceeds will be invested in improving the companys greenhouse gas performance, energy and water use and waste generation; and supporting opportunities in our supply chains and products.

The debt offering reflects Microns leadership in sustainable financing and follows the companys recent close of nearly $3.7 billion in sustainability-linked facilities in May 2021. The loans positioned the company as a top-five corporate sustainability-linked credit facility issuer in the U.S. Crdit Agricole Corporate and Investment Bank (CIB) served as the sustainability structuring agent for the credit facilities and green structuring advisor for the green bond.

Microns Green Bond Framework aligns with and builds on Microns efforts to incorporate sustainability into its finance strategy. Micron has committed to spend $1 billion by 2028 to meet the companys environmental targets: reduce greenhouse gas emission intensity by 75% between 2018 and 2030, achieve 75% water conservation and 95% waste diversion globally in 2030, and source 100% renewable energy across its U.S. manufacturing operations by the end of 2025.

In addition to the traditional banks involved in the green bond issuance process, several nationally recognized minority and women-owned firms also participated, including African American and women-owned Siebert Williams Shank & Co., LLC; women-owned R. Seelaus & Co., LLC.; service-disabled veteran-owned firm, Academy Securities, Inc.; and Hispanic-owned Samuel A. Ramirez & Company, Inc.

For more information, visit http://www.micron.com/sustainability.

About Micron Technology, Inc.

We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron and Crucial brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

2021 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

Micron Media Relations ContactErica PompenMicron Technology, Inc.+1 (408) 834-1873epompen@micron.com

Micron Investor Relations ContactFarhan Ahmad Micron Technology, Inc. +1 (408) 834-1927farhanahmad@micron.com

____________________________1 According to Sustainalytics, a company that rates the sustainability of listed companies based on their environmental, social and corporate governance performance. The second-party opinion is available on the Micron website: https://media-www.micron.com/-/media/client/global/documents/general/about/micron_green_bond_framework-spo.pdf?rev=abad78665cc448f5beaa647660435885