MORhomes PLC was created for the housing sector by the housing sector to help increase the supply of desperately needed affordable homes in the UK. Social and environmental impact sits at the core of our aims and ethos. The proceeds of MORhomes bonds are on-lent to housing associations which means they are always used for sustainable or social purposes. As at 31 March 2023, MORhomes had £472m of Social Bonds and £47m of Sustainable Bonds in issue. MORhomes is constituted as a PLC and our shares are owned by 67 major not-for-profit UK housing associations 1 . Its public debt is traded on the London Stock Exchange. All MORhomes borrowers are housing associations; not for profit, social enterprises envisioning a world in which everyone can live in a good quality home they can afford. They are delivering ambitious programmes which will deliver lasting social and environmental benefits. Social and sustainable impact has been at the core of MORhomes since its inception. From our launch, all MORhomes bonds were issued as Social Bonds in accordance with the ICMA Social Bond Principles 20185. In November 2021, we went one step further and issued our first Sustainability Bond. We were early adopters of the SRS (Sustainability Reporting Standards for Social Housing) and in 2021 we launched our innovative Sustainable Housing Assessment (SHA). More details about this can be found in Section 3 – Sustainability Progress. In 2020, MORhomes was awarded ‘Social Bond of the Year’ by Environmental Finance. Our bond was described as ‘pioneering’ as it was the first sector bond to be priced under a social framework.