Mecenate 3 S.r.l

The proceeds of the issue of the notes will be applied by the Issuer to fund the purchase of a
portfolio of residential mortgage loans which qualify either as mutui fondiari or as mutui ipotecari
owed to Banca Etruria with the principal source of funds available to the Issuer for the payment
of interest and the repayment of principal on the Notes will be collections received in respect of
the claims.

This will be the third RMBS transaction from the originator (they have also issued a leasing sec-
uritization), and on this occasion the rated notes and the junior notes will be subscribed by Banca
Etruria Società Cooperativa.

The provisional portfolio consists of 6023 mortgage loans extended to 5920 customers of the orig-
inator. Each mortgage loan is performing, meaning that at least one installment has fallen due and
has been timely paid, and all are denominated in Euros. Variable loans account for 49.78% of prin-
cipal aggregrate balances, and fixed rate mortgages for the balance. The average loan size is
Euro85,876 and the largest loan in the pool is for Eur1.712mln. There are 42 loans in the pool with
an outstanding of greater than Eur500,000, representing 6.21% of outstandings.

WA current LTV 46.47% (there are 115 loans with a current LTV of greater than 80%, accounting
for 2.71% of current outstanding balances). WA seasoning is 28.82mnths. Regional concentration
(by principal outstanding): Toscana 50.78%, Lazio 27.85%, Umbria 7.32%, and Marche 6.93%.

Compare/contrast: Mecenate 2 S.r.l, Mecenate Leasing, BPL Mortgages (2008) S.r.l
Mecenate 2 S.r.l Mecenate Leasing BPL Mortgages (2008)