Leasetotta No. 1 Plc

The source of funds for the payment of principal and interest on the Instruments will be the right of
the Issuer to receive distributions in respect of certain securitisation units issued by LeaseTotta No.1
FTC, a Portuguese securitisation fund established under the laws of the Portuguese Republic. The
Fund will make payments of distributions in respect of the Units from interest and principal collections
which the Fund will be entitled to receive from a portfolio of Portuguese real estate leases, asset
leases and long term rental contracts sold to it by the originator Totta - Crédito Especializado,
Instituição Financeira de Crédito, S.A.

Totta – Crédito Especializado, Instituição Financeira de Crédito, S.A. (Totta IFIC) was originally created
under the name of Sottoleasing – Sociedade de Locação Financeira and in 2003, the entity adopted
Totta IFIC as its official name. Santander Totta SGPS, S.A. a full owned subsidiary of Grupo Santander
is the main Totta IFIC shareholder. Totta IFIC’s core business is centred around Real Estate Leasing,
Corporate Leasing, Lease of Vehicles, Long Term Rental Contracts (LTR Contracts), Financing of
goods and services acquisitions, Factoring and Confirming Services.

The asset lease contracts, the real estate lease contracts and the long term rental contracts are all
originated through the branch network of Banco Santander Totta, S.A. (parent company of Totta IFIC),
as a result of direct contact with the clients and such contracts are then prepared at the branch level
by the branch staff.

The 40,032 receivables in the pool can be split into three distinct products: monetary obligations arising
under asset lease contracts (8,876 contracts – 5.46% of outstanding balances); real estate lease
contracts (6,665 contracts – 48.39% of outstanding balances); and under long term rental contracts
(24,491 contracts – 46.14%). The largest obligor with 51 contracts accounts for 1.05% of current bal-
ances, the top 5 obligors for 3.26%, and the top 10 obligors for 5.16%. The average outstanding princ-
ipal per contract is Eur36,779 and all contracts are at floating rates, referenced mainly to 3m Euribor
rates.

WA seasoning is 25.26mnths. The WA LTV (for the real estate lease contracts) is 65.64%. Regional
concentration (by outstanding balances): Lisboa 30.39%, Portalegre 20.05%, Braga 9.78%, and Aveiro
8.12%

Compare/contrast: Chaves Funding No. 5 Limited, LTR Finance No. 7, Hipototta No 9 Plc
Chaves Funding No. 5 Ltd LTR Finance No. 7 Hipototta No 9 Plc