Aqua Finance No. 3 Ltd.

The source of funds for the payment of principal and interest on the Notes will be the right of the
Issuer to receive payments in respect of receivables arising under consumer and asset finance
loan agreements, financial lease agreements and long term rental agreements originated by Fini-
crédito - Instituição Financeira de Crédito, S.A..

Finicrédito is a credit institution supervised by the Bank of Portugal and was incorporated in 1992,
as the consumer finance vehicle of Finindustria, SA. In 2008, Finicrédito accounted for 3.6 % of
the consumer credit granted in the market according to ASFAC, the consumer finance trade ass-
ociation. Total assets reached Eur340mln as of Dec-2008, versus Eur337mln a year earlier.

The portfolio consists of : secured consumer loans primarily to individuals and small-sized enter-
prises for the purchase of automobiles, motorcycles or household appliances; vehicle and equip-
ment finance leases primarily to small and medium-sized enterprises; and long term rental agree-
ments for the long term rental of new (or in a limited number of cases, used) vehicles and equip-
ment to individuals and small and medium-sized enterprises.

The pool consists of 41,767 agreements (38,978 loans, 2,089 leases, and 700 LTRs) with an
average current balance of Eur5,530 (originally Eur7,409), and the largest agreement being for
Eur644,825. There are currently only 13 agreements of greater than Eur55,000, representing just
0.79% of the aggregate current balance. Individuals account for 39,619 agreements, representing
89.28% of agg current balances. New cars account for 5,344 agreements (20.69% agg current
balances), and used cars for 20,634 agreements (79.31% agg current balances). The majority of
the agreements were awarded at fixed rates of interest (39,543 agreements – 89.41% agg current
balances), and also all are serviced monthly.

WA seasoning is 17mnths. Regional concentration (by aggregate current balances): Minho e Douro
Litoral 31.16%, Estremadura e Ribatejo 25.63%, and Beira Litoral 22.64%

The Class A Notes are intended to be held in a manner which will allow Eurosystem eligibility.

Compare/contrast: Aqua Finance No. 2 Ltd, Aqua Mortgage, Leasetotta No. 1 Plc
Aqua Finance No. 2 Ltd. Aqua Mortgage Leasetotta No. 1 Plc