Retiro Mortgage Securities: 01 April 2021

A stand-alone transaction, where the Issuer will make payments on the Notes using, among other funds, receipts of payments of principal and interest under Mortgage Lender Loan Notes advanced under a loan note facility deed dated on or about the Closing Date between, among others, the Mortgage Lenders, the Propcos, the Issuer and the Trustee between, among others, the Issuer as loan note subscriber and Formentera Debt Holdings DAC (the Wind Mortgage Lender), Menorca Debt Holdings DAC (the TAG Mortgage Lender), Spanish Residential Opportunities DAC (the Normandia Mortgage Lender) and Resdev Spanish Opportunities Debtco DAC (the Tambo Mortgage Lender).

Loans in respect of which the Wind Mortgage Lender is the owner were originated by Caja de Ahorros y Monte de Piedad de Madrid, Bankia, Caja de Ahorros de Valencia, Castellón y Alicante (Bancaja), Caixa D'Estalvis Laietana, Caja Insular de Ahorros de Canarias, Caja Ávila, Caja Rioja, or Caja Segovia to borrowers and secured over primarily residential properties and certain commercial or mixed properties located in Spain.

Loans or participations in loans in respect of which the TAG Mortgage Lender is the owner were originated by Deutsche Bank, S.A.E. or Deutsche Bank Credit, S.A.U. to borrowers and secured over primarily residential properties and certain commercial or mixed properties located in Spain.

Loans in respect of which the Normandia Mortgage Lender is the owner were originated by Banco Sabadell, S.A., Caja de Ahorros Del Mediterraneo (Banco Cam, S.A.), Banco Guipuzcoano S.A., Caja de Ahorros de Granada, Banco Mare Nostrum S.A, Banco Gallego S.A., or Caixa D'Estalvis Del Penedes to borrowers and secured over primarily residential properties and certain commercial or mixed properties located in Spain.

Loans in respect of which the Tambo Mortgage Lender is the owner were originated by Caja de Ahorros de Valencia, Castellón y Alicante (Bancaja); Caixa D'Estalvis Laietana, Caja Insular de Ahorros de Canarias, Caja de Ahorros y Monte de Piedad de Madrid, or Caja de Ahorros y Monte de Piedad de la Rioja to borrowers and secured over primarily residential properties and certain commercial or mixed properties located in Spain.

The proceeds of the Mortgage Lender Loan Notes will refinance and discharge the Mortgage Lenders' existing financial indebtedness. All the Funded Asset Level Loans are secured by Asset Level Security over Spanish real estate, including residential, commercial, development and rural land in Spain.

EU & UK Risk Retention: OCM Luxembourg OPPS X S.à r.l. (the Retention Holder) will retain, as an originator for the purposes of each of the Securitisation Regulations, on an on-going basis until the maturity of the Class A, Class B, Class C and the Class D Notes, a material net economic interest of not less than 5% in the securitisation in accordance with Article 6(1) of Regulation (EU) 2017/2402 and Article 6(1) of the EU Securitisation Regulation as implemented into UK law under the European Union (Withdrawal) Act 2018. As at the Closing Date, the Retained Interest will be comprised of the aggregate Principal Amount Outstanding of the Class E Notes as at the Closing Date in an amount sufficient to ensure that, through its economic interest and exposure, OCM Luxembourg Albarino S.à r.l. is retaining a net economic interest of at least 5% of the nominal value of the securitised exposures.