Pine Finance 2025-1: 18 April 2025

The Issuer will make payments on the Notes and the Issuer Loan from payments of principal and interest received by the Issuer under the Loan. On the Closing Date, the Issuer shall acquire from Citibank NA London Branch (as the "Original Lender") a £115,700,000 interest in the Loan (being 100% of the principal amount of the Loan on the Loan Utilisation Date).

The Loan is secured by, among other things, a first ranking mortgage over the property known as Aldgate Tower, located at 2 Leman Street, London El 8FA.

Aldgate Tower Sàrl (the Borrower) is controlled by Brookfield Property Partners LP (10%) and China Life Insurance Company Limited (90%) and is effectively a re-financing of ELOC 38.

UK & EU Risk Retention: Citibank NA London Branch to retain a material net economic interest in the securitisation.

Compare/contrast: European Loan Conduit No. 38 (VIRIDIS)