Bastion 2025-1 NHG B.V.: 03 May 2025

The issuer will make payments on the Notes from payments of principal and interest received from a portfolio comprising mortgage loans originated by the Originator and secured over residential properties located in the Netherlands. The Mortgage Loans were originated by MeDirect Bank and are distributed by a network of intermediaries, which mainly comprises of mortgage consultancy service associations and independent financial advisers.

At the cut-off date (31 March 2025) the portfolio consists of 3,530 Dutch residential borrowers (in 6,217 loan parts) all with an NHG guarantee. The average principal balance per borrower is Eur216,997 and the largest is for Eur438,049. Redemption type (by current balances): annuity – 89.4%, interest-only – 6.4% and linear – 4.2%. Interest rate type: Fixed – 100.00%. The WA LTMV is 81.35%, the WA LTFV is 95.26% and the WA seasoning is 2.83 years. Regional concentration: Noord Brabant – 19.5%, Zuid Holland – 16.8%, Gelderland – 11.9% and Noord Holland – 10.0%.

EU & UK Risk Retention: MeDirect Bank, as originator within the meaning of Article 2(3) of the Securitisation Regulation, has undertaken in the Notes Purchase Agreement to retain, on an ongoing basis, a material net economic interest of not less than 5% in the securitisation transaction as described in the Prospectus in accordance with Article 6(1) of the Securitisation Regulation (the "EU Retention Requirements") and in accordance with the FCA Handbook and Article 6 of Chapter 2 of the PRA Rulebook.

US Risk Retention: Neither MeDirect Bank nor any other party intends to retain at least 5% of the credit risk of the securitised assets within the meaning of, and for purposes of compliance with, the US Risk Retention Rules, but rather intend to rely on an exemption provided for in section 20 of the US Risk Retention Rules regarding non-US transactions that meet certain requirements.

STS: The transaction is intended to qualify as a STS securitisation within the meaning of Article 18 of the Securitisation Regulation. Consequently, on the date of the Prospectus, the transaction described therein meets the requirements of Articles 19 to 22 of the Securitisation Regulation and, at the Closing Date, has been notified by the Seller to be included in the list published by ESMA referred to in Article 27(5) of the Securitisation Regulation.

Compare/contrast: Bastion 2022-1 NHG BV, Domi 2025-1 BV, Jubilee Place 7 BV