Exmoor Funding 2025-1 PLC: 12 July 2025

A stand-alone transaction, where the Issuer will make payments on the Notes from payments of principal and revenue received from a portfolio comprising first ranking mortgage loans and secured over residential properties located in England, Wales and Scotland and sold by the Seller to the Issuer on the Closing Date.

The Provisional Portfolio at the cut-off date (30 April 2025) consisted of 1,053 first-ranking owner-occupied mortgage loans, where the average current balance per loan is £179,327. Repayment type: Standard Interest-only – 56.81%, Retirement Interest-only – 28.52% and Standard Repayment – 14.67%. Interest type: fixed rate with compulsory switch to floating – 85.76%, fixed – 14.24%. Additional information: Pensioner borrowers – 27.13%. The WA current Indexed LTV is 47.94% (original LTV was 49.23%) and the WA seasoning is 6.1 months. Regional concentration: outer South East – 17.58%, Greater London – 15.61%, East Anglia – 12.55% and the North West – 10.57%.

UK & EU Risk Retention: The Seller will, as originator for the purposes of (i) the UK Securitisation Regulation and (ii) the EU Securitisation Regulation, retain on an ongoing basis a material net economic interest of not less than 5% in the securitisation at the Closing Date. Such interest will be satisfied by the Seller holding no less than 5% of the nominal value of each Class of Notes (other than the Class X Notes).

US Risk Retention: The Seller does not intend to retain at least 5% of the credit risk of the securitised assets for purposes of compliance with the final rules promulgated under Section 15G of the Securities Exchange Act of 1934, but rather it intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: On or about the Closing Date, it is intended that a notification will be submitted to the FCA by the Seller, as originator, confirming that the requirements of Articles 18-22 of the UK Securitisation Regulation have been satisfied with respect to the Notes.

Compare/contrast: Exmoor Funding 2024-1 plc, Hadrian Funding 2025-1 plc, Bletchley Park Funding 2025-1 plc