Taurus 2025-3 UK DAC: 17 July 2025

The Issuer will make payments on the Notes and the Issuer Loan from payments of principal and interest received by the Issuer under a loan advanced by the Loan Seller to the Borrower pursuant to the Facility Agreement. On the Closing Date, the Issuer will acquire a 100% interest in the Loan.

Payments under the Loan due to the Issuer will, after payment of certain senior ranking costs and expenses, be allocated to the Notes and to the Issuer Loan. The Loan will be secured by, among other things, a portfolio of logistics and industrial properties, and a retail park, located throughout the United Kingdom.

The Portfolio comprises 14 logistics properties and 1 retail park property. As at the Cut-Off Date, the properties offer approximately 2.9m sqft of total lettable area, and are let to 47 unique tenants at an occupancy level of 95.1% with a weighted average lease term to break of 4.3 years and to expiry of 7.3 years.

The Portfolio is geographically diversified across the United Kingdom, with a significant concentration in the Midlands (48% of GLA, 42.5% of the Market Value and 37% of GRI) the South East (18% GLA, 32.2% MV, 36% GRI) and the North West (34% GLA, 25.3% MV, 26% GRI).

UK, EU & US Risk Retention: Bank of America NA London Branch (the Retaining Sponsor) will, pursuant to the Issuer Loan Agreement, advance a sterling denominated loan to the Issuer on the Closing Date. As at the Closing Date, the principal amount of the Issuer Loan will be equal to £14,050,000, being equal to not less than 5% of the sum of (i) the aggregate Principal Amount Outstanding of the Notes and (ii) the principal amount of the Issuer Loan on the Closing Date.

Compare/contrast: Taurus 2025-2 UK DAC, UK Logistics 2025-1