Antler Mortgage Funding 1 PLC: 19 November 2025

A standalone transaction, where the Issuer will make payments on the Notes from payments of principal and revenue received from a portfolio comprising residential owner-occupied loans, help to buy and buy-to-let loans which are secured over residential properties located in England, Wales and Scotland.

At the cut-off date (31 July 2025) the pool consisted of 14,573 mortgage accounts (in 19,592 loan parts) where the average current balance is £171,010 and the largest is £1.908mln. Occupancy Type: Owner-occupied – 98.17%, BTL – 1.83%. Loan Purpose (Loan parts level): purchase – 78.94%, re-mortgage – 15.76%, other – 5.30%. Repayment Method: repayment – 95.07%, interest only – 3.30%, P&P – 1.63%. Interest Rate Type (Loan parts level): fixed – 90.46%, floating – 9.54%. Arrears: > 1month (% balance) – 30.97%, > 3months – 23.23%. The WA CLTV is 78.32%, indexed CLTV 72.20% ( original LTV was 84.01%) and the WA seasoning is 43.73 months (loan parts). Additional information: Self-employed – 13.05%, First Time Buyer – 48.16%. Geographic distribution: South East – 17.32%, London – 12.21%, East of England – 11.96% and the North West – 11.66%.

Significant Investors: On the Closing Date, the Lead Manager expects to place 100% of the Class A1 Notes with National Westminster Bank plc.

UK and EU Risk Retention: On the Closing Date, National Westminster Bank plc (the "Retention Holder") as "originator" will retain on an ongoing basis a material net economic interest of not less than 5% in the securitisation in accordance with (i) Article 6 of Chapter 2 together with Chapter 4 of the PRA Securitisation Rules and (ii) Article 6(1) of the EU Securitisation Regulation. As at the Closing Date, such interest will be comprised of certain randomly selected exposures held on the balance sheet of the Retention Holder.

US Risk Retention: National Westminster Bank plc, as the sponsor under the US Risk Retention Rules, 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 intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: The Notes are not intended to be designated as a UK STS Securitisation or a EU STS Securitisation for the purposes of the UK Securitisation Framework or the EU Securitisation Regulation.

Compare/contrast: Polaris 2025-3 plc, Hadrian Funding 2025-1 plc