Elvet Mortgages 2026-1 Plc: 29 January 2026

A standalone transaction and the seventh public issuance from originator Atom Bank, where the Issuer will make payments on the Notes from payments of principal and revenue received from a portfolio comprising mortgage loans and their related security sold to the Issuer on the Closing Date. The Issuer confirms that the assets backing the issue of the Notes and the Notes themselves are not part of a re-securitisation.

As at the Portfolio Reference Date (31 October 2025) the Provisional Portfolio was comprised of 2,144 loans originated by the Seller and secured over properties located in England, Wales and Scotland. The average current balance is £179,624 and the largest is for £969,051. Occupancy type: owner-occupied – 100.0%. Amortisation type (by current balances): Repayment – 100.0%. Interest Rate type: Fixed rate mortgages reverting to SVR – 100.00%. Additional information: a full property valuation accounts for 55.84% of current balances; Self-employed borrowers account for 9.88%; First time buyers account for 36.32%. The WA current LTV is 74.94% (original LTV was 79.80%) and the WA seasoning is 28.64 months. Regional concentration: Scotland – 15.22%, the South East – 14.58%, London – 10.51% and the South West – 9.04%.

Significant Investor: Atom Bank will, on the Closing Date, purchase all of the Class B Notes.

UK & EU Risk Retention: On the Closing Date Atom Bank, as an originator for the purposes of the UK Securitisation Regulation and the EU Securitisation Regulation, will undertake that for so long as any Notes remain outstanding it will retain a material net economic interest of not less than 5% in the nominal value of the securitisation.

US Risk Retention: Atom Bank does not intend to retain at least 5% of the "credit risk" of the "securitized assets" for the purposes of the US Risk Retention Rules, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS (UK): It is intended that the transaction qualifies as a STS securitisation within the meaning of Regulation 3(1) of the Securitisation Regulations 2024 (SI 2024/102) and a notification will be submitted by Atom Bank to the Financial Conduct Authority promptly on or after the Closing Date.

Compare/contrast: Elvet 2025-1, Meridian Funding 2025-1 plc, Tower Bridge Funding 2026-1