GS Mortgage Backed Securities Trust 2026 IRRP1: 14 May 2026

The Issuer will make payments on the Notes and the VRR Loan from, among other things, payments of principal and revenue on a portfolio of mortgage loans secured over mainly residential properties located in Ireland, and unsecured loans.

In this instance “unsecured loan” means a loan which represents residual debt owed by a Borrower in circumstances where the underlying property collateral has been sold as at the Cut-off Date and where such loan is cross-collateralised with a secured mortgage loan.

The Mortgage Loans were originated by: (a) Portfolio 1 - Ulster Bank Ireland DAC, Ulster Bank Limited and First Active plc (formerly First National Building Society); (b) Portfolio 2 - KBC Bank; (c) Portfolio 3 - KBC Bank Ireland Public Limited Company, Premier Homeloans Limited, IIB Finance Designated Activity Company, Bank of Scotland plc, Bank of Scotland (Ireland) Limited and Halifax; (d) Portfolio 4 - the Governor and Company of the Bank of Ireland, Bank of Ireland Mortgage Bank Unlimited Company and ICS Building Society; and (e) Portfolio 5 - Ulster Bank Ireland DAC, First National Building Society and First Active plc.

At the cut-off date, the portfolio consisted of 3,667 loans where the average current mortgage loan balance was €125,366 and the largest was €2,482,866. Occupancy Type: owner-occupied – 91.38, BTL – 5.54% and SME – 3.08%. Repayment Method: Capital & Interest – 88.18%, Interest Only 8.83%, others – 2.99%. Interest Rate Type: variable – 89.13%, fixed – 10.87%. Restructure : Yes – 70.26% (2,613 loans), No – 29.74% (1,054 loans). Restructure Type: Arrears Capitalisation – 34.57%, Term Extension – 20.18%, Reduced NMI – 19.48%, other – 25.77%. Arrears: >12 months – 16.27%. The WA seasoning is 18.9 years.

Additional information: The Mortgage Portfolio, as at the Cut-off Date, contained 68 Commercial Mortgage Loans with a principal outstanding balance of €14,172,293.37. The Mortgage Portfolio, as at the Cut-off Date, contained 36 Unsecured Loans with a principal outstanding balance of €8,452,793.

EU and UK Risk Retention: Goldman Sachs International Bank (the Retention Holder) will retain, on an ongoing basis, as an originator within the meaning of the UK Securitisation Framework and the EU Securitisation Regulation, a material net economic interest of at least 5% in the securitisation by providing the VRR Loan, which has a principal value equal to not less than 5% of the aggregate principal amount of each tranche of Notes sold or transferred to investors.

US Risk Retention: Goldman Sachs International, as “sponsor” for the purposes of the US Risk Retention Rules, intends to comply with the credit risk retention requirements under section 15G of the Securities Exchange Act of 1934 by providing the VRR Loan.

Compare/contrast: Aran Funding 2025-1 DAC, Kinbane 2025-RPL 2 DAC, Mulcair Securities No.4 DAC