Fastnet Securities 20 DAC: 23 May 2026

Another stand-alone transaction via the Fastnet name, where the Issuer will make payments on the Notes from payments of principal and revenue on a portfolio comprising mortgage loans originated by Permanent TSB plc and secured over residential properties located in Ireland.

At the cut-off date (31 January 2026) the portfolio consists of 8,859 owner-occupied repayment loans, secured on 8,651 properties, with an average current loan balance per property of Eur232,026 and a largest current loan of Eur1.804mln. Loan Purpose: Purchase – 79.58%, Re-mortgage – 20.18% and Equity Release 0.24%. Interest rate type: Fixed – 89.93%, variable – 10.07%. The WA indexed LTV is 56.57% (OLTV was 72.53%) and the WA seasoning is 39.03 months. Regional concentration (by total balances): Dublin - 45.03%, Cork - 11.20% and Kildare - 7.47%.

Significant Investor: Permanent TSB will, on the Closing Date, purchase 100% of the Notes.

EU Risk Retention: Permanent TSB, in the capacity of Originator, will retain on an ongoing basis, from the Closing Date until the maturity of the Notes, a material net economic interest of not less than 5% in the securitisation in accordance with Article 6(1) of the Securitisation Regulation.

US Risk Retention: The transaction is not intended to involve the retention by a sponsor for purposes of compliance with the US Risk Retention Rules, but rather it is intended to rely on an exemption provided for in Rule 20 of the US Risk Retention Rules regarding non-US transactions.

STS: Within fifteen business days of the Issue Date, it is intended that a notification will be submitted to ESMA and the Central Bank by Permanent TSB, as the Originator, in accordance with Article 27 of the EU Securitisation Regulation, confirming that the requirements of Article 18 and Articles 19 to 22 of the EU Securitisation Regulation for designation as a STS securitisation have been satisfied with respect to the Notes.

Compare/contrast: Fastnet Securities 19, Beckett Mortgages 2026-1 DAC, GS Mortgage Backed Securities Trust 2026 IRRP1