Aira Force 2026-1 PLC: 02 August 2026

A stand-alone transaction where the Issuer will make payments on the Notes and the Certificates from, inter alia, payments of principal and interest received from a portfolio comprising second or subsequent ranking mortgage loans originated by UK Mortgage Lending Ltd and secured over residential properties located in England, Wales and Scotland.

As at 31 May 2026 (the cut-off date), the portfolio comprised 4,124 second- or subsequent- lien mortgage loans. The largest current balance is £494,053.88, while the average current balance is £48,817.90, and the weighted-average seasoning is 12.74 months.

UK & EU Risk Retention: Waterfall Lake Cascade, LP (the Retention Holder) as “originator” will retain, on an ongoing basis, a material net economic interest of not less than 5% in the securitisation at the Closing Date. Such interest will take the form of the Retention Holder holding not less than 5% of the nominal value of each Class of notes and certificates.

US Risk Retention: The Retention Holder intends to satisfy the U.S. Credit Risk Retention Requirements by acquiring and retaining, directly, an eligible vertical interest equal to a minimum of 5% of the nominal value of each Class of notes and the certificates.

Compare/Contrast: Aldbrook Mortgage Transaction 2025-1 plc