# EDGAR Filing Document

**Accession Number:** 0000908777
**File Stem:** 0001999371-26-009258
**Filing Date:** 2026-4
**Character Count:** 234026
**Document Hash:** b9f7f2b656564a1d328a3da436e83e10
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-26-009258.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001999371-26-009258

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 22

**CONFORMED PERIOD OF REPORT**: 20260428

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Residential mortgages - Other/Combined

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS INTERNATIONAL
- **CENTRAL INDEX KEY:** 0000908777

**ORGANIZATION NAME:**
- **EIN:** 521920124
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-06245
- **FILM NUMBER:** 26908771

**BUSINESS ADDRESS:**
- **STREET 1:** PLUMTREE COURT
- **STREET 2:** 25 SHOE LANE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC4A 4AU
- **BUSINESS PHONE:** 44 20 7774 1000

**MAIL ADDRESS:**
- **STREET 1:** PLUMTREE COURT
- **STREET 2:** 25 SHOE LANE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC4A 4AU

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDMAN SACHS INTERNATIONAL LTD
- **DATE OF NAME CHANGE:** 19940315
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS INTERNATIONAL
- **CENTRAL INDEX KEY:** 0000908777

**ORGANIZATION NAME:**
- **EIN:** 521920124
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** PLUMTREE COURT
- **STREET 2:** 25 SHOE LANE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC4A 4AU
- **BUSINESS PHONE:** 44 20 7774 1000

**MAIL ADDRESS:**
- **STREET 1:** PLUMTREE COURT
- **STREET 2:** 25 SHOE LANE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC4A 4AU

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDMAN SACHS INTERNATIONAL LTD
- **DATE OF NAME CHANGE:** 19940315

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER**

**REPORT PURSUANT TO SECTION 15G OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

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| | |
|:---|:---|
| ☐ | Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period ___________<br> to ___________ |
|  | Date of Report (Date of filing) |
|  | Commission File Number of securitizer: ________________________ |
|  | Central Index Key Number of securitizer: ________________________ |

---

Name and telephone number, including area code, of the person to contact in connection with this filing.

---

| | |
|:---|:---|
|  | Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(l) ☐ |
|  | Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐ |
|  | Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐ |
| ☒ | Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2) |
|  | Central Index Key Number of depositor: <u>Not applicable</u> |

---

**GS MORTGAGE-BACKED SECURITIES TRUST 2026-IRRP1 DESIGNATED ACTIVITY COMPANY**

(Exact name of issuing entity as specified in its charter)

---

| |
|:---|
| Central Index Key Number of sponsor: <u>0000908777 (Goldman Sachs International)</u> |
| Central Index Key Number of issuing entity (if applicable): <u>Not applicable</u> |
| Central Index Key Number of underwriter (if applicable): <u>Not applicable</u> |

---

Vanessa Resnick, Phone: +44209025722

Name and telephone number, including area code, of the person <br> to contact in connection with this filing.

**INFORMATION TO BE INCLUDED IN THE REPORT**

**FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS**

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer**

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as an Exhibit to this Form ABS-15G. Please see the Exhibit Index for the related information.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **GS MORTGAGE-BACKED SECURITIES TRUST 2026-IRRP1 DESIGNATED ACTIVITY COMPANY** | **GS MORTGAGE-BACKED SECURITIES TRUST 2026-IRRP1 DESIGNATED ACTIVITY COMPANY** |
|  | By: | /s/ Vanessa Resnick |
|  | Name: | Vanessa Resnick |
|  | Title: | Authorized Person |
| Date: April 28, 2026 |  |  |

---

**EXHIBIT INDEX**

<u>Exhibit Number</u>

[99.1](ex99-1.htm) – Independent Accountant's Report on Applying Asset Agreed-Upon Procedures

[99.2](ex99-2.htm) – M&C Report – Project Snow V/Skellig – Title Check and Litigation Proceedings Overview

[99.3](ex99-3.htm) – M&C Report – Project Tara/Emerald – Title Check and Litigation Proceedings Overview

[99.4](ex99-4.htm) – ALG Limited Scope Due Diligence Report

## Exhibit 99.1

**[GS MORTGAGE-BACKED SECURITIES TRUST 2026 ABS-15G](gsmortagage2026-abs15g.htm)**

**Exhibit 99.1**

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| | | |
|:---|:---|:---|
| ![](ex991001.jpg) | **KPMG LLP**<br> 1 Sovereign Square<br> Sovereign Street<br> Leeds LS1 4DA<br> United Kingdom | Tel +44 (0) 113 231 3000 <br> Fax +44 (0) 113 231 3200 <br> helena.lyons@kpmg.co.uk <br> Mobile +44 (0) 7825 245 259 |

---

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| | | |
|:---|:---|:---|
| **Private & confidential** |  |  |
| The Directors | Your ref | Penryn |
| GSMBS 2026-IRL1 DAC |  |  |
| 3rd Floor, Waterloo Exchange | Our ref | HL/GP/UK010450 |
| Waterloo Road, |  |  |
| Dublin 4, | Contact | Helena Lyons |
| D04 E5W7 |  | +44 (0) 7825 245 259 |
| Ireland |  |  |
| Penryn Funding 2024 DAC |  |  |
| 1-2 Haddington Square, |  |  |
| Haddington Road, |  |  |
| Dublin 4, |  |  |
| D04 XN32 |  |  |
| Ireland |  |  |
| Goldman Sachs International |  |  |
| Plumtree Court, |  |  |
| 25 Shoe Lane, |  |  |
| London, EC4A 4AU |  |  |
| United Kingdom |  |  |
| 23 April 2026 |  |  |
| Dear All |  |  |

---

**Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation**

In accordance with the terms of our engagement letter dated 8 January 2026 (the "Engagement Letter"), we have performed certain agreed-upon procedures in relation to the portfolio of Irish mortgage loans referred to above proposed to be the subject of a securitisation (the "Securitisation"). This letter reports on our performance of those agreed-upon procedures (the "Data AUP Letter"). This Data AUP Letter is confidential and agreed disclosure restrictions apply.

This Data AUP Letter is addressed to the directors of GSMBS 2026-IRL1 DAC (the "Issuer"), Penryn Funding 2024 DAC (the "Seller") and Goldman Sachs International (the "Arranger") and collectively all addressees of this Data AUP Letter are referred to as the "Data AUP Letter Recipients".

The procedures that we will perform are solely for the purpose of assisting you in determining the accuracy of data that you are preparing in connection with the Securitisation and so may not be suitable for any other purpose. We will not accept any responsibility to any other party to whom our Data AUP Letter is shown or into whose hands it may come.

---

| | |
|:---|:---|
| KPMG LLP, a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited <br> by guarantee. | &nbsp;&nbsp;&nbsp;Registered in England No OC301540<br> Registered office: 15 Canada Square, London, E14 5GL For full details of our professional regulation please refer to 'Regulatory information' under 'About' at www.kpmg.com/uk |

---

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

**Responsibilities of the Data AUP Letter Recipients**

It is the responsibility of the Data AUP Letter Recipients to determine the sufficiency of these procedures agreed with them for their own purposes. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purposes for which this report has been requested or for any other purpose.

The Data AUP Letter Recipients have acknowledged that the agreed-upon procedures are appropriate for the purpose of the engagement. The Seller is responsible for the subject matter on which the agreed-upon procedures are performed.

**Our Responsibilities**

Our engagement was undertaken in accordance with International Standard on Related Services 4400 (Revised), *Agreed-Upon Procedures Engagements* issued by the International Auditing and Assurance Standards Board. An agreed-upon procedures engagement involves our performing the procedures that have been agreed with the Data AUP Letter Recipients, and reporting the factual findings, which are the factual results of the agreed-upon procedures performed. We make no representation regarding the appropriateness of the agreed-upon procedures.

This agreed-upon procedures engagement is not an assurance engagement. Accordingly, we do not express an opinion or an assurance conclusion.

Had we performed additional procedures, other matters might have come to our attention that would have been reported.

**Professional Ethics and Quality Control**

We have complied with the ethical requirements in the ICAEW Code of Ethics issued by the Institute of Chartered Accountants in England and Wales. For the purpose of this engagement, there are no independence requirements with which we are obliged to comply.

We apply International Standard on Quality Control (UK) 1 *Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements*. Accordingly, we maintain a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements and professional standards as well as applicable legal and regulatory requirements.

HL/GP/UK010450 2

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

**Procedures and Findings**

The procedures performed were not intended to satisfy any criteria for due diligence published by any nationally recognised statistical rating organisation ("NRSRO").

We have been provided with a data file entitled "Project Phoenix Datatape 31OCT2025.xlsx" containing details relating to a portfolio of Irish mortgage loans as at 31 October 2025 (the "Portfolio Date") (the "Extraction File") proposed to be the subject of a securitisation (the "Portfolio"). A sample of 426 items was drawn at random from the Portfolio (the "Sample"). The number of items in the Sample was determined on the basis described in the scope of services (the "Scope of Services") attached as Appendix A.

The procedures were performed on the Extraction File and the source documentation (the "Sources") provided to us by the Seller or the relevant mortgage portfolio servicer. We have not verified or evaluated such Sources and therefore we express no opinion or any other form of assurance regarding the reliability, accuracy or adequacy of the Sources, or as to whether any of the Sources omit any material facts. Furthermore, we express no opinion or any other form of assurance regarding the reliability, accuracy or adequacy of the disclosures in the Extraction File, or any legal matters relating to the Portfolio or the physical existence of the mortgaged properties.

The procedures performed did not address, without limitation: (i) the conformity of the origination of the Portfolio to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of any collateral securing the Portfolio, (iii) the compliance of the originator of the Portfolio with applicable laws and regulations, or (iv) any other factor or characteristic of the Portfolio that would be material to the likelihood that the issuer or the asset-backed security will pay interest and principal in accordance with applicable terms and conditions.

*Findings*

The findings from the agreed-upon procedures are set out in Appendix B.

Based on the instructions provided to us and the assumptions set out in the Scope of Services, the following statistical interpretation can be applied to the findings set out in Appendix B: on the basis of the number of differences between the Extraction File and the Sources identified in the Sample (as reported on the 'Differences' lines of Appendix B) and the number of missing sources relating to the Sample (as reported on the 'Missing Sources' line of Appendix B) it can be calculated that there is a 99% level of confidence that not more than X% of the population contains such findings relating to the specified procedure, where X is the relevant percentage reported on the 'Statistical extrapolation' lines of Appendix B.

HL/GP/UK010450 3

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

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Details of the differences and missing documentation found as a result of the agreed-upon procedures, and listed in Appendix B, are set out in Appendix C.

**General**

This Data AUP Letter may only be relied upon in respect of the matters to which it refers and as of its date. In relying upon this Data AUP Letter, you agree (save as may otherwise have been expressly agreed in writing) that we have no responsibility to, and we will not, perform any work subsequent to the date of this Data AUP Letter nor to consider, monitor, communicate or report the impact of any events or circumstances which may occur or may come to light subsequent to the date of this Data AUP Letter.

This Data AUP Letter is not issued in accordance with the professional standards of the American Institute of Certified Public Accountants or the US Public Company Accounting Oversight Board. We will provide separately an executed Form ABS Due Diligence-15E, *Certification of Provider of Third-Party Due Diligence Services for Asset-Backed Securities* ("Form ABS Due Diligence-15E"), using the form made available by the US Securities and Exchange Commission ("SEC"), to which this Data AUP Letter will be appended. The executed Form ABS Due Diligence-15E will be provided, without in any way or on any basis affecting or adding to or extending our duties and responsibilities to you or giving rise to any duty or responsibility being accepted or assumed by or imposed on KPMG to any party except you, to facilitate your compliance with SEC Release No. 34-72936, *Nationally Recognized Statistical Rating Organizations* (the "SEC Release")*,* pursuant to which you are required to make publicly available the findings and conclusions of any third-party due diligence report obtained. This Data AUP Letter alone is not to be relied on in the United States and we accept no responsibility for any use that you may make of this Data AUP Letter alone in the United States.

The requirement to make publicly available findings and conclusions includes disclosure of the criteria against which loans were evaluated, and how the evaluated loans compared to those criteria, along with the basis for including any loans not meeting those criteria. This is accomplished by including such information, which will include this Data AUP Letter, in Form ABS-15G, *Asset-Backed Securitizer Report Pursuant to Section 15G of the Securities Exchange Act of 1934* ("Form ABS 15G"), which is required to be furnished by the Issuer or underwriter to the SEC through the Electronic Data Gathering, Analysis, and Retrieval ("EDGAR") system.

The Issuer, sponsor or underwriter of an asset–backed securitisation is required to maintain a website (the "Rule 17g-5 website") pursuant to paragraph (a)(3) of Rule 17g-5 of the US Code of Federal Regulations (17 CFR 240.17g-5). The SEC Release requires any NRSRO producing a credit rating to which "third party due diligence services" relate, to publish with its rating any executed Form ABS Due Diligence-15E containing information about the relevant security or money market instrument that the NRSRO receives or obtains through a Rule 17g-5 website. The agreed-upon procedures performed by KPMG on which this Data AUP Letter reports amount to "third party due diligence services" as defined in the SEC Release.

HL/GP/UK010450 4

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

To facilitate a relevant NRSRO meeting this publication obligation, we are required to furnish any executed Form ABS Due Diligence-15E to any such NRSRO. As envisaged by the SEC Release, we will do so by providing the prescribed form to the Issuer, sponsor, or underwriter of the securitisation that maintains the Rule 17g-5 website, or to any NRSRO that requests it. In addition, the SEC Release requires that an NRSRO producing a credit rating publicly disclose each prescribed form that was posted to the Rule 17g-5 website. Such information may therefore be posted on the website of any relevant NRSRO.

Any such publicity shall take place, without in any way or on any basis affecting or adding to or extending our duties and responsibilities to you or giving rise to any duty or responsibility being accepted or assumed by or imposed on KPMG to any party except you, to facilitate your compliance with the SEC Release. Accordingly, any party (including rating agencies and investors) obtaining access to this Data AUP Letter as appended to the executed Form ABS Due Diligence-15E or separately is not authorised by KPMG to use or rely upon the Data AUP Letter, any such use or reliance shall take place at the relevant party's own risk and, to the fullest extent permitted by law, we will have no responsibility and will deny any liability to any such party.

Yours faithfully

![](ex991003.jpg)

KPMG LLP

***Attached:***

*Appendix A* *Scope of the Services* <br> *Appendix B* *Findings* <br> *Appendix C* *Details of Findings*

HL/GP/UK010450 5

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

**Appendix A: Scope of the Services**

This Appendix sets out the procedures that the Data AUP Letter Recipients have instructed us, and that we have agreed, to perform.

*Provision of a data file*

The Data AUP Letter Recipients have informed us that the Seller will provide a data file to us containing details of Irish mortgage loans proposed to be the subject of a securitisation (the "Portfolio") as at a date to be determined by the Data AUP Letter Recipients (the "Portfolio Date") (the "Extraction File"). We will draw a sample of items at random from the Extraction File (the "Sample") and will notify the items selected to the Seller. The number of items in the Sample will be determined on the basis described under "Sampling" below.

The Seller or the relevant mortgage portfolio servicer will also provide source documentation to us that the Data AUP Letter Recipients wish us to use for the purposes of the agreed-upon procedures.

*Sampling*

Sampling is a process of examining less than the total number of items in a population in order to calculate a statistical interpretation about that population. Sampling techniques inherently assume that the sample is representative of the population as a whole. The Data AUP Letter Recipients have requested that we calculate the sample size based on the total number of items in the Portfolio using the following parameters:

Expected deviation rate: 0%

Tolerable deviation rate: 1%

Confidence level: 99%

on the basis that differences between the data attributes and their respective sources are hypergeometrically distributed. We make no representations regarding the use of, or assumptions underlying the sampling techniques.

*Procedures*

The procedures that the Data AUP Letter Recipients have instructed us, and that we have agreed, to perform in relation to the information contained in the Extraction File are set out in the table below.

HL/GP/UK010450 6

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

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As instructed by the Data AUP Letter Recipients, we should test a single property linked to each loan within the Sample. Where an item in the Sample is linked to multiple properties, we should select the property with the highest market value for testing. Where an item in the Sample is classified as a 'warehouse' account, the Data AUP Letter Recipients have instructed us to perform the procedures for the linked 'main' account only.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;***No.***  | &nbsp;&nbsp;***Data attribute in the Extraction File*** | &nbsp;&nbsp;***Level***  | &nbsp;&nbsp;***Procedure***  | &nbsp;&nbsp;***Source/Recalculation***  | &nbsp;&nbsp;***Tolerance***  |
| &nbsp;&nbsp;***1***<br>| &nbsp;&nbsp;Originator<br>| &nbsp;&nbsp;Loan<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, for the purposes of this procedure, where the Extraction File states an Originator of 'Ulster Bank' and the source states one of following originating entities:<br>- First Active plc<br>- Mortgages Direct Limited<br>- First National Building Society<br>or 'KBC Bank' for the following originating entities:<br>- IIB Homeloans Limited<br>- Irish Life Homeloans Ltd<br>or 'Bank of Scotland' for the following originating entity:<br>- Halifax<br>or 'Bank of Ireland' for the following originating entities:<br>- Bank of Scotland<br>- ICS Building Society<br>This has not been marked as a difference. | &nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Payment Arrangement Letter<br>|  |

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HL/GP/UK010450 7

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***2a*** | &nbsp;&nbsp; Borrower Name | &nbsp;&nbsp; Borrower | &nbsp;&nbsp; For each item in the Sample check if the data attribute per the IT System matches the source. | &nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Payment Arrangement Letter | &nbsp;&nbsp;Differences attributable to spelling mistakes or contractions are to be treated as matching the source |
| &nbsp;&nbsp; ***2b*** | &nbsp;&nbsp; Borrower Name | &nbsp;&nbsp; Borrower | &nbsp;&nbsp; For each item in the Sample check if the data attribute per the IT System matches the source.<br>As instructed by the Data AUP Letter Recipients, where a loan has multiple borrowers in the IT System, check that at least one borrower name per the IT System matches the source.  | &nbsp;&nbsp; Land Registry / Registry of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp; Differences attributable to spelling mistakes or contractions are to be treated as matching the source |
| &nbsp;&nbsp; ***3a*** | &nbsp;&nbsp; Property Address | &nbsp;&nbsp; Collateral | &nbsp;&nbsp; For each item in the Sample check if the data attribute per the IT System matches the source.  | &nbsp;&nbsp; Loan Acceptance / Loan Offer / Alternative Payment Arrangement Letter | &nbsp;&nbsp;Differences attributable to spelling mistakes or contractions (other than the first line of the address) where there are no contradictory elements are to be treated as matching the source |

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HL/GP/UK010450 8

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;***3b*** |  | &nbsp;&nbsp;Collateral | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the IT System matches the source.<br>As instructed by the Data AUP Letter Recipients, where the source is incomplete, use <u>Land Direct</u> website to search the property address per the IT System and cross-check the Folio number observed back to the source.<br>As instructed by the Data AUP Letter Recipients, where the property address is incomplete in either the source or the IT System, but the Townland and/or Barony and/or County and the borrower name and first legal charge have been confirmed then this has not been marked as a difference. | &nbsp;&nbsp;Land Registry / Registry of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;Differences attributable to spelling mistakes or contractions (other than the first line of the address) where there are no contradictory elements are to be treated as matching the source |
| &nbsp;&nbsp;***4*** | &nbsp;&nbsp;Regulatory Code  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source. | &nbsp;&nbsp;IT System  |  |
| &nbsp;&nbsp;***5a***  | &nbsp;&nbsp;Origination Date  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source. | &nbsp;&nbsp;IT System  |  |
| &nbsp;&nbsp;***5b***  | &nbsp;&nbsp;Origination Date  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>| &nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Payment Arrangement Letter | &nbsp;&nbsp;+/- 180 days  |
| &nbsp;&nbsp;***6a***  | &nbsp;&nbsp;Origination Balance  | &nbsp;&nbsp;Loan | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source. | &nbsp;&nbsp;IT System  |  |
| &nbsp;&nbsp;***6b***  | &nbsp;&nbsp;Origination Balance  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, the Origination Balance for any item in the Sample originated prior to 09/02/2002 in Irish Pound has been converted at a set exchange rate of 1.26974 | &nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Payment Arrangement Letter | &nbsp;&nbsp;+/- 1.00 EUR  |

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HL/GP/UK010450 9

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***7*** | &nbsp;&nbsp; Maturity Date  | &nbsp;&nbsp; Loan | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source. | &nbsp;&nbsp; IT System  | &nbsp;&nbsp; +/- 30 days  |
| &nbsp;&nbsp; ***8***  | &nbsp;&nbsp; Current Balance  | &nbsp;&nbsp; Loan | &nbsp;&nbsp; For each item in the Sample serviced by Mars, check if the data attribute per the Extraction File matches the IT System.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Retail loans, check the data attribute to Data to IT System Extracts entitled 'New Reconciliation - 20251031.xlsx' or 'New Reconciliation - 20251031 (Part 2).xlsx' provided by the mortgage servicer.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Commercial loans, check the data attribute to IT System Extracts entitled 'Penryn (Bardello ARM) - Daily Portfolio Report - 31OCT2025.xlsx' or 'Penryn (Omni ARM) - Reconciliation - 31OCT2025.xlsx' or 'Penryn (Tara ARM) - Reconciliation - 31OCT2025.xlsx' provided by the mortgage servicer. | &nbsp;&nbsp; IT System / IT System Extracts *(See Procedure wording)*  |  |

---

HL/GP/UK010450 10

**Document Classification - KPMG Confidential**

---

| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***9***  | &nbsp;&nbsp; Current Arrears<br> Balance  | &nbsp;&nbsp; Loan  | &nbsp;&nbsp; For each item in the Sample serviced by Mars, check if the data attribute per the Extraction File matches the IT System.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Retail loans, check the data attribute to IT System Extracts entitled 'New Reconciliation - 20251031.xlsx' or 'New Reconciliation - 20251031 (Part 2).xlsx' provided by the mortgage servicer.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Commercial loans, check the data attribute to IT System Extracts entitled 'Penryn (Bardello ARM) - Daily Portfolio Report - 31OCT2025.xlsx' or 'Penryn (Omni ARM) - Reconciliation - 31OCT2025.xlsx' or 'Penryn (Tara ARM) - Reconciliation - 31OCT2025.xlsx' provided by the mortgage servicer. | &nbsp;&nbsp; IT System / IT System Extracts *(See Procedure wording)*  |
| &nbsp;&nbsp; ***10***  | &nbsp;&nbsp; Current Interest Rate Type  | &nbsp;&nbsp; Loan  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, the following results should not be marked as a difference:<br>- where the source states '0% Excl Base' and the Extraction File Value states 'SVR';<br>- where the source states 'TSFR-2YR' and the Extraction File states 'TEMP FIXED ARA'; and<br>- where the source states 'FIXED' and the Extraction File states 'F2V'. | &nbsp;&nbsp; IT System  |

---

HL/GP/UK010450 11

**Document Classification - KPMG Confidential**

---

| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***11***  | &nbsp;&nbsp; Current Interest Rate  | &nbsp;&nbsp; Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source. | &nbsp;&nbsp; IT System  |
| &nbsp;&nbsp; ***12***  | &nbsp;&nbsp; Current Interest Rate Margin  | &nbsp;&nbsp; Loan  | &nbsp;&nbsp; For each item in the Sample serviced by Mars, check if the data attribute per the Extraction File matches the IT System.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Retail loans, check the data attribute to IT System Extracts entitled 'New Reconciliation - 20251031.xlsx' or 'New Reconciliation - 20251031 (Part 2).xlsx' provided by the mortgage servicer.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Commercial loans, check the data attribute to IT System Extracts entitled 'Penryn (Bardello ARM) - Daily Portfolio Report - 31OCT2025.xlsx' or 'Penryn (Omni ARM) - Reconciliation - 31OCT2025.xlsx' or 'Penryn (Tara ARM) - Reconciliation - 31OCT2025.xlsx' provided by the mortgage servicer. | &nbsp;&nbsp; IT System / IT System Extracts *(See Procedure wording)*  |

---

HL/GP/UK010450 12

**Document Classification - KPMG Confidential**

---

| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***13***  | &nbsp;&nbsp; Repayment Method  | &nbsp;&nbsp; Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source. | &nbsp;&nbsp; IT System  |
| &nbsp;&nbsp; ***14***  | &nbsp;&nbsp; Next Payment Due  | &nbsp;&nbsp; Loan  | &nbsp;&nbsp; For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, this procedure was performed with reference to the November 2025 payment due.  | &nbsp;&nbsp; IT System  |
| &nbsp;&nbsp; ***15***  | &nbsp;&nbsp; Property Type  | &nbsp;&nbsp; Collateral  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, the following results should not be marked as a difference:<br>- where the Extraction File states 'RES- APARTMENT' and the source states 'Purpose- built flat';<br>- where the Extraction File states 'RES- MID-TERRACE HOUSE' and the source states 'Terraced House';<br>- where the Extraction File states 'RES-END-TERRACE HO'SE' and the source states 'End-of-Terrace House'; and<br>- where the Extraction File states 'Other' and the source states 'Suite'. | &nbsp;&nbsp; IT System  |

---

HL/GP/UK010450 13

**Document Classification - KPMG Confidential**

---

| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; ***16***  | &nbsp;&nbsp; Original Valuation Amount  | &nbsp;&nbsp; Collateral  | &nbsp;&nbsp; For each item in the Sample serviced by Pepper, check if the data attribute per the Extraction File matches the IT System.<br>For each item in the Sample serviced by Mars, check if the data attribute per the Extraction File matches the system extract file entitled 'Penryn Property tape.xlsx'  | &nbsp;&nbsp; IT System / Penryn Property tape.xlsx  |
| &nbsp;&nbsp; ***17***  | &nbsp;&nbsp; Original Valuation Date  | &nbsp;&nbsp; Collateral  | &nbsp;&nbsp; For each item in the Sample serviced by Pepper, check if the data attribute per the Extraction File matches the IT System.<br>For each item in the Sample serviced by Mars, check if the data attribute per the Extraction File matches the system extract file entitled 'Penryn Property tape.xlsx' | &nbsp;&nbsp; IT System / Penryn Property tape.xlsx  |
| &nbsp;&nbsp; ***18***  | &nbsp;&nbsp; Original Valuation Type  | &nbsp;&nbsp; Collateral  | &nbsp;&nbsp; For each item in the Sample serviced by Pepper, check if the data attribute per the Extraction File matches the IT System.<br>For each item in the Sample serviced by Mars, check if the data attribute per the Extraction File matches the system extract file entitled 'Penryn Property tape.xlsx'  | &nbsp;&nbsp; IT System / Penryn Property tape.xlsx  |

---

HL/GP/UK010450 14

**Document Classification - KPMG Confidential**

---

| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;***18***  | &nbsp;&nbsp;Latest Restructure Type  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Retail loans, where the IT System states 'Recap' and the Extraction File states 'CAPITALISE ARREARS' this has not been marked as a difference.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Retail loans, only restructures with a 'Committed' status should be considered for the purpose of this procedure.<br>As instructed by the Data AUP Letter Recipients, for Pepper – Commercial loans, where the IT System states '5Y Interest & <50% Capital' and the Extraction File states 'REDUCED NMI' this has not been marked as a difference.<br>As instructed by the Data AUP Letter Recipients, where there are multiple committed restructures applied against an account on the same day, we have checked that the data attribute for at least one matches the Extraction File. | &nbsp;&nbsp;IT System |

---

HL/GP/UK010450 15

**Document Classification - KPMG Confidential**

---

| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;***19*** | &nbsp;&nbsp;Latest Restructure Date | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, for Pepper - Retail loans, only restructures with a 'Committed' status should be considered for the purpose of this procedure.<br>As instructed by the Data AUP Letter Recipients, where there are multiple committed restructures applied against an account on the same day, we have checked that the data attribute for at least one matches the Extraction File.  | &nbsp;&nbsp;IT System  |
| &nbsp;&nbsp;***20*** | &nbsp;&nbsp;Signatures  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check that the source has been signed in the designated space by the borrower.  | &nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Payment Arrangement Letter |
| &nbsp;&nbsp;***21*** | &nbsp;&nbsp;Payment Made (last 3 months)  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source.<br>As instructed by the Data AUP Letter Recipients, this procedure should be performed with reference to payments made between August 2025 – October 2025.  | &nbsp;&nbsp;IT System  |

---

HL/GP/UK010450 16

**Document Classification - KPMG Confidential**

---

| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;***22***  | &nbsp;&nbsp;Legal Charge  | &nbsp;&nbsp;Collateral  | &nbsp;&nbsp;For each item in the Sample serviced by Pepper, check if 'PEPPER FINANCE CORPORATION (IRELAND) DESIGNATED ACTIVITY COMPANY' are described as having the first charge over the property.<br>For each item in the Sample serviced by Mars, check if 'MARS CAPITAL FINANCE IRELAND DESIGNATED ACTIVITY COMPANY' are described as having the first charge over the property. | &nbsp;&nbsp;Land registry / Registry of Deeds (RoD) search / Legal charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) |
| &nbsp;&nbsp;***23***  | &nbsp;&nbsp;Repayment Frequency  | &nbsp;&nbsp;Loan  | &nbsp;&nbsp;For each item in the Sample check if the data attribute per the Extraction File matches the source. | &nbsp;&nbsp;IT System  |

---

*Notes in relation to the manner of reporting certain findings*

*1)* *Reporting the findings*

Where a data attribute contained in the Extraction File for an individual mortgage loan does not match the source, this is to be reported as a 'difference' or 'D'.

Where a source document has not been provided, or the data attribute is missing from the source document, this is to be reported as 'missing source', 'missing from source' or 'MS'.

*2)* *Statistical interpretation*

For the purposes of the statistical interpretation, the Data AUP Letter Recipients require us to present the statistical extrapolation for each procedure as follows:

HL/GP/UK010450 17

**Document Classification - KPMG Confidential**

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| | |
|:---|:---|
| ![](ex991002.jpg) | ***KPMG LLP***<br> *Engagement to perform agreed-upon procedures in relation to a portfolio of Irish mortgage loans proposed to be the subject of a securitisation*<br> *23 April 2026* |

---

**Primary calculation:**

(i) Calculation
 to be based on the total number of items in the Sample.

(ii) Calculation
 to be performed treating as errors both differences and missing sources.

**Secondary calculation:**

(iii) Calculation
 to be based on the total number of items in the Sample after subtracting the number of
 items with missing sources.

(iv) Calculation
 to be performed treating as errors differences only.

Where a procedure specifies agreement to specific documentation, and the Seller or the relevant mortgage portfolio servicer has provided as part of the source documentation written evidence of amendments or additions to an original document or documents, the instruction of the Data AUP Letter Recipients to us is to conduct the relevant procedure on the basis of the information contained in the amendments or additions to the original documentation and not the information contained in the original documentation.

In reporting findings on the basis of the procedures to be undertaken, the Data AUP Letter Recipients have specified that results are to be reported as being in agreement if any difference found is below the tolerance level, if any, set out above.

HL/GP/UK010450 18

**Document Classification - KPMG Confidential**

![](ex993006.jpg)

![](ex993007.jpg)

![](ex993008.jpg)

**Appendix C: Details of Findings**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KPMG**<br> **Ref.** | &nbsp;&nbsp;&nbsp;**Procedure Nbr.** | &nbsp;&nbsp;&nbsp;**Data Attribute** | &nbsp;&nbsp;&nbsp;**Source** | &nbsp;&nbsp;&nbsp;**Extraction File Value**&nbsp;&nbsp;&nbsp;**Finding** | &nbsp;&nbsp;&nbsp;**Source Value** |
| &nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Name mismatch |
| &nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Name mismatch |
| &nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Name mismatch |
| &nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;Procedure 2b | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Name mismatch |
| &nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;Procedure 3b | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;Procedure 3b | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;Procedure 3b | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;Procedure 3b | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;Procedure 3b | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;Procedure 3b | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Address mismatch |
| &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/03/2005 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;19/10/2005 |
| &nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;13/08/2002 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;07/02/2008 |
| &nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;05/01/2007 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;05/07/2006 |
| &nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;04/04/2005 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;01/11/2005 |
| &nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;04/03/2008 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;09/10/2002 |
| &nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;21/07/2008 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;01/03/2000 |
| &nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/04/2005 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;21/11/2007 |
| &nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/05/2006 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;01/04/2003 |
| &nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/05/2004 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;12/03/2003 |
| &nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;27/05/2005 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;26/04/2004 |
| &nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;08/01/2008 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;10/02/2006 |
| &nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/04/2014 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;12/04/2006 |
| &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/03/2014 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;24/07/2006 |
| &nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;23/08/2004 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;18/08/2003 |
| &nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;16/02/2006 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;06/01/2005 |
| &nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;189975.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;141000.00 |
| &nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;265000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;208000.00 |
| &nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;134442.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;53000.00 |
| &nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;107250.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;131560.00 |
| &nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;438000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;670000.00 |

---

**Appendix C: Details of Findings**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KPMG**<br> **Ref.** | &nbsp;&nbsp;&nbsp;**Procedure Nbr.** | &nbsp;&nbsp;&nbsp;**Data Attribute** | &nbsp;&nbsp;&nbsp;**Source** | &nbsp;&nbsp;&nbsp;**Extraction File Value**&nbsp;&nbsp;&nbsp;**Finding** | &nbsp;&nbsp;&nbsp;**Source Value** |
| &nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;153822.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;211000.00 |
| &nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;240000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;250000.00 |
| &nbsp;&nbsp;&nbsp;118 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;209204.18 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;381800.00 |
| &nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;190000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;200000.00 |
| &nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;147200.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;145000.00 |
| &nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;270750.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;270881.49 |
| &nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;113517.12 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;94000.00 |
| &nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;76000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;80000.00 |
| &nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;137785.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;32000.00 |
| &nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;60284.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;65000.00 |
| &nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;144716.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;169280.00 |
| &nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;206993.68 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;100000.00 |
| &nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;149036.13 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;40000.00 |
| &nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;38000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;102000.00 |
| &nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;150000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;125000.00 |
| &nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;158636.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;196000.00 |
| &nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;37364.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;196000.00 |
| &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;381940.31 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;391500.00 |
| &nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;215000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;212000.00 |
| &nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;83000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;96000.00 |
| &nbsp;&nbsp;&nbsp;388 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;576999.20 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;700000.00 |
| &nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;110000.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;178000.00 |
| &nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;20489.00 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;33000.00 |
| &nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;Procedure 10 | &nbsp;&nbsp;&nbsp;Current Interest Rate Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;ECB &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Fixed |
| &nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;Procedure 10 | &nbsp;&nbsp;&nbsp;Current Interest Rate Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;0% (WAREHOUSE) &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Fixed |
| &nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;Procedure 10 | &nbsp;&nbsp;&nbsp;Current Interest Rate Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;0% (NON-WAREHOUSE) &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Fixed |
| &nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;Procedure 11 | &nbsp;&nbsp;&nbsp;Current Interest Rate | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;1.25 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;3.40% |
| &nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;Procedure 11 | &nbsp;&nbsp;&nbsp;Current Interest Rate | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;1.25 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;3.40% |
| &nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;Procedure 11 | &nbsp;&nbsp;&nbsp;Current Interest Rate | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;1.1 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;3.25% |
| &nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;Procedure 11 | &nbsp;&nbsp;&nbsp;Current Interest Rate | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;1.45 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;3.60% |
| &nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;Procedure 11 | &nbsp;&nbsp;&nbsp;Current Interest Rate | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;3.05 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;Procedure 14 | &nbsp;&nbsp;&nbsp;Next Payment Due | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;407.59 &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;427.78 |
| &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;Procedure 21 | &nbsp;&nbsp;&nbsp;Payment Made (last 3 months) | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;Has a payment been made within the last 3 months? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;No payments made in last 3 months |
| &nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;Procedure 21 | &nbsp;&nbsp;&nbsp;Payment Made (last 3 months) | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;Has a payment been made within the last 3 months? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;No payments made in last 3 months |
| &nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;Procedure 21 | &nbsp;&nbsp;&nbsp;Payment Made (last 3 months) | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;Has a payment been made within the last 3 months? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;No payment made in last 3 months |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 21 | &nbsp;&nbsp;&nbsp;Payment Made (last 3 months) | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;Has a payment been made within the last 3 months? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;No payment made in last 3 months |
| &nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;Procedure 21 | &nbsp;&nbsp;&nbsp;Payment Made (last 3 months) | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;Has a payment been made within the last 3 months? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;No payment made in last 3 months |
| &nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;Procedure 21 | &nbsp;&nbsp;&nbsp;Payment Made (last 3 months) | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;Has a payment been made within the last 3 months? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;No payment made in last 3 months |
| &nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;Procedure 21 | &nbsp;&nbsp;&nbsp;Payment Made (last 3 months) | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;Has a payment been made within the last 3 months? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;No payment made in last 3 months |
| &nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;Procedure 22 | &nbsp;&nbsp;&nbsp;Legal Charge | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does Pepper Finance Corporation (Ireland) DAC hold the first charge? &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Pepper does not hold first charge |

---

**Appendix C: Details of Findings**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KPMG**<br> **Ref.** | &nbsp;&nbsp;&nbsp;**Procedure Nbr.** | &nbsp;&nbsp;&nbsp;**Data Attribute** | &nbsp;&nbsp;&nbsp;**Source** | &nbsp;&nbsp;&nbsp;**Extraction File Value** | &nbsp;&nbsp;&nbsp;**Finding** | &nbsp;&nbsp;&nbsp;**Source Value** |
| &nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;Procedure 22 | &nbsp;&nbsp;&nbsp;Legal Charge | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does Pepper Finance Corporation (Ireland) DAC hold the first charge? | &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Pepper does not hold first charge |
| &nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;Procedure 22 | &nbsp;&nbsp;&nbsp;Legal Charge | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does Pepper Finance Corporation (Ireland) DAC hold the first charge? | &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Pepper does not hold first charge |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 22 | &nbsp;&nbsp;&nbsp;Legal Charge | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does Pepper Finance Corporation (Ireland) DAC hold the first charge? | &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Pepper does not hold first charge |
| &nbsp;&nbsp;&nbsp;251 | &nbsp;&nbsp;&nbsp;Procedure 22 | &nbsp;&nbsp;&nbsp;Legal Charge | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does Pepper Finance Corporation (Ireland) DAC hold the first charge? | &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Pepper does not hold first charge |
| &nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;Procedure 22 | &nbsp;&nbsp;&nbsp;Legal Charge | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does Pepper Finance Corporation (Ireland) DAC hold the first charge? | &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Pepper does not hold first charge |
| &nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;Procedure 22 | &nbsp;&nbsp;&nbsp;Legal Charge | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does Pepper Finance Corporation (Ireland) DAC hold the first charge? | &nbsp;&nbsp;&nbsp;D | &nbsp;&nbsp;&nbsp;Pepper does not hold first charge |
| &nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;KBC Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;277 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;354 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Ulster Bank | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;Procedure 1 | &nbsp;&nbsp;&nbsp;Originator | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Bank of Ireland | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |

---

**Appendix C: Details of Findings**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KPMG**<br> **Ref.** | &nbsp;&nbsp;&nbsp;**Procedure Nbr.** | &nbsp;&nbsp;&nbsp;**Data Attribute** | &nbsp;&nbsp;&nbsp;**Source** | &nbsp;&nbsp;&nbsp;**Extraction File Value** | &nbsp;&nbsp;&nbsp;**Finding** | &nbsp;&nbsp;&nbsp;**Source Value** |
| &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;Procedure 2a | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;Procedure 2b | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;Procedure 2b | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;Procedure 2b | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;Procedure 2b | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;Procedure 2b | &nbsp;&nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;&nbsp;Land Registry / Register of Deeds (RoD) search / Legal Charge / Folio / Irish Law Deed of Conveyance & Assignment (Unregistered Property) | &nbsp;&nbsp;&nbsp;Does the Borrower(s) Name per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |

---

**Appendix C: Details of Findings**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KPMG**<br> **Ref.** | &nbsp;&nbsp;&nbsp;**Procedure Nbr.** | &nbsp;&nbsp;&nbsp;**Data Attribute** | &nbsp;&nbsp;&nbsp;**Source** | &nbsp;&nbsp;&nbsp;**Extraction File Value** | &nbsp;&nbsp;&nbsp;**Finding** | &nbsp;&nbsp;&nbsp;**Source Value** |
| &nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;Procedure 3a | &nbsp;&nbsp;&nbsp;Property Address | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Does the Property Address per the Source match the IT System? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;13/05/2008 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;29/04/2004 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;09/05/2014 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;21/08/2003 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;26/06/2008 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;13/06/2006 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/02/2003 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/12/2003 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;18/12/1998 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;23/03/2000 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/12/2005 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/01/2006 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/08/2001 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/09/2007 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/05/2006 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/01/2007 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/05/2006 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;277 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/04/2006 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/06/2007 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/03/2008 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;354 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;16/08/2005 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/10/2004 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/11/2004 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |

---

**Appendix C: Details of Findings**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KPMG**<br> **Ref.** | &nbsp;&nbsp;&nbsp;**Procedure Nbr.** | &nbsp;&nbsp;&nbsp;**Data Attribute** | &nbsp;&nbsp;&nbsp;**Source** | &nbsp;&nbsp;&nbsp;**Extraction File Value** | &nbsp;&nbsp;&nbsp;**Finding** | &nbsp;&nbsp;&nbsp;**Source Value** |
| &nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/02/2014 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;01/02/2005 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;Procedure 5b | &nbsp;&nbsp;&nbsp;Orignation Date | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;27/07/2006 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;163790.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;88882.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;180000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;240000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;190000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;250000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;126674.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;250000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;132480.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;190000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;40000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;87060.40 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;269500.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;71740.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;139671.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;40000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;42000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;148559.36 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;162438.28 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;64000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;62958.07 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;234000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;41872.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;300000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;220000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;195000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;20000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;157000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;277 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;49854.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;164000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;202870.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;282000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;121000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;195000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;153000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;354 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;130000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;155000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;140000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;43334.78 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;110000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;Procedure 6b | &nbsp;&nbsp;&nbsp;Origination Balance | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;315000.00 | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |

---

**Appendix C: Details of Findings**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KPMG**<br> **Ref.** | &nbsp;&nbsp;&nbsp;**Procedure Nbr.** | &nbsp;&nbsp;&nbsp;**Data Attribute** | &nbsp;&nbsp;&nbsp;**Source** | &nbsp;&nbsp;&nbsp;**Extraction File Value** | &nbsp;&nbsp;&nbsp;**Finding** | &nbsp;&nbsp;&nbsp;**Source Value** |
| &nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-SEMI-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;Procedure 15 | &nbsp;&nbsp;&nbsp;Property Type | &nbsp;&nbsp;&nbsp;IT System | &nbsp;&nbsp;&nbsp;RES-DETACHED HOUSE | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing from source |
| &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;341 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |
| &nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;Procedure 20 | &nbsp;&nbsp;&nbsp;Signatures | &nbsp;&nbsp;&nbsp;Loan Acceptance / Loan Offer / Alternative Repayment Arrangement Letter | &nbsp;&nbsp;&nbsp;Has the Source document been signed by the Borrower(s)? | &nbsp;&nbsp;&nbsp;MS | &nbsp;&nbsp;&nbsp;Missing source |

---

## Exhibit 99.2

**[GS MORTGAGE-BACKED SECURITIES TRUST 2026 ABS-15G](gsmortagage2026-abs15g.htm)**

**Exhibit 99.2**

![](ex992001.jpg)

**Memo -**

---

| | |
|:---|:---|
| **To:** | Goldman Sachs International ("**GS**") |
| **From:** | Maples and Calder (Ireland) LLP |
| **Date:** | 28 April 2026 (with an effective date of 28 July 2025) |
| **Our ref:** | LSV/671554-000052/42923681v4 |
| **Subject:** | **Project Snow 5/Skellig – Title Check and Litigation Proceedings: Overview** |

---

---

| | |
|:---|:---|
| **1** | **Background** |

---

1.1 For
the purposes of this note and in accordance with our agreed scope of work we have reviewed the following data in order to conduct
a sample title check review exercise of the Snow 5 Portfolio and Skellig II Portfolio which are summarised below at Clause 2 (Snow
5 Title Check Review) and Clause 3 (Skellig II Title Check Review):

![](ex992002.jpg)

1.2 We
have reviewed the following logs in order to conduct a status review of litigation proceedings in the Snow 5 Portfolio and Skellig
II Portfolio which is summarised at Schedule 1 (Skellig II litigation summary) and Schedule 2 (Snow 5 litigation summary);

![](ex992003.jpg)

1.3 We
have not carried out any due diligence ()"**DD**") and have not reviewed any of the DD produced as part o the original
acquisition of the Snow 5 Portfolio and Skellig II Portfolio. As such, no refreshed DD has been undertaken to confirm whether
any additional financial services regulatory issues exist within the portfolio.

1.4 We
have assumed that any arrangements, delegation structures, procedures etc discussed in the AC Reports remain in place and unchanged
to any material degree, as described in those reports (e.g. in relation to the Servicing Condition, see further below)

1.5 This
note identifies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) only
material issues, risks and recommendations which could have an impact on the transferability or enforceability of the security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
material gaps we have been able to identity based only on what we would normally expect a purchaser DD to comprise.

1.6 Our
review did not include any assessment of the ongoing compliance with applicable Irish financial services legislation, requirements
and codes as applicable to the portfolios. The Central Bank of Ireland (the "**Central Bank**") continues its focus
on conduct risk, and any issues relating to the management of the loans post-origination (e.g. in relation to consumer protection
or any systemic issues relating to the treatment of customers, arrears management, credit reporting compliance, complaints handling,
anti-money laundering and countering the financing of terrorism / financial sanctions compliance etc) would not be detected as
part of our review.

---

| | |
|:---|:---|
| **2** | **Snow 5 Title Check Review** |

---

2.1 We
have conducted and reviewed property searches in respect of a sample of 61 properties, as contained in the excel spreadsheet appended
at Clause 1.2 (above) titled "**Project Snow Property Due Diligence Tracker** ". Set out below is a summary of the
principal issues identified from our review:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 57
 properties have a first ranking charge in favour of Mars Capital Finance Ireland DAC
 ()"**Mars**") registered on title.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 1
 property appears to be released from Mars' security (Folio MY49337F) as there is a release
 pending registration in Tailte Éireann against the Folio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) there
 are 2 properties where a County Council (Wicklow County Council in respect of one and
 South Dublin County Council in respect of the other property) is registered as owner
 of the Folios and 1 property in respect of which a Limited Liability Company is registered
 as owner of the Property. This appears to suggest that the Borrowers' title comprises
 part of the properties comprised in the three applicable Folios but that the Borrowers'
 title has not been lodged for registration in Tailte Éireann. Where the Borrower's
 title is unregistered this is a red flag issue because it creates fundamental uncertainty
 as to a Borrower's legal interest in the property, undermines the enforceability and
 value of any security, exposes Mars to the risk of competing claims, and raises concerns
 about the quality of the title and the robustness of the origination process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) there
 are 4 properties where no security (whether first ranking or otherwise) is registered
 in favour of Mars, nor is there any indication of pending registration of such security.
 The 3 properties referred to immediately above are 3 of the 4 properties where no security
 is registered or is pending registration in favour of Mars in addition to one further
 property. The fact that no security is registered or is pending registration may indicate
 that Mars's exposure is unsecured in respect of these properties, or alternatively,
 that the security has not yet been lodged for registration with Tailte Éireann.
 This is a red flag issue for several reasons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Unsecured Exposure:** Where no security is registered in favour of Mars, there is a risk that Mars's lending in respect of those
properties is unsecured. This means that, in the event of borrower default, Mars would not have the benefit of a legal charge
over the property to support its claim for repayment. As a result, Mars would rank as an unsecured creditor and would be exposed
to a significantly higher risk of non-recovery, particularly if the borrower is insolvent or if there are competing claims from
other creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) **Inability to Assure Good Title on Enforcement:** Even if Mars is contractually entitled to appoint a receiver over the properties (for
example, under the terms of a loan agreement or debenture), the receiver's ability to sell the property and provide good
title to a purchaser is fundamentally dependent on the security being registered. Without registration, the receiver cannot confer
a legal interest in the property to a buyer, which would likely prevent or delay any sale. This undermines the practical enforceability
of Mars's security and could materially impact the realisation of value from the property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) **Potential for Competing Interests:** If the security in favour of Mars has not been registered, there is a risk that other parties could
register interests or charges against the property in the interim. Any such interests could take priority over Mars's unregistered
security, further prejudicing Mars's position and recovery prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) **Impact on Saleability and Value**: From a transactional perspective, the absence of registered security is likely to be flagged by
any purchaser or investor as a material issue. It creates uncertainty as to Mars's ability to enforce its rights and realise
value from the property, which may affect pricing, require indemnities, or even result in the exclusion of such assets from a
sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 16
properties have judgment mortgages either registered or pending registration against the relevant Folio, each of which registered
after or when registered will rank after Mars's security. In the event of enforcement, Mars would be required to exercise
its power of sale as mortgagee in order to overreach the judgment mortgages;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) there
are 2 properties which are subject to property adjustment orders made by the Court in the context of divorce proceedings pursuant
to Section 14 of the Family Law (Divorce) Act 1996, and 1 property which is subject to a property adjustment order made in the
context of separation proceedings under the Family Law Act 1995. In the case of the 1 property subject to the order under the
Family Law Act 1995, it appears that Mars' security is in the process of being released (see comments at 4.1(b) above).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Property
adjustment orders typically impose restrictions on the registered owner's ability to deal with the property. Such restrictions
may include: (i) a prohibition on the sale of the property without a further order of the Court; (ii) a requirement for Court
consent before any further security can be created over the property; and/or (iii) the grant of a right of residence in favour
of one party, which may be for a defined period or for life. The presence of such restrictions can present a significant issue,
as they may adversely affect the marketability of the property and may have an impact on the enforceability of security, particularly
where the order grants a right of residence or restricts the sale of the property without Court approval.

2.2 However,
where Mars' security is first-ranking and properly registered (as is the case in respect of all 3 properties), Mars'
priority is preserved notwithstanding the registration of the property adjustment order. This means that, in principle, Mars'
ability to enforce its security is not prejudiced by the existence of the order. Nevertheless, practical and procedural challenges
may still arise. For instance, if Mars wishes to enforce its security (for example, by appointing a receiver or exercising a power
of sale), it may be required to obtain the prior consent of the Court. This can result in delays and additional costs, as it may
be necessary to make an application to the Court to vary or lift the order to allow enforcement or sale to proceed. The involvement
of the Court introduces procedural complexity, can significantly prolong the enforcement process, and may lead to increased legal
costs. Furthermore, the requirement for Court approval can create uncertainty as to the timing and outcome of any enforcement
action.

2.3 The
embedded Excel file below summaries the output of our title check searches as detailed in our summary above.

![](ex992004.jpg)

---

| | |
|:---|:---|
| **3** | **Skellig II Title Check Review** |

---

3.1 We
have conducted and reviewed property searches in respect of a sample of 75 properties, as identified in the list provided by Goldman
Sachs International. Our review comprised an examination of the search results and the completion of the attached excel spreadsheet
(the "**Project Skellig Property Due Diligence Tracker** "). Set out below is a summary of the principal issues identified
from our review of the Project Skellig Property Due Diligence Tracker:

3.2 Of
the 75 properties reviewed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 correct Folio No. is outstanding for 1 property (Strandhill Road, County Sligo)(this
 has been requested from the GS deal team);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 69
 properties have a first ranking charge in favour of Pepper Finance Corporation (Ireland)
 DAC ()"**Pepper**") registered on title;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) there
 are 5 properties where no security (whether first ranking or otherwise) is registered
 in favour of Pepper, nor is there any indication of pending registration of such security.
 This may indicate that Pepper's exposure is unsecured in respect of these properties,
 or alternatively, that the security has not yet been lodged for registration with Tailte
 Éireann. This is a red flag issue for several reasons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Unsecured
 Exposure: Where no security is registered in favour of Pepper, there is a risk that Pepper's
 lending in respect of those properties is unsecured. This means that, in the event of
 borrower default, Pepper would not have the benefit of a legal charge over the property
 to support its claim for repayment. As a result, Pepper would rank as an unsecured creditor
 and would be exposed to a significantly higher risk of non-recovery, particularly if
 the borrower is insolvent or if there are competing claims from other creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Inability
 to Assure Good Title on Enforcement: Even if Pepper is contractually entitled to appoint
 a receiver over the properties (for example, under the terms of a loan agreement or debenture),
 the receiver's ability to sell the property and provide good title to a purchaser
 is fundamentally dependent on the security being registered. Without registration, the
 receiver cannot confer a legal interest in the property to a buyer, which would likely
 prevent or delay any sale. This undermines the practical enforceability of Pepper's
 security and could materially impact the realisation of value from the property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Potential
for Competing Interests: If the security in favour of Pepper has not been registered, there is a risk that other parties could
register interests or charges against the property in the interim. Any such interests could take priority over Pepper's
unregistered security, further prejudicing Pepper's position and recovery prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Impact
 on Saleability and Value: From a transactional perspective, the absence of registered
 security is likely to be flagged by any purchaser or investor as a material issue. It
 creates uncertainty as to Pepper's ability to enforce its rights and realise value
 from the property, which may affect pricing, require indemnities, or even result in the
 exclusion of such assets from a sale.

1 property is subject to a prior first ranking charge, which takes precedence over Pepper's security. The prior charge secures a sum of £32:18:11 (with interest at £10:0:0 per annum). In the event of enforcement, the amount secured by this prior charge would need to be discharged in full before any sale proceeds could be applied towards Pepper's debt; and

5 properties have judgment mortgages registered on the relevant folio, each of which ranks after Pepper's security. In the event of enforcement, Pepper would be required to exercise its power of sale as mortgagee in order to overreach the judgment mortgages.

The embedded Excel file below summaries the output of our Title Check searches as detailed in our summary above:

![](ex992005.jpg)

---

| | |
|:---|:---|
| **4** | **Benefit of this Memorandum** |

---

4.1 This
memorandum is addressed only to the Addressees in accordance with our terms of engagement and may be relied upon only by the Addressees
for their sole benefit in connection with the acquisition by Penryn Funding DAC 2024 of the Project Snow 5 loans from Hartland
Property Finance DAC and the Project Skellig 2 loans from Elmscott Property Finance DAC (the "**Transactions** ")
and may not be relied on by any assignees of the Addresses or any other person.

4.2 Save
as set out in paragraph 4.2 this memorandum may not be relied upon by or distributed or disclosed in whole or in part to any other
party, nor may it be quoted or made public in any way without our prior written consent, provided that a copy of this memorandum
may be disclosed to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) your
 affiliates, officers, directors and employees and your professional advisers and auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 potential assignee or transferee or sub-participants of the original lenders on the Transaction
 (or, in each case, the professional advisers or auditors of such entity); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
rating agency for the purposes of a securitisation,

but in each case only on the basis that (i) such disclosure is made to inform the recipient of the terms of the opinion but only on a non-reliance basis; (ii) we assume no duty or liability to the recipient; and (iii) such recipient agrees not to provide a copy of this memorandum to any other person without our prior written consent.

**Schedule 1**

**Skellig II litigation summary**

**Schedule II**

**Snow 5 Litigation Summary**

## Exhibit 99.3

**[GS MORTGAGE-BACKED SECURITIES TRUST 2026 ABS-15G](gsmortagage2026-abs15g.htm)**

Exhibit 99.3

![](ex993001.jpg)

**Memo -**

---

| | |
|:---|:---|
| **To:** | Goldman Sachs International ("**GS**"), Goldman Sachs International Bank ("**GSIB**") |
| **From:** | Maples and Calder (Ireland) LLP |
| **Date:** | 28 April 2026 (with an effective date of 15 August 2025) |
| **Our ref:** | LSV/671554-000052/42922650v4 |
| **Subject:** | **Project Tara/Emerald – Title Check and Litigation Proceedings: Overview** |

---

---

| | |
|:---|:---|
| **1** | **Background** |

---

1.1 For
the purposes of this note and in accordance with our agreed scope of work we have reviewed the following data in order to conduct
a sample title check review exercise of the Tara Portfolio and Emerald Portfolio which are summarised below at Clause 2 (Tara/Emerald
Property Due Diligence on Registered Properties) and Clause 3 (Project Tara/Emerald Unregistered Title Property DD Tracker):

![](ex993002.jpg)

1.2 We
have also reviewed the following logs in order to conduct a status review of litigation proceedings in the Tara Portfolio and
Emerald Portfolio which is summarised at Schedule 1 (Tara/Emerald litigation summary);

![](ex993003.jpg)

1.3 We
have not carried out any due diligence ()"**DD**") and have not reviewed any of the DD originally produced as part
of the original acquisition of the Tara Portfolio and Emerald Portfolio. As such, no refreshed DD has been performed since 2019
to confirm whether any additional financial services regulatory issues exist within the portfolio.

1.4 We
have assumed that any arrangements, delegation structures, procedures etc remain in place and unchanged to any material degree,
as described in those reports (e.g. in relation to the Servicing Condition, see further below)

1.5 This
note identifies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) only
material issues, risks and recommendations identified which could have an impact on the transferability or enforceability of the
security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
material gaps we have been able to identity are based only on what we would normally expect a purchaser DD to comprise.

1.6 Our
review did not include any assessment of the ongoing compliance with applicable Irish financial services legislation, requirements
and codes as applicable to the portfolios. The Central Bank of Ireland (the "**Central Bank**") continues its focus
on conduct risk, and any issues relating to the management of the loans post-origination (e.g. in relation to consumer protection
or any systemic issues relating to the treatment of customers, arrears management, credit reporting compliance, complaints handling,
anti-money laundering and countering the financing of terrorism / financial sanctions compliance etc) would not be detected as
part of our review.

---

| | |
|:---|:---|
| **2** | **Tara/Emerald Property Due Diligence on Registered Properties** |

---

2.1 We
have conducted and reviewed property searches in respect of a sample of 65 properties, as contained in the excel spreadsheet appended
at Clause 1.2 (above) titled "**Project Emerald Tara Completed Registered Title Property DD Tracker** ". Set out below
is a summary of the principal issues identified from our review:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 62
properties have a first ranking charge in favour of Pepper Finance Corporation (Ireland) DAC ()"**Peppe** r") registered
on title. Of these 62 properties, 1 property appears to be released from Pepper's security (Folio KE53558F) as there is a release
pending registration in Tailte Éireann against the Folio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There
are 3 properties where no security (whether first ranking or otherwise) is registered in favour of Pepper, nor is there any indication
of pending registration of such security. This may indicate that Pepper's exposure is unsecured in respect of these properties,
or alternatively, that the security has not yet been lodged for registration with Tailte Éireann. This is a red flag issue
for several reasons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Unsecured Exposure:** Where no security is registered in favour of Pepper, there is a risk that Pepper's lending in respect of those
properties is unsecured. This means that, in the event of borrower default, Pepper would not have the benefit of a legal charge
over the property to support its claim for repayment. As a result, Pepper would rank as an unsecured creditor and would be exposed
to a significantly higher risk of non-recovery, particularly if the borrower is insolvent or if there are competing claims from
other creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) **Inability to Assure Good Title on Enforcement:** Even if Pepper is contractually entitled to appoint a receiver over the properties (for
example, under the terms of a loan agreement or debenture), the receiver's ability to sell the property and provide good
title to a purchaser is fundamentally dependent on the security being registered. Without registration, the receiver cannot confer
a legal interest in the property to a buyer, which would likely prevent or delay any sale. This undermines the practical enforceability
of Pepper's security and could materially impact the realisation of value from the property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) **Potential for Competing Interests:** If the security in favour of Pepper has not been registered, there is a risk that other parties could
register interests or charges against the property in the interim. Any such interests could take priority over Pepper's
unregistered security, further prejudicing Pepper's position and recovery prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) **Impact on Saleability and Value**: From a transactional perspective, the absence of registered
 security is likely to be flagged by any purchaser or investor as a material issue. It
 creates uncertainty as to Pepper's ability to enforce its rights and realise value
 from the property, which may affect pricing, require indemnities, or even result in the
 exclusion of such assets from a sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 20
properties have judgment mortgages registered on the relevant Folio, each of which ranks after Pepper's security. In the
event of enforcement, Pepper would be required to exercise its power of sale as mortgagee in order to overreach the judgment mortgages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) There
are 2 properties which are subject to property adjustment orders, 1 of which was made by the Circuit Family Court in the context
of divorce proceedings pursuant to Section 14 of the Family Law (Divorce) Act 1996 and 1 of which was made by the Circuit Family
Court in the context of separation proceedings under Section 9 of the Family Law Act 1995. Property adjustment orders typically
impose restrictions on the registered owner's ability to deal with the property. Such restrictions may include: (i) a prohibition
on the sale of the property without a further order of the Court; (ii) a requirement for Court consent before any further security
can be created over the property; and/or (iii) the grant of a right of residence in favour of one party, which may be for a defined
period or for life.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The
presence of such restrictions can present a significant issue, as they may adversely affect the marketability of the property
and may have an impact on the enforceability of security, particularly where the order grants a right of residence or restricts
the sale of the property without Court approval. However, where Pepper's security is first-ranking and properly registered
(as is the case in respect of both properties), Peppers' priority is preserved notwithstanding the registration of the property
adjustment order. This means that, in principle, Peppers' ability to enforce its security is not prejudiced by the existence
of the order. Nevertheless, practical and procedural challenges may still arise. For instance, if Pepper wishes to enforce its
security (for example, by appointing a receiver or exercising a power of sale), it may be required to obtain the prior consent
of the Court. This can result in delays and additional costs, as it may be necessary to make an application to the Court to vary
or lift the order to allow enforcement or sale to proceed. The involvement of the Court introduces procedural complexity, can
significantly prolong the enforcement process, and may lead to increased legal costs. Furthermore, the requirement for Court approval
can create uncertainty as to the timing and outcome of any enforcement action.

The embedded Excel file below summaries the output of our title check searches as detailed in our summary above.

![](ex993004.jpg)

---

| | |
|:---|:---|
| **3** | **Project Tara/Emerald Unregistered Title Property DD Tracker** |

---

3.1 We
have conducted and reviewed Registry of Deeds searches in respect of a sample of 8 unregistered properties, as identified in the
list provided by Goldman Sachs International. Our review comprised an examination of the search results and the completion of
the attached excel spreadsheet (the "**Project Tara Emerald Unregistered Title Property DD Tracker** "). Set out below
is a summary of the principal issues identified from our review:

3.2 We
instructed our bonded searchers, Allied Legal, to undertake Registry of Deeds searches based on the serial numbers pursuant to
which the various mortgages are registered in the Registry of Deeds provided by the Goldman Sachs International in order to identify
the name of the borrower/registered owner of each property and to establish if ownership of the security is registered as having
transferred to Pepper. Allied Legal then carried out grantee searches to establish if any prior security appearing on searches
registered on title had been released. Our review and subsequent findings are limited in nature (most notably in relation to the
existence of prior charges on title) due to the insufficient information available to enable us to conduct robust searches in
the absence of the title deeds in respect of each property.

3.3 Of
the 8 properties reviewed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For
7 properties, the originating lender's security has been registered in the Registry of Deeds, and the subsequent transfer to Pepper
has also been registered. Consequently, Pepper's security holds first priority.);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For
1 property, Pepper's security is not registered as first in priority. There are two prior charges registered ahead of Pepper's
security, and based on grantee searches, there is no evidence that these two prior pieces of security have been released. As there
is no evidence of their release, they are presumed to remain valid and enforceable. Therefore, Pepper's security is effectively
a third-ranking charge. In an enforcement scenario, if the two prior pieces of security have not been released, the proceeds from
the sale of the property will be applied first to discharge the debts secured by the prior charges, in order of their priority.
If the sale proceeds are insufficient to discharge all three charges, Pepper may receive nothing or only have a partial recovery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 2
properties have judgement mortgages registered on title, each of which is registered in priority after Pepper's security. Overreaching,
as a statutory mechanism, does not generally apply to judgement mortgages registered against unregistered titles (Registry of
Deeds titles) in Ireland. The rules of priority and the doctrine of notice govern the effect of registration in the Registry of
Deeds, rather than the statutory overreaching provisions that apply to registered land. Therefore, in an enforcement scenario,
as Pepper's security is registered first in priority, Pepper does not need to sell as mortgagee to overreach the judgement mortgages.

The embedded Excel file below summaries the output of our Title Check searches as detailed in our summary above:

![](ex993005.jpg)

---

| | |
|:---|:---|
| **4** | **Benefit of this Memorandum** |

---

4.1 This
memorandum is addressed only to the Addressees in accordance with our terms of engagement and may be relied upon only by the Addressees
for their sole benefit in connection with the acquisition by Penryn Funding DAC 2024 of the Project Tara and Project Emerald loans
from IRMT-BW1 DAC (the "**Transactions**") and may not be relied on by any assignees of the Addresses or any other
person.

4.2 Save
as set out in paragraph 4.2 this memorandum may not be relied upon by or distributed or disclosed in whole or in part to any other
party, nor may it be quoted or made public in any way without our prior written consent, provided that a copy of this memorandum
may be disclosed to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) your
 affiliates, officers, directors and employees and your professional advisers and auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 potential assignee or transferee or sub-participants of the original lenders on the Transaction
 (or, in each case, the professional advisers or auditors of such entity); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 rating agency for the purposes of a securitisation,

but in each case only on the basis that (i) such disclosure is made to inform the recipient of the terms of the opinion but only on a non-reliance basis; (ii) we assume no duty or liability to the recipient; and (iii) such recipient agrees not to provide a copy of this memorandum to any other person without our prior written consent.

**Schedule 1**

**Tara/Emerald Litigation Summary**

## Exhibit 9.4

**[GS MORTGAGE-BACKED SECURITIES TRUST 2026 ABS-15G](gsmortagage2026-abs15g.htm)**

**Exhibit 99.4**

![](ex99401.jpg)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [1 INTRODUCTION](#a_001) | 2.0 |
| [2 REVIEW OF PROJECT TEMPLE DUE DILIGENCE ACQUISITION REPORT](#a_002) |  |
| [3 REVIEW OF PROJECT DEENISH DUE DILIGENCE ACQUISITION REPORT](#a_003) | 4.0 |
| [4 REVIEW OF PROJECT SKELLIG DUE DILIGENCE ACQUISITION REPORT](#a_004) | 5.0 |
| [Schedule 1 TERMS OF REFERENCE](#a_005) | 11.0 |
| [Schedule 2 RESTRUCTURING AGREEMENTS DUE DILIGENCE](#a_006) | 13.0 |
| [Schedule 3 ASSET TITLE CHECK REPORT](#a_007) | 14.0 |
| [Schedule 4 REGULATORY, CONSUMER AND RELATED CORRESPONDENCE REPORT](#a_008) | 16.0 |
| [Schedule 5 LITIGATION TRACKER REVIEW](#a_009) | 20.0 |
| [Schedule 6 PROJECT ALPINE REMEDIATION](#a_010) | 21.0 |

---

1 INTRODUCTION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 This legal due diligence report (the **Report**) is to summarise the results of the specific scope
legal due diligence review carried out by A&L Goodbody LLP (**ALG**) for Goldman Sachs International Bank (the **Purchaser**)
in connection with the proposed acquisition of a number of loan portfolios (i.e. Project Temple, Project Deenish and Project Skellig),
pursuant to certain mortgage sale agreements to be entered into on or about July 2024 - such transaction known as Project Penryn, (the **Original Penryn Transaction**). This Report has been prepared solely in connection with the Original Penryn Transaction and should
not be used for any other purpose. Details of relevant assumptions and the Scope and basis of this Report are set out in the Terms of
Reference at Schedule 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 Sections 2 to 4 of this Report set out our due diligence review of the Project Temple, Project Deenish
and Project Skellig acquisition due diligence reports (the **DD Reports**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 In addition to our due diligence review of the DD Reports, we have also prepared a number of additional
due diligence reviews in connection with the Original Penryn Transaction, as set out below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.1 a due diligence review of a sample of restructuring agreements relevant to the Project Penryn portfolio
(as set out in Schedule 2 of this Report);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.2 a due diligence review involving the assessment of title to a sample of assets relevant to the Project
Penryn portfolio (as set out in Schedule 3 of this Report);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.3 a summary and high-level view following our analysis of consumer, regulatory and other similar correspondence
provided to us in respect of the Project Penryn portfolio (as set out in Schedule 4 of this Report);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.4 a summary and high-level view following our analysis of an inward and outward litigation tracker relevant
to the Project Penryn portfolio (as set out in Schedule 5 of this Report); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.5 a summary and high-level view following our analysis of the documents related to the 'Project Alpine'
remediation (as set out in Schedule 6 of this Report).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 This Report is provided on an 'exceptions only' basis, covering only issues which we regard as material
or significant in the context of the Original Penryn Transaction, taken as a whole. Any matter which appears from the materials we have
reviewed not to be material or significant in the context of the Original Penryn Transaction, taken as a whole, has not been included
in the Report. The Report focuses only on the areas set out in the Terms of Reference and summarises the material or significant legal
issues arising together with, where possible or appropriate, proposed solutions and/or next steps.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 The contents of this Report are confidential and subject to legal professional privilege. Neither this
Report nor any of its contents may be disclosed to any person other than the Purchaser, its professional advisers and officers and employees
who are directly involved in the Original Penryn Transaction, without our express written consent, and then only on the basis that it
is treated as strictly confidential. We accept no responsibility or legal liability to any person other than the Purchaser in relation
to the contents of this Report even if this Report has been disclosed with our consent unless expressly agreed by us in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 This Report should be read in its entirety and reading any summaries is not a substitute for reading the
information in the entire Report, including the schedules and annexes which form part of the Report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 This Report in no way involves the giving of advice or the recommendation to any party as to whether to
proceed with any particular transaction including, without limitation, to any prospective investor in its decision to invest in notes
backed by mortgage assets that may have formed part of the portfolio relevant to the Original Penryn Transaction. Additionally, we express
no opinion nor provide any other form of assurance regarding (i) the reasonableness or completeness of information provided to us by any
third party; (ii) the physical existence of the loans; or (iii) the adequacy, accuracy or completeness of documents or information provided
to us in order to prepare this Report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 The reviews, the results of which are summarised in this Report, were carried out in the context of an
acquisition process for the Original Penryn Transaction. While it was understood at the time of preparing this Report that certain loans
included in the Original Penryn Transaction may subsequently be securitised, the results summarised in this Report cannot be taken as
being representative of any particular securitisation portfolio in the context of a future transaction.

2 REVIEW OF PROJECT TEMPLE DUE DILIGENCE ACQUISITION REPORT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 We have reviewed the due diligence report dated 26 August 2021 prepared
by A&L Goodbody LLP in respect of the Project Temple portfolio (document number M-55930067-4) (the Temple DD Report).
Below is a summary of the documents reviewed by A&L Goodbody LLP in preparing the Temple DD Report:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1 regulatory review of 50 borrower files;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2 review of 50 restructuring agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3 review of 250 mortgage asset files (the Temple
EDD Review).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Executive Summary

While *we* have identified a number of points of potential materiality in the Temple DD Report (as set out below), other than as specified below, the identified issues are, in our view, common issues that arise with a transaction and portfolio of this nature; and in respect of the Temple EDD review, the amount of loans impacted by the identified issues is a reasonably small percentage of the sample size reviewed and is broadly in line with what we would expect to see on a transaction and portfolio of this type.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 Findings

---

| | | |
|:---|:---|:---|
| **Issue identified** | **Details** | **ALG commentary** |
| &nbsp;&nbsp;*Security (the Temple EDD Review)* | &nbsp;&nbsp;5 of the 250 mortgage assets (i.e. 2%) had prior charges which did not have any evidence of release. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● This would mean that CarVal potentially did not acquire first ranking priority over those mortgage assets.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A first ranking charge warranty is being provided by the Seller. |
| &nbsp;&nbsp;*Security (the Temple EDD Review)* | &nbsp;&nbsp;1 of the 250 mortgage assets (i.e. 0.4%) had a security issue where the borrower does not appear to be the owner of the asset. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● This would mean that CarVal potentially did not acquire first ranking priority over those mortgage assets.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A first ranking charge warranty is being provided by the Seller. |
| &nbsp;&nbsp;*Security (the Temple EDD Review)* | &nbsp;&nbsp;1 of the 250 mortgage assets (i.e. 0.4%) is co-owned by the Official Assignee in Bankruptcy. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● This would mean that CarVal potentially did not acquire first ranking priority over those mortgage assets.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A first ranking charge warranty is being provided by the Seller. |
| &nbsp;&nbsp;*Regulatory review* | &nbsp;&nbsp;***CCMA*** - 8 of the 50 borrower files (i.e. 16%) are noted as containing potential deficiencies with regard to the Central Bank of Ireland Code of Conduct on Mortgage Arrears (for example, non-reference to arrears support unit and non-sending of relevant documents between a variation of terms of cancellation for non-payment). | &nbsp;&nbsp;It is possible that separate documentation (which was not uploaded to the Project Temple data room) was provided to the relevant borrowers which addresses these issues. |
| &nbsp;&nbsp;*Regulatory review* | &nbsp;&nbsp; ***UTCCR*** – the Temple DD Report identifies certain provisions of the borrower files that could be deemed to be unfair under the Unfair Terms in Consumer Contracts Regulations.<br> The UTCCR provides that an unfair term will be unenforceable against the borrower. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● This is a typical issue across all standard form bank documents. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● In any event, a challenge under the UTCCR would not generally affect the general enforceability or otherwise of the underlying loan (just the unfair term in question). |
| &nbsp;&nbsp;*Out of scope issues not covered in Project Temple DD Report* | &nbsp;&nbsp;There was no review of inward or outward litigation. | &nbsp;&nbsp;We will be receiving an up-to-date litigation tracker from Pepper across all three portfolios. |
| &nbsp;&nbsp;*Out of scope issues not covered in Project Temple DD Report* | &nbsp;&nbsp;The Project Temple DD Report does not cover the Distance Marketing Regulations. | &nbsp;&nbsp;It may be the case that none of the loans were provided exclusively by means of distance communication, in which case the DMR would not apply. |
| &nbsp;&nbsp;*Out of scope issues not covered in Project Temple DD Report* | &nbsp;&nbsp;Standard loan documentation / terms and conditions were not reviewed by ALG. | &nbsp;&nbsp;Arthur Cox reviewed these separately and have provided a report. |

---

3 REVIEW OF PROJECT DEENISH DUE DILIGENCE ACQUISITION REPORT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 We have reviewed the due diligence report dated 27 September 2019 prepared
by Arthur Cox in respect of the Project Deenish portfolio (document number CA494/130/AC#40137323.1) (the Deenish DD Report).
Below is a summary of the documents reviewed by Arthur Cox in preparing the Deenish DD Report:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1 review of 30 borrower files;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2 review of 13 standard mortgage documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.3 review of 22 standard loan documents / terms & conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.4 review of 200 mortgage asset files (the Deenish
EDD Review); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.5 review of inward / outward litigation tracker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Executive Summary

While we have identified a number of points of potential materiality in the Deenish DD Report, other than as specified below, the identified issues are, in our view, common issues that arise with a transaction and portfolio of this nature; and in respect of the Deenish EDD Review, the amount of loans impacted by the identified issues identified is a reasonably small percentage of the sample size reviewed and is broadly in line with what we would expect to see on a transaction and portfolio of this type.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Findings

---

| | | |
|:---|:---|:---|
| **Issue identified** | Details | ALG commentary |
| &nbsp;&nbsp;*Security (the Deenish EDD Review)* | &nbsp;&nbsp;In 3 of the 200 mortgage assets (i.e. 1.5%), while the seller had first ranking security, the security is in the form of a solicitor's undertaking only. | &nbsp;&nbsp;The amount of loans impacted by the identified issues identified is a reasonably small percentage of the sample size reviewed and is broadly in line with what we would expect to see on a transaction and portfolio of this type. |
| &nbsp;&nbsp;*Security (the Deenish EDD Review)* | &nbsp;&nbsp;In 2 of the 200 mortgage assets (i.e. 1%), while the seller had first ranking security, the security is in the form of a caution only. | &nbsp;&nbsp;The amount of loans impacted by the identified issues identified is a reasonably small percentage of the sample size reviewed and is broadly in line with what we would expect to see on a transaction and portfolio of this type. |
| &nbsp;&nbsp;*Security (the Deenish EDD Review)* | &nbsp;&nbsp;In 1 of the 200 mortgage assets (i.e. 0.5%), while the seller had first ranking security, the security is in the form of a lien only. | &nbsp;&nbsp;The amount of loans impacted by the identified issues identified is a reasonably small percentage of the sample size reviewed and is broadly in line with what we would expect to see on a transaction and portfolio of this type. |
| &nbsp;&nbsp;*Missing documents* | &nbsp;&nbsp;The Deenish DD Report references a number of cases of missing / incomplete documentation being uploaded to the Project Deenish data room. | &nbsp;&nbsp;This is not unusual, particularly in respect of historical loans. |
| &nbsp;&nbsp;*Regulatory review* | &nbsp;&nbsp;Distance Marketing Regulations – the report discloses that none of the standard documents appear to have been prepared for compliance with the DMR. | &nbsp;&nbsp;As above. |
| &nbsp;&nbsp;*Regulatory review* | &nbsp;&nbsp; ***UTCCR*** – the Deenish DD Report identifies certain provisions of the borrower files that could be deemed to be unfair under the Unfair Terms in Consumer Contracts Regulations.<br> The UTCCR provides that an unfair term will be unenforceable against the borrower. | &nbsp;&nbsp;As above. |
| &nbsp;&nbsp;*Default interest* | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 9 of the 22 standard loan documents / terms and conditions (i.e. c.41%) do not provide an express ability to charge default interest.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● 3 of the 13 standard mortgage documents (i.e. c.23%) do not provide an express ability to charge default interest. | &nbsp;&nbsp;The Deenish DD Report confirms that with regard to the documents reviewed, in instances where the default interest provisions are not included in the standard mortgage documents, they are covered in the individual loan documents and vice versa. |
| &nbsp;&nbsp;*Litigation* | &nbsp;&nbsp;The inward litigation tracker notes there were 15 cases live at the time of the Project Deenish DD Report. | &nbsp;&nbsp;It is unclear if CarVal was substituted into any of these cases. In any event, we will be provided with an up-to-date inward litigation tracker for this deal and GS will have discretion as to what they want to be substituted in for. |
| &nbsp;&nbsp;*Litigation* | &nbsp;&nbsp;The outward litigation tracker notes there were 518 cases in which the Seller (in respect of the Deenish portfolio) was a Plaintiff at the time of the Deenish DD Report. | &nbsp;&nbsp;CarVal had discretion as to which of these to take forward, as will GS for this transaction. In any event, we will be provided with an up-to-date outward litigation tracker for this deal. |
| &nbsp;&nbsp;*Assignability* | &nbsp;&nbsp;1 of the 22 (i.e. c.4.5%) standard loan documents (VDR Ref 3.4.2.6.1, Mortgage 10) contain an unusual transfer / power of sale clause which could restrict when the relevant mortgages can be assigned till after the power of sale has become exercisable. | &nbsp;&nbsp; This is unusual however affects a very small proportion of the standard loan documents. We suggest asking Carval for information as to how many loan assets were originated pursuant to those specific documents. We further note that the power of sale will become enforceable upon "*(i) default made by the mortgagor for 1 month in payment of some instalment payable under the mortgage; (ii) breach by the mortgagor of some covenant on his part in the mortgage or some covenant in statute or implied in the mortgage*". Given the Deenish portfolio consists of non-performing or re-performing loans, it is presumably likely that the power of sale, and thus power to transfer, has already been triggered.<br> Position regarding Deenish securitisation and possible exclusion of these loans to be determined. |

---

4 REVIEW OF PROJECT SKELLIG DUE DILIGENCE ACQUISITION REPORT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 We have reviewed the due diligence report dated 25 July 2023 prepared by Arthur Cox in respect of
the Project Skellig portfolio (titled ' *Legal Due Diligence Report Project Skellig* '; 152 pages) (the Skellig
DD Report). Below is a summary of the documents reviewed by Arthur Cox in preparing the Skellig DD Report:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1 regulatory review of 17 Borrower files;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2 contractual review of 17 standard residential mortgage documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3 contractual review of 17 standard residential loan documents / terms and conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.4 contractual review of 1 standard offset mortgage document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.5 contractual review of 1 standard offset loan documents / terms and conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.6 contractual review of 4 standard personal loan documents / terms and conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.7 contractual review of 3 bespoke personal loan documents / terms and conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.8 contractual review of 8 standard commercial mortgage charge and assignment,
guarantee documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.9 contractual review of 8 standard commercial loan documents / terms and conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.10 security review of 100 mortgage asset files (the " Skellig
EDD Review "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.11 review of inward / outward litigation tracker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Executive Summary

While we have identified a number of points of potential materiality in the Skellig DD Report, other than as specified below, the identified issues are, in our view, common issues that arise with a transaction and portfolio of this nature; and in respect of the Skellig EDD Review, the amount of loans impacted by the identified issues identified is a reasonably small percentage of the sample size reviewed and is broadly in line with what we would expect to see on a transaction and portfolio of this type.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Findings

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|:---|:---|:---|
| **Issue identified** | Details | ALG commentary |
| &nbsp;&nbsp;*Security (the Skellig EDD Review)* | &nbsp;&nbsp;In 6 of the 100 mortgage assets (i.e. 6%), issues have been raised in relation to 3rd party interest registered in addition to borrower, borrower not registered owner, seller security not registered and prior charges. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● This would mean that CarVal potentially did not acquire first ranking priority over those mortgage assets.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A first ranking charge warranty is being provided by the Seller.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We have sought advice from Pepper in relation to the affected mortgage assets. Pepper advised that they were unable to comment on specific assets and broadly noted that, "*In terms of remediation, we don't target EDD issues/flags post migration. This would be expensive and in some cases would not add value. For example, while there might be an issue with the title borrowers might continue to pay, perform to terms and we have no reason to engage in remediation. If we are forced to look at alternative solutions (enforcement, sale, litigation) we would look at the issues at that time and in conjunction with borrower engagement, resolution strategy, etc.*" |
| &nbsp;&nbsp;*Security (the Skellig EDD Review)* | &nbsp;&nbsp;In 9 of the 100 mortgage assets (i.e. 9%), there is no security registered and in respect of 3 of those 9 assets, security is not capable of registration. | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● This would mean that CarVal potentially did not acquire first ranking priority over those mortgage assets.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A first ranking charge warranty is being provided by the Seller.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We have sought advice from Pepper in relation to the affected mortgage assets. Pepper advised that they were unable to comment on specific assets and broadly noted that, "*In terms of remediation, we don't target EDD issues/flags post migration. This would be expensive and in some cases would not add value. For example, while there might be an issue with the title borrowers might continue to pay, perform to terms and we have no reason to engage in remediation. If we are forced to look at alternative solutions (enforcement, sale, litigation) we would look at the issues at that time and in conjunction with borrower engagement, resolution strategy, etc.*" |
| &nbsp;&nbsp;*Missing documents* | &nbsp;&nbsp;The Skellig DD Report references a number of cases of missing / incomplete documentation being uploaded to the Project Skellig data room. | &nbsp;&nbsp;This is not unusual, particularly in respect of historical loans. |
| &nbsp;&nbsp;*Regulatory review* | &nbsp;&nbsp;Distance Marketing Regulations – the report discloses that none of the standard documents appear to have been prepared for compliance with the DMR. | &nbsp;&nbsp;As above. |
| &nbsp;&nbsp;*Regulatory review* | &nbsp;&nbsp; **UTCCR** – the Skellig DD Report identifies certain provisions of the borrower files that could be deemed to be unfair under the Unfair Terms in Consumer Contracts Regulations.<br> The UTCCR provides that an unfair term will be unenforceable against the borrower. | &nbsp;&nbsp;As above. |

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| &nbsp;&nbsp; *Variability of Interest* | &nbsp;&nbsp; Arthur Cox note that:<br> *"the reviewed residential offer letters do not contain an express right for the Lender to vary interest rates. Condition 14(a) provides that "all Loans are subject to the Bank's Mortgage Rate at the date the Loan is drawn down".*<br> *The Banks Mortgage Rate is defined as the "interest rate as may from time to time be applicable to the Loan". Condition 15 (The Monthly Payment) goes on to say that "[t]he Monthly Payment may be increased or reduced so as to take account of any provide for any increase or reduction in the Bank's Mortgage Rate…".*<br> *The Offer Letters reviewed by us contain a front page warning that "[t]he Payment Rates on this Housing Loan may be adjusted by the Lender from time to time". The reviewed Offer Letters also set out the impact of an increase in rates and further s state that the Monthly Payment Amount is based on the current variable rate.]*<br> *The definition of Banks Mortgage Rate is a little unclear and circular and ideally the Conditions would make clear that the Banks Mortgage Rate can be varied by the Lender from time to time. However, the combination of Condition 15 and the Warning on the front page of the Offer Letter appear clear to us that the Borrower should be aware that the interest on a variable rate may be adjusted from time to time. However, an argument can be mounted by a Borrower that the variable rate was set at the date of drawdown, although we do not think this should succeed.*<br> *This issue is relevant to the Resi Loans that have always been on the Bank Mortgage Rate, those that started on a fixed rate provide more clarity on the rights of the Lender to to vary the rates. The reviewed Offer Letters and the Loan Conditions do not provide that references to the Bank or the Lender include its successors and assigns and hence does not state that any assignee specifically has the right to set the variable rate or adjust the Bank's Mortgage Rate. However, for the reasons set out above in our view the rights of the Sellers under the Loans are assignable and that should include all the rights of the Seller including the right to set the variable rates. There is however a risk that a borrower will argue that any such rate should be linked to the Seller's Rate (i.e. the Bank's rate) from time to time.*<br> *In the current high interest rate environment there is always a risk that a Court (or the Central Bank under its conduct of business rules) could take a view that even where a loan is assignable the right of an assignee to set the variable rates is not an entirely unfettered right particularly in circumstances where the rate being charged by an assignee is significantly more than the rate historically charged by the Sellers or in the market generally. See further below (Appendix 5 section 2.5) for a general commentary on SVRs and the current environment.*<br> *It is hard to say how a Court or the Central Bank would approach a situation where the original lender has exited the market, the documents do not contemplate this. As set out above in those circumstance the Court (or the Central Bank) may require variable rates to be set by reference to the market rates or may take a different approach in construing what is meant by the Bank Rate in these circumstances."* | &nbsp;&nbsp; This appears to be a reasonable view based on the description provided by Arthur Cox.<br>|
|  | &nbsp;&nbsp;One residential offer letter and the offset offer letter contain a condition stating that *"[t]the rate of interest applicable will never be higher than the European Central Bank ("ECB") base rate plus 1.15%*". | &nbsp;&nbsp;In the Skellig DD Report, Arthur Cox confirms that such a condition would only have been added in the past as an ad hoc special condition in certain residential mortgages and while they could not confirm this with certainty, the seller of the Skellig portfolio expected the number impacted to be low. |

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|:---|:---|:---|
| &nbsp;&nbsp;*Cost of Funds* | &nbsp;&nbsp;The commercial loan conditions refer to a Cost of Funds Rate and the Data Room contains 102 Cost of Funds Facilities. Bespoke Personal Loan Conditions with data room reference 12.14.11 and 12.14.12 also use the same interest rate provision as the 2007 Commercial Loan Conditions. The Skellig DD report notes that in respect of Costs of Funds Rates, it is unlikely that a proposed servicer will incur costs raising funds "in the market" and thus the definition / calculation is flawed. | &nbsp;&nbsp;For noting. |
| &nbsp;&nbsp;*Litigation* | &nbsp;&nbsp;The inward litigation tracker notes there were 5 cases in which the Seller (in respect of the Skellig portfolio) was a Defendant at the time of the Project Skellig DD Report. | &nbsp;&nbsp;It is unclear if CarVal was substituted into any of these cases. In any event, we will be provided with an up-to-date inward litigation tracker for this deal and GS will have discretion as to what they want to be substituted in for. |
| &nbsp;&nbsp;*Litigation* | &nbsp;&nbsp;The outward litigation tracker notes there were 1145 non-commercials and 91 commercial cases in which the Seller (in respect of the Skellig portfolio) was a Plaintiff at the time of the Skellig DD Report. | &nbsp;&nbsp;CarVal had discretion as to which of these to take forward, as will GS for this transaction. In any event, we will be provided with an up-to-date outward litigation tracker for this deal. |
| &nbsp;&nbsp;*Assignability* | &nbsp;&nbsp; Arthur Cox note that the residential loan offer letters reviewed do not contain an express prohibition on transfer. However, they also note that:<br> *"Reference is made in the Offer Letters (save for Data Room reference 11.3.3.4.1.1.2) to the Borrower being required to specifically confirm and understand that the loan and security is freely transferable as part of a "loan transfer and securitisation scheme" by signing a specific acceptance.*<br> *The language "loan transfer and securitisation scheme" in the Offer Letters is cumulative. Therefore, it is arguable that, for those Offer Letters, the clause will be limited to a specific type of loan transfer i.e., a loan transfer that is part of a securitisation scheme. The provision refers to a "loan transfer and securitisation scheme" rather than a "loan transfer or securitisation scheme" and, therefore, suggests the transfer is part of the scheme. Although this clause could then subsequently apply when the mortgages are securitised in any event.*<br> *To the extent an offer letter with this language was signed by the borrower, there is specific acceptance of a transfer in a loan transfer and securitisation.* <br> *We do not consider that an acceptance by a borrower of a transfer in the context of a securitisation precludes the Seller assigning its interests in the Resi Loans in the context of an outright sale as in this case in this transaction. Similarly, where the acceptance is unsigned, we do not consider that this would constitute an agreement that the Resi Loan is non-assignable.*<br> *We have raised a Q&A with the Seller on whether anyone has actively struck through or contested the transfer language in an offer letter. In such circumstances there would be a strong risk that such Resi Loans could be considered to be not capable of assignment. The Seller confirmed to us "The bank are currently finishing an exercise to confirm 3rd party assignability and note nothing out of the ordinary, which is consistent with previous loan book sales".*<br> *The Seller has confirmed to us (and the Mortgage Sale Deed provides) that loans where the borrower has contested the assignment will be excluded."* | &nbsp;&nbsp;This appears to be a reasonable view based on the description provided by Arthur Cox. |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;*Disclosure* | &nbsp;&nbsp;The acknowledgement in the residential Offer Letters includes the borrower's consent for their personal data being disclosed. The Skellig DD report notes that for any loan for which the borrower (a) deleted consent to disclosure; or (b) indicated that they did not accept the consent in a side letter, consideration needs to be given to the lawful basis under the EU General Data Protection Regulation ("GDPR") for the transfer of personal data relating to such borrowers to the Servicer. | &nbsp;&nbsp;The Skellig DD Report does not flag specific examples of consent being deleted and noted that the seller had confirmed to Arthur Cox that it had satisfied itself that it had a legal basis for the transfer of any personal data. |
| &nbsp;&nbsp;&nbsp;*Various Remediation Issues* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are a number of remediation issues identified in respect of Project Skellig (for example, miscalculation of interest, miscalculation of interest period etc.). It seems that the majority of these issues have now been remediated in full but the Skellig DD report does note that "*there is residual risk that notwithstanding the fact that Ulster Bank considered these remediation projects as completed, a borrower could make a future claim for compensation or remedial action*". The primary issues we identified in this regard are set out below:<br> <u>(i) ***Hawthorn***</u> – this was the result of two complaints to the FSPO in respect of "Mortgage Manager" issues.<br>1. **FSPO Decision**: Ulster Bank believes that the FSPO is fundamentally incorrect in the legal analysis underpinning the decisions and as a result, appealed these decisions to the High Court. The decision was handed down on 22 June 2023 and the High Court refused Ulster Bank's appeals and affirmed the decisions of the FSPO. The High Court found that Ulster Bank did not establish that the FSPO had made a serious or significant error in their decisions In particular, the court upheld the decision of the FSPO that UB had breached the Consumer Protection Code in failing to make it clear to the notice parties that the tracker rate they had been on may not be an "alternative available product" once the fixed term rate came to an end or when the parties chose to move off it. <br>2. **Current Status of Litigation**: Ulster Bank appealed the decision to the Court of Appeal on a question of law. The appeal was heard in February 2024 in front of **[REDACTED]**, **[REDACTED]** and **[REDACTED]**. Judgment on the matter is awaited. While the appeal is pending, the decisions of the FSPO do not take effect and may not be implemented. <br>3. **Impact on current loan sale:** Ulster Bank have conducted an internal investigation to identify mortgage assets which may be impacted by the matters referred to above. As of 8 May 2024, Ulster Bank have identified **220 loans** within the Skellig portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are a number of remediation issues identified in respect of Project Skellig (for example, miscalculation of interest, miscalculation of interest period etc.). It seems that the majority of these issues have now been remediated in full but the Skellig DD report does note that "*there is residual risk that notwithstanding the fact that Ulster Bank considered these remediation projects as completed, a borrower could make a future claim for compensation or remedial action*". The primary issues we identified in this regard are set out below:<br> <u>(i) ***Hawthorn***</u> – this was the result of two complaints to the FSPO in respect of "Mortgage Manager" issues.<br>1. **FSPO Decision**: Ulster Bank believes that the FSPO is fundamentally incorrect in the legal analysis underpinning the decisions and as a result, appealed these decisions to the High Court. The decision was handed down on 22 June 2023 and the High Court refused Ulster Bank's appeals and affirmed the decisions of the FSPO. The High Court found that Ulster Bank did not establish that the FSPO had made a serious or significant error in their decisions In particular, the court upheld the decision of the FSPO that UB had breached the Consumer Protection Code in failing to make it clear to the notice parties that the tracker rate they had been on may not be an "alternative available product" once the fixed term rate came to an end or when the parties chose to move off it. <br>2. **Current Status of Litigation**: Ulster Bank appealed the decision to the Court of Appeal on a question of law. The appeal was heard in February 2024 in front of **[REDACTED]**, **[REDACTED]** and **[REDACTED]**. Judgment on the matter is awaited. While the appeal is pending, the decisions of the FSPO do not take effect and may not be implemented. <br>3. **Impact on current loan sale:** Ulster Bank have conducted an internal investigation to identify mortgage assets which may be impacted by the matters referred to above. As of 8 May 2024, Ulster Bank have identified **220 loans** within the Skellig portfolio. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Note:</u>** an indemnity in respect of Hawthorn is being provided in the Mortgage Sale Deed.<br><u>(ii) ***Offset Mortgages* (OFMs)**</u><br> These are mortgage products which were historically provided by Ulster Bank as originator and as a result of the acquisition of First Active. The key aspect of the products is that a customer can benefit from a reduced interest payment on their mortgage by virtue of holding funds in one or more linked / associated accounts held with the Originator which can be offset against the outstanding mortgage balance in determining the interest payable on the customer's mortgage. In essence, the amounts held in the relevant accounts are offset against the mortgage balance, resulting in lower interest payments.<br>● The remediation proposal (the **OFM Proposal**) is to remove / 'turn-off' the offset feature and the closure of the associated current accounts and (in the case of OFM's) the deposit accounts and to send customer communications informing the customer of the removal of the offset features and / or closure of the relevant accounts and, where relevant, loss of payment card functionality.<br>● In our view, there are a number of regulatory risks with the OFM Proposal and if any of these risks crystallised they could potentially ultimately force Ulster Bank to unwind the change and put the borrower back on an OFM (and provide compensation for the borrower). <br>● The key risks are:<br>⮚ the borrowers could challenge the removal of the features and functionality of the accounts by the Seller on a unilateral basis as unfair under the Consumer Rights Act 2022 or the UTR;<br> ⮚ a borrower refuses to engage in the customer communication process and/or accept the goodwill payment (and therefore not consent to the changes);<br> ⮚ the Seller commits a breach of the general principles of the CPC 2012 and/or the Central Bank could deem the Seller's conduct during that process as a breach;<br> ⮚ the Central Bank launches a future investigation in respect of OFM's and/or the OFM Proposal; and<br> ⮚ a future servicer may also have to assist the Seller in a remediation process/regulatory investigation which would result in an additional administrative burden for the servicer and additional costs. <br>**<u>Note:</u>** an indemnity in respect of OFMs is being provided in the Mortgage Sale Deed.<br><u>(iii) ***Pay and Redraw feature***</u> ***(in respect of offset mortgages).***<br> We have carried out some further diligence on this. The Pay and Redraw feature is contained within Section F of Offset Mortgages conditions. The key term is "Available Facility", which is defined "as any monies where there is a difference between the Facility and the Total Borrowing and represents the amount the customer may withdraw at any time subject to Ulster Bank's approval". Clause 2.3 then provides that the customer is not able to instruct Ulster Bank to make payments from their Account unless the customer has an Available Facility. Therefore, where a customer has an Available Facility, it appears that they are able to request a drawdown of an amount equal to the Available Facility.<br> Clause 18 of the terms and conditions goes on to provide that Ulster Bank may write to the customer to require immediate repayment of all or part of the Total Borrowings **<u>and forbid any future withdrawals from the Account if</u>**: (note: below is non-exhaustive, we have set out the most relevant):<br> o without Ulster Bank's prior approval, the Customer exceeds the Facility and the excess is not repaid within one month of notice;<br> o the customer fails to make the equivalent of two Monthly Payments;<br> o the customer fails to make any other payment due to Ulster Bank and such payment is outstanding for more than one month;<br> o the customer breaches any requirement contained or referred to in the loan offer letter, the terms and conditions and the mortgage conditions; or<br> o the customer defaults under any loan agreement or other agreement or obligation relating to borrowing from Ulster Bank or under any guarantee to Ulster Bank.<br> This does on its face allow Ulster Bank to refuse to provide an advance where the customer breaches a term. However, while the contract may provide for this, it is important to note that there would be a consumer overlay to this, which is why we expect Ulster Bank adopted the policy of allowing redraws if a customer that had previously defaulted to draw if it had no arrears for two years and this would in general terms make sense to us.<br>

**Schedule 1 TERMS OF REFERENCE**

The following are the terms upon which this Report is made available by ALG:

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| 1 | This Report is addressed to, and provided for the sole benefit of the Goldman Sachs International Bank and is being provided to it in connection with the Original Penryn Transaction. It is confidential and subject to legal professional privilege, and it is not to be disclosed or relied upon by any third party for any reason whatsoever without our prior written consent. This Report may be transmitted to the affiliates, officers, employees and advisers engaged/involved in the Original Penryn Transaction for Goldman Sachs International Bank (but may not be relied on by them). |

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| 2 | This Report is limited in its depth and scope due to the fact that we have reviewed only the documentation we have identified herein (the **Documentation**) and we have not reviewed (or been asked by the Purchaser to review) any other documents. For example, where we have reviewed a DD Report we have not (unless explicitly stated otherwise) reviewed the underlying documentation, searches, certificates or other matters referred to in the relevant DD Report or upon which it was, or should have been, based and our report conclusions are limited accordingly. Such information may not be all such information needed by the Purchaser to make an informed decision as to whether it proposes to proceed with the Original Penryn Transaction. |

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| 3 | Please note that we have only reviewed the Documentation relating to legal matters and relevant areas of enquiry as instructed and identified by the Purchaser. This Report is not aimed at and should not be relied upon as an analysis or assessment of either the commercial issues involved in, or the economic viability or effects of, the Original Penryn Transaction. |

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| 4 | As requested, our review was limited to a review of the Documentation to identify any material red flag issues identified in the Documentation (the **Scope**). This Report gives a short summary of those material red flag issues and briefly summarises preliminary findings based upon information received. It is not intended to be, and does not in any way constitute, a comprehensive review or an exhaustive report of all legal issues relating to the Original Penryn Transaction. |

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| 5 | No surveys of, or physical inspection or investigations in respect of secured properties have been carried out. The accuracy of this Report is dependent upon the accuracy and completeness of the Documentation. Any material discrepancies of which you are aware should be reported to us and this Report will be amended accordingly. Of necessity also, the interpretation of the Documentation is based on what is reasonably apparent from the face of the relevant Documentation. No independent verification of the accuracy or completeness of the information provided to us has been carried out. |

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6 In reviewing the Documentation, the following assumptions have been made by us:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 all opinions, statements and views expressed in the Documentation were, when expressed, honestly held
by the relevant declarant on reasonable grounds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 the Documentation and each document reviewed in connection with the preparation of such Documentation
is a true and correct copy of the original of such document and contains the entire understanding of and the full terms of agreement reached
between the parties to such document in connection with the subject matter of such document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 all information contained in the Documentation is true, accurate and not misleading.

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| 7 | Save where expressly provided otherwise in this Report, we have not carried out due diligence in respect of, or otherwise investigated or reported on, any matters affecting or capable of affecting the Purchaser relating to taxation, accounting, financial or general regulatory compliance (save where specifically referenced). |

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| 8 | No report is made or opinion expressed on the commercial, financial or technical consequences of, or nature or context of, the transactions and other matters referred to in the Documentation. No opinion is given or purported to be given on the commercial, financial or technical worth or effect of the Documentation. |

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9 Reliance should not be placed solely on the summaries contained in this Report, which are not intended to be exhaustive summaries of the material provisions of any document or of any matter.

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| 10 | This Report is limited to matters of Irish law and it does not report or advise on the laws of any other jurisdiction and in particular on any issues pertaining to interests governed by laws other than Irish law including any regulatory regimes which may apply to the sellers in any other country other than Ireland. Subject to the foregoing, any review or comment by us on any part of the Documentation which is not governed by Irish law is on an unreliance basis and from a common sense perspective only and assumes the applicability of general principles similar to those of Irish law. |

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11 To the extent that this Report contains reports, opinions or memoranda from any other person outside of A&L Goodbody LLP, that person remains wholly and exclusively responsible therefor.

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| 12 | The aggregate liability of A&L Goodbody LLP, its partners, employees and/or consultants, if any, for any and all claims, whether in contract, tort (including negligence) or otherwise, for any loss or damage (whether direct, indirect or consequential) suffered or incurred, directly or indirectly, as a result of or arising out of or in connection with the engagement of A&L Goodbody LLP in respect of the due diligence relating to the Original Penryn Transaction or the contents of this Report, or any related update or other communication (whether written or oral) sent by or on behalf of A&L Goodbody LLP or its partners, employees or consultants before or after the finalisation of this Report, shall in no case exceed €30,000,000. For the avoidance of doubt, this limitation shall in no way imply that any party (other than Goldman Sachs International Bank in the context of the Original Penryn Transaction) is entitled or permitted to rely on the contents of this Report for any reason whatsoever without our prior written consent. Nothing in this Report shall exclude or restrict any liability to the extent that such exclusion or restriction is prohibited by applicable laws. |

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| 13 | In certain situations, there may be a risk that we will be prejudiced as a result of your arrangements with other advisers in respect of the limitation of their liability to you. This would arise where we are one of several professionals advising you in respect of the Original Penryn Transaction and where you have agreed a limitation of liability with one or more of these advisers. If this occurs in circumstances where we could otherwise be jointly and severally liable with one or more of such other advisers in respect of a claim, you agree that our position will not be adversely affected by the limitation of such advisers' potential liability and, in particular, that any damages for which we may be liable to you shall not exceed such sum as would be appropriate if there were no such limitation of liability. |

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| 14 | This Report is **<u>not</u>** intended to constitute findings and conclusions relating to a review of pool assets for the purposes of issuing findings on: (1) the accuracy of asset data; (2) determining whether assets conform to stated underwriting standards; (3) asset values; (4) legal compliance by the relevant originator; and (5) any other factor material to the likelihood that any issuer of securities backed by loans acquired under the Original Penryn Transaction will pay interest and principal as required. |

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| 15 | The work carried out by A&L Goodbody LLP was designed to meet the agreed requirements of Goldman Sachs International Bank in respect of the Original Penryn Transaction and particular features of our engagement determined by their need at the time. This Report should not therefore be regarded as suitable to be used or relied on by any party wishing to acquire any right to bring any action against A&L Goodbody LLP in connection with any other use or reliance for any purpose or in any context. In particular, this Report was not prepared for the need, purposes or requirement of any person other Goldman Sachs International Bank. Any party other than Goldman Sachs International Bank who obtains access to this Report or a copy of it and chooses to rely on this Report (or any part of it) will do so at its own risk. To the fullest extent permitted by law, A&L Goodbody will accept no responsibility or liability in respect of this Report to any other party; and |

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16 If there are any other documents which you would like us to investigate or comment upon please let us know.

17 This Report is given with an effective date of 19 July 2024. If any events or circumstances arise after the date of this Report which may have a material effect upon the DD Reports, we will be pleased to discuss such matters with you and review them for you accordingly, if requested to do so.

Effective Date: 19 July 2024

**Schedule 2 RESTRUCTURING AGREEMENTS DUE DILIGENCE**

● We understand that the loan restructurings look in the form of a standard form Alternative Repayment Arrangement and Letter of Variation (**ARA**).

● No red flags identified from ARAs reviewed.

● We were requested to review ARAs from 20 loan connections. There was no ARA in the batch provided in respect of 2 connections. Therefore, we reviewed 18 ARA's in total.

● There were no ARA acceptances/signatures in the case of 3 connections. Therefore, of the 18 ARA's reviewed, we can only confirm that 15 are in effect. We have reviewed those 3 ARAs in any event.

● Each ARA involves a combination of either reduced monthly repayments, reduced interest rate, a term extension and/or capitalisation of arrears. A limited number involved a lump sum payment.

● None of the ARAs involve a settlement/extinguishment of debt. Rather, the ARAs operate to amend the original loan agreements.

**Schedule 3 ASSET TITLE CHECK REPORT**

● ALG conducted an essential due diligence title check for a sample number of assets relevant to the Project Penryn portfolio. A summary report *"10 Penryn – External EDD and RAG Report – Refresh - 2024-07-03"* has been provided to Goldman Sachs International Bank (GS). The 200 asset sample provided by GS were comprised of assets from the Project Temple, Project Deenish and Project Skellig loan portfolios with the allocation of sample assets per portfolio set out in Table 1 below

<u>Table 1</u>

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| &nbsp;&nbsp;**Project** | &nbsp;&nbsp;**Sample Assets** |
| &nbsp;&nbsp;Deenish (Rathlin) | &nbsp;&nbsp;106 |
| &nbsp;&nbsp;Skellig | &nbsp;&nbsp;56 |
| &nbsp;&nbsp;Temple | &nbsp;&nbsp;38 |
| &nbsp;&nbsp;**Grand Total** | &nbsp;&nbsp;**200** |

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● where available copy mortgages and title schedules were reviewed in the VDR and Tailte Eireann searches were conducted

● we recorded 142 issues, of which 133 were green with typically the only issue being that a copy of the mortgage and/or title schedule were not provided in the VDR

● review of documents uploaded for the outstanding 13 Skellig assets has resulted in an additional 13 new issues, 9 of which relate to the fact that Pepper is not yet registered as the security legal title holder. Given proximity to the completion of acquisition of these assets by the Seller we would not see these as material issues although we have requested confirmation on the current status of registration. For the remaining 4 issues, there is one red issue, one amber issue and 2 green issues. The overall current position for the 200 sample assets is as follows and set out in Table 2 below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o 4 Red assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ For Asset IDs 54878 and 51256 the only security identified was an undertaking – the response from
Pepper states "Solicitors' undertakings. No steps taken to remediate yet. Will need to establish if solicitor is trading,
borrowers engaged, and then can assess routes to resolution" suggests no action has been taken to resolve these issues since acquisition

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ A prior ranking charge was identified for Asset ID TEMP:TEM35 6167 – the response from Pepper "Costs
€2,000 to get liquidator to execute the release so we would not consider this an issue". We have requested confirmation that
they at least hold a letter of non-reliance from the liquidators of IBRC

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Asset ID URI_00108334 has no evidence of any security registered

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o 5 Amber assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ For Asset ID 54226 the title schedule was not available in the VDR and there was a discrepancy between
the borrower name and the registered owner of the asset

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ For Asset ID 305117200_3 there were no documents s available in VDR and the interest of 3rd parties on
title needs clarification

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ For Asset ID 51127 there were no documents available in the VDR for this Registry of Deeds asset and
therefore only a speculative search could be conducted

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ For Asset ID 54038 there was no evidence of registered security however a dealing including a charge
does appear to be pending against the folio and clarification

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Asset ID 360071 has a First Active caution registered against the folio which requires further explanation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o 124 Green assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Of note for Asset IDs (TEMP:TEM264606, TEMP:TEM370190, TEMP:TEM368803, TEMP:TEM422448, TEMP:TEM426994,
51105 and 54946 searches evidence that the property has been sold or charge released

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ For Asset IDs 362377 and UFA_00071505 no documents have been provided yet

<u>Table 2</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**ALG RAG Status** | &nbsp;&nbsp;**Rathlin** | &nbsp;&nbsp;**SKELLIG** | &nbsp;&nbsp;**Temple** | &nbsp;&nbsp;**Grand Total** |
| &nbsp;&nbsp;Red | &nbsp;&nbsp;2 | &nbsp;&nbsp;1 | &nbsp;&nbsp;1 | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Amber | &nbsp;&nbsp;3 | &nbsp;&nbsp;2 |  | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Green | &nbsp;&nbsp;101 | &nbsp;&nbsp;18 | &nbsp;&nbsp;14 | &nbsp;&nbsp;133 |
| &nbsp;&nbsp;No Issue |  | &nbsp;&nbsp;35 | &nbsp;&nbsp;23 | &nbsp;&nbsp;58 |
| &nbsp;&nbsp;**SAMPLE ASSETS - Grand Total** | &nbsp;&nbsp;**106** | &nbsp;&nbsp;**56** | &nbsp;&nbsp;**38** | &nbsp;&nbsp;**200** |

---

In summary, the identified issues are, in our view, common issues that arise with a transaction and portfolio of this nature; the number of assets impacted by the identified issues is a reasonably small percentage of the sample size reviewed and is broadly in line with what we would expect to see on a transaction and portfolio of this type

A file entitled *Penryn Title Check Issue Log for Pepper 2024 -07-03 (from ALG)* has been provided to Pepper and responses to 23 open issue are awaited

[Subject to Pepper responses to further queries.]

**Schedule 4 REGULATORY, CONSUMER AND RELATED CORRESPONDENCE REPORT**

We have reviewed only, and relied on, the documents titled 'Skellig Remediation Memorandum' (**SRM**), 'Hawthorn Indemnities Memorandum (13.06.2024)', 'MoU signed by Pepper' and 'SkelligOffsetMOUsignature' in preparing the below summary.

The SRM outlines detailed information regarding twelve remediation programmes that were subject to regular engagement with the Central Bank of Ireland (**CBI**), it states that the CBI were kept updated of the progress and customer treatment resolution frequently and that this engagement per programme with the regulator continued until all customers were remediated. A summary of the respective remediation projects is outlined in the table below.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Project** | &nbsp;&nbsp;**No. of Skellig accounts impacted** | &nbsp;&nbsp;**ALG Summary** | &nbsp;&nbsp;**Remediation status per SRM** |
| &nbsp;&nbsp;**Project Icarus** | &nbsp;&nbsp;452 | &nbsp;&nbsp;CMS customers who had arrears at the time of their annual recalculation event which resulted in an auto-capitalisation occurring and arrears also being requested from customers at the same time. | &nbsp;&nbsp;Completed August 2020 |
| &nbsp;&nbsp;**Project Mull** | &nbsp;&nbsp;372 | &nbsp;&nbsp;Errors impacting the Client Management System (**CMS**) mortgage application were identified which resulted in the misstatement of the customer arrears positions. | &nbsp;&nbsp;Completed September 2021 |
| &nbsp;&nbsp;**Project Skye** | &nbsp;&nbsp;30 | &nbsp;&nbsp;An error impacted customers in financial difficulty that were being managed by Cabot on behalf of Ulster Bank, where customers had agreed an Alternative Repayment Arrangement (**ARA**) with Cabot, but the agreed ARA was not implemented on the UBIDAC systems. | &nbsp;&nbsp;Completed Q3 2021 |
| &nbsp;&nbsp;**Project Carmine** | &nbsp;&nbsp;239 | &nbsp;&nbsp;Mortgage Manager customers that had forbearance periods end with incorrect reconciliations having taken place, resulting in their arrears balance including "technical arrears" where the manual process failed. | &nbsp;&nbsp;Completed Q2 2020 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Project Spruce** | 652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Two similar errors that resulted from operational process failures when managing customer arrears processes:<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A process error of capitalising and/or adjusting the mortgage level arrears on GMS, whereby a manual arrears adjustment is keyed to one subaccount or across multiple subaccounts, that leaves the mortgage in a credit/debit arrears position at sub-account level at the end of the day on the date the adjustment transactions were keyed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● A process error whereby a recalculation of a customer's Normal Monthly Repayment ('NMR') was not completed upon expiry of a forbearance deal or payment break.<br>This project specifies that "*Remediation of these customers will be **complete by 31/10/2023**. There is no expectation that any support or follow up activity will be required by the sold loan purchaser".* Confirmation should be sought to confirm that UB have completed the Project Spruce remediation project. | Planned to be completed 31 October 2023 – confirmation required |
| **Project Green** | 123 | Customers who had composite insurance repayments that also went into arrears, were charged interest on the full arrears, including any missing insurance payment. | Completed Q1 2021 |
| &nbsp;&nbsp;**Project Magenta** | &nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Three errors were grouped together and remediated under Project Magenta, which identified and remediated all customers impacted by these errors on the GMS mortgage application:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● MUB 118 – this error identified that some customers who had an Alternative Repayment Arrangement ('**ARA**') recorded on the Flex database and managed on GMS or CMS, and who later had that ARA expired earlier than the original end date may have continued to have the ARA reported as a live deal until the original end date.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● MUB 123 – this error identified that some GMS mortgage customers had a duplicate or multiple payment expectation recorded on their account in error.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● MUB 128 – this error identified that some accounts subject to certain ARAs did not:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. revert to the required interest rate on the date the ARA had been agreed to expire or was broken (the "**End Date**"), resulting in a higher or lower interest rate being charged after the End Date than should have been charged and / or<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. revert to Capital & Interest repayments on the End Date. | &nbsp;&nbsp;Completed end of Q2 2020 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Tracker Mortgage Examination** | 223 | Account adjustments where required were completed and redress and compensation has been paid to the impacted customers. The majority of TME impacted accounts were remediated by programme closure in July 2019. There was a small volume of accounts added to the population since then which were remediated as and when impact was confirmed. Accounts that were "Address not Verified" were remediated via Alternative Funds Allocation by June 2021. This project specifies that *"Other tail activity to ensure all funds are cashed continues".* Confirmation should be sought to confirm that UB have completed the Project Spruce tail activities. | &nbsp;&nbsp; Majority were remediated by July 2019. There was a small volume of accounts added to the population since then which were remediated as and when impact was confirmed. Accounts that were "Address not Verified" were remediated by June 2021.<br> Confirmation required re tail activities.<br>|
| **Mizen/Mulberry Mortgage Interest Rate Review** | Mizen - 191 | Where a product was withdrawn within the period between the loan offer and drawdown, UBID may have provided a replacement product, with a slightly higher interest rate without notification to the customer. | Completed Q1 2020 |
| **Mizen/Mulberry Mortgage Interest Rate Review** | Mulberry - 73 | As above in respect of Mizen, and where the customer drew down on a fixed or discounted variable product, the customer rolled to a lower or higher variable rate earlier or later than the date outlined in the loan offer. | Completed Q2 2020 |
| **Project Chestnut** | 1 | Customers who previously submitted a complaint to the Bank and drew down on a non-Tracker product were assessed for similar impacts to the FSPO case and offered a goodwill payment. | No account adjustments were required. A goodwill payment of €250 was issued for the mortgages impacted under Project Chestnut. |
| **Project Willow** | 225 | In 2017, UBIDAC identified that certain lending agreements entered prior to 2012 did not contain variation rights that permitted it to charge the higher post 2012 COF rate to those accounts. Project Willow was established to refund any interest that was overcharged on any such account, and a 'forward fix' was also introduced by UBIDAC Commercial Banking Division to charge the pre 2012 COF rate to any of the Willow-impacted accounts that were still open. | Completed October 2019 |
| **Project Java** | 218 | &nbsp;&nbsp; In 2021, UBIDAC identified that the pre 2012 COF interest rates provided by UBIDAC Treasury for the Project Willow remediation programme, and the Forward Fix introduced to charge the pre 2012 COF rate to Willow-impacted accounts that were still open, were not rounded down to the nearest one twentieth of one per cent (0.05%)). As a result, refunds paid by Project Willow were understated by up to 0.05% worth of interest; and the COF interest rates charged to customers in the Forward Fix may have been overstated by up to 0.05%.<br> This project specifies that "*Remediation of impacted accounts **is planned to be completed on 26 May 2023**. No account adjustments were required but payments were made to customers via cheque or account lodgement where appropriate in line with customer treatment decisions. There is no expectation that any work or support will be required by the sold loan purchaser."* Confirmation should be sought to confirm that UB have completed the Project Java remediation project. | Planned to be completed 26 May 2023 – confirmation required |

---

The Central Bank have previously provided guidance**<sup>[1]</sup>** reiterating that where failures or weaknesses are identified in the treatment of one customer or a group of customers, an impact assessment should be undertaken so that issues are addressed for all customers in a similar position. Firms should then undertake follow-up actions to appropriately remediate the position for all affected customers, without having to wait for a complaint or other prompt from other impacted customers. In addition, in cases where issues are to be resolved on the initiative of the firm, remediation should be accompanied by full disclosure to provide transparency and accountability on the remediation plan. From the document titled 'Skellig Remediation Memorandum', it appears that the scope of UBIDAC's review in each case, was dependant on the type of error(s) involved in the specific project and, as such, in some cases UBIDAC narrowed the scope of review e.g. all customers who had arrears associated with their CMS mortgage account were in scope for Project Icarus as this project concerned CMS customers who had arrears. The Purchaser may consider asking Carval to confirm with UBIDAC that as part of the above projects, UBIDAC is satisfied that where failures or weaknesses have been identified, it has conducted an appropriate impact assessment in respect of each project and that all customers in a similar position to those impacted in the projects have had their respective issues addressed as part of the relevant remediation project.

The document titled 'Hawthorn Indemnities Memorandum (13.06.2024)' is a memorandum from Arthur Cox dated 13 June 2024, which outlines the following points:

● Describes the ongoing litigation in relation to the Hawthorn Mortgage Assets, noting that following the decision of the High Court (which found in favour of the FSPO), UB appealed the decision to the Court of Appeal on a question of law. The appeal was heard in February 2024 and judgment on the matter is awaited.

● As of 8 May 2024, UB have identified [220] loans within the Skellig portfolio and [641] loans within the Deenish portfolio as being potentially Hawthorn Mortgage Assets. UB has indicated that this represents a very wide interpretation of the potential impact of Hawthorn, and UB intends to provide more clarity as to the affected perimeter in the coming weeks.

● At the time of the sale of the Skellig and Deenish portfolios, Braunton Property Finance DAC and Dennett Property Finance DAC (the "**Sellers**") received indemnities from UB (the "**UB Indemnities")** in the relevant underlying mortgage sale agreements. In respect of Skellig, the indemnity is specific to the Hawthorn Mortgage Assets. In respect of Deenish, the indemnity includes any assets which are subject of any 'Redress Scheme Determination'.

The document titled 'MoU signed by Pepper' is a Memorandum of Understanding ('**MoU**') from Ulster Bank that is addressed to Pepper and Carval. The MoU discusses the pay and redraw feature (the "Relevant Feature") of the Relevant Mortgage Assets and sets out that Pepper is not intending to remove the Relevant Feature from borrowers under the Relevant Mortgage Assets. The MoU goes on to clarify the limited circumstances in which Pepper may exercise their rights to remove the Relevant Feature:

● in respect of any Borrower who is deemed not co-operating for the purposes of the Code of Conduct on Mortgage Arrears (or any other successor code or legislation);

● on an ad-hoc basis where the borrower is failing to engage with Pepper and steps are required to be taken in order to protect Pepper's security position on individual cases;

● where required to put in place a restructuring agreement who which a Borrower is party and where the Borrower does not object to the removal of the Relevant Feature;

● where required under applicable law; and

● in all circumstances, Pepper will only remove the Relevant Feature in accordance with its rights under the governing terms and conditions of the Relevant Mortgage Assets and in compliance with all applicable law and regulation (including regulatory conduct obligations).

In keeping with Ulster Bank's treatment of the Borrowers to date, the Relevant Feature won't be made available to any Borrower who has missed any scheduled payments in the previous 24 months.

The 'MoU signed by Pepper' has been duly signed by both Ulster Bank and Pepper Finance Corporation (Ireland) Designated Activity Company. The document titled 'SkelligOffsetMOUsignature' includes a countersignature page executed by Carval.

------

**<sup>[1]</sup>** Central Bank of Ireland Guidance on Securing Customer's Interests (March 2024)

**Schedule 5 LITIGATION TRACKER REVIEW**

● We have carried out a review of two litigation trackers provided namely, the Skellig Litigation Tracker and the Deenish CCMA Litigation Tracker. We have set out below a high level overview of the Defendant Litigation (Inward) and Plaintiff Litigation (Outward).

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Tracker** | &nbsp;&nbsp;**Type of Litigation** | &nbsp;&nbsp;**No of cases** | &nbsp;&nbsp;**ALG Comments** |
| **Skellig** | **Defendant** | 1 | We understand that the property in question is being sold and the account will be then redeemed based on all inbound solicitor correspondence. The Seller will retain control of all Defendant Litigation post-closing. |
| **Skellig** | &nbsp;&nbsp;**Plaintiff** | &nbsp;&nbsp;159 | &nbsp;&nbsp;159 Circuit Court possession cases. Obligation in the MSD for the Purchaser to substitute into all Plaintiff Litigation. The Purchaser will have discretion as to which of these cases they wish to take forward. |
| **Deenish** | **Defendant** | 11 | &nbsp;&nbsp; There are a total of 11 cases listed on the inward side for the Deenish portfolio. There is a mixture of Circuit Court and High Court cases. The Seller will retain control of all Defendant Litigation post-closing. The live cases are as follows:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. **[REDACTED] v Pepper Finance Corporation [REDACTED]:** RDJ acting. This case is active and relates to, *inter alia*, a claim by a discharged bankrupt that he has been defamed on foot of certain reports made to the CCR.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. **[REDACTED] v Pepper [REDACTED]:** Plaintiff was unhappy with the delay in issuing title deeds and issued proceedings in relation to same.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. **[REDACTED] [REDACTED]:** Beauchamps acting. Relates to an interest rate dispute between the borrowers and Ulster Bank that migrated to Pepper with the loan. No further information provided.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. **[REDACTED] v [REDACTED] and Pepper ([REDACTED] and [REDACTED]):** RDJ acting. There are two cases here. Entry of an Appearance is the only step taken in this case since late 2022. Plaintiff claiming family home rights over one of the mortgaged properties. She is not named on any of the loans or facility letters.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. **[REDACTED] v Pepper [REDACTED]:** Beauchamps acting. Plaintiff lodged HC proceedings questioning the validity of the charge in a receivership case. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. **[REDACTED] [REDACTED]:** Lavelle Acting. Proceedings against Pepper for defamation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii. **[REDACTED] v Pepper [REDACTED]:** Eversheds acting: Spouse claiming family home rights.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii. **[REDACTED] v Pepper [REDACTED]:** Beauchamps acting. Summary Summons issued. Borrower disputing Receiver appointment. Await service of proceedings on Pepper.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ix. **[REDACTED] v. Ulster Bank [REDACTED]:** Beauchamps acting. Plaintiff claims alienation from the property, negligence, breach of contract, breach of duty, damages, interest and costs. Defence delivered February 2018. Currently dormant.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x. **[REDACTED] v Ulster Bank and Pepper [REDACTED]:** Claim for damages against Pepper re incorrect Central Credit Reporting post UK bankruptcy. |
| **Deenish** | &nbsp;&nbsp;**Plaintiff** | &nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Obligation in the MSD for the Purchaser to substitute into all Plaintiff Litigation. The Purchaser will have discretion as to which of these cases they wish to take forward. There are 2 sets of proceedings due to issue by Pepper and the Receiver against the following individuals:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. **[REDACTED] & [REDACTED]**: Special Summons due to issue for possession. Receiver appointed over 3 BTL's, occupants not engaging, and Borrowers continue to impede access/interfere.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. **[REDACTED] (HC):** Beauchamps acting. Injunction issued against occupant & third party illegally collecting rent from the secured property and placing occupants in the property. Ex-parte application seeking injunctive relief listed 25 July 2024.<br>|
| &nbsp;&nbsp; **Temple** | **Defendant** | 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are a total of 5 cases listed on the inbound side for the Temple portfolio. There is a mixture of Circuit Court and High Court cases. The Seller will retain control of all Defendant Litigation post-closing.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. **[REDACTED] and [REDACTED] v Pepper, [REDACTED] [REDACTED]:** Lavelle acting. Civil Bill. Borrowers disputing validity of transfer from KBC to pepper and Receiver appointment.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. **[REDACTED] v Pepper and [REDACTED] [REDACTED]:** Beauchamps acting. Plenary Summons. Borrowers disputing Receiver validity.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. **[REDACTED] v Pepper and [REDACTED] [REDACTED]:** Beauchamps acting. Plenary Summons. Borrower disputing debt and authenticity of signature on the Facility Letter.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. **[REDACTED] v [REDACTED] and KBC [REDACTED]:** Lavelle acting. Injunction. On hold. Borrower challenged receiver appointment due to an alleged issue with the mortgage documentation. Proceedings were adjourned and settlement discussions took place. Bank subsequently indemnified the Receiver.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. **[REDACTED] v [REDACTED] and the PRA and [REDACTED] [REDACTED]:** Lavelle acting. Proceedings issued by Borrower after property sold. Next court date 30/07 to have case struck out for case for failure to deliver a Statement of Claim.<br>|
| &nbsp;&nbsp; **Temple** | **Plaintiff** | 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are a total of 6 cases listed on the outward side for the Temple portfolio, all of which are active. Obligation in the MSD for the Purchaser to substitute into all Plaintiff Litigation. The Purchaser will have discretion as to which of these cases they wish to take forward. Cases are as follows:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. **Pepper and [REDACTED] [REDACTED]:** Eversheds acting. Order for possession granted on 16 July 2024.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. **KBC Bank and [REDACTED] and [REDACTED] [REDACTED]:** Beauchamps acting. Order for possession being sought. Pepper to substitute into possession proceedings.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. **Pepper and [REDACTED] v [REDACTED] and [REDACTED] [REDACTED]:** Beauchamps acting. Possession proceedings against occupants and borrower who is interfering with occupants.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. **[REDACTED], [REDACTED], Pepper and [REDACTED] v [REDACTED] [REDACTED]:** Beauchamps acting. Order for summary judgment.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. **Pepper and [REDACTED] (reps of [REDACTED])**: Plenary Summons for possession proceedings against occupant. Estate is engaging with Pepper and has agreed to consent to order.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. **[REDACTED] and Pepper and [REDACTED]**: Proceedings due to issue against occupants and borrower for possession.<br>|
| &nbsp;&nbsp; **Temple** | **Notice Party** | 1 | &nbsp;&nbsp; There is 1 case in which Pepper are a notice party:<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **[REDACTED] and [REDACTED], Tailte Eireann & Pepper [REDACTED]:** Lavelle acting. Relates to a solicitors' undertaking. Pepper are notice party to proceedings issued by the solicitor against Borrowers in an attempt to rectify and perfect our security. |

---

**Schedule 6 PROJECT ALPINE REMEDIATION**

We have relied upon the documents entitled 'Project Alpine 25-Jun-2024 UBIDAC-Pepper Information Pack' and 'Project Alpine – Context' as appended to this Schedule 6 (the **Project Alpine Information Documents**) in preparing the below summary. Based only upon our review of the Project Alpine Information Documents it appears that:

● Up to 4,242 loans could be impacted by the Project Alpine remediation, however the expected financial impact is low and Ulster Bank Ireland DAC (**UBIDAC**) has been working with CBI and Pepper to resolve the issues (including ensuring that Pepper will receive full cost coverage from UBIDAC to execute the remediation). We understand that Carval was consulted with on this approach and is comfortable with solution proposed by UBIDAC.

● 'Project Alpine' affects certain mortgage customers within the Skellig and Deenish portfolios. The issue is described as, "*An unintended consequence of the application of the UBIDAC Group. Mortgage System (GMS) methodology is the addition, or subtraction, of a monthly repayment to the total scheduled number of remaining payments. This leads to a longer or shorter term being used in the recalculation of the Normal Monthly Repayment (NMR), resulting in a higher or lower NMR. This creates a higher cost of credit where the NMR is lower and spread over a longer term, and a lower cost of credit where the NMR is higher and therefore spread over a shorter term* ".

● Email correspondence from **[REDACTED]** of UBIDAC dated 24 May 2024 to Carval suggests that, subject to customer behaviour, up to 2500 customers within the Deenish portfolio might be affected by the GMS issue. The email does not note how many within the Skellig Portfolio are likely to be affected. This correspondence also suggests that a customer impact assessment will be submitted to the CBI in due course. Once this assessment has been finalised it would be prudent to request a copy of the materials for review.

● By way of letter dated 24 June 2024 **[REDACTED]** of UBIDAC advised CVC:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o *"It is UBIDAC's intention to compensate financially impacted customers for the historic and future financial detriment (if applicable)* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o *Where there is a payment required, it is expected to be lodged directly into the customer mortgage where possible.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o *UBIDAC is working with Pepper and there are active discussions regarding funding / contributions from UBIDAC to support the required remediation work.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o *Due to the expected low financial impact for each account, UBIDAC does not expect that any containment measures will be required."* 

● The letter above also noted that UBIDAC anticipated releasing a media statement during the week commencing 24 June. As at the date of this report there does not appear to have been any statement lodged on UBIDAC's website (Press Releases (ulsterbank.ie)).

● More detailed analysis of the issue is set out in the document entitled 'Project Alpine 25-Jun-2024 UBIDAC-Pepper Information Pack' which confirms issues have been identified withing the Skellig Principle, Skellig Sweeper and Deenish Portfolios. Up to 4,242 customers could be impacted, that being 129 Skellig Sweeper, 1585 Skellig Principle and 2528 Deenish.

● The document entitled 'Project Alpine – Context' includes on side 4 'Pepper Query Responses'. We have assumed that these are UBIDAC's responses to queries raised by Pepper in respect of Project Alpine. The responses indicate that UBIDAC believe:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The root cause of the issues and the proposed remediation steps are the same across all affected loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The CBI has been engaged with in relation to this issue and UBIDAC have shared outline plans with the CBI that includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ UBIDAC commencing engagement with Pepper to agree remediation execution principles including the impacted population, remediation
approach (including timings), data inputs and customer journey details post migration by 10 June 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ UBIDAC commencing remediation (including payments to accounts and issuing letters to customers) by 28 August 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o As a result of that engagement UBIDAC submitted a formal request to the CBI on 22 May 2024, requesting no objection from the CBI by
28 May 2024 (confirmation should be sought to determine if the CBI have provided any further response or commentary to UBIDAC's
request for no objection by 28 May 2024).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o UBIDAC are also engaging with Carval and PTSB as beneficial owners regarding this issue (and that Carval has no issues with approach).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Pepper will receive cost coverage from UBIDAC to execute the remediation.