Locat SV S.r.l. - Serie 2005 INVESTORS' REPORT

Transcription

1 Originator: Issuer: Locat SV S.r.l. - Serie 2005 INVESTORS' REPORT (Euro) EURO Class A1 Asset-Backed Floating Rate Notes due 2026 Issue Price: 100% EURO Class A2 Asset-Backed Floating Rate Notes due 2026 Issue Price: 100% EURO Class B Asset-Backed Floating Rate Notes due 2026 Issue Price: 100% EURO Class C Asset-Backed Floating Rate Notes due 2026 Issue Price: 100% EURO Class D Asset-Backed Variable Return Notes due 2026 Issue Price: 100% Investors' Report Date 17/09/2014 Quarterly Collection Period: 04/06/ /09/2014 Interest Period: 12/06/ /09/2014 Interest Payment Date: 12/09/2014 This report is freely available on our web site:

2 This Investors Report is based in particular on the Quarterly Servicer's Report and on the. Calculations here contained are made in accordance with the criteria described in the Transaction Documents. Terms and expressions used in this Investors Report have the respective meanings given to them in the Transaction Documents. All historical data are available on the web site Finanziaria Internazionale Group Page 2

3 1. Description of the Notes Issuer: LOCAT SV S.R.L. Issue Date: 18th November 2005 Lead Manager: Arrangers: The Notes: UBM-UniCredit Banca Mobiliare S.p.A.; BNP Paribas London Branch; UBS Limited, London Branch UBM-UniCredit Banca Mobiliare S.p.A. Series Class A1 Notes Class A2 Notes Class B Notes Class C Notes Class D Notes Original Balance 451,000,000 1,349,000, ,000,000 33,000,000 7,000,136 Currency Euro Euro Euro Euro Euro Final Maturity Date December 2026 December 2026 December 2026 December 2026 December 2026 Listing Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange ISIN code IT IT IT IT IT Common code Clearing Euroclear Euroclear Euroclear Euroclear Euroclear 18 months after the Issue Date - Passthrough 18 months after the Issue Date - Passthrough 18 months after the Issue Date - Passthrough 18 months after the Issue Date - Passthrough 18 months after the Issue Date - Passthrough Indexation Euribor 3 m Euribor 3 m Euribor 3 m Euribor 3 m Euribor 3 m Spread 0.07% 0.15% 0.39% 0.61% 2.00% Original Rating Moody's Current Rating Moody's Original Rating Standard and Poor's Current Rating Standard and Poor's AAA(sf) Aaa(sf) A2(sf) Baa2(sf) Baa2(sf) Caa1(sf) AAA(sf) AAA(sf) A(sf) BBB(sf) BBB+(sf) B(sf) Underlying assets for the Notes: Originator and Servicer: Interest Payment Dates: Interest Period: Interest calculation: Computation Agent: Corporate Servicer: Paying Agent and Custodian Bank: Account Bank and Cash Manager: Irish Paying Agent: Representative of the Noteholders: Hedging Counterparty: Quotaholder: Lease receivables Unicredit Leasing S.p.A. means (i) prior the service of a Trigger Notice, the twelfth day of March, June, September and December of each year, or if such date is not a Business Day, the immediately following Business Day; and (ii) following the service of a Trigger Notice, the [t means each period from (and including) an Interest Payment Date to (but excluding) the next following Interest Payment Date, provided that the first Interest Period (the Initial Interest Period) shall begin on (and include) the Issue Date and end on (but ACTUAL/360 Securitisation Services S.p.A. UniCredit Credit Management Bank S.p.A. BNP Paribas Securities Services Milan Branch BNP Paribas Italian Branch Bank of New York Plc Securitisation Services S.p.A. UniCredito Italiano S.p.A. SVM Securitisation Vehicles Management S.r.l. Finanziaria Internazionale Group Page 3

4 2.a The Notes PERIOD PAYMENT DATE CLASS A1 NOTES (ISIN code IT ) BEFORE PAYMENTS accrued After payments payment due on each Note Outstanding Unpaid Interest Due Accrual Interest Rate Accrual Period (days) Accrued Interest Interest Outstanding Unpaid Interest Outst. Princ. before payments Outst. Princ. after payments 18/11/ /03/ /03/ , ,46% , , , , ,00 13/03/ /06/ /06/ , ,77% , , , , ,00 12/06/ /09/ /09/ , ,06% , , , , ,00 12/09/ /12/ /12/ , ,37% , , , , ,00 12/12/ /03/ /03/ , ,74% , , , , ,00 12/03/ /06/ /06/ , ,10 3,95% , , , , ,00 0, ,86 12/06/ /09/ /09/ , ,20 4,21% , , , , ,46 0, ,05 12/09/ /12/ /12/ , ,20 4,82% , , , , ,27 0, ,59 12/12/ /03/ /03/ , ,50 4,97% , , , Finanziaria Internazionale Group Page 4

5 2.b The Notes PERIOD PAYMENT DATE CLASS A2 NOTES (ISIN code IT ) BEFORE PAYMENTS accrued After payments payment due on each Note Outstanding Unpaid Interest Due Accrual Interest Rate Accrual Period (days) Accrued Interest Interest Outstanding Unpaid Interest Outst. Princ. before payments Outst. Princ. after payments 18/11/ /03/ /03/ , ,54% , , , , ,00 13/03/ /06/ /06/ , ,85% , , , , ,00 12/06/ /09/ /09/ , ,14% , , , , ,00 12/09/ /12/ /12/ , ,45% , , , , ,00 12/12/ /03/ /03/ , ,82% , , , , ,00 12/03/ /06/ /06/ , ,03% , , , , ,00 12/06/ /09/ /09/ , ,29% , , , , ,00 12/09/ /12/ /12/ , ,90% , , , , ,00 12/12/ /03/ /03/ , ,50 5,05% , , , , ,00 0, ,95 12/03/ /06/ /06/ , ,70 4,71% , , , , ,35 0, ,24 12/06/ /09/ /09/ , ,00 5,11% , , , , ,13 0, ,02 12/09/ /12/ /12/ , ,80 5,11% , , , , ,57 0, ,46 12/12/ /03/ /03/ , ,50 3,53% , , , , ,04 0, ,94 12/03/ /06/ /06/ , ,60 1,84% , , , , ,96 0, ,83 12/06/ /09/ /09/ , ,60 1,43% , , , , ,14 0, ,01 14/09/ /12/ /12/ , ,70 0,93% , , , , ,56 0, ,44 14/12/ /03/ /03/ , ,30 0,86% , , , , ,21 0, ,09 12/03/ /06/ /06/ , ,80 0,80% , , , , ,37 0, ,24 14/06/ /09/ /09/ , ,90 0,87% , , , , ,18 0, ,04 13/09/ /12/ /12/ , ,80 1,03% , , , , ,63 0, ,48 13/12/ /03/ /03/ , ,50 1,18% , , , , ,70 0, ,55 14/03/ /06/ /06/ , ,40 1,33% , , , , ,74 0, ,57 13/06/ /09/ /09/ , ,10 1,61% , , , , ,74 0, ,62 12/09/ /12/ /12/ , ,60 1,68% , , , , ,91 0, ,68 12/12/ /03/ /03/ , ,80 1,62% , , , , ,61 0, ,37 12/03/ /06/ /06/ , ,80 1,05% , , , , ,57 0, ,29 12/06/ /09/ /09/ , ,10 0,81% , , , ,50-785,04 0,38 784,66 12/09/ /12/ /12/ , ,30 0,41% , , , ,20-483,18 0,60 482,58 12/12/ /03/ /03/ , ,20 0,33% , , ,32-0,00-195,21 1,00 194,21 Finanziaria Internazionale Group Page 5

6 PERIOD PAYMENT DATE 2.b 2.c The Notes CLASS B NOTES (ISIN code IT ) BEFORE PAYMENTS accrued After payments payment due on each Note Outstanding Unpaid Interest Due Accrual Interest Rate Accrual Period (days) Accrued Interest Interest Outstanding Unpaid Interest Outst. Princ. before payments Outst. Princ. after payments 18/11/ /03/ /03/ , ,78% , , , , ,00 13/03/ /06/ /06/ , ,09% , , , , ,00 12/06/ /09/ /09/ , ,38% , , , , ,00 12/09/ /12/ /12/ , ,69% , , , , ,00 12/12/ /03/ /03/ , ,06% , , , , ,00 12/03/ /06/ /06/ , ,27% , , , , ,00 12/06/ /09/ /09/ , ,53% , , , , ,00 12/09/ /12/ /12/ , ,14% , , , , ,00 12/12/ /03/ /03/ , ,29% , , , , ,00 12/03/ /06/ /06/ , ,95% , , , , ,00 12/06/ /09/ /09/ , ,35% , , , , ,00 12/09/ /12/ /12/ , ,35% , , , , ,00 12/12/ /03/ /03/ , ,77% , , , , ,00 12/03/ /06/ /06/ , ,08% , , , , ,00 12/06/ /09/ /09/ , ,67% , , , , ,00 14/09/ /12/ /12/ , ,17% , , , , ,00 14/12/ /03/ /03/ , ,10% , , , , ,00 12/03/ /06/ /06/ , ,04% , , , , ,00 14/06/ /09/ /09/ , ,11% , , , , ,00 13/09/ /12/ /12/ , ,27% , , , , ,00 13/12/ /03/ /03/ , ,42% , , , , ,00 14/03/ /06/ /06/ , ,57% , , , , ,00 13/06/ /09/ /09/ , ,85% , , , , ,00 12/09/ /12/ /12/ , ,92% , , , , ,00 12/12/ /03/ /03/ , ,86% , , , , ,00 12/03/ /06/ /06/ , ,29% , , , , ,00 12/06/ /09/ /09/ , ,05% , , , , ,00 12/09/ /12/ /12/ , ,65% , , , , ,00 12/12/ /03/ /03/ , ,00 0,57% , , , , ,00 0, ,99 12/03/ /06/ /06/ , ,00 0,59% , , , , ,23 0, ,12 12/06/ /09/ /09/ , ,00 0,59% , , , , ,27 0, ,08 12/09/ /12/ /12/ , ,00 0,62% , , , , ,88 0, ,73 12/12/ /03/ /03/ , ,00 0,65% , , , ,00-974,50 0,16 974,34 12/03/ /06/ /06/ , ,00 0,70% , , , ,00-819,53 0,17 819,36 12/06/ /09/ /09/ , ,00 0,65% , , , ,00-683,48 0,19 683,29 Finanziaria Internazionale Group Page 6

7 2.d 2.b The Notes PERIOD PAYMENT DATE CLASS C NOTES (ISIN code IT ) BEFORE PAYMENTS accrued After payments payment due on each Note Outstanding Unpaid Interest Due Accrual Interest Rate Accrual Period (days) Accrued Interest Interest Outstanding Unpaid Interest Outst. Princ. before payments Outst. Princ. after payments 18/11/ /03/ /03/ , ,00% , , ,00-330,00-330,00 13/03/ /06/ /06/ , ,31% , , ,00-330,00-330,00 12/06/ /09/ /09/ , ,60% , , ,00-330,00-330,00 12/09/ /12/ /12/ , ,91% , , ,00-330,00-330,00 12/12/ /03/ /03/ , ,28% , , ,00-330,00-330,00 12/03/ /06/ /06/ , ,49% , , ,00-330,00-330,00 12/06/ /09/ /09/ , ,75% , , ,00-330,00-330,00 12/09/ /12/ /12/ , ,36% , , ,00-330,00-330,00 12/12/ /03/ /03/ , ,51% , , ,00-330,00-330,00 12/03/ /06/ /06/ , ,17% , , ,00-330,00-330,00 12/06/ /09/ /09/ , ,57% , , ,00-330,00-330,00 12/09/ /12/ /12/ , ,57% , , ,00-330,00-330,00 12/12/ /03/ /03/ , ,99% , , ,00-330,00-330,00 12/03/ /06/ /06/ , ,30% , , ,00-330,00-330,00 12/06/ /09/ /09/ , ,89% , , ,00-330,00-330,00 14/09/ /12/ /12/ , ,39% , , ,00-330,00-330,00 14/12/ /03/ /03/ , ,32% , , ,00-330,00-330,00 12/03/ /06/ /06/ , ,26% , , ,00-330,00-330,00 14/06/ /09/ /09/ , ,33% , , ,00-330,00-330,00 13/09/ /12/ /12/ , ,49% , , ,00-330,00-330,00 13/12/ /03/ /03/ , ,64% , , ,00-330,00-330,00 14/03/ /06/ /06/ , ,79% , , ,00-330,00-330,00 13/06/ /09/ /09/ , ,07% , , ,00-330,00-330,00 12/09/ /12/ /12/ , ,14% , , ,00-330,00-330,00 12/12/ /03/ /03/ , ,08% , , ,00-330,00-330,00 12/03/ /06/ /06/ , ,51% , , ,00-330,00-330,00 12/06/ /09/ /09/ , ,27% , , ,00-330,00-330,00 12/09/ /12/ /12/ , ,87% , , ,00-330,00-330,00 12/12/ /03/ /03/ , ,79% , , ,00-330,00-330,00 12/03/ /06/ /06/ , ,81% , , ,00-330,00-330,00 12/06/ /09/ /09/ , ,81% , , ,00-330,00-330,00 12/09/ /12/ /12/ , ,84% , , ,00-330,00-330,00 12/12/ /03/ /03/ , ,87% , , ,00-330,00-330,00 12/03/ /06/ /06/ , ,92% , , ,00-330,00-330,00 12/06/ /09/ /09/ , ,87% , , ,00-330,00-330,00 Finanziaria Internazionale Group Page 7

8 PERIOD PAYMENT DATE 2.b 2.e The Notes CLASS D NOTES (ISIN code IT ) BEFORE PAYMENTS accrued After payments payment due on each Note Outstanding Unpaid Interest Due Class D Base Interest Accrual Period (days) Accrued Interest Interest Outstanding Unpaid Interest Outst. Princ. before payments Outst. Princ. after payments 18/11/ /03/ /03/ , ,39% , , ,00-116,00-116,00 13/03/ /06/ /06/ , ,70% , , ,00-116,00-116,00 12/06/ /09/ /09/ , ,99% , , ,00-116,00-116,00 12/09/ /12/ /12/ , ,30% , , ,00-116,00-116,00 12/12/ /03/ /03/ , ,67% , , ,00-116,00-116,00 12/03/ /06/ /06/ , ,88% , , ,00-116,00-116,00 12/06/ /09/ /09/ , ,14% , , ,00-116,00-116,00 12/09/ /12/ /12/ , ,75% , , ,00-116,00-116,00 12/12/ /03/ /03/ , ,90% , , ,00-116,00-116,00 12/03/ /06/ /06/ , ,56% , , ,00-116,00-116,00 12/06/ /09/ /09/ , ,96% , , ,00-116,00-116,00 12/09/ /12/ /12/ , ,96% , , ,00-116,00-116,00 12/12/ /03/ /03/ , ,38% , , ,00-116,00-116,00 12/03/ /06/ /06/ , ,69% , , ,61 116,00-116,00 12/06/ /09/ /09/ , ,61-3,28% , , ,72 116,00-116,00 14/09/ /12/ /12/ , ,72-2,78% , , ,84 116,00-116,00 14/12/ /03/ /03/ , ,84-2,71% , , ,30 116,00-116,00 12/03/ /06/ /06/ , ,30-2,65% , , ,63 116,00-116,00 14/06/ /09/ /09/ , ,63-2,72% , , ,06 116,00-116,00 13/09/ /12/ /12/ , ,06-2,88% , , ,36 116,00-116,00 13/12/ /03/ /03/ , ,36-3,03% , , ,87 116,00-116,00 14/03/ /06/ /06/ , ,87-3,18% , , ,82 116,00-116,00 13/06/ /09/ /09/ , ,82-3,46% , , ,57 116,00-116,00 12/09/ /12/ /12/ , ,57-3,53% , , ,56 116,00-116,00 12/12/ /03/ /03/ , ,56-3,47% , , ,48 116,00-116,00 12/03/ /06/ /06/ , ,48-2,90% , , ,04 116,00-116,00 12/06/ /09/ /09/ , ,04-2,66% , , ,08 116,00-116,00 12/09/ /12/ /12/ , ,08-2,26% , , ,00 116,00-116,00 12/12/ /03/ /03/ , ,00-2,18% , , ,24 116,00-116,00 12/03/ /06/ /06/ , ,24-2,20% , , ,45 116,00-116,00 12/06/ /09/ /09/ , ,45-2,20% , , ,33 116,00-116,00 12/09/ /12/ /12/ , ,33-2,23% , , ,23 116,00-116,00 12/12/ /03/ /03/ , ,23-2,26% , , ,00 116,00-116,00 12/03/ /06/ /06/ , ,00-2,31% , , ,47 116,00-116,00 12/06/ /09/ /09/ , ,47-2,26% , , ,81 116,00-116,00 Finanziaria Internazionale Group Page 8

9 3. Pool factor Class of Notes PAYMENT DATE Original Outstanding Outstanding after payments Current pool factor (A) (B) (C) (D)=(C)/(A) CLASS A1 NOTES (ISIN code IT ) 12/09/ , ,00000% CLASS A2 NOTES (ISIN code IT ) 12/09/ , ,00 0,000000% CLASS B NOTES (ISIN code IT ) 12/09/ , , ,00 34,465190% CLASS C NOTES (ISIN code IT ) 12/09/ , ,00 100,000000% CLASS D NOTES (ISIN code IT ) 12/09/ , ,00 100,000000% Finanziaria Internazionale Group Page 9

10 3. Collections QUARTERLY COLLECTION PERIOD Instalments Interest Instalments Positive Adjustment (Accrued and paid to the SPV) Negative Adjustment (Accrued and paid to the Lessees) Agreed Prepayments () Agreed Prepayments (Interest) Recovery Insurance refunding () Insurance refunding (Interest) Late charges Billed Residual Collected Other Receivables purchased by the Seller (principal) Receivables purchased by the Seller (interest) TOTAL COLLECTED 31/10/ /03/ , , , , , , , , , , , , ,15 02/03/ /06/ , , , , , , , , , , , ,72 02/06/ /09/ , , , , , , , , , , , , , ,39 04/09/ /12/ , , , , , , , , , , , ,98 04/12/ /03/ , , , , , , , , , , , , , ,94 04/06/ /09/ , , , , , , , , , , , , , ,58 04/06/ /09/ , , , , , , , , , , , ,59 04/09/ /12/ , , , , , , , , , , , ,48 04/12/ /03/ , , , , , , , , , , , ,62 04/03/ /06/ , , , , , , , , , , , ,19 03/06/ /09/ , , , , , , , , , , , ,42 02/09/ /12/ , , , , , , , , , , , ,26 02/12/ /03/ , , , , , , , , , , , ,62 03/03/ /06/ , , , , , , , , , , , ,96 02/06/ /09/ , , , , , , , , , , , ,85 02/09/ /12/ , , , , , , , , , , , ,44 02/12/ /03/ , , , , , , , , , , , ,16 02/03/ /06/ , , , , , , , ,14 846, , , ,35 02/06/ /09/ , , , , , , , , , , , ,11 02/09/ /12/ , , , , , , , , , , , ,37 02/12/ /03/ , , , , , , , , , , , ,58 02/03/ /06/ , , , , , , , , , , , ,06 02/06/ /09/ , , , , , , , ,87 720, , , ,32 02/09/ /12/ , , , , , , ,17 27,01 59, , , ,30 02/12/ /03/ , , , , , , ,86-1, , , ,66 02/03/ /06/ , , , , , , ,57 741,50 10, , , ,32 04/06/ /09/ , , , , , , , , , ,13 04/09/ /12/ , , , , , , , , , , , ,80 04/12/ /03/ , , , , , , ,78-5, , , ,75 02/03/ /06/ , , , , , , ,52-1, , , ,31 04/06/ /09/ , , , , , , , , , , , ,82 03/09/ /12/ , , , , , , , , , ,77 03/12/ /03/ , , , , , , , , , ,38 04/03/ /06/ , , , , , , , , , ,81 04/06/ /09/ , , , , , , , , , ,19 Finanziaria Internazionale Group Page 10

11 4. Issuer Interest 4. Issuer Available Interest Available Funds- Revolving Funds Period QUARTERLY COLLECTION PERIOD Interest Collections (*) Recovery Billed Residual Collected received from the Hedging Counterparty All amounts received from any party to a Transaction Document standing to the credit of the DSR Account and of the Adjustment Reserve Account Interest on Cash Accounts and on Eligible Investments Any Issuer Princ. Available Funds or Available Red. Funds which have been applied as Issuer Int. Available Funds Other amounts received under the Transaction Documents ISSUER AVAILABLE FUNDS Billed Residual Collected paid on the preceding Settlement Dates (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) = SUM[(A);(I)] (K) (J) - (K) RESIDUAL ISSUER AVAILABLE FUNDS 31/10/ /03/ , , , , , , , , ,71 02/03/ /06/ , , , , , , , , , ,45 02/06/ /09/ , , , , , , , , , ,77 04/09/ /12/ , , , , , , , , ,78 04/12/ /03/ , , , , , , , , ,72 (*) This amount escludes the Accrued Interest as at the relevant Valuation Date, which is part of the Purchase Price. Finanziaria Internazionale Group Page 11

12 5. 5. Priority of of - Issuer - Interest Interest - Revolving Available Period Funds PAYMENT DATE RESIDUAL ISSUER AVAILABLE FUNDS Fees and expenses Amount due to the Hedging Counterparty Net Adjustment Reserve Amount Interest on Class A1 Notes and Class A2 Notes Interest on Class B Notes (*) Interest on Class C Notes (*) RESIDUAL AMOUNTS Payment to the Debt Service Reserve Account Deficency Amount RESIDUAL IIAF Any hedging Integration termination Amount (***) payments Billed Residual Uncollected Any indemnity payable under the Transaction Documents Class D Base Interest Class D Additional Remuneration Residual Amount to the Issuer Int. Av. Funds (on the next IPD) (A) (B) (C) (D) (E) (F) (G) (H)=(A) - sum ((B);(G)) (I) (J) (K)=(H) - (I) - (J) (L) (M) (N) (O) (P) (Q) (R) = (L)- sum[(m);(q)] 13/03/ , , , , , , , , , , , , , , ,78 12/06/ , , , , , , , , , , , , , ,81 12/09/ , , , , , , , , , , , , ,54-12/12/ , , , , , , , , , , , , ,43-12/03/ , , , , , , , , , , , , ,39 - (*) to the extent that during any preceding Quarterly Collection Period the Cumulative Default Ratio Interest Deferral has exceeded 11,5%, no amount under item Sixth above will be paid, but items ranking lower in this Priority of may neverthele (**) to the extent that during any preceding Quarterly Collection Period the Cumulative Default Ratio Interest Deferral has exceeded 6,5%, no amount under item Seventh above will be paid, but items ranking lower in this Priority of may neverthe (***) to the extent that the Cumulative Default Ratio has been higher than the relevant Cumulative Dafult Trigger Ratio Finanziaria Internazionale Group Page 12

13 6. Issuer 6. Issuer Available Available Funds- Revolving Funds Period QUARTERLY COLLECTION PERIOD Collections (*) Integration Amount Deficiency Debt Service Released Amount under item Fifth of Condition 4.1 ISSUER PRINCIPAL AVAILABLE FUNDS Debt Service Reserve Amount (only on the first two Settlement Date) (**) Subsequent Porfolios purchased on the preceding Settlement Dates RESIDUAL ISSUER PRINCIPAL AVAILABLE FUNDS (A) (B) (C) (D) (E) (F) = SUM[(A);(E)] (G) (H) (F)-(G)-(H) 31/10/ /03/ , , , , , ,34 02/03/ /06/ , , , , , ,37 02/06/ /09/ , , , , , ,33 04/09/ /12/ , ,08-125, , , ,13 04/12/ /03/ , , , , , ,33 (*) This amount includes the Accrued Interest as at the relevant Valuation Date, which is part of the Purchase Price. (**) Or on the first Interest Payment Date, if not already credited on the immediately preceding Settlement Date Finanziaria Internazionale Group Page 13

14 PAYMENT DATE Priority of of - Issuer - - Revolving Available Period Funds RESIDUAL ISSUER PRINCIPAL AVAILABLE FUNDS To apply to the Issuer Interest Available Funds, items First through Seventh Payment to the Debt Service Reserve Account (only on the first IPD) (*) Subsequent Portfolio (**) Purchase Price Adjustment Residual amount to the Account 13/03/ , , ,37 12/06/ , , ,11 12/09/ , ,87-125,46 12/12/ , , ,80 12/03/ , ,69-2,64 (*) If not already credited on the immediately preceding Settlement Dates (**) To the extent not already paid on the previous Settlement Dates or Interest Payment Dates). Pursuant to clause 5.2 of the Master Receviables Purchase Agreement the Originator is entitled to set off the Subsequent Portfolio APP at the Settlement Dates. Provided that such right has been exercised, the positive difference, if any, between the Subsequent Portfolio APP and the amounts set off is paid at the relevant Interest Payment Date. Finanziaria Internazionale Group Page 14

15 8. Issuer Interest 4. Issuer Available Interest Funds- Available Amortisation Funds Period QUARTERLY COLLECTION PERIOD Interest Collections (*) Recovery Billed Residual Collected received by the Hedging Counterparty All amounts received from any party to a Transaction Document standing to the credit of the DSR Account and of the Adjustment Reserve Account Interest on Cash Accounts and on Eligible Investments Any Issuer Princ. Available Funds or Available Red. Funds which have been applied as Issuer Int. Available Funds Other amounts received under the Transaction Documents ISSUER AVAILABLE FUNDS Billed Residual Collected paid on the preceding Settlement Dates (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) = SUM[(A);(I)] (K) (J) - (K) RESIDUAL ISSUER AVAILABLE FUNDS 02/03/ /06/ , , , , , , , , ,82 04/06/ /09/ , , , , , , , , ,96 04/09/ /12/ , , , , , , , , ,36 04/12/ /03/ , , , , , , , , ,20 04/03/ /06/ , , , , , , , , ,43 03/06/ /09/ , , , , , , , , ,14 02/09/ /12/ , , , , , , , , ,58 02/12/ /03/ , , , , , , , , ,57 03/03/ /06/ , , , , , , , , ,59 02/06/ /09/ , , , , , , , , ,77 02/09/ /12/ , , , , , , , , ,75 02/12/ /03/ , , , , , , , , ,97 02/03/ /06/ , , , , , , , , ,88 02/06/ /09/ , , , , , , , , ,21 02/09/ /12/ , , , , , , , , ,64 02/12/ /03/ , , , , , , , , , ,91 02/03/ /06/ , , , , , , , , ,50 02/06/ /09/ , , , , , , , , ,96 02/09/ /12/ , , , , , , , , ,10 02/12/ /03/ , , , , , , , , ,92 02/03/ /06/ , , , , , , , , ,97 04/06/ /09/ , , , , , , , , ,47 04/09/ /12/ , , , , , , , , ,49 04/12/ /03/ , , , , , , , , ,70 02/03/ /06/ , , , , , , , , ,51 04/06/ /09/ , , , , , , , , ,93 03/09/ /12/ , , , , , , , , ,71 03/12/ /03/ , , , , , , , , ,90 04/03/ /06/ , , , , , , , , ,03 04/06/ /09/ , , , , ,95 997, , , ,84 (*) This amount escludes the Accrued Interest as at the relevant Valuation Date, which is part of the Purchase Price. Finanziaria Internazionale Group Page 15

16 5. 9. Priority of of -- Issuer Interest Interest - Amortisation Available Period Funds PAYMENT DATE RESIDUAL ISSUER AVAILABLE FUNDS Fees and expenses Amount due to the Hedging Counterparty Net Adjustment Reserve Amount Interest on Class A1 Notes and Class A2 Notes Interest on Class B Notes (*) Interest on Class C Notes (**) RESIDUAL AMOUNTS Payment to the Debt Service Reserve Account Debt Service Reserve Released Amount Deficency Amount Unpaid Cumulative Deficency Amount of the period Deficency Amount RESIDUAL IIAF Integration Amount (***) Any hedging termination payments Billed Residual Uncollected Any indemnity payable under the Transaction Documents Class D Base Interest Class D Additional Remuneration Residual Amount to the Issuer Int. Av. Funds (on the next IPD) (A) (B) (C) (D) (E) (F) (G) (H)=(A) - sum ((B);(G)) (I) (J) (K) (L)=(H) - (I) - (J) - (K) (M) (N) (O) (P) (Q) (R) (R) = (L)-sum[(M);(Q)] 12/06/ , , , , , , , , , , , , ,42-12/09/ , , , , , , , , , , , , , ,55-12/12/ , , , , , , , , , , , , , ,89-12/03/ , , , , , , , , , , , , , ,75-12/06/ , , , , , , , , , , , , , ,75-12/09/ , , , , , , , , , , , , , ,10-12/12/ , , , , , , , , , , , , , ,86-12/03/ , , , , , , , , , , , , , ,93-12/06/ , , , , , , , , , , , , , /09/ , , , , , , , , , , , , , /12/ , , , , , , , , , , , , /03/ , , , , , , , , , , , , , /06/ , , , , , , , , , , , , /09/ , , , , , , , , , , , , /12/ , , , , , , , , , , , , /03/ , , , , , , , , , , , , /06/ , , , , , , , , , , , , , /09/ , , , , , , , , , , , , , /12/ , , , , , , , , , , , , , /03/ , , , , , , , , , , , , , /06/ , , , , , , , , , , , , , /09/ , , , , , , , , , , , , , /12/ , , , , , , , , , , , , , /03/ , , , , , , , , , , , , , /06/ , , , , , , , , , , , /09/ , , , , , , , , , , , /12/ , , , , , , , , , , , /03/ , , , , , , , , , , , , /06/ , , , , , , , , , , , , /09/ , , , , , , , , , , , (*) to the extent that during any preceding Quarterly Collection Period the Cumulative Default Ratio Interest Deferral has exceeded [11,5]%, no amount under item Sixth above will be paid, but items ranking lower in this Priority of may neverthele (**) to the extent that during any preceding Quarterly Collection Period the Cumulative Default Ratio Interest Deferral has exceeded [6,5]%, no amount under item Seventh above will be paid, but items ranking lower in this Priority of may neverthe (***)With reference to the Interest Payment Date falling on 12 June 2009 the Cumulative Default Ratio exeedes the relevant Cumulative Default Trigger Ratio. Pursuant to the Transaction Documents, as long as the Cumulative Default Ratio is higher than the Finanziaria Internazionale Group Page 16

17 6. Issuer Available Funds 10. Available Redemption Funds- Amortisation Period QUARTERLY COLLECTION PERIOD Collections (*) Integration Amount Deficiency Debt Service Released Amount Subsequent Porfolios purchased under item Fifth on the preceding of Condition 4.1 Settlement Dates (**) AVAILABLE REDEMPTION FUNDS (A) (B) (C) (D) (E) (F) (G) =sum( (A);(E)) - (F) 02/03/ /06/ , ,52-2, , ,65 04/06/ /09/ , , ,13 35, ,59 04/09/ /12/ , , ,44 30, ,17 04/12/ /03/ , , ,97 41, ,50 04/03/ /06/ , , ,78 95, ,94 03/06/ /09/ , , ,78 20, ,66 02/09/ /12/ , , ,60 86, ,88 02/12/ /03/ , , ,12 128, ,15 03/03/ /06/ , , ,86 16, ,41 02/06/ /09/ , , ,76 103, ,36 02/09/ /12/ , , ,59 110, ,85 02/12/ /03/ , , ,12 129, ,22 02/03/ /06/ , , ,75 10, ,16 02/06/ /09/ , , ,48 111, ,11 02/09/ /12/ , , ,72 96, ,34 02/12/ /03/ , , ,24 10, ,12 02/03/ /06/ , , , ,42 93, ,31 02/06/ /09/ , , ,95 80, ,99 02/09/ /12/ , , , ,90 97, ,45 02/12/ /03/ , , , ,80 3, ,79 02/03/ /06/ , , , ,25 36, ,52 04/06/ /09/ , , ,27 80, ,73 04/09/ /12/ , , ,48 41, ,54 04/12/ /03/ , , ,72 134, ,67 02/03/ /06/ , , ,67 13, ,35 04/06/ /09/ , , ,40 2, ,20 03/09/ /12/ , , ,60 9, ,76 03/12/ /03/ , , ,40 8, ,81 04/03/ /06/ , , ,80 9, ,96 04/06/ /09/ , , ,20 12, ,46 (*) This amount includes the Accrued Interest as at the relevant Valuation Date, which is part of the Purchase Price. (**) Onlly for the Quarterly Collection Period immediately preceding the first Interest Payment Date of the Amortisation Period. Finanziaria Internazionale Group Page 17

18 Priority of of - - Issuer - Amortisation Available Period Funds PAYMENT DATE AVAILABLE REDEMPTION FUNDS To apply to the Issuer Interest Available Funds, items First through Seventh All amounts of principal due and payable in respect of Class A1 Notes All amounts of principal due and payable in respect of Class A1 Notes All amounts of principal due and payable in respect of Class B Notes All amounts of principal due and payable in respect of Class C Notes2 Purchase Price Adjustment Any Purchase Price due but not already paid on the preceding Interest Payment Dates or Settlement Dates Limited Recourse Loan All amounts of principal due and payable in respect of Class D Notes (***) Residual amount to the IIAFs, except for the residual amount due to the rounding of the principal payments on the Notes Final Balance of the Account 12/06/ , , ,55 12/09/ , , ,39 12/12/ , , ,97 12/03/ , , , ,50 12/06/ , , ,24 12/09/ , , ,66 12/12/ , , ,08 12/03/ , , ,65 12/06/ , , ,81 14/09/ , , ,76 14/12/ , , ,15 12/03/ , , ,92 14/06/ , , ,36 13/09/ , , ,21 13/12/ , , ,54 14/03/ , , ,62 13/06/ , , ,91 12/09/ , , ,89 12/12/ , , ,85 12/03/ , , ,99 12/06/ , , ,72 12/09/ , , ,63 12/12/ , , ,24 12/03/ , , , ,47 12/06/ , , ,35 12/09/ , , ,20 12/12/ , , ,76 12/03/ , , ,81 12/06/ , , ,96 12/09/ , , ,46 (*) If not already credited on the immediately preceding Settlement Dates (**) To the extent not already paid on the previous Settlement Dates or Interest Payment Dates). Pursuant to clause 5.2 of the Master Receviables Purchase Agreement the Originator is entitled to set off the Subsequent Portfolio APP at the Settlement Dates. Provided that such right has been exercised, the positive difference, if any, between the Subsequent Portfolio APP and the amounts set off is paid at the relevant Interest Payment Date. (***) Up to Euro and, on the Final Maturity Date, all amounts due and payable, if any, on the Class D Notes. Finanziaria Internazionale Group Page 18

19 Portfolio Performance QUARTERLY COLLECTION PERIOD Pool 1 Pool 2 Pool 3 DEFAULT RATIOS (*) Total Portfolio Trigger Default Ratio Breach of Ratio Pool 1 Pool 2 Pool 3 DELINQUENCY RATIOS Total Portfolio Trigger Delinquency Ratio Breach of Ratio CUMULATIVE DEFAULT RATIO(**) Total Portfolio Cumulative Default Trigger Ratio Breach of Ratio CUMULATIVE DEFAULT RATIO DEFERRAL (**) Total Portfolio Breach of Ratio (CDRIDeferr al > 11,50%) Breach of Ratio (CDRIDeferr al > 6,50%) 11,50% 6,50% Prepayment Ratio (***) 31/10/ /03/2006 0,05% 0,46% 0,00% 0,13% 1,999% NO 1,53% 0,70% 0,45% 0,77% 11,945% NO 0,13% 1.25% NO 0,12% NO NO 0,58% 02/03/ /06/2006 0,08% 0,08% 0,00% 0,04% 2,000% NO 2,69% 1,81% 0,81% 1,50% 11,896% NO 0,17% 1,30% NO 0,14% NO NO 0,66% 02/06/ /09/2006 0,17% 0,04% 0,06% 0,08% 1,995% NO 3,22% 2,23% 1,00% 1,81% 11,823% NO 0,24% 1,50% NO 0,20% NO NO 0,39% 04/09/ /12/2006 0,30% 0,60% 0,04% 0,25% 1,981% NO 3,23% 2,02% 1,43% 1,96% 11,768% NO 0,48% 1,60% NO 0,37% NO NO 0,36% 04/12/ /03/2007 0,27% 0,40% 0,06% 0,20% 1,977% NO 3,16% 1,46% 0,90% 1,49% 11,719% NO 0,67% 2,00% NO 0,49% NO NO 0,67% 02/03/ /06/2007 0,08% 0,36% 0,03% 0,13% 1,970% NO 4,20% 2,30% 2,61% 2,84% 11,692% NO 0,80% 2,25% NO 0,55% NO NO 1,09% 04/06/ /09/2007 0,16% 0,41% 0,02% 0,15% 1,950% NO 5,49% 3,11% 2,68% 3,29% 11,593% NO 0,94% 2,50% NO 0,64% NO NO 0,66% 04/09/ /12/2007 0,42% 0,10% 0,59% 0,43% 1,928% NO 5,60% 3,21% 2,34% 3,09% 11,492% NO 1,30% 2,50% NO 0,89% NO NO 0,58% 04/12/ /03/2008 0,59% 0,41% 0,04% 0,22% 1,904% NO 7,00% 5,04% 3,33% 4,30% 11,386% NO 1,47% 2,50% NO 1,00% NO NO 0,71% 04/03/ /06/2008 0,70% 0,31% 0,44% 0,45% 1,880% NO 7,54% 6,11% 2,92% 4,29% 11,280% NO 1,78% 2,50% NO 1,21% NO NO 0,87% 03/06/ /09/2008 0,21% 0,62% 0,40% 0,43% 1,857% NO 10,31% 6,73% 3,73% 5,20% 11,175% NO 2,05% 2,50% NO 1,40% NO NO 0,77% 02/09/ /12/2008 0,76% 1,22% 0,07% 0,40% 1,833% NO 10,25% 7,32% 4,73% 5,87% 11,069% NO 2,28% 2,50% NO 1,55% NO NO 0,64% 02/12/ /03/2009-0,51% 0,75% 0,08% 0,16% 1,807% NO 11,60% 7,36% 6,98% 7,49% 10,963% NO 2,37% 2,50% NO 1,61% NO NO 0,55% 03/03/ /06/2009 1,71% 3,27% 1,74% 2,03% 1,781% YES 13,92% 8,72% 6,42% 7,47% 10,865% NO 3,33% 2,50% YES 2,26% NO NO 1,02% 02/06/ /09/2009 3,38% 1,62% 1,26% 1,49% 1,755% NO 13,12% 8,63% 5,83% 6,81% 10,758% NO 3,96% 2,50% YES 2,69% NO NO 0,77% 02/09/ /12/2009 1,63% 2,00% 0,27% 0,64% 1,727% NO 12,02% 8,13% 5,51% 6,28% 10,649% NO 4,20% 2,50% YES 2,85% NO NO 0,42% 02/12/ /03/2010 1,70% 7,01% 0,25% 1,32% 1,699% NO 14,43% 8,57% 4,61% 5,62% 10,559% NO 4,65% 2,50% YES 3,16% NO NO 0,63% 02/03/ /06/2010-0,38% 3,38% 0,27% 0,64% 1,673% NO 9,64% 6,41% 4,21% 4,69% 10,472% NO 4,85% 2,50% YES 3,30% NO NO 0,55% 02/06/ /09/2010-1,45% 0,14% 0,24% 0,17% 1,648% NO 15,62% 7,26% 3,91% 4,62% 10,392% NO 4,90% 2,50% YES 3,33% NO NO 0,92% 02/09/ /12/2010-1,67% -5,69% -0,31% -0,88% 1,626% NO 10,72% 5,29% 2,78% 3,18% 10,317% NO 4,67% 2,50% YES 3,18% NO NO 0,35% 02/12/ /03/ ,59% -1,77% -0,06% -0,46% 1,606% NO 11,31% 3,24% 3,08% 3,23% 10,264% NO 4,56% 2,50% YES 3,10% NO NO 0,37% 02/03/ /06/2011-8,29% -1,34% 0,54% 0,26% 1,591% NO 10,68% 7,52% 3,75% 4,11% 10,218% NO 4,62% 2,50% YES 3,14% NO NO 0,64% 02/06/ /09/2011-7,66% -2,16% 1,57% 1,22% 1,577% NO 15,08% 10,94% 3,21% 3,80% 10,181% NO 4,86% 2,50% YES 3,31% NO NO -0,26% 02/09/ /12/2011-6,54% 1,32% 0,21% 0,22% 1,564% NO 12,10% 9,97% 4,68% 5,00% 10,143% NO 4,90% 2,50% YES 3,33% NO NO 1,91% 02/12/ /03/ ,69% -3,36% 0,62% 0,32% 1,554% NO 10,31% 9,87% 3,54% 3,87% 10,122% NO 4,95% 2,50% YES 3,37% NO NO 0,13% 02/03/ /06/ ,82% -0,52% 0,67% 0,57% 1,546% NO 13,86% 9,40% 7,91% 7,99% 10,099% NO 5,04% 2,50% YES 3,43% NO NO 0,28% 04/06/ /09/ ,79% 0,25% 2,48% 2,29% 1,539% YES 6,91% 20,07% 6,23% 6,68% 10,080% NO 5,34% 2,50% YES 3,63% NO NO 0,98% 04/09/ /12/ ,37% -5,96% 2,74% 2,37% 1,533% YES 27,77% 11,98% 3,98% 4,25% 10,068% NO 5,62% 2,50% YES 3,82% NO NO 0,17% 04/12/ /03/ ,83% -1,61% 1,79% 1,66% 1,527% YES 1,35% 8,67% 1,66% 1,82% 10,052% NO 5,79% 2,50% YES 3,94% NO NO 0,08% 02/03/ /06/ ,23% -6,39% -0,04% -0,24% 1,521% NO 18,91% 12,53% 3,20% 3,39% 10,042% NO 5,77% 2,50% YES 3,98% NO NO 0,16% 04/06/ /09/ ,76% 1,03% 0,70% 0,64% 1,517% NO 0,00% 5,47% 9,11% 9,05% 10,032% NO 5,82% 2,50% YES 3,96% NO NO 0,24% 03/09/ /12/ ,58% -25,22% 0,23% -0,16% 1,513% NO 0,00% 8,25% 6,54% 6,56% 10,024% NO 5,81% 2,50% YES 3,95% NO NO 0,02% 03/12/ /03/ ,66% -15,56% 2,72% 2,34% 1,510% YES 0,00% 0,18% 7,29% 7,23% 10,016% NO 5,96% 2,50% YES 4,06% NO NO 0,15% 04/03/ /06/ ,42% -67,07% 2,66% 2,04% 1,507% YES -9,74% 1,19% 6,01% 5,99% 10,010% NO 6,08% 2,50% YES 4,13% NO NO 1,52% 04/06/ /09/ ,03% -58,38% -1,22% -1,59% 1,505% NO -21,25% 0,00% 6,40% 6,40% 10,003% NO 6,00% 2,50% YES 4,08% NO NO 0,50% (*) Net of Recovey Amount (**) Net of cumulative recoveries (***) componet of Prepayments / Collateral Portfolio Outstanding Finanziaria Internazionale Group Page 19

20 Collateral Portfolio (before purchase) QUARTERLY COLLECTION PERIOD OUTSTANDING PRINCIPAL INSTALMENTS UNPAID PRINCIPAL INSTALMENTS ACCRUED OUTSTANDING PRINCIPAL COLLATERAL PORTFOLIO UNPAID INSTALMENTS Pool No. 1 Pool No. 2 Pool No. 3 Pool No. 1 Pool No. 2 Pool No. 3 Pool No. 1 Pool No. 2 Pool No. 3 Pool No. 1 Pool No. 2 Pool No. 3 Pool No. 1 Pool No. 2 Pool No. 3 DEFAULTING RECEIVABLES DEFAULTED RECEIVABLES TOTAL PORTFOLIO 31/10/ /03/ , , , , , , , , , , , , , , , , , ,86 02/03/ /06/ , , , , , , , , , , , , , , , , , ,84 02/06/ /09/ , , , , , , , , , , , , , , , , , , ,46 04/09/ /12/ , , , , , , , , , , , , , , , , , , ,93 04/12/ /03/ , , , , , , , , , , , , , , , , , , ,25 02/03/ /06/ , , , , , , , , , , , , , , , , , , ,05 04/06/ /09/ , , , , , , , , , , , , , , , , , , ,43 04/09/ /12/ , , , , , , , , , , , , , , , , , , ,12 04/12/ /03/ , , , , , , , , , , , , , , , , , , ,23 04/03/ /06/ , , , , , , , , , , , , , , , , , , ,79 03/06/ /09/ , , , , , , , , , , , , , , , , , , ,77 02/09/ /12/ , , , , , , , , , , , , , , , , , , ,20 02/12/ /03/ , , , , , , , , , , , , , , , , , , ,33 03/03/ /06/ , , , , , , , , , , , , , , , , , , ,98 02/06/ /09/ , , , , , , , , , , , , , , , , , , ,39 02/09/ /12/ , , , , , , , , , , , , , , , , , , ,76 02/12/ /03/ , , , , , , , , , , , , , , , , , , ,45 02/03/ /06/ , , , , , , , , , , , , , , , , , , ,61 02/06/ /09/ , , , , , , , , , , , , , , , , , , ,91 02/09/ /12/ , , , , , , , , , , , , , , , , , , ,47 02/12/ /03/ , , , , , , , , , , , , , , , , , , ,60 02/03/ /06/ , , , , , , , , , , , , , , , , , , ,57 02/06/ /09/ , , , , , , , , , , , , , , , , , , ,74 02/09/ /12/ , , , , , , , , , , , , , , , , , , ,88 02/12/ /03/ , , , , , , ,17 836, , , , , , , , , , , ,44 02/03/ /06/ , , , , , , ,45 574, , , , , , , , , , , ,48 04/06/ /09/ , , , , , ,14 961, , , , , , , , , , , , ,51 04/09/ /12/ , , , , , ,32 618, , , , , , , , , , , , ,47 04/12/ /03/ , , , , , ,51 337,31 95, , , , , , , , , , , ,50 02/03/ /06/ , , , , , ,94 373,03 517, , , , , , , , , , , ,88 04/06/ /09/ , , , , , ,33 272,88 187, , , , , , , , , , , ,27 03/09/ /12/ , , , , , ,22 220,74 148, , , , , , , , , , , ,24 03/12/ /03/ , , , , , ,54 184,49 239, , , , , , , , , , , ,39 04/03/ /06/ , , , , , ,06 152,76 183, , , , , , , , , , , ,49 04/06/ /09/ , , , , , ,46 92, , , , , , , , , , , ,98 Finanziaria Internazionale Group Page 20

21 14. Unpaid Instalments by aging and Outstanding Instalments by residual life A) Unpaid Instalments by aging ARREARS (*) 0-30 days days days days days over 181 days TOTAL PRINCIPAL , , , , , , , , , , , , , ,32 TOTAL , , , , , ,92-89,52 (*) In this table "arrears" include the Unpaid Instalments and the Unpaid Interest Instalments B) Outstanding Instalments by residual life RESIDUAL LIFE BY STATUS OF CONTRACTS Indeterminate (0-1) month (2-3) months (4-6) months (7-12) months (2-5) years more than 5 years Total PERFORMING , , , , , , ,40 DELINQUENT , , , , , , ,62 TOTAL , , , , , , ,02 Finanziaria Internazionale Group Page 21

22 Bond Collateralisation NOTES COLLATERAL QUARTERLY COLLECTION PERIOD Class A1 Notes Class A2 Notes Class B Notes Class C Notes Class D Notes Collateral Portfolio (before purchasing Subs. Portf. at the Interest Payment Date) Residual principal cash (*) Subsequent Portfolio (purchased at the Interest Payment Date) Debt Service Reserve Amount (**) 31/10/ /03/ , , , , , , , , ,00 02/03/ /06/ , , , , , , , , ,00 02/06/ /09/ , , , , , ,14 125, , ,00 04/09/ /12/ , , , , , , , , ,00 04/12/ /03/ , , , , , ,94 2, , ,00 02/03/ /06/ , , , , , ,36 35, ,00 04/06/ /09/ , , , , , ,72 30, ,87 04/09/ /12/ , , , , , ,83 41, ,43 04/12/ /03/ , , , , ,64 95, ,46 04/03/ /06/ , , , , ,60 20, ,68 03/06/ /09/ , , , , ,71 86, ,90 02/09/ /12/ , , , , ,92 128, ,30 02/12/ /03/ , , , , ,24 16, ,18 03/03/ /06/ , , , , ,03 103, ,32 02/06/ /09/ , , , , ,43 110, ,56 02/09/ /12/ , , , , ,31 129, ,97 02/12/ /03/ , , , , ,06 10, ,85 02/03/ /06/ , , , , ,01 111, ,10 02/06/ /09/ , , , , ,28 96, ,62 02/09/ /12/ , , , , ,26 10, ,90 02/12/ /03/ , , , , ,35 93, ,66 02/03/ /06/ , , , , ,48 80, ,24 02/06/ /09/ , , , , ,67 97, ,29 02/09/ /12/ , , , , ,14 3, ,39 02/12/ /03/ , , , , ,83 36, ,59 02/03/ /06/ , , , , ,92 80, ,34 04/06/ /09/ , , , , ,71 41, ,07 04/09/ /12/ , , , , ,50 134, ,59 04/12/ /03/ , , , ,15 13, ,87 02/03/ /06/ , , , ,99 2, ,20 04/06/ /09/ , , , ,57 9, ,80 03/09/ /12/ , , , ,81 8, ,20 03/12/ /03/ , , , ,84 9, ,80 04/03/ /06/ , , , ,55 12, ,00 04/06/ /09/ , , , ,35 4, ,80 (*) During the Revolving Period it represents the cash not used to purchase Subsequent Portfolio (principal), during the Amortisation Period it is equal to the principal cash not used to redeem the Notes due to the rounding. (**) Credited into the DSR Account on the relevant Interest Payment Date Finanziaria Internazionale Group Page 22

23 QUARTERLY COLLECTION PERIOD Portfolio Description (after purchase) Breakdown of the Outstanding Instalments: BY POOL BY INDEX RATE BY GEOGRAPHICAL AREA Pool 1 Pool 2 Pool 3 Total Fixed Float Total Northern Italy Central Italy Southern Italy Total 31/10/ /03/ , , , , , , , , , , ,09 02/03/ /06/ , , , , , , , , , , ,79 02/06/ /09/ , , , , , , , , , , ,46 04/09/ /12/ , , , , , , , , , , ,26 04/12/ /03/ , , , , , , , , , , ,87 02/03/ /06/ , , , , , , , , , , ,79 04/06/ /09/ , , , , , , , , , , ,89 04/09/ /12/ , , , , , , , , , , ,08 04/12/ /03/ , , , , , , , , , , ,00 04/03/ /06/ , , , , , , , , , , ,45 03/06/ /09/ , , , , , , , , , , ,54 02/09/ /12/ , , , , , , , , , , ,23 02/12/ /03/ , , , , , , , , , , ,98 03/03/ /06/ , , , , , , , , , , ,48 02/06/ /09/ , , , , , , , , , , ,88 02/09/ /12/ , , , , , , , , , , ,59 02/12/ /03/ , , , , , , , , , , ,11 02/03/ /06/ , , , , , , , , , , ,70 02/06/ /09/ , , , , , , , , , , ,59 02/09/ /12/ , , , , , , , , , , ,51 02/12/ /03/ , , , , , , , , , , ,00 02/03/ /06/ , , , , , , , , , , ,82 02/06/ /09/ , , , , , , , , , , ,06 02/09/ /12/ , , , , , , , , , , ,17 02/12/ /03/ , , , , , , , , , , ,75 02/03/ /06/ , , , , , , , , , , ,46 04/06/ /09/ , , , , , , , , , , ,30 04/09/ /12/ , , , , , , , , , , ,45 04/12/ /03/ , , , , , , , , , , ,12 02/03/ /06/ , , , , , , , , , , ,75 04/06/ /09/ , , , , , , , , , , ,44 03/09/ /12/ , , , , , , , , , , ,14 03/12/ /03/ , , , , , , , , , , ,33 04/03/ /06/ , , , , , , , , , , ,18 04/06/ /09/ , , , , , , , , , , ,15 Finanziaria Internazionale Group Page 23

24 12.a 17.a Portfolio description (after purchase) Breakdown by Pool of the Outstanding Instalments Breakdown by Index of the Outstanding Instalments 0,73% 3,35% 1,75% 98,25% 95,93% Pool 1 Pool 2 Pool 3 Fixed Float Breakdown by Pool of the Outstanding Instalments 19,78% 7,93% 72,29% Northern Italy Central Italy Southern Italy Finanziaria Internazionale Group Page 24