Impresa One S.r.l. INVESTOR REPORT

Transcription

1 Impresa One S.r.l. INVESTOR REPORT Securitisation of a portfolio of performing secured and unsecured loans granted to Italian SMEs originated by UniCredit S.p.A. Euro Euro Euro Euro 5,156,100,000 Class A Notes 1,207,700,000 Class B Notes 836,100,000 Class C Notes 2,090,400,000 Class D Notes (Junior Notes) Investor Report Date 26/05/2015 Quarterly Collection Period 01/01/ /03/2015 Interest Period 30/01/ /04/2015 Payment Date 30/04/2015

2 This Investor Report (the Report ) has been prepared by UniCredit Bank AG, London Branch ( UCB ), a member of the UniCredit Group, in its role as Calculation/Computation Agent and is based, inter alia, on the Servicer Reports prepared by the Servicer as well as data provided to UCB by other third parties. Although such information has been obtained from sources believed to be reliable, neither UCB, nor its subsidiaries or affiliates, or any of their respective directors, managers, officers or employees makes any representation as to their fairness, accuracy, completeness or reliability or shall have any responsibility or liability for any loss or damage howsoever arising from or otherwise in connection with the use of this Report. This Report is not for retail customers (as defined by the European Markets in Financial Instruments Directive) and persons into whose possession or attention this document comes must inform themselves about, and strictly observe, any such restrictions. This Report is provided for information purposes only and does not constitute or form part of, nor may be construed so as to constitute or form part of, an offer, or the solicitation of any offer, to buy, sell or subscribe for any securities mentioned herein, nor is it intended to provide an evaluation of the risk related to an investment in such securities or for use by any person in making investment decisions. By accepting this Report, you agree to be bound by the foregoing restrictions. The information provided in the Report can not substitute the obtaining of independent financial advice. UniCredit Bank AG London Branch, Moor House, 120 London Wall, London, EC2Y 5ET, is regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Further details regarding our regulatory status are available on request. If this Report has been sent to you in electronic form, you are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently none of UCB, its subsidiaries or affiliates or any of the directors, officers or employees thereof, accepts any liability or responsibility whatsoever in respect of any difference between the documents distributed to you in electronic format and the hard copy version available to you on request from UCB.

3 Impresa One S.r.l. - DESCRIPTION OF THE NOTES Issuer: Impresa One S.r.l. Issue Date: 24/10/2011 Sole Arranger: UniCredit Bank AG London Sole Lead Manager: UniCredit Bank AG Milan Series Class A Notes Class B Notes Class C Notes Class D Notes Amount issued Currency Final Maturity Date Listing ISIN Code Common Code Clearing System Indexation Spread at Issuance Ratings 5,156,100, ,207,700, ,100, ,090,400, Eur Eur Eur Eur Oct-54 Oct-54 Oct-54 Oct-54 Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange IT IT IT IT Monte Titoli Euroclear Clearstream Monte Titoli Euroclear Clearstream Monte Titoli Euroclear Clearstream Monte Titoli Euroclear Clearstream Euribor 3M Euribor 3M Euribor 3M Euribor 3M 1.00% 1.25% 1.50% 5.00% DBRS AAA A BBB NA Moody's A2 A2 Baa1 NA Originator: Servicer: Rating Agencies Corporate Servicer: Italian Account Bank: English Account Bank: Paying Agent: Representative of Noteholders: Cash Manager Subordinated Loan Provider Junior Notes Subscriber Hedging Counterparty Computation Agent Custodian Bank Sole Quotaholeder UniCredit S.p.A. UniCredit S.p.A. DBRS, Moody's UniCredit Credit Management Bank S.p.A. UniCredit S.p.A. BNP Securities Services, London Branch BNP Securities Services, Milan Branch Securitisation Services UniCredit S.p.A. UniCredit S.p.A.,London Branch UniCredit S.p.A. UniCredit S.p.A. UniCredit Bank AG London BNP Securities Services, Milan Branch Securitisation Vehicles Management S.r.l.

4 Impresa One S.r.l. - CLASS A NOTES Interest Period Interest Amount Accrued Before Payments Payments After Payments Start (included) End (excluded) Payment Date Coupon Days Interest Due Unpaid Interest Principal Interest Principal Unpaid Interest Principal 24/10/ /01/ /01/ % 99 36,805, ,156,100, ,805, ,156,100, /01/ /04/ /04/ % 90 27,559, ,156,100, ,559, ,156,100, /04/ /07/ /07/ % 92 22,663, ,156,100, ,663, ,156,100, /07/ /10/ /10/ % 92 18,645, ,156,100, ,645, ,156,100, /10/ /01/ /01/ % 92 15,759, ,156,100, ,759, ,156,100, /01/ /04/ /04/ % 89 15,627, ,156,100, ,627, ,022,744, ,133,355, /04/ /07/ /07/ % 92 6,580, ,133,355, ,580, ,875, ,843,480, /07/ /10/ /10/ % 92 5,775, ,843,480, ,775, ,025, ,585,454, /10/ /01/ /01/ % 92 4,975, ,585,454, ,975, ,837, ,198,616, /01/ /04/ /04/ % 89 3,852, ,198,616, ,852, ,519, ,097, /04/ /07/ /07/ % 92 3,193, ,097, ,193, ,515, ,581, /07/ /10/ /10/ % 92 2,062, ,581, ,062, ,819, ,762, /10/ /01/ /01/ % 91 1,245, ,762, ,245, ,029, ,733, /01/ /04/ /04/ % , ,733, , ,900, ,832,678.99

5 Impresa One S.r.l. - CLASS B NOTES Interest Period Interest Amount Accrued Before Payments Payments After Payments Start (included) End (excluded) Payment Date Coupon Days Interest Due Unpaid Interest Principal Interest Principal Unpaid Interest Principal 24/10/ /01/ /01/ % 99 9,451, ,207,700, ,451, ,207,700, /01/ /04/ /04/ % 90 7,209, ,207,700, ,209, ,207,700, /04/ /07/ /07/ % 92 6,080, ,207,700, ,080, ,207,700, /07/ /10/ /10/ % 92 5,138, ,207,700, ,138, ,207,700, /10/ /01/ /01/ % 92 4,462, ,207,700, ,462, ,207,700, /01/ /04/ /04/ % 89 4,406, ,207,700, ,406, ,207,700, /04/ /07/ /07/ % 92 4,496, ,207,700, ,496, ,207,700, /07/ /10/ /10/ % 92 4,555, ,207,700, ,555, ,207,700, /10/ /01/ /01/ % 92 4,561, ,207,700, ,561, ,207,700, /01/ /04/ /04/ % 89 4,627, ,207,700, ,627, ,207,700, /04/ /07/ /07/ % 92 4,922, ,207,700, ,922, ,207,700, /07/ /10/ /10/ % 92 4,502, ,207,700, ,502, ,207,700, /10/ /01/ /01/ % 91 4,084, ,207,700, ,084, ,207,700, /01/ /04/ /04/ % 90 3,934, ,207,700, ,934, ,207,700,000.00

6 Impresa One S.r.l. - CLASS C NOTES Interest Period Interest Amount Accrued Before Payments Payments After Payments Start (included) End (excluded) Payment Date Coupon Days Interest Due Unpaid Interest Principal Interest Principal Unpaid Interest Principal 24/10/ /01/ /01/ % 99 7,117, ,100, ,117, ,100, /01/ /04/ /04/ % 90 5,514, ,100, ,514, ,100, /04/ /07/ /07/ % 92 4,743, ,100, ,743, ,100, /07/ /10/ /10/ % 92 4,091, ,100, ,091, ,100, /10/ /01/ /01/ % 92 3,623, ,100, ,623, ,100, /01/ /04/ /04/ % 89 3,567, ,100, ,567, ,100, /04/ /07/ /07/ % 92 3,647, ,100, ,647, ,100, /07/ /10/ /10/ % 92 3,687, ,100, ,687, ,100, /10/ /01/ /01/ % 92 3,692, ,100, ,692, ,100, /01/ /04/ /04/ % 89 3,720, ,100, ,720, ,100, /04/ /07/ /07/ % 92 3,942, ,100, ,942, ,100, /07/ /10/ /10/ % 92 3,651, ,100, ,651, ,100, /10/ /01/ /01/ % 91 3,356, ,100, ,356, ,100, /01/ /04/ /04/ % 90 3,246, ,100, ,246, ,100,000.00

7 Impresa One S.r.l. - COLLECTIONS Collection Period (both dates included) Start End Principal Collected on Receivabless not Classified as Defaulted Receivables (excluding prepayments) Interest Collected on Receivables not Classified as Defaulted Receivabless Recoveries on Defaulted Receivables Pre-payments on Receivables not Classified as Defaulted Receivabless (principal) Receivables repurchased by the Originator 01/09/ /12/ ,459, ,928, ,608, ,783, , ,910, ,969, /01/ /03/ ,513, ,473, ,119, ,872, ,164, ,142, /04/ /06/ ,070, ,286, ,825, ,158, ,507, ,096, ,944, /07/ /09/ ,408, ,859, ,803, ,957, , , ,891, /10/ /12/ ,975, ,452, ,604, ,255, , , ,415, /01/ /03/ ,599, ,193, ,714, ,446, , ,624, /04/ /06/ ,075, ,622, ,627, ,867, , ,780, /07/ /09/ ,866, ,951, ,443, ,198, , ,861, /10/ /12/ ,776, ,959, ,496, ,578, , ,380, /01/ /03/ ,120, ,274, ,455, ,228, , ,779, /04/ /06/ ,714, ,013, ,809, ,465, ,113, , ,595, /07/ /09/ ,287, ,617, ,713, ,220, , ,226, /10/ /12/ ,011, ,314, ,107, ,962, , ,924, /01/ /03/ ,571, ,081, ,245, ,424, , ,781, Other Total Collections

8 Impresa One S.r.l. - Issuer Available Funds Euro Euro INTEREST AVAILABLE FUNDS 28,791, ISSUER PRINCIPAL AVAILABLE FUNDS 362,845, (a) All Interest Collection received by the Servicer 16,493, (a) All Principal Collection recived by the Servicer 146,571, (b) Interest component from the sale of Receivables - (b) Principal component from the sale of Receivable - (c) Interest component of all Prepayments received by the Servicer 46, (c) Principal component of all Prepayments received by the Servicer 17,424, (d) All Recoveries made by the Servicer 12,245, (d) PDL Amount calculated as of the immediately preceding Calculation Date 15,882, (e) Interest accrued and paid on the Cash Accounts 1, (e) Any amount credited and/or retained under items xiv of the Pre- Trigger Interest Priority of Payments - (f) Net amount received from Hedging Counterparty - (f) Any amount not already included in the items above received by the Issuer from Originator as (g) Revenue Eligible Investments Amount - i) payments made pursuant to the Warranty and Indemnity Agreement ii) principal component of all payments made pursuant to the other Transaction Documents - (h) Any other amount standing to the credit of the Collection Account and Payment Account as at the end of the Quarterly Collection Period excluding items included in the Principal (g) Any amount not already included in the items above and standing to the credit of the Principal Available Funds - Account (from the first Payment Date on which repaiment of principal under the Notes is due) (i) The funds standing to the credit of the Renegotiation Reserve Account in the following amount: (h) Funds standing to the credit of the Prepayments Account 182,966, i) before the Payment Date on which the Rated Notes will be redeemed in full, the Interest Quarterly Renegotiation Loss Amount 4, (i) Notes Trigger Event Amount - ii) on the Payment Date on which the Rated Notes will be redeemed in full, all the amounts standing to the credit of the Renegotiation Reserve Account - (l) Funds standing to the credit of the Expenses account on the Payment Date on which all the Notes will be redeemed in full or cancelled - (j) The funds standing to the credit of the Cash Reserve Account in the following amount: i) on each Payment Date, up to (but excluding) to the earlier of (a) the Payment Date on which the (m) on the Maturity Date the funds standing to the credit of the Cash Reserve Account in the amount Rated Notes will be redeemed in full and (b) the Payment Date immediately succeding a Trigger necessary the redeem in full the Rated Notes, to the extent that the funds available under items (a) Notice an amount equal to the lower of the relevant Interest Shortfall and the Cash Reserve - to (l) above are insufficient - ii) on the earlier of the Payment Date on which the Rated Notes will be redeemed in full and the Payment Date immediately succeeding a Trigger Notice, the amount standing on the Cash Reserve Account - (k) All other amount received by the Issuer from any party to the Transaction Documents - ISSUER AVAILABLE FUNDS 375,754,688.26

9 Impresa One S.r.l. - Priority of Payments INTEREST PRIORITY OF PAYMENT PRINCIPAL PRIORITY OF PAYMENT Euro Euro INTEREST AVAILABLE FUNDS 28,791, PRINCIPAL AVAILABLE FUNDS 362,845, First A) Pay Expenses 15, First Credit the Prepayment Amount into the Prepayments Account 178,944, B) Amount necessary to replenish the Expenses Account up to Retention Amount Second Amount to pay the Rated Notes Interest Amount Second Fees, cost and expenses and all other amounts due to: to the extent that the Issuer Available Funds are not sufficient - a) RoN 3, b) Account Banks 3, Third Principal Amount of the Class A Notes 183,900, c) Computation Agent 12, d) Additional Computation Agent 15, Fourth Principal Amount of the Class B Notes - e) Paying Agent f) Custodian Bank - Fifth Principal Amount Oustanding of the Class C Notes - g) Corporate Servicer 54, h) Cash Manager - Sixth Amounts due and payable to the Sole Lead Manager - i) Servicer 2,374, Seventh Principal unpaid under Subordintated Loans not already paid under item (xix) of the Interest PoP - Third Amount due to the Hedging Counterparty under the Hedging Agreement 2,685, Eighth Interest on Junior Notes not already included in item (xxii) - Fourth Amounts due to the Originator in respect of the Instalment Premiums Ninth Principal Amount of the Junior Notes up to Euro 30,000 - Fifth Interest on the Class A Notes 562, Tenth Principal Amount of the Junior Notes until full repayment - Sixth Amount necessary to reduce to zero the debit balance of the Class A PDL - Eleventh Junior Notes Additional Remuneration on the Junior notes - Seventh If there are Class A Notes outstanding and following the occurence of the Class B Notes Trigger Event, (A (2)) credit or retain the remainder of the Issuer Interest Available Funds to the Principal Account - Otherwise (B) Interest on the Class B Notes 3,934, Eight Amount necessary to reduce to zero the debit balance of the Class B PDL - Ninth If there are Class A Notes and Class B Notes outstanding and following the occurence of the Class C Notes Trigger Event, (A (2)) credit or retain the remainder of the Issuer Interest Available Funds to the Principal Account - Otherwise (B) Interest on the Class C Notes 3,246, Tenth Amount necessary to reduce to zero the debit balance of the Class C PDL - Eleventh Amount necessary to reduce to zero the debit balance of the Junior Notes PDL 15,882, Twelfth Credit the Cash Reserve Account to replenishment up to the Scheduled Cash Reserve Amount - Thirteenth Fourteenth Credit and/or retain the remainder of the Issuer Interest Available Funds to the Principal Account if Junior Notes Trigger Event has occured - Amount equal to the portion of Issuer Principal Available Funds used under item (ii) of the Pre-Trigger Principal Priority of Payments on the preceding Payment Date or, to the extent that such amounts have not already been credited to or retained in the Principal Account, on any Payment Date - Fifteenth Amounts due and payable to the Sole Lead Manager - Sixteenth Seventeenth Eighteenth Nineteenth To pay to the Hedging Counterparty any hedging termination payments due under the Hedging Agreement other than any amounts already included in item (iii) above. - All amount payable to the Originator as Portfolio Accrued Interest, Adjustment Purchase Price, interest on the Purchase Price or under the Transfer Agreement - Interest on a) the Cash Reserve Subordinated Loan - b) the Renegotiation Reserve Subordinated Loan - Principal on a) the Cash Reserve Subordinated Loan - b) the Renegotiation Reserve Subordinated Loan - Twentieth Fees, costs, liabilities and any other expenses to be paid to fulfill obligations to Other issuer Creditor - Twenty-first Amounts payable to the Originator a) under the Warranty and Indemnity Agreement - b) in connection with a limited recourse loan made under the Letter of Undertakings - c) without of duplication of item [xvii], under any other Transaction Document - Twenty-second Interest on the Junior Notes - Twenty-third Junior Notes Additional Interest Amount -

10 Impresa One S.r.l. - Triggers Class B Notes Trigger Event 14.39% NOT HIT Class C Notes Trigger Event 14.39% NOT HIT Junior Notes Trigger Event 14.39% HIT

11 Impresa One S.r.l. - PORTFOLIO PERFORMANCE a. PRINCIPAL DEFICIENCY LEDGER PDL at start Amount Debit to the PDL Amount Credit to the PDL PDL at end Class A Notes Class B Notes Class C Notes Junior Notes 972,869, ,109, ,882, ,013,096, b. Cash Reserve Account CASH RESERVE Scheduled Cash Reserve Amount Cash Reserve at beginning Amount drawn down in the period Cash Reserve Excess Amount Cashe Reserve at the end replenished in the period b.1 Total 31,104, ,862, ,758, ,104, c.. Renegotiation Reserve Account Funds utilised during the period RENEGOTIATION RESERVE Minimum Renegotiation Reserve Amount Further disbursment Available Renegotiation Reserve Amount at the beginning c.1 Total 20,000, ,670, ,049, , Amount replenished Renegotiation Reserve Account at the end - 189,045, d. CASH RESERVE SUBORDINATED LOAN Principal Euribor fixing Margin (%) Interest Rate Days Interest Accrued d.1 Total 80,322, % 3.000% 3.053% , ok ok ok ok Before Payment Payments After Payment Principal Unpaid Interest Principal Interest Principal Unpaid Interest 80,322, ,659, ,758, ,564, ,272, e. RENEGOTIATION RESERVE SUBORDINATED LOAN Principal Euribor fixing Margin (%) Interest Rate Days Interest Accrued e.1 Total 190,000, % 3.000% 3.053% ,450, ok ok Before Payment Payments After Payment Principal Unpaid Interest Principal Interest Principal Unpaid Interest 190,000, ,804, ,000, ,255, During the collection period In the previous collection period Collections Total principal Total interest Total Collections Total principal Total interest Total Collections f. f.1 Total 163,995,516 28,786, ,781, ,974, ,950, ,924, During the collection period In the previous collection period In two previous collection periods In three previous collection periods Portfolio status Number of loans amount % on the current ousttanding % on the initial portfolio Number of loans amount Number of loans amount Number of loans amount g. g.1 Performing Receivables 19,266 2,772,865, % 29.85% 21,728 3,019,693, ,461 3,241,956, ,557 3,468,266, g.2 Delinquent Receivables which are not classified as Defaulted 1, ,680, % 2.20% 1, ,957, , ,888, , ,100, g.3 Defaulted Receivables (net of recovery) 6,928 1,224,708, % 13.18% 6,735 1,181,465, ,391 1,119,538, ,053 1,075,533, g.4 Total 27,340 4,202,253, % 45.23% 29,700 4,379,115, ,294 4,607,383, ,185 4,806,900, During the collection period In the previous collection period In two previous collection periods In three previous collection periods Arrears status Number of loans amount % on the current ousttanding % on the initial portfolio Number of loans amount Number of loans amount Number of loans amount h. h.1 from 0 to 29 days ,974, % 0.85% ,882, ,738, ,426, h.2 from 30 to 59 days 1 203, % 0.00% ,546, ,836, ,475, h.3 from 60 to 89 days ,910, % 0.63% ,696, ,516, ,654, h.4 from 90 to 119 days ,968, % 0.14% 87 6,481, ,159, ,888, h.5 from 120 to 149 days 80 7,421, % 0.08% 90 9,077, ,199, ,769, h.6 from 150 to 179days 55 8,994, % 0.10% 86 27,440, ,360, ,410, h.7 from 180 to 209 days 30 3,980, % 0.04% 46 9,631, ,250, ,116, h.8 from 210 to 239 days 32 2,954, % 0.03% 50 6,679, ,284, ,257, h.9 from 240 to 269 days 33 16,492, % 0.18% 34 16,130, ,450, ,380, h.10 from 270 to 299 days 25 2,750, % 0.03% 23 2,341, ,666, ,523, h.11 from 300 to 329 days 21 3,631, % 0.04% 18 1,691, ,431, ,019, h.12 from 330 to 359 days 14 7,358, % 0.08% 20 11,358, ,984, ,905, h.13 oltre 360 days 1 39, % 0.00% ,009, ,270, h.14 Total 1, ,680, % 2.20% 1, ,957, , ,888, , ,100, i. In two previous collection In three previous collection Defaulted loans (gross of recoveries) During the collection period % on the initial portfolio In the previous collection period Total over the four periods Gross cumulative default % on the initial portfolio periods periods i % ,646 7, % i.2 Amount classified as Default * 56,109, % 74,220, ,013, ,295, ,640, ,337,239, % * As defined in the Offering Circular dated 24/10/2011 "Defaulted Receivables" means the Receivables which have been (i)delinquent Receivables for more than 365 days or (ii) classified as Crediti ad Incaglio or Crediti in Sofferenza. l. In two previous collection In three previous collection Amount written-off during the Total amount written-off as % on the amount Recovery on loans classified as default During the collection period % on the Cumulative Default In the previous collection period Total amount written-off periods periods period classified as default l.1 Recovered amount 12,245, % 11,107, ,713, ,809, ,875, ,558, %

12 m. At the end of the second At the end of the third previous Cumulative pre-paid Pre-payments During the collection period % on the initial portfolio At the end of the previous collection period Total over the four periods % on the initial portfolio previous collection periods collection periods amount m.1 Principal component 17,424, % 32,962, ,220, ,465, ,072, ,370, % n. In two previous collection In three previous collection % of the cumulative repurchase over the initial Receivables repurchased by the Originator During the collection period % over the initial portfolio In the previous collection period Total over the four periods Cumulated periods periods portfolio n.1 Principal component % - - 2,667, ,667, ,966, % n.2 Number of Receivables % % o. Debtors Amount % o.1 Number of loans top 10 debtors % o.2 Top 10 debtors (% of Principal of the Master Portfolio) 159,386, % o.3 Number of loans top 20 debtors % o.4 Top 20 debtors (% of Principal of the Master Portfolio) 278,850, % p. Type of Interest Amount % p.1 Receivables paying a Fixed Rate 402,691, % p.2 Receivables paying a Floating Rate 2,574,853, % q. Amount classified as Residual waiver limit as Amount classified as incaglio/sofferenza Recoveries during the collection Total loss from Closing Total recoveries from Waiver limit as % of original portfolio principal Out-of-cort settlement Number of loans settled in the period Loss during the (collection) period incaglio/sofferenza, then settled % of original portfolio Indemnities then settled in the period period (including the collection period) settlements from Closing outstanding amount from Closing principal outstanding q.1 Settlements related to secured defaulted loans q.1 (i) Weighted Average Loss up to 40% 5 564, , , , , , q.1 (ii) Waiver loss up to 75% ,806, ,806, q.1 (iii) Waiver: loss up to 50% ,515, ,515, Settlements related to Unsecured defaulted loans q.2 q.2 (i) Weighted Average Loss up to 70% , , , ,224, , ,295, q.2 (ii) Waiver loss up to 90% ,806, ,806, q.2 (iii) Waiver: loss up to 80% ,515, ,515, q.3 Settlements related to secured loans classified as "incaglio" q.3 (i) Weighted Average Loss up to 20% 21 1,185, , ,008, ,041, , ,699, q.4 Settlements related to Unsecured loans classified as "incaglio" q.4 (i) Weighted Average Loss up to 40% , , , ,036, ,851, ,360, Others q.5 q.5 (i) Settlements on deflinquent receivables q.5 (ii) Settlements on performing receivables Total 68 2,850, , ,287, ,059, ,420, ,057, q.6 r. Total Renegotiation amount from Aggregated renegotiation losses (including Renegotiation Renegotiation loss of the collection period % on the initial portfolio renegotiations completed during the period the collection period) r.1 Interest rate : Fixed to Fixed % Fixed to Floating % Floating to Fixed 12, , % Floating to Floating , % r.2 Amortization plan 90,927 3, , % r.3 Payment holiday* % * The Payment Holidays which accounts for the allocation of the Renegotiation Cash Reserve are related to the temporary suspention of interest payments s. % of Principal of all amount (at repurchase date) of amount (at repurchase date) of repurchased Portfolio minus or Receivables repurchased by the Originator Repurchase price**** the repurchased receivables classified as the repurchased receivables not classified equal to 7% of Portfolio Purchase default at repurchase date***** as default at repurchase date***** Price s.1 Total YES/VERO ****According to the Transfer Agreement / Come indicato nel Contratto di Cessione *****According to the certification made by the Originator / Come certificato dall'originator

13 Impresa One S.r.l. - PORTFOLIO DESCRIPTION At the end of the General Information about the Portfolio current Collection a. Period : 1 a.1 20,412 2 a.2 Oustanding Portfolio Amount: 2,977,545, a.3 Instalment interest component 28,786, a.4 Interest amount from pre-payment 46, a.5 Weighted Average Remaining Term (2): a.6 Weighted Average rate (fix rate) (2): 5.66% 6 a.7 Weighted Average spread (floating rate) (2): 1.50% b. % of Borrower ID No Amount SAE Region Amount ,000, % LAZIO ,358, % LAZIO ,324, % LAZIO ,938, % TRENTINO ALTO ADIGE ,024, % LOMBARDIA ,248, % VALLE D'AOSTA ,157, % LAZIO ,765, % EMILIA ROMAGNA ,765, % EMILIA ROMAGNA ,803, % LOMBARDIA ,520, % LAZIO ,431, % LAZIO ,261, % EMILIA ROMAGNA ,162, % TRENTINO ALTO ADIGE ,155, % TOSCANA ,800, % TOSCANA ,625, % SICILIA ,606, % LOMBARDIA ,527, % SICILIA ,372, % SARDEGNA Total 278,850, % 24 At the end of the Collection Period amount c. Amount Amount Loans Loans 1 c.1 from 0 (included) to (excluded) Euro 15, % 400,578, % 48, % 1,649,001, % 2 c.2 from (included) to (excluded) Euro 2, % 320,060, % 7, % 991,677, % 3 c.3 from (included) to (excluded) Euro % 219,290, % 2, % 647,384, % 4 c.4 from (included) to (excluded) Euro % 164,058, % 1, % 448,880, % 5 c.5 from (included) to (excluded) Euro % 118,357, % % 378,591, % 6 c.6 from (included) to (excluded) Euro % 95,538, % % 255,899, % 7 c.7 from (included) to (excluded) Euro % 97,631, % % 238,089, % 8 c.8 from (included) to (excluded) Euro % 89,857, % % 223,786, % 9 c.9 over (included) Euro % 1,472,172, % 1, % 4,456,989, % 10 c.10 Total 20, % 2,977,545, % 63, % 9,290,300, % At the end of the current Collection Period Portfolio Seasoning (3) d. Amount Amount Loans Loans d.1 from 0 (included ) to 24 (excluded ) months % % 31, % 3,371,664, % 1 d.2 from 24 (included) to 48 (excluded) months 1, % 116,870, % 19, % 2,937,366, % 2 d.3 from 48 (included) to 72 (excluded) months 10, % 931,308, % 8, % 2,142,710, % 3 d.4 from 72 (included) to 96 (excluded) months 3, % 1,086,562, % 3, % 754,300, % 4 d.5 from 96 (included) to 108 (excluded) months 1, % 423,595, % % 84,259, % 5 d.6 from 108 (included) to 120 (excluded) months 1, % 249,194, % % % 6 d.7 from 120 (included) to 150 (excluded) months 1, % 170,012, % % % d.8 from 150 (included) to 180 (excluded) months % % % % 8 d.9 over 180 (included) months % % % % 10 d.10 Total 20, % 2,977,545, % 63, % 9,290,300, %

14 e. At the end of the Collection Period Remaining Term (4) Amount Amount Loans Loans 1 e.1 from 0 (included) to 12 months (excluded) 6, % 106,677, % 5, % 393,345, % 2 e.2 from 12 (included) to 24 months (excluded) 3, % 184,794, % 10, % 720,373, % 3 e.3 from 24 (included) to 48 months (excluded) 2, % 384,957, % 23, % 1,830,600, % 4 e.4 from 48 (included) to 72 months (excluded) 2, % 505,330, % 11, % 1,640,835, % 5 e.5 from 72 (included) to 96 months (excluded) 1, % 563,682, % 3, % 1,074,828, % 6 e.6 from 96 (included) to 120 months (excluded) 1, % 486,556, % 3, % 1,165,801, % 7 e.7 from 120 (included) to 160 months (excluded) 1, % 543,180, % 3, % 1,400,942, % 8 e.8 from 160 (included) to 200 months (excluded) % 162,974, % 2, % 821,930, % 9 e.9 over 200 (included) months % 39,389, % % 241,643, % 10 e.10 Total 20, % 2,977,545, % 63, % 9,290,300, % At the end of the current Collection Period f. By Region (b) Amount Amount Loans Loans 1 f.1 ABRUZZO % 38,043, % % 132,369, % 2 f.2 BASILICATA % 10,783, % % 31,185, % 3 f.3 CALABRIA % 19,555, % % 77,143, % 4 f.4 CAMPANIA 1, % 140,696, % 4, % 528,193, % 5 f.5 EMILIA ROMAGNA 2, % 434,689, % 6, % 1,298,190, % 6 f.6 FRIULI VENEZIA GIULIA % 62,577, % 1, % 262,916, % 7 f.7 LAZIO 1, % 333,012, % 4, % 838,870, % 8 f.8 LIGURIA % 37,708, % 1, % 159,778, % 9 f.9 LOMBARDIA 2, % 419,376, % 7, % 1,364,711, % 10 f.10 MARCHE % 44,427, % 1, % 194,806, % 11 f.11 MOLISE % 5,291, % % 34,695, % 12 f.12 PIEMONTE 2, % 200,675, % 8, % 834,056, % 13 f.13 PUGLIA 1, % 105,504, % 3, % 323,577, % 14 f.14 SARDEGNA % 20,444, % 1, % 101,258, % 15 f.15 SICILIA % 94,506, % 2, % 385,327, % 16 f.16 TOSCANA 1, % 167,397, % 3, % 542,648, % 17 f.17 TRENTINO ALTO ADIGE % 134,216, % 1, % 280,818, % 18 f.18 UMBRIA % 107,660, % 1, % 235,015, % 19 f.19 VALLE D'AOSTA % 2,828, % % 16,351, % 20 f.20 VENETO 3, % 598,147, % 10, % 1,648,385, % 21 f.21 Total 20, % 2,977,545, % 63, % 9,290,300, % At the end of the current Collection Period g. Payment Frequency Amount Amount Loans Loans 1 g.1 Monthly 16, % 1,291,915, % 51, % 4,210,747, % g.2 Bi monthly % % % 121, % g.3 Quarterly 2, % 825,876, % 7, % 2,644,892, % g.4 Four Monthly % % % 203, % g.5 Semy Annually 1, % 846,223, % 5, % 2,344,411, % g.6 Annually % 13,529, % % 80,638, % g.7 Other % % % 9,285, % 3 g.5 Total 20, % 2,977,545, % 63, % 9,290,300, % At the end of the current Collection Period h. Payment Type Amount Amount Loans Loans 1 h.1 Direct debit 19, % 2,849,408, % 63, % 9,179,972, % h.2 R.I.D % 34,794, % % % h.3 Cash payment % 90,938, % % 110,327, % 2 h.4 Other % 2,403, % % % 5 h.3 Total 20, % 2,977,545, % 63, % 9,290,300, % At the end of the current Collection Period i. Type of products Amount Amount Loans Loans 2 i.1 Secured loans 9, % 2,480,305, % 15, % 5,208,618, % i.2 Unsecured Loans 10, % 497,239, % 48, % 4,081,682, % 3 of wich Agrari % 13,193, % 3, % 171,845, % 5 i.4 Total (i.1 plus i.2) 20, % 2,977,545, % 66, % 9,462,146, %

15 l. At the end of the current Collection Period By Client Segment (SAE) Amount Amount Loans Loans 1 l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % 1,439, % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % 7,500, % % % l % 120, % % 6,752, % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % 470, % % % l % 1, % % % l % 1,032, % % 4,749, % l % 39,695, % % % l % % % % l % % % % l % % % % l % % % % l % % % % l , % 2,114,184, % 28, % 6,806,885, % l % % % 358,116, % l % 72,533, % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % 46,246, % % % l % 195, % % % l % 2,835, % % 24,739, % l % 14,166, % % 44,499, % l , % 92,084, % 5, % 312,175, % l % 36,141, % % 90,555, % l % 14,308, % % 50,738, % l , % 325,959, % 9, % 856,596, % l % % % % l % 477, % % % l % % % % l % % % % l % 26,093, % % % l , % 51,811, % 5, % 198,261, % l , % 131,341, % 11, % 534,596, % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % 195, % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % % % % l % 22, % % % l % % % % l % % % % l % % % % l % % % % l % % % % l.115 Altri % 322, % % % 3 l.5 Total 20, % 2,977,545, % 63, % 9,290,300, %

16 m. At the end of the current Collection Period Interest Rate Type Amount Amount Loans Loans 1 m.1 Fix 5, % 402,691, % 20, % 1,279,464, % 2 m.2 Floating 14, % 2,574,853, % 43, % 8,010,836, % 5 m.3 Total 20, % 2,977,545, % 63, % 9,290,300, % At the end of the Collection Period Interest Rate (fixed loans) n. Amount Amount Loans Loans 1 n.1 0% (included) - 3% (excluded) % 2,619, % % 2,820, % 2 n.2 3% (included) - 4% (excluded) % 9,705, % % 35,277, % 3 n.3 4% (included) - 5% (excluded) % 41,934, % 2, % 178,210, % 4 n.4 5% (included) - 6% (excluded) 2, % 221,090, % 7, % 630,800, % 5 n.5 >=6% 2, % 127,341, % 9, % 432,356, % 10 n.6 Total 5, % 402,691, % 20, % 1,279,464, % o. At the end of the Collection Period Margins (floating loans) Amount Amount Oustanding Loans Loans o.1 0% (included) - 1% (excluded) 1, % 731,883, % 2, % 1,824,763, % o.2 1% (included) % (excluded) 1, % 454,827, % 4, % 1,274,305, % o % (included) - 1.5% (excluded) 1, % 250,681, % 3, % 806,139, % o.4 1.5% (included) % (excluded) 1, % 270,773, % 4, % 768,515, % o % (included) - 2% (excluded) 1, % 205,235, % 2, % 645,358, % o.6 >=2% 7, % 661,450, % 25, % 2,691,753, % 0.7 Total 14, % 2,574,853, % 43, % 8,010,836, %

17 p. At the end of the current Collection Period By Client Industry (NACE) Amount Amount Loans Loans 2 p % 82,709, % 3, % 352,258, % p % 2,010, % % 5,872, % p % 1,460, % % 5,172, % p % % % % p % % % % p % % % 58, % p % % % 26, % p % 16,077, % % 33,113, % p % % % 770, % p % 82,197, % 1, % 281,548, % p % 10,474, % % 49,790, % p % 3, % % 819, % p % 7,427, % % 84,196, % p % 11,450, % % 67,342, % p % 8,281, % % 46,447, % p % 18,296, % % 88,763, % p % 8,565, % % 45,076, % p % 10,766, % % 44,668, % p % 1,430, % % 14,293, % p % 22,115, % % 85,907, % p % 10,755, % % 23,588, % p % 32,769, % % 142,653, % p % 28,880, % % 173,335, % p % 25,377, % % 118,238, % p % 68,446, % 2, % 306,061, % p % 10,658, % % 55,549, % p % 13,738, % % 77,338, % p % 36,020, % % 228,368, % p % 7,128, % % 39,479, % p % 16,493, % % 63,261, % p % 16,598, % % 74,311, % p % 20,927, % % 69,160, % p % 6,389, % % 40,401, % p % % % % p % 28,063, % % 108,742, % p % 12,040, % % 37,280, % p % 4,217, % % 11,953, % p % 12,038, % % 43,451, % p % 54, % % 5,160, % p % % % % p , % 239,498, % 4, % 864,351, % p % 11,147, % % 64,831, % p , % 39,170, % 3, % 185,408, % p % % % % p % 53,582, % 2, % 227,291, % p , % 149,241, % 6, % 662,897, % p , % 184,410, % 8, % 626,169, % p % % % % p % 34,858, % 2, % 153,403, % p % 2,780, % % 18,849, % p % 87, % % 3,520, % p % 30,337, % % 74,038, % p % 141, % % 1,056, % p % % % % p % 190,564, % 1, % 379,757, % p , % 93,279, % 3, % 228,325, % p % % % % p % 3,575, % % 11,358, % p % 1,775, % % 18,455, % p % 1,744, % % 7,676, % p % 2,552, % % 6,778, % p % 8,675, % % 62,355, % p % 10,030, % % 36,694, % p % 3,446, % % 172,009, % p % % % % p % 2,016, % % 3,640, % p % % % % p , % 913,694, % 4, % 1,768,297, % p % 7,574, % % 14,072, % p % 111,978, % % 201,463, % p % 7,053, % % 22,090, % p % 1,316, % % 8,529, % p % 4,946, % % 12,965, % p % 12,934, % % 31,665, % p % 4, % % 76, % p % % % % p % 7,172, % % 30,822, % p % 204, % % 2,141, % p % 8,972, % % 20,075, % p % 1,916, % % 7,291, % p % 7,441, % % 46,986, % p % 24,182, % % 136,076, % p % % % % p % % % 20, % p % 8,689, % % 23,182, % p % 29,657, % % 76,789, % p % 14,516, % % 22,615, % p % 4,483, % % 9,538, % p % % % % p % 2,103, % % 8,571, % p % 1,323, % % 2,253, % p % 361, % % 5,102, % p % 13,295, % % 52,883, % p % % % 134, % p % 3,287, % % 14,458, % p % 17,905, % 1, % 54,503, % p % % % % p % % % 17, % p % % % 44, % 3 p.100 ALTRO % 75,744, % % 84,297, % 5 p.101 Total 20, % 2,977,545, % 63, % 9,290,300, % Amount at the end of Set-off amount q. Collectin Period 2 q.1 Accounts 35,898,347 q.2 Bonds 84,491,285 q.3 Derivatives 1,956,391 q.4 Total 122,346,023 (a) It relates to the Portfolio non classified as Default, as of the end of the collection period, once the payment of the collected instalments according to the spreadsheet "Collection" has been done. (b) It relates to the Region of the Original Branch which granted the loans (2) Average weighted by outstanding amount (3) Calculated as the difference between the reporting date and the origination date (4) Calculated as the difference between the maturity date and the reporting date