Transaction Details Report Date Interest Period Start Date Interest Period End Date Next Interest Payment Date Previous Interest Payment Date Collection Period Start Date Collection Period End Date 15-Aug-18 26-Apr-18 15-Aug-18 15-Nov-18 N/A 26-Apr-18 31-Jul-18 Contacts Name Treasury Contact Catherine Corbett +353 1 608 5377 Tel Address E-mail Catherine.Corbett@ulsterbankcm.com George's Quay, Dublin 2 Investor Relations Contact Paul Pybus +44 (0)20 7678 1800 Paul.Pybus@rbs.com 250 Bishopsgate, London, EC2M 4AA Documents and Data Sources Prospectus Loan Level Data Investor Reports https://investors.rbs.com/fixed-income-investors/securitisation/residential-mortgages-ardmore.aspx https://eurodw.eu/ https://investors.rbs.com/fixed-income-investors/securitisation/residential-mortgages-ardmore.aspx Counterparties and Ratings DBRS S & P Counterparty / Counterparties Address Rating Trigger Current Rating Rating Trigger Current Rating Issuer Ardmore Securities No. 1 Designated Activity Company 28 Fitzwilliam Place, Dublin 2, Ireland N/A N/A N/A N/A Trustee BNYM Corporate Trustee Services Ltd One Canada Square, London E14 5AL N/A N/A N/A N/A Account Bank The Bank of New York Mellon, Dublin Branch 4th Floor, Hanover Building, Windmill Lane, Dublin 2, Ireland ST A-1 / LT A LT AA ST A-1/LT A LT AA- Principal Paying Agent & Agent Bank The Bank of New York Mellon, London Branch One Canada Square, London E14 5AL N/A ST R-1 (High) / LT AA N/A ST A-1+ / LT AA- Registrar The Bank of New York Mellon SA/NV, Luxembourg Branch Vertigo Building - Polaris 2-4, rue Eugène Ruppert L-2453, Luxembourg N/A N/A N/A ST A-1+ / LT AA- Cash Manager National Westminister Bank Plc 250 Bishopsgate, London EC2M 4AA N/A N/A N/A ST A-2 / LT A- Servicer Ulster Bank Ireland Designated Activity Company Ulster Bank Group Centre, George's Quay, Dublin 2, Ireland N/A N/A N/A ST A-2 / LT BBB+ Corporate Services Provider & Replacement Servicer Facilitator CSC Capital Markets (Ireland) Limited 28 Fitzwilliam Place, Dublin 2, Ireland N/A N/A N/A N/A Subordinated Loan Provider & Servicer Advance Facility Provider Ulster Bank Ireland Designated Activity Company Ulster Bank Group Centre, George's Quay, Dublin 2, Ireland N/A N/A N/A ST A-2 / LT BBB+ Collection Account Bank Ulster Bank Ireland Designated Activity Company Ulster Bank Group Centre, George's Quay, Dublin 2, Ireland N/A N/A N/A ST A-2 / LT BBB+
Note Summary Tranche Identifier (ISIN) A B C Z X XS1805367106 XS1805367445 XS1805367874 XS1805368096 XS1805369144 Stock Exchange Listing Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Currency EUR EUR EUR EUR EUR Issuance Size 1,000,000,000 97,561,000 85,366,000 36,585,000 100,000 Final Maturity Date 15-Aug-57 15-Aug-57 15-Aug-57 15-Aug-57 15-Aug-57 Step up date 15-May-23 15-May-23 15-May-23 15-May-23 15-May-23 Days Accrued 111 111 111 111 111 Original Ratings (S&P/DBRS) AAA / AAA AA+ / AA A / A (high) N/A N/A Current Ratings (S&P/DBRS) AAA / AAA AA+ / AA A / A (high) N/A N/A Payment Frequency Quarterly Quarterly Quarterly Quarterly Quarterly Interest Reference Rate Three-Month EURIBOR Three-Month EURIBOR Three-Month EURIBOR N/A N/A Margin (bps) 35.0 65.0 100.0 550.0 N/A Step-Up margin 70.0 97.5 150.0 550.0 N/A Applicable Coupon Rate 0.035% 0.335% 0.685% 5.500% N/A Current Period Scheduled Coupon 107,916.67 100,772.38 180,300.11 620,420.63 N/A Current Period Coupon Paid 107,916.67 100,772.38 180,300.11 0.00 N/A Deferred Interest of the Period - - - - - Cumulative Deferred Interest - - - - - Opening Principal Balance 1,000,000,000 97,561,000 85,366,000 36,585,000 100,000 Opening Pool Factor 1.00000 1.00000 1.00000 1.00000 1.00000 Current Period Principal Redemption 24,805,147.98 0.00 0.00 0.00 0.00 Cumulative Principal Distribution 24,805,147.98 0.00 0.00 0.00 0.00 Closing Principal Balance 975,194,852.02 97,561,000.00 85,366,000.00 36,585,000.00 100,000.00 Closing Pool Factor 0.975195 1.000000 1.000000 1.000000 1.000000 The Seller retains no less than 5 per cent. of the nominal value of the securitised exposures as at the Closing Date in accordance with paragraph (d) of Article 405(1) of the CRR, Article 51 of AIFMR, and Article 254 of the Solvency II Regulation in compliance with the risk retention undertaking contained in the Mortgage Sale Agreement
Current Payment Date Information Available Revenue Receipts Data 1 (a) Interest on the Transaction Account and income from Authorised Investments - (b) Revenue Receipts 11,100,046.17 (c) Principal Deficiency Excess Revenue Amounts - (d) General Reserve Fund withdrawal to cover Revenue Shortfall - (e) Liquidity Reserve Fund release to cover Class A Shortfall - (f) General Reserve Ledger Residual Amounts - (g) Liquidity Reserve Ledger Residual Amounts - (h) Principal Receipts in accordance with item (b) of Pre-Enforcement Principal Priority of Payments - (i) Principal Receipts in accordance with item (g) of Pre-Enforcement Principal Priority of Payments - (j) Drawings under Servicer Advance Facility - (k) Other income - (l) Reconciliation Amount following a Determination Period - Total 11,100,046.17 Revenue Priority of Payments Data 1 (a) Trustee Fees - (b) Senior Expenses 528,558.22 (c) Issuer Profit Amount 300.00 (d) Interest due on Class A Notes 107,916.67 (e) Liquidity Reserve Ledger Credit - (f) Class A PDL - (g) Interest due on Class B Notes 100,772.38 (h) Class B PDL - (i) Interest due on Class C Notes 180,300.11 (j) Class C PDL - (k) General Reserve Ledger Credit 10,182,198.80 (l) Class Z PDL - (m) Interest due on Subordinated Loan and Servicer Advance Facility - (n) Principal due on Subordinated Loan and Servicer Advance Facility - (o) Interest due on Class Z Notes - (p) Deferred Consideration to Class X Noteholder - Total 11,100,046.17
Available Principal Receipts (a) Principal Receipts 25,229,810.98 (b) Amounts to be credited to the Principal Deficiency Ledger - (c) Reconciliation Amount following Determination Period - (i) Less: Principal Deficiency Excess Revenue Amounts - (ii) Less: the amount used during the immediately preceding collection period to fund any Further Advances (424,663.00) Total 24,805,147.98 (24,805,147.98) - Principal Priority of Payments (a) Further Class A Shortfall Application - (b) A Note Principal 24,805,147.98 (c) B Note Principal - (c) C Note Principal - (c) Z Note Principal - (c) X Note Principal - (g) Available Revenue Receipts - Total 24,805,147.98 Reserves Summary General Reserve Fund General Reserve Fund Required Amount 29,573,175.00 General Reserve Fund B/F - Drawings in Period - Credit Received from Revenue Priority of Payments 10,182,198.80 General Reserve Fund C/F 10,182,198.80 % of Class A Notes 1.04% % of Rated Notes 0.88%
Liquidity Reserve Fund Liquidity Reserve Fund Required Amount 45,000,000.00 Liquidity Reserve Fund B/F 45,000,000.00 Drawings in Period - Release in Period - Credit Received from Revenue Priority of Payments - Liquidity Reserve Fund C/F 45,000,000.00 % of Class A Notes 4.61% % of Rated Notes 3.77% Principal Deficiency Ledger Class Z Note - Class C Note - Class B Note - Class A Note - Principal Deficiency Ledger Breakdown Opening Balance - Losses - Further Class A Shortfall remedy - Aggregate Warehoused Mortgage Account Amount - Aggregate Provisional Arrears Allocation - Cure Debit Entires of Pre-Enforcement Revenue Priority of Payments - Principal Deficiency Excess Revenue Amount - Closing Balance - Subordinated Loan and Servicer Advance Facility Loan Facility Amount 1 68,300,000.00 Loan Principal B/F 48,300,000.00 Interest Amount B/F - Coupon 484,006.25 Interest on B/F Principal in Current Period - Interest on B/F Interest in Current Period - Loan Principal C/F 48,300,000.00 Interest Amount C/F 484,006.25
Data 1 Ardmore Securities No. 1 Designated Activity Company Portfolio Characteristics Unique_ID Mortgage Principal Analysis Mortgage Assets B/F 1,219,536,406.66 Scheduled Redemptions (10,820,764.39) Unscheduled Redemptions (15,209,988.08) Repurchases - Further Advance 424,663.00 Other Movements 800,941.49 Losses and Provisional Arrears Allocation applied to PDL - Mortgage Assets C/F 1,194,731,258.68 Performance Indicators Current LTV Indexed LTV Mortgage Size Seasoning Remaining Term Months in Arrears Minimum Weighted Average Maximum 0.00% 0.00% (1,394.62) - 1.18 0 68.99% 55.67% 214,070.13 35.01 23.82 0.01 91.82% 83.92% 1,131,537.74 102.90 34.70 3.64 Constant Payment Rate Monthly Annualised 01/07/2018-31/07/2018 0.62% 7.20% 01/06/2018-30/06/2018 0.63% 7.35% 26/04/2018-31/05/2018 0.79% 9.12% 01/07/2018 31/07/2018 01/06/2018 30/06/2018 26/04/2018 31/05/2018 Rates Current Period Previous Period Standard Variable Rate 4.3000% Standard Variable Rate Floor 2.1850% 3 Month Euribor -0.3150% Weighted average interest rate on Mortgage Portfolio 3.421%
Stratifications Arrears Breakdown Arrears Breakdown % of total amount Current 7,735 99.17% 1,186,185,251.17 99.28% 100.00% Sort Order 1 80.00% >0 - <1 Months In Arrears 19 0.24% 2,370,438.77 0.20% >=1 - <2 Months In Arrears 36 0.46% 4,591,784.01 0.38% 60.00% >=2 - <3 Months In Arrears 9 0.12% 1,476,092.73 0.12% >=3 - <6 Months In Arrears 1 0.01% 107,692.00 0.01% >=6 - <9 Months In Arrears - - - - 40.00% >=9 - <12 Months In Arrears - - - - >=12 Months in Arrears - - - - 20.00% 0.00% Current 0-1 m 1-2 m 2-3 m 3-6 m 6-9 m 9-12 m 12 + m Arrears Transitions Previous Period Current Period Current >0 - <1 Months In Arrears >=1 - <2 Months In Arrears >=2 - <3 Months In Arrears >=3 - <6 Months In Arrears >=6 - <9 Months In Arrears >=9 - <12 Months In Arrears >=12 Months in Arrears Total Current 7,735 - - - - - - - 7,735 >0 - <1 Months In Arrears 19 - - - - - - - 19 >=1 - <2 Months In Arrears 36 - - - - - - - 36 >=2 - <3 Months In Arrears 9 - - - - - - - 9 >=3 - <6 Months In Arrears 1 - - - - - - - 1 >=6 - <9 Months In Arrears - - - - - - - - - >=9 - <12 Months In Arrears - - - - - - - - - >=12 Months in Arrears - - - - - - - - - Total 7,800 - - - - - - - 7,800
Current LTV Less than 10% 131 1.68% 1,778,307.56 0.15% Over 10% - 20% 178 2.28% 10,403,736.47 0.87% Over 20% - 30% 274 3.51% 24,251,961.48 2.03% Over 30% - 40% 409 5.24% 47,233,606.16 3.95% Over 40% - 50% 606 7.77% 84,322,537.95 7.06% Over 50% - 60% 871 11.17% 130,750,136.69 10.94% Over 60% - 70% 1,148 14.72% 191,348,076.48 16.02% Over 70% - 80% 1,905 24.42% 339,922,854.81 28.45% Over 80% - 90% 2,277 29.19% 364,582,307.08 30.52% Over 90% - 95% 1 0.01% 137,734 0.01% Over 95% - 100% - - - - Over 100% - - - - 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% Current LTV Current Indexed LTV < 50% 3,128 40.10% 388,990,295.95 32.56% 50-55% 748 9.59% 116,563,116.38 9.76% 55-60% 948 12.15% 149,890,144.66 12.55% 60-65% 914 11.72% 168,560,381.80 14.11% 65-70% 947 12.14% 178,006,064.32 14.90% 70-75% 690 8.85% 120,745,310.16 10.11% 75-80% 376 4.82% 64,178,306.63 5.37% 80-85% 49 0.63% 7,797,638.78 0.65% 85-90% - - - - 90-95% - - - - 95-100% - - - - 100-105% - - - - 105-110% - - - - 110-125% - - - - 125-140% - - - - 140-155% - - - - 155-170% - - - - 170%+ - - - - 0.00% < 10% 10-20% 20-30% 30-40% 40-50% 50-60% 60-70% 70-80% 80-90% 90-95% 95-100% 100% + Current Indexed LTV 1 35.00% 2 3 30.00% 4 5 25.00% 6 7 20.00% 8 9 15.00% 10 10.00% 5.00% 0.00% 12 13
Current Mortgage Size < 5,000 83 1.06% (3,072.30) 0.00% 5,001-10,000 2 0.03% 17,718.04 0.00% 10,001-25,000 127 1.63% 2,430,969.90 0.20% 25,001-50,000 460 5.90% 17,900,746.51 1.50% 50,001-75,000 769 9.86% 48,423,715.79 4.05% 75,001-100,000 995 12.76% 87,268,353.06 7.30% 100,001-150,000 2,082 26.69% 258,501,051.22 21.64% 150,001-200,000 1,413 18.12% 245,211,360.46 20.52% 200,001-250,000 809 10.37% 180,663,202.33 15.12% 250,001-300,000 493 6.32% 134,313,371.38 11.24% 300,001-350,000 249 3.19% 79,914,625.80 6.69% 350,001-400,000 155 1.99% 57,643,017.66 4.82% 400,001-450,000 70 0.90% 29,530,340.54 2.47% 450,001-500,000 35 0.45% 16,538,630.28 1.38% 500,001-600,000 36 0.46% 19,318,178.30 1.62% 600,001-700,000 8 0.10% 5,116,085.30 0.43% 700,001-800,000 8 0.10% 5,999,168.78 0.50% 800,001-900,000 2 0.03% 1,702,946.35 0.14% 900,001-1,000,000 1 0.01% 977,195.88 0.08% 1,000,001 + 3 0.04% 3,263,653.40 0.27% Total 7800 100.00% 1,194,731,258.68 100.00% 25% 20% 15% 10% 5% 0% -5% < 5k 5k - 10k 10k - 25k 25k - 50k 50k - 75k 75k - 100k 100k - 150k 150k - 200k Current Mortgage Size 200k - 250k 250k - 300k 300k - 350k 350k - 400k 400k - 450k 450k - 500k 500k - 600k 600k - 100k 700k - 800k 800k - 900k - 1m + 900k 1m Mortgage Size at Origination < 5,000 - - - - 5,001-10,000 - - - - 10,001-25,000 64 0.82% 1,206,783.43 0.10% 25,001-50,000 292 3.74% 10,094,749.91 0.84% 50,001-75,000 615 7.88% 33,078,224.66 2.77% 75,001-100,000 986 12.64% 76,429,266.30 6.40% 100,001-150,000 2,065 26.47% 232,878,496.59 19.49% 150,001-200,000 1,536 19.69% 243,517,765.39 20.38% 200,001-250,000 891 11.42% 182,980,109.78 15.32% 250,001-300,000 592 7.59% 147,164,779.29 12.32% 300,001-350,000 311 3.99% 90,974,843.89 7.61% 350,001-400,000 201 2.58% 68,605,349.28 5.74% 400,001-450,000 100 1.28% 37,630,643.37 3.15% 450,001-500,000 55 0.71% 21,722,811.36 1.82% 500,001-600,000 51 0.65% 23,643,771.60 1.98% 600,001-700,000 17 0.22% 9,262,218.22 0.78% 700,001-800,000 11 0.14% 5,188,959.24 0.43% 800,001-900,000 6 0.08% 4,664,732.91 0.39% 900,001-1,000,000 - - - - 1,000,001 + 7 0.09% 5,687,753.46 0.48% 25% 20% 15% 10% 5% 0% < 5k 5k - 10k 10k - 25k 25k - 50k 50k - 75k 75k - 100k 100k - 150k Mortgage Size at Origination 150k - 200k 200k - 250k 250k - 300k 300k - 350k 350k - 400k 400k - 450k 450k - 500k 500k - 600k 600k - 100k 700k - 800k 800k - 900k - 1m + 900k 1m
Regional Distribution Border 900 11.54% 97,325,235.36 8.15% 1 South-West (IE) 11.59% West 6.34% Regional Distribution Border 8.15% Dublin 2,823 36.19% 548,135,030.66 45.88% Mid-East 1,043 13.37% 170,861,336.64 14.30% Mid-West 527 6.76% 62,108,909.98 5.20% Midland 431 5.53% 46,921,053.30 3.93% South-East (IE) 458 5.87% 55,231,485.20 4.62% 2 3 4 5 6 South-East (IE) 4.62% Midland 3.93% Mid-West 5.20% Dublin 45.88% South-West (IE) 958 12.28% 138,419,670.60 11.59% 7 West 660 8.46% 75,728,536.94 6.34% 8 Mid-East 14.30% Product Rate Type and Reversionary Profiles Issuancce Previous Period Current Period Fixed Rate to SVR 4031 665,306,210.19 54.44% - - - 4302 705,750,826.28 59.07% SVR 3744 556,820,963.90 45.56% - - - 3496 488,728,885.37 40.91% Other - - - - - - 2 251,547.03 0.02% Total 7775 1,222,127,174.09 100.00% - - - 7800 1,194,731,258.68 100.00% Product Switch and Payment Break Issuancce Previous Period Current Period Fixed Rate to New Fixed Rate - - - - - - 193 27,905,359.37 2.34% Fixed Rate to SVR - - - - - - - - - SVR to Fixed Rate - - - - - - 273 48,010,484.27 4.02% Conversion to Tracker - - - - - - 2 251,547.03 0.02% Payment Holiday (Current) - - - - - - - - - Payment Holiday (Historical) - - - - - - - - - Repayment Type Repayment 7799 99.99% 1,194,716,299.74 100.00% IO (due to Forbearance Arrangements) 1 0.01% 14,958.94 0.00% 100% 100% Repayment IO (due to Forbearance Arrangements)
Seasoning 35.00% Seasoning <=12 months 63 0.81% 3,928,523.09 0.33% 12-24 months 2,073 26.58% 390,403,605.46 32.68% 24-36 months 1,945 24.94% 321,543,948.46 26.91% 36-48 months 1,679 21.53% 228,509,473.07 19.13% 48-60 months 940 12.05% 119,151,518.66 9.97% 60-72 months 775 9.94% 91,918,215.29 7.69% 72-84 months 252 3.23% 30,258,455.51 2.53% 84-96 months 42 0.54% 5,247,875.31 0.44% 96-108 months 31 0.40% 3,769,643.83 0.32% 108-120 months - - - - 120-150 months - - - - 150-180 months - - - - 180+ months - - - - 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% 1 2 3 4 5 6 7 8 9 10 11 12 13 <= 12m 12-24m 24-36m 36-48m 48-60m 60-72m 72-84m 84-96m 96-108m 108-120m 120-150m 150-180m 180m + Occupancy Type Owner-occupied 7,800 100.00% 1,194,731,258.68 100.00% Total 7,800 100.00% 1,194,723,468.49 100.00% 1 Loan Purpose Type Remortgage 7.56% Renovation 1.26% Loan Purpose Type Combination 0.13% Debt Consolidation 0.49% House Purchase 6,986 89.56% 1,074,785,316.55 89.96% 1 Remortgage 489 6.27% 90,314,636.42 7.56% Combination 15 0.19% 1,549,243.13 0.13% Renovation 197 2.53% 15,013,167.12 1.26% Debt Consolidation 48 0.62% 5,870,624.39 0.49% 2 Remortgage on Different Terms 54 0.69% 6,059,708.01 0.51% House Purchase 89.96% Remortgage on Different Terms 0.51% Other 0.10% Other 11 0.14% 1,138,563.06 0.10% 3 Income Verification Fully Certified 7,800 100.00% 1,194,731,258.68 100.00% Self Certified - - - - Total 7,800 100.00% 1,194,723,468.49 100.00%
Remaining Term of Loan 40.00% Remaining Term of Loan <= 1 year - - - - 35.00% 1 1-2 years 4 0.05% 67,955.05 0.01% 30.00% 2 2-5 years 69 0.88% 3,097,458.29 0.26% 5-10 years 358 4.59% 24,806,326.56 2.08% 25.00% 3 4 10-15 years 707 9.06% 78,348,503.65 6.56% 20.00% 5 15-20 years 1,249 16.01% 179,140,233.86 14.99% 20-25 years 2,121 27.19% 344,676,273.57 28.85% 25-30 years 2,286 29.31% 400,048,114.12 33.48% 15.00% 10.00% 6 7 8 > 30 years 1,006 12.90% 164,546,393.58 13.77% 5.00% Employment Status 0.00% 100.00% <= 1 year 1-2 years 2-5 years 5-10 years 10-15 years 15-20 years 20-25 years 25-30 years > 30 years Employment Status Employed 7,290 93.46% 1,105,158,809.97 92.50% 75.00% 1 Self-employed 489 6.27% 86,811,360.42 7.27% 2 Pensioners 6 0.08% 296,229.12 0.02% 50.00% 4 Other 15 0.19% 2,464,859.17 0.21% 25.00% 6 0.00% Employed Self-employed Pensioners Other Sold, Recoveries and Loss Current Period Previous Period Cumulative Sold Properties - - - - - - - - - Recoveries from Sold Properties - - - - - - - - - Losses from Sold Properties - - - - - - - - - Loss Severity (% of total) - - - Current Period Cumulative Total Losses as % of Original Pool Balance - - Total Set Off Amount 10,096,806.22 Average Set Off Amount 1,348.04
Forbearance Loans in Forbearance - Type No Secondary Forbearance Secondary Forbearance - Capitalisation of Arrears Secondary Forbearance - Term Extension Reduced Repayment - Amortising - - - - - - - - - - Alternate Treatments - Discount Rate - - - - - - - - - - Reduced Repayment - Interest Only - - - - - - - - - - Other 1 382,374.12 0.03% - - - - - - - Total 1 382,374.12 0.03% - - - - - - - Forbearance - Months in Arrears Currently in Forbearance Came out of Forbearance Never in Forbearance Current - - - 4 550,849.87 0.05% 7,731 1,185,634,401.30 99.24% 99.28% > 0 - < 1 Months in Arrears - - - - - - 19 2,370,438.77 0.20% 0.20% >= 1 - < 2 Months in Arrears - - - - - - 36 4,591,784.01 0.38% 0.38% >= 2 - < 3 Months in Arrears 1 382,374.12 0.03% - - - 8 1,093,718.61 0.09% 0.12% >= 3 - < 6 Months in Arrears - - - - - - 1 107,692.00 0.01% 0.01% >= 6 - < 9 Months in Arrears - - - - - - - - - - >= 9 - < 12 Months in Arrears - - - - - - - - - - >= 1 2 Months in Arrears - - - - - - - - - - Total 1 382,374.12 0.03% 4 550,849.87 0.05% 7,795 1,193,798,034.69 99.92% 100.00%
Primary & Secondary Forbearance - Months in Arrears Capitalisation of Arrears (Only) Term Extension (Only) Both Capitalisation & Term Extension Current - - - - - - - - - - > 0 - < 1 Months in Arrears - - - - - - - - - - >= 1 - < 2 Months in Arrears - - - - - - - - - - >= 2 - < 3 Months in Arrears - - - - - - - - - - >= 3 - < 6 Months in Arrears - - - - - - - - - - >= 6 - < 9 Months in Arrears - - - - - - - - - - >= 9 - < 12 Months in Arrears - - - - - - - - - - >= 1 2 Months in Arrears - - - - - - - - - - Total - - - - - - - - - - Key Primary Forbearance - Months in Arrears Reduced Repayment - Amortising Alternate Treatments - Discount Rate Reduced Repayment - Interest Only Current - - - - - - - - - - > 0 - < 1 Months in Arrears - - - - - - - - - - >= 1 - < 2 Months in Arrears - - - - - - - - - - >= 2 - < 3 Months in Arrears - - - - - - - - - - >= 3 - < 6 Months in Arrears - - - - - - - - - - >= 6 - < 9 Months in Arrears - - - - - - - - - - >= 9 - < 12 Months in Arrears - - - - - - - - - - >= 1 2 Months in Arrears - - - - - - - - - - Total - - - - - - - - - -
Rating Triggers Unique ID Event Trigger Breached Trigger (S&P, DBRS; Short-term, Long-term) Consequence of a Trigger Breach Actions Taken (Yes/No) Data 1 Account Bank Downgrade S&P ST A-1 / S&P LT A DBRS ST A / DBRS LT A No The consequence of breach may include the transfer of amounts standing to the credit of the Transaction Account to a bank account of the Issuer held with a replacement account bank which has the required rating within 30 calendar days from the date of such breach. 1 PT-1 Non-Rating Triggers Event Summary of Event Trigger Breached (Yes/No) Consequence of a Trigger Breach Servicer Termination Events (i) Default made by the Servicer on the due date of any payment due and payable under any Transaction Document to which it is a party and such default continues unremedied for a period of 5 Business Days. (ii) Default made by the Servicer in the performance or observance of any of its other covenants and obligations under any Transaction Document to which it is a party and such default continues unremedied for a period of 30 Business Days. (iii) Revocation of any applicable licence, registration or regulatory permission held and required for the Servicer No A replacement Servicer will be appointed to provide the Services in accordance with the Servicing Agreement. Cash Manager Termination Event (i) Default made by the Cash Manager in the giving of a payment instruction, on the due date, in respect of any payment due and payable by (provided that in each case there are funds available for such payment standing to the credit of the relevant Accounts) and such default (where capable of remedy) continues unremedied for a period of 5 Business Days. (ii) Default made by the Cash Manager in the performance or observance of any of its other material covenants and obligations under the Cash Management Agreement, and such default continues unremedied for a period of 30 Business Days. (iii) Insolvency Event in relation to the Cash Manager; or (iv) it becomes unlawful for the Cash Manager to perform its obligations under the Cash Management Agreement or under any other Transaction Document. No A replacement Cash Manager will be appointed to provide cash management services in accordance with the Cash Management Agreement. Perfection Trigger Events (i) the Issuer, the Trustee or the Seller is obliged to do so by law, a court order or mandatory requirement of any regulatory authority; (ii) an Enforcement Notice has been delivered; (iii) the Security under the Deeds of Charge is in jeopardy; (iv) an Insolvency Event has occurred in relation to the Seller; (v) the termination or resignation of the appointment of the Servicer as servicer of the Mortgage Portfolio under the Servicing Agreement and the failure of any Successor Servicer to assume the duties of the Servicer in such capacity. No The legal transfer and assignment by the Seller to the Issuer of all the Mortgage Loans and their Related Security as soon as reasonably practicable. 3 Conditions / Tests Condition Status Comment Number Consequences Repurchases (Current Balance) Repurchase the entire Mortgage Loan and its Related Further Advance Conditions Met PASS - - Security - Repurchase the entire Mortgage Loan and its Related Product Switch Conditions Met FAIL Conversion to ineligble Product Rate Type 468 76,167,390.67 76,260,575.44 Security Repurchase the entire Mortgage Loan and its Related Mortgage Representations & Warranties FAIL Further Stage Advance identified 49 3,866,760.86 3,871,801.78 Security SVR Floor Level PASS - - Drawdown on the Servicer Advance Facility -
Glossary Term Arrears Arrears Capitalisation Capital Balance Constant Prepayment Rate (CPR) Definition Any amount, contractually due but not paid by the borrower. From time to time, where a Borrower has demonstrated a regular payment history following previous arrears, any outstanding amounts in arrears may be capitalised. Any charges incurred by the customer whilst in arrears will be included within the arrears capitalisation. The arrears tracking balance will be set to zero and the related loan will no longer be considered to be in arrears. The outstanding balance will be required to be repaid over the remaining term of such loan although, in exceptional circumstances, to extension the term of the loan may be agreed. In the majority of cases, capitalisation of interest in respect of a Loan described above is only permitted to be done once in the lifetime of such Loan. Unless specified otherwise, all asset reporting is based on Capital Balance as of the specified date. Capital Balance is the principal balance excluding any principal balance that has been written off. In the relevant table, - 1-month annualised CPR is calculated as 1 - ((1 - monthly CPR) ^ 12), - 3-month average CPR is calculated as the rolling average of the last three 1-month annualised CPR ; where monthly CPR is: (i) total reduction in the principal balance (the main components of which are scheduled monthly repayments and full and part redemptions net of further advances) during the relevant period, divided by (ii) the aggregate outstanding principal balance of the pool as at the start of that period. Current Balance General Reserve Fund Required Amount Liquidity Reserve Fund Required Amount Months in arrears Regions Current Balance is an aggregate of: (a) the Initial Advance; (b) Accrued Interest; (c) Arrears of Interest; and (d) any increase in the principal amount of a Loan due to any Further Advance, in each case relating to such Loan less any prepayment, repayment or payment of the foregoing made on or prior to that date. On any Interest Payment Date prior to the redemption of the Class A, B and C Notes, an amount equal to 2.5% of the Principal Amount Outstanding of the Class A, B, C and Z Notes as at the Issue Date. Following redemption of the Class A, B and C Notes in full, zero. On any Interest Payment Date prior to the redemption of the Class A Notes, an amount equal to 4.5 % of the aggregate Principal Amount Outstanding of the Class A Notes before the application of the Principal Priority of Payments. For reporting purposes, the Months in arrears figure is calculated as the Arrears balance divided by the scheduled monthly payment on an asset. For Regional analysis, Regions are assigned in accordance with internal RBSG classification. Repurchases Split Mortgage Loan SVR Floor The Current Balance is used for Repurchases analysis. Any Mortgage Loan that has been split into a Main Mortgage Account and a Warehoused Mortgage Account (and, for the avoidance of doubt, the Main Mortgage Account and the Warehoused Mortgage Account do not constitute separate or new Mortgage Loans) as part of the Seller's arrears management procedures, with interest payable only in respect of the Main Mortgage Account; 3 Month EURIBOR plus 2.5% Warehoused Mortgage Account The portion of the principal balance that is warehoused until the final redemption date of the Mortgage Loan with the principal balance being payable on such final redemption date. Forbearance Types Term Capitalisation Interest Only Term Extension Reduced Repayment Amortising Discount Rate Other Definition Capitalisation of arrears. Temporary reduced repayment equal to interest amount. Term Extension - postponing maturity date results in lower monthly repayments. Temporary reduced repayment greater than interest. Economic Concession for a period of 3 or 5 years. Other includes moratorium (payment holiday), temporary reduced payment negative-amortising, lifetime positively amortising repayment arrangement, split mortgage, modified mortgage Footnotes Rating Triggers reflect required rating levels per the transaction documents below which a trigger event will occur. Day Count Convention : Actual / 360 Business Days: London, Dublin and TARGET2 business days 1 Loan Facility Amount is comprised of 48.3m Subordinated Loan and 20m Servicer Advance Facility