Accent Capital plc (2.625% July 2049): 22 July 2019

The net proceeds from the issue of the Bonds will be advanced by the Issuer to Accent Housing Limited (the Original Borrower).

Accent Group Limited was incorporated in 2008 and is registered with the Regulator of Social Housing. The Group Parent is an exempt charity. The Group Parent and its subsidiaries have been providing housing and services since 1966 and own and manage over 20,000 homes across the north, east and south of England.

The Valuation Report was prepared by Savills Advisory Services Limited:

EUV-SH or, where appropriate, MV-ST

Valued on EUV-SH basis ......Units No. ....... Valued on MV-ST basis ............Units No. .............. Total
£25,333,725 ..............................405 ......................£250,219,145 ..................... 2,595 .................£275,552,870

The Borrower shall deliver a Desk Top Valuation in the period between 31 March and the date falling 120 days thereafter in each year other than a year in respect of which a Valuation Report is required to be delivered under Clause 12.1 (Full Valuations) of the Original Loan Agreement or the corresponding clause in any Additional Loan Agreement, as applicable. The first Desk Top Valuation must be delivered within 120 days of 31 March 2020.