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Impresa Two S.R.L: 16 November 2019

The principal source of payment of interest and of repayment of principal on the notes will be the Collections and the Recoveries made in respect of the Aggregate Portfolio of the Receivables deriving from the Loans, being both unsecured and secured loans granted to certain Debtors, including Mortgage Loans and Real Estate Loans. The Issuer has purchased from UniCredit S.p.A. the Initial Portfolio on 11 October 2019, the Second Portfolio on 18 October 2019 and the Third Portfolio on 25 October 2019, pursuant to the terms of the Transfer Agreement. The Purchase Price of such Portfolios will be funded and paid by the Issuer on the Issue Date through the proceeds of the Notes.

The Debtors under the Loans are Small and Medium Enterprises and other enterprises being limited liabilities companies (società a responsabilità limitata), joint stock companies (società per azioni), general partnerships (società in nome collettivo), limited partnerships (società in accomandita semplice), limited joint stock partnerships (società in accomandita per azioni), limited liability cooperative societies/associations (società cooperative a responsabilità limitata) or sole proprietorships (ditte individuali).

Please note that during the Revolving Period, UCI will be entitled to assign to the Issuer further Portfolios of Receivables in accordance with the terms of the Transfer Agreement and the Purchase Price of such Portfolios will be funded and paid by the Issuer on each Payment Date out of the Issuer Principal Available Funds used in accordance with and subject to the applicable Priority of Payments.

At cut-off the portfolio consisted of 103,340 loans.

Debtor Classification (by no. of loans & current balances):

Small corporate with Turnover <= Eur 1,5 mln …………….. ... 84,398 …………… 36.91%
Corporate with Turnover >= Eur 5 mln & <= Eur 50mln …… …5,497 ………………19.54%
Corporate with turnover >= Eur 50mln & <= Eur 250mln … … .1,005 ………………18.77%
Corporate groups with Turnover >= Eur 250 mln ……… …...… .130 …… .......... …10.24%

EU Risk Retention: UCI, in its capacity as Originator, has undertaken that it will retain, on an on-going basis, a material net economic interest of not less than 5% in the Securitisation in accordance with option (d) of Article 6(3) of the Securitisation Regulation and the applicable Regulatory Technical Standards.

US Risk Retention: The Securitisation will not involve risk retention by the Originator for the purposes of the final rules promulgated under Section 15G of the Securities Exchange Act of 1934. The Originator intends to rely on an exemption provided for in Section __.20 of the U.S. Risk Retention Rules regarding non-U.S. transactions that meet certain requirements.

Compare/contrast: Impresa One S.r.l (Redeemed), Brera SEC S.r.l.