East One 2024-1 PLC: 21 April 2024

A stand-alone transaction, where the Issuer will make payments on the Notes and the Certificates from payments of principal and interest received from a portfolio comprising second ranking mortgage loans originated by Equifinance Limited and secured over residential properties located in England, Wales and Scotland which will be purchased by the Issuer from the Seller on the Closing Date. Substitution of the Mortgage Loans contained in the Mortgage Portfolio may occur in accordance with the terms described in the prospectus.

Equifinance is a privately owned company, and originates loans through established relationships with mortgage loan intermediaries. Equifinance is authorised and regulated by the FCA.

As at the Portfolio Reference Date, the Provisional Mortgage Portfolio totalled 6,402 second charge repayment mortgage loans, where the average current balance is £39,418 and largest is £255,398. All properties are owner-occupied. Interest rate type: fixed – 93.01%, floating – 6.99%. The WA Indexed CLTV (including first lien at origination) is 66.43%, OLTV was 68.25% and the WA seasoning is 15.9 months. Geographical Concentration: South East – 17.08%, Greater London – 14.75% and the North West – 13.08%.

UK & EU Risk Retention: On the Closing Date and until all the Notes have been redeemed in full, Equifinance Limited (the Retention Holder) will retain a material net economic interest of not less than 5% in the securitisation (i) as required by Article 6(3)(d) of the UK Securitisation Regulation and (ii) as determined in accordance with such legislation as is in force at the Closing Date in Article 6(3)(d) of the EU Securitisation Regulation.

As at the Closing Date, each of the UK Retention Requirement and the EU Retention Requirement will be satisfied by the Retention Holder subscribing for and thereafter holding the first loss tranche(s) in this case represented by the Retention Holder holding the Class Z Notes and the Class R Notes.

US Risk Retention: The Seller does not intend to retain at least 5% of the credit risk of the securitised assets for purposes of compliance with the final rules promulgated under Section 15G of the Securities Exchange Act of 1934, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

Compare/contrast: Durham Mortgages A - Refinancing (2024), Holmes Master Issuer (2024-1)