Kinbane 2024-RPL 1 DAC: 12 April 2024

A stand-alone transaction, where the Issuer will make payments on the Notes from payments of principal and revenue on a portfolio comprising mortgage loans secured over residential properties located in Ireland, the beneficial interest in which will be sold to the Issuer by the Seller (Braunton Property Finance DAC) on the Closing Date.

Each of the Mortgage Loans in the Mortgage Portfolio were originated by the following entities: (a) in respect of the Hartland Mortgage Portfolio, the Governor and Company of the Bank of Ireland (Bank of Ireland or BOI), Bank of Ireland Mortgage Bank Unlimited Company (BOIMB), Start Mortgages, Irish Nationwide Building Society and Irish Bank Resolution Corporation; (b) in respect of the Otterham Mortgage Portfolio, ACC Bank plc (Ireland) (subsequently renamed ACC Loan Management Limited); and (c) in respect of the Braunton Mortgage Portfolio, KBC Bank Ireland Public Limited Company (KBC) (each a Mortgage Loan Originator).

At the cut-off date the portfolio consisted of 2,794 loans, where the average current balance is Eur118,290 and the largest is for Eu2.844mln. Occupancy Type: Owner Occupied – 80.49%, BTL – 16.80%, SME – 2.72%. Current Repayment Method: Capital & Interest – 74.75%, Part Capital & Interest – 9.49%, Interest Only – 14.26%, No Data – 1.51%. Interest Rate Type: Floating rate loan – 79.45%, fixed – 20.55%. The WA current indexed LTV is 68.22% (original WA was 78.96%) and the WA seasoning is 16.36 years. Additional information: Arrears: >=3.01 MIA - 36.96%. Geographical Distribution: Dublin – 30.86%, Cork – 11.14%, Galway – 7.08%.

UK & EU Risk Retention: On the Closing Date, CVI CVF IV Cayman Finance Corporation, CVI CCOF Cayman Finance Corporation, CVI AA Cayman Finance Corporation, CVI AV Cayman Finance Corporation, CVI CVF V Cayman Finance Corporation, CARVAL CCF Cayman Finance Corporation, CARVAL GCF Cayman Finance Corporation, and CVIC Cayman Finance Corporation will retain, on a several basis in accordance with their pro rata allocations, as originators, on an ongoing basis, a material net economic interest of not less than 5% in the securitisation in accordance with Article 6(1) of the UK Securitisation Regulation (as in effect and interpreted at the Closing Date) and Article 6(1) of the EU Securitisation Regulation.

US Risk Retention: Mill City Holdings LLC has agreed to act as "sponsor" under the US Credit Risk Retention Requirements and to comply with Section 15G of the US Securities Exchange Act of 1934.

STS: The Notes are not intended to be designated as a EU STS securitisation or a UK STS securitisation for the purpose of the EU Securitisation Regulation or the UK Securitisation Regulation.

Compare/contrast: Kinbane 2022-RPL 1 DAC, Merrion Square Residential 2023-1