Issuance Platform Overview Pepper Prime and I-Prime Deal size (A$m) Issuance Date Date Called AUSTRALIAN PRIME RMBS 2012-1 500.00 20-Nov-12 November 2017 2013-1 14-Aug-13 2014-1 292.00 10-Apr-14 2015-1 350.00 27-Apr-15 I-Prime 2017-2 17-Aug-17 I-Prime 2017-3 400.00 14-Dec-17 I-Prime 2018-1 550.00 25-May-18 Total A$3,092m Leveraging off the PRS Non Conforming platform, Pepper first issued off its Prime platform in 2012. The asset pools for the first 3 pools were from a portfolio of assets originated by GE in Australia that Pepper purchased in 2011 The deals since 2015 have included only Pepper originated collateral which the business started in 2014. The transaction structures generally incorporate a Super senior AAA note with additional credit support than that required by the rating agencies to achieve a AAA/Aaa rating Credit enhancement is provided by a ‘junior AAA’ tranche as well as tranches rated ‘AA’ to ‘B’ and an equity note Pepper holds the lowest note in the structure and transactions are often structured to meet the risk retention requirements in US, UK and / or EU