Monthly Investor Report 31 October 2018 Fastnet Securities 5 Limited Tranche Name Identifier Legal Maturity Date Original Tranche Balance Restructured Tranche Balance Original Rating Current Rating (S&P/Moodys) (S&P/Moodys) Class A1 XS0392181946 September 2050 510,000,000.00 396,800,000.00 Redeemed Redeemed Class A2 XS0392182753 September 2050 510,000,000.00 396,600,000.00 Redeemed Redeemed Class A3 XS0392183058 September 2050 527,000,000.00 396,600,000.00 AAA/Aaa AA-/Aa1 Class B XS0392183645 September 2050 153,000,000.00 510,000,000.00 N/R N/R Deal Information Report Outline Page Initial Issue Date: 20-Oct-08 1. Note Summary 2 First Distribution Date: 10-Dec-08 Report Date: 12-Nov-18 2. October Payment Date Information 3 Report Period: Oct-18 i. Available Revenue Funds Report Frequency: Monthly ii. Revenue Priority of Payments Payment Frequency: Monthly iii. Available Principle Funds iv. Principle Priority of Payments v. Transaction Account Balance Interest Period start date: 10-Sep-18 vi. Prepayments Ledger Interest Period end date: 10-Oct-18 vii. Trust Account Balance Number of Days in interest period: 30 viii. Retained Amounts 3. Credit Enhancement 3 i. Reserve Fund Determination Date 08-Oct-18 ii. Reserve Fund Reduction Triggers October Payment Date 10-Oct-18 iii. Performance Triggers November Payment Date 12-Nov-18 4. Collateral Performance 4-8 i. Portfolio Characteristics Restructuring Date: 21-Oct-11 ii. Arrears Profile iii. Moratorium Profile iv. Moratorium Length v. Repayment Type Change vi. Repossessions vii. Term Extensions viii. Capitalised Interest ix. Mortgage Portfolio Analysis 5. November Payment Date Information 9 i. Available Revenue Funds Contact Information ii. Revenue Payments iii. Reserve Funds iv. Available Principle Funds v. Principle Payments Contact: Fiona Walsh vi. Amounts Credited to Ledgers Address: Permanent TSB 6. Deal Participant Information 10 56/59 St Stephens Green Dublin 2 Ireland 7. Definitions 11 i. Constant Redemption Rate Phone: 00353 (0)1 2462451 ii. Constant Default Rate Fax: 00353 (0)1 6695868 iii. Excess Spread iv. Mortgage Conversion Email: PTSBSecuritisations@permanenttsb.ie v. Bank Accounts Web: www.permanenttsbgroup.ie vi. Restructuring Note Page 1
1. Note Summary Tranche Name Identifier Legal Maturity Date Restructured Tranche Balance Restructured Closing Balance 31-Nov 11 Opening Tranche Balance 01-October 18 Opening Pool Factor Principal Distribution Cumulative Principal Distribution Closing Tranche Balance 10-October 18 Post Restructure 31-October 18 Closing Pool Factor Principle Deficiency Ledger Opening Balance 01- October 18 Lossess Allocated Cumulative Losses Allocated Total Paid Cumulative Paid Class A1 XS0392181946 September 2050 396,800,000.00 342,800,000.00 0.00 0.00000000 0.00 0.00 0.00 0.00000000 0.00 0.00 0.00 0.00 0.00 0.00 Class A2 XS0392182753 September 2050 396,600,000.00 342,650,000.00 0.00 0.00000000 0.00 0.00 0.00 0.00000000 0.00 0.00 0.00 0.00 0.00 0.00 Class A3 XS0392183058 September 2050 396,600,000.00 342,650,000.00 316,687,642.06 0.79850641 4,880,252.67 30,842,610.61 311,807,389.39 0.78620118 0.00 0.00 0.00 0.00 0.00 0.00 Class B XS0392183645 September 2050 510,000,000.00 440,655,672.25 440,655,672.25 0.86403073 0.00 0.00 440,655,672.25 0.86403073 365,151.99 0.00 365,151.99 0.00 0.00 365,151.99 Note: On the 21st October 2011 the principal amount on the notes was restructured 1,700,000,000.00 1,468,755,672.25 757,343,314.31 0.44549607 4,880,252.67 30,842,610.61 752,463,061.64 0.44262533 365,151.99 0.00 365,151.99 0.00 0.00 365,151.99 Closing Balance 31 - October 18 Tranche Name Fixed Coupon Interest Calculation Days Accrued Interest Accrued Interest Distributed 10 October 18 Unpaid Interest Cumulative Unpaid Interest Class A1 0.50000% Actual / 360 19 0.00 0.00 0.00 0.00 Class A2 0.50000% Actual / 360 19 0.00 0.00 0.00 0.00 Class A3 0.50000% Actual / 360 19 131,953.18 131,953.18 0.00 0.00 Class B 0.10000% Actual / 360 19 36,721.31 36,721.31 0.00 0.00 Note: Following the restructure the note interest changed from a floating to a 168,674.49 168,674.49 0.00 0.00 Page 2
2. October Payment Date Information 10 Oct 18 (i) Available Revenue Funds (iii) Available Principal Funds (vi) Prepayments Ledger Revenue Funds 1,174,426.84 Principal Repayments 3,548,784.33 Prepayments received 0.00 ERC's 0.00 Principal Redemptions 1,376,468.36 Payments to Permanent tsb 0.00 Release from Reserve Fund 0.00 Principal Amount of Loans Repurchased 0.00 Interest receivable on bank accounts - 12,393.68 Principal Amount of Loans Substituted 0.00 Prepayment ledger balance 0.00 PDL Credits 0.00 Total Revenue Funds 1,162,033.16 Stage Payments - 45,000.00 Note: Prepayments relate to additional payments received upon the prepayment / early redemption of fixed rate mortgages Total Principal Funds 4,880,252.69 (ii) Revenue Priority of Payments (iv) Principal Priority of Payments (vii) Trust Account Balance - Amounts due with respect to the Trustee 0.00 Amounts due with respect to Third Parties 4,000.00 Amounts due with respect to Paying Agent 0.00 A1 Note Redemption 0.00 Opening Balance 1,671,284.06 Amounts due with respect to Mortgage Manager 94,057.88 A2 Note Redemption 0.00 Closing Balance 1,049,884.76 Annual Issuer Fee 0.00 A3 Note Redemption 4,880,252.67 A1 Note Interest 0.00 B Note Redemption 0.00 A2 Note Interest 0.00 A3 Note Interest 131,953.18 Total Principal Distributed 4,880,252.67 Amounts due with respect to Reserve Fund 0.00 B Note Interest 36,721.31 PDL 0.00 (v) Transaction Account Balance - (viii) Retained Amounts - Amounts due with respect to Subordinated Loan Facility 895,300.79 Total Revenue Distributed 1,162,033.16 Opening Balance 4,948,774.25 Undrawn Amounts 29,745,102.39 Cash In 6,901,938.08 Cash Out - 6,042,285.83 Closing Balance 5,808,426.50 3. Credit Enhancement (i) Reserve Fund (ii) Reserve Fund Reduction Triggers Condition Met Limit Initial Reserve Fund 17,000,000.00 Reserve Fund >= 1.00% of PAO Y 1.00% 2.26% % of Original Note Balance 1.00% Nil Balance on PDL Y 0.00 0.00 Reserve Fund = Required Amount Y 17,000,000.00 17,000,000.00 Reserve Fund Floor (1.50%) 17,000,000.00 Reserve Fund Required Amount 17,000,000.00 Beginning Reserve Amount 17,000,000.00 (iii) Performance Triggers Additions to this period 0.00 Releases from this period 0.00 Condition Met Limit Reserve Fund Drawing this period 0.00 Conversion Test - Arrears > 90 days Y 4.00% 2.10% Ending Reserve Amount 17,000,000.00 Substitution Test - Arrears > 90 days Y 4.00% 2.10% % of Current Note Balance 2.26% Note: As a result of the breeching 4% Arrears >90days, Converted Mortgages are no longer allowed and will be substituted out of the pool Page 3
4. Collateral Performance (i) Portfolio Characteristics Last Period Issue Date Collateral Reporting Period Start Date: 01 September 2018 01 October 2018 20 October 2008 Collateral Reporting Period End Date: 30 September 2018 31 October 2018 n/a Pool Balance (inc. prefunding): 752,463,058.98 747,384,114.04 1,699,920,545.58 Number of Loans: 5,915 5,890 10,330 Last Period Since Issuance Number of Loans Balance Number of Loans Balance Number of Loans Balance Opening Balance 5,941 757,343,311.67 5,915 752,463,058.98 10,280 1,699,920,545.58 Repayments - 3,548,784.33-3,730,317.26-536,860,133.19 Redemptions 25-1,376,468.36 25-1,400,627.68 1,798-127,419,240.36 Loans Repurchased 0 0.00 2,592-386,550,961.85 Loans Substituted 0 0.00 0.00 Stage Payments 1 45,000 2 52,000 98,293,903.86 Closing Balance 5,915 752,463,058.98 5,890 747,384,114.04 5,890 747,384,114.04 ** - Redemptions information is only available from September 2009. Since we have not been reporting in this format since the start of the pool, we have no reasonable method of splitting redemptions and repayments since issuance before Sepust 2009. Note: Closing no of loans is calculated as; Opening balance - Redemptions - Loans repurchased + Loans substituted Last Period At Issuance Constant Redemption Rate (CRR %) 2.17% 2..22% Period Redemption Rate (%) 0.18% 0.19% Constant Default Rate (CDR %) 0.00% 0.00% Period Default Rate (%) 0.00% 0.00% Excess Spread (%) 0.12% 0.12% Excess Spread (Amount) 895,300.79 918,899.83 Annualised Excess Spread (%) 1.43% 1.48% Borrower's Weighted Average LTV (%) 46.93% 46.83% 56.46% % Fixed Rate 0.28% 0.26% 29.10% Weighted Average Current Seasoning (mths) 135.11 136.07 19.31 Weighted Average Remaining Term to Maturity (mths) 211.53 210.82 305.93 Weighted Average Reversion Margin (%) 0.01% 0.01% ** Minimum Interest Rate (%) 0.00% 0.00% 3.00% Maximum Interest Rate (%) 8.75% 8.75% 8.00% Weighted Average Mortgage Interest Rate (%) (a) 1.8927% 1.8893% 5.1258% Euribor (b) 0.0000% 0.0000% 4.86% Z Servicing & Cash Management Fee (c) 0.2000% 0.2000% 0.20% WA Note Margin/Coupon (d) 0.2673% 0.2658% 0.59% Reserve Fund Release (e) 0.0000% 0.0000% n/a PDL (f) 0.0000% 0.0000% n/a WA Net Margin (a-b-c-d+e-f) 1.4254% 1.4240% -0.5197% * Redemptions information is only available from September 2009 from the system. Therefore, these cannot be calcualted accurately. ** This is left blank as the system does not produce an accurate reversion rate 'since issuance', as it was not designed to report the same at the inception of the deal. Page 4
4. Collateral Performance (continued) (ii) Arrears Profile No. of Loans B/F Balance B/F % of Balance B/F No. of Loans IN Balance IN No. of Loans OUT Balance OUT No. of Redemptions Balance of Redemptions No. of Loans C/F Balance C/F % of Balance C/F Current 5,762 725,421,492.67 96.39% 7 1,131,080.29 13 1,222,601.63 25 1,400,627.68 5,731 720,341,954.99 96.38% 30-59 Days 32 4,657,658.84 0.62% 14 1,297,478.52 12 1,790,461.34 0 0.00 34 4,148,587.64 0.56% 60-89 Days 14 2,907,970.40 0.39% 7 867,279.19 8 1,379,050.43 0 0.00 13 2,388,844.07 0.32% 90-119 Days 5 724,879.42 0.10% 7 1,470,638.55 2 270,171.04 0 0.00 10 1,922,896.34 0.26% 120-149 Days 8 1,281,745.17 0.17% 1 155,929.46 4 601,753.37 0 0.00 5 835,015.56 0.11% 150-179 Days 4 497,798.46 0.07% 3 341,631.80 3 431,848.53 0 0.00 4 407,899.53 0.05% 180-359 Days 4 426,561.38 0.06% 3 431,848.53 0 0.00 0 0.00 7 860,284.10 0.12% 360+ Days 57 12,788,049.91 1.70% 0 0.00 0 0.00 0 0.00 57 12,809,406.97 1.71% In Repossession 29 3,756,902.73 0.50% 0 0.00 0 0.00 0 0.00 29 3,669,224.84 0.49% Total 5,915 752,463,058.98 100.00% 42 5,695,886 42 5,695,886 25 1,400,627.68 5,890 747,384,114.04 100.00% (iii) Moratorium Profile (iv) Moratorium Length (v) Repayment Type Change Last Period No. of Loans Balance % of Balance No. of Loans Balance % of Balance No. of Loans Balance % of Balance No. of Loans Balance % of Balance Current 17 3,023,056.69 52.19% 23 2,775,281.97 55.05% 1 to 3 months 15 1,489,101.79 29.54% P&I to IO 1 965,857.62 100.00% 30-59 Days 1 202,057.52 3.49% 0 0.00 0.00% 4 to 6 months 13 2,858,618.20 56.70% IO to P&I 0 0.00 0.00% 60-89 Days 1 717,932.92 12.39% 1 719,304.86 14.27% 7 to 9 months 0 0.00 0.00% Total 1 965,857.62 100.00% 90-119 Days 1 155,500.31 2.68% 0 0.00 0.00% 10 to 12 months 3 269,273.13 5.34% ***Note: The above table relates to product type changes in the period 120-149 Days 2 422,531.41 7.29% 1 274,271.76 5.44% 13 to 18 months 0 0.00 0.00% 150-179 Days 0 0.00 0.00% 0 0.00 0.00% 19 to 24 months 0 0.00 0.00% 180-359 Days 1 138,536.15 2.39% 1 138,800.89 2.75% Over 24 months 2 424,318.59 8.42% 360+ Days 7 1,133,149.99 19.56% 7 1,133,652.23 22.49% Total 33 5,041,311.71 100.00% In Repossession 0 0.00 0.00% 0 0.00 0.00% ***Note: Moratoriums include Capital Payment Hols Total 30 5,792,764.99 100.00% 33 5,041,311.71 100.00% ***Note: Length relates to moratorium term provided and not remaining moratorium term ***Note: Days relate to Arrears status not length of moratorium ***Note: Moratoriums include Capital Payment Hols (vi) Repossessed Properties (vii) Term Extensions Last Period Last Period Since Issuance No. of Loans Balance % of Balance No. of Loans Balance % of Balance 1-2 Months 31 4,213,175.87 9.44% 29 4,128,190.68 9.31% Brought Forward 27 27 2-3 Months 12 1,383,527.71 3.10% 14 1,445,646.75 3.26% Repossessed 0 0 48 3-4 Months 5 819,020.48 1.84% 5 815,651.13 1.84% Sold 0 0 19 4-5 Months 4 139,176.35 0.31% 3 244,705.59 0.55% Linked to repurchased loans 0 0 5-6 Months 2 315,252.28 0.71% 3 206,796.93 0.47% Carried Forward 27 27 6-12 Months 7 865,480.37 1.94% 7 861,277.34 1.94% 1-2 Years 14 1,338,323.28 3.00% 14 1,329,290.66 3.00% Balance of Sold Repossessions 0.00 0.00 1,129,918.77 2-3 Years 18 1,663,148.48 3.73% 18 1,657,634.92 3.74% Total Principal Lossess 0.00 0.00 0.00 3-4 Years 22 2,589,979.21 5.80% 22 2,580,165.23 5.82% WA Loss Severity 0.00% 0.00% 0.00% 4-5 Years 37 4,336,831.45 9.72% 37 4,316,650.12 9.73% Over 5 Years 267 26,956,225.36 60.41% 265 26,778,253.82 60.34% Principal Recoveries 0.00 0.00 1,959,000.00 Total 419 44,620,140.84 100.00% 417 44,364,263.17 100.00% Total Net Lossess as % of Original Pool Balance 0.00% 0.00% 0.00% (viii) Capitalised Interest Last Period To Date No of Loans Loan Balance Interest Capitalised No of Loans Loan Balance Interest Capitalised No of Loans Interest Capitalised Total 6 717,630.55 1,803.76 4 553,917.54 1,830.25 1735 1,326,301.06 ***Note: Capitalised Interest information is only available from September 2011 Page 5
4. Collateral Performance (continued) (ix) Mortgage Portfolio Analysis Regional Distributions At Issuance No. of Loans % of Number Balance % of Balance No. of Loans % of Number Balance % of Balance Dublin 1,056 17.93% 177,536,960.33 23.75% 1,981 19.18% 427,814,692.93 25.17% Rest of Leinster 1,930 32.77% 244,874,352.71 32.76% 3,501 33.89% 580,484,599.23 34.14% Munster 1,633 27.72% 191,343,879.68 25.60% 2,800 27.11% 418,779,028.74 24.64% Connaught 706 11.99% 75,058,176.01 10.04% 1,149 11.12% 157,409,572.42 9.26% Ulster 565 9.59% 58,570,745.31 7.85% 899 8.70% 115,432,652.26 6.79% Property Type Apartment 172 2.92% 26,394,344.65 3.53% 265 2.57% 55,116,949.81 3.24% Bungalow 1,006 17.08% 111,279,376.21 14.89% 1,704 16.50% 245,935,130.39 14.47% Detached House 2,556 43.40% 340,870,543.56 45.61% 4,373 42.32% 732,660,353.77 43.10% Semi-Detached 1,289 21.88% 158,236,083.46 21.17% 2,357 22.82% 385,744,400.85 22.69% Terraced 654 11.10% 79,506,314.19 10.64% 1,199 11.61% 193,084,603.54 11.36% Other 213 3.62% 31,097,451.97 4.16% 432 4.18% 87,379,107.22 5.14% Repayment Type Principal and Interest 5,719 97.10% 672,006,363.69 89.91% 9,887 95.71% 1,527,225,909.02 89.84% Interest Only (Non Endowment) 171 2.90% 75,352,291.43 10.08% 443 4.29% 172,694,636.56 10.16% Endowment Interest Only Loan Purpose Purchase 3,385 57.47% 419,700,963.27 56.16% 6,089 58.94% 921,617,054.72 54.22% Refinance 2,505 42.53% 327,683,150.77 43.84% 4,241 41.06% 778,303,490.86 45.78% Occupancy Status Home Loan 5,890 100.00% 747,384,114.04 100.00% 10,330 100.00% 1,699,920,545.58 100.00% Residential Investment Property 0 0.00% 0.00 0.00% 0 0.00% 0.00 0.00% Page 6
4. Collateral Performance (continued) (ix) Mortgage Portfolio Analysis (continued) At Issuance No. of Loans % of Number Balance % of Balance No. of Loans % of Number Balance % of Balance Current LTV Ratio Up to 10% 639 10.85% 13,482,888.00 1.81% 356 3.45% 12,408,923.08 0.73% Over 10% - 20% 789 13.40% 45,754,849.41 6.12% 1,046 10.13% 62,822,641.47 3.70% Over 20% - 30% 943 16.01% 92,688,190.27 12.40% 1,267 12.27% 128,040,779.10 7.53% Over 30% - 40% 1,022 17.35% 133,232,891.93 17.83% 1,342 12.99% 177,987,797.16 10.47% Over 40% - 50% 959 16.28% 147,503,511.97 19.74% 1,384 13.40% 229,643,854.37 13.51% Over 50% - 60% 876 14.87% 155,772,697.54 20.84% 1,413 13.66% 284,749,762.14 16.75% Over 60% - 70% 491 8.34% 100,407,373.93 13.43% 1,286 12.45% 281,208,822.96 16.54% Over 70% - 80% 98 1.66% 34,926,879.56 4.67% 1,323 12.81% 322,210,300.63 18.95% Over 80% - 90% 29 0.49% 9,342,883.72 1.25% 913 8.84% 200,847,664.67 11.82% Over 90% - 95% 8 0.14% 1,842,935.87 0.25% 0 0.00% 0.00 0.00% Greater than 95% 36 0.61% 12,429,011.84 1.66% 0 0.00% 0.00 0.00% Loan Seasoning in Months 0-12 0 0.00% 0.00 0.00% 5,115 49.52% 1,011,856,718.18 59.52% 13-18 0 0.00% 0.00 0.00% 803 7.77% 149,039,602.80 8.77% 19-24 0 0.00% 0.00 0.00% 498 4.82% 80,103,988.78 4.71% 25-30 0 0.00% 0.00 0.00% 526 5.09% 79,951,242.59 4.70% 31-36 0 0.00% 0.00 0.00% 282 2.73% 44,322,164.89 2.61% 37-42 0 0.00% 0.00 0.00% 234 2.27% 32,628,988.18 1.92% 43-48 0 0.00% 0.00 0.00% 1,349 13.06% 168,271,100.76 9.90% 49-54 0 0.00% 0.00 0.00% 278 2.69% 35,483,794.95 2.09% 55+ 5,890 100.00% 747,384,114.04 100.00% 1,245 12.05% 98,262,944.45 5.78% Mortgage Size at Origination 0 to 50,000.00 181 3.07% 3,132,877.71 0.42% 623 6.03% 19,697,114.62 1.16% 50,000.01 to 100,000.00 779 13.23% 27,821,816.93 3.72% 1,658 16.05% 105,277,079.64 6.19% 100,000.01 to 200,000.00 2,639 44.80% 244,865,502.78 32.76% 4,254 41.17% 560,537,506.83 32.97% 200,000.01 to 300,000.00 1,649 28.00% 269,768,715.78 36.10% 2,655 25.70% 565,517,519.41 33.27% 300,000.01 to 400,000.00 411 6.98% 94,807,168.08 12.69% 709 6.86% 213,420,518.39 12.55% 400,000.01 to 500,000.00 121 2.05% 36,776,229.73 4.92% 223 2.16% 87,498,929.50 5.15% 500,000.01 to 600,000.00 38 0.65% 15,216,144.06 2.04% 76 0.74% 35,118,504.70 2.07% 600,000.01 to 700,000.00 21 0.36% 9,322,269.49 1.25% 39 0.38% 21,933,772.72 1.29% 700,000.01 to 800,000.00 17 0.29% 10,204,041.54 1.37% 33 0.32% 20,917,526.32 1.23% 800,000.01 to 900,000.00 9 0.15% 4,738,844.73 0.63% 14 0.14% 10,267,312.24 0.60% 900,000.01 + 25 0.42% 30,730,503.21 4.10% 46 0.45% 59,734,761.21 3.51% Page 7
4. Collateral Performance (continued) (ix) Mortgage Portfolio Analysis (continued) At Issuance No. of Loans % of Number Balance % of Balance No. of Loans % of Number Balance % of Balance Borrower Status Self Employed 1,085 18.42% 159,131,813.80 21.29% 1,987 19.24% 375,556,462.79 22.09% PAYE/Director 4,796 81.43% 587,642,613.35 78.63% 8,197 79.35% 1,316,355,355.96 77.44% Not Employed 9 0.15% 609,686.89 0.08% 146 1.41% 8,008,726.83 0.47% Primary Borrower Profile at Origination Self Certification 1 0.02% 198,291.95 0.03% 3 0.03% 1,096,091.02 0.06% CCJs/Previous Bankruptcy 1 0.02% 129,117.79 0.02% 0 0.00% 0.00 0.00% Current Rate Type Original Rate Type Interest Payment Type No. of Loans % of Number Balance % of Balance WA Interest Rate No. of Loans % of Number Balance % of Balance WA Interest Rate Fixed 27 0.46% 1,962,628.51 0.26% 4.41% 3,128 30.28% 494,614,957.97 29.10% 5.05% ECB Tracker 4,470 75.89% 633,308,279.45 84.74% 1.48% 5,300 51.31% 1,040,139,379.84 61.18% 5.04% SVR 1,393 23.65% 112,113,206.08 15.00% 4.19% 1,902 18.41% 165,166,207.77 9.72% 5.89% Page 8
5. November Payment Date Information 12 Nov 18 (i) Available Revenue Funds (iv) Available Principal Funds Revenue Funds 1,202,941.34 Principal Repayments 3,730,317.26 ERC's 0.00 Principal Redemptions 1,400,627.68 Release from Reserve Fund 0.00 Principal Amount of Loans Repurchased 0.00 Interest receivable on bank accounts - 7,313.34 Principal Amount of Loans Substituted 0.00 PDL Credits 0.00 Total Revenue Funds 1,195,628.00 Stage Payments - 52,000.00 (ii) Revenue Payments Total Principal Funds 5,078,944.94 (v) Principal Payment Amounts due with respect to the Trustee 0.00 Amounts due with respect to Third Parties 0.00 Class Opening Balance Available Funds Principal Payment Closing Balance Pool Factor PDL Balance Amounts due with respect to Paying Agent 0.00 Amounts due with respect to Mortgage Manager 93,423.01 A1 Note 0.00 0.00 0.00 0.00 0.00000000 0.00 Annual Issuer Fee 0.00 A2 Note 0.00 0.00 0.00 0.00 0.00000000 0.00 A1 Note Interest 0.00 A3 Note 311,807,188.88 5,078,944.94 5,079,429.40 306,727,759.48 0.77339324 0.00 A2 Note Interest 0.00 B Note 440,655,672.25 0.00 0.00 440,655,672.25 0.86403073 0.00 A3 Note Interest 142,911.72 Amounts due with respect to Reserve Fund 0.00 Total 752,462,861.13 5,078,944.94 5,079,429.40 747,383,431.73 0.43963731 0.00 B Note Interest 40,393.44 PDL 0.00 Amounts due with respect to Subordinated Loan Facility 918,899.83 (vi) Amounts Credited to Ledgers Total Revenue Distributed 1,195,628.00 (iii) Reserve Funds Reserve Ledger 0.00 Total 0.00 Reserve Fund Required Amount 17,000,000.00 Reserve Fund Current Amount 17,000,000.00 Page 9
6. Deal Participant Information Administrator Permanent tsb plc Primary Servicer Permanent tsb plc Address: 56/59 St. Stephens Green Address: 56/59 St. Stephens Green Dublin 2 Dublin 2 Ireland Ireland Rating: (S&P/Moodys) B+/Ba2 Rating: (S&P/Moodys) B+/Ba2 Web: www.permanenttsbgroup.ie Web: www.permanenttsbgroup.ie Trustee BNP Paribas Trust Corporation UK Ltd Paying Agent BNP Paribas Securities Services, Luxembourg Branch Address: 55 Moorgate Address: 33 Rue de Gasperich London Howald-Hesperange EC2R 6PA L-2085 United Kingdom Luxembourg Rating: (S&P/Moodys) A+/A2 Rating: (S&P/Moodys) A+/A2 Web: www.bnpparibas.com Web: www.securities.bnpparibas.com Lead Manager BNP Paribas, London Branch Corporate Services Provider Deutsche International Corporate Services (Ireland) Ltd Address: 10 Harewood Avenue Address: 5 Harbourmaster Place London International Financial Services Centre NW1 6AA Dublin 1 United Kingdom Ireland Rating: (S&P/Moodys) A+/A2 Rating: (S&P/Moodys) A+/A2 Web: www.bnpparibas.com Web: www.db.com Bankers BNP Paribas Securities Services Back-up Servicer Homeloan Management Ltd Address: 55 Moorgate Address: Gateway House London Skipton North Yorkshire EC2R 6PA BD23 2HL United Kingdom United Kingdom Rating: (S&P/Moodys) A+/A2 Rating: (Moodys/Fitch) Ba1/BBB- Web: www.securities.bnpparibas.com Web: www.hml.co.uk Page 10
7. Definitions (i) Constant Redemption Rate The percentage of outstanding mortgage loan principal that redeems in one year, based on the annualisation of the Period Redemption Rate, which reflects the outstanding mortgage loan principal that redeems in one month. CRR = 1 - [(Closing Pool Balance - Stage Payments) / (Closing Pool Balance - Further Advances + Redemptions)]^n* PRR = 1 - [(Closing Pool Balance - Stage Payments) / (Closing Pool Balance - Further Advances + Redemptions)] (ii) Constant Default Rate The percentage of outstanding mortgage loan principal that defaults in one year. CDR = 1 - [(1 - Repossessions In) / (Opening Pool Balance - Balance in Repossessions)]^n* PDR = 1 - [(1 - Repossessions In) / (Opening Pool Balance - Balance in Repossessions)] (iii) Excess Spread Total interest revenue remaining after the distribution of priority payments up to and including payment of the lowest rated note class principal defiency ledger amounts. Excess Spread Amount = Available Revenue Funds - Revenue Distributed Excess Spread (%) = Available Revenue Funds - Revenue Distributed / Closing Pool Balance Annualised Excess Spread (%) = (Available Revenue Funds - Revenue Distributed / Closing Pool Balance)^n* * 'n' represents number of reporting periods in a year i.e. 12 for monthly reporting and 4 for quarterly reporting (iv) Mortgage Conversion The Mortgage Manager on behalf of the Issuer may agree, subject to the conditions set out in the prospectus, to a request by a Borrower to convert his Mortgage (or, in the case of a default by a Borrower, may itself elect to convert such Borrower's Mortgage) (subject to satisfaction of the conditions outlined in the prospectus) into a Mortgage with a different type of interest rate term or repayment term (a Converted Mortgage ). A Converted Mortgage may comprise (following the conversion): (a) (b) (c) (d) (e) a Fixed Rate Mortgage; a Variable Rate Mortgage; a Tracker Mortgage; an Interest Only Mortgage; or if any type of Mortgage offered by Irish Life & Permanent other than a Mortgage which is subject to a rate of interest set by reference or a flexible repayment or current account mortgage provided, in any case the rating agencies have been notified of such action. (v) Bank Accounts The Bank Accounts represent the Trust Accounts, the Transaction Account and the Reserve Account. The Issuer s Accounts represent the Transaction Account and the Reserve Account. Each Issuer Account shall at all times be maintained with an Authorised Institution which (i) has a long term rating of at least A by Standard & Poor s, (ii) a short term rating of at least A-1 by Standard & Poor s and (iii) a short term rating of at least P1 by Moody s or (iv) whose obligations in respect of such Issuer Account are guaranteed either by an entity with a long term rating of at least A by Standard & Poor s and a short term rating of at least A-1 by Standard & Poor s and a short term rating of at least P1 by Moody s. (vi) Restructuring Note On the 21st October 2011 Fastnet 5 was restructured. The restructuring involved a change to the principal amount of the notes, the removal of the contingency and liquidity reserves, a change in the payment frequency to monthly, and a change to the note interest from a floating to a fixed basis. Additionally, as part of the restructure, there is no longer a swap and BNP Paribas Securities Services has been appointed as issuer account bank. HML Ltd were appointed as back-up servicer. The below table highilghts the restructuring of the Notes Pre Restructure Tranche Name Index Rate Margin Original Tranche Balance Cumulative Principal Distribution Closing Tranche Balance 31-Oct 11 Post Restructure Tranche Name Fixed Coupon Restructured Original Tranche Balance Restructured Closing Balance 31- Oct 11 Class A1 3M Euribor 0.40000% 510,000,000.00 231,244,327.32 278,755,672.68 Class A1 0.50000% 396,800,000.00 342,800,000.00 Class A2 3M Euribor 0.45000% 510,000,000.00 0.00 510,000,000.00 Class A2 0.50000% 396,600,000.00 342,650,000.00 Class A3 3M Euribor 0.50000% 527,000,000.00 0.00 527,000,000.00 Class A3 0.50000% 396,600,000.00 342,650,000.00 Class B 3M Euribor 2.00000% 153,000,000.00 0.00 153,000,000.00 Class B 0.10000% 510,000,000.00 440,655,672.25 1,700,000,000.00 231,244,327.32 1,468,755,672.68 1,700,000,000.00 1,468,755,672.25 Page 11