LCP Proudreed PLC - Irish Stock Exchange

USE OF PROCEEDS
The gross proceeds from the issue of the Notes will be £322,000,000.
On the Closing Date, the Issuer will, subject to and in accordance with two separate Commercial
Mortgage Loan Agreements as described in the section entitled ‘‘Summary of Principal Documents – The
Commercial Mortgage Loan Agreements’’ above, apply the proceeds of the issue of the Notes to make two
separate Commercial Mortgage Loans to the Borrowers in an aggregate principal amount of £322,000,000.
On the Closing Date, each Borrower will pay an Initial Facility Fee to the Issuer which will be an amount
equal to all fees, commissions, costs and expenses properly and reasonably incurred by the Issuer on or
before the Closing Date in connection with the issue of the Notes and the negotiation, preparation and
execution of the Transaction Documents relating thereto (including those fees and commissions payable
to the Joint Lead Managers and detailed in the section entitled ‘‘Subscription and Sale’’ below and any
up-front payments due in respect of any Hedging Agreement).
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