Blue Granite Investments No. 1 - Standard Bank - Investor Relations

Description of the RMBS StructurePriority of Payments22Pre-enforcement priority of payments• Tax• Senior fees (capped) and expenses• Interest on Class A and net swap payments• Interest on Class B through Class E• Fund the reserves to the required levels• Buy additional home loans during the revolvingperiod• Principal to the Class A (sequentially)(*)• Principal to Class B, C, D & E (sequentially)(*)• Interest on the subordinated loan• Preference share dividends• Principal on the subordinated loan• IssuerPost-enforcement priority of payments• Senior fees (capped) and expenses• Interest and principal on Class A and net swappayments (pari passu)• Interest and principal on Class B• Interest and principal on Class C• Interest and principal on Class D• Interest and principal on Class E• Interest and principal on the Subordinated Loan• Preference share dividends and redemption ofshare capital• Issuer(*) Principal redemption from principal collectionsonly. Changes to pro-rata once theenhancement levels have doubled in each Class.