PH56 Shawbrook 99

Residential Mortgage-Backed Securities (RMBS) - October 2024

Shawbrook Bank Limited has announced the successful completion of its Ealbrook Mortgage funding 2024-1 plc transaction, a £399 million securitisation of loans originated by Bluestone Mortgages Limited ('BML'). The transaction represents the second BML transaction under the Ealbrook shelf and is the tenth securitisation Shawbrook has completed to date.

The c.£45 million Class B to R Notes as well as the Residual Certificates were pre-placed, with Shawbrook retaining the £354 million Class A Notes.

The securitised pool is comprised of mostly owner-occupied loans secured against properties in England, Wales and Scotland. The transaction will support the Group's targeted growth trajectory, capital management and funding strategy.

Dylan Minto, Chief Financial Officer commented:

"We are pleased to announce the successful completion of this transaction, demonstrating our ability to  broaden our funding sources and enhance capital efficiency by leveraging the strength of our Retail Mortgage Brands' originate to distribute strategy. The transaction not only supports our funding diversification objective but also provides valuable capital relief, positioning us to further drive sustainable growth.

Ealbrook Mortgage funding 2024-1 is Shawbrook's tenth transaction. This deal attracted considerable interest from investors and adds to our track record as a solid repeat issuer into the debt capital markets. Going forward, we remain focused on executing transactions that enhance our financial resilience and support long-term value."

About Shawbrook

Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.

We have a diversified offering, with our innovative lending propositions tailored to meet specific customer needs in carefully selected markets across SME, Real Estate and Personal. Our innovative and specialist lending products range from complex structured credit facilities for growth-focused businesses to mortgages for professional landlords and property investors, as well as simple loans for consumers delivered digitally. We fuel our lending through customer deposits, which we attract by delivering a premium experience, choice and consistently great value to smart savers.

The business model we have created is unique and difficult to replicate, with our 'best of both' approach combining deep human expertise with advanced digital, tech and data capabilities. This combination not only allows us to deliver excellent customer experiences, but to do so efficiently and at scale. We are proud of our innovative and agile culture, which drives consistently high employee engagement scores and makes Shawbrook an attractive destination for the best talent.

The Group's lending activities are primarily funded by a stable retail deposit book consisting of easy access and ISA accounts, variable rate notice accounts and fixed rate fixed term accounts (mostly one - five years).

Shawbrook Bank Limited is an operating entity of Shawbrook Group plc. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the Financial Services Compensation Scheme.