AltX Credit Fund

The Fund will invest predominantly in subordinated notes issued by special purpose funding vehicles (such as mortgage warehouse trusts). These vehicles:

• Hold diversified pools of Australian real estate loans

• Are secured by registered mortgages over residential and commercial property

• Are originated and managed by AltX or its affiliates

The Fund therefore has indirect exposure to a portfolio of secured loans, while occupying a subordinated position in the capital structure.

Underlying Loan Characteristics

• Security: First ranking mortgages

• Property types: Australian residential security (comprising the substantial majority of the portfolio’s exposure) with smaller exposures to commercial security and land security

• Borrower base: Predominantly Australian borrowers

• Loan size: Focus on small to mid-sized loans (circa $2.5m) consistent with AltX’s private credit activities

• Loan LVR Residential: max individual LVR on residential security currently 85% (i.e. borrower equity 15%) where the borrower’s ability to service the loan has been tested

• Loan LVR Commercial: max individual LVR on commercial security currently 70% (i.e. borrower equity 30%) where the borrower’s ability to service the loan has been tested

• Contracted Loan Term: dependant on the specific warehouse and can range from 3 months to 30 years