11. Sharia Compliant Ijara or Istisna Lease Structure Seller Financier (Lessor) Buyer (Lessee) 1. Purchase price 2. Title and deed 3. Ijara finance Lease or Istisna Agreement 5. Rental payments 4. (Mortgage) 6. Final payment 7. Title and deed
12. UIB Sharia Board approved Tawarruq Facility structure to enable the International Finance Corporation’s participation as guarantor
13. KSA MBS I International Sukuk Company Bond Structure
14. Terms of Issue 2025 Legal Maturity First ranking residential loans on KSA properties which meet the eligibility criteria Collateral KSA MBS International Sukuk Company Issuer Residential Real Estate Backed Securities (RRBS) Transaction Bahrain Monetary Agency (BMA) Listing Originator purchase undertaking to repurchase notes and underlying contracts 36-months from date of issue Purchase Undertaking Fixed Rate (paid Quarterly) – 6.55% Coupon $18.5MM backed by a housing finance lease pool of $23.5MM Issue Size A- by Capital Intelligence, Cyprus based international rating agency Credit Rating IFC second loss guarantee for additional 10% of remaining principal balance DAAR first loss guarantee to top-up Excess Spread to 10% of original balance Excess Spread from 22% over collateralization Credit Enhancement Dar Al-Arkan Real Estate Development Company (DAAR) Standby Servicer Kingdom Installment Company (KIC) Servicer/Originator
15. Reputable International Administrators Maples Finance Jersey Administration and Accounting Bank of New York Trustee Standard Bank and Unicorn Investment Bank Arrangers International Finance Corporation (Private Sector Lending Arm of the World Bank) Credit Enhancement White & Case Saudi Arabia Local Counsel Lovells U.K. Lead Counsel Dar Al-Arkan Real Estate Development Company (DAAR) Standby Servicer Bank of New York Cash Manager and Account Bank
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