Contract analysis

Section 2.1 — Origination and Underwriting Standards (a) The Receivable was originated by the Originator (Skybridge Fintech Ltd.) through its direct-to-consumer digital lending platform in the ordinary course of the Originator's business. No Receivable originated by any entity other than the Originator, or originated through any channel other than the Originator's direct-to-consumer digital lending platform (includin

Section 2.2 — Obligor Credit Quality (a) The FICO Score of the related Obligor at the time of origination of the Receivable was not less than 660. For purposes of this Section 2.2(a), the FICO Score shall be determined in accordance with the definition set forth in Part I of this Schedule (i.e., the middle score if three scores are obtained, or the lower of two scores if only two scores are obtained). A Receivable fo

Section 2.3 — Receivable Term and Balance Parameters (a) The original contractual term of the Receivable (measured from the date of origination to the scheduled final maturity date) is not less than twelve (12) months and not greater than sixty (60) months. For purposes of this Section 2.3(a), "original contractual term" means the term as set forth in the related promissory note or loan agreement at the time of origi

Section 2.4 — Payment Status and Performance (a) As of the related Purchase Date, the Receivable is not more than thirty (30) days past due. For purposes of this Section 2.4(a), delinquency shall be measured using the OCC method of calculating delinquency (i.e., a Receivable is considered delinquent when one full payment is past due, and days delinquent are measured from the due date of the earliest unpaid installmen

Section 2.5 — Geographic and Licensing Requirements (a) The Obligor's primary residence address (as reflected in the Originator's records as of the date of origination of the Receivable) is located in a Licensed State — that is, a state of the United States (or the District of Columbia) in which the Originator holds a valid and current consumer lending license, permit, or other authorization required under applicable

Section 2.6 — Interest Rate and Usury Compliance (a) The annual percentage rate (APR) of the Receivable, as disclosed to the Obligor in the related TILA disclosure statement, does not exceed the maximum rate permissible under the applicable usury laws, rate caps, or similar statutory or regulatory limitations of the state in which the Obligor resides or in which the Receivable was originated, whichever rate cap is lo

Section 2.7 — Currency (a) The Receivable is denominated and payable exclusively in United States dollars (USD). No Receivable denominated or payable in any foreign currency, cryptocurrency, digital asset, or any unit of value other than United States dollars shall constitute an Eligible Receivable.

Section 2.8 — Obligor Status (a) As of the related Purchase Date, no proceeding under any applicable bankruptcy, insolvency, receivership, conservatorship, or similar law (including, without limitation, Title 11 of the United States Code) has been commenced by or against the Obligor, and the Obligor has not been adjudicated as bankrupt or insolvent by any court of competent jurisdiction. For purposes of this Section

Section 2.9 — Modification and Hardship Exclusion (a) The Receivable has not been modified, restructured, extended, renewed, or otherwise amended from its original terms at any time prior to the related Purchase Date. For purposes of this Section 2.9(a), "modified" includes, without limitation, any change to the interest rate, payment amount, payment frequency, maturity date, principal balance, or any other material

Section 2.10 — Legal Validity and Enforceability (a) The Receivable constitutes the legal, valid, and binding obligation of the related Obligor, enforceable against such Obligor in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and similar laws affecting creditors' rights generally and subject to general principles of equity (regardless of w

Section 2.11 — Ownership and Liens (a) Immediately prior to the related Purchase Date, the Originator was the sole owner of the Receivable, free and clear of all liens, encumbrances, claims, pledges, charges, and security interests of any kind or nature (other than any lien or security interest that will be released in connection with the sale of the Receivable to the Seller and the subsequent purchase of such Receiv

Section 2.12 — Receivable Documentation (a) A complete Receivable File for the Receivable has been delivered to (or, if delivery is not yet complete, is in the process of being delivered to) the Custodian, Ironclad Trust Company, a national banking association, in accordance with the terms and conditions of the Custodial Agreement dated as of February 14, 2026, among the Seller, the Administrative Agent, and Ironclad

Section 2.13 — Loan Type (a) The Receivable is a consumer installment loan — either unsecured or lightly secured (i.e., secured by personal property of the Obligor other than real estate, with an aggregate appraised value of the collateral not exceeding 50% of the original principal balance of the Receivable) — originated through the Originator's direct-to-consumer digital lending platform in the ordinary course of t

Section 2.14 — No Prior Securitization or Pledge (a) The Receivable has not been previously included in any securitization, whole-loan sale, participation, or other structured finance transaction (other than the warehouse facility contemplated by the Agreement and the transactions described therein). No interest in the Receivable has been sold, assigned, transferred, or conveyed to any third party (other than the Sel

Section 2.15 — Tax and Regulatory (a) All required tax identification information for the Obligor (including a valid IRS Form W-9 or substitute Form W-9, as applicable) has been obtained by the Originator and is maintained in the Originator's records. The Originator has complied with all applicable IRS reporting requirements with respect to the Receivable, including, without limitation, the requirements of Section 60

Section 3.1 — Single Obligor Concentration No single Obligor (including all Receivables of such Obligor in the pool, whether arising from one or multiple loan agreements) shall have an aggregate outstanding Cut-Off Date Principal Balance in the pool exceeding One Hundred Thousand Dollars ($100,000), which represents 0.25% of the Maximum Facility Amount of $40,000,000. For purposes of this Section 3.1, the term "singl

Section 3.2 — Geographic / State Concentration No single state (based on the Obligor's primary residence address as reflected in the Originator's records at the time of origination) shall represent more than twenty percent (20%) of the aggregate Purchase Price of all Purchased Receivables outstanding under the facility at any time. For purposes of this Section 3.2, the District of Columbia shall be treated as a separ

Section 3.3 — Weighted-Average FICO The Weighted-Average FICO of all Purchased Receivables in the pool (weighted by Cut-Off Date Principal Balance) shall be not less than 700 at all times. The Weighted-Average FICO shall be calculated using the FICO Scores of the Obligors at the time of origination of the respective Receivables, as determined in accordance with the definition set forth in Part I of this Schedule. For

Section 3.4 — Weighted-Average Coupon The Weighted-Average Coupon (i.e., the weighted-average APR) of all Purchased Receivables in the pool (weighted by Cut-Off Date Principal Balance) shall be not less than 12.00% per annum at all times. The Weighted-Average Coupon shall be calculated using the APRs of the Purchased Receivables as stated in the related promissory notes or loan agreements. The maintenance of a minimu

Section 3.5 — Maximum 60-Month Receivables Purchased Receivables with an original contractual term of sixty (60) months shall not represent more than thirty percent (30%) of the aggregate Purchase Price of all Purchased Receivables outstanding under the facility at any time. At maximum facility utilization (i.e., when the aggregate Purchase Price of all Purchased Receivables equals the Maximum Facility Amount of $40,

Section 4.1 — Testing Dates The Eligibility Criteria and Concentration Limits set forth in this Schedule shall be tested as follows: (a) Eligibility Criteria. The Eligibility Criteria set forth in Part II of this Schedule shall be tested on each Cut-Off Date and each Purchase Date with respect to each Receivable proposed for purchase in the related Purchase Transaction. The Seller shall determine, based on the inform

Section 4.2 — Collateral Tape and Reporting The Seller shall deliver to the Administrative Agent and to Brindoval Analytics, Inc. (as Third-Party Verification Agent, with offices at 816 Congress Avenue, Suite 1400, Austin, TX 78701) a Collateral Tape in the form prescribed by the Administrative Agent (which form may be updated from time to time upon reasonable prior notice to the Seller) on each Purchase Date and on

Section 4.3 — Verification Agent Review Brindoval Analytics, Inc., as Third-Party Verification Agent (the "Verification Agent"), shall perform independent collateral-tape verification on each Purchase Date and periodic surveillance reviews (no less frequently than quarterly) in accordance with the terms of the Agreement and the engagement letter dated as of January 22, 2026, between the Administrative Agent and Brind

Section 4.4 — Consequences of Non-Compliance (a) Defective Receivables. If any Purchased Receivable is determined, at any time, not to have satisfied one or more of the Eligibility Criteria set forth in Part II of this Schedule as of the related Cut-Off Date or Purchase Date (whether such determination is made by the Administrative Agent, the Verification Agent, or otherwise), such Receivable shall be deemed a "Defec