⚠️ non-responsibility – This comparison is for information only and is subject to changes, revisions and updates. Without Funderbeam`s prior written consent, any content of this presentation may be copied, disseminated, published or used in any way, in whole or in part. Neither the information contained in this document nor other information that will be provided in relation to the object contained constitutes the basis of a contract. The exact terms of the commitment are agreed in a separate agreement. Unless expressly amended in this agreement, the SPV loan agreement (including, but not limited to the granting of security shares in Section 3.1) assets and other documents, instruments and agreements that are exported and/or delivered in this context remain fully in force and are ratified and confirmed. There are two types of investment structures that Funderbeam uses for syndic investments: a credit-based SPV or a nominee. Upon investment, investors will lend to an investment vehicle (the loan SPV) by registering with the loan SPV credit bonds. The SPV loan then makes the investment in the fundraising company, based on the terms agreed in the corresponding investment agreement. Loan SPV becomes the legal shareholder of the fundraising company. The SPV can also be used for securitization of credits or other receivables.

The securitization process can be defined as a transfer of credit risk related to an exposure or group of exposures. For example, when mortgage securities are issued from a pool of mortgages, a bank can share the associated loans by creating an SPV that acquires the assets by issuing bonds backed by the related mortgages. However, given the impact of SPV during the 2007 financial crisis, several courts recently ruled that VPS assets should be consolidated with the parent company. Like an SPV created for securitization purposes. The parent company creates an SPV that acquires certain assets or loans held by that company. Once acquired, these assets are bundled and sold in tranches to hedge the credit risk of different investors in order to raise funds by issuing debts in the form of bonds or other securities. A separate credit SPV is created for each fundraising company, which ends with a funding cycle via the platform. The fundraising company will have only one new shareholder, instead of all union participants becoming individual shareholders. Investors invest in the shares of the fundraising company through the Nominee (Funderbeam Nominees Ltd), which owns the shares of the company on its behalf.