Cerberus Global NPL Fund, L.P.

The NPL Process The process of acquiring portfolios of NPLs requires an infrastructure that can source, screen, finance, migrate and ultimately monetize thousands of borrowers, loans and assets across Timing and Stages Purpose # FTES Deal Targeting & Pipeline 1-12 months Pre-Sale » Internal teams identify, source and filter transactions based on geography, asset type, risk profile of underlying collateral Phase I Due Diligence Proprietary and Confidential | Not for Further Distribution 4-6 weeks Pre-Sale >> Due diligence is asset focused >> Underwriting team develop an initial business plan >> Submission Non Date Statetiple geographies af investmess und indicative bid >> Internal: 15-20 >> External: 10-30 Cerberus CNPX Fu Phase II Due Diligence Team No Date 30 8-12 Confirmatory due diligence phase >> Underwriting team. develops a detailed business plan >> Submission of a binding bid Post-Closing >> Internal: 15-35 >> External: 100-150 Process 1-12 months Post-Sale >> Migrating of the loan portfolio to external servicing partners , underwrite, >> Internal: 10-25 >> External: 100-150 Monetization 1-36+ months Post-Sale >> Borrower meetings, business plan updates, continual monitoring, asset management (depending on country) >> Internal: 10-25 >> External: 100-150 cerberus

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