Cerberus Global NPL Fund, L.P.

Due Diligence - Overview of Work Streams 09 Data Remediation Check internal data consistency Verify consistency with source documents Source missing and additional data Assets Investment and occupational market assessment Site visits Technical/ Structural review. Environmental DD Planning Asset valuation. Improvement / value add opportunities Corporate Credit Complete review of tenants' underlying businesses Market position Viability of the business strategy is assessed Benchmarked against peers Full review of BS / P&L / cash flows COAC and Corporate Credit teams used for specialized tenants — Proprietary and Confidential | Not for Further Distribution Borrower Background Public record search Mission critical assets Other borrower relationships Liquidity Asset management skillset AML / KYC Work Out Strategy Highly dependent on borrower 31 dynamics and framework ON Learnings and relationships from the workout of portfolios are fed into underwriting assumptions for future transactions ots KD Validity of claim Cross Enforceability of security la lote nestmom Board collateralisation Guarantees Facility review Priority of payments Lease review Litigation review Servicing Strategy SPA & ancillary documentation CES oversight Business Plan Evolution - Asset by Asset / Loan by Loan / Borrower by Borrower Geography/asset type / loan type dependent Financing Collateral type and geography Loan type Granularity of the portfolio cerberus

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