Cerberus Global NPL Fund, L.P.

CES Loan Servicing Methodology Cerberus European Servicing adopts a hybrid supervisory approach to loan servicing Develop Business Plan » CES meets with servicers to provide guidance for borrower meetings >> CES sets business plan CES Identify Servicing Partners >> Identify capable servicing counterparty >> Identify capable servicing counterparty employees >> Develop "no de-minimis" servicing structure monitors progress against the business plan Proprietary and Confidential | Not for Further Distribution Execute Plan 33 e Investment Board » Servicer is tasked with execution of the approved plan CES provides guidelines to servicers and discusses the negotiation process » Advisory notes used by servicers and CES to ensure full oversight Cheat Global NPL Fund, L.P. North Continual Monitoring >> Monthly progress reporting and benchmarking of servicing activities against business plan CES remains closely involved 8with execution of the business plan cerberus

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