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EXPERIENCE & HISTORY

Whitestar Asset Solutions, S.A. is the largest servicer operating in Portugal and the only "one stop shop" able to offer a complete and integrated asset management solution to investors and originators.

Whitestar was founded in 2007 by Lehman Brothers RE UK as a result of a strategic decision to place all of their Portuguese non-performing loan assets within a 100% solely-owned and managed servicing platform. This decision ended a joint venture with another North American entity that began in 2005. Most of Whitestar's existing management, staff, and platform were part of the initial joint venture company.

In September of 2008 Whitestar's owner Lehman Brothers filed for bankruptcy and PricewaterhouseCoopers (PwC) was appointed its Administrator. In 2009, Whitestar along with other Lehman assets were put up for sale by the Administrator in a competitive bid process. The sale process for Whitestar was cancelled once the Administrator became convinced that a distressed sale was less beneficial to the creditors than holding onto Whitestar and the loan assets over a period of time. The Administrator believed that significant value could be created given the lack of third party independent servicing available in the Portuguese market.

Today, Whitestar is the largest secured default servicing and sub-performing loan platform operating in Portugal and the only independent loan servicer whose staff is experienced in managing a total solution which includes Performing, Sub-Performing and Non-Performing Loans, Property Management, and a STC (Portuguese Securitisation Vehicle).

In 2010, a significant investment was made in both staff and infrastructure in order to position Whitestar for future growth.

In March of 2014, CarVal Investors (U.K.) acquired Whitestar from the Lehman UK bankruptcy estate and then, a year later, sold to Arrow Global (U.K.), on April 2015.

Today, Whitestar is the largest secured default servicing and sub-performing loan platform operating in Portugal and the only independent loan servicer whose staff is experienced in managing a total solution which includes Performing, Sub-Performing and Non-Performing Loans, Property Management, and a STC (Portuguese Securitisation Vehicle).

This spectrum of experience allows us to understand our client's needs.

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