Tel: 215-564-1900

Fax: 215-564-3940

www.bdo.com  

Ten Penn Center

1801 Market Street, Suite 1200

Philadelphia, PA 19103

The Company provided BDO with:

An electronic data file labeled “2025-A1 Guideline Pool Cut – Tax Run Analysis - 09.26.25” (the “Data File”) containing information relating to the structured settlements purchase contracts (the “Settlement Contracts”), annuity purchase contracts (the “Annuity Contracts,”) and lottery purchase contracts (“Lottery Contracts”), together, (the “Receivables”) as of the close of business on dates specified by the Company (the “Cut-Off Date”);

The Company, on behalf of the Issuer, provided BDO with the following:

Access to the Company’s management information system (“WAIDE”) containing certain information with respect to the Series 2025-A1 Receivables and

Electronic files represented by the Company’s management to be copies of original settlement documents (the “Settlement Documents”) and the annuity documents (the “Annuity Documents”) containing documentation pertaining to the purchase and assignment of the Series 2025-A1 Receivables.

As instructed by the Company, we randomly selected ninety-four (94) Settlement Contracts from the Preliminary Data File. We performed the following procedures with respect to each selected structured settlement contract:

State of Residence: Compared the claimant’s state of residence set forth on the applicable Preliminary Data File to the claimant’s state of residence as indicated on the court order and either the signed and notarized purchase agreement (the “Purchase Agreement”), settlement agreement (the “Settlement Agreement”) or seller transfer report included in the Settlement Documents.

Funding Check or Wire Transfer Request: Compared the total purchase price per WAIDE to the wire transfer request(s) or check stub(s) included in the Settlement Documents.

Scheduled Payments Purchased: Compared the total payments set forth on the applicable Preliminary Data File to the total amount of scheduled payments (excluding the payments occurring before the date of determination or February 1, 2025, (the “Securitization Cut-Off Date”) as indicated in WAIDE, and compared that amount to the total amount of scheduled payments (excluding the payments occurring before the date of determination or the Securitization Cut-Off Date) as set forth in the Purchase Agreement included in the Settlement Documents. For purposes of this procedure, the Responsible Parties (as defined herein) have agreed that differences of+/- $1 or less are not considered exceptions.

Purchase Information: Compared the purchase date and the last payment due date as set forth in WAIDE to the purchase date (within 30 business days) and last payment due date (within 30 days, and in the same calendar month) as set forth in the Purchase Agreement and/or the wire transfer request included in the Settlement Documents.

Purchase Agreement Information: Compared the purchase price as set forth in WAIDE to the purchase price as indicated in the Purchase Agreement (net of payment deductions for scheduled payments occurring within 15 days of the date of determination) included in the Settlement Documents and validated that the purchase price as set forth in WAIDE is greater than or equal to the purchase price indicate in the Purchase Agreement included in the Settlement Documents.

Assignment Type - Court Order: For each Sample Settlement Contract with an assignment type indicated as court order (or labeled “G-SS”) on the applicable Preliminary Data File, observed that a court order referencing the claimant and the corresponding Sample Settlement Contract was included in the Settlement Documents. Observed that the court order references the transaction is between the Company and the claimant. Compared the state indicated in the court order to the court order state as set forth in WAIDE.

Annuity Information: Observed that the annuity information (including, but not limited to, photocopies of correspondence and excerpts of annuity policies, the Settlement Agreement, photocopy of the annuity check, a court release or affidavit) included in one of the Settlement Documents lists the claimant as an annuitant or beneficiary, and the annuity information either contains wording indicating that the payments under the annuity were guaranteed or certain.

Annuity Company Issuer: Compared the name of the annuity company issuer set forth in the Settlement Documents with the name of the annuity company issuer as set forth on the applicable Preliminary Data File.

Notice of Direction of Payment: Observed that the Settlement Documents contain a court order, notice of assignment or letter from the Company (or an affiliate of the Company) to the annuity issuer, as applicable, directing that payments to the claimant be forwarded to one of the following addresses:

PO Box 7780 4244

PO Box 822081

PO Box 83364

PO Box 116476

PO Box 101210

PO Box 809156

Lien Search: Observed that the Settlement Documents contain a consumer credit report and a UCC search that makes reference to the claimant. If the consumer credit report or a UCC search is not included in the Settlement Documents, the Company provided such document upon request.

Settlement Agreement: Observed that the Settlement Documents contains either a photocopy of a document whose title includes the word or phrase “settlement,” “agreement,” “stipulation,” “release,” “affidavit” or “court order” referencing the claimant, or a document from the annuity provider listing the claimant as a beneficiary to a defendant listed in the Settlement Agreement. If such a document is not already included in the Settlement Documents, the Company provided the document upon request.

As instructed by the Company, we randomly selected three (3) Annuity Contracts from the Data File. We performed the following procedures with respect to each selected annuity policy:

Insurance Company Acknowledgement: Observed that the Annuity Documents include an acknowledgement from the issuer insurance company and observed that the annuity policy reflects the Company (or an affiliate of the Company) as the named beneficiary.

Discount Rate: Compared the discount rates used to calculate the purchase price in WAIDE to the t-value worksheet included in the Annuity Documents. For purposes of this procedure, the Responsible Parties (as defined herein) have agreed that differences of +/ - 0.01% or less are not considered exceptions.

Notice of Assignment or Payment Address Change: Observed that the Annuity Documents included a notice of assignment or payment address change from the issuer of the policy to the Company.

Funding Check or Wire Transfer Request: Compared the total purchase price per WAIDE (inclusive of escrow and fees) to the wire transfer advice or check stub included in the Annuity Documents.

Scheduled Payments Purchased: Compared the total payments purchased as set forth on the applicable Data File (excluding the payments occurring before the date of determination or Securitization Cut-Off Date to the total amount of scheduled payments purchased as indicated in the t-value worksheet included in the Annuity Documents (inclusive of escrow and fees). For purposes of this procedure, the Responsible Parties have agreed that differences of +/ - $1 or less are not considered exceptions.

Purchase Information: Compared the purchase date, the maturity value and the last payment due date as set forth in WAIDE to the purchase date (within 30 business days), the maturity value and last payment due date (within 30 days, and in the same calendar month) as set forth in the Purchase Agreement and/or the t-value worksheet included in the Annuity Documents. For purposes of this procedure, the Responsible Parties (as defined herein) have agreed that differences of +/ - $1 or less are not considered exceptions.

Purchase Agreement Information: Compared the purchase price as set forth in WAIDE to the purchase price as indicated in the Purchase Agreement (net of payment deductions for scheduled payments occurring within 15 days of the date of determination) included in the Annuity Documents to validate that the purchase price as set forth in WAIDE was greater than or equal to the purchase price as set forth in the Purchase Agreement.

Annuity Company Issuer: Compared the name indicated as the annuity company issuer as set forth in the Annuity Documents to the annuity company issuer as set forth on the applicable Preliminary Data File.

Lien Search: Observed that the Annuity Documents contains a consumer credit report and UCC search that makes reference to the claimant. If the consumer credit report or UCC search is not included in the Annuity Documents, the Company provided such document.

Original Documentation: Observed that the Annuity Documents include copies of original documentation related to the purchase and assignment of the annuity policy.

As instructed by the Company, we randomly selected three (3) purchased Lottery Receivable Contracts from the Data File. BDO performed the following procedures with respect to each selected sample:

State of Residence: Compared the assignor’s state of residence per the GLS column of the File Review Preliminary Data File to (1) the state noted in the Sales Agreement Terms Rider or Disclosure Statement included in the Collateral File and (2) the Address field of the SSC Purchase Page in the WAIDE system.

Scheduled Payments Purchased: Compared the total payment per the CF column of the File Review Preliminary Data File to the total amount of the scheduled payments (excluding the payments occurring before the applicable Cut Off Date) as indicated in WAIDE, and agreed that amount to the total amount of scheduled payments (excluding the payments occurring before the date of determination or the Securitization Cut-Off Date) as set forth in the Sales Agreement Terms Rider or Disclosure Statement included in the Collateral File. For purposes of this procedure the Responsible Parties (as defined herein) have agreed that differences of +/- $1 or less were not considered exceptions.

Purchase and Payment Date Information: Compared the first payment due date per the SSC Payment Schedule in the WAIDE system to the first payment due date per the Sales Agreement Terms Rider or Disclosure Statement included in the Collateral File and observed the two dates were within 30 business days.

Purchase and Payment Date Information: Compared the last payment due date per the SSC Payment Schedule in the WAIDE system to the last payment due date per the Sales Agreement Terms Rider or Disclosure Statement included in the Collateral File and observed the two dates were within 30 days and in the same calendar month.

Purchase Agreement Information: Observed that the purchase price per the Purchase Price Field of the SSC Purchase page in the WAIDE system was greater than or equal to the purchase price as indicated in the Sales Agreement Terms Rider or Disclosure Statement included in the Collateral File (net of payment deductions for scheduled payments occurring within 15 days of the applicable Cut Off Date).

Assignment Type-Court Order: For each lottery receivable with an assignment type indicated as “Court Order” on the File Review Preliminary Data File, observed that a Court Order referencing the assignor and the lottery receivable was included in the Collateral File.

State Lottery Commission Issuer: Compared the name of the state lottery commission issuer per the Court Order in the Collateral File with the name of the state lottery commission issuer per the Updated Obligor column of the File Review Preliminary Data File.

Notice of Direction of Payment: Observed that the Court Order included in the Collateral File included language directing that payments to the lottery winner be forwarded to “R.C. Henderson Lottery Trust, P.O. Box 223852 Pittsburgh, PA 15251-2852.”

Lien Search: Observed that the Collateral File contained (1) a consumer credit report, and (2) a UCC lien search that makes reference to the assignor.

Lien Filing: Observed that the Collateral File included a UCC Filing identifying the assignor and the secured party was noted to be Lottery Funding, LLC.

Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization (a “rating agency”) or

Making any findings with respect to:

Whether the origination of the Receivables conformed to, or deviated from, stated underwriting or credit extension guidelines, standards, criteria, or other requirements,

Whether the originator(s) of the Receivables complied with federal, state, or local laws or regulations or

Any other factor or characteristic of the Receivables that would be material to the likelihood that the issuer of the Notes will pay interest and principal in accordance with applicable terms and conditions.