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Exhibit 1
Report of Independent Accountants on Applying
Agreed-Upon Procedures
Barclays Capital Inc.
745 7th Avenue
New York, NY 10019
We (“us” or “PwC”) have performed the procedures enumerated below, which were agreed to by Barclays Capital Inc. (the “Company” as the engaging party), and Barclays Capital Real Estate Inc., Barclays Commercial Mortgage Securities LLC, Bank of Montreal, BMO Capital Markets Corp., Societe Generale Financial Corporation, SG Americas Securities, LLC, Starwood Mortgage Capital LLC, Goldman Sachs & Co. LLC, Goldman Sachs Mortgage Company, Goldman Sachs Bank USA, BSPRT CMBS Finance, LLC, Citi Real Estate Funding Inc., and Citigroup Global Markets Inc. who are collectively referred to as the “Specified Parties”, solely to assist you in performing certain procedures related to the accuracy of certain attributes and calculations within the Final Data File (defined below). The procedures were performed with respect to the BBCMS Mortgage Trust 2026-M1, Commercial Mortgage Pass-Through Certificates, Series 2026-M1 securitization (the “Transaction”). The Company (the “Responsible Party”) is responsible for the accuracy of the information contained in the Final Data File.
In an agreed-upon procedures engagement, we perform specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the intended purpose of the engagement and we report on findings based on the procedures performed. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose.
Procedures and Findings
In connection with the Transaction, the Specified Parties have requested that the procedures be performed on 37 mortgage loans (the “Mortgage Loan Assets”) secured by 46 mortgaged properties (the “Mortgaged Properties”) which represents the entire population of Mortgage Loan Assets and Mortgaged Properties (collectively the “Collateral”) as of the closing date of the Transaction.
This agreed-upon procedures engagement was not conducted for the purpose of satisfying any criteria for due diligence published by a nationally recognized statistical rating organization.
In addition, PwC should not be regarded as having in any way warranted or given any assurance as to the following items:
| · | The completeness, accuracy, appropriateness, quality or integrity of any of the information provided by the Responsible Party, or any other party for the purpose of PwC performing the procedures agreed to by the Specified Parties. The procedures performed would not necessarily reveal any material misstatement of the amounts, balances, ratios, percentages or other relationships of the information included in the data provided to us; |
| · | The conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements; |
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| · | The existence of the assets or collateral securing such assets; |
| · | The rights of any party including, the Specified Parties, the Responsible Party, or the Transaction have to the assets or collateral securing such assets or any obligations on those assets or collateral securing such assets; |
| · | The value of the Mortgaged Properties securing the Mortgage Loan Asset; and |
| · | The compliance of the originator of the assets with federal, state, and local laws and regulations. |
We have not performed any procedures with respect to the fair value of the securities being offered in the Transaction and PwC expresses no opinion on the fair value of these securities. PwC should not be regarded as having performed any procedures other than those detailed in this report.
With respect to any terms or requirements of the Transaction documents that do not appear in this report, we performed no procedures and, accordingly, the procedures we performed would not ensure that any requirements are satisfied. Further, we have performed only the following agreed-upon procedures and therefore make no representations regarding the adequacy of disclosures or whether any material facts have been omitted from the Transaction documents.
It should be understood that we make no representations as to:
| · | The interpretation of Transaction documents included in connection with our procedures; |
| · | Your compliance with Rule 15Ga-2 of the Securities Exchange Act of 1934; and |
| · | The reasonableness of any of the assumptions provided by the Company or other Specified Parties. |
These procedures should not be taken to supplant any additional inquiries or procedures that the Specified Parties would undertake in consideration of the Transaction.
For the purpose of this report:
| · | The phrase “Cut-off Date” refers to September 6, 2026 for each of the Mortgage Loan Assets in the Transaction. |
| · | The phrase “Final Data File” refers to the following Microsoft Excel (“Excel”) file provided by the Company, which includes certain attributes related to the Collateral. The Final Data File was provided on (September 9, 2026) with certain Collateral attribute calculations adjusted for the Cut-off Date: |
| o | BBCMs 2026-M1 Combined Accounting Tape 9.9.2026 v5.xlsx |
| · | The phrase “Specified Attributes” refers to the fields in the Final Data File. |
| · | The phrase “Source Document” refers to the documents (including any applicable amendments, assumptions or exhibits thereof) provided by the Company, related to the information contained in the Final Data File. |
| · | The phrase “Loan File” refers to any Source Document or collection of Source Documents provided by the Company, and used by us, in performing the procedures enumerated below. |
| · | The term “compared” refers to the comparison of one or more Specified Attributes to Source Documents, as indicated within Exhibit A. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| · | The term “recalculated” refers to a re-computation of one or more Specified Attributes using the Company provided methodology, as indicated within Exhibit B. |
| · | The phrase “in agreement” refers to the comparison or recalculation of one or more Specified Attributes which resulted in a match, or a difference that was within the Company provided tolerance level (if any), as indicated within Exhibit A. |
Source Documents included in the Loan File:
| · | The phrase “Appraisal Report” refers to a signed appraisal document or exhibit, appraisal summary and/or a restricted appraisal document. |
| · | The phrase “Cash Man agement Agreement” refers to signed or draft cash management agreement and/or deposit and control account agreement. |
| · | The phrase “Closing Statement” refers to servicing system screen prints and a borrower, title company or lender statement, a funding statement in excel, indicating the sources and uses of dispersed funds. |
| · | The phrase “EDGAR ABS XML Technical Specification Document” refers to document containing technical standards for submissions of Asset-Backed Securities (ABS) data to the U.S. Securities and Exchange Commission. |
| · | The phrase “Engineering Report” refers to a draft or final property condition assessment document or exhibit. |
| · | The phrase “Environmental Report” refers to a final phase I and phase II (if applicable) environmental document or exhibit. |
| · | The phrase “Flood Zone Determination Report” refers to the standard flood hazard determination form indicating “Yes” or “No” for the special flood hazard area. |
| · | The phrase “Ground Lease” refers to a draft or signed ground lease agreement, ground lease estoppel and/or assumptions or riders thereof. |
| · | The phrase “Guaranty Agreement” refers to a signed or draft guaranty agreement or environmental indemnity agreement. |
| · | The phrase “Insurance Certificate” refers to certificate of insurance and/or insurance risk analysis. |
| · | The phrase “Loan Agreement” refers to a signed or draft loan agreement and any amendments, slip pages or exhibits thereof, a signed or draft promissory note, purchase and assignment agreements, borrower certificate, deed of trust, recycled-SPE certificate, non-consolidation agreement, tic agreement and agreement document and/or other security agreements. |
| · | The phrase “Management Agreement” refers to signed management agreements and any amendments, assignments or assumptions thereof and/or signed franchise agreements and any amendments, assignments or assumptions thereof. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| · | The phrase “Master Lease Agreement” refers to a signed contract where a third party leases a property from the lessor and then subleases all or part of that property to subtenants. |
| · | The phrase “Prior Securitization Support” refers to Bloomberg screenprints or Trepp reports related to prior securitization. |
| · | The phrase “Promissory Note Splitter” refers to the draft or signed legal agreement that divides a single promissory note into two or more separate notes and electronic notes detail file containing information pertaining to balances for each note as provided by the Company. |
| · | The phrase “Qualified Opportunity Zone Screenshots” refers to screenshots of maps highlighting Qualified Opportunity Zones (QOZs) in the United States. |
| · | The phrase “Seismic Report” refers to a seismic assessment document or exhibit. |
| · | The phrase “Servicer Records” refers servicer reports and records and provided electronic files. |
| · | The phrase “Subordinate Debt Loan Agreement” refers to a signed mezzanine, junior or other subordinate loan agreement and promissory note. |
| · | The phrase “Title Policy” refers to a signed title policy and/or proforma title policy. |
| · | The phrase “Underwriting File” refers to the electronic underwriting file consisting of historical and underwritten cash flow statements prepared by the Company’s underwriting team, and underwritten, borrower provided rent rolls, leases and/or lease abstracts. |
The procedures performed and results thereof are described below. In performing this engagement, we received one or more preliminary data file(s) and performed certain procedures as set forth in Exhibit A and Exhibit B. The procedures identified differences, which were communicated to the Responsible Party. The Responsible Party revised one or more of the preliminary data files based on such communicated differences, where they determined it to be appropriate. We then performed these procedures on the Final Data File, and the results of those procedures are described below.
From July 14, 2026 through September 9, 2026, the Company provided us with the Source Documents related to the Collateral for which we:
| · | Compared certain Specified Attributes to the corresponding Source Documents as detailed in Exhibit A and found them to be in agreement (the “Compared Attributes”); |
| · | Recalculated certain Specified Attributes as detailed in Exhibit B and found them to be in agreement (the “Recalculated Attributes”); or |
| · | Assumed certain Specified Attributes were accurate as instructed by the Company, and neither compared nor recalculated the Specified Attributes (the “Company Provided Attributes”). |
The recalculation methodology associated with the Recalculated Attributes is listed in Exhibit B. For each procedure where a recalculation was performed, if necessary, we compared the underlying attributes to the corresponding Source Documents and found them to be in agreement. We did not perform any procedures with respect to the Specified Attributes denoted with a Source Document of
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
“None - Company Provided”, in Exhibit A.
This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to, and did not conduct an audit or an examination engagement, the objective of which would be the expression of an opinion, or a review engagement, the objective of which would be the expression of a conclusion, on the Final Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.
In performing this engagement, we are required to be independent of the Responsible Party and to meet our ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.
This report is intended solely for the information and use of the Specified Parties (including for the purpose of substantiating the Specified Parties' “due diligence defense” under the Securities Act of 1933), and is not intended to be and should not be used by anyone other than the Specified Parties.
If a party has obtained, or has access to, this report without having executed an agreement with PwC wherein such party accepts responsibility for the appropriateness of the procedures performed (such party is referred to as a “Non-Specified Party”), that Non-Specified Party cannot:
| · | Rely upon this report, and any use of this report by that Non-Specified Party is its sole responsibility and at its sole and exclusive risk; and |
| · | Acquire any rights or claims against PwC, and PwC assumes no duties or obligations to such Non-Specified Party. |
A Non-Specified Party may not disclose or distribute this report or any of the report’s contents to any other party (including but not limited to electronic distribution and/or posting to a website pursuant to Rule 17g-5 of the Securities Exchange Act of 1934).
The procedures enumerated above were performed as of the date of this report, and we disclaim any consideration of any events and circumstances occurring after the date of this report. Further, we have no obligation to update this report because of events occurring, or data or information coming to our attention, subsequent to the date of this report.
/s/ PricewaterhouseCoopers LLP
New York, NY
September 9, 2026
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
Exhibits
Exhibit A – Loan File Review Procedures
Exhibit B – Recalculation Methodology
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
Exhibit A - Loan File Review Procedures
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 1 | Loan | None - Company Provided | None |
| 2 | % of deal | Recalculation | None |
| 3 | % of Loan Balance | Recalculation | None |
| 4 | Loan/Prop. | None - Company Provided | None |
| 5 | No. of Props | Appraisal Report | None |
| 6 | Seller | None - Company Provided | None |
| 7 | Originator | Loan Agreement | None |
| 8 | AL_Originator | Loan Agreement | None |
| 9 | Property Name | None - Company Provided | None |
| 10 | Property Address(1) | Appraisal Report, Engineering Report | None |
| 11 | City | Appraisal Report | None |
| 12 | State | Appraisal Report | None |
| 13 | Zip Code | Appraisal Report | None |
| 14 | County | Appraisal Report | None |
| 15 | Property Type(2) | Appraisal Report | None |
| 16 | Property Type Code | Appraisal Report, EDGAR ABS XML Technical Specification Document | None |
| 17 | Property Subtype(2) | Appraisal Report | None |
| 18 | Total SF/Units | Underwriting File | None |
| 19 | Unit of Measure | Underwriting File | None |
| 20 | Net Rentable Square Feet Number | Underwriting File | None |
| 21 | Net Rentable Square Feet Securitization Number | Underwriting File | None |
| 22 | Units Beds Rooms Number | Underwriting File | None |
| 23 | Units Beds Rooms Securitization Number | Recalculation | None |
| 24 | Year Built | Appraisal Report, Engineering Report | None |
| 25 | Year Renovated | Appraisal Report, Engineering Report | None |
| 26 | Environmental Report Type | Environmental Report | None |
| 27 | Environmental Report Date | Environmental Report | None |
| 28 | Phase II Recommended | Environmental Report | None |
| 29 | Phase II Performed | Environmental Report | None |
| 30 | Phase II Report Date | Environmental Report | None |
| 31 | Engineering Report Date | Engineering Report | None |
| 32 | Seismic Report Date | Seismic Report | None |
| 33 | Seismic Zone | Engineering Report, Seismic Report | None |
| 34 | PML (%) | Seismic Report | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 35 | Flood Zone | Flood Zone Determination Report, Engineering Report, Insurance Certificate | None |
| 36 | Environmental Insurance | Insurance Certificate | None |
| 37 | Earthquake Insurance | Insurance Certificate | None |
| 38 | Blanket Insurance Policy (Y/N) | Insurance Certificate | None |
| 39 | Loan Purpose | Closing Statement | None |
| 40 | Appraised Value | Appraisal Report | None |
| 41 | Appraisal Value Type (As Is / As Stabilized / As Complete) | None - Company Provided | None |
| 42 | Appraised CapRate (%) | Appraisal Report | None |
| 43 | Appraisal Date | Appraisal Report | None |
| 44 | As-is Appraised Value | Appraisal Report | None |
| 45 | As-is Date of Valuation | Appraisal Report | None |
| 46 | Appraiser Designation | Appraisal Report | None |
| 47 | Appraisal FIRREA (Y/N) | Appraisal Report | None |
| 48 | Pari Passu Split (Y/N) | Loan Agreement, Promissory Note Splitter | None |
| 49 | Pari Passu Note Control (Y/N) | None - Company Provided | None |
| 50 | Original Balance Pari Passu (Non-Trust) | Recalculation | None |
| 51 | Cut-off Date Balance Pari Passu (Trust) | Recalculation | None |
| 52 | Cut-off Date Balance Pari Passu (Non-Trust) | Recalculation | None |
| 53 | Aggregate Original Balance Pari Passu (Trust+Non-Trust) | Loan Agreement, Promissory Note Splitter | None |
| 54 | Aggregate Cut-off Date Balance Pari Passu (Trust+Non-Trust) | Recalculation | None |
| 55 | Aggregate Maturity Date Balance Pari Passu (Trust+Non-Trust) | Recalculation | $1.00 |
| 56 | Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Recalculation | None |
| 57 | Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Loan Agreement | None |
| 58 | Aggregate Pari Passu Annual Debt Service | Recalculation | $0.25 |
| 59 | Addit Debt Permitted (Y/N) | Loan Agreement | None |
| 60 | Type of Addit Debt Permitted | Loan Agreement | None |
| 61 | Addit Debt Exist (Y/N) | Subordinate Debt Loan Agreement, Promissory Note Splitter, Loan Agreement | None |
| 62 | Additional Debt Type(s) | Subordinate Debt Loan Agreement, Promissory Note Splitter, Loan Agreement | None |
| 63 | Subordinate Companion Loan Original Balance ($) | Subordinate Debt Loan Agreement, Promissory Note Splitter, Loan Agreement | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 64 | Subordinate Companion Loan Cut-off Date Balance ($) | Recalculation | None |
| 65 | Subordinate Debt Balloon Balance | Recalculation | $1.00 |
| 66 | Subordinate Companion Loan Interest Rate | Subordinate Debt Loan Agreement, Promissory Note Splitter, Loan Agreement | None |
| 67 | Subordinate Debt Loan Annual Payment | Recalculation | $0.25 |
| 68 | Whole Loan Original Balance ($) | Recalculation | None |
| 69 | Whole Loan Cut-off Date Balance ($) | Recalculation | None |
| 70 | Whole Loan Maturity Date Balance ($) | Recalculation | $1.00 |
| 71 | Whole Loan Interest Rate | Recalculation | None |
| 72 | Whole Loan Monthly Debt Service ($) | Recalculation | None |
| 73 | Whole Loan Cut-off Date LTV Ratio (%) | Recalculation | None |
| 74 | Whole Loan Underwritten NCF DSCR (x) | Recalculation | None |
| 75 | Whole Loan Underwritten NOI Debt Yield (%) | Recalculation | None |
| 76 | Mezzanine Debt Original Balance($) | Subordinate Debt Loan Agreement | None |
| 77 | Mezzanine Debt Cut-off Date Balance($) | Recalculation | None |
| 78 | Mezzanine Debt Balloon Balance | Recalculation | $1.00 |
| 79 | Mezzanine Debt Interest Rate (%) | Subordinate Debt Loan Agreement | None |
| 80 | Mezzanine Monthly Debt Service | Subordinate Debt Loan Agreement | None |
| 81 | Total Original Debt Balance (Pari + B-note + Mezz) | Recalculation | None |
| 82 | Total Cut-off Date Debt Balance (Pari + B-note + Mezz) | Recalculation | None |
| 83 | Total Debt Maturity Balance (Pari + B-note + Mezz) | Recalculation | $1.00 |
| 84 | Total Debt (Mortgage + B-Note + Mezz) Annual Debt Service | Recalculation | $0.25 |
| 85 | Total Debt (Mortgage + B-Note + Mezz) Monthly Debt Service | Recalculation | None |
| 86 | Total Debt Cut-off Date LTV Ratio (%) | Recalculation | None |
| 87 | Total Debt Underwritten NCF DSCR (x) | Recalculation | None |
| 88 | Total Debt Underwritten NOI Debt Yield (%) | Recalculation | None |
| 89 | Original Balance | Loan Agreement | None |
| 90 | Original Loan/Unit | Recalculation | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 91 | Cutoff Balance | Recalculation | None |
| 92 | Cutoff Balance/Unit | Recalculation | None |
| 93 | Maturity Balance | Recalculation | $1.00 |
| 94 | Maturity Balance per Unit | Recalculation | $1.00 |
| 95 | Interest Rate (%) | Loan Agreement | None |
| 96 | Original Interest Rate Type Code | Loan Agreement, EDGAR ABS XML Technical Specification Document | None |
| 97 | Amortization Type | Loan Agreement | None |
| 98 | Payment Type Code | Loan Agreement, EDGAR ABS XML Technical Specification Document | None |
| 99 | Payment Frequency Code | Loan Agreement, EDGAR ABS XML Technical Specification Document | None |
| 100 | Accrual Type | Loan Agreement | None |
| 101 | Interest Accrual Method Code | Loan Agreement, EDGAR ABS XML Technical Specification Document | None |
| 102 | Annual Debt Service (P&I) | Recalculation | None |
| 103 | Annual Debt Service (IO) | Recalculation | $0.25 |
| 104 | Monthly Debt Service (P&I) | Loan Agreement | None |
| 105 | Monthly Debt Service (IO) | Recalculation | None |
| 106 | I/O Period | Recalculation | None |
| 107 | Rem. I/O Period | Recalculation | None |
| 108 | Term | Recalculation | None |
| 109 | Rem. Term | Recalculation | None |
| 110 | Amort. Term | Recalculation | None |
| 111 | Rem. Amort. | Recalculation | None |
| 112 | Seasoning | Recalculation | None |
| 113 | CutOff Date | None - Company Provided | None |
| 114 | Payment Date | Loan Agreement | None |
| 115 | Grace Period (Late Payment) | Loan Agreement | None |
| 116 | Grace Period (Default) | Loan Agreement | None |
| 117 | Note Date | Loan Agreement | None |
| 118 | First Payment Date | Loan Agreement | None |
| 119 | First P&I Payment Date | Loan Agreement | None |
| 120 | ARD (Y/N) | Loan Agreement | None |
| 121 | Maturity/ARD Date | Loan Agreement | None |
| 122 | Final Mat Date | Loan Agreement | None |
| 123 | ARD Step Up (%) | Loan Agreement | None |
| 124 | Post-ARD Hyper Am? (Yes/No) | Loan Agreement | None |
| 125 | Partial IO Last IO Payment | Loan Agreement | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 126 | Call Protection Description | Loan Agreement | None |
| 127 | Lockout End Date | Loan Agreement | None |
| 128 | Defeasance Allowed | Loan Agreement | None |
| 129 | Defeasance Summary | Loan Agreement | None |
| 130 | Prepayment / Defeasance Begin Date | Loan Agreement | None |
| 131 | Prepayment / Defeasance End Date | Loan Agreement | None |
| 132 | Yield Maint. Allowed | Loan Agreement | None |
| 133 | Yield Maint. Provision | Loan Agreement | None |
| 134 | Yield Maintenance Index | Loan Agreement | None |
| 135 | Yield Maintenance Discount | Loan Agreement | None |
| 136 | YM Discount Rate Compounding | Loan Agreement | None |
| 137 | YM Discount Cash Flows To | Loan Agreement | None |
| 138 | YM Treasury Compounding (Int Diff Only) | Loan Agreement | None |
| 139 | Yield Maintenance Margin | Loan Agreement | None |
| 140 | Yield Maintenance Calculation Method | Loan Agreement | None |
| 141 | Original Lockout | Loan Agreement | None |
| 142 | Prepayment Lockout/Defeasance End Date (AL) | Loan Agreement | None |
| 143 | Lockout Remaining | Loan Agreement | None |
| 144 | Defeasance Option Start Date | Loan Agreement | None |
| 145 | Remaining Defeasance Payments | Loan Agreement | None |
| 146 | Prepayment Premiums End Date | Loan Agreement | None |
| 147 | Yield Maint. End Date | Loan Agreement | None |
| 148 | Remaining Yield Maintenance Payments | Loan Agreement | None |
| 149 | Defeased Status Code | Recalculation | None |
| 150 | Open Payments | Loan Agreement | None |
| 151 | Original String | Loan Agreement | None |
| 152 | Open Period Begin Date | Loan Agreement | None |
| 153 | Partial Release Permitted (Y/N) | Loan Agreement | None |
| 154 | Partial Release Provisions | Loan Agreement | None |
| 155 | Current Occupancy | Underwriting File | None |
| 156 | Current Occupancy Date | Underwriting File | None |
| 157 | Most Recent Occupancy | Underwriting File | None |
| 158 | Most Recent Occupancy Date | Underwriting File | None |
| 159 | Second Most Recent Occupancy | Underwriting File | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 160 | Second Most Recent Occupancy Date | Underwriting File | None |
| 161 | Third Most Recent Occupancy | Underwriting File | None |
| 162 | Third Most Recent Occupancy Date | Underwriting File | None |
| 163 | Fourth Most Recent Revenues | Underwriting File | $1.00 |
| 164 | Fourth Most Recent Total Expenses | Underwriting File | $1.00 |
| 165 | Fourth Most Recent NOI | Underwriting File | $1.00 |
| 166 | Fourth Most Recent NOI Date | Underwriting File | None |
| 167 | Fourth Most Recent Description | Underwriting File | None |
| 168 | Third Most Recent Revenues | Underwriting File | $1.00 |
| 169 | Third Most Recent Total Expenses | Underwriting File | $1.00 |
| 170 | Third Most Recent NOI | Underwriting File | $1.00 |
| 171 | Third Most Recent NOI Date | Underwriting File | None |
| 172 | Third Most Recent Description | Underwriting File | None |
| 173 | Second Most Recent Revenues | Underwriting File | $1.00 |
| 174 | Second Most Recent Total Expenses | Underwriting File | $1.00 |
| 175 | Second Most Recent NOI | Underwriting File | $1.00 |
| 176 | Second Most Recent NOI Date | Underwriting File | None |
| 177 | Second Most Recent Description | Underwriting File | None |
| 178 | Most Recent Revenues | Underwriting File | $1.00 |
| 179 | Most Recent Expenses | Underwriting File | $1.00 |
| 180 | Most Recent NOI | Underwriting File | $1.00 |
| 181 | Most Recent Net Cash Flow Amount | None - Company Provided | None |
| 182 | Most Recent NOI Date | Underwriting File | None |
| 183 | Most Recent NOI Description | Underwriting File | None |
| 184 | Most Recent Financials Start Date | None - Company Provided | None |
| 185 | UW Revenues | Underwriting File | $1.00 |
| 186 | UW Total Expenses | Underwriting File | $1.00 |
| 187 | UW NOI | Underwriting File | $1.00 |
| 188 | Underwritten Replacement / FF&E Reserve ($) | Underwriting File | $1.00 |
| 189 | Underwritten TI / LC ($) | Underwriting File | $1.00 |
| 190 | UW NCF | Underwriting File | $1.00 |
| 191 | U/W Economic Occupancy | Underwriting File | None |
| 192 | Cutoff LTV (%) | Recalculation | None |
| 193 | Maturity LTV (%) | Recalculation | None |
| 194 | UW NOI DSCR | Recalculation | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 195 | UW NCF DSCR | Recalculation | None |
| 196 | Underwritten NOI Debt Yield | Recalculation | None |
| 197 | Underwritten NCF Debt Yield | Recalculation | None |
| 198 | Total Debt NOI DSCR | Recalculation | None |
| 199 | Total Debt NCF DY | Recalculation | None |
| 200 | Total Debt MAT_LTV | Recalculation | None |
| 201 | Total Debt Per Unit | Recalculation | $1.00 |
| 202 | Loan Structure Code | Loan Agreement, EDGAR ABS XML Technical Specification Document | None |
| 203 | Single Tenant(2) | Underwriting File | None |
| 204 | Largest Tenant(2) | Underwriting File | None |
| 205 | AL_Largest Tenant | Recalculation | None |
| 206 | Unit Size | Underwriting File | None |
| 207 | Largest Tenant % of NRA | Recalculation | None |
| 208 | Lease Expiration | Underwriting File | None |
| 209 | 2nd Largest Tenant | Underwriting File | None |
| 210 | AL_Second Largest Tenant | Recalculation | None |
| 211 | 2nd Largest Tenant Unit Size | Underwriting File | None |
| 212 | 2nd Largest Tenant % of NRA | Recalculation | None |
| 213 | 2nd Largest Tenant Lease Expiration | Underwriting File | None |
| 214 | 3rd Largest Tenant | Underwriting File | None |
| 215 | AL_Third Largest Tenant | Recalculation | None |
| 216 | 3rd Largest Tenant Unit Size | Underwriting File | None |
| 217 | 3rd Largest Tenant % of NRA | Recalculation | None |
| 218 | 3rd Largest Tenant Lease Expiration | Underwriting File | None |
| 219 | 4th Largest Tenant | Underwriting File | None |
| 220 | 4th Largest Tenant Unit Size | Underwriting File | None |
| 221 | 4th Largest Tenant % of NRA | Recalculation | None |
| 222 | 4th Largest Tenant Lease Expiration | Underwriting File | None |
| 223 | 5th Largest Tenant | Underwriting File | None |
| 224 | 5th Largest Tenant Unit Size | Underwriting File | None |
| 225 | 5th Largest Tenant % of NRA | Recalculation | None |
| 226 | 5th Largest Tenant Lease Expiration | Underwriting File | None |
| 227 | Master Lease (Y/N) | Loan Agreement, Master Lease Agreement | None |
| 228 | Master Lease Details | Loan Agreement, Master Lease Agreement | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 229 | Title Type | Title Policy | None |
| 230 | Lien Position Securitization Code | Loan Agreement, EDGAR ABS XML Technical Specification Document | None |
| 231 | Ground Lease Expiration | Ground Lease | None |
| 232 | Ground Lease Extension Options | Ground Lease | None |
| 233 | Ground Lease Fully Extended Expiration | Ground Lease | None |
| 234 | Annual Ground Lease Payment | Ground Lease | None |
| 235 | Annual Ground Rent Increases (Y/N) | Ground Lease | None |
| 236 | Due on Sale | Loan Agreement | None |
| 237 | Due on Encumbrance | Loan Agreement | None |
| 238 | Crossed Loan | Loan Agreement | None |
| 239 | Related Borrower | Recalculation | None |
| 240 | Borrower Name | Loan Agreement | None |
| 241 | Single Purpose Entity (Yes/No) | Loan Agreement | None |
| 242 | Recycled SPE (Yes/No) | Loan Agreement | None |
| 243 | SPE State | Loan Agreement | None |
| 244 | Non Consolidation Opinion (Yes/No) | Loan Agreement | None |
| 245 | Number of Independent Directors | Loan Agreement | None |
| 246 | TIC Borrower? (Yes/No) | Loan Agreement | None |
| 247 | Delaware LLC or LP? (Yes/No) | Loan Agreement | None |
| 248 | Delaware Statutory Trust? (Yes/No) | Loan Agreement | None |
| 249 | Tenant-in-Common | Loan Agreement | None |
| 250 | Property Located Within a Qualified Opportunity Zone (Y/N) | Appraisal Report, Loan Agreement, Qualified Opportunity Zone Screenshots | None |
| 251 | Sponsor | Loan Agreement, Guaranty Agreement | None |
| 252 | Carve-out Guarantor | Guaranty Agreement | None |
| 253 | Warm Body Guarantor (Yes/No) | Guaranty Agreement | None |
| 254 | Property Manager | Management Agreement, Loan Agreement | None |
| 255 | Hotel Franchise Flag | Management Agreement | None |
| 256 | Franchise Agreement Expiration | Management Agreement | None |
| 257 | Lockbox (Y/N) | Loan Agreement, Cash Management Agreement | None |
| 258 | Lockbox In-place | Loan Agreement, Cash Management Agreement | None |
| 259 | Lockbox Type | Loan Agreement, Cash Management Agreement | None |
| 260 | Cash Management | Loan Agreement, Cash Management Agreement | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 261 | Lockbox Trigger | Loan Agreement, Cash Management Agreement | None |
| 262 | Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N) | Loan Agreement, Cash Management Agreement | None |
| 263 | Tenant Specific Excess Cash Trap Trigger (Y/N) | Loan Agreement, Cash Management Agreement | None |
| 264 | Subservicer In Place (Y/N) | None - Company Provided | None |
| 265 | Subservicer Name | None - Company Provided | None |
| 266 | Subservicer Fee | None - Company Provided | None |
| 267 | Cash/Pmt Collection Function | None - Company Provided | None |
| 268 | Upfront CapEx Reserve | Loan Agreement, Closing Statement | $1.00 |
| 269 | Monthly Capex Reserve | Loan Agreement, Closing Statement | $1.00 |
| 270 | Capex Escrow Cash or LOC | Loan Agreement | None |
| 271 | CapEx Reserve Cap | Loan Agreement | $1.00 |
| 272 | Interest on CapEx Reserve Goes to: | Loan Agreement | None |
| 273 | Upfront Eng. Reserve | Loan Agreement, Closing Statement | $1.00 |
| 274 | Interest on Eng. Escrow Goes to: | Loan Agreement | None |
| 275 | Upfront Envir. Reserve | Loan Agreement, Closing Statement | $1.00 |
| 276 | Monthly Envir. Reserve | Loan Agreement, Closing Statement | $1.00 |
| 277 | Envir. Escrow Cash or LOC | Loan Agreement | None |
| 278 | Envir. Reserve Cap | Loan Agreement | $1.00 |
| 279 | Interest on Envir. Reserve Goes to: | Loan Agreement | None |
| 280 | Upfront TI/LC Reserve | Loan Agreement, Closing Statement | $1.00 |
| 281 | Monthly TI/LC Reserve | Loan Agreement, Closing Statement | $1.00 |
| 282 | TI/LC Reserve Cash or LOC | Loan Agreement | None |
| 283 | TI/LC Reserve Cap | Loan Agreement | $1.00 |
| 284 | Interest on TI/LC Reserve Goes to: | Loan Agreement | None |
| 285 | Upfront RE Tax Reserve | Loan Agreement, Closing Statement | $1.00 |
| 286 | Monthly RE Tax Reserve | Loan Agreement, Closing Statement | $1.00 |
| 287 | RE Tax Escrow Cash or LOC | Loan Agreement | None |
| 288 | RE Tax Reserve Cap | Loan Agreement | $1.00 |
| 289 | Interest on Tax Reserve Goes to: | Loan Agreement | None |
| 290 | Upfront Ins. Reserve | Loan Agreement, Closing Statement | $1.00 |
| 291 | Monthly Ins. Reserve | Loan Agreement, Closing Statement | $1.00 |
| 292 | Insurance Escrow Cash or LOC | Loan Agreement | None |
| 293 | Insur. Reserve Cap | Loan Agreement | $1.00 |
| 294 | Interest on Insurance Reserve Goes to: | Loan Agreement | None |
| 295 | Upfront Debt Service Reserve | Loan Agreement, Closing Statement | $1.00 |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 296 | Monthly Debt Service Reserve | Loan Agreement, Closing Statement | $1.00 |
| 297 | Debt Service Reserve Cash or LOC | Loan Agreement | None |
| 298 | Debt Service Reserve Cap | Loan Agreement | $1.00 |
| 299 | Interest on Debt Service Reserve Goes to: | Loan Agreement | None |
| 300 | Upfront Other Reserve | Loan Agreement, Closing Statement | $1.00 |
| 301 | Monthly Other Reserve | Loan Agreement, Closing Statement | $1.00 |
| 302 | Other Reserve Description | Loan Agreement | None |
| 303 | Other Reserve Cash or LOC | Loan Agreement | None |
| 304 | Other Reserve Cap | Loan Agreement | $1.00 |
| 305 | Interest on Other Reserve Goes to: | Loan Agreement | None |
| 306 | Holdback | Loan Agreement | None |
| 307 | Holdback Amt | Loan Agreement, Closing Statement | None |
| 308 | Holdback Desc. | Loan Agreement | None |
| 309 | Letter of Credit | Loan Agreement | None |
| 310 | Description of LOC | Loan Agreement | None |
| 311 | Counterparty of LOCs | Loan Agreement | None |
| 312 | Third Most Recent Hotel Occupancy | Underwriting File | None |
| 313 | Third Most Recent Hotel ADR | Underwriting File | None |
| 314 | Third Most Recent Hotel RevPAR | Underwriting File | None |
| 315 | Second Most Recent Hotel Occupancy | Underwriting File | None |
| 316 | Second Most Recent Hotel ADR | Underwriting File | None |
| 317 | Second Most Recent Hotel RevPAR | Underwriting File | None |
| 318 | Most Recent Occupancy % (Hotel Only) | Underwriting File | None |
| 319 | Most Recent ADR | Underwriting File | None |
| 320 | Most Recent RevPAR | Underwriting File | None |
| 321 | UW Occupancy % | Underwriting File | None |
| 322 | UW ADR | Underwriting File | None |
| 323 | UW RevPAR | Underwriting File | None |
| 324 | Mortgage Assumable? | Loan Agreement | None |
| 325 | Assumption Fee | Loan Agreement | None |
| 326 | Condominium Present? | Loan Agreement | None |
| 327 | Previous Securitization | Prior Securitization Support | None |
| 328 | Master Servicing Fee Rate | None - Company Provided | None |
| 329 | Primary Servicing Fee Rate | None - Company Provided | None |
| 330 | Certificate Administrator Fee | None - Company Provided | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 331 | Trustee & Paying Agent Fee | None - Company Provided | None |
| 332 | Operating Advisor Fee | None - Company Provided | None |
| 333 | ARR Fee | None - Company Provided | None |
| 334 | CREFC Fee | None - Company Provided | None |
| 335 | Servicer Fee | None - Company Provided | None |
| 336 | Admin. Fee | Recalculation | None |
| 337 | Net Mortgage Interest Rate | Recalculation | None |
| 338 | Sources: Loan Amount ($) | Closing Statement | $1.00 |
| 339 | Sources: Principal's New Cash Contribution ($) | Closing Statement | $1.00 |
| 340 | Sources: Subordinate Debt ($) | Closing Statement | $1.00 |
| 341 | Sources: Other Sources ($) | Closing Statement | $1.00 |
| 342 | Sources: Total Sources ($) | Closing Statement | $1.00 |
| 343 | Uses: Loan Payoff ($) | Closing Statement | $1.00 |
| 344 | Uses: Purchase Price ($) | Closing Statement | $1.00 |
| 345 | Uses: Closing Costs ($) | Closing Statement | $1.00 |
| 346 | Uses: Reserves ($) | Closing Statement | $1.00 |
| 347 | Uses: Principal Equity Distribution ($) | Closing Statement | $1.00 |
| 348 | Uses: Other Uses ($) | Closing Statement | $1.00 |
| 349 | Uses: Total Uses ($) | Closing Statement | $1.00 |
| 350 | Asset Subject Demand Indicator | None - Company Provided | None |
| 351 | Asset Subject Demand Status Code | None - Company Provided | None |
| 352 | Repurchase Amount | None - Company Provided | None |
| 353 | Demand Resolution Date | None - Company Provided | None |
| 354 | Repurchaser Name | None - Company Provided | None |
| 355 | Repurchase Replacement Reason Code | None - Company Provided | None |
| 356 | Realized Loss To Trust Amount | None - Company Provided | None |
| 357 | Liquidation Prepayment Code | None - Company Provided | None |
| 358 | Liquidation Prepayment Date | None - Company Provided | None |
| 359 | Prepayment Premium Yield Maintenance Received Amount | None - Company Provided | None |
| 360 | Workout Strategy Code | None - Company Provided | None |
| 361 | Most Recent Special Servicer Transfer Date | None - Company Provided | None |
| 362 | Most Recent Master Servicer Return Date | None - Company Provided | None |
| 363 | Next Interest Rate Percentage | None - Company Provided | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 364 | Next Interest Rate Change Adjustment Date | None - Company Provided | None |
| 365 | Next Payment Adjustment Date | None - Company Provided | None |
| 366 | Arm Index Rate Percentage | None - Company Provided | None |
| 367 | Asset Type Number | None - Company Provided | None |
| 368 | Group ID | None - Company Provided | None |
| 369 | Servicing Advance Method Code | None - Company Provided | None |
| 370 | Non Recoverability Indicator | None - Company Provided | None |
| 371 | Asset Added Indicator | None - Company Provided | None |
| 372 | Debt Service Coverage Securitization Code | None - Company Provided | None |
| 373 | Most Recent Debt Service Coverage Code | None - Company Provided | None |
| 374 | Property Status Code | None - Company Provided | None |
| 375 | Underwriting Indicator | None - Company Provided | None |
| 376 | Modified Indicator | None - Company Provided | None |
| 377 | Report Period Modification Indicator | None - Company Provided | None |
| 378 | Other Interest Adjustment Amount | None - Company Provided | None |
| 379 | Unscheduled Principal Collected Amount | None - Company Provided | None |
| 380 | Other Principal Adjustment Amount | None - Company Provided | None |
| 381 | Total Principal Interest Advanced Outstanding Amount | None - Company Provided | None |
| 382 | Total Taxes Insurance Advances Outstanding Amount | None - Company Provided | None |
| 383 | Other Expenses Advanced Outstanding Amount | None - Company Provided | None |
| 384 | Payment Status Loan Code | None - Company Provided | None |
| 385 | Primary Servicer Name | None - Company Provided | None |
| 386 | Last Modification Date | None - Company Provided | None |
| 387 | Modification Code | None - Company Provided | None |
| 388 | Post Modification Interest Percentage | None - Company Provided | None |
| 389 | Post Modification Payment Amount | None - Company Provided | None |
| 390 | Post Modification Maturity Date | None - Company Provided | None |
| 391 | Post Modification Amortization Period Amount | None - Company Provided | None |
| 392 | Most Recent Valuation Amount | None - Company Provided | None |
| 393 | Most Recent Valuation Date | None - Company Provided | None |
| 394 | Most Recent Valuation Source Code | None - Company Provided | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 395 | Valuation Source Securitization Code | Recalculation | None |
| 396 | Interest Only Indicator | Loan Agreement | None |
| 397 | Balloon Indicator | Loan Agreement | None |
| 398 | Prepayment Premium Indicator | Loan Agreement | None |
| 399 | Negative Amortization Indicator | None - Company Provided | None |
| 400 | Arm Index Code | None - Company Provided | None |
| 401 | First Rate Adjustment Date | None - Company Provided | None |
| 402 | First Payment Adjustment Date | None - Company Provided | None |
| 403 | ARM Margin Number | None - Company Provided | None |
| 404 | Lifetime Rate Cap Percentage | None - Company Provided | None |
| 405 | Lifetime Rate Floor Percentage | None - Company Provided | None |
| 406 | Periodic Rate Increase Limit Percentage | None - Company Provided | None |
| 407 | Periodic Rate Decrease Limit Percentage | None - Company Provided | None |
| 408 | Periodic Payment Adjustment Maximum Amount | None - Company Provided | None |
| 409 | Periodic Payment Adjustment Maximum Percent | None - Company Provided | None |
| 410 | Rate Reset Frequency Code | None - Company Provided | None |
| 411 | Payment Reset Frequency Code | None - Company Provided | None |
| 412 | Index Lookback Days Number | None - Company Provided | None |
| 413 | Maximum Negative Amortization Allowed Percentage | None - Company Provided | None |
| 414 | Maximum Negative Amortization Allowed Amount | None - Company Provided | None |
| 415 | Negative Amortization Deferred Interest Cap Amount | None - Company Provided | None |
| 416 | Deferred Interest Cumulative Amount | None - Company Provided | None |
| 417 | Deferred Interest Collected Amount | None - Company Provided | None |
| 418 | Hyper Amortizing Date | Loan Agreement | None |
| 419 | Reporting Period Beginning Date | None - Company Provided | None |
| 420 | Reporting Period End Date | None - Company Provided | None |
| 421 | Report Period Beginning Schedule Loan Balance Amount | Recalculation | $1.00 |
| 422 | Scheduled Interest Amount | Recalculation | $1.00 |
| 423 | Scheduled Principal Amount | Recalculation | $1.00 |
| 424 | Periodic Principal and Interest Payment Securitization Amount | Recalculation | $1.00 |
| 425 | Most Recent Debt Service Amount | None - Company Provided | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT A |
| Loan File Review Procedures |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 426 | Total Scheduled Principal Interest Due Amount | Recalculation | $1.00 |
| 427 | Most Recent Debt Service Coverage Net Operating Income Percentage | None - Company Provided | None |
| 428 | Most Recent Debt Service Coverage Net Cash Flow Percentage | None - Company Provided | None |
| 429 | Report Period Interest Rate Percentage | Recalculation | None |
| 430 | Report Period End Actual Balance Amount | Recalculation | $1.00 |
| 431 | Report Period End Scheduled Loan Balance Amount | Recalculation | $1.00 |
| 432 | Net Operating Income Net Cash Flow Securitization Code | None - Company Provided | None |
| 433 | Net Operating Income Net Cash Flow Code | None - Company Provided | None |
| (1) | For Mortgaged Property identified on the Final Data File with a Loan of “23”, for Specified Attribute “Property Address”, we were instructed by representatives of the Company to use the Title Policy as the Source Document. | |
| (2) | For Mortgaged Property identified on the Final Data File with a Loan of “13”, for Specified Attributes “Property Type”, “Property Subtype”, “Single Tenant” and “Largest Tenant”, we were instructed by representatives of the Company to consider them as Company Provided. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
Exhibit B - Recalculation Methodology
| # | Specified Attribute | Recalculation Methodology |
| 2 | % of deal | Quotient of (i) Cutoff Balance and (ii) aggregate Cutoff Balance for the Mortgage Loan Assets. |
| 3 | % of Loan Balance | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the quotient of (i) Cutoff Balance of each mortgaged property of the related Mortgage Loan Asset and (ii) Cutoff Balance of the related Mortgage Loan Asset. For the Mortgage Loan Assets indicated on the Final Data File as secured by one mortgaged property, the quotient of (i) Cutoff Balance and (ii) Cutoff Balance for such portfolio’s Mortgage Loan Asset. |
| 23 | Units Beds Rooms Securitization Number | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Unit Beds Rooms Securitization Number for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets Units Beds Rooms Securitization Number is set equal to Units Beds Rooms Number. |
| 50 | Original Balance Pari Passu (Non-Trust) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Original Balance Pari Passu (Non-Trust) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the difference between (i) Aggregate Original Balance Pari Passu (Trust+Non-Trust) and (ii) Original Balance. These procedures were not performed for any other Mortgage Loan Asset. |
| 51 | Cut-off Date Balance Pari Passu (Trust) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Cut-off Date Balance Pari Passu (Trust) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, Cut-off Date Balance Pari Passu (Trust) for each such Mortgage Loan Asset is set equal to Cutoff Balance. These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 52 | Cut-off Date Balance Pari Passu (Non-Trust) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Cut-off Date Balance Pari Passu (Non-Trust) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu and interest only, we set the Cut-off Date Balance Pari Passu (Non-Trust) to equal Original Balance Pari Passu (Non-Trust). For the Mortgage Loan Assets indicated on the Final Data File as pari passu, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the CutOff Date based upon the Amort. Term, Original Balance Pari Passu (Non-Trust), I/O Period, Interest Rate (%), Accrual Type, First Payment Date, Term, CutOff Date and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($). These procedures were not performed for any other Mortgage Loan Asset. |
| 54 | Aggregate Cut-off Date Balance Pari Passu (Trust+Non-Trust) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Aggregate Cut-off Date Balance Pari Passu (Trust+Non-Trust) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the sum of (i) Cut-off Date Balance Pari Passu (Trust) and (ii) Cut-off Date Balance Pari Passu (Non-Trust). These procedures were not performed for any other Mortgage Loan Asset. |
| 55 | Aggregate Maturity Date Balance Pari Passu (Trust+Non-Trust) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Aggregate Maturity Date Balance Pari Passu (Trust+Non-Trust) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu and interest only, we set the Cut-off Date Balance Pari Passu (Non-Trust) to equal Original Balance Pari Passu (Non-Trust). For the Mortgage Loan Assets indicated on the Final Data File as pari passu, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the Final Mat Date based upon the Amort. Term, Aggregate Original Balance Pari Passu (Trust+Non-Trust), I/O Period, Interest Rate (%), Accrual Type, First Payment Date, Term, Final Mat Date and Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($). These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 56 | Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the difference between (i) Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) and (ii) either the (a) Monthly Debt Service (IO) for interest-only Mortgage Loan Assets, or (b) Monthly Debt Service (P&I) for amortizing and partial interest-only Mortgage Loan Assets. These procedures were not performed for any other Mortgage Loan Asset. |
| 58 | Aggregate Pari Passu Annual Debt Service | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Aggregate Pari Passu Annual Debt Service for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the product of (i) Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) and (ii) 12. These procedures were not performed for any other Mortgage Loan Asset. |
| 64 | Subordinate Companion Loan Cut-off Date Balance ($) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Subordinate Companion Loan Cut-off Date Balance ($) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with subordinate mortgage debt, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the CutOff Date based upon the subordinate companion loan amort. term, subordinate companion loan I/O period, subordinate companion loan accrual type, subordinate companion loan first payment date, subordinate companion loan term and subordinate companion loan monthly debt service (each as set forth on or derived from the Subordinate Loan Documents), Subordinate Companion Loan Interest Rate, Subordinate Companion Loan Original Balance ($) and CutOff Date. For the Mortgage Loan Assets indicated on the Final Data file as partial interest-only with Seasoning as "0" and full term interest-only subordinate companion loans (if any), the Subordinate Companion Loan Cut-off Date Balance ($) for each such Mortgage Loan Asset is set to equal the Subordinate Companion Loan Original Balance ($). These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 65 | Subordinate Debt Balloon Balance | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Subordinate Debt Balloon Balance for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with subordinate mortgage debt, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the Final Mat Date based upon the subordinate companion loan amort. term, subordinate companion loan I/O period, subordinate companion loan accrual type, subordinate companion loan first payment date, subordinate companion loan term, subordinate companion loan maturity date and subordinate companion loan monthly debt service (each as set forth on or derived from the Subordinate Loan Documents), Subordinate Companion Loan Interest Rate and Subordinate Companion Loan Original Balance ($). For the Mortgage Loan Assets indicated on the Final Data file as full term interest-only subordinate companion loans (if any), the Subordinate Debt Balloon Balance for each such Mortgage Loan Asset is set to equal the Subordinate Companion Loan Original Balance ($). These procedures were not performed for any other Mortgage Loan Asset. |
| 67 | Subordinate Debt Loan Annual Payment | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Subordinate Debt Loan Annual Payment for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with subordinate mortgage debt, the product of (i) Subordinate Companion Loan Original Balance ($), (ii) Subordinate Companion Loan Interest Rate and (iii) 365/360. These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 68 | Whole Loan Original Balance ($) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Original Balance ($) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File either as pari passu or with subordinate mortgage debt, the sum of the (i) Original Balance, (ii) Original Balance Pari Passu (Non-Trust) and (iii) Subordinate Companion Loan Original Balance ($), if applicable. These procedures were not performed for any other Mortgage Loan Asset. |
| 69 | Whole Loan Cut-off Date Balance ($) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Cut-off Date Balance ($) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File either as pari passu or with subordinate mortgage debt, the sum of the (i) Cutoff Balance, (ii) Cut-off Date Balance Pari Passu (Non-Trust) and (iii) Subordinate Companion Loan Cut-off Date Balance ($), if applicable. These procedures were not performed for any other Mortgage Loan Asset. |
| 70 | Whole Loan Maturity Date Balance ($) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Maturity Date Balance ($) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File either as pari passu or with subordinate mortgage debt, the sum of the (i) Aggregate Maturity Date Balance Pari Passu (Trust+Non-Trust) and (ii) Subordinate Debt Balloon Balance, if applicable. These procedures were not performed for any other Mortgage Loan Asset. |
| 71 | Whole Loan Interest Rate | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Interest Rate for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with subordinate mortgage debt, the weighted average of the (i) Interest Rate (%) and (ii) Subordinate Companion Loan Interest Rate. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, set equal to Interest Rate (%). These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 72 | Whole Loan Monthly Debt Service ($) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Monthly Debt Service ($) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with subordinate mortgage debt, the sum of the (i) (a) Monthly Debt Service (IO) for full term interest-only Mortgage Loan Assets or (b) Monthly Debt Service (P&I) for amortizing and partial interest-only Mortgage Loan Assets and (ii) subordinate companion loan monthly debt service (as set forth on or derived from the Subordinate Loan Documents). For the Mortgage Loan Assets indicated on the Final Data File as pari passu, clause (i) is replaced with Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($). These procedures were not performed for any other Mortgage Loan Asset. |
| 73 | Whole Loan Cut-off Date LTV Ratio (%) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Cut-off Date LTV Ratio (%) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File either as pari passu or with subordinate mortgage debt, the quotient of (i) Whole Loan Cut-off Date Balance ($) and (ii) Appraised Value. These procedures were not performed for any other Mortgage Loan Asset. |
| 74 | Whole Loan Underwritten NCF DSCR (x) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Underwritten NCF DSCR (x) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File either as pari passu or with subordinate mortgage debt, the quotient of (i) UW NCF and (ii) the product of (a) Whole Loan Monthly Debt Service ($) and (b) 12. These procedures were not performed for any other Mortgage Loan Asset. |
| 75 | Whole Loan Underwritten NOI Debt Yield (%) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Whole Loan Underwritten NOI Debt Yield (%) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File either as pari passu or with subordinate mortgage debt, the quotient of (i) UW NOI and (ii) Whole Loan Cut-off Date Balance ($). These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 77 | Mezzanine Debt Cut-off Date Balance($) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Mezzanine Debt Cut-off Date Balance($) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the CutOff Date based upon the mezzanine debt amort. term, mezzanine debt I/O period, mezzanine debt accrual type, mezzanine debt first payment date and mezzanine debt term (each as set forth on or derived from the Mezzanine Loan Documents), Mezzanine Debt Interest Rate (%), Mezzanine Debt Original Balance($), Mezzanine Monthly Debt Service and CutOff Date. These procedures were not performed for any other Mortgage Loan Asset. |
| 78 | Mezzanine Debt Balloon Balance | For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the Final Mat Date based upon the mezzanine debt amort. term, mezzanine debt I/O period, mezzanine debt accrual type, mezzanine debt first payment date, mezzanine debt term and mezzanine debt maturity date (each as set forth on or derived from the Mezzanine Loan Documents), Mezzanine Debt Interest Rate (%), Mezzanine Debt Original Balance($) and Mezzanine Monthly Debt Service. For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Mezzanine Debt Balloon Balance for each such mortgaged property is set equal to blank. These procedures were not performed for any other Mortgage Loan Asset. |
| 81 | Total Original Debt Balance (Pari + B-note + Mezz) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Original Debt Balance (Pari + B-note + Mezz) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the sum of the (i) Mezzanine Debt Original Balance and (ii) (a) Whole Loan Original Balance ($) for those Mortgage Loan Assets that are pari passu or have subordinate mortgage debt or (b) Original Balance. These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 82 | Total Cut-off Date Debt Balance (Pari + B-note + Mezz) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Cut-off Date Debt Balance (Pari + B-note + Mezz) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the sum of (i) Mezzanine Debt Cut-off Date Balance($) and (ii) (a) Whole Loan Cut-off Date Balance ($) for those Mortgage Loan Assets that are pari passu or have subordinate mortgage debt or (b) Cutoff Balance. These procedures were not performed for any other Mortgage Loan Asset. |
| 83 | Total Debt Maturity Balance (Pari + B-note + Mezz) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt Maturity Balance (Pari + B-note + Mezz) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the sum of (i) Mezzanine Debt Balloon Balance and (ii) (a) Whole Loan Maturity Date Balance ($) for those Mortgage Loan Assets that are pari passu or have subordinate mortgage debt or (b) Maturity Balance. These procedures were not performed for any other Mortgage Loan Asset. |
| 84 | Total Debt (Mortgage + B-Note + Mezz) Annual Debt Service | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt (Mortgage + B-Note + Mezz) Annual Debt Service for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the product of (i) the Total Debt (Mortgage + B-Note + Mezz) Monthly Debt Service and (ii) 12. These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 85 | Total Debt (Mortgage + B-Note + Mezz) Monthly Debt Service | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt (Mortgage + B-Note + Mezz) Monthly Debt Service for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the sum of (i) (a) Monthly Debt Service (IO) for full term interest-only Mortgage Loan Assets or (b) Monthly Debt Service (P&I) for amortizing and partial interest-only Mortgage Loan Assets, (ii) subordinate companion loan monthly debt service (as set forth on or derived from the Subordinate Loan Documents) and (iii) Mezzanine Monthly Debt Service. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, clause (i) of this procedure was replaced with the Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($). These procedures were not performed for any other Mortgage Loan Asset. |
| 86 | Total Debt Cut-off Date LTV Ratio (%) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt Cut-off Date LTV Ratio (%) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the quotient of (i) Total Cut-off Date Debt Balance (Pari + B-note + Mezz) and (ii) Appraised Value. These procedures were not performed for any other Mortgage Loan Asset. |
| 87 | Total Debt Underwritten NCF DSCR (x) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt Underwritten NCF DSCR (x) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the quotient of (i) UW NCF and (ii) Total Debt (Mortgage + B-Note + Mezz) Annual Debt Service. These procedures were not performed for any other Mortgage Loan Asset. |
| 88 | Total Debt Underwritten NOI Debt Yield (%) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt Underwritten NOI Debt Yield (%) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the quotient of (i) UW NOI and (ii) Total Cut-off Date Debt Balance (Pari + B-note + Mezz). These procedures were not performed for any other Mortgage Loan Asset. |
| 90 | Original Loan/Unit | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Original Loan/Unit for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) Aggregate Original Balance Pari Passu (Trust+Non-Trust) and (ii) Total SF/Units. For all other Mortgage Loan Assets, the quotient of (i) Original Balance and (ii) Total SF/Units. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 91 | Cutoff Balance | For the Mortgaged Loan Assets indicated on the Final Data File as secured by more than one mortgaged property, the product of (i) the quotient of (a) Original Balance and (b) Original Balance for such portfolio’s Mortgage Loan Asset, and (ii) Cutoff Balance for such portfolio’s Mortgage Loan Asset. For all other Mortgage Loan Assets, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the CutOff Date based upon the Amort. Term, Original Balance, I/O Period, Interest Rate (%), Accrual Type, First Payment Date, Term, Cut-off Date and Monthly Debt Service (P&I). |
| 92 | Cutoff Balance/Unit | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Cutoff Balance/Unit for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) Aggregate Cut-off Date Balance Pari Passu (Trust+Non-Trust) and (ii) Total SF/Units. For all other Mortgage Loan Assets, the quotient of (i) Cutoff Balance and (ii) Total SF/Units. |
| 93 | Maturity Balance | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the product of (a) the quotient of (i) Original Balance and (ii) Original Balance for such portfolio’s Mortgage Loan Asset, and (b) Maturity Balance for such portfolio’s Mortgage Loan Asset. For all Mortgage Loan Assets, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the Final Mat Date based upon the Amort. Term, Original Balance, I/O Period, Interest Rate (%), Accrual Type, First Payment Date, Term, Final Mat Date and Monthly Debt Service (P&I). |
| 94 | Maturity Balance per Unit | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Maturity Balance per Unit for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) Aggregate Maturity Date Balance Pari Passu (Trust+Non-Trust) and (ii) Total SF/Units. For all other Mortgage Loan Assets, the quotient of (i) Maturity Balance and (ii) Total SF/Units. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 102 | Annual Debt Service (P&I) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Annual Debt Service (P&I) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with an Amortization type of "Interest Only" as set forth on the Final Data File, the Annual Debt Service (P&I) is set to equal “NAP.” For all other Mortgage Loan Assets, the product of (i) Monthly Debt Service (P&I) and (ii) 12. |
| 103 | Annual Debt Service (IO) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Annual Debt Service (IO) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with an Amortization type of "Amortizing Balloon" as set forth on the Final Data File, the Annual Debt Service (IO) is set to equal “NAP.” For all other Mortgage Loan Assets, the product of (i) Monthly Debt Service (IO) and (ii) 12. |
| 105 | Monthly Debt Service (IO) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Monthly Debt Service (IO) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with an Amortization type of "Amortizing Balloon" as set forth on the Final Data File, the Monthly Debt Service (IO) is set to equal “NAP.” For all other Mortgage Loan Assets, the quotient of (i) the product of (a) Cutoff Balance, (b) Interest Rate (%) and (c) 365/360, and (ii) 12. |
| 106 | I/O Period | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the I/O Period for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with an Amortization type of "Amortizing Balloon" as set forth on the Final Data File, the I/O Period is set to equal 0. For all other Mortgage Loan Assets, the count of the number of monthly payment dates from and inclusive of the First Payment Date to and exclusive of the (i) First P&I Payment Date or (ii) Maturity/ARD Date, as applicable. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 107 | Rem. I/O Period | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Rem. I/O Period for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with an Amortization type of "Amortizing Balloon" as set forth on the Final Data File, the Rem. I/O Period is set to equal 0. For all other Mortgage Loan Assets, the difference between (i) I/O Period and (ii) Seasoning. |
| 108 | Term | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Term for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets, the count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and inclusive of (ii) Maturity/ARD Date. |
| 109 | Rem. Term | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Term for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets, the difference between (i) Term and (ii) Seasoning. |
| 110 | Amort. Term | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Amort. Term for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with an Amortization type of "Interest Only" as set forth on the Final Data File, the Amort. Term is set to equal 0. For the Mortgage Loan Assets with an Amortization type of “Amortizing Balloon,” we recalculated the Amort. Term based on Original Balance, Monthly Debt Service (P&I) and Interest Rate (%). |
| 111 | Rem. Amort. | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Rem. Amort. for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with an Amortization type of "Interest Only" as set forth on the Final Data File, the Rem. Amort. is set to equal 0. For the Mortgage Loan Assets with an Amortization type of “Amortizing Balloon,” the difference between (i) Amort. Term and (ii) Seasoning. |
| 112 | Seasoning | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Seasoning for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets, the count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and inclusive of (ii) CutOff Date. In no event will Seasoning be less than 0. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 149 | Defeased Status Code | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Seasoning for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets, if the Yield Maint. Allowed value is "Yes", "X", otherwise "N". |
| 192 | Cutoff LTV (%) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Cutoff LTV (%) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) Aggregate Cut-off Date Balance Pari Passu (Trust+Non-Trust) and (ii) Appraised Value. For all other Mortgage Loan Assets, the quotient of (i) Cutoff Balance and (ii) Appraised Value. |
| 193 | Maturity LTV (%) | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Maturity LTV (%) for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) Aggregate Maturity Date Balance Pari Passu (Trust+Non-Trust) and (ii) Appraised Value. For all other Mortgage Loan Assets, the quotient of (i) Maturity Balance and (ii) Appraised Value. |
| 194 | UW NOI DSCR | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the UW NOI DSCR for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) UW NOI and (ii) Aggregate Pari Passu Annual Debt Service. For all other Mortgage Loan Assets, the quotient of (i) UW NOI and (ii) (a) Annual Debt Service (IO) for the Mortgage Loan Assets with an Amortization type of "Interest Only" as set forth on the Final Data File or (b) Annual Debt Service (P&I). |
| 195 | UW NCF DSCR | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the UW NCF DSCR for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) UW NCF and (ii) Aggregate Pari Passu Annual Debt Service. For all other Mortgage Loan Assets, the quotient of (i) UW NCF and (ii) (a) Annual Debt Service (IO) for the Mortgage Loan Assets with an Amortization type of "Interest Only" as set forth on the Final Data File or (b) Annual Debt Service (P&I). |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 196 | Underwritten NOI Debt Yield | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Underwritten NOI Debt Yield for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) UW NOI and (ii) Aggregate Cut-off Date Balance Pari Passu (Trust+Non-Trust). For all other Mortgage Loan Assets, the quotient of (i) UW NOI and (ii) Cutoff Balance. |
| 197 | Underwritten NCF Debt Yield | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Underwritten NCF Debt Yield for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu, the quotient of (i) UW NCF and (ii) Aggregate Cut-off Date Balance Pari Passu (Trust+Non-Trust). For all other Mortgage Loan Assets, the quotient of (i) UW NCF and (ii) Cutoff Balance. |
| 198 | Total Debt NOI DSCR | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt NOI DSCR for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the quotient of (i) UW NOI and (ii) Total Debt (Mortgage + B-Note + Mezz) Annual Debt Service. These procedures were not performed for any other Mortgage Loan Asset. |
| 199 | Total Debt NCF DY | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt NCF DY for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the quotient of (i) UW NCF and (ii) Total Cut-off Date Debt Balance (Pari + B-note + Mezz). These procedures were not performed for any other Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 200 | Total Debt MAT_LTV | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt MAT_LTV for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the quotient of (i) Total Debt Maturity Balance (Pari + Bnote + Mezz) and (ii) Appraised Value. These procedures were not performed for any other Mortgage Loan Asset. |
| 201 | Total Debt Per Unit | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Debt Per Unit for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File with mezzanine debt, the quotient of (i) Total Original Debt Balance (Pari + Bnote + Mezz) and (ii) Total SF/Units. These procedures were not performed for any other Mortgage Loan Asset. |
| 205 | AL_Largest Tenant | For each mortgaged property with Largest Tenant as "NAP" or blank, is set equal to blank. For the Mortgaged Properties, set equal to Largest Tenant. We performed no procedures to identify dark or subleased tenants. |
| 207 | Largest Tenant % of NRA | For the Mortgaged Properties with Unit Size greater than zero as set forth on the Final Data File, the quotient of (i) Unit Size and (ii) Total SF/Units. For each mortgaged property with Unit Size as "NAP" or blank, is set equal to Unit Size. |
| 210 | AL_Second Largest Tenant | For the Mortgaged Properties, set equal to 2nd Largest Tenant. For each mortgaged property with 2nd Largest Tenant as "NAP" or blank, is set equal to blank. We performed no procedures to identify dark or subleased tenants. |
| 212 | 2nd Largest Tenant % of NRA | For the Mortgaged Properties with 2nd Largest Tenant Unit Size greater than zero as set forth on the Final Data File, the quotient of (i) 2nd Largest Tenant Unit Size and (ii) Total SF/Units. For each mortgaged property with 2nd Largest Tenant Unit Size as "NAP" or blank, is set equal to 2nd Largest Tenant Unit Size. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 215 | AL_Third Largest Tenant | For the Mortgaged Properties, set equal to 3rd Largest Tenant. For each mortgaged property with 3rd Largest Tenant as "NAP" or blank, is set equal to blank. We performed no procedures to identify dark or subleased tenants. |
| 217 | 3rd Largest Tenant % of NRA | For the Mortgaged Properties with 3rd Largest Tenant Unit Size greater than zero as set forth on the Final Data File, the quotient of (i) 3rd Largest Tenant Unit Size and (ii) Total SF/Units. For each mortgaged property with 3rd Largest Tenant Unit Size as "NAP" or blank, is set equal to 3rd Largest Tenant Unit Size. |
| 221 | 4th Largest Tenant % of NRA | For the Mortgaged Properties with 4th Largest Tenant Unit Size greater than zero as set forth on the Final Data File, the quotient of (i) 4th Largest Tenant Unit Size and (ii) Total SF/Units. For each mortgaged property with 4th Largest Tenant Unit Size as "NAP" or blank, is set equal to 4th Largest Tenant Unit Size. |
| 225 | 5th Largest Tenant % of NRA | For the Mortgaged Properties with 5th Largest Tenant Unit Size greater than zero as set forth on the Final Data File, the quotient of (i) 5th Largest Tenant Unit Size and (ii) Total SF/Units. For each mortgaged property with 5th Largest Tenant Unit Size as "NAP" or blank, is set equal to 5th Largest Tenant Unit Size. |
| 239 | Related Borrower | A recalculation in which borrower relationships were identified based on shared Sponsor names. Related groups were then assigned numbers based on the descending order of aggregate Cutoff Balance of the related group (starting with Group 1), if applicable. |
| 336 | Admin. Fee | For the Mortgage Loan Assets, the sum of (i) Certificate Administrator Fee, (ii) Trustee & Paying Agent Fee, (iii) Operating Advisor Fee, (iv) ARR Fee, (v) CREFC Fee and (vi) Servicer Fee. For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Admin. Fee for each such mortgaged property is set equal to blank. |
| 337 | Net Mortgage Interest Rate | For the Mortgage Loan Assets, the difference of (i) Interest Rate (%) and (ii) Admin. Fee. For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Net Mortgage Interest Rate for each such mortgaged property is set equal to blank. |
| 395 | Valuation Source Securitization Code | Set equal to Appraiser Designation. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 421 | Report Period Beginning Schedule Loan Balance Amount | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Report Period Beginning Schedule Loan Balance Amount for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets indicated on the Final Data File as pari passu and interest only, we set the Report Period Beginning Schedule Loan Balance Amount to equal Cutoff Balance. For all other Mortgage Loan Assets, we recalculated the amortization schedule in order to determine the principal balance outstanding as of the August 2026 based upon the Amort. Term, Original Balance, I/O Period, Interest Rate (%), Accrual Type, First Payment Date, Term, Monthly Debt Service (P&I) and Payment Date in August 2026. |
| 422 | Scheduled Interest Amount | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Scheduled Interest Amount for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with (i) Seasoning equal to"0," or (ii) Rem. Amort. equal to Amort. Term, as set forth on the Final Data File, set to equal 0. For all other Mortgage Loan Assets, the product of (i) Report Period Beginning Schedule Loan Balance Amount, (ii) Interest Rate (%), (iii) number of calendar days from and inclusive of the Payment Date in September 2026 to and exclusive of the Cut-off Date (as stipulated by representatives of the Company) and (iv) a fraction equal to 1/360. |
| 423 | Scheduled Principal Amount | For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Scheduled Principal Amount for each such mortgaged property is set equal to blank. For the Mortgage Loan Assets with (i) Seasoning equal to "0," or (ii) Rem. Amort. equal to Amort. Term or (iii) Amort. Term equal to “0”, as set forth on the Final Data File, set to equal 0. For all other Mortgage Loan Assets, the sum of (i) Monthly Debt Service (P&I) and (ii) Scheduled Interest Amount. |
| 424 | Periodic Principal and Interest Payment Securitization Amount | For the Mortgage Loan Assets, the sum of (i) Scheduled Interest Amount and (ii) Scheduled Principal Amount. For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Periodic Principal and Interest Payment Securitization Amount for each such mortgaged property is set equal to blank. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |
| BBCMS 2026-M1 | EXHIBIT B |
| Recalculation Methodology |
| # | Specified Attribute | Recalculation Methodology |
| 426 | Total Scheduled Principal Interest Due Amount | For the Mortgage Loan Assets, set to equal to the sum of (i) Scheduled Interest Amount and (ii) Scheduled Principal Amount. For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Total Scheduled Principal Interest Due Amount for each such mortgaged property is set equal to blank. |
| 429 | Report Period Interest Rate Percentage | For the Mortgage Loan Assets, set equal to Interest Rate (%). For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Report Period Interest Rate Percentage for each such mortgaged property is set equal to blank. |
| 430 | Report Period End Actual Balance Amount | For the Mortgage Loan Assets, set equal to Cutoff Balance. For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Report Period End Actual Balance Amount Amount for each such mortgaged property is set equal to blank. |
| 431 | Report Period End Scheduled Loan Balance Amount | For the Mortgage Loan Assets, set equal to Cutoff Balance. For the Mortgaged Properties indicated on the Final Data File as securing part of a portfolio, the Report Period End Scheduled Loan Balance Amount for each such mortgaged property is set equal to blank. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, New York 10017 T: 646-471-3000 |