Marble Point Loan Financing : MPLF - Q1 2020 Financial Statements - Unsecured Notes Compliance

MARBLE POINT LOAN FINANCING LIMITED

CERTIFICATION TO NOTEHOLDERS OF THE 7.50% SENIOR NOTE DUENOVEMBER 16, 2025 FOR THE QUARTER ENDED 31 MARCH 2020

Asset Coverage Test1

Leverage Limit Covenant3

Total Gross Borrowings

$ 114,244,080
(1,246,681)
$ 112,997,399
$ 32,600,000
347%
300%
$ 4,000,000
OutstandingIndebtedness (as at 29 February 2020)	$ 29,500,000
Gross Borrowings:
17 March 2020	4,000,000
Indebtedness	$ 33,500,000
Gross Assets (as at 29 February 2020)	$ 179,253,331
Gross Borrowings:
17 March 2020	4,000,000
Gross Assets	$ 183,253,331
Leverage Ratio	18%
Maximum Leverage Ratio	20%

Gross Assets2

Less: Total Liabilities (ex. Indebtedness)

Indebtedness

Asset Coverage Ratio

Minimum Asset Coverage Ratio

January 2020:

$

February 2020:

March 2020:

- - 4,000,000

March 2020:

This information is being provided to noteholders of the 7.50% Senior Note Due November 16, 2025 (the "Note") of Marble Point Loan Financing Limited (the "Company") as accompanying information to the Company's financial statements for the period noted herein. To the extent that the Company actually knows about any default under the Note, it will so notify the noteholders. As such, subject to any such separate notification, the Company certifies that there is no condition or event that constitutes a default or event of default under the Note during the interim period covered by the financial statements to which this report relates.

_______________________________________________________

• 1 Measured as at the end of the reporting period

• 2 "Gross Assets" as defined in the Note means all assets of the Company that would be classified as assets upon a balance sheet of the Company prepared as of such date as reported by the Company on a non-consolidated basis.

3 Measured as at the time of incurrence of each Gross Borrowing