As 2018 draws near to it conclusion, it is important to take stock of the business over last 12
months, to reflect on milestones achieved and to look forward to the year ahead.

The year ended strongly for Bluestone Motor Finance as we announced the completion of
our fifth Asset Backed Security issuance in the Republic of Ireland with a €50 million
financing of motor loans.

We are very proud that Bluestone has now advanced in excess of €167 million to customers
– many of whom were previously unable to access motor finance – since we opened our
doors for business in Ireland in late 2014.

For those new to our business, Bluestone provides motor finance to a range of customers
who have found it difficult in recent years to access finance for a motor purchase including
first time borrowers, self-employed, returning emigrants, new immigrants or borrowers who
may have had their credit history previously impaired but who could demonstrate an ability
and willingness to meet their repayments.

In 2018, Bluestone increased its product range to meet strong demand for auto finance from
customers with existing strong track records. And although sales in the new car market are
down c. 5% year on year, Bluestone continues to grow volumes, with increased activity in
the used car segment where demand remains strong. In addition, we have grown our
network of approved motor dealer partners to over 600 nationwide and have expanded our
team in Dublin to support our growing business offering.

Looking into 2019, underlying demand remains strong but although Brexit casts a shadow
over the year ahead, a lack of clarity at present makes forecasting difficult.
In conclusion, the team at Bluestone is grateful to our customers, dealers and suppliers for
the opportunity to continue to grow the business. I would also like to thank our team who
have worked extremely hard and diligently to ensure 2018 was a success.

Happy Christmas and best wishes in 2019.

Donal Murphy