Pepper Money UK, a leading specialist mortgage lender, today announces its transition to operating as a standalone UK-regulated entity, following the receipt in December 2025 of the Financial Conduct Authority’s (FCA) approval of the change in regulatory control.

The transaction includes a new equity commitment by a fund managed by Bayview alongside private credit funds and accounts managed or advised by KKR.

Laurence Morey, Chief Executive Officer of Pepper Money UK, commented:

“We’re delighted to welcome Bayview as a new shareholder and to continue our longstanding relationship with KKR. The support of experienced institutional investors reflects confidence in our business model, governance framework and long-term strategy.

Guided by our clear and consistent strategy, we will continue to lead the specialist first charge and second mortgage markets with innovation, expertise and an unwavering focus on service.”

For more information on Pepper Money, please visit www.pepper.money

ENDS

Notes to Editors

For further details please contact Team Lewis: peppermoney@teamlewis.com

About Pepper Money UK

Pepper Money UK offers a full range of specialist residential first, buy to let and second charge mortgage products to customers whose requirements may be underserved by traditional high street banks and building societies.

A market leader in its target markets, Pepper Money UK uses financial inclusion as its guiding principle, providing affordable home loans to a wide group of customers, including those who have experienced credit problems, are self-employed, work as contractors, earn variable income or simply because their circumstances require a more considered approach.

Pepper Money UK offers its products exclusively through intermediaries.

Pepper Money UK is authorised and regulated by the Financial Conduct Authority.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Bayview

Bayview Asset Management, LLC (“Bayview”) is a global alternative investment manager headquartered in Coral Gables, Florida, specialising in mortgage and consumer credit investing, and managing approximately $39bn in AUM as of 31 December 2025. Founded in 1993, Bayview has more than 2,000 employees supporting Bayview’s credit investing platform, including over 220 professionals dedicated to sourcing, pricing, trading, and analysing credit-related investment opportunities.