BMO 2023-C4 Mortgage Trust

Tranches, pool and monthly delinquency indicator for BMO 2023-C4 Mortgage Trust.

Data as of loan data through September 2026; ratings as held in the dataset at build

Current pool balance: $732.7M (September 2026)
Original pool balance: $785.1M
Loans at issuance: 46
Closing date: 2023-02-01
Weighted average coupon at issuance: 5.90%
Weighted average LTV at issuance: 34.6%
30+ delinquent (latest): 1.00%
Realized stress score: 62.4
Net rating change since issuance: +0.00 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$4.4M	99.44%	5.286% fixed	05610CAA2	AAA	AAA	not yet reported	Aaa	not yet reported
A-2	$163.1M	78.66%	5.458% fixed	05610CAB0	AAA	AAA	not yet reported	Aaa	not yet reported
A-3	$9.9M	77.40%	5.367% fixed	05610CAC8	AAA	AAA	not yet reported	Aaa	not yet reported
A-4	$136.0M	60.08%	4.846% fixed	05610CAD6	AAA	AAA	not yet reported	Aaa	not yet reported
A-5	$228.1M	31.02%	5.117% floating (WAC)	05610CAE4	AAA	AAA	not yet reported	Aaa	not yet reported
A-S	$75.6M	21.39%	5.346% floating (WAC)	05610CAJ3	AAA	AAA	not yet reported	Aa2	not yet reported
A-SB	$8.0M	20.38%	5.306% floating (WAC)	05610CAF1	AAA	AAA	not yet reported	Aaa	not yet reported
B	$34.3M	16.00%	5.396% floating (WAC)	05610CAK0	AA-	AA	not yet reported	not yet reported	not yet reported
C	$33.4M	11.75%	5.864% floating (WAC)	05610CAL8	A-	A-	not yet reported	not yet reported	not yet reported
D	$19.0M	9.33%	5.864% floating (WAC)	05610CAP9	BBB	BBB+	not yet reported	not yet reported	not yet reported
E-RR	$16.3M	7.25%	5.864% floating (WAC)	05610CAR5	BBB-	BBB-	not yet reported	not yet reported	not yet reported
F-RR	$7.9M	6.25%	5.864% floating (WAC)	05610CAT1	BB	BBB-	not yet reported	not yet reported	not yet reported
G-RR	$7.9M	5.25%	5.864% floating (WAC)	05610CAV6	BB-	BB	not yet reported	not yet reported	not yet reported
J-RR	$8.8M	4.13%	5.864% floating (WAC)	05610CAX2	B-	BB-	not yet reported	not yet reported	not yet reported
K-RR	$32.4M	0.00%	5.864% floating (WAC)	05610CAZ7	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
R	not yet reported	not yet reported	not yet reported	05610CBB9	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$549.6M	Interest only	0.704% floating	05610CAG9	AAA	AAA	not yet reported	Aaa	not yet reported
X-B	$143.3M	Interest only	0.385% floating	05610CAH7	AA-	AAA	not yet reported	not yet reported	not yet reported

Credit support is computed from the class stack order in the prospectus: the share of the deal's principal balance in classes junior to the class. Interest-only classes carry a notional balance and no principal support figure. Ratings are the latest held in the dataset for each class and agency; NR means the agency shows the class as not rated, WR that the rating was withdrawn, PIF that the class has been paid in full. Any other status value is shown exactly as the agency reports it. A + after a CUSIP marks a class with companion CUSIPs in the dataset.

Pool at issuance

Loans	46
Original loan balance	$785.4M
Weighted average coupon	5.90%
Weighted average LTV	34.6%
Median loan LTV	49.4%
Full-term interest only (share of balance)	72.1%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	4.6%
Five largest loans (share of balance)	19.7%
Occupancy at issuance (weighted average)	92.2%

Realized outcomes

Months reported	44
Peak 30+ delinquency	6.41% (February 2025)
Ever severe (share of original balance)	3.00%
Ever modified (share of original balance)	3.44%
Past scheduled maturity (share of original balance)	0.00%
Non-performing matured (share of original balance)	38.22%
Maximum servicer advances (share of balance)	0.07%
Median DSCR, first year	1.84
Median DSCR, latest	1.83
Realized stress score	62.4

Property types

Property type	Original balance	Share of pool
Multifamily	$173.8M	22.1%
Industrial	$153.8M	19.6%
Retail	$144.3M	18.4%
Lodging	$109.5M	13.9%
Mixed use	$81.2M	10.3%
Office	$75.5M	9.6%
Multiple property types	$20.0M	2.5%
Self storage	$19.4M	2.5%
Manufactured housing	$8.0M	1.0%

Property type is reported for 100.0% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
70 Hudson Street	Jersey City, NJ	$36.0M	4.6%	3.19%	2022
Rialto Industrial	Rialto, CA	$35.0M	4.5%	7.61%	2022
["Eagle Springs", "Danville", "Blythewood", "Menasha", "Tremonton", "Carbondale", "Marysville", "Midland"]	["Danville", "Danville", "Blythewood", "Menasha", "Tremonton", "Carbondale", "Marysville", "Midland"], ["VA", "VA", "SC", "WI", "UT", "IL", "MI", "NC"]	$28.0M	3.6%	6.33%	2022
["237 East 34th Street", "114 West 86th Street"]	["New York", "New York"], ["NY", "NY"]	$28.0M	3.6%	4.34%	2022
Weston at Copperfield	Houston, TX	$28.0M	3.6%	4.30%	2022

Delinquency and stress indicator

▬ 30+ days delinquent · ▬ Distressed (90+, foreclosure, REO, non-performing matured)

Monthly shares of the deal's reported balance, from the deal indicator series in the dataset. Months in which fewer than half of the reported loans carry a delinquency status code are not plotted.

Ratings

Classes with a CUSIP	18 of 18
Classes with a current rating in the dataset	16 of 18
Net rating change since issuance	+0.00 notches (balance-weighted)
Delinquency threshold crossed	Not crossed in the dataset
First downgrade	None recorded

Sources: SEC Form ABS-EE asset-level reports, Form 10-D distribution reports and the deal prospectus; rating histories published under SEC Rule 17g-7(b) and agency releases. Definitions are in the methods note on the market page.