BMO 2023-C5 Mortgage Trust

Tranches, pool and monthly delinquency indicator for BMO 2023-C5 Mortgage Trust.

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

Current pool balance: $636.7M (September 2026)
Original pool balance: $657.6M
Loans at issuance: 34
Closing date: 2023-06-01
Weighted average coupon at issuance: 6.65%
Weighted average LTV at issuance: 41.2%
30+ delinquent (latest): 7.87%
Realized stress score: 71.3
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	$12.9M	98.00%	5.740% fixed	055988AA7	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-2	$111.1M	80.74%	6.518% floating (WAC)	055988AB5	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-4	$95.0M	65.99%	5.494% fixed	055988AC3	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-5	$217.8M	32.16%	5.765% fixed	055988AD1	AAA	AAA	AAA (sf)	not yet reported	not yet reported
A-S	$70.8M	21.16%	6.162% floating (WAC)	055988AH2	AAA	AAA	AA (sf)	not yet reported	not yet reported
A-SB	$13.9M	19.00%	5.995% fixed	055988AE9	AAA	AAA	AAA (sf)	not yet reported	not yet reported
B	$31.4M	14.13%	6.477% floating (WAC)	055988AJ8	AA-	AA-	NR	not yet reported	not yet reported
C	$24.1M	10.38%	6.627% floating (WAC)	055988AK5	A-	A-	NR	not yet reported	not yet reported
D	$12.9M	8.38%	4.000% fixed	055988AQ2	BBB	BBB+	NRprelim	not yet reported	not yet reported
E	$6.4M	7.38%	4.000% fixed	055988AS8	BBB-	BBB	NR	not yet reported	not yet reported
F-RR	$12.1M	5.50%	4.000% fixed	055988AU3	BB-	BB+	NRprelim	not yet reported	not yet reported
G-RR	$8.0M	4.25%	4.000% fixed	055988AY5	B-	BB-	NR	not yet reported	not yet reported
J-RR	$27.4M	0.00%	4.000% floating (WAC)	055988BC2	not yet reported	not yet reported	NRprelim	not yet reported	not yet reported
R	not yet reported	not yet reported	not yet reported	055988BG3	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$450.7M	Interest only	0.727% floating	055988AF6	AAA	AAA	AAA (sf)	not yet reported	not yet reported
X-B	$126.4M	Interest only	0.298% floating	055988AG4	AA-	AAA	NRprelim	not yet reported	not yet reported
X-D	$12.9M	Interest only	2.627% floating	055988AL3	BBB	BBB+	NR	not yet reported	not yet reported
X-E	$6.4M	Interest only	2.627% floating	055988AN9	BBB-	BBB	NRprelim	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	34
Original loan balance	$657.8M
Weighted average coupon	6.65%
Weighted average LTV	41.2%
Median loan LTV	55.2%
Full-term interest only (share of balance)	66.1%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	9.9%
Five largest loans (share of balance)	34.0%
Occupancy at issuance (weighted average)	89.6%

Realized outcomes

Months reported	40
Peak 30+ delinquency	14.69% (June 2025)
Ever severe (share of original balance)	10.01%
Ever modified (share of original balance)	19.21%
Past scheduled maturity (share of original balance)	0.00%
Non-performing matured (share of original balance)	57.60%
Maximum servicer advances (share of balance)	0.84%
Median DSCR, first year	1.79
Median DSCR, latest	1.87
Realized stress score	71.3

Property types

Property type	Original balance	Share of pool
Retail	$173.5M	26.4%
Office	$113.8M	17.3%
Lodging	$98.5M	15.0%
Industrial	$87.3M	13.3%
Multifamily	$77.3M	11.8%
Multiple property types	$53.0M	8.1%
Warehouse	$30.0M	4.6%
Mixed use	$15.0M	2.3%
Self storage	$9.3M	1.4%

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
Brier Creek Commons	Raleigh, NC	$65.0M	9.9%	6.91%	2023
["Orlando International Business Center", "Corporex Plaza", "Brandywine Business Center", "President's Plaza"]	["Orlando", "Tampa", "Tampa", "Tampa"], ["FL", "FL", "FL", "FL"]	$42.2M	6.4%	6.21%	2023
Hyatt Regency Indianapolis	Indianapolis, IN	$40.0M	6.1%	7.08%	2023
["Ferncrest Apartments", "Candlewood Apartments", "Renata Apartments"]	["Cincinnati", "Cincinnati", "Cincinnati"], ["OH", "OH", "OH"]	$39.0M	5.9%	6.91%	2023
Great Lakes Crossing Outlets	Auburn Hill, MI	$37.5M	5.7%	6.52%	2023

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	17 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.