RevoCar 2025-2: 28 September 2025

As with their previous transactions, the payments of interest and principal on the Notes are from the collections on a portfolio of fixed rate auto loan receivables originated by Bank11 für Privatkunden and Handel GmbH (Bank11) with (i) consumers (Verbraucher) resident or (ii) entrepreneurs (Unternehmer) located in the Federal Republic of Germany. All are governed by German law and are denominated in Euros.

At the cut-off date (31 August 2025) the portfolio consists of 27,539 contracts, where the outstanding principal balance is Eur499,999,917.86. Vehicle Type: New – 30.50%, Used - 69.50%. The WA seasoning is 3.3 months. Regional concentration: North Rhine-Westphalia - 21.05 %, Bavaria - 16.21%, Baden-Wurttemberg - 13.29 % and Lower Saxony - 4.81%.

EU Risk Retention: The Originator will retain, on an ongoing basis, a material net economic interest of not less than 5% of the nominal value of each of the tranches sold or transferred to the investors, as set out in Article 6 paragraph 1 and paragraph 3(a) of the Regulation (EU) 2017/2402.

US Risk Retention: The issuance of the Notes was not designed to comply with the US Risk Retention Rules other than the exemption under Section 20 of the US Risk Retention Rules, and no other steps have been taken by the Issuer, the Seller, the Arranger, the Lead Manager or any of their affiliates or any other party to accomplish such compliance.

STS: The Originator intends to notify the European Securities Markets Authority that the transaction will meet the requirements of Articles 20 to 22 of the Securitisation Regulation.

Compare/contrast: RevoCar 2025-1, Silver Arrow SA Compartment 19