SC Germany Leasing 2025-1: 25 September 2025

The Notes are backed by a portfolio of automotive lease receivables originated by Santander Consumer Leasing GmbH.

Eligibility criteria for inclusion of the receivable in the pool (include): was originated in the ordinary course of business of the Seller in accordance with the Credit and Collection Policy of the Seller under a Lease Contract with defined instalments which shall become due for payment on a monthly basis and is based on the applicable general terms and conditions of the business of the Seller and on the standard lease templates which are compliant with German law; is denominated and payable in euro; is a Lease Receivable in respect of which the Lease Contract under which it arises has not been terminated; is a Lease Receivable in respect of which the Lease Contract under which it arises has a minimum remaining term of one (1) month and a maximum remaining term 71 months.

As at 31 August 2025, the portfolio comprises 75,566 loans with an average current loan balance of Eur 11,894 and the largest is for Eur 182,685. The total amount of new car lease contracts stands at 70,712 and used car lease contracts 4,854. Leasing Contract type: Full Service – 10.72%, Kilometer – 89.38%. The WA seasoning is 8.71mnths. Regional concentration (by total current balances): Baden-Wuerttemberg - 11.04%, North Rhine-Westphalia – 24.12% and Bavaria – 16.54%.

EU Risk Retention: While any of the Notes remain outstanding the Seller will, in its capacity as originator, retain for the life of the transaction a material net economic interest of not less than 5% with respect to the transaction in accordance with Article 6(3)(c) of Regulation (EU) 2017/2042 of the European Parliament through an interest in randomly selected exposures.

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 Joint Lead Managers or any of their affiliates or any other party to accomplish such compliance.

STS: The Seller 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: SC Germany Leasing 2023-1, SC Germany Consumer 2025-1