Citizen Irish Auto Receivables Trust 2025: 23 October 2025

The fifth deal in the series, where the Issuer will make payments on the Notes from payments received in respect of a portfolio of loans by which new and used passenger motorised cars and light commercial vehicles are financed. Such portfolio will be purchased by the Issuer on the Closing Date.

Eligibility criteria (includes): the receivables must be denominated in and be payable in euro; the receivables must relate to the relevant Receivables Agreements consisting of consumer and non-consumer hire purchase contracts, acquisition leases, contract hire and hire drive contracts; each Receivables Agreement must only relate to one Financed Object other than Purchased Receivables, which are hire drive contracts; no rental instalment is more than 90 days overdue as at the Closing Date; each Receivables Agreement bears interest calculated at a fixed rate; the relevant Obligor in relation to each Purchased Receivable must not be the subject of a bankruptcy, examinership or insolvency proceeding; at least one instalment has been paid by the relevant Obligor.

The portfolio consists of 15,258 loans, all via a monthly payment contract, where the average loan balance is Eur17,462. Product type (by number of loans / current balance): Consumer Hire Purchase 11,506 / 67.50%, Non-Consumer Hire Purchase 3,210 / 28.02%, Contract Hire – 2.97% and other 170 / 1.51%. The WA LTV is 73.37% and the WA Loan Age of the Portfolio is 10 months.

EU Risk Retention: The Retention Holder (Arrow Credit Opportunities II Aggregator SCSp SICAV-RAIF) will undertake that, for so long as any of the Notes remain outstanding, it will hold and it will continue to retain on an ongoing basis (through its holding of the Class B Notes) a material net economic interest in the first loss tranche of not less than 5% of the nominal value of the securitised exposures.

US Risk Retention: The Seller intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: The Retention Holder (as originator for the purposes of the EU Securitisation Regulation) will, on or about the Closing Date, procure a notification to be submitted to ESMA and the Commission de Surveillance du Secteur Financier in Luxembourg (CSSF) in accordance with Article 27 of the EU Securitisation Regulation, confirming that the requirements of Articles 19 to 22 of the EU Securitisation Regulation for designation as STS securitisation have been satisfied with respect to the Notes.

Compare/contrast: Citizen Irish Auto Receivables Trust 2023, Finance Ireland Auto Receivables No.2 DAC