Dowson 2025-1 Plc: 22 November 2025

This will be the eighth public securitisation from Oodle, where the Issuer will make payments on the Notes and the Residual Certificates from a portfolio comprising receivables in connection with HP Agreements originated by Oodle Financial Services Limited with borrowers, and which will be purchased by the Issuer on the Closing Date. The HP Agreements provide for equal monthly payments over the term of the agreement (with the exception of the first and last payment, which may include certain fees). The Portfolio will not include PCP Contracts.

At the cut-off date the portfolio will consist of 49,573 fully amortising HP loans, where the average loan balance is £7,062 and the largest is £49,509. All loans were granted to individuals. Product Type: HP – 100.0%. Vehicle type (by current balances): used – 99.78%, new – 0.22%. The WA seasoning is 16.85 months. Regional concentration: North West – 14.1%, the South East - 11.4%, the West Midlands – 10.4% and East of England – 9.7%.

Significant investor: Oodle will, on the Closing Date, acquire 100% of the Residual Certificates.

EU & UK Risk Retention: On the Closing Date and while any of the Notes remain outstanding, Oodle will retain a material net economic interest of not less than 5% in the securitisation as required by Article 6(1) of the UK Securitisation Regulation (the "UK Retention Requirement"). In addition, although the EU Securitisation Regulation is not applicable to it, Oodle, as originator, will retain a material net economic interest of not less than 5% in the securitisation in accordance with Article 6 of the EU Securitisation Regulation.

US Risk Retention: The Seller, as the sponsor under the US Risk Retention Rules, does not intend to retain at least 5% of the credit risk of the securitised assets for purposes of compliance with the final rules promulgated under Section 15G of the US Securities Exchange Act of 1934, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: As at the Closing Date, no notification will be submitted to the UK Financial Conduct Authority in accordance with Article 27 of the UK Securitisation Regulation.

Compare/contrast: Dowson 2024-1, Silver Arrow SA Compartment UK 2025-1