Satus 2026-1: 01 May 2026

This will be the third public issue from Startline Motor Finance Limited, where the Issuer will make payments on the Notes from the payments of principal and interest it receives from borrowers pursuant to motor vehicle hire purchase agreements originated by Startline. These hire purchase agreements provide for fixed monthly payments over the term of the contract and provide for an additional Option to Purchase Fee at the end of the term. The Portfolio will not include PCP Agreements.

The provisional portfolio consists of 52,576 fully amortising customer receivables, of both motor vehicle hire purchase agreements (48,228) and personal contract purchase agreements (4,348). Client type: individuals – 100.0%. Car type: Used – 100.00%. The original LTV (where applicable) was 92.7% and the WA seasoning is 12.0 months. Regional Concentration: Scotland – 15.4%, North West – 13.8%, the South East – 11.2% and London – 10.4%.

UK & EU Risk Retention: The Retention Holder, as "original lender" for the purposes of the UK Securitisation Regulation and the EU Securitisation Regulation, will retain for the life of the transaction a material net economic interest of not less than 5% in the securitisation in accordance with Article 6(1) of the UK Securitisation Regulation and Article 6(1) of the EU Securitisation Regulation. As at the Closing Date, such interest will be satisfied by the Retention Holder holding no less than a material net economic interest of at least 5% of the nominal value of each of the Classes of Notes sold or transferred to investors.

US Risk Retention: The transaction is not intended to involve the retention by a sponsor of at least 5% of the credit risk of the securitised assets for purposes of compliance with Regulation RR, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: Neither the Issuer, the Seller, the Arranger nor the Lead Manager have any intention to notify ESMA or the FCA or otherwise seek designation of the securitisation in connection with which the Notes are issued as 'STS' or 'simple, transparent and standardised' as set out in Chapter 4 of the EU Securitisation Regulation or the UK STS Rules.

Compare/contrast: Satus 2024-1, Silver Arrow SA Compartment UK 2026-1