SC Sweden I: 31 May 2026

The Notes are backed by the Portfolio which consists of the Purchased Auto Loan Contracts, originated by the Seller (Santander Consumer Bank AS Norge) pursuant to the Credit and Collection Policy for the purposes of financing the acquisition of Financed Vehicles. The Seller operates a 20% minimum down payment policy for consumers, in line with Swedish law.

Eligibility Criteria (includes): was originated in the ordinary course of business of the Seller in accordance with the Credit and Collection Policy with full recourse to the relevant Debtor and, where applicable, the relevant Guarantor; is denominated and payable in SEK; bears interest calculated at a variable rate and payable monthly; is fully amortising by payment of monthly Instalments; the Instalments payable under the Auto Loan Contract are payable without any withholding or deduction for or on account of any taxes; the Auto Loan Contract is subject to and governed by Swedish law.

At the cut-off date the pool consisted of 40,894 loans, where the average outstanding balance is SEK158,881and the largest is for SEK2.693mln. Borrower type: Private – 99.4%, Sole Proprietor – 0.6%. Vehicle status: Used – 80.9%, New – 19.1%. Regional concentration: Stockholm – 17.2%, Västra Götaland – 14.8% and Skåne – 14.7%.

EU Risk Retention: The Seller (Santander Consumer Bank AS Norge) as Originator will agree to (a) retain, on an ongoing basis, a material net economic interest of not less than 5% in the securitisation, which will comprise of certain randomly selected exposures held on the balance sheet of the Seller which would otherwise have been securitised in the securitisation in accordance with Article 6(3)(c) of the EU Securitisation Regulation, and (b) comply with the disclosure obligations imposed on originators under Article 7 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 US Risk Retention Rules, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions that meet certain requirements.

STS: The securitisation is intended to qualify as a simple, transparent and standardised securitisation within the meaning of Article 18 of the EU Securitisation Regulation.

Compare/contrast: Svensk Autofinans 1 Ltd (redeemed), SCF Rahoituspalvelut (KIMI XIV)