Oban Cards 2026-1 plc: 19 June 2026

The underlying receivables are a portfolio of designated credit card accounts (and any other such credit card accounts that may be so designated in future) originated by the Transferor (Vanquis Bank) in England and Wales, Scotland and Northern Ireland and certain other permitted jurisdictions. The Receivables arising on these credit card accounts will be purchased by the Receivables Trustee, subject to certain criteria being satisfied.

The initial Portfolio as at 31 December 2025 comprised of 1,339,062 accounts, of which 349,864 had a £0 balance.

UK & EU Risk Retention: The Transferor, as originator of the securitisation for the purposes of the UK Securitisation Regulation, confirms that it will retain a material net economic interest in the securitisation of not less than 5% of the nominal value of the securitisation in accordance with SECN 5.2.8R and Article 6(1) of Chapter 2 of the PRASR and Article 6(1) of the EU Securitisation Regulation (as if applicable to it and solely as it applies on the Series 2026-1 Closing Date) by way of a retention in accordance with SECN 5.2.8R(1)(d) and Article 6(3)(d) of Chapter 2 of the PRASR and Article 6(3)(d) of the EU Securitisation Regulation (as if applicable to it and solely as it applies on the Series 2026-1 Closing Date) of the first loss tranche, so that such retention equals in total not less than 5% of the nominal value of the securitised exposures (such retention being in the form of the Transferor holding the Class Z Notes) provided that the Transferor will not be in breach of such undertaking if it fails to so comply due to events, actions or circumstances beyond the control of the Transferor.

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 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.

STS: The Transferor, as originator for the purposes of the UK Securitisation Framework, will submit a UK STS Notification to the FCA in accordance with SECN 2.5 confirming that the requirements of SECN 2.2.2R to SECN 2.2.29R for designation as a UK simple, transparent and standardised securitisation have been satisfied.

Compare/contrast: Oban Cards 2021-1, NewDay Funding 2025-2