Vehis Auto Lease 2026 DAC: 24 June 2026

The obligations of the Issuer under the Notes and other obligations will be backed by a portfolio of auto lease receivables purchased by the Issuer from Vehis Finanse Sp Z O O. This will be the second public securitisation from the Issuer.

Vehis Finanse Sp Z O O was established in 2019. Vehis's head office is located at Katowice, Poland. Vehis has 35 branches throughout Poland. Its business activities include offering products related to the leasing of motor vehicles. The Vehis Group operates exclusively on the Polish market. It does not operate on the Russian or Belarusian markets.

At the cut-off date (31 March 2026) the portfolio consisted of 13,930 Lease Agreements, with 12,135 Lessees. The Average Remaining Principal Balance – PLN116,534. Car type: new – 74.7%, used – 25.3%. The WA seasoning is 5.6 mnths. Borrower Industry: Consumer – 16.0%, Construction – 15.6%, Wholesale & Retail Trade – 13.0% and Transportation & Storage – 9.3%.

EU & UK Risk Retention: Whilst any of the Notes remain outstanding, the Seller, in its capacity as originator, will retain for the life of the transaction a material net economic interest of not less than 5% with respect to the transaction in accordance with (i) Article 6(3)(d) of the EU Securitisation Regulation and (ii) SECN 5 (the "UK Retention Rules". As at the Closing Date, the Retention Requirements will be complied with by the Seller's interest in the Class Z Notes.

US Risk Retention: The Seller (or a majority-owned affiliate thereof) intends to comply with the US Risk Retention Rules by retaining an eligible horizontal residual interest in the securitisation, which will be evidenced by the retention of the Class Z Notes.

Compare/contrast: Vehis Auto Leasing 2025 DAC, E-Carat UK 2026-1 plc, Dowson 2026-1 plc