Bumper 8 (UK) Finance plc

Transcription

1 Monthly Investor Report - June 2017 Revolving Period Reporting Date: 15 June 2017 Leaseplan UK Limited 165 Bath Road Slough Berkshire SL1 4AA (United Kingdom) Tel: +31 (0) Bumper.IR@leaseplancorp.com Website: Intertrust Management Limited 35, Great St. Helen's London EC3A 6AP United Kingdom

2 Table Contents Page General Information & Key Dates 3 Notes Information 4 Counterparty Credit Ratings 5 Trigger Events 5 Liquidity Reserve Ledger 6 Set-Off Reserve Ledger 6 Maintenance Reserve Ledger 6 Commingling Reserve Ledger 7 Reserve Loan Interest 7 Development Pool within Collection Period 8 Available Distribution Amount 9 Revolving Period Priority Payments 10 Swap Information 11 Delinquency Prile 12 Defaulted Lease 13 Sales Proceeds 14 Replenishment Ledger 15 Replenishment Criteria 15 Revolving Period Termination Event 16 Amortisation Schedule 17 Stratification Tables 19 Additional Ledgers 26 Contact Information 27 The defined terms used in the monthly report shall, by reference, incorporate the defined terms set out generally in the Prospectus and more specifically in the Glossary Defined Terms in the Prospectus Page 2/27

3 General Information & Key Dates Note Class Class A Class B Class C General information Issuer Bumper 8 (UK) Finance plc Bumper 8 (UK) Finance plc ISIN Code XS XS Common code Stock Exchange Listing(s) Irish Stock Exchange Irish Stock Exchange Currency Great Britain Pound Great Britain Pound Great Britain Pound Number Notes 4, ,200 Original Credit Rating(s) (S&P/Fitch/DBRS) Current Credit Ratings(s) (S&P/Fitch/DBRS) AAA (sf)/aaa (sf)/aaa (sf) AA (sf)/aa+ (sf)/aa (h) (sf) N/A AAA (sf)/aaa (sf)/aaa (sf) AA (sf)/aa+ (sf)/aa (h) (sf) N/A Key Dates Closing Date 7 Feb Feb Feb 2017 Legal Maturity Date 20 Nov Nov Nov 2027 Portfolio Date 31 May May May 2017 Reporting Date 15 Jun Jun Jun 2017 Interest Payment Date 20 Jun Jun Jun 2017 Current Reporting Period 1 May May May May May May 2017 Accrual Start Date 22 May May May 2017 Accrual End Date 20 Jun Jun Jun 2017 Accrual Period (in days) Fixing Date Reference Rate 22 May May 2017 The Class A & B Notes are placed with public investors, which are not in the Originator Group Page 3/27

4 Notes Information Note Class Class A Class B Class C Principal information Original Principal 400,000, ,000, ,000, Original per Note 100, , , Principal before Payment 400,000, ,000, ,000, Total Principal Payments Principal after Payment 400,000, ,000, ,000, Principal per Note before Payment 100, , , Principal Payments per Note after Payment per Note 100, , , Interest information Reference Rate Libor1M Libor1M Fixed Coupon Reference Rate (in %) N/A Margin (in %) N/A Current Coupon (in %) Day Count Convention act/365 act/365 act/365 Total Interest Amount due 248, , , Interest Amount due per Note Total Unpaid Interest Amount in Period Total Cumulative Unpaid Interest Amount Total Principal + Interest Payments 248, , , Credit Enhancement at closing ADB at Closing 544,999, ,999, Through minimum Liquidity Reserve 2,000, as a % total ADB 0.37 Through Subordination 145,000, ,000, as a % total ADB Current Credit Enhancement ADB at Current 544,999, ,999, Through minimum Liquidity Reserve 2,000, as a % total ADB 0.37 Through Subordination 145,000, ,000, as a % total ADB LeasePlan in its capacity as originator has undertaken to retain, on an on-going basis, a material net economic interest not less than 5% in the Bumper 8 transaction in accordance with Article 405 the CRR and Article 51 the AIFMR Page 4/27

5 Counterparty Credit Ratings Counterparty Credit Ratings S&P Fitch DBRS Role Party Short Term Long Term Short Term Long Term Short Term Long Term Account Bank BNP Paribas A-1 A F1 A+ R-1 (m) AA (l) Swap Counterparty BNP Paribas A-1 A F1 A+ R-1 (m) AA (l) Reserve Loan Provider LeasePlan Corporation N.V. A-3 BBB- F2 BBB+ N/A N/A Trigger Events Reserves Trigger Event with respect to Set-Off Reserves Ledger Reserves Trigger Event with respect to Maintenance Reserves Ledger Reserves Trigger Event with respect to Commingling Reserves Ledger True True True Appointment Trigger Event occurred and is continuing Insolvency Event with respect to LPUK occurred False False Page 5/27

6 Liquidity Reserve Ledger % A + B Notes Value Liquidity Reserve Ledger Beginning Period 0.56 % 2,380, Required Liquidity Reserve Amount 0.56 % 2,380, Amount Credited to the Liquidity Reserve Ledger in Period 0.56 % 2,380, Amount withdrawn from the Liquidity Reserve Ledger in Period 0.56 % 2,380, Liquidity Reserve Ledger end Period 0.56 % 2,380, Liquidity Reserve Advance repayment principal 0.00 Set-Off Reserve Ledger % ADB Value Set-Off Reserve Ledger at Beginning Period 0.39 % 2,147, Required Set-Off Reserve Amount 0.39 % 2,147, Amount credited to the Set-Off Reserve Ledger in Period 0.00 % 0.00 Amount debited from the Set-Off Reserve Ledger 0.00 % 0.00 Excess Amount the Set-Off Reserve Ledger 0.00 % 0.00 Set-Off Reserve Ledger at the End Period 2,147, Fixed Component 2,147, Required Set-Off Reserve Amount 2,147, Value Maintenance Reserve Ledger % ADB Value Required Maintenance Reserve Ledger at Beginning Period 1.54 % 8,390, Required Maintenance Reserve Amount 1.55 % 8,469, Amount credited to the Required Maintenance Reserve Ledger in Period 0.01 % 78, Amount debited from the Maintenance Reserve Ledger 0.00 % 0.00 Excess Amount the Maintenance Reserve Ledger 0.00 % 0.00 Maintenance Reserve Ledger at the End Period 8,469, the Maintenance Settlement Ledger 8,469, Required Maintenance Reserve Amount 8,469, Value Page 6/27

7 Commingling Reserve Ledger % ADB Value Commingling Reserve Ledger at Beginning Period 5.96 % 32,508, Required Commingling Reserve Amount 6.03 % 32,884, Amount credited to the Commingling Reserve Ledger in Period 0.07 % 376, Amount debited from the Commingling Reserve Ledger 0.00 % 0.00 Excess Amount the Commingling Reserve Ledger 0.00 % 0.00 Commingling Reserve at the End Period 32,884, Value Lease Interest Collections scheduled to be received 2,266, Lease Principal Collections scheduled to be received 10,171, Multiplier 1.62 Highest Aggregate Repurchase Price scheduled to be received in any Collection Period 10,187, Multiplier 1.25 Required Commingling Reserve Amount 32,884, Reserve Loan Interest Total Reserve at Beginning Period 45,426, Value Day Count Convention Act/365 Days Accrued 29 Interest Type Floating Base Rate % Margin % Current Coupon % Reserve Loan Interest 68, Page 7/27

8 Development Pool within Collection Period Aggregate at Beginning Collection Period 544,999, Cash-Flow related items (A-E) A. Lease Collections Lease Principal Collections received in Collection Period 10,811, Lease Interest Collections received in Collection Period 2,331, Lease Service Collections received in Collection Period 2,750, Lease VAT Collections received in Collection Period 3,035, Total Collections, including Lease Servicing Collections 18,927, B Repurchase / Call Option exercise Repurchase due to Breach Eligibility Criteria 3,719, Repurchase due to Breach Replenishment Criteria 0.00 Call Option Exercise due to Lease Agreement Early Termination 1,741, Call Option Exercise due to Lease Agreement Maturity 496, Call Option Exercise due to Lease Agreement Silent Extension 941, Call Option Exercise due to Lease Agreement Extension 0.00 Total Repurchase/Call Option excercise Price 6,899, C Deemed Collections Change (decrease) in due to Recalculation ("Aggregate Reduction Amount") 0.00 Other Deemed Collections received 0.00 Total Deemed Collections 0.00 D Recoveries Vehicle Realisation Proceeds (less the Realisation Agent Fee) 197, Cash Recoveries on Defaulted Lease received in Collection Period 24, Total Recoveries 222, E Other Change (increase) in due to Recalculation ("Aggregate Increase Amount") 19, Accrued but unpaid Aggregate Increase Amount all previous Collection Periods 0.00 Non Cash-Flow related items Defaulted Lease (which defaulted in the Collection Period) 188, Aggregate at End Collection Period (before replenishment) 526,663, Replenished Portfolio 18,336, Aggregate (after replenishment) 544,999, Page 8/27

9 Available Distribution Amount (a) any Collections (other than VAT Collections) collected or received, as the case may be, during the immediately preceding Monthly Collection Period; 15,917, (b) any Deemed Collections to be paid by the Seller on such Interest Payment Date, in respect the immediately preceding Monthly Collection Period; 0.00 (c) any Vehicle Realisation Proceeds collected or received, as the case may be, during the immediately preceding Monthly Collection Period; 197, (d) any Repurchase Price to be paid by the Seller on or prior to such Interest Payment Date in relation to a repurchase during the immediately preceding Monthly Collection Period or in respect a repurchase pursuant to a Clean-up Call prior to such Interest Payment Date; 6,899, (e) any Investment Earnings; 0.00 (f) any Net Swap Receipts under the Interest Rate Swap Agreement received on or immediately preceding such Interest Payment Date; 0.00 (g) any Maintenance Coordinator Fee received by the Issuer from LPUK; 1, (h) any sum standing to the credit the Replenishment Ledger; 0.05 (i) any sum standing to the credit the Liquidity Reserve Ledger; 2,380, (j) (Subject to any restriction on the use such reserve as described in the section entitled "Absence Calculations by the Servicer" below) if the Servicer or the Realisation Agent has failed to transfer to the Purchaser any Collections (other than Deemed Collections) or Vehicle Realisation Proceeds received by the Servicer or the Realisation Agent during or with respect to the preceding relevant Collection Period in accordance with the Servicing Agreement and/or Realisation Agency Agreement, the amounts standing to the credit the Commingling Reserve Ledger up to an amount equal to such shortfall; 0.00 (k) (subject to any restriction on the use such reserve as described in the section entitled "Absence Calculations by the Servicer" below) any amount standing to the credit the Set-Off Reserve Ledger up to an amount equal to the aggregate amount in which Lessees have set-f amounts against or deducted or withheld amounts due as s or Final Balloon Payments to LPUK where those amounts have not yet been paid by LPUK to the Purchaser as a Deemed Collection; 0.00 (l) (subject to any restriction on the use such reserve as described in the section entitled "Absence Calculations by the Servicer" below), upon the occurrence an Insolvency Event with respect to LPUK and/or to the extent LPUK (in its capacity as Sub-Maintenance Coordinator) does not, or is no longer able to cover the costs for Lease Services or related costs, any amount standing to the credit the Maintenance Reserve up to an amount equal to the shortfall maintenance and related costs not covered by LPUK measured by or on behalf the Purchaser; 0.00 (m) any amount standing to the credit the Junior Deferred Purchase Price Reserve Ledger; 0.00 (n) following repayment in full the Reserves Trigger Advances (and any Further Reserves Trigger Advance (if applicable), all amounts standing to the credit the Commingling Reserve Ledger, the Maintenance Reserve Ledger and the Set-Off Reserve Ledger (as applicable) in an amount equal to the excess standing to the credit the Commingling Reserve Ledger, the Maintenance Reserve Ledger and the Set-Off Reserve Ledger (as applicable) over the amount the relevant Required Reserve Amount then outstanding; 0.00 (o) any other amounts received by the Issuer after the Closing Date not otherwise excluded from Available Distribution Amounts; and 0.00 (p) following repayment in full the Reserves Trigger Advances (and any Further Reserve Trigger Advance (if applicable) and following the date on which the Notes have been repaid in full, all amounts standing to the credit the Commingling Reserve Ledger, the Maintenance Reserve Ledger and the Set-f Reserve Ledger (as applicable) Total Available Distribution Amount 25,395, Page 9/27

10 Revolving Period Priority Payments Total Available Distribution Amount 25,395, (a) to pay any taxes due and payable by the Issuer, other than corporation tax on amounts standing to the credit the Retained Prit ledger; 0.00 (b) prior to the appointment LPUK as Sub-Maintenance Coordinator being terminated, to pay the Seller the Senior Deferred Purchase Price; 2,750, (c) to pay pari passu and pro rata any amounts payable to the LPUK Security Trustee, Issuer Security Trustee and Note Trustee (and any Appointee or LPUK Security Trustee Appointee, as applicable) and the Trustee Agent under the LPUK Deed Charge and/or Issuer Deed Charge and/or Trust Deed and to any Receiver appointed under the LPUK Deed Charge and/or Issuer Deed Charge; 0.00 (d) to pay pari passu and pro rata any Senior Expenses (other than those paid elsewhere hereunder), the Servicer Fee, the Back-Up Servicer Fee, the Back-Up Servicer Stand-By Fee, the Sub-Maintenance Coordinator Fee, the Back-Up Sub- Maintenance Coordinator Fee, the Back-Up Sub-Maintenance Coordinator Stand-By Fee, the Reporting Agent Fee, the Realisation Agent Fee, the Back-Up Realisation Agent Fee and the Back-Up Realisation Agent Stand-By Fee; 85, (e) to credit an amount equal to 350 on each Interest Payment Date to the Retained Prit Ledger; (f) to pay amounts payable by the Issuer to the Interest Rate Swap Counterparty in respect any Net Swap Payments or (to the extent not paid from the Swap Collateral Accounts) any Swap Termination Payments under the Interest Rate Swap Agreement (other than any Subordinated Termination Payments); 78, (g) to pay pari passu and pro rata amounts payable in respect accrued and unpaid interest on the Class A Notes (including, without limitation, overdue interest); 248, (h) to pay pari passu and pro rata amounts payable in respect accrued and unpaid interest on the Class B Notes (including, without limitation, overdue interest); 23, (i) to credit the Liquidity Reserve Ledger such that the balance standing to the credit there is equal to the Required Liquidity Reserve Amount; 2,380, (j) to pay (i) any Additional Portfolio Purchase Price if such Interest Payment Date is an Additional Portfolio Purchase Date and thereafter (ii) to credit any Excess Collection Amount to the Replenishment Ledger such that the balance standing to the credit there (when aggregated with any Additional Portfolio Purchase Price paid on such Interest Payment Date) is equal to the Required Replenishment Amount; 18,336, (k) to pay pari passu and pro rata amounts payable in respect accrued and unpaid interest on the Class C Notes (including, without limitation, overdue interest); 228, (l) to pay to the Reserve Loan Provider amounts payable in respect accrued and unpaid interest on each Advance and Further Reserves Trigger Advance under the Reserve Loan (including, without limitation, overdue interest); 68, (m) to pay to the Reserves Loan Provider amounts payable in respect the principal outstanding with respect to each Advance or Further Reserves Trigger Advance under the Reserve Loan, in accordance with the terms the Reserves Loan Agreement; 0.00 (n) (to the extent not paid from the Swap Collateral Accounts) to pay to the Interest Rate Swap Counterparty any Subordinated Termination Payments; and 0.00 (o) for so long as LPUK is not in default its obligation to repurchase the s (if applicable) and the RV Claims or to sell the Leased Vehicles in accordance with the terms the Purchase Agreement and the Realisation Agency Agreement, and each Required Reserve Amount has been credited to the relevant Trigger Reserve Ledger, or at any time after the Notes have been repaid or provided for in full, the junior deferred purchase price being: (i) an amount equal to the Aggregate Increase Amount relating to the immediately preceding Monthly Collection Period plus all accrued but unpaid Aggregate Increase Amounts all previous Monthly Collection Periods; and (ii) all remaining funds, (items (i) and (ii) above being the ""Junior Deferred Purchase Price"" and, together with the Senior Deferred Purchase Price and the VAT Deferred Purchase Price the "Deferred Purchase Price"). 1,194, Page 10/27

11 Swap Information Interest Rate Swap - Class A & Class B Notes Original Swap Notional Amount (Outstanding Amount Notes at Closing) 425,000, Current Swap Notional Amount (Outstanding Amount Notes before principal repayment) 425,000, Fixed Interest Rate % Floating Interest Rate % Paying Leg (Fixed) Swap 163, Receiving Leg (Floating) Swap 85, Net Swap Receipts 0.00 Net Swap Payments 78, Page 11/27

12 Delinquency Prile Delinquency Level Number Vehicles relating to Outstanding Invoices Amount Invoices Outstanding Oustanding Receivables divided by Aggregate Aggregate Lease Receivables Aggregate Residual Value and Balloon Amount Total Aggregate (%) Performing 40, % 254,642, ,041, ,684, % <= 30 days , % 4,078, ,582, ,660, % days , % 1,251, ,705, ,956, % days , % 1,512, ,382, ,895, % > 90 days , % 1,476, ,326, ,802, % Total 41, , % 262,962, ,037, ,999, % Page 12/27

13 Defaulted Lease Collection Period Number Defaulted Lease Defaulted in Collection Period Aggregate Defaulted Initial or Additional Portfolio at the respective Cut-Off Date the Initial or Additional Portfolio Sum the Aggregate the Initial Portfolio and the Aggregate any Additional Portfolio as calculated as the relevant Cut- Off Date in relation to a Purchased Vehicle Cumulative Default Ratio % , , ,999, ,999, % , , ,481, ,481, % , , ,823, ,305, % , ,215, ,892, ,197, % , ,404, ,336, ,533, % Total 122 1,404, ,533, % Page 13/27

14 Sales Proceeds Month Number vehicles sold Aggregated Net Sales Proceeds Aggregated Compensation Payments Aggregated Gross Sales Proceeds Aggregated Net Book Value Gross Sales Proceeds as as % NBV , , ,143, ,100, % ,951, , ,460, ,316, % ,878, , ,741, ,367, % ,978, , ,654, ,306, % ,737, , ,252, ,837, % Total 1,822 15,225, ,026, ,251, ,929, Page 14/27

15 Replenishment Ledger Replenishment Ledger at Beginning Period 0.05 Amount debited from the Replenishment Ledger to Available Distribution Amount 0.05 Amount credited to the Replenishment Ledger on Payment Date 0.16 Replenishment Ledger at End Period 0.16 Additional Portfolio Required Replenishment Amount 18,336, Additional Portfolio purchased on the Additional Purchase Date 18,336, Replenishment Criteria (a) (b) (c) (d) (e) Each the top 1 to 3 Lessees measured in relation to the respective contribution to the Aggregate as at the immediately preceding Cut-Off Date does not account for more than 2% the Aggregate as at the immediately preceding Cut-Off Date; Each the top 4 to 5 Lessees measured in relation to the respective contribution to the Aggregate as at the immediately preceding Cut-Off Date does not account for more than 1.5% the Aggregate as at the immediately preceding Cut-Off Date; Each the top 6 to 10 Lessees measured in relation to the respective contribution to the Aggregate as at the immediately preceding Cut-Off Date does not account for more than 1.3% the Aggregate as at the immediately preceding Cut-Off Date; Each the top 11 to 15 Lessees measured in relation to the respective contribution to the Aggregate as at the immediately preceding Cut-Off Date does not account for more than 0.85% the Aggregate as at the immediately preceding Cut-Off Date; Each Lessee, other than the top 15 Lessees measured in relation to the respective contribution to the Aggregate as at the immediately preceding Cut-Off Date, does not account for more than 0.50% the Aggregate as at the immediately preceding Cut-Off Date; Treshold Value Actual Value Trigger Breached 10,900,000 10,888,610 No 8,175,000 8,162,377 No 7,085,000 7,084,452 No 4,632,500 4,275,767 No 2,725,000 2,718,445 No (f) Sum Estimated does not account for more than 45% the Aggregate Portfolio 245,250, ,480,913 No (g) (h) (i) the Aggregate resulting from Lease in respect which the Lessee is classified in a specific industry does not account for more than 20%; the Aggregate resulting from Lease with a remaining term more than 48 months does not account for more than 10.00% the Aggregate ; and the Aggregate resulting from SME Lease does not account for more than 69.00% the Aggregate ; 109,000, ,490,053 No 54,500,000 32,368,444 No 376,050, ,469,021 No Page 15/27

16 Revolving Period Termination Event Revolving Period Termination Event means the occurrence any the following events: Trigger Level Actual Value Trigger Breached (a) the amount credited to the Replenishment Ledger and remaining in the Issuer Account after the application the relevant Priority Payments on two consecutive Payment Dates exceeds 10 per cent. the Aggregate on the Initial Cut-Off Date; 10% 0% No (b) the Cumulative Default Ratio exceeds 3 per cent. on any Payment Date; 3.00 % 0.23 % No (c) the Delinquency Ratio exceeds 0.4 per cent. on any Payment Date; 0.40 % 0.06 % No (d) the Aggregate plus the amount standing to the credit the Replenishment Ledger is on any Interest Payment Date lower than the sum (i) the Aggregate Principal Amount Outstanding the Class A Notes, (ii) the Aggregate Principal Amount Outstanding the Class B Notes and (iii) the Aggregate Principal Amount Outstanding the Class C Notes on any Interest Payment Date (for the avoidance doubt, calculated after the application the Revolving Period Priority Payments); (e) a Seller Event Default; No (f) a Servicer Termination Event; No (g) a Realisation Agent Termination Event; No (h) a Sub-Maintenance Coordinator Termination Event; No (i) (j) an event default or following an Early Termination Event, as defined in the Interest Rate Swap Agreement; any regulatory and/or tax issues preventing the Issuer from purchasing the s and the RV Claims; (k) if the Liquidity Reserve is not funded to the Required Liquidity Reserve Amount; or No No No No (l) if the Reserve Loan Provider fails to fund any the Reserve Loans up to the relevant Required Reserve Amount in accordance with its obligations under the Reserve Loan Agreement. No Page 16/27

17 Amortisation Schedule Collection Period Month Aggregate Lease Interest and Principal Aggregate Scheduled Cashflow Aggregate Balloon Amount Scheduled Cashflow Aggregate Planned Cashflow Amortisation May ,179, Jun ,388, ,419, , ,213, ,966, Jul ,743, ,387, , ,475, ,490, Aug ,461, ,513, , ,255, ,235, Sep ,234, ,526, , ,241, ,993, Oct ,006, ,939, , ,434, ,558, Nov ,909, ,397, , ,013, ,545, Dec ,682, ,298, , ,435, ,109, Jan ,156, ,769, , ,335, ,774, Feb ,611, ,215, , ,345, ,428, Mar ,086, ,953, , ,879, ,549, Apr ,343, ,037, , ,143, ,406, May ,097, ,251, , ,011, ,394, Jun ,780, ,100, , ,612, ,782, Jul ,486, ,145, , ,462, ,320, Aug ,165, ,068, , ,686, ,633, Sep ,929, ,729, , ,597, ,035, Oct ,671, ,565, , ,898, ,137, Nov ,295, ,233, , ,403, ,734, Dec ,875, ,504, , ,201, ,532, Jan ,450, ,762, , ,844, ,688, Feb ,980, ,609, , ,141, ,546, Mar ,062, ,836, ,553, ,451, ,094, Apr ,538, ,133, , ,575, ,519, May ,241, ,599, , ,633, ,886, Jun ,915, ,105, , ,937, ,948, Jul ,515, ,669, , ,167, ,780, Aug ,141, ,242, ,038, ,423, ,357, Sep ,752, ,187, ,169, ,109, ,247, Oct ,505, ,916, ,081, ,502, ,744, Nov ,259, ,599, ,159, ,018, ,726, Dec ,847, ,524, , ,288, ,437, Jan ,635, ,792, , ,236, ,201, Feb ,347, ,755, , ,672, ,528, Mar ,178, ,910, ,417, ,506, ,021, Apr ,943, ,921, , ,806, ,214, May ,863, ,676, , ,295, ,918, Jun ,674, ,507, , ,838, ,080, Jul ,473, ,488, , ,791, ,288, Aug ,267, ,444, , ,280, ,007, Sep ,032, ,204, ,023, ,260, ,747, Oct , ,239, , ,938, ,808, Nov , ,468, , ,805, ,003, Dec , ,341, , ,320, ,682, Jan , ,746, , ,602, ,080, Feb , ,259, , ,050, ,029, Mar , ,670, , ,631, ,397, Apr , ,370, , ,081, ,315, May , , , ,150, ,165, Jun , , , , ,386, Jul , , , ,054, ,332, Aug , , , ,072, ,260, Sep , , , ,108, ,152, Oct , , , ,699, ,452, Nov , , , ,265, ,187, Dec , , , , ,524, Jan , , , , ,862, Feb , , , , ,271, Mar , , , , ,517, Page 17/27

18 Collection Period Month Aggregate Lease Aggregate Interest and Principal Expectancy Rights Scheduled Cashflow Aggregate Balloon Amount Scheduled Cashflow Aggregate Planned Cashflow Amortisation Apr , , , , May , , , , Jun , Jul , Aug , , , Sep , , , , Oct , , , , Nov , , , Dec , , , , Jan , Feb , Mar , Apr , May , Jun , Jul , , , Aug , , , Sep , Oct , , , Nov , , , Dec , , Jan Feb Page 18/27

19 Stratification Tables Business Sector Number Lease Lease Balloon SME/Retail 22, % 313,469, % 149,648, ,270, ,550, Government 1, % 19,968, % 9,603, ,358, , Corporate 16, % 211,562, % 103,710, ,852, Product Type (open closed) Number Lease Lease Balloon Operational Lease Closed Calculation 29, % 394,439, % 186,305, ,577, ,557, Operational Lease Open Calculation 11, % 150,560, % 76,656, ,903, Vehicle Type Number Lease Lease Balloon Car 24, % 347,889, % 156,160, ,193, ,534, Light Commercial Vehicle (LCV) 16, % 195,866, % 106,212, ,712, ,941, Heavy Goods Vehicle (HGV) % 1,200, % 555, , , Commercial Vehicle % 44, % 33, , Product Type Number Lease Lease Balloon Contract Purchase 1, % 19,779, % 9,842, ,939, ,997, Lease Purchase % 6,756, % 5,012, ,744, Operating Lease 33, % 443,260, % 204,719, ,541, Finance Lease 6, % 75,203, % 43,388, ,815, New Versus Used Number Lease Lease Balloon New 41, % 544,999, % 262,962, ,480, ,557, Used Total current discounted balance (>= - <) Number Lease Lease Balloon , , % 5,493, % 2,601, ,471, , , , , % 87,458, % 36,257, ,454, ,745, , , , % 190,549, % 89,573, ,077, ,898, , , , % 153,742, % 79,021, ,394, ,326, , , , % 60,604, % 31,806, ,441, ,356, , , % 18,115, % 9,170, ,754, ,191, > % 29,036, % 14,530, ,886, ,618, Page 19/27

20 Total Investment Amount (>= - <) Number Lease Lease Balloon , , % 21,054, % 10,083, ,278, ,692, , , , % 284,976, % 137,180, ,864, ,931, , , , % 188,758, % 91,524, ,958, ,274, , , , % 27,597, % 13,635, ,810, ,151, , , % 9,501, % 4,372, ,353, , , >= % 13,111, % 6,164, ,216, ,730, Expected Nominal (>= - <) Number Lease Lease Balloon , % 97,981, % 57,525, , ,557, , , , % 58,600, % 33,376, ,224, , , , % 127,225, % 67,180, ,044, , , , % 111,960, % 49,288, ,672, , , , % 69,747, % 27,373, ,374, , , , % 32,544, % 11,951, ,593, , >= 1, % 46,939, % 16,267, ,672, Expected (>= - <) Number Lease Lease Balloon , , % 102,067, % 60,520, ,989, ,557, , , , % 87,640, % 50,894, ,746, , , , % 133,151, % 67,542, ,608, , , , % 107,746, % 43,777, ,968, , , , % 54,389, % 20,154, ,235, , , , % 25,107, % 8,411, ,695, , >= 1, % 34,896, % 11,660, ,236, Original Term (>= - <) Number Lease Lease Balloon % 5, % 5, % 1,541, % 296, ,245, , % 34,743, % 8,637, ,218, , , % 240,414, % 99,167, ,741, ,505, , % 204,514, % 113,911, ,459, ,143, >= 5, % 63,780, % 40,944, ,815, ,020, Page 20/27

21 Seasoning (>= - <) Number Lease Lease Balloon , % 258,056, % 143,613, ,794, ,649, , % 168,510, % 76,182, ,217, ,109, , % 92,565, % 35,042, ,250, ,273, , % 23,457, % 7,363, ,245, ,849, % 2,409, % 760, , , >= Contract Start Year Number Lease Lease Balloon % 906, % 172, , , , % 13,146, % 3,658, ,664, ,823, , % 57,826, % 19,350, ,011, ,464, , % 137,562, % 61,405, ,946, ,209, , % 263,240, % 135,038, ,338, ,863, , % 72,317, % 43,336, ,168, ,811, Contract End Year Number Lease Lease Balloon , % 33,049, % 4,404, ,484, ,160, , % 118,549, % 39,472, ,573, ,503, , % 195,409, % 94,526, ,187, ,695, , % 140,691, % 84,738, ,750, ,202, , % 45,617, % 31,338, ,304, ,975, % 9,887, % 6,989, , ,019, % 1,794, % 1,492, , Interest Rate (>= - <) Number Lease Lease Balloon 0.00 % % % 2,588, % 794, ,793, % % % 362, % 119, , % % 3, % 49,376, % 24,678, ,687, , % % 14, % 188,588, % 93,327, ,186, , % % 6, % 85,335, % 37,725, ,320, ,290, % % 3, % 57,304, % 23,955, ,850, ,498, % % 4, % 63,555, % 30,267, ,610, ,677, % % 3, % 42,760, % 21,457, ,634, ,668, % % 1, % 21,718, % 11,118, ,587, ,013, % % 1, % 11,836, % 6,508, ,891, ,436, % >= 1, % 21,572, % 13,011, ,674, ,886, Page 21/27

22 Lease Instalment (Interest & Depreciation) Number Lease Lease Balloon 0 - < , % 152,534, % 67,965, ,881, ,687, , % 301,483, % 151,832, ,531, ,119, , % 38,292, % 20,509, ,395, ,386, , % 7,688, % 4,092, ,968, , , , % 4,028, % 1,957, ,645, , , , % 3,184, % 1,388, ,589, , , >= 3, % 37,788, % 15,217, ,468, , Remaining Duration (>= - <) Number Lease Lease Balloon , % 71,819, % 14,755, ,711, ,352, , % 152,066, % 61,036, ,287, ,742, , % 190,253, % 101,309, ,195, ,748, , % 98,491, % 62,661, ,476, ,353, , % 30,543, % 21,684, ,499, ,359, >= % 1,824, % 1,514, , Internal Rating Corporate, Government Number Lease Lease Balloon 1 - Prime 2, % 24,006, % 11,757, ,249, A - Very strong 1, % 17,028, % 9,535, ,493, B - Strong 2, % 27,873, % 15,017, ,856, C - Relatively strong 4, % 54,482, % 25,403, ,079, A - Very acceptable 2, % 35,499, % 17,756, ,743, B - Acceptable 3, % 36,030, % 16,250, ,779, C - Relatively acceptable 1, % 18,438, % 8,879, ,558, A - Very sufficient 1, % 13,450, % 6,830, ,620, B - Sufficient % 1,395, % 756, , C - Relatively sufficient % 77, % 29, , A - Somewhat weak-sa % 416, % 155, , A - Sub-standard-Watch % 191, % 116, , NR - No Rating % 2,640, % 825, ,809, , Total 18, % 231,530, % 113,313, ,210, , Geographical Region Number Lease Lease s Balloon SOUTH EAST 11, % 152,919, % 74,751, ,527, ,640, SOUTH WEST 5, % 70,081, % 34,852, ,117, ,111, LONDON 4, % 59,579, % 28,331, ,432, ,815, WEST MIDLANDS 4, % 57,447, % 28,698, ,830, ,919, NORTH WEST 4, % 57,273, % 27,014, ,762, ,496, EAST MIDLANDS 4, % 54,998, % 27,478, ,956, ,563, YORKSHIRE & HUMBERSIDE 3, % 52,368, % 24,463, ,717, ,187, NORTH EAST 1, % 20,849, % 7,874, ,744, ,230, WALES % 13,801, % 6,771, ,078, ,951, EAST ANGLIA % 5,680, % 2,725, ,313, , Total 41, % 544,999, % 262,962, ,480, ,557, Page 22/27

23 Top 10 Vehicle Make Number Lease Lease s Balloon Ford 8, % 94,773, % 48,784, ,256, ,732, BMW 3, % 61,549, % 26,706, ,993, , Mercedes-Benz 3, % 59,246, % 28,482, ,530, ,234, Volkswagen 4, % 57,031, % 27,695, ,666, ,669, Audi 2, % 43,778, % 19,406, ,487, , VAUXHALL 3, % 27,513, % 15,032, ,040, ,440, Land Rover % 25,205, % 10,377, ,069, ,757, Renault 2, % 23,140, % 12,907, ,472, , Nissan 1, % 20,521, % 9,163, ,974, ,383, CITROEN 2, % 18,146, % 10,697, ,004, ,445, Other 8, % 114,092, % 53,708, ,985, ,398, Top 10 postal Towns Total 41, % 544,999, % 262,962, ,480, ,557, Number Lease Lease s Balloon LONDON 2, % 35,593, % 16,495, ,249, ,848, BRISTOL 1, % 11,943, % 6,887, ,287, , NEWCASTLE UPON TYNE % 11,172, % 3,323, ,706, , RICKMANSWORTH 1, % 11,082, % 5,756, ,291, , BIRMINGHAM % 10,851, % 6,133, ,436, , SLOUGH % 10,838, % 5,654, ,124, , PORTSMOUTH % 10,058, % 3,596, ,280, , SHEFFIELD % 8,220, % 3,895, ,479, , MILTON KEYNES % 8,164, % 4,406, ,550, , MANCHESTER % 7,325, % 3,246, ,479, , Other 31, % 419,749, % 203,566, ,596, ,586, Total 41, % 544,999, % 262,962, ,480, ,557, Page 23/27

24 Top 50 Clients Number Lease Lease s Balloon % 10,888, % 5,657, ,231, % 9,360, % 2,662, ,697, % 8,969, % 3,048, ,921, % 8,162, % 5,046, ,115, % 7,119, % 3,556, ,562, % 7,084, % 3,297, ,786, % 6,618, % 3,413, ,205, % 6,124, % 3,446, ,677, % 5,327, % 2,873, ,453, % 4,916, % 3,345, ,570, % 4,275, % 2,189, ,085, % 3,966, % 1,996, ,970, % 3,765, % 1,697, ,068, % 3,194, % 1,133, ,061, % 3,170, % 1,212, ,957, % 2,718, % 1,595, ,123, % 2,718, % 1,498, ,219, % 2,707, % 961, ,746, % 2,627, % 1,516, ,110, % 2,600, % 1,463, ,136, % 2,524, % 1,376, ,147, % 2,464, % 1,197, ,267, % 2,463, % 1,366, ,097, % 2,453, % 1,598, , % 2,437, % 718, ,718, % 2,432, % 1,112, ,320, % 2,421, % 1,353, ,068, % 2,415, % 1,099, ,316, % 2,399, % 1,304, ,094, % 2,367, % 875, ,492, % 2,314, % 1,346, , % 2,301, % 1,317, , % 2,278, % 946, ,332, % 2,250, % 1,227, ,023, % 2,199, % 1,260, , % 2,081, % 1,075, ,005, % 2,009, % 1,475, , % 1,974, % 1,216, , % 1,749, % 499, ,250, % 1,683, % 1,054, , % 1,622, % 851, , % 1,551, % 1,184, , % 1,488, % 1,035, , % 1,456, % 834, , % 1,369, % 884, , % 1,357, % 780, , % 1,354, % 419, , % 1,340, % 487, , % 1,317, % 746, , % 1,166, % 664, , Other 28, % 379,434, % 180,034, ,842, ,557, Total 41, % 544,999, % 262,962, ,480, ,557, Page 24/27

25 Industrial Sector* Number Lease Lease s Balloon C MANUFACTURING 7, % 105,490, % 54,744, ,335, ,409, F CONSTRUCTION 7, % 100,108, % 49,992, ,393, ,721, G WHOLESALE AND RETAIL TRADE REPAIR OF MOTOR VEHICLES 5, % 75,000, % 37,989, ,569, ,441, J INFORMATION AND COMMUNICATION 5, % 66,428, % 29,755, ,292, ,380, M PROFESSIONAL SCIENTIFIC AND TECHNICAL ACTIVITIES Q HUMAN HEALTH AND SOCIAL WORK ACTIVITIES N ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES 1, % 24,997, % 11,837, ,696, ,462, , % 24,575, % 8,417, ,585, , , % 24,131, % 11,482, ,414, ,235, L REAL ESTATE ACTIVITIES 1, % 21,419, % 10,083, ,420, , H TRANSPORTATION AND STORAGE 1, % 21,149, % 11,428, ,671, ,048, O PUBLIC ADMINISTRATION AND DEFENCE COMPULSORY SOCIAL 1, % 21,109, % 10,274, ,828, , Other 4, % 60,590, % 26,955, ,273, ,362, *Based on NACE Rev 2 Total 41, % 544,999, % 262,962, ,480, ,557, Page 25/27

26 Additional Ledgers Retained Prit Ledger % ADB Value Retained Prit Ledger at Beginning Period 0.00 % 1, Amount credited to the Retained Prit Ledger in Period 0.00 % Amount withdrawn from the Retained Prit Ledger in Period 0.00 % 0.00 Retained Prit Ledger at the End Period 0.00 % 1, Junior Deferred Purchase Price Reserve Ledger % ADB Value Junior Deferred Purchase Price Ledger at Beginning Period 0.00 % 0.00 Amount credited to the Junior Deferred Purchase Price Ledger in Period 0.00 % 0.00 Amount withdrawn from the Junior Deferred Purchase Price Ledger in Period 0.00 % 0.00 Junior Deferred Purchase Price Ledger at the End Period 0.00 % 0.00 Page 26/27

27 Contact Information Account Bank BNP Paribas Cash Manager Intertrust Finance Management (Ireland) Limited 10 Harewood Avenue 1st Floor, 1-2 Victoria Buildings London NW1 6AA Haddington Road, Dublin 4 United Kingdom D04 XN32, Ireland Corporate Services Provider Intertrust Management Limited Listing Agent Arthur Cox Listing Services Limited 35, Great St. Helen's Earlsfort Centre, Earlsfort Terrace London EC3A 6AP Dublin 2 United Kingdom Ireland Note Trustee, Issuer Security Trustee, LPUK Security Trustee BNP Paribas Trust Corporation UK Limited 10 Harewood Avenue London NW1 6AA Originator, Servicer, Realisation Agent, Sub-Maintenance Coordinator and Class C Note Purchaser Leaseplan UK Limited 165 Bath Road Slough Berkshire SL1 4AA United Kingdom United Kingdom Bumper.IR@leaseplancorp.com Principal Paying Agent, Registrar, Agent Bank BNP Paribas Securities Services, Luxembourg Branch 60 avenue J.F. Kennedy Reporting Agent Intertrust Netherlands B.V. Prins Bernhardplein 200 L-1855 Luxembourg 1097 JB Amsterdam Luxembourg The Netherlands securitisation@intertrustgroup.com Reserve Loan Provider LeasePlan Corporation N.V. Swap Counterparty BNP Paribas Gustav Mahlerlaan Harewood Avenue 1082 ME Amsterdam London NW1 6AA The Netherlands United Kingdom Bumper.IR@leaseplancorp.com Page 27/27