Bumper DE 2023 S.A.: 01 March 2023

The Notes are backed by the German-originated Purchased Lease Receivables, the Purchased Expectancy Rights and the respective Ancillary Rights as described in the prospectus and as acquired by the Issuer in accordance with the Lease Receivables Purchase Agreements and the Expectancy Rights Purchase Agreement (please see the prospectus).

As at 31 January 2023 the portfolio consisted of 31,210 lease agreements. Sector type (by current balances): Corporate – 86.83%, SME – 12.40% and Public Sector – 0.78%. Product Type: Closed Calculation – 59.04%, Open Calculation – 39.89%, Open Calculation with Client Risk – 0.94% and Sale and Lease Back – 0.14%. New vs Used Cars: New – 99.31%, Used – 0.69%. Geographic Region: Nordrhein-Westfalen – 28.06%, Baden-Württemberg – 17.68%, Hessen – 13.82% and Bayern – 13.10%.

EU Risk Retention: LPDE shall retain on an ongoing basis a material net economic interest in the securitisation of not less than 5% in its capacity as Subordinated Lender and will retain, on an ongoing basis until the earlier of the redemption of the Notes in full and the Legal Maturity Date, a first loss tranche constituted by the claim for repayment of a loan advance in an initial principal amount of EUR 175,000,000 made available by LPDE in its capacity as Subordinated Lender.

US Risk Retention: The Originator and the Issuer agreed that the issuance of the Notes was not designed to comply with the US Risk Retention Rules and that the Originator does not intend to retain at least 5% of the securitised assets for purposes of compliance with the US Risk Retention Rules, but rather intends to rely on a safe harbour provided for in Rule 20 of the US Risk Retention Rules regarding certain non-US related transactions.

STS: It is intended to notify ESMA that the transaction will meet the requirements of Articles 20 to 22 of the Securitisation Regulation (the STS Notification).

Compare/contrast: Bumper DE 2019-1 SA, Bavarian Sky SA (Comp German Auto Leases 7)