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Koromo Italy S.r.l.: 03 March 2023

The net proceeds of the offering of the Notes will be applied to fund the purchase of a portfolio of monetary claims and connected rights arising under loan agreements between Toyota Financial Services Italia SpA (the Originator) and the relevant Debtors.

As at the cut-off date (19 February 2023) the pool consisted of 28,809 fixed-rate loans where the average loan balance is Eur18,447 and no loans were in arrears. All vehicles were new. Contract Type: Toyota EASY / Lexus Easy / Pay Per Drive – 88.6%, To/Le Valore – 11.4%. Obligor concentration: top 1 – 0.0%, top 10 – 0.1%. The WA seasoning is 19.47 mnths. Regional distribution: Lombardia – 22.9%, Lazio – 17.0%, Veneto – 12.5% and Emilia-Romagna – 10.9%.

EU & UK Risk Retention: The Originator has undertaken that it will retain for the life of the transaction a material net economic interest of not less than 5% in the securitisation as required by Article 6(1) and the relevant applicable technical standards and by the EU Securitisation Regulation, as it forms part of domestic law of the United Kingdom by virtue of the EUWA, as at the Issue Date. Such material net economic interest is represented by the retention of not less than 5% of the retention of the first loss tranche (ie the Junior Notes).

US Risk Retention: The Securitisation will not involve risk retention by the Originator for the purposes of the final rules promulgated under Section 15G of the Securities Exchange Act of 1934. The Originator 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: Koromo SA (Compartment 3), Sunrise SPV 20 (2022-2)