ROOF Leasing Austria S.A. (Compartment 2024): 04 June 2024

The transaction is backed by a portfolio of Austrian lease receivables in relation to certain financed objects purchased by the Issuer and originated by the Sellers in connection with lease agreements and hire purchase agreements in relation to certain motor vehicles and related vehicles.

Eligibility criteria (includes): that the Lease Receivables have been originated by the relevant Seller in the ordinary course of the relevant Seller's business and in compliance with the Credit and Collection Policy and are related to vehicles and have been created in compliance with all applicable laws; are governed by the laws of Austria; are legally valid, unsubordinated and binding agreements; have been entered into exclusively with the respective Lessee which, if they are corporate entities have their registered office or, if they are individuals have their place of residence, in Austria; have monthly instalment payments, which have either a 3-months EURIBOR floating interest basis or are based on a fixed interest rate; that no Lease Receivable is overdue; that the payment of Lease Receivables is not subject to any withholding tax.

As at 30 April 2024 (Initial Cut-Off Date) the portfolio comprised of 21,511 leases. Composition (by outstanding balance): SME new – 49.03%, private new – 19.95%, SME used – 14.90%, private used – 10.54%, others – 5.58%. The average current balance is Eur24,615 and the largest is Eur696,058. WA seasoning is 13.58 months.

EU Risk Retention: The Originators have undertaken to retain, on an ongoing basis until the earlier of the redemption of the Class A Notes in full and the Legal Final Maturity Date, at least 5% of the nominal amount of the "securitised exposures" by (i) retaining until the earlier of the redemption of the Class A Notes in full and the Legal Final Maturity Date, the Class B Notes and (ii) until the earlier of the redemption of the Notes in full and the Legal Final Maturity Date, in their capacity as Subordinated Lenders, providing the Subordinated Loan.

US Risk Retention: The Originators, as sponsors under the US Risk Retention Rules, do not intend to retain at least 5% of the credit risk of the Notes for the purposes of the US Risk Retention Rules, but rather intend to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: The Transaction is intended to meet the requirements for simple, transparent and standardised non-ABCP securitisations provided for by Articles 19 to 22 of the Securitisation Regulation.

Compare/contrast: ROOF Compartment 2021, FACT-2021-1, SC Austria Consumer Loan 2021