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Cardiff Auto Receivables Investor Report July 2021

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Cardiff Auto Receivables Investor Report July 2021 Classification: Public# CARDIFF AUTO RECEIVABLES SECURITISATION 2019-1 plc INVESTOR REPORT JULY 2021 Overview Reporting Date 12 August 2021 Collection Period 22 June 2021 - 21 July 2021 Interest Payment Date 16 August 2021 Deal Overview / Trigger Events Deal Name: Cardiff Auto Receivables Securitisation 2019-1 Issuer: Cardiff Auto Receivables Securitisation 2019-1 plc 1 Bartholomew Lane, London,EC2N 2AX, United Kingdom Contact Details Name Email Address Gavin Parker [email protected] 10 Gresham Street, London, EC2V 7AE Chris Morteo [email protected] 1st Floor Alexander House, Pier Head Street, Cardiff Bay, CF10 4PB Jacqui Keith [email protected] 1st Floor Alexander House, Pier Head Street, Cardiff Bay, CF10 4PB Stephen Davies [email protected] 1st Floor Alexander House, Pier Head Street, Cardiff Bay, CF10 4PB Nelson Lirio [email protected] 1st Floor Alexander House, Pier Head Street, Cardiff Bay, CF10 4PB Key Parties/Details Rating (if applicable) Role LEI Number Name Address DBRS / S&P Originator 2138008UXJZAK9L5PE86 Black Horse Limited N/A 25 Gresham Street, London, EC2V 7HN, United Kingdom Issuer 21380029WJFUM99THL82 Cardiff Auto Receivables Securitisation 2019-1 plc N/A 1 Bartholomew Lane, London,EC2N 2AX, United Kingdom Seller 2138008UXJZAK9L5PE86 Black Horse Limited N/A 25 Gresham Street, London, EC2V 7HN, United Kingdom Servicer 2138008UXJZAK9L5PE86 Black Horse Limited N/A 25 Gresham Street, London, EC2V 7HN, United Kingdom Cash Manager 2138008UXJZAK9L5PE86 Black Horse Limited N/A 25 Gresham Street, London, EC2V 7HN, United Kingdom Trustee US Bank Trustees Limited N/A 125 Old Broad Street, London, EC2N 1AR, United Kingdom Security Trustee US Bank Trustees Limited N/A 125 Old Broad Street, London, EC2N 1AR, United Kingdom AA/R-1 (middle)/ Stable trends ; Account Bank H7FNTJ4851HG0EXQ1Z70 Lloyds Bank plc 25 Gresham Street, London, EC2V 7HN, United Kingdom Short term A-1/Long term A+ AA/R-1 (middle)/ Stable trends ; RV Top Up Reserve Account Bank H7FNTJ4851HG0EXQ1Z70 Lloyds Bank plc 25 Gresham Street, London, EC2V 7HN, United Kingdom Short term A-1/Long term A+ AA/R-1 (middle)/ Stable trends ; Back-up Service Facilitator H7FNTJ4851HG0EXQ1Z70 Lloyds Bank plc 25 Gresham Street, London, EC2V 7HN, United Kingdom Short term A-1/Long term A+ Swap Counterparty 2138008UXJZAK9L5PE86 Black Horse Limited N/A 25 Gresham Street, London, EC2V 7HN, United Kingdom AA/R-1 (middle)/ Stable trends ; Swap Guarantor H7FNTJ4851HG0EXQ1Z70 Lloyds Bank plc 25 Gresham Street, London, EC2V 7HN, United Kingdom Short term A-1/Long term A+ Corporate Servicers Provider Intertrust Management Limited N/A 1 Bartholomew Lane, London,EC2N 2AX, United Kingdom Principal Paying Agent 5493008GNQHVI377MY19 Elavon Financial Services DAC, UK Branch Private Rating Meridien House 69-71 Clarendon Road, Watford WD17 1DS Registrar 5493008GNQHVI377MY19 Elavon Financial Services DAC, UK Branch Private Rating Meridien House 69-71 Clarendon Road, Watford WD17 1DS Subordinated Loan Provider 2138008UXJZAK9L5PE86 Black Horse Limited N/A 25 Gresham Street, London, EC2V 7HN, United Kingdom Arranger & Dealer 213800MBWEIJDM5CU638 Lloyds Bank Corporate Markets plc N/A ; Short term A-1/Long term A 10 Gresham Street, London, EC2V 7AE, United Kingdom Account Balances Account Name at Reporting Date Opening balance as at 10.08.21 Distribution Account £27,591,947.41 Liquidity Reserve Account £9,151,049.25 RV Top Up Reserve Account £53,942,939.73 Swap Collateral Account £0.00 CARS 2019-1 Portfolio Opening Note balance £ 335,478,825.05 - Repurchase of Non-Permitted Variations - £ 167,158.80 - Repurchase of Non-Compliant Receivables (Reps & Warranty breaches) £ 0.00 - Repurchase of Non-Eligible Receivables (LCR, CRR, Solvency II, ECB related by backs) £ 0.00 - Set Off Indemnity Amount due to dilution / set off £ 0.00 - CCA Compensation Amounts for Receivables that become illegal, invalid, non-binding or unenforceable under CCA £ 0.00 - Receivables Indemnity Amounts for Receivables that ceased to exist / no longer exists £ 0.00 Principal Collections in Period - £ 15,199,557.86 Defaulted Principal in the period £ 19,364.79 Closing Note Balance and Outstanding Receivables £ 320,131,473.18 Prepayment Rate - CPR Current Prior Period Month 2.74% 2.30% Annualised 32.83% 27.59% Notes Amount % Share Credit Enhancement* A Notes £ 134,061,473.18 41.88% 58.12% B Notes £ 76,260,000.00 23.82% 34.30% S Notes £ 109,810,000.00 34.30% Total Notes £ 320,131,473.18 100.00% *Credit Enhancement included here is the subordination only and does not include excess spread or any potential drawings under the RV Top Up Reserve Fund. Black Horse Ltd as the Seller confirms that, as at the date of this report, it is the Risk Retention Holder and continues to retain a material net economic interest of not less than 5 per cent, as disclosed in the Prospectus, in accordance with Article 6 of the Regulation (EU) 2017/2402. This is achieved through the retention of the first loss tranche (FLTR) Class S notes. Current Month Annualised Excess Spread 0.39% 4.56% Liquidity Reserve Account 9,151,050.00 Reference Portfolio Characteristics Key Characteristics of the Pool as at the end of the Collection period Current Number of loans 14,108 Outstanding principal balance (£) 320,131,473.18 Average current Principal Balance (£) 22,691.49 Minimum current Principal Balance (£) 0 Maximum current Principal Balance (£) 66,022.33 Weighted Average Rate (%p.a.) 5.79% Minimum APR (%) 0.00% Maximum APR (%) 15.72% Largest regional concentration in portfolio value (%) 23.31% Largest regional concentration in portfolio value (£) 74,615,813.90 1m Annualised Prepayment rate (%) 32.83% Weighted Average Seasoning of the Portfolio (months) 29 Weighted Average Remaining Term of the Portfolio (months) 17 Minimum Remaining Term of the Portfolio (months) 0 Maximum Remaining Term of the Portfolio (months) 26 Minimum Maturity Date 01/06/2021 Maximum Maturity Date 28/08/2023 Delinquent Principal Receivables Principal Balance % Covid-19 In response to the ongoing Covid-19 pandemic in the UK, it was announced on 18th March 2020 that auto loan borrowers Non-Delinquent £ 314,763,497.09 98.32% impacted financially by Covid-19 will be offered a payment holiday for up to three months. Any agreements identified as 1 - 30 days £ 4,862,853.49 1.52% having payment holidays applied for these purposes will be deemed to be non-permitted variations, and will be repurchased 31 - 60 days £ 456,329.84 0.14% in the following calculation period. Repurchases are defined as agreements where there has been more than one change to 61 - 90 days £ 48,792.76 0.02% direct debit date in consecutive months More general information on the scheme can be found on the FCA website at 91 - 120 days £ 0.00 0.00% https://www.fca.org.uk/consumers/coronavirus-information-personal-loans-credit-cards-overdrafts#Motor-finance 121-150 days £ 0.00 0.00% 151 -180 days £ 0.00 0.00% Total £ 320,131,473.18 100.00% Default Statistics Principal Balance Subsequent Recoveries Net Loss/-Profit Cumulative Balance Since Closing £2,941,359 £2,090,312 £851,047 RV Top Up Facility Voluntary Termination Statistics Principal Balance Subsequent Recoveries Net Loss/-Profit Drawdown Cumulative Balance Since Closing £6,891 (62,147) £0 £69,037 RV Top Up Facility PCP End of contract Hand back Statistics Principal Balance Subsequent Recoveries Net Loss/-Profit Drawdown Cumulative Balance Since Closing £3,345,478 £1,715,353 £0 £1,630,125 1 Classification:CARDIFF AUTO RECEIVABLESPublic# SECURITISATION 2019-1 plc INVESTOR REPORT JULY 2021 Blackhorse Portfolio Data - Stratification Tables Unaudited Stratification Tables as at 21 July 2021 Current Period Contract Type Number % Value (GBP) % Balloon Amount Personal Contract Purchase (PCP) 14,108 100.00% 320,131,473 100.00% 247,926,134 TOTAL 14,108 100.00% 320,131,473 100.00% Current Period Finance Type Number % Value (GBP) % New Cars 8,835 62.62% 242,491,330 75.75% Used Cars 5,273 37.38% 77,640,143 24.25% TOTAL 14,108 100.00% 320,131,473 100.00% Current Period Geographic Distribution Number % Value (GBP) % GREATER LONDON 1,420 10.07% 37,683,677 11.77% SOUTH EAST 3,195 22.65% 74,615,814 23.31% SOUTH WEST 1,526 10.82% 31,169,196 9.74% EAST ANGLIA 505 3.58% 10,886,865 3.40% EAST MIDLANDS 878 6.22% 20,135,090 6.29% WEST MIDLANDS 1,989 14.10% 45,983,518 14.36% NORTHERN 916 6.49% 19,084,977 5.96% NORTH WEST 1,779 12.61% 38,838,484 12.13% YORKSHIRE & HUMBERSIDE 1,339 9.49% 30,427,746 9.50% SCOTLAND 6 0.04% 153,183 0.05% WALES 553 3.92% 11,110,733 3.47% OTHER 2 0.01% 42,190 0.01% TOTAL 14,108 100.00% 320,131,473 100.00% Current Period Vehicle Make Number % Value (GBP) % LAND ROVER 6,400 45.36% 191,257,189 59.74% JAGUAR 3,428 24.30% 80,516,792 25.15% MERCEDES-BENZ 889 6.30% 14,414,396 4.50% VAUXHALL 593 4.20% 4,635,890 1.45% FORD 553 3.92% 4,461,853 1.39% BMW 232 1.64% 3,522,764 1.10% AUDI 199 1.41% 3,018,343 0.94% TESLA 49 0.35% 2,504,752 0.78% HYUNDAI 270 1.91% 2,379,077 0.74% VOLKSWAGEN 210 1.49% 2,115,197 0.66% KIA 210 1.49% 2,031,332 0.63% NISSAN 164 1.16% 1,533,261 0.48% FIAT 178 1.26% 1,104,634 0.35% RENAULT 118 0.84% 973,395 0.30% VOLVO 47 0.33% 753,588 0.24% CITROEN 101 0.72% 679,341 0.21% PEUGEOT 88 0.62% 596,101 0.19% MAZDA 52 0.37% 529,894 0.17% SEAT 62 0.44% 522,069 0.16% HONDA 43 0.30% 471,297 0.15% OTHER 222 1.57% 2,110,309 0.66% TOTAL 14,108 100.00% 320,131,473 100.00% Current Period Outstanding Principal (£) Number % Value (GBP) % 0.0000 <= 4,999.99 324 2.30% 1,322,752 0.41% 5,000.00 <= 9,999.99 2,054 14.56%
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