Slaughter and May advised Oodle Financial Services on £393,750,000 Dowson 2025-1 auto loan securitisation

Slaughter and May advised Oodle Financial Services Limited in relation to the transaction. The Issuer, Dowson 2025-1, issued £393,750,000 of floating rate asset-backed sterling notes (the Notes) and residual certificates (the Residual Certificates). The Notes and Residual Certificates are backed by a portfolio of auto hire purchase agreements originated by Oodle Financial Services Limited, which acts as servicer under the securitisation. The Notes are listed on the main market of Euronext Dublin and comprise £227,500,000 Class A Notes, £35,000,000 Class B Notes, £24,500,000 Class C Notes, £19,250,000 Class D Notes, £19,250,000 Class E Notes, £24,500,000 Class F Notes, £26,250,000 Class X1 Notes and £17,500,000 Class X2 Notes. The Class A to X1 Notes are rated by Fitch and S&P; the Class X2 Notes are unrated. The Residual Certificates are unlisted and unrated. Oodle acquired 100% of the Residual Certificates and the X2 Notes on the closing date; the remaining Notes were subscribed for by third-party investors. Société Générale acted as Arranger and a Joint Lead Manager. BNP Paribas, Citigroup Global Markets Limited and Jefferies International Limited acted as Joint Lead Managers. The transaction is one of the first auto asset-backed securities deals in the UK market following the Financial Conduct Authority's consultation paper on the motor finance consumer redress scheme published in October 2025. Slaughter and May represented Oodle Financial Services Limited with a team composed by: Financing — Richard Jones (Partner), Jennifer Nice (Associate), Rebecca Cheung (Associate), Corey Hill (Trainee); Tax — Gareth Miles (Partner), Amy Motherwell (Associate), Gianni Prenol (Associate); Financial Regulation — David Shone (Partner), Kristina Locmele (Senior Counsel).

Slaughter and May advised Oodle Financial Services on £393,750,000 Dowson 2025-1 auto loan securitisation

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