FACT S.A., acting in respect of its Compartment 2021-1: Rating Report

FACT S.A., acting in respect of its Compartment 2021-1 represents the issuance of Notes backed by a portfolio of receivables related to both automotive lease (including those associated with the future sale of the associated leased vehicles) and loan contracts granted by Porsche Bank Aktiengesellschaft (Porsche Bank or the Seller) to private and commercial debtors in Austria. The receivables are secured by trust rights associated with vehicles and other collateral. Porsche Bank services the receivables.