Series Note Class Currency Issuance Amount Outstanding Amount Expected Redemption Date Scheduled Redemption Date Interest Basis Margin

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1 Transaction overview Report No: 1 Bloomberg Ticker: Report for the period ended: Determination Date: Transfer Date: Interest Payment Date: LNZCC 31-Dec Jan Jan Jan-19 s: From: To: Collection Period: 13-Dec Dec-18 Interest Period: 13-Dec Jan-19 Series Note Class Currency Issuance Amount Outstanding Amount Expected Redemption Date Scheduled Redemption Date Interest Basis Margin A NZD B NZD C NZD D NZD E NZD 2018-VFN N/A NZD Originator VFN * N/A NZD *Fixed Rate 157,220, ,220, ,830, ,830, ,760, ,760, ,630, ,630, ,560, ,560, ,000, ,831, ,410, ,390, Nov Nov-22 BKBM1M % 22-Nov Nov-22 BKBM1M % 22-Nov Nov-22 BKBM1M % 22-Nov Nov-22 BKBM1M % 22-Nov Nov-22 BKBM1M % 22-Nov Nov-23 BKBM1M % N/A N/A N/A % Master Trust Assets Eligible Receivable Balance (as at 31-Dec-2018): 233,719, Principal Balance 229,223, Outstanding Finance Charges 2,345, Series Required Retained Principal Ledgers 2,150, Cash Available for Reinvestment 0.00 Originator VFN 17,410, CRR Retention % The Transferor confirms that it will retain a material net economic interest of not less than 5%of the nominal value of the securitisation in accordance with Article 405 of the CRR and Article 51 of the AIMR, by way of an orignator's interest of not less than 5% of the nominal value of the securitised exposures. As at the reporting date, this retention is in the form of the Originator VFN Loan Note. Transaction Overview Page 1 of 10

2 Transaction Party Ratings Triggers Trustee Account Bank Transferor Account Bank Name Required Rating Current Rating Trigger Status Westpac New Zealand Limited Westpac New Zealand Limited A-1/A, F1/A, P-1/A2 A-1+/AA- / F1+/AA- / P-1/A1 PASS A-2/BBB, F2/BBB+, P-2/BBB A-1+/AA- / F1+/AA- / P-1/A1 PASS Consequences of Trigger Breach Replacement within specified period Replacement within specified period Counterparty Role Counterparty Contact Name Contact Transferor: Latitude Financial Services Limited Treasurer securitisation@latitudefinancial.com Servicer: Latitude Financial Services Limited Treasurer securitisation@latitudefinancial.com Trust Manager & Loan Note Trust Manager: Latitude Financial Services Limited Treasurer securitisation@latitudefinancial.com Trustee: The New Zealand Guardian Trust Company Limited Manager, Transaction Management ct-auckland@nzgt.co.nz Trustee Account Bank: Westpac New Zealand Limited Not Applicable Not Applicable Paul Varro Michael Donohue Key Contacts Contact paul.varro@latitudefinancial.com michael.donohue@latitudefinancial.com Transaction Overview Page 2 of 10

3 Report No: Collection Period Start 13-Dec-18 Collection Period End 31-Dec-18 No. of Days in Collection Period 19 Portfolio Key Performance Indicators Opening * Opening No of Accounts* 1 Average Account Balance * Dec ,399, ,283 3, * Credit Balance accounts are not included in reporting the balances / number of accounts Payment Received in Monthly Period Monthly Payment Rate Dec ,412, % Purchases in Monthly Period Purchase Rate Dec ,703, % Finance Charges & Interchange in Monthly Period Yield Dec ,600, % Charge-offs in Monthly Period Gross Charge-off Rate Dec , % Net Charge-offs in Monthly Period Net Charge-off Rate Dec , % Note: These tables report on both eligible and ineligible balances Account Addition Amounts No. of Accounts Added Accounts Added % (3M) Accounts Added % (12M) Dec % % Principal Balance of Accounts Added Accounts Added % (3M) Accounts Added % (12M) Dec % % Redesignated Accounts No. of Accounts Total Receivable Balance Dec Reason No. of Accounts Redesignated Total Receivable Balance Dec-2018 Defaulted Accounts 14 0 Key Performance Indicators Page 3 of 10

4 Report No: Report No: 1 Collection Period Start 13-Dec-18 Collection Period End 31-Dec-18 No. of Days in Collection Period 19 Interest Period Start 13-Dec-18 Interest Period End 21-Jan-19 No. of Days in Interest Period 40 Determination Date Payment Date 17-Jan Jan-19 Portfolio Summary Opening Outstanding Balance of Eligible 230,399, Opening No. of Eligible Accounts 74,283 Closing Outstanding Balance of Eligible 231,577, Closing No. of Eligible Accounts 73,717 Closing Outstanding Balance of Ineligible 0.00 Closing No. of Ineligible Accounts 0 Closing Outstanding Balance of all 231,577, No. of Designated Accounts 73,717 Closing Credit Balance of all (38,168.99) No. of Credit Balance Accounts 552 Account Age Distribution - Eligible Account Age Total Number of Accounts Number of Accounts Total < 1 year 11, % 32,451, % 1-2 years 10, % 34,935, % 2-3 years 7, % 26,853, % 3-4 years 4, % 17,437, % 4-5 years 4, % 18,156, % 5-6 years 5, % 19,869, % 6-7 years 4, % 18,490, % 7-8 years 4, % 15,648, % 8-9 years 2, % 6,411, % 9-10 years 2, % 6,588, % > 10 years 16, % 34,735, % Total 73, % 231,577, % > 10 years 9-10 years 8-9 years 7-8 years 6-7 years 5-6 years 4-5 years 3-4 years 2-3 years 1-2 years < 1 year 0 10,000,000 20,000,000 30,000,000 40,000,000 Weighted Average Account Age (Years) 5.33 Portfolio Strats Page 4 of 10

5 Account Balance Distribution - Eligible Account Balance Total Number of Accounts Number of Accounts Total = $0 11, % % $0 > and <= $5,000 45, % 97,257, % $5,000 > and <= $10,000 12, % 86,971, % $10,000 > and <= $15,000 2, % 32,531, % > $15, % 14,817, % Total (ex Credit Balance) 73, % 231,577, % > $15,000 $10,000 > and <= $15,000 $5,000 > and <= $10,000 $0 > and <= $5,000 = $0 Average Balance 3, Max. Account Baalnce 30, ,000,000 40,000,000 60,000,000 80,000, ,000,000 Credit Limit Distribution - Eligible Credit Limit Total Number of Accounts Number of Accounts Total = $ % % $0 > and <= $5,000 30, % 47,035, % $5,000 > and <= $10,000 28, % 100,590, % $10,000 > and <= $15,000 11, % 56,666, % > $15,000 2, % 27,284, % Total 73, % 231,577, % > $15,000 $10,000 > and <= $15,000 $5,000 > and <= $10,000 $0 > and <= $5,000 = $0 Average Credit Limit 6, ,000,000 60,000,000 90,000, ,000,000 Product Type - Eligible Product Total Number of Total Accounts Number of Accounts One Card Visa 2, % 8,217, % Creditline NZ 23, % 50,359, % GEM VISA 48, % 173,000, % Total 73, % 231,577, % One Card Visa Creditline NZ GEM VISA Portfolio Strats Page 5 of 10

6 Retail APR Distribution - Eligible Retail APR Total Number of Accounts Number of Accounts Total <=22.5% 3, % 11,388, % 22.5%> and <=28% 47, % 170,990, % 28%> and <=29.5% % 43, % >29.5% 22, % 49,156, % Total 73, % 231,577, % >29.5% 28%> and <=29.5% 22.5%> and <=28% <=22.5% Weighted Average Retail APR ,000, ,000, ,000, ,000,000 Delinquencies Distribution - Eligible Delinquencies Total Number of Accounts Number of Accounts Total Current 68, % 210,951, % 1-30 days 3, % 12,855, % days % 3,326, % days % 1,697, % days % 1,225, % days % 808, % days % 712, % > 180 days % % Total 73, % 231,577, % 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000, days days days days days days Portfolio Strats Page 6 of 10

7 Report No: 1 Series Notes Note Details Series Class A B C D E Currency NZD NZD NZD NZD NZD ISIN NZLATD1001R5 NZLATD1002R3 NZLATD1003R1 NZLATD1004R9 NZLATD1005R6 Fitch Rating (Original) AAA AA A BBB BB Fitch Rating (Current) AAA AA A BBB BB Pool Factor (Original) Pool Factor (Current) Pay Frequency Monthly Monthly Monthly Monthly Monthly Next Distribution Date 22-Feb Feb Feb Feb Feb-19 Interest Basis BKBM1M BKBM1M BKBM1M BKBM1M BKBM1M Status Revolving Period Revolving Period Revolving Period Revolving Period Revolving Period First Distribution Date 22-Jan Jan Jan Jan Jan-19 Scheduled Start of Accumulation Period 22-Nov Nov Nov Nov Nov-20 Expected Redemption Date* 22-Nov Nov Nov Nov Nov-21 Final Redemption Date 22-Nov Nov Nov Nov Nov-30 Amortisation Type Soft Bullet Soft Bullet Soft Bullet Soft Bullet Soft Bullet * Subject to Extension Current Period Rates Class A Class B Class C Class D Class E Rate (1 Month BKBM) % % % % % Margin % % % % % All-in-Rate % % % % % Coupon Details Class A Class B Class C Class D Class E Interest Due 552, , , , , Interest Paid 552, , , , , Unpaid Interest Non-Rating Triggers (as at end of Collection Period) Minimum Transferor Interest Portfolio Yield Eligible Balance [A] Transferor Interest* [B] Available Originator VFN Excess Amount* [C] = [A]+[B] [D] Minimum Transferor Interest ** Trigger [C] < [D] Consequence of Trigger Breach 524, ,750, ,274, ,743, Series Pay Out Event * Average over 30 consecutive days * Includes Investor Defaults ** As % of Average over the previous 90 days ** Average over three periods excluding Cash Available for Investment and Credit Balances [A] Average Portfolio Yield * ** 9.84% [A] Eligible Balance 233,719, [B] Minimum Aggregate Principal [B] Average Expense Rate** 4.18% 230,660, Excess Spread [A] - [B]** 5.66% Trigger [A] < [B] Trigger [A] < [B] Consequence of Trigger Breach Series Pay Out Event Consequence of Trigger Breach Series Pay Out Event Partial Amortisation Event Cash Available for Investment in the Trustee Collection Account is greater than 10% as a percentage of Eligible Balance*: The Average Portfolio Yield** less the Average Expense Rate** is less than 3%: The consequences of any of these partial Amortisation Events occurring will be partial Amortisation, as defined in the transaction documents Trust * On this Determination Date and the five prior Determination Dates ** Same calculation as per Non-Ratings Triggers Series Notes Page 7 of 10

8 Series Cashflow Waterfalls Sources of Funds (Finance Charges) Series Sources of Funds (Principal Collections) Series Balance of the Series Finance Charge Ledger 1,315, Retained Principal Collections 0.00 Plus: Eligible Interchange Income 59, Less: Reallocated Principal Collections Draw 0.00 Plus: Bank Interest Plus: Shared Principal Collections Draw 0.00 Principal Funding and Excess Principal Funding Investment Proceeds 0.00 Plus: Principal Loss (Make-Up) 375, Step-Up Reserve Ledger Draw Amount and Release 0.00 Plus: Series Additional Principal Collections (Originator VFN) 0.00 Accumulation Reserve Investment Proceeds and Draw 0.00 Series Available Retained Principal Collections 375, Accumulation Reserve Excess Amount 0.00 Release of Accumulation Reserve 0.00 Series Net Qualifying Swap Receipt 0.00 Permitted Investments Proceeds 0.00 Originator VFN Series Reallocated Principal Collections 0.00 Series Reallocated Principal Collections 0.00 Originator VFN Excess Spread Allocation 0.00 Group One Series Excess Finance Charges 0.00 Series Available Funds 1,375, Application of Available Funds Series Application of Principal Collections Series Series Available Funds: 1,375, Available Retained Principal Collections 375, Income Unitholder 0.00 Revolving Period TRUE Investor Senior Trust Expenses 4, Shared Principal Collections 0.00 Investor Trust Manager Payment Amount 10, Trustee Acquisition Ledger 375, Investor Senior Servicing Fee 101, Series Qualifying Swap Amount 0.00 Controlled Accumulation Period Class A Monthly Distribution Amount & Subordinated Qualifying Swap Amount 552, Rapid Amortisation Period Class A Investor Default Amount & Charge-offs 275, Scheduled Amortisation Period Class B Investor Default Amount & Charge-offs 22, Class B Monthly Distribution Amount 59, Class A Monthly Principal Amount 0.00 Class C Investor Default Amount & Charge-offs 20, Class B Monthly Principal Amount 0.00 Class C Monthly Distribution Amount 62, Class C Monthly Principal Amount 0.00 Class D Investor Default Amount & Charge-offs 16, Class D Monthly Principal Amount 0.00 Class D Monthly Distribution Amount 61, Class E Monthly Principal Amount 0.00 Class E Investor Default Amount & Charge-offs 15, Principal Funding Ledger 0.00 Class E Monthly Distribution Amount Due 65, Rapid Amortisation Period Series Originator VFN Subordination Charge-Offs 24, Available Principal Funding Ledger 0.00 Accumulation Reserve Deposit 0.00 Step-Up Reserve Required Amount Deposit 0.00 Class A Principal Repayment 0.00 Series Investor Excess Spread 83, Class B Principal Repayment 0.00 Class C Principal Repayment 0.00 Class D Principal Repayment 0.00 Class E Principal Repayment 0.00 Series Bank Account Ledgers Finance Charge Collections Ledger Series Principal Funding Ledger Series Opening Balance Finance Charge Collections Ledger 0.00 O/B Principal Funding Ledger 0.00 Plus: Series Finance Charge Collections Deposit 1,315, Deposits from Available Retained Principal Collections 0.00 Less: Transfer to Series Cashflow Waterfall (1,315,776.37) Replacement Series Proceeds 0.00 Closing Balance Finance Charge Collections Ledger 0.00 Release Principal Funding Ledger 0.00 Required amount (if any) C/B Principal Funding Ledger 0.00 Principal Collections Ledger Series Accumulation Reserve Ledger Series Opening Balance Series Principal Collections Ledger 0.00 O/B Accumulation Reserve Ledger 0.00 Plus: Deposit from Principal Collections Ledger 0.00 Deposits from Available Funds 0.00 Less: Series Reallocated Principal Collections Draw 0.00 Accumulation Draw Amount 0.00 Less: Series Shared Principal Collections Draw 0.00 Accumulation Excess Release 0.00 Less: Application through Series Investor Waterfall 0.00 Release of Accumulation Reserve 0.00 Closing Balance Series Principal Collections Ledger 0.00 C/B Accumulation Reserve Ledger 0.00 Required amount (if any) Required Accumulation Amount 0.00 Accumulation excess (shortfall) 0.00 Series Notes Page 8 of 10

9 Series 2018-VFN Notes Report No: 1 Series 2018-VFN Cashflow Waterfalls Note Details Sources of Funds (Finance Charges) Series 2018-VFN Series 2018-VFN Series 2018-VFN Finance Charge Collections Ledger 98, Class N/A Plus: Eligible Interchange Income 4, Currency NZD Plus: Bank Interest 2.78 ISIN N/A Series 2018-VFN Net Qualifying Swap Receipt 0.00 Fitch Rating (Original) A Originator VFN Series Reallocated Principal Collections 0.00 Fitch Rating (Current) A Series 2018-VFN Reallocated Principal Collections 0.00 Pool Factor (Original) Originator VFN Series Excess Spread Allocation 0.00 Pool Factor (Current) Group One Series 2018-VFN Excess Finance Charges Pay Frequency Monthly Series 2018-VFN Available Funds 103, Next Distribution Date 22-Feb-19 Interest Basis BKBM1M Application of Available Funds Series 2018-VFN Status Revolving Period Series 2018-VFN Available Funds: 103, First Distribution Date 22-Jan-19 Expected Redemption Date* 22-Nov-21 Income Unitholder 0.00 Final Redemption Date 22-Nov VFN Senior Trust Expenses Amortisation Type Soft Bullet 2018-VFN Trust Manager Payment Amount VFN Senior Servicing Fee 7, VFN Qualifying Swap Amount 0.00 * Subject to Extension 2018-VFN Monthly Distribution Amount 61, Series 2018-VFN Undrawn Fee Paid 3, Current Period Rates Subordinated Qualifying Swap Amount 0.00 Rate (1 month BKBM) % 2018-VFN Investor Default Amount 26, Margin % 2018-VFN Investor Charge-Off 0.00 All-in-Rate % 2018-VFN Originator VFN Subordination Charge-Offs 3, VFN Excess Spread 0.00 Series 2018-VFN Bank Account Ledgers Sources of Funds (Principal Collections) Series 2018-VFN Finance Charge Collections Ledger Series 2018-VFN Retained Principal Collections 0.00 Balance 2018-VFN Finance Charge Collections Ledger 0.00 Less: Reallocated Principal Collections Draw 0.00 Plus: 2018-VFN Finance Charge Collections Deposit 98, Plus: Shared Principal Collections Draw 0.00 Less: Transfer to 2018-VFN Cashflow Waterfall (98,683.23) Plus: Principal Loss (Make-Up) 29, Balance 2018-VFN Finance Charge Collections Ledger 0.00 Plus: Series Additional Principal Collections 0.00 Series 2018-VFN Available Retained Principal Collections 29, Principal Collections Ledger Series 2018-VFN Balance Series 2018-VFN Principal Collections Ledger 0.00 Application of Principal Collections Series 2018-VFN Plus: Deposit from Principal Collections Ledger 0.00 Series 2018-VFN Available Retained Principal Collections 29, Less: 2018-VFN Reallocated Principal Collections Draw 0.00 Less: 2018-VFN Shared Principal Collections Draw 0.00 Revolving Period TRUE Less: Application through Series VFN waterfall 0.00 Allocated Shared Principal Collections (VFN) 0.00 Balance Series 2018-VFN Principal Collections Ledger 0.00 Transfer to Trustee Acquisition Ledger 29, Series 2018-VFN Rapid Amortisation Period Series 2018-VFN Scheduled Amortisation Period Series 2018-VFN Optional Amortisation Period TRUE Series 2018-VFN Monthly Principal Amount 0.00 Allocated Shared Principal Collections (VFN) 0.00 Transfer to Trustee Acquisition Ledger 0.00 Non-Rating Triggers (as at the end of the Collection Period) Minimum Transferor Interest Portfolio Yield Eligible Balance [A] Transferor Interest* 524, [A] Average Portfolio Yield * ** 9.84% [A] Eligible Balance 233,719, [B] Minimum Aggregate Principal [B] Available Originator VFN Excess Amount* [B] Average Expense Rate** 4.50% 1,750, ,660, [C] = [A]+[B] 2,274, Excess Spread [A] - [B]** 5.34% [D] Minimum Transferor Interest ** 1,743, Trigger [C] < [D] Trigger [A] < [B] Trigger [A] < [B] Consequence of Trigger Breach Series Pay Out Event Consequence of Trigger Breach Series Pay Out Event Consequence of Trigger Breach Series Pay Out Event * Average over 30 consecutive days * Includes Investor Defaults ** As % of Average over the previous 90 days excluding Cash Available for Investment and Credit Balances ** Average over three periods Partial Amortisation Event Cash Available for Investment in the Trustee Collection Account is greater than 10% as a percentage of Eligible Balance*: The Average Portfolio Yield** less the Average Expense Rate** is less than 3%: The consequences of any of these partial Amortisation Events occurring will be partial Amortisation, as defined in the transaction documents Trust * On this Determination Date and the five prior Determination Dates ** Same calculation as per Non-Ratings Triggers Series 2018-VFN Note Page 9 of 10

10 Originator VFN Notes Report No: 1 Note Details Current Period Rates Series Originator VFN Rate (BKBM1M) N/A Class N/A Fixed Rate % Currency NZD All-in-Rate % ISIN N/A Fitch / S&P / DBRS Rating (Original) Not Rated Originator VFN Components NZD Fitch / S&P / DBRS Rating (Current) Not Rated Series Subordination 13,900, Pool Factor (Original) VFN Subordination 1,740, Pool Factor (Current) Excess Amount 1,750, Pay Frequency Monthly Total 17,390, Next Distribution Date 22-Feb-19 Interest Basis Fixed Rate Coupon Details Status Revolving Period Note Size (at beginning of Interest Period) 17,410, First Distribution Date 22-Jan-19 Scheduled Start of Accumulation Period N/A Interest Due 200, Scheduled Redemption Date* 22-Nov-34 Interest Paid 11, Final Redemption Date 13-Dec-49 Unpaid Interest 189, Amortisation Type Soft Bullet Originator VFN Series Cashflow Waterfalls Sources of Funds (Finance Charges) Originator VFN Series Sources of Funds (Principal Collections) Originator VFN Series Balance Originator VFN Finance Charge Collections Ledger 114, Retained Principal Collections 0.00 Plus: Eligible Interchange Income 5, Plus: Shared Principal Collections Draw 0.00 Plus: Bank Interest 3.22 Plus: Principal Loss (Make-Up) 0.00 Originator VFN Series Net Qualifying Swap Receipts 0.00 Available Required Retained Principal Collections 0.00 Permitted Investment Proceeds 0.00 Originator VFN Series Reallocated Principal Collections 0.00 Group One Series Originator VFN Excess Finance Charges 0.00 Series 2018-VFN Available Funds 119, Application of Available Funds Originator VFN Series Application of Principal Collections Originator VFN Series Originator VFN Series Available Funds: 119, Originator VFN Available Retained Principal Collections 0.00 Income Unitholder 0.00 Revolving Period TRUE Originator VFN Senior Trust Expenses Allocated Shared Principal Collections (Originator) 0.00 Originator VFNTrust Manager Payment Transfer to Trustee Acquistion Ledger 0.00 Originator VFN Senior Servicing Fee 8, Originator VFN Qualifying Swap Amount 0.00 Originator VFN Series Rapid Amortisation Event Originator VFN Excess Amount Monthly Distribution 11, Originator VFN Series Optional Amortisation Event Default Amount Originator VFN Excess Amount 0.00 Originator VFN Excess Amount Charge-Off 0.00 Originator VFN Monthly Principal Amount 0.00 Investor Series Charge-Offs 0.00 Transfer to Trustee Acquisition Ledger 0.00 Originator VFN Subordination Charge-Offs 0.00 Transferor (Eligible) Charge-Offs 0.00 Supported Group One Finance Charge Shortfall Originator VFN Series Excess Spread 98, Originator VFN Series Bank Account Ledgers Finance Charge Collections Ledger Originator VFN Series Principal Collections Ledger Originator VFN Series Balance Originator VFN Finance Charge Collections Ledger 0.00 Balance Originator VFN Principal Collections Ledger 0.00 Plus: Originator VFN Finance Charge Collections Deposit 114, Plus: Deposit from Principal Collections Ledger 0.00 Less: Transfer to Originator VFN Series Cashflow Waterfall (114,538.33) Less: Originator VFN Reallocated Principal Collections 0.00 Balance Originator VFN Finance Charge Collections Ledger 0.00 Less: Transfer to Trustee Acquisition Ledger 0.00 Balance Series 2018-VFN Principal Collections Ledger 0.00 Originator VFN Note Page 10 of 10