CARDIFF AUTO RECEIVABLES SECURITISATION INVESTOR REPORT

CARDIFF AUTO RECEIVABLES SECURITISATION 2011-1 INVESTOR REPORT Monthly Reference Portfolio Report Report Date: 25/09/2012 DEAL OVERVIEW Deal Name: Cardiff Auto Receivables Securitisation 2011-1 (CARS) Cut Off Date: 09/02/2011 Issuer: Cardiff Auto Receivables Securitisation 2011-1 plc Final Maturity Date: 35 Great St Helen's Reporting Date: EC3A 6AP Reporting Period: 09/09/2017 09/08/2012 Monthly Servicer Name: Blackhorse Ltd Payment Date: St William's House Tresillian Terrace Cardiff Clean Up Call: CF10 5BH Trigger Events: Contact: Nathan Henshall 02921 386 261 25/09/2012 Corporate Services Provider: Structured Finance Management Limited 35 Great St Helen's EC3A 6AP COUNTERPARTY DETAILS Ratings Moody's Fitch ST LT ST LT Joint Lead Manager: Lloyds Bank Corporate Markets P-1 A2 F1 A 10 Gresham Street EC2V 7AE WestLB AG P-2 A3 F1 A- Herzogstrasse 1540217 Dusseldorf Germany Accounts Lloyds TSB Bank plc P-1 A2 F1 A GIC 25 Gresham Street Transaction Swap Collateral [if req'd] EC2V 7AE Collection Account Listing Agent: Maples and Calder 75 St Stephems Green Dublin 2 Ireland Principal Paying Agent: Deutsche Bank AG P-1 A2 F1+ A+ Global Tranasaction Bank 10 Bishops Square E1 6AO Servicer Blackhorse Ltd St William's House Tresillian Terrace Cardiff CF10 5BH Cash Manager Blackhorse Ltd St William's House Tresillian Terrace Cardiff CF10 5BH Interest Rate Swap Counterparty Blackhorse Ltd St William's House Tresillian Terrace Cardiff CF10 5BH Cross Currency Swap Counterparty: Lloyds TSB Bank plc P-1 A2 F1 A 25 Gresham Street EC2V 7AE Interest Rate Swap Guarantor Lloyds TSB Bank plc P-1 A2 F1 A 25 Gresham Street EC2V 7AE Servicer Guarantor Lloyds TSB Bank plc P-1 A2 F1 A 25 Gresham Street EC2V 7AE Trustee: Deutsche Bank AG Global Tranasaction Bank 10 Bishops Square E1 6AO Rating Agencies: Moodys Investors Services One Canada Square Canary Wharf E14 5FA FITCH Ratings Limited 30 th Colonnade E14 5GN

CARDIFF AUTO RECEIVABLES SECURITISATION 2011-1 INVESTOR REPORT Monthly Reference Portfolio Report Report Date: 25/09/2012 Part I. tes Information Bond report Class A1 Class A2 Class U ISIN Code XS0580794054 XS0580794567 N/A Ratings (Fitch / Moody's / S&P) AAA/Aaa AAA/Aaa N/A Balance 250,000,000 300,000,000 177,749,000 Reference Rate 1m GBP Libor 1m Euribor 1m GBP Libor Base Interest Rate 0.53563% 0.1240% 0.53563% Spread per Annum 1.1000% 1.1000% 2.00000% Total Interest Rate 1.63563% 1.2240% 2.53563% Balance Before Payment 14,959,000.55 17,950,799.69 177,749,000 Principal Redemption 8,035,353.54 9,642,424.17 0.00 Balance After Payment 6,923,647.01 8,308,375.52 177,749,000 Interest Payment 18,769.50 17,089.16 345,746.84 Confirmation of net economic interest held by originator The Seller confirms that, as at the date of this report, it continues to hold the net economic interest in the securitisation as disclosed in the Prospectus, in accordance with paragraph 1(d) of Article 122a of Directive 2006/48/EC (as amended) (which does not take into account any implementing rules of the CRD in a relevant jurisdiction). Part II. Reference Portfolio Summary Opening principal balance 208,020,033 Available Principal Receipts 16,260,341 Closing outstanding principal balance 191,759,691 Available Revenue Receipts 15,036,997 Part III. Reference Portfolio Characteristics Key Characteristics of the Pool Initial Portfolio at Cutoff date Number of loans 119,783 53,886 50,779 Outstanding principal balance ( ) 683,649,055 208,020,033 191,759,691 Weighted Average Rate (%p.a.) 11.95% 12.12% 12.13% Average Receivable Balance ( ) 5,707 3,860 3,776 Maximum Receivable Balance ( ) 49,080 31,427 30,679 Minimum Receivable Balance ( ) 500 274 297 Weighted Average Remaining Term of the Portfolio (m) 35.47 24.09 23.46 Maximum Remaining Term of the Portfolio (m) 56 38 37 Minimum Remaining Term of the Portfolio (m) 2 1 1 Weighted Average Seasoning of the Portfolio (m) 16.66 31.34 32.18 Largest regional concentration in portfolio (%) 18.50% 19.12% 19.11% 1m Annualised Prepayment rate (%) 9.96% 8.37% Portfolio Percentages of Outstanding Principal Balance Pool at Cutoff date HP New 17.32% 17.29% 17.48% HP Used 0-3 years 61.22% 61.23% 60.90% HP Used 3-5 years 19.93% 19.97% 19.62% HP Used 5+ years 1.53% 1.51% 1.99% Portfolio Delinquency Schedule Number of Contracts Number of Contracts (%) Outstanding Principal Balance Outstanding Principal Balance (%) (including delinquencies up to 30 days) 49,969 98.40% 188,131,106 98.11% 31-60 Days Delinquent 357 0.70% 1,553,600 0.81% 61-90 Days Delinquent 194 0.38% 882,392 0.46% 90-120 Days Delinquent 120 0.24% 511,821 0.27% 120-180 Days Delinquent 139 0.27% 680,772 0.36% Total Delinquent 810 1.60% 3,628,585 1.89% Total Receivables 50,779 100% 191,759,691 100% Defaulted (New) 10 0.66% 16,229 0.29% Early Settlement (New) 202 13.41% 859,191 15.29% Voluntary Terminated (New) 17 1.13% 74,479 1.33% Defaulted (Used) 88 5.84% 152,118 2.71% Early Settlement (Used) 1,078 71.58% 3,908,197 69.57% Voluntary Terminated (Used) 111 7.37% 607,481 10.81% Total Ended Contracts 1,506 100% 5,617,694 100% Delinquency Profile Number of Contracts Number of Contracts (%) Outstanding Principal Balance Outstanding Principal Balance (%) HP New 242 0.48% 1,303,041 14.84% HP Used 0-3 years 1,181 2.33% 5,282,681 60.18% HP Used 3-5 years 536 1.06% 2,077,779 23.67% HP Used 5+ years 56 0.11% 115,334 1.31% Total Delinquent 2,015 3.97% 8,778,836 10 Default Statistics Defaulted Principal Balance Repurchased Balance Subsequent Recoveries Rebate amount/permitted Withdrawal Net Loss During Monthly Period 168,346 67,339 0 0 0 Cumulative Balance Since Closing 4,039,331 1,615,732 0 0 0 Cumulative Balance Since Closing (closed cases)* 1,805,593 722,237 1,256,715-440,066 643,290 Voluntary Termination Statistics VT Principal Balance Repurchased Balance Subsequent Recoveries Rebate amount/permitted Withdrawal Net Loss During Monthly Period 681,960 477,372 0 0 0 Cumulative Balance Since Closing 10,257,908 7,180,535 0 0 0 Cumulative Balance Since Closing (closed cases)* 8,226,371 5,758,460 5,522,251-3,361,203 893,292. * The net loss, per agreement, is calculable when the underlying loan agreement has closed. Part IV. Credit Enhancement Portfolio Percentages of tional Outstanding Value Class A tes 7.31% Class U tes 92.69% Reserve Fund 6.06% Part V. Collections & Priority of Payments Waterfall Revenue Receipts Plus / Value Revenue Receipts 2,779,395 Interest Income Plus 8,724 Amounts received under any swap agreement Plus 82,134 Amounts standing to the credit of the Reserve Fund Ledger Plus 11,622,033 Available Principal Receipts which are applied to the make up any Revenue Deficiency and Plus Any unused proceeds from Tranche A of the subordinated loan Plus Any surplus following repurchase of final receivables related to the exercise of call options Plus Any Revenue Receipts that have not been applied on the immediately preceding IPD Plus Any repurchased Principal Plus 544,710 Total Available Revenue Receipts 15,036,997 Application of Available Revenue Receipts Plus / Value Total Available Revenue Receipts 15,036,997 Amounts due to Security Trustee 2,250 Amounts due to te Trustee Amounts due to Agent Bank, Paying Agent Amounts due to Cash Manager 3,995 Amounts due to Servicer 7,990 Amounts due to Corporate Servicer Provider Amounts due to the Account Bank Amounts due to Auditors and other professional advisers Amounts due for Administrator Incentive Recovery Fee Amounts due to 3rd party creditors Payments due under Interest Rate Swap Agreement 460,021 Class A1 te Interest 18,770 Currency Swap agreement to pay Class A2 note interest 27,681 Replenish Reserve Fund to the Reserve Fund Required Amount 11,622,033 Replenish Principal Deficiency Ledger 850,306 Class U note interest 345,747 Subordinated swap amounts Issuer Profit 416 Interest due and payable to the subordinated loan provider 3,578 Repayment of Subordinated Loan Principal Deferred Purchase Price 1,694,210 Total 0

Available Principal Receipts Plus / Value Principal Receipts 9,870,703 Unscheduled Principal Receipts Plus 5,441,835 Amounts credited from Principal Deficiency Ledger Plus 850,306 Amounts released from Reserve Fund on Final Class A Interest Payment Date Plus 0 Principal Receipts not applied on immediately preceding IPD Plus 97,497 Total Available Principal Receipts 16,260,341 Application of Available Principal Receipts Plus / Value Available principal receipts 16,260,341 Revenue Deficiency in respect of senior expenses and the Class A tes 0 Class A1 Principal Amount 8,035,354 Sterling Equivalent of Class A2 Principal Amount 8,224,988 Class U Principal Amount (after repayment of Class A tes) 0 Surplus Available Principal Receipts to be applied as Available Revenue Receipts 0 Total General Reserve Plus / Value Reserve Fund Required Amount 11,622,033 Reserve Fund Opening Balance 11,622,033 Reserve Fund Drawings 0 Balance at end of period 11,622,033 Principal Deficiency Ledger Plus / Value Opening Balance 0 Debit Plus 850,306 Credit 850,306 Closing Balance 0 Part V. Counterparty Ratings / Trigger Events Perfection of Title Events Unremedied breach of representation or warranty by Seller Payment default by the Seller Insolvency Event occurs in relation to Seller Servicer Default Lloyds TSB Bank ceases to have a rating of at least Baa2 Yes / Collection Account Bank Short Term Rating (Fitch / Moody's) F1 / P-1 Long Term Rating (Fitch / Moody's) Short Term Rating Requirement (Fitch / Moody's) F1 / P-1 Long Term Rating Requirement (Fitch / Moody's)* A / A1 Requirement met? Yes Account Bank and GIC Provider Short Term Rating (Fitch / Moody's) F1 / P-1 Long Term Rating (Fitch / Moody's) Short Term Rating Requirement (Fitch / Moody's) F1 / P-1 Long Term Rating Requirement (Fitch / Moody's)* A / A1 Requirement met? Yes Interest Rate Swap Guarantor Short Term Rating (Fitch / Moody's) F1 / P-1 Long Term Rating (Fitch / Moody's) Short Term Rating Requirement (Fitch / Moody's) F1 / P-1 Long Term Rating Requirement (Fitch / Moody's)* Requirement met? Yes Servicer Guarantor Short Term Rating (Fitch / Moody's) F1 / P-1 Long Term Rating (Fitch / Moody's) Short Term Rating Requirement (Fitch / Moody's) NA Long Term Rating Requirement (Fitch / Moody's) BBB- / Baa3 Requirement met? Yes Currency Swap Counterparty Short Term Rating (Fitch / Moody's) F1 / P-1 Long Term Rating (Fitch / Moody's) Short Term Rating Requirement (Fitch / Moody's) F1 / P-1 Long Term Rating Requirement (Fitch / Moody's)* Requirement met? Yes *The Fitch requirements for these long term ratings rise to A+ if the Counterparty in question is on rating watch negative. Part VI. Termination Events etc Servicer Termination Event occurred? Potential Servicer Termination Event occurred? Cash Manager Termination Event occurred? Potential Cash Manager Termination Event occurred? Change of Control Event occurred? Event of Default occurred? Potential Event of Default occurred?

CARDIFF AUTO RECEIVABLES SECURITISATION 2011-1 INVESTOR REPORT Monthly Reference Portfolio Report Table I. Receivables - Finance Type Finance Type CARS NEW 8,029 15.81% 33,153,823 17.29% 18,604 15.53% 119,326,312 17.45% CARS USED UP TO 3YRS 29,384 57.87% 117,416,649 61.23% 69,032 57.63% 416,253,902 60.89% CARS USED UP TO 5YRS 12,016 23.66% 38,287,818 19.97% 27,973 23.35% 133,785,875 19.57% CARS USED OVER 5YRS 1,350 2.66% 2,901,402 1.51% 4,174 3.48% 14,282,966 2.09% Finance Type 500,000,000 400,000,000 300,000,000 200,000,000 100,000,000 0 CARS NEW CARS USED UP CARS USED UP CARS USED OVER TO 3YRS TO 5YRS 5YRS Table II. Receivables - Outstanding Balance Outstanding Principal LESS THAN 2,000.00 15,871 31.26% 17,598,038 9.18% 18,649 15.57% 24,226,727 3.54% 2,000.00-3,999.99 15,958 31.43% 47,125,116 24.58% 30,508 25.47% 91,634,996 13.40% 4,000.00-5,999.99 9,919 19.53% 48,508,840 25.30% 26,839 22.41% 132,882,054 19.44% 6,000.00-7,999.99 4,843 9.54% 33,250,357 17.34% 17,707 14.78% 122,507,767 17.92% 8,000.00-9,999.99 2,180 4.29% 19,311,281 10.07% 10,941 9.13% 97,501,322 14.26% 10,000.00-11,999.99 1,030 2.03% 11,199,839 5.84% 6,139 5.13% 66,945,015 9.79% 12,000.00-13,999.99 478 0.94% 6,161,079 3.21% 3,391 2.83% 43,744,292 6.40% 14,000.00-15,999.99 248 0.49% 3,707,863 1.93% 2,067 1.73% 30,807,444 4.51% 16,000.00-17,999.99 109 0.21% 1,845,486 0.96% 1,295 1.08% 21,918,454 3.21% 18,000.00-19,999.99 70 0.14% 1,336,369 0.70% 765 0.64% 14,493,986 2.12% 20,000.00-21,999.99 32 0.06% 666,347 0.35% 534 0.45% 11,187,050 1.64% 22,000.00-23,999.99 15 0.03% 344,418 0.18% 303 0.25% 6,931,818 1.01% 24,000.00-25,999.99 9 0.02% 224,101 0.12% 207 0.17% 5,153,688 0.75% 26,000.00-27,999.99 7 0.01% 185,659 0.10% 143 0.12% 3,851,343 0.56% 28,000.00-29,999.99 8 0.02% 233,767 0.12% 86 0.07% 2,492,869 0.36% 30,000.00-31,999.99 2 61,132 0.03% 59 0.05% 1,820,322 0.27% 32,000.00-33,999.99 0 0 47 0.04% 1,545,703 0.23% 34,000.00-35,999.99 0 0 33 0.03% 1,151,309 0.17% 36,000.00-37,999.99 0 0 20 0.02% 741,888 0.11% 38,000.00-39,999.99 0 0 13 0.01% 504,121 0.07% 40,000.00 AND ABOVE 0 0 37 0.03% 1,606,886 0.24% Outstanding Principal 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 18,000.00-19,999.99 22,000.00-23,999.99 26,000.00-27,999.99 30,000.00-31,999.99 34,000.00-35,999.99 38,000.00-39,999.99 Table III. Receivables - Seasoning Seasoning 0-12 0 0 37,590 31.38% 289,496,742 42.35% 13-24 2,212 4.36% 12,075,310 6.30% 46,910 39.16% 275,619,607 40.32% 25-36 30,854 60.76% 134,345,348 70.06% 22,298 18.62% 85,179,561 12.46% 37-48 13,337 26.26% 39,417,929 20.56% 10,408 8.69% 29,547,208 4.32% 49-60 4,376 8.62% 5,921,104 3.09% 2,577 2.15% 3,805,938 0.56% 8 Seasoning 6 4 2 0-12 13-24 25-36 37-48 49-60

Table IV. Receivables - Remaining Term Remaining Term 0-12 19,183 37.78% 30,290,732 15.80% 19,415 16.21% 34,362,407 5.03% 13-24 16,637 32.76% 67,197,780 35.04% 29,791 24.87% 115,462,489 16.89% 25-36 14,954 29.45% 94,221,281 49.14% 28,779 24.03% 172,070,120 25.17% 37-48 5 0.01% 49,899 0.03% 27,573 23.02% 223,397,916 32.68% 49-60 0 0 14,225 11.88% 138,356,123 20.24% Remaining Term 5 4 3 2 1 0-12 13-24 25-36 37-48 49-60 Table V. Receivables - Geographic Distribution Geographic Distribution GREATER LONDON 3,713 7.31% 15,008,225 7.83% 8,762 7.31% 53,386,599 9.14% SOUTH EAST 6,896 13.58% 27,234,130 14.20% 16,624 13.88% 99,181,477 14.30% SOUTH WEST 3,412 6.72% 12,395,333 6.46% 8,038 6.71% 46,084,638 6.64% EAST ANGLIA 1,864 3.67% 6,573,419 3.43% 4,798 4.01% 25,766,175 3.71% EAST MIDLANDS 2,792 5.50% 11,447,077 5.97% 6,639 5.54% 40,465,537 5.83% WEST MIDLANDS 4,487 8.84% 17,082,022 8.91% 10,633 8.88% 60,787,501 8.76% NORTHERN 3,277 6.45% 12,240,003 6.38% 8,079 6.74% 44,884,297 6.47% NORTH WEST 6,567 12.93% 24,109,927 12.57% 14,824 12.38% 82,071,648 11.83% YORKSHIRE & HUMBERSIDE 5,294 10.43% 19,017,233 9.92% 12,874 10.75% 70,453,286 10.16% SCOTLAND 9,579 18.86% 36,644,022 19.11% 22,042 18.40% 126,474,937 18.23% WALES 2,886 5.68% 9,958,040 5.19% 6,470 5.40% 34,092,961 4.92% OTHER 12 0.02% 50,260 0.03% 0 0 Geographic Distribution Geographic Distribution GREATER LONDON SOUTH WEST EAST MIDLANDS NORTHERN YORKSHIRE & HUMBERSIDE WALES SOUTH EAST EAST ANGLIA WEST MIDLANDS NORTH WEST SCOTLAND OTHER GREATER LONDON SOUTH WEST EAST MIDLANDS NORTHERN YORKSHIRE & HUMBERSIDE WALES SOUTH EAST EAST ANGLIA WEST MIDLANDS NORTH WEST SCOTLAND OTHER Table VI. Receivables - Vehicle Make (Top 10 Concetration) Vehicle Make VAUXHALL 10,215 20.12% 34,451,300 17.97% 22,754 19.00% 115,597,389 16.67% FORD 9,074 17.87% 31,997,089 16.69% 20,859 17.41% 109,117,095 15.73% LAND ROVER 1,621 3.19% 11,627,411 6.06% 4,075 3.40% 45,093,491 6.50% MERCEDES BENZ 2,110 4.16% 11,348,061 5.92% 5,809 4.85% 45,028,892 6.49% VOLKSWAGEN 2,827 5.57% 10,243,249 5.34% 6,862 5.73% 38,106,172 5.49% BMW 1,662 3.27% 8,214,511 4.28% 4,182 3.49% 31,891,857 4.60% PEUGEOT 2,675 5.27% 8,310,297 4.33% 6,422 5.36% 28,955,495 4.17% RENAULT 2,868 5.65% 8,165,179 4.26% 7,074 5.91% 29,784,889 4.29% AUDI 1,234 2.43% 6,287,622 3.28% 3,021 2.52% 22,986,689 3.31% NISSAN 1,584 3.12% 5,553,746 2.90% 3,653 3.05% 19,250,704 2.78% Total 35,870 70.64% 136,198,464 71.03% 84,711 70.72% 485,812,673 70.02% Vehicle Make (Top 10 concentration) Vehicle Make (Top 10 concentration) VAUXHALL LAND ROVER VOLKSWAGEN PEUGEOT AUDI FORD MERCEDES BENZ BMW RENAULT NISSAN VAUXHALL LAND ROVER VOLKSWAGEN PEUGEOT AUDI FORD MERCEDES BENZ BMW RENAULT NISSAN

Table VII. Receivables - Yield Distribution Yield Distribution - 0.99% 8 0.02% 20,733 0.01% 15 0.01% 77,104 0.01% 1.00% - 1.99% 28 0.06% 79,860 0.04% 62 0.05% 307,382 0.04% 2.00% - 2.99% 32 0.06% 85,475 0.04% 61 0.05% 260,705 0.04% 3.00% - 3.99% 21 0.04% 67,916 0.04% 53 0.04% 224,025 0.03% 4.00% - 4.99% 13 0.03% 43,660 0.02% 49 0.04% 317,918 0.05% 5.00% - 5.99% 31 0.06% 130,777 0.07% 218 0.18% 2,147,072 0.31% 6.00% - 6.99% 371 0.73% 864,598 0.45% 1,962 1.64% 9,447,690 1.38% 7.00% - 7.99% 1,027 2.02% 3,548,220 1.85% 4,329 3.61% 23,565,371 3.45% 8.00% - 8.99% 2,499 4.92% 10,929,001 5.70% 7,242 6.05% 48,817,657 7.14% 9.00% - 9.99% 4,835 9.52% 22,716,747 11.85% 11,504 9.60% 83,068,769 12.15% 1-10.99% 5,141 10.12% 22,400,324 11.68% 11,735 9.80% 78,918,737 11.54% 11.00% - 11.99% 9,215 18.15% 39,233,581 20.46% 19,527 16.30% 127,645,152 18.67% 12.00% - 12.99% 7,942 15.64% 31,440,473 16.40% 16,889 14.10% 99,974,007 14.62% 13.00% - 13.99% 6,569 12.94% 21,350,305 11.13% 14,079 11.75% 71,583,641 10.47% 14.00% - 14.99% 5,136 10.11% 16,894,830 8.81% 11,269 9.41% 55,380,498 8.10% 15.00% - 15.99% 2,881 5.67% 8,354,218 4.36% 7,101 5.93% 31,072,646 4.55% 16.00% - 16.99% 2,033 4.00% 5,699,806 2.97% 4,884 4.08% 20,169,865 2.95% 17.00% - 17.99% 1,300 2.56% 3,748,346 1.95% 3,262 2.72% 13,372,645 1.96% 18.00% - 18.99% 737 1.45% 1,831,111 0.95% 2,053 1.71% 7,335,398 1.07% 19.00% - 19.99% 392 0.77% 910,189 0.47% 1,241 1.04% 3,768,955 0.55% 2-20.99% 204 0.40% 487,537 0.25% 755 0.63% 2,196,978 0.32% 21.00% - 21.99% 115 0.23% 249,914 0.13% 491 0.41% 1,334,589 0.20% 22.00% - 22.99% 85 0.17% 269,981 0.14% 345 0.29% 1,010,405 0.15% 23.00% - 23.99% 65 0.13% 176,469 0.09% 223 0.19% 599,130 0.09% 24.00% - 24.99% 54 0.11% 133,733 0.07% 175 0.15% 475,010 0.07% 25.00% - 25.99% 17 0.03% 41,533 0.02% 104 0.09% 237,826 0.03% 26.00% - 26.99% 17 0.03% 32,499 0.02% 63 0.05% 177,685 0.03% 27.00% - 27.99% 5 0.01% 10,886 0.01% 37 0.03% 79,616 0.01% 28.00% - 28.99% 3 0.01% 3,253 25 0.02% 43,820 0.01% 29.00% - 29.99% 3 0.01% 3,718 12 0.01% 18,788 3-30.99% 0 0 7 0.01% 9,073 31.00% - 31.99% 0 0 3 3,799 32.00% - 32.99% 0 0 3 3,254 33.00% - 33.99% 0 0 2 1,634 34.00% - 34.99% 0 0 1 746 35.00% - 35.99% 0 0 1 648 36.00% - 36.99% 0 0 0 0 37.00% - 37.99% 0 0 1 819 38.00% - 38.99% 0 0 0 0 39.00% - 39.99% 0 0 0 0 40% AND ABOVE 0 0 0 0 Yield 25.00% 2 15.00% 1 5.00% Yield Table VIII. Receivables - Vintage Vintage 2005 0 0 0 0 2006 0 0 2,491 2.08% 3,608,522 0.53% 2007 1,417 2.79% 718,044 0.37% 10,305 8.60% 29,098,011 4.26% 2008 6,032 11.88% 11,330,612 5.91% 21,959 18.33% 83,494,891 12.21% 2009 20,460 40.29% 70,209,979 36.61% 46,596 38.90% 272,306,490 39.83% 2010 22,870 45.04% 109,501,056 57.10% 38,432 32.08% 295,141,140 43.17% Vintage 300,000,000 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 0 2005 2006 2007 2008 2009 2010

Table IX. Receivables - Major Dealer Group (Top 10 Concentration) Dealer Group ARNOLD CLARK AUTOMOBILES LTD 4,549 8.96% 15,110,987 7.88% 10,998 9.18% 52,458,190 7.67% SYNTER GROUP PLC 1,156 2.28% 7,618,323 3.97% 2,472 2.06% 25,803,448 3.77% MOTORPOINT OF DERBY LTD 2,180 4.29% 7,155,584 3.73% 5,212 4.35% 26,711,340 3.91% PETER VARDY (PERTH) LTD 1,516 2.99% 6,216,951 3.24% 2,880 2.40% 18,756,861 2.74% BRISTOL STREET MOTORS 1,467 2.89% 5,513,683 2.88% 3,602 3.01% 20,252,913 2.96% THE CAR PEOPLE LTD 1,434 2.82% 4,667,743 2.43% 2,942 2.46% 14,552,949 2.13% PENTAGON VAUXHALL 1,059 2.09% 4,352,370 2.27% 2,084 1.74% 13,194,958 1.93% CAMBRIA 1,065 2.10% 3,695,095 1.93% 2,124 1.77% 12,027,886 1.76% PARKS OF HAMILTON TOWNHEAD 922 1.82% 3,707,747 1.93% 0 0 MANN ISLAND FINANCE LTD 570 1.12% 3,526,997 1.84% 1,296 1.08% 11,960,081 1.75% CAR GIANT 0 0 2,597 2.17% 11,759,203 1.72% Total 15,918 31.35% 61,565,480 32.11% 36,207 30.23% 207,477,828 30.35% Dealer Group (Top 10 Concentration) 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% ARNOLD CLARK AUTOMOBILES LTD MOTORPOINT OF DERBY LTD BRISTOL STREET MOTORS PENTAGON VAUXHALL PARKS OF HAMILTON TOWNHEAD CAR GIANT Table X. Obligor Concentration (Top 10 Concetration) Obligor Concentration Value of Contracts % by Value 1 30,679 0.02% 2 30,454 0.02% 3 29,962 0.02% 4 29,937 0.02% 5 29,282 0.02% 6 29,143 0.02% 7 28,940 0.02% 8 28,907 0.02% 9 28,895 0.02% 10 28,702 0.01% Total 294,900 0.15% Table XI Receivables - Principal Outstanding Balance LESS THAN 2,000.00 104 0.20% 58,282 0.03% 611 0.51% 644,570.29 0.09% 2,000.00-3,999.99 3,070 6.05% 3,255,714 1.70% 11,357 9.48% 21,309,286.86 3.12% 4,000.00-5,999.99 10,220 20.13% 19,128,648 9.98% 25,778 21.52% 79,515,037.33 11.63% 6,000.00-7,999.99 11,942 23.52% 32,941,478 17.18% 26,211 21.88% 115,917,849.70 16.96% 8,000.00-9,999.99 8,506 16.75% 31,318,200 16.33% 18,484 15.43% 106,870,705.99 15.63% 10,000.00-11,999.99 6,265 12.34% 28,386,671 14.80% 13,882 11.59% 97,310,671.41 14.23% 12,000.00-13,999.99 3,673 7.23% 20,129,492 10.50% 7,877 6.58% 66,434,787.71 9.72% 14,000.00-15,999.99 2,411 4.75% 15,216,907 7.94% 5,297 4.42% 51,384,059.65 7.52% 16,000.00-17,999.99 1,399 2.76% 10,133,040 5.28% 3,038 2.54% 33,809,456.31 4.95% 18,000.00-19,999.99 918 1.81% 7,503,571 3.91% 2,068 1.73% 25,443,490.20 3.72% 20,000.00-21,999.99 767 1.51% 6,545,094 3.41% 1817 1.52% 23,068,330.15 3.37% 22,000.00-23,999.99 422 0.83% 4,012,219 2.09% 910 0.76% 13,520,473.22 1.98% 24,000.00-25,999.99 413 0.81% 4,273,091 2.23% 933 0.78% 15,008,554.84 2.20% 26,000.00-27,999.99 172 0.34% 1,978,967 1.03% 351 0.29% 6,598,715.89 0.97% 28,000.00-29,999.99 119 0.23% 1,499,002 0.78% 237 0.20% 4,818,407.93 0.70% 30,000.00-31,999.99 117 0.23% 1,492,336 0.78% 281 0.23% 5,583,986.27 0.82% 32,000.00-33,999.99 58 0.11% 797,452 0.42% 124 0.10% 2,675,891.99 0.39% 34,000.00-35,999.99 51 0.10% 649,155 0.34% 127 0.11% 2,860,392.64 0.42% 36,000.00-37,999.99 29 0.06% 395,599 0.21% 73 0.06% 1,705,833.22 0.25% 38,000.00-39,999.99 26 0.05% 397,685 0.21% 60 0.05% 1,505,036.00 0.22% 40,000.00 AND ABOVE 97 0.19% 1,647,089 0.86% 267 0.22% 7,663,516.94 1.12% 30,000,000 Outstanding Balance 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 18,000.00-19,999.99 22,000.00-23,999.99 26,000.00-27,999.99 30,000.00-31,999.99 34,000.00-35,999.99 38,000.00-39,999.99

Table XII. Receivables - Term at Origination Remaining Term 0-12 0 0 41 0.03% 82,483 0.01% 13-24 9 0.02% 0 6,222 5.19% 17,737,323 2.59% 25-36 8,154 16.06% 12,973,312 6.77% 27,749 23.17% 106,555,208 15.59% 37-48 13,578 26.74% 40,298,628 21.02% 30,066 25.10% 158,639,755 23.20% 49-60 29,038 57.19% 138,487,751 72.22% 55,705 46.50% 400,634,287 58.60% Remaining Term 8 6 4 2 0-12 13-24 25-36 37-48 49-60 Table XIII Receivables - Delinquency Experience. of Contracts % by. Value of Contracts (Mn) % by Value. of Contracts % by. Value of Contracts % by Value 48,764 96.03% 182,980,855 95.42% 119,783 10 683,649,055 10 Deliquent 2,015 3.97% 8,778,836 4.58% 0 0 Total 50,779 100% 191,759,691 100% 119,783 100% 683,649,055 10 Deliquency Experience Deliquent Table XIV. Receivables - Delinquency Experience All Vehicles DELINQUENT 1-30 DAYS 1,205 14.77% 5,150,251 35.03% 1,258 15.77% 5,582,381 37.48% DELINQUENT 31-60 DAYS 357 4.38% 1,553,600 10.57% 342 4.29% 1,491,900 10.02% DELINQUENT 61-90 DAYS 194 2.38% 882,392 6.00% 197 2.47% 898,505 6.03% DELINQUENT 90-120 DAYS 120 1.47% 511,821 3.48% 129 1.62% 608,191 4.08% DELINQUENT 120-150 DAYS 90 1.10% 501,409 3.41% 87 1.09% 463,431 3.11% DELINQUENT 151-180 DAYS 49 0.60% 179,363 1.22% 47 0.59% 158,771 1.07% DEFAULTED 4,199 51.48% 2,118,736 14.41% 4,101 51.42% 2,108,217 14.15% VOLUNTARY TERMINATED 1,942 23.81% 3,804,353 25.88% 1,814 22.75% 3,584,332 24.06% Total Contracts / Principal Balance 8,156 100% 14,701,926 100% 7,975 100% 14,895,728 100% New Cars DELINQUENT 1-30 DAYS 155 14.30% 830,065 37.59% 157 14.87% 886,577 39.83% DELINQUENT 31-60 DAYS 38 3.51% 182,943 8.28% 42 3.98% 181,912 8.17% DELINQUENT 61-90 DAYS 21 1.94% 131,550 5.96% 18 1.70% 114,285 5.13% DELINQUENT 90-120 DAYS 13 1.20% 68,618 3.11% 11 1.04% 47,957 2.15% DELINQUENT 120-150 DAYS 11 1.01% 78,195 3.54% 12 1.14% 90,808 4.08% DELINQUENT 151-180 DAYS 4 0.37% 11,670 0.53% 1 0.09% 817 0.04% DEFAULTED 561 51.75% 352,397 15.96% 551 52.18% 375,244 16.86% VOLUNTARY TERMINATED 281 25.92% 552,789 25.03% 264 25.00% 528,372 23.74% Total Contracts / Principal Balance 1,084 100% 2,208,227 100% 1,056 100% 2,225,972 100% Used Cars - up to 3 yrs DELINQUENT 1-30 DAYS 703 15.74% 3,070,668 34.12% 739 16.92% 3,385,778 36.91% DELINQUENT 31-60 DAYS 199 4.45% 939,590 10.44% 198 4.53% 918,859 10.02% DELINQUENT 61-90 DAYS 121 2.71% 538,677 5.99% 122 2.79% 566,462 6.18% DELINQUENT 90-120 DAYS 76 1.70% 330,247 3.67% 78 1.79% 410,335 4.47% DELINQUENT 120-150 DAYS 53 1.19% 300,109 3.33% 53 1.21% 258,133 2.81% DELINQUENT 151-180 DAYS 29 0.65% 103,391 1.15% 29 0.66% 108,579 1.18% DEFAULTED 2121 47.48% 1,291,192 14.35% 2,063 47.24% 1,280,328 13.96% VOLUNTARY TERMINATED 1165 26.08% 2,426,227 26.96% 1,085 24.85% 2,244,950 24.47% Total Contracts / Principal Balance 4,467 100% 9,000,101 100% 4,367 100% 9,173,425 100% Used Cars - up to 5 yrs DELINQUENT 1-30 DAYS 311 13.93% 1,193,750 36.46% 325 14.92% 1,247,120 38.13% DELINQUENT 31-60 DAYS 112 5.02% 411,282 12.56% 91 4.18% 363,579 11.12% DELINQUENT 61-90 DAYS 48 2.15% 198,130 6.05% 53 2.43% 204,087 6.24% DELINQUENT 90-120 DAYS 29 1.30% 102,813 3.14% 35 1.61% 130,145 3.98% DELINQUENT 120-150 DAYS 21 0.94% 107,504 3.28% 19 0.87% 106,471 3.26% DELINQUENT 151-180 DAYS 15 0.67% 64,302 1.96% 16 0.73% 49,375 1.51% DEFAULTED 1,246 55.80% 433,189 13.23% 1,218 55.90% 414,045 12.66% VOLUNTARY TERMINATED 451 20.20% 763,160 23.31% 422 19.37% 755,775 23.11% Total Contracts / Principal Balance 2,233 100% 3,274,128 100% 2,179 100% 3,270,597 100% Used Cars > 5 yrs. of Contracts %by. Value of Contracts %byvalue. of Contracts %by. Value of Contracts %byvalue DELINQUENT 1-30 DAYS 36 9.68% 55,768 25.41% 37 9.92% 62,906 27.87% DELINQUENT 31-60 DAYS 8 2.15% 19,785 9.01% 11 2.95% 27,551 12.20% DELINQUENT 61-90 DAYS 4 1.08% 14,036 6.40% 4 1.07% 13,670 6.06% DELINQUENT 90-120 DAYS 2 0.54% 10,144 4.62% 5 1.34% 19,754 8.75% DELINQUENT 120-150 DAYS 5 1.34% 15,601 7.11% 3 0.80% 8,018 3.55% DELINQUENT 151-180 DAYS 1 0.27% 0 1 0.27% 0 DEFAULTED 271 72.85% 41,959 19.12% 269 72.12% 38,600 17.10% VOLUNTARY TERMINATED 45 12.10% 62,177 28.33% 43 11.53% 55,235 24.47% Total Contracts / Principal Balance 372 100% 219,470 100% 373 100% 225,734 100% Total Used Cars DELINQUENT 1-30 DAYS 1,050 14.85% 4,320,186 34.58% 1,101 15.91% 4,695,804 37.06% DELINQUENT 31-60 DAYS 319 4.51% 1,370,657 10.97% 300 4.34% 1,309,989 10.34% DELINQUENT 61-90 DAYS 173 2.45% 750,842 6.01% 179 2.59% 784,220 6.19% DELINQUENT 90-120 DAYS 107 1.51% 443,203 3.55% 118 1.71% 560,234 4.42% DELINQUENT 120-150 DAYS 79 1.12% 423,214 3.39% 75 1.08% 372,622 2.94% DELINQUENT 151-180 DAYS 45 0.64% 167,693 1.34% 46 0.66% 157,954 1.25% DEFAULTED 3,638 51.44% 1,766,339 14.14% 3,550 51.31% 1,732,973 13.68% VOLUNTARY TERMINATED 1,661 23.49% 3,251,564 26.03% 1,550 22.40% 3,055,961 24.12% Total Contracts / Principal Balance 7,072 100% 12,493,698 100% 6,919 100% 12,669,756 100% 4 35.00% 3 25.00% 2 15.00% All Vehicles - Delinquencies () All Vehicles - Delinquencies () 4 35.00% 3 25.00% 2 15.00% 1 5.00% DELINQUENT DELINQUENT 1-30 DAYS DELINQUENT 31-60 DAYS DELINQUENT 61-90 DAYS DELINQUENT 90-120 DAYS DELINQUENT 120-150 DAYS 151-180 DAYS DEFAULTED 1 5.00% DELINQUENT DELINQUENT 1-30 DAYS DELINQUENT 31-60 DAYS DELINQUENT 61-90 DAYS DELINQUENT 90-120 DAYS DELINQUENT 120-150 DAYS 151-180 DAYS DEFAULTED All Vehicles New Cars Used Cars - up to 3 yrs Used Cars - up to 5 yrs Total Used Cars All Vehicles New Cars Used Cars - up to 3 yrs Used Cars - up to 5 yrs Total Used Cars

Table XVI. Principal Maturity Analysis Month. of Contracts % by. Value of Contracts (Mn) % by Value. of Contracts % by. Value of Contracts % by Value 1 50,779 10 191,759,691 10 119,783 10 683,649,055 10 2 48,930 96.36% 181,905,929 94.86% 119,783 10 662,464,287 96.90% 3 47,471 93.49% 172,329,025 89.87% 118,839 99.21% 640,963,425 93.76% 4 46,183 90.95% 162,993,290 85.00% 117,454 98.06% 619,539,907 90.62% 5 45,147 88.91% 153,890,168 80.25% 115,705 96.60% 598,261,301 87.51% 6 43,710 86.08% 144,870,420 75.55% 113,801 95.01% 577,199,788 84.43% 7 42,186 83.08% 136,071,336 70.96% 111,878 93.40% 556,400,779 81.39% 8 40,194 79.15% 127,456,511 66.47% 109,924 91.77% 535,847,455 78.38% 9 38,419 75.66% 119,243,929 62.18% 107,735 89.94% 515,520,934 75.41% 10 36,561 72.00% 111,342,053 58.06% 105,725 88.26% 495,524,270 72.48% 11 34,842 68.61% 103,807,595 54.13% 103,979 86.81% 475,808,178 69.60% 12 33,145 65.27% 96,592,278 50.37% 102,529 85.60% 456,326,265 66.75% 13 31,596 62.22% 89,701,239 46.78% 100,368 83.79% 436,902,802 63.91% 14 30,517 60.10% 83,169,199 43.37% 98,200 81.98% 417,770,278 61.11% 15 29,472 58.04% 76,819,496 40.06% 95,263 79.53% 398,838,418 58.34% 16 28,462 56.05% 70,635,332 36.84% 92,716 77.40% 380,456,448 55.65% 17 27,576 54.31% 64,624,826 33.70% 89,939 75.08% 362,434,876 53.01% 18 26,240 51.67% 58,681,873 30.60% 87,248 72.84% 344,861,717 50.44% 19 24,898 49.03% 52,964,245 27.62% 84,535 70.57% 327,733,672 47.94% 20 23,168 45.63% 47,431,094 24.73% 81,896 68.37% 311,074,181 45.50% 21 21,599 42.54% 42,262,649 22.04% 79,183 66.11% 294,838,312 43.13% 22 19,953 39.29% 37,379,034 19.49% 76,748 64.07% 279,085,766 40.82% 23 18,249 35.94% 32,807,225 17.11% 74,644 62.32% 263,748,996 38.58% 24 16,514 32.52% 28,583,845 14.91% 72,943 60.90% 248,788,505 36.39% 25 14,959 29.46% 24,751,431, 12.91% 70,577 58.92% 233,969,008, 34.22% 26 13,694 26.97% 21,287,769 11.10% 68,018 56.78% 219,501,604 32.11% 27 12,538 24.69% 18,105,938 9.44% 64,773 54.08% 205,374,302 30.04% 28 11,578 22.80% 15,180,821 7.92% 61,820 51.61% 191,891,868 28.07% 29 10,725 21.12% 12,461,050 6.50% 58,798 49.09% 178,935,096 26.17% 30 9,418 18.55% 9,831,709 5.13% 56,016 46.76% 166,574,536 24.37% 31 8,113 15.98% 7,481,142 3.90% 53,250 44.46% 154,739,488 22.63% 32 6,488 12.78% 5,362,311 2.80% 50,754 42.37% 143,446,703 20.98% 33 5,000 9.85% 3,624,371 1.89% 48,887 40.81% 132,713,566 19.41% 34 3,614 7.12% 2,240,781 1.17% 47,110 39.33% 122,316,047 17.89% 35 2,425 4.78% 1,198,234 0.62% 45,460 37.95% 112,228,430 16.42% 36 1,061 2.09% 424,964 0.22% 43,978 36.71% 102,434,176 14.98% 37 5 0.01% 2,442 41,798 34.89% 92,776,038 13.57% 38 0 0 39,562 33.03% 83,490,655 12.21% 39 0 0 36,645 30.59% 74,518,640 10.90% 40 0 0 34,085 28.46% 66,189,859 9.68% 41 0 0 31,448 26.25% 58,349,816 8.54% 42 0 0 28,644 23.91% 51,010,501 7.46% 43 0 0 25,855 21.58% 44,275,524 6.48% 44 0 0 23,273 19.43% 38,160,151 5.58% 45 0 0 21,190 17.69% 32,668,658 4.78% 46 0 0 19,281 16.10% 27,651,079 4.04% 47 0 0 17,678 14.76% 23,072,217 3.37% 48 0 0 16,316 13.62% 18,856,359 2.76% 49 14,225 11.88% 14,797,229 2.16% 50 12,178 10.17% 11,200,431 1.64% 51 9,648 8.05% 7,977,449 1.17% 52 7,423 6.20% 5,372,022 0.79% 53 5,344 4.46% 3,299,941 0.48% 54 3,489 2.91% 1,734,042 0.25% 55 1,531 1.28% 614,499 0.09% 56 7 0.01% 3,510 Total contract/balance 50,779 191,759,691 119,783 683,649,055 % of current principal balance % of original principal balance 12 12 10 10 8 8 6 6 4 4 2 2 1 3 5 7 9 1113151719212325272931333537394143454749515355 Month 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 Month

CARDIFF AUTO RECEIVABLES SECURITISATION 2011-1 INVESTOR REPORT Monthly Reference Portfolio Report DEAL OVERVIEW Defaulted Contract Delinquent Contract Any contract that has been terminated prior to the scheduled contract end date, including due to Fraud, Unable to Trace Borrower, Borrower is Deceased, VT with Liability, Repossession, Litigations, Agreement Revised in method unacceptable to the Securitisation, Insolvencey, Bad Debt Write Off Any contract that was past due at the end of the current period. Early Settlement Voluntary Termination Any contract that was early settled by the borrower Any contract that has been terminated by the Borrower after paying 50% of the total amount due under the the contract, as allowed under the Consumer Credit Act. te - treated as default for purpose of the securitisation