Securitized Term Auto Receivables Trust 20181 I. INITIAL PARAMETERS US $ Amount CDN $ Amount # of Receivables Weighted Avg. Remaining Term Initial Pool Balance (at Cutoff Date) $739,058,504.34 35,794 47 months Original Securities Note Interest Rate Final Scheduled Distribution Day Class A1 Notes $ 138,000,000.00 $ 176,019,000.00 2.40000% 4/25/2019 Class A2 Notes $ 191,000,000.00 $ 243,620,500.00 2.80700% 12/29/2020 Class A3 Notes $ 111,000,000.00 $ 141,580,500.00 3.06800% 1/25/2022 Class A4 Notes $ 60,000,000.00 $ 76,530,000.00 3.29800% 11/25/2022 Class B Notes $ 23,873,000.00 3.20900% 5/25/2023 Class C Notes $ 20,463,000.00 3.94800% 7/25/2024 Total $ 500,000,000.00 $ 682,086,000.00 II. AVAILABLE FUNDS (CDN $) (For the given Collection period) Interest Interest Collections $ 1,428,700.14 Principal Principal Collections (excluding prepayments in full) $ 15,826,193.23 Prepayments in Full $ 7,021,571.32 Liquidation Proceeds $ Recoveries $ Sub Total $ 22,847,764.55 Total Collections $ 24,276,464.69 Repurchase Amounts Repurchase Amounts Related to Principal $ 252,571.52 Repurchase Amounts Related to Interest $ 600.89 Sub Total $ 253,172.41 Clean Up Call Reserve Account Draw Amount $ $ Total Available Funds $ 24,529,637.10 Page 1
Securitized Term Auto Receivables Trust 20181 III. DISTRIBUTIONS Distribution Amount Payable (CDN $) Distributions (CDN $) Shortfall (CDN $) Carryover Shortfall (CDN $) Remaining Available Funds (CDN $) (1) Trustee Fees and Expenses $ $ $ $ $ 24,529,637.10 (2) Servicing Fee $ $ $ $ $ 24,529,637.10 (3) Swap Counterparty Interest (1) $ 949,216.62 $ 949,216.62 $ $ $ 23,580,420.48 (4) First Priority Principal Payment (2) $ $ $ $ $ 23,580,420.48 (5) Class B Note Interest $ 48,273.82 $ 48,273.82 $ $ $ 23,532,146.66 (6) Second Priority Principal Payment (2) $ 296,818.17 $ 296,818.17 $ $ $ 23,235,328.49 (7) Class C Note Interest $ 50,907.46 $ 50,907.46 $ $ $ 23,184,421.03 (8) Reserve Account replenishment $ $ $ $ $ 23,184,421.03 (9) Regular Principal Payment and Senior Swap Termination Payment, if any (2) $ 20,463,000.00 $ 20,463,000.00 $ $ $ 2,721,421.03 (10) Subordinated Swap Termination Payment $ $ $ $ $ 2,721,421.03 (11) Additional Trustee Fees and Expenses $ $ $ $ $ 2,721,421.03 (12) Other Expenses (3) $ 100.00 $ 100.00 $ $ $ 2,721,321.03 (13) Deferred Purchase Price to the Seller $ 2,721,321.03 $ 2,721,321.03 $ Total $ 24,529,637.10 $ 24,529,637.10 $ $ Class A Note Liquidation Account (US $) Total Principal Payments (CDN $) Amount deposited by Swap Counterparty or Administrative Agent $ 17,173,955.28 First Priority Principal Payment (5) $ Second Priority Principal Payment (5) $ 296,818.17 Amounts to be distributed from Class A Note Liquidation Account to Class A Notes Regular Principal Payment (5) $ 20,463,000.00 Class A Note Interest (4) $ 898,127.63 Total $ 20,759,818.17 Principal Payment (5) $ 16,275,827.65 Total $ 17,173,955.28 Shortfall $ Carryover shortfall $ (1) US $ amount to pay interest on the Class A Notes is obtained through Swap Agreement or by conversion of CDN $ by the Administrative Agent if a Swap Termination Event has occurred and deposited to Class A Note Liquidation Account. (2) US $ amount to pay principal on the Class A Notes is obtained through Swap Agreement or by conversion of CDN $ by the Administrative Agent if a Swap Termination Event has occurred and deposited to the Class A Note Liquidation Account. (3) Other expenses include Adminstrative Agent Fees and Expenses, Tax Payments and Beneficiary Payments. (4) Pro rata among Class A Notes based on the principal amount of the Offered Notes as of the end of the prior Distribution Day. (5) Paid sequentially by Class. IV. NOTEHOLDER PAYMENTS Noteholder Interest Payments Noteholder Principal Payments Total Payment Actual Per $1,000 Original Actual Per $1,000 Original Actual Per $1,000 Original Principal Amount Principal Amount Principal Amount US $ Amounts Class A1 Notes $ 211,600.00 $ 1.53333 $ 16,275,827.65 $ 117.94078 $ 16,487,427.65 $ 119.47411 Class A2a Notes $ 342,531.97 $ 1.79336 $ $ $ 342,531.97 $ 1.79336 Class A3 Notes $ 217,572.33 $ 1.96011 $ $ $ 217,572.33 $ 1.96011 Class A4 Notes $ 126,423.33 $ 2.10706 $ $ $ 126,423.33 $ 2.10706 Total (US $) $ 898,127.63 $ 16,275,827.65 $ 17,173,955.28 CDN $ Amounts Class B Notes $ 48,273.82 $ 2.02211 $ $ $ 48,273.82 $ 2.02211 Class C Notes $ 50,907.46 $ 2.48778 $ $ $ 50,907.46 $ 2.48778 Total (CDN $) $ 99,181.28 $ $ 99,181.28 Page 2
Securitized Term Auto Receivables Trust 20181 V. NOTES BALANCE Beginning of Period End of Period Notes Balance (US $) Balance (CDN $) Note Factor Balance (US $) Balance (CDN $) Note Factor Class A1 Notes $ 138,000,000.00 $ 176,019,000.00 $ 121,724,172.35 $ 155,259,181.83 0.8820592 Class A2 Notes $ 191,000,000.00 $ 243,620,500.00 $ 191,000,000.00 $ 243,620,500.00 Class A3 Notes $ 111,000,000.00 $ 141,580,500.00 $ 111,000,000.00 $ 141,580,500.00 Class A4 Notes $ 60,000,000.00 $ 76,530,000.00 $ 60,000,000.00 $ 76,530,000.00 Class B Notes $ 23,873,000.00 $ 23,873,000.00 Class C Notes $ 20,463,000.00 $ 20,463,000.00 Total $ 682,086,000.00 $ 661,326,181.83 0.9695642 VI. POOL INFORMATION (CDN $) Pool Information Beginning of Period End of Period Weighted average APR 2.54% 2.53% Weighted average Remaining Term 47 Months 47 Months Number of Receivables Outstanding 35,794 35,378 Pool Balance $ 739,058,504.34 $ 715,958,168.27 Adjusted Pool Balance (Pool Balance YSOC Amount) $ 682,182,014.14 $ 661,326,181.83 Pool Factor 0.9687436 VII. OVERCOLLATERALIZATION INFORMATION (CDN $) Yield Supplement Overcollateralization Amount $ 54,631,986.44 Actual Overcollateralization Amount (End of Period Pool Balance End of Period Note Balance) $ 54,631,986.44 VIII. RECONCILIATION OF RESERVE ACCOUNT (CDN $) Beginning Reserve Account Balance (as of Closing) $ 3,695,292.52 Reserve Account Deposits Made $ Reserve Account Draw Amount $ Ending Reserve Account Balance $ 3,695,292.52 Specified Reserve Account Balance $ 3,695,292.52 Page 3
Securitized Term Auto Receivables Trust 20181 IX. DELINQUENT RECEIVABLES (CDN $) Delinquent Receivables # of Receivables Amount % of End of Period Pool Balance 31 60 Days Delinquent 9 $ 191,145.48 0.03% 61 90 Days Delinquent 1 $ 8,271.60 91 120 Days Delinquent $ 121+ Days Delinquent $ Total Delinquent Receivables 10 $ 199,417.08 0.03% Repossession Inventory # of Receivables Amount Beginning of Period Repossession Inventory $ Repossessions in the Current Collection Period 1 $ 14,425.74 Vehicles removed from Inventory in Current Collection Period $ End of Period Repossession Inventory 1 $ 14,425.74 Number of 61+ Delinquent Receivables % of End Of Period # Receivables Current Collection Period Preceding Collection Period Second preceding Collection Period Three month simple average (current and two prior Collection Periods) X. NET LOSSES (CDN $) # of Receivables Amount Current Collection Period Losses Realized Losses (chargeoffs) $ (Recoveries) $ Net Losses for Current Collection Period $ Ratio of net losses for current Collection Period to beginning of Collection Period Pool Balance (annualized) Cumulative Losses Cumulative Realized Losses (Chargeoffs) $ (Cumulative Recoveries) $ Cumulative Net Losses for all Collection Periods $ Ratio of Cumulative Net Losses for all Collection Periods to Initial Pool Balance Ratio of Net Losses to the Average Pool Balance (annualized) Current Collection Period Prior Collection Period Second preceding Collection Period Three month simple average (current and two prior Collection Periods) Average Realized Loss (chargeoff) for Receivables that have experienced a Realized Loss Average Net Loss for Receivables that have experienced a Realized Loss Page 4
Securitized Term Auto Receivables Trust 20181 XI. CREDIT RISK RETENTION INFORMATION The fair value of the Notes and Residual Interest as of the Closing Date are summarized below. Credit Risk Retention disclosures on the fair value of eligible horizontal residual interest will only be provided in the first investor report, consistent with the disclosure requirements. BNS and START 20181 will be under no obligation to recalculate the fair value of the Notes and the Residual Interest as at any other date. Fair Value of Notes and Residual Interest Fair Value (CDN $) % of Fair Value Class A1 Notes $ 176,019,000 24.1% Class A2 Notes $ 243,620,500 33.4% Class A3 Notes $ 141,580,500 19.4% Class A4 Notes $ 76,530,000 10.5% Class B Notes $ 23,873,000 3.3% Class C Notes $ 20,463,000 2.8% Residual Interest $ 47,550,952 6.5% Total $ 729,636,952 100.0% The fair value of the Residual Interest is required to represent at least 5% of the sum of the fair value of the Notes and the Residual Interest on the Closing Date. BNS, or one or more majorityowned affiliates of BNS, is required to retain the Residual Interest until the latest of (i) two years from the Closing Date, (ii) the date the Pool Balance is onethird or less of the Initial Pool Balance, and (iii) the date the principal amount of the Notes is onethird or less of the original principal amount. Neither BNS nor any of its affiliates may sell, transfer or hedge the Residual Interest during this period other than as permitted by Regulation RR of the Securities Act. Methodology, Key Inputs and Assumptions Other than as described below, the methodologies, key inputs and assumptions used to determine the fair value of the Notes and the Residual Interest are consistent with those disclosed on pages 86 through 89 of the START 20181 Offering Memorandum dated April 25, 2018. The impact of these revised inputs is not considered material. Closing (Actual) Prior to Sale (Assumption) Class A1 Notes Interest Rate 2.400% 2.3% 2.5% Class A2 Notes Interest Rate 2.807% 2.6% 2.8% Class A3 Notes Interest Rate 3.068% 2.9% 3.1% Class A4 Notes Interest Rate 3.298% 3.2% 3.4% Class B Notes Interest Rate (1) 3.209% 3.2% 3.4% Class C Notes Interest Rate (1) 3.948% 3.9% 4.1% Fixed Rate payable by START 20181 under the Swap Agreement 2.362% 2.3% 2.5% (1) Denominated in Canadian Dollars Page 5