DBRS Discontinues Ratings Issued by Driver UK Master S.A.

DBRS Ratings Limited (“DBRS”) has discontinued the ratings on the series of notes listed below issued by Driver UK Master. The following rating actions have been taken due to repayment of each series on 20 November 2013:

• Series 2011-1 previously rated AAA (sf) is now rated Disc.-Repaid
• Series 2011-2 previously rated AAA (sf) is now rated Disc.-Repaid
• Series 2011-3 previously rated AAA (sf) is now rated Disc.-Repaid
• Series 2011-5 previously rated AAA (sf) is now rated Disc.-Repaid
• Series 2012-1 previously rated AAA (sf) is now rated Disc.-Repaid
• Series 2012-2 previously rated AAA (sf) is now rated Disc.-Repaid

Notes:
The principal methodology applicable is Master European Structured Finance Surveillance Methodology.

Other methodologies and criteria referenced in this transaction are listed at the end of this press release.

This can be found on www.dbrs.com at:
http://www.dbrs.com/about/methodologies

The sources of information used for this rating include investor reports, a Flow of Funds Memorandum and Netting Agreement provided by Volkswagen Financial Services (UK ) Limited and Royal Bank of Scotland plc.

DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

This is the first rating action since the Initial Rating Date on 20 November 2012.

Information regarding DBRS ratings, including definitions, policies and methodologies are available on www.dbrs.com.

For further information on DBRS historic default rates published by the European Securities and Markets Administration (“ESMA”) in a central repository, see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Initial Lead Analyst: Mike Babick
Initial Rating Date: 20 November 2012
Initial Rating Committee Chair: Claire Mezzanotte

Lead Surveillance Analyst: Keith Gorman
Rating Committee Chair: Chuck Weilamann

DBRS Ratings Limited
1 Minster Court, 10th Floor
Mincing Lane
London
EC3R 7AA
United Kingdom

The rating methodologies and criteria used in the analysis of this transaction can be found at: http://www.dbrs.com/about/methodologies

Master European Structured Finance Surveillance Methodology