U.S. Floorplan Risk Management

FordREV Note Redemption, Step-Up And Make-Whole Note Redemption • Note redemption period begins six months prior to the expected final payment date Note redemption achieved through sale of trust assets to the depositor, another Ford Credit special purpose entity, or a third party if sale proceeds are sufficient to fully repay the notes Step-up Amounts If notes are not paid in full by the expected final payment date, step-up amounts will be payable Step-up amounts will accrue on each class of notes at a rate equal to the interest rate for the class less 0.01% Make-whole Payments - - Make-whole payments will be payable on each principal payment made prior to the note redemption period due to: An amortization event resulting from the failure to fund the negative carry account to the required amount or the adjusted pool balance declining to less than 50% of note balance, or The trust's exercise of its option to redeem the notes prior to the note redemption period Make-whole payments will be equal the excess of (a) the present value of (i) the amount of all future interest payments that would otherwise accrue on the principal payment until the sixth payment date prior to the expected final payment date and (ii) the principal payment, discounted from the sixth payment date prior to the expected final payment date to the payment date monthly on a 30/360 basis at 0.25% plus the higher of (1) zero and (2) the current maturity matched U.S. Treasury rate over (b) the principal payment 52 52 Ford FORD CREDIT

View entire presentation