<assetData>
<assets>
<!-- General Comments - Asset Related Document - This asset related document provides narrative to explain the asset-level data reported in Exhibit 102 to the Form ABS-EE to which this asset related document is attached as an exhibit. Additional explanatory narrative is included in the prospectus for the securities issued by the issuing entity (the "Prospectus"). You should read this asset related document and the Prospectus completely to understand the asset-level data and how it may differ from similar data appearing in the Prospectus and the Monthly Investor Report. References to "Items" in the Explanatory Narrative below are references to specific asset level data items listed in 17 CFR 229.1125 (Item 1125 of Regulation AB) Schedule AL - Asset-Level Information. Capitalized terms used in the Explanatory Narrative below and not otherwise defined in this asset related document have the meanings assigned to such terms in the Prospectus. Exhibit 102 to the Form ABS-EE may not include specific items with a corresponding fields which return null values. -->
<originationDate/>
<!-- Item 4(c)(2) Origination Date - Origination date is the calendar month and year in which the related lease contract was executed. -->
<acquisitionCost/>
<!-- Item 4(c)(3) Acquisition Cost - Acquisition cost is the adjusted capitalized cost of the lease at the time of origination. -->
<originalLeaseTermNumber/>
<!-- Item 4(c)(4) Original Lease Term - Original lease term is the term of the lease in months at the time lease was originated. -->
<scheduledTerminationDate/>
<!-- Item 4(c)(5) Scheduled Termination Date - Scheduled termination date refers to the current maturity date of the lease, after giving effect to any modifications (such as extensions). -->
<underwritingIndicator/>
<!-- Item 4(c)(7) Underwriting Indicator - Underwriting indicator is "true" for any account for which the credit application was automatically approved. Underwriting indicator is false if the contract required any manual review. -->
<paymentType/>
<!-- Item 4(c)(9) Payment Type - Payment type is reported as "98" for single pay leases. -->
<subvented/>
<!-- Item 4(c)(10) Subvented - Subvented is reported as "98" if there is either a cash rebate offered on the lease or there is a combination of more than one subvention type applicable on the given lease contract. -->
<vehicleManufacturerName/>
<!-- Item 4(d)(1) Vehicle Manufacturer - Vehicle manufacturer refers to the car maker which, in this case, is only Porsche. -->
<vehicleTypeCode/>
<!-- Item 4(d)(5) Vehicle Type - Vehicle type "3" (SUV) represents crossover and sport utility vehicles, such as the Macan and Cayenne. -->
<vehicleValueAmount/>
<!-- Item 4(d)(6) Vehicle Value - Vehicle value refers to the value of the vehicle of the car at the time of origination. This value is based on source reported in Item 4(d)(7). -->
<vehicleValueSourceCode/>
<!-- Item 4(d)(7) Source of Vehicle Value - Generally, new vehicles will derive vehicle value from MSRP and used vehicles will derive vehicle value from Black Book (code "98"). -->
<baseResidualValue/>
<!-- Item 4(d)(8) Base Residual Value - Base Residual Value represents the (non-discounted) securitized residual value of the leased vehicle as of the pool cutoff date as described in the prospectus. -->
<baseResidualSourceCode/>
<!-- Item 4(d)(9) Source of Base Residual Value - Source of Base Residual Value type "98" (Other) represents the contractual residual value. -->
<lesseeIncomeVerificationLevelCode/>
<!-- Item 4(e)(3) Lessee Income Verification Level - Generally, income is not verified. In some cases, certain verification procedures may have been performed for particular applicant-provided information. However, the Lessee income verification level is still reported as "2" (Stated, not verified) for such leases, and investors should assume that no income verification procedures have been performed. -->
<lesseeEmploymentVerificationCode/>
<!-- Item 4(e)(4) Lessee Employment Verification - Generally, employment is not verified. In some cases, certain verification procedures may have been performed for particular applicant-provided information. However, the Lessee employment verification level is still reported as "2" (Stated, not verified) for such leases, and investors should assume that no employment verification procedures have been performed. This field only reflects data from 2024 and onwards. Leases originated prior to this will be assumed to have no stated employment. -->
<paymentToIncomePercentage/>
<!-- Item 4(e)(6) Payment to Income Ratio - Payment-to-income ratio refers to Lessee's payment in relation to his/her income. This ratio is calculated using Lessee's current base payment and dividing it by Lessee's annualized income. -->
<lesseeGeographicLocation/>
<!-- Item 4(e)(7) Geographic location of Lessee - Geographic location of Lessee refers to the state of the Lessee based on the billing address. -->
<remainingTermNumber/>
<!-- Item 4(f)(2) Remaining Term to Maturity - Remaining term to maturity is the number of months from the scheduled termination date, Item 4(c)(5), and the reporting period ending date, Item 4(b)(2). -->
<reportingPeriodModificationIndicator/>
<!-- Item 4(f)(3) Modification Indicator Reporting Period - Reporting period will be "True" if there was a due date change, a change in term (renewal) or an extension (deferral) in the current reporting period. Refer to Item 4(j)(1), modification type, for further explanation. -->
<servicingAdvanceMethodCode/>
<!-- Item 4(f)(4) Servicing Advance Method - Reported value is "1" for specified leases in respect of which no servicing advance has been made in the related reporting period. Reported value is "4" for specified leases in respect of which a servicing advance has been made in the related reporting period. -->
<nextReportingPeriodPaymentAmountDue/>
<!-- Item 4(f)(7) Next Reporting Period Payment Amount Due - Reported amount represents the total amount of lease payments due in the next reporting period. Reported amount excludes fees and sales tax that may be due. -->
<servicingFeePercentage/>
<!-- Item 4(f)(8) Servicing Fee Percentage - Servicing Fee refers to the servicing fee which is a constant 1%. -->
<servicingFlatFeeAmount/>
<!-- Item 4(f)(9) Servicing Fee Flat-Fee - Servicing flat fee amount is left blank because the Servicer currently does not offer this option. -->
<otherLeaseLevelServicingFeesRetainedAmount/>
<!-- Item 4(f)(10) Other Lease-Level Servicing Fee(s) Retained by Servicer - Other lease-level servicing fee(s) retained by Servicer is left blank because the Servicer currently does not retain any additional fees. -->
<otherAssessedUncollectedServicerFeeAmount/>
<!-- Item 4(f)(11) Other Assessed but Uncollected Servicer Fees - Other assessed but uncollected servicer fees refers to the aggregate amount of the late fees assessed since origination of the related lease that have not been paid or waived prior to the end of the current reporting period. -->
<reportingPeriodEndingActualBalanceAmount/>
<!-- Item 4(f)(12) Reporting Period Ending Actual Balance - The balance of the lease contract at the end of the reporting period as represented in the Servicer's asset servicing system. -->
<reportingPeriodScheduledPaymentAmount/>
<!-- Item 4(f)(13) Reporting Period Scheduled Payment Amount - Reporting period scheduled payment amount refers to the monthly payment, including taxes and fees, due to be paid for the related account. -->
<totalActualAmountPaid/>
<!-- Item 4(f)(14) Total Actual Amount Paid - Total actual amount paid represents the amount of base rent received in the reporting period, excluding taxes. A negative value represents a payment that got reversed within the reporting period. -->
<actualOtherCollectedAmount/>
<!-- Item 4(f)(15) Actual Other Amounts Collected - Actual other amounts collected represents any other amounts collected that belongs to the Collection Account besides total actual amount paid {4(f)(14)}. Examples include, but are not limited to, Payaheads, Sales Proceeds, Recoveries, payoffs. -->
<servicerAdvancedAmount/>
<!-- Item 4(f)(17) Servicer Advanced Amount - Servicer advanced amount will be left blank unless an advance is made. -->
<zeroBalanceEffectiveDate/>
<!-- Item 4(f)(19)(i) Zero Balance Effective Date - Zero balance effective date represents the date on which the Securitization Value of the lease has gone to zero if this date was in the current reporting period. The field will be left blank for all other reporting periods. -->
<zeroBalanceCode/>
<!-- Item 4(f)(19)(ii) Zero Balance Code - Zero balance code will only be reported when the Securitization Value has gone to zero in the current reporting period. -->
<currentDelinquencyStatus/>
<!-- Item 4(f)(20) Current Delinquency Status - Current delinquency status is reported as the number of days elapsed from the date a payment is due under the related lease. A payment is considered to be delinquent when the lessee fails to remit any part of the scheduled payment on or before the related due date. -->
<primaryLeaseServicerName/>
<!-- Item 4(g)(1) Primary Lease Servicer - Primary lease servicer refers to the Servicer. -->
<mostRecentServicingTransferReceivedDate/>
<!-- Item 4(g)(2) Most Recent Servicing Transfer Received Date - Most recent servicing transfer date will be left blank unless a Servicer Replacement Event has occurred. -->
<assetSubjectDemandIndicator/>
<!-- Item 4(h) Asset Subject to Demand - Asset subject to demand represents third party repurchase requests due to a breach of representations and warranties. -->
<assetSubjectDemandStatusCode/>
<!-- Item 4(h)(1) Status of Asset Subject to Demand - Status of asset subject to demand will only be reported when Item 4(h), asset subject to demand, has been reported "True". -->
<repurchaseAmount/>
<!-- Item 4(h)(2) Repurchase Amount - Repurchase amount will only be reported when Item 4(h), asset subject to demand, has been reported "True" and Item 4(h)(1), status of asset subject to demand, has been reported "1". Otherwise, the field will be left blank. -->
<DemandResolutionDate/>
<!-- Item 4(h)(3) Demand Resolution Date - Demand resolution date will only be reported when Item 4(h), asset subject to demand, has been reported "True" and Item 4(h)(1), status of asset subject to demand, has been reported "1". Otherwise, this field will be left blank. -->
<repurchaserName/>
<!-- Item 4(h)(4) Repurchaser - Repurchaser will only be reported when Item 4(h), asset subject to demand, has been reported "True" and Item 4(h)(1), status of asset subject to demand, has been reported "1". Otherwise, this field will be left blank. -->
<repurchaseOrReplacementReasonCode/>
<!-- Item 4(h)(5) Repurchase or Replacement Reason - Repurchase or replacement reason will only be reported when Item 4(h), asset subject to demand, has been reported "True" and Item 4(h)(1), status of asset subject to demand, has been reported "1". Otherwise, this field will be left blank. -->
<chargedOffAmount/>
<!-- Item 4(i)(1) Charge-off Amounts - Charge-off amounts represent the beginning of period Securitization Value for Defaulted Units and will only be reported when the asset has gone to credit loss in the current reporting period. -->
<modificationTypeCode/>
<!-- Item 4(j)(1) Modification Type - Modification type includes modifications that impact the original terms of the asset. If modification type "2" (term) is reported if the scheduled maturity date is greater than the original maturity date but the lease was not renewed or extended. If modification type "3" (extension) is reported, it means that the lessee was granted a renewal or extension. If modification type "98" (other) is reported it means that the lessee's monthly due date has been changed. This data item will only be reported if it is applicable in the current reporting period. -->
<leaseExtended/>
<!-- Item 4(j)(2) Lease Extension - Lease extension represents the number of months the lease was extended during the reporting period. This data item will only be reported if it is applicable in the current reporting period. -->
<terminationIndicator/>
<!-- Item 4(k)(1) Termination Indicator - Termination indicator will have a value of "98" in the case of charge-offs where a vehicle was not repossessed prior to the charge-off. The field will be left blank for all active accounts. -->
<excessFeeAmount/>
<!-- Item 4(k)(2) Excess Fees - Excess fees represent the amount invoiced for excess wear and tear and excess mileage at the time of lease termination. -->
<liquidationProceedsAmount/>
<!-- Item 4(k)(3) Liquidation Proceeds - Liquidation proceeds consist of any vehicle sales proceeds, as well as recoveries of charged off amounts. The amounts are net of repossession fees, auction expenses, and other expenses associated with the liquidation of the vehicle. -->
</assets>
</assetData>
