Exhibit 99.1

NISSAN AUTO LEASE TRUST 2024-B

Servicer Report

 

Collection Period Start    1-Sep-26    Distribution Date   

15-Oct-26

Collection Period End    30-Sep-26    30/360 Days   

30

Beg. of Interest Period    15-Sep-26    Actual/360 Days   

30

End of Interest Period    15-Oct-26      

 

SUMMARY              
     Coupon Rate     Initial Balance      Beginning Balance      Ending Balance      Pool Factor  

Total Portfolio

       1,383,314,271.99        688,069,015.21        640,697,879.31        0.4631615  

Total Securities

       1,383,314,271.99        688,069,015.21        640,697,879.31        0.4631615  

Class A-1 Notes

     5.435000 %      126,000,000.00        0.00        0.00        0.0000000  

Class A-2a Notes

     5.050000 %      220,000,000.00        0.00        0.00        0.0000000  

Class A-2b Notes

     4.058500 %      253,250,000.00        0.00        0.00        0.0000000  

Class A-3 Notes

     4.920000 %      473,250,000.00        377,254,743.22        329,883,607.32        0.6970599  

Class A-4 Notes

     4.960000 %      68,700,000.00        68,700,000.00        68,700,000.00        1.0000000  

Class B Notes

     5.210000 %      58,800,000.00        58,800,000.00        58,800,000.00        1.0000000  

Certificates

     0.000000 %      183,314,271.99        183,314,271.99        183,314,271.99        1.0000000  
     Principal Payment Due     Interest Payment      Principal per $1000 Face Amount      Interest per $1000
Face Amount
        

Class A-1 Notes

     0.00       0.00        0.0000000        0.0000000     

Class A-2a Notes

     0.00       0.00        0.0000000        0.0000000     

Class A-2b Notes

     0.00       0.00        0.0000000        0.0000000     

Class A-3 Notes

     47,371,135.90       1,546,744.45        100.0974874        3.2683454     

Class A-4 Notes

     0.00       283,960.00        0.0000000        4.1333333     

Class B Notes

     0.00       255,290.00        0.0000000        4.3416667     

Certificates

     0.00       0.00        0.0000000        0.0000000     

Total Securities

     47,371,135.90       2,085,994.45           

 

I. COLLECTIONS

          

Lease Payments: ( Lease Series Assets)

          

Monthly Principal

             7,360,907.71  

Monthly Interest

             6,607,120.20  
          

 

 

 

Total Monthly Payments

             13,968,027.91  

Interest Rate Cap Payments

             0.00  

Advances:

          

Aggregate Monthly Payment Advances

 

        588,460.37  

Aggregate Sales Proceeds Advance

 

        21,642,425.24  
          

 

 

 

Total Advances

             22,230,885.61  

Vehicle Disposition Proceeds:

          

Repurchase Payments

             0.00  

Recoveries

             0.00  

Net Liquidation Proceeds (includes Reallocation Payments and Net Auction Proceeds)

 

          41,928,308.39  

Excess Wear and Tear and Excess Mileage

 

        207,735.27  

Remaining Payoffs

             0.00  

Net Insurance Proceeds

             789,442.11  

Residual Value Surplus

             852,458.86  
          

 

 

 

Total Collections

             79,976,858.15  
Vehicle Disposition Activity for the current month - Terminated and Sold (included
in Vehicle Disposition Proceeds)
    Reallocation
Payments
and Net Auction
Proceeds
    Net Insurance
Sales
    Lease Payoffs     Count  

Early Termination

       23,892,636.90           1,105  

Involuntary Repossession

       251,458.00           13  

Voluntary Repossession

       —            —   

Full Termination

       7,509,118.00           386  

Bankruptcty

       —            —   

Insurance Payoff

         775,686.11         30  

Customer Payoff

           877,527.28       33  

Grounding Dealer Payoff

           7,826,220.61       309  

Dealer Purchase

           172,358.12       7  
    

 

 

   

 

 

   

 

 

   

 

 

 

Total

       31,653,212.90       775,686.11       8,876,106.01       1,883  

II. COLLATERAL POOL BALANCE DATA

 

       
     Number     Book Amount     Discount Rate     Securitization Value        

Pool Balance - Beginning of Period

     29,715       847,461,230.80       10.00000 %      688,069,015.21    

Total Depreciation Received

       (8,633,150.70 )        (8,656,503.92 )   

Principal Amount of Gross Losses

     (53 )      (1,479,505.78 )        (1,203,035.79 )   

Repurchase / Reallocation

     0       0.00         0.00    

Early Terminations

     (930 )      (26,627,919.77 )        (21,060,156.71 )   

Scheduled Terminations

     (828 )      (20,597,082.44 )        (16,451,439.48 )   
  

 

 

   

 

 

     

 

 

   

Pool Balance - End of Period

     27,904       790,123,572.11         640,697,879.31    

Remaining Pool Balance

          

Lease Payment

           66,480,908.91    

Residual Value

           574,216,970.40    
        

 

 

   

Total

           640,697,879.31    

 

III. DISTRIBUTIONS

 

Total Collections

     79,976,858.15  

Reserve Amounts Available for Distribution

     0.00  
  

 

 

 

Total Available for Distribution

     79,976,858.15  

1. Amounts due Indenture Trustee as Compensation or Indemnity

     0.00  

2. Reimbursement of Payment Advance

     550,960.29  

3. Reimbursement of Sales Proceeds Advance

     20,132,523.26  

4. Servicing Fee:

  

Servicing Fee Due

     573,390.85  

Servicing Fee Paid

     573,390.85  

Servicing Fee Shortfall

     0.00  
  

 

 

 

Total Trustee, Advances and Servicing Fee Paid

     21,256,874.40  


NISSAN AUTO LEASE TRUST 2024-B

Servicer Report

 

5. Interest:

  

Class A-1 Notes Monthly Interest

  

Class A-1 Notes Interest Carryover Shortfall

     0.00  

Class A-1 Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-1 Notes Monthly Available Interest Distribution Amount

     0.00  

Class A-1 Notes Monthly Interest Paid

     0.00  

Chg in Class A-1 Notes Int. Carryover Shortfall

     0.00  

Class A-2a Notes Monthly Interest

  

Class A-2a Notes Interest Carryover Shortfall

     0.00  

Class A-2a Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-2a Notes Monthly Available Interest Distribution Amount

     0.00  

Class A-2a Notes Monthly Interest Paid

     0.00  

Chg in Class A-2a Notes Int. Carryover Shortfall

     0.00  

Class A-2b Notes Monthly Interest

  

Class A-2b Notes Interest Carryover Shortfall

     0.00  

Class A-2b Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-2b Notes Monthly Available Interest Distribution Amount

     0.00  

Class A-2b Notes Monthly Interest Paid

     0.00  

Chg in Class A-2b Notes Int. Carryover Shortfall

     0.00  

Class A-3 Notes Monthly Interest

  

Class A-3 Notes Interest Carryover Shortfall

     0.00  

Class A-3 Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-3 Notes Monthly Available Interest Distribution Amount

     1,546,744.45  

Class A-3 Notes Monthly Interest Paid

     1,546,744.45  

Chg in Class A-3 Notes Int. Carryover Shortfall

     0.00  

Class A-4 Monthly Interest

  

Class A-4 Notes Interest Carryover Shortfall

     0.00  

Class A-4 Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-4 Notes Monthly Available Interest Distribution Amount

     283,960.00  

Class A-4 Notes Monthly Interest Paid

     283,960.00  

Chg in Class A-4 Notes Int. Carryover Shortfall

     0.00  

Class B Monthly Interest

  

Class B Notes Interest Carryover Shortfall

     0.00  

Class B Notes Interest on Interest Carryover Shortfall

     0.00  

Class B Notes Monthly Available Interest Distribution Amount

     255,290.00  

Class B Notes Monthly Interest Paid

     255,290.00  

Chg in Class B Notes Int. Carryover Shortfall

     0.00  

Certificate Monthly Interest

  

Certificate Interest Carryover Shortfall

     0.00  

Certificate Interest on Interest Carryover Shortfall

     0.00  

Certificate Monthly Available Interest Distribution Amount

     0.00  

Certificate Monthly Interest Paid

     0.00  

Chg in Certificate Int. Carryover Shortfall

     0.00  

Total Note and Certificate Monthly Interest

  

Total Note and Certificate Monthly Interest Due

     2,085,994.45  

Total Note and Certificate Monthly Interest Paid

     2,085,994.45  

Total Note and Certificate Interest Carryover Shortfall

     0.00  

Chg in Total Note and Certificate Int. Carryover Shortfall

     0.00  

Total Available for Principal Distribution

     56,633,989.30  

6. Total Monthly Principal Paid on the Notes

  

Total Monthly Principal Paid on the Notes

     47,371,135.90  

Total Noteholders’ Principal Carryover Shortfall

     0.00  

Total Noteholders’ Principal Distributable Amount

     47,371,135.90  

Chg in Total Noteholders’ Principal Carryover Shortfall

     0.00  

7. Total Monthly Principal Paid on the Certificates

     0.00  

Total Certificateholders’ Principal Carryover Shortfall

     0.00  

Total Certificateholders’ Principal Distributable Amount

     0.00  

Chg in Total Certificateholders’ Principal Carryover Shortfall

     0.00  

Remaining Available Collections

     9,262,853.40  

 

IV. RESERVE ACCOUNT

  

Initial Reserve Account Amount

     5,533,257.09  

Required Reserve Account Amount

     6,916,571.36  

Beginning Reserve Account Balance

     6,916,571.36  

Additional Cash Infusion

     0.00  

Reinvestment Income for the Period

     0.00  

Reserve Fund Available for Distribution

     6,916,571.36  

Reserve Fund Draw Amount

     0.00  

Deposit of Remaining Available Collections

     9,262,853.40  

Gross Reserve Account Balance

     16,179,424.76  

Remaining Available Collections Released to Seller

     9,262,853.40  

Total Ending Reserve Account Balance

     6,916,571.36  


NISSAN AUTO LEASE TRUST 2024-B

Servicer Report

 

V. POOL STATISTICS       

Weighted Average Remaining Maturity

         4.89  

Monthly Prepayment Speed

         43 % 

Lifetime Prepayment Speed

         62 % 
           $     units  

Recoveries of Defaulted and Casualty Receivables

       1,220,438.11    

Securitization Value of Defaulted Receivables and Casualty Receivables

       1,203,035.79       53  

Aggregate Defaulted and Casualty Gain (Loss)

       17,402.32    

Pool Balance at Beginning of Collection Period

       688,069,015.21    

Net Loss Ratio

      

Current Collection Period

       0.0025 %   

Preceding Collection Period

       0.0066 %   

Second Preceding Collection Period

       0.0028 %   

Third Preceding Collection Period

       -0.0044 %   

Cumulative Net Losses for all Periods

       0.2770 %      3,832,022.26  
     % of BOP Pool Balance     Amount     Number  

Delinquent Receivables:

      

31-60 Days Delinquent

     1.11 %      7,658,968.66       334  

61-90 Days Delinquent

     0.21 %      1,415,938.45       64  

91-120 Days Delinquent

     0.11 %      732,037.18       32  

More than 120 Days

     0.02 %      148,753.44       6  
    

 

 

   

 

 

 

Total Delinquent Receivables:

     1.43 %      9,955,697.73       436  
           Amount     Number  

61+ Days Delinquencies as Percentage of Receivables

      

Current Collection Period

       0.33 %      0.34 % 

Preceding Collection Period

       0.37 %      0.37 % 

Second Preceding Collection Period

       0.24 %      0.26 % 

Third Preceding Collection Period

       0.28 %      0.27 % 

60 Day Delinquent Receivables

       2,739,179.18    

Delinquency Percentage

       0.40 %   

Delinquency Trigger

       4.40 %   

Does the Delinquency Percentage exceed the Delinquency Trigger?

       No    
           $     units  

Aggregate Sales Performance of Auctioned Vehicles

      

Sales Proceeds

       31,401,754.90       1,491  

Securitization Value

       31,771,279.98       1,491  
    

 

 

   

Aggregate Residual Value Surplus (Loss)

       (369,525.08 )   
           $     units  

Cumulative Sales Performance of Auctioned Vehicles

      

Cumulative Sales Proceeds

       231,520,345.61       10,642  

Cumulative Securitization Value

       226,033,395.19       10,642  
    

 

 

   

Cumulative Residual Value Surplus (Loss)

       5,486,950.42    
    

 

 

   
VI. RECONCILIATION OF ADVANCES       

Beginning Balance of Residual Advance

         25,944,257.72  

Reimbursement of Outstanding Advance

         20,132,523.26  

Additional Advances for current period

         21,642,425.24  
      

 

 

 

Ending Balance of Residual Advance

         27,454,159.70  
      

 

 

 

Beginning Balance of Payment Advance

         1,623,058.73  

Reimbursement of Outstanding Payment Advance

         550,960.29  

Additional Payment Advances for current period

         588,460.37  
      

 

 

 

Ending Balance of Payment Advance

         1,660,558.81  
      

 

 

 

 

VII. STATEMENTS TO NOTEHOLDERS         

1. Has there been any material change in practices with respect to charge-offs, collection and management of delinquent Leases, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience?

           NO  

2. Have there been any material modifications, extensions or waivers to Lease terms, fees, penalties or payments during the Collection Period?

           NO  

3. Have there been any material breaches of representations, warranties or covenants contained in the Leases?

           NO  

4. Has there been any new issuance of notes or other securities backed by the Series Assets Assets?

           NO  

5. Has there been any material additions, removals or substitutions of Series Assets Assets, or repurchases of Series Assets Assets?

           NO  

6. Has there been any material change in the underwriting, origination or acquisition of Leases?

           NO  

VIII. CREDIT RISK RETENTION

On the Closing Date, Nissan Auto Leasing LLC II, the depositor, an affiliate of Nissan Motor Acceptance Company LLC (“NMAC”), the sponsor, retained a sufficient portion of the Certificates to satisfy the obligations of NMAC under the requirements of (a) the SEC’s credit risk retention rules codified at 17 C.F.R. Part 246 (“Regulation RR”) and (b) the EU Risk Retention Requirements and the UK Risk Retention Requirements (each as defined in the preliminary prospectus for the Notes dated July 10, 2024 (the “Preliminary Prospectus”). The portion of Certificates being retained to satisfy the EU Risk Retention Requirements and the UK Risk Retention Requirements is referred to herein as the “Retained Interest”.

NMAC, as “originator” for the purposes of the EU Risk Retention Requirements and the UK Risk Retention Requirements, currently retains a material net economic interest that is not less than 5% in the securitization transaction described in the Preliminary Prospectus, in the form of retention of the first loss tranche in accordance with paragraph (d) of Article 6(3) of the EU Securitization Regulation and paragraph (d) of Article 6(3) of the UK Securitization Regulation (each as defined in the Preliminary Prospectus), in each case as in effect on the Closing Date, by holding all the membership interest in the depositor, which in turn holds Certificates representing at least 5% of the aggregate nominal value of the leases and related leased vehicles.

NMAC has not sold, hedged or otherwise mitigated its credit risk under or associated with the Retained Interest (and has not permitted the depositor or any of its other affiliates to sell, hedge or otherwise mitigate its credit risk under or associated with the Retained Interest) except to the extent permitted in accordance with the EU Risk Retention Requirements and the UK Risk Retention Requirements or Regulation RR.

NMAC has not changed the manner in which it retains the Retained Interest, except in accordance with the EU Risk Retention Requirements and the UK Risk Retention Requirements or Regulation RR.