Latitude Australia Credit Card Master Trust … Australia Credit Card Master Trust Monthly Investor Report Report No: 8 Collection Period Start 01-Nov-17 Collection Period End 30-Nov-17

Latitude Australia Credit Card Master Trust Report No:

Monthly Investor Report

8

Transaction overview

Bloomberg Ticker: LAUCC

Report for the period ended: 30-Nov-17

Determination Date: 19-Dec-17

Transfer Date: 21-Dec-17

Interest Payment Date: 22-Dec-17

Reporting Periods: From: To:

Collection Period: 01-Nov-17 30-Nov-17

Interest Period: 22-Nov-17 21-Dec-17

Series Note Class Currency Issuance Amount Outstanding AmountExpected Redemption

Date

Scheduled Redemption

DateInterest Basis Margin

2017-1 A1 AUD 685,900,000.00 685,900,000.00 23-Mar-20 22-Mar-21 BBSW1M 1.2500%

2017-1 A2 AUD 125,650,000.00 125,650,000.00 23-Mar-20 22-Mar-21 BBSW1M 1.8500%

2017-1 B AUD 57,600,000.00 57,600,000.00 23-Mar-20 22-Mar-21 BBSW1M 2.4000%

2017-1 C AUD 52,350,000.00 52,350,000.00 23-Mar-20 22-Mar-21 BBSW1M 3.0000%

2017-1 D AUD 41,860,000.00 41,860,000.00 23-Mar-20 22-Mar-21 BBSW1M 3.7500%

2017-1 E AUD 36,640,000.00 36,640,000.00 23-Mar-20 22-Mar-21 BBSW1M 5.2500%

2017-2 A1 AUD 342,950,000.00 342,950,000.00 22-Aug-22 22-Aug-23 BBSW1M 1.2000%

2017-2 A2 AUD 62,825,000.00 62,825,000.00 22-Aug-22 22-Aug-23 BBSW1M 1.7000%

2017-2 B AUD 28,800,000.00 28,800,000.00 22-Aug-22 22-Aug-23 BBSW1M 2.2500%

2017-2 C AUD 26,175,000.00 26,175,000.00 22-Aug-22 22-Aug-23 BBSW1M 2.7500%

2017-2 D AUD 20,930,000.00 20,930,000.00 22-Aug-22 22-Aug-23 BBSW1M 3.5000%

2017-2 E AUD 18,320,000.00 18,320,000.00 22-Aug-22 22-Aug-23 BBSW1M 5.0000%

2017-VFN N/A AUD 75,000,000.00 11,588,400.00 23-Mar-20 22-Mar-22 BBSY1M 1.6000%

Originator VFN N/A AUD 93,340,000.00 92,732,666.44 N/A N/A N/A 10.1244%

*Fixed Rate

Transaction Overview Page 1

Eligible Receivable Balance (as at 30-Nov-2017):1,603,910,064.33

Principal Receivables Balance1,535,851,981.53

Outstanding Finance Charges52,308,082.80

Series Required Retained Principal Ledgers15,750,000.00

Cash Available for Reinvestment0.00

Originator VFN94,145,805.12

CRR Retention 5.8700%

The Transferor confirms that it will retain a material net economic interest of not less than 5%of the nominal value of the securitisation in accordance with Article 405 of the CRR and Article 51 of the AIMR,

by way of an orignator's interest of not less than 5% of the nominal value of the securitised exposures. As at the reporting date, this retention is in the form of the Originator VFN Loan Note.

Name Required Rating Current Rating Trigger StatusConsequences of

Trigger Breach

Westpac Banking

CorporationA-1/A, F1/A, A A-1+/AA-, F1+/AA-, AA PASS

Replacement within

specified period

Westpac Banking

CorporationA-1/A, F1/A, A A-1+/AA-, F1+/AA-, AA PASS

Replacement within

specified period

Westpac Banking

CorporationA-2/BBB, F2/BBB+, BBB A-1+/AA-, F1+/AA-, AA PASS

Replacement within

specified period

Transferor: Latitude Finance Australia Treasurer [email protected]

Servicer: Latitude Finance Australia Treasurer [email protected]

Trust Manager & Loan Note Trust Manager: KVD TM Pty Ltd Treasurer [email protected]

Trustee & Loan Note Trustee: Perpetual Corporate Trust Limited Manager, Transaction Management [email protected]

Trustee & Loan Note Trustee Account Bank: Westpac Banking Corporation Not Applicable Not Applicable

Paul Varro [email protected]

Steven Mixter [email protected]

Contact E-mail

Key Contacts Contact E-mail

Master Trust Assets

Transaction Party Ratings Triggers

Trustee Account Bank

Loan Note Trustee Account Bank

Transferor Account Bank

Counterparty Role Counterparty Contact Name

Transaction Overview Page 2

mailto:[email protected]





Latitude Australia Credit Card Master TrustMonthly Investor Report Report No:

8

Collection Period Start 01-Nov-17

Collection Period End 30-Nov-17

Portfolio Key Performance Indicators

Reporting Period Opening Receivables *(AUD) Opening No of Accounts*Average Account Balance

(AUD)*

Nov-2017 1,614,354,776.48 823,665 1,959.97

Oct-2017 1,649,585,922.61 828,760 1,990.43

Sep-2017 1,038,906,876.51 528,487 1,965.81

Aug-2017 1,067,521,344.33 532,236 2,005.73

Jul-2017 1,095,430,363.39 536,300 2,042.57

Jun-2017 1,109,488,759.56 540,668 2,052.07

May-2017 1,129,598,575.33 546,238 2,067.96

Apr-2017 1,135,069,999.32 552,775 2,053.40

* Credit Balance accounts are not included in reporting the balances / number of accounts

Reporting PeriodPayment Received in

Monthly Period (AUD)Monthly Payment Rate

Nov-2017 215,244,928.26 13.3332%

Oct-2017 227,335,775.61 13.7814%

Sep-2017 203,487,914.07 13.2223%

Aug-2017 151,941,423.70 14.2331%

Jul-2017 151,339,312.43 13.8155%

Jun-2017 143,501,714.97 12.9340%

May-2017 150,918,708.94 13.3604%

Apr-2017 109,802,375.63 11.6083%

Reporting PeriodPurchases in

Monthly Period (AUD)Purchase Rate

Nov-2017 189,771,542.32 11.7553%

Oct-2017 190,427,208.89 11.5439%

Sep-2017 181,183,745.37 11.7730%

Aug-2017 117,491,598.82 11.0060%

Jul-2017 118,416,310.42 10.8100%

Jun-2017 123,765,380.69 11.1552%

May-2017 124,389,017.39 11.0118%

Apr-2017 98,317,392.13 10.3941%

Key Performance Indicators Page 3

Reporting PeriodFinance Charges & Interchange in

Monthly Period (AUD)Yield

Nov-2017 19,943,072.20 15.0302%

Oct-2017 21,290,567.10 15.1965%

Sep-2017 18,155,038.80 14.3528%

Aug-2017 13,762,731.20 15.1796%

Jul-2017 13,844,704.34 14.8809%

Jun-2017 13,607,022.57 14.9215%

May-2017 14,240,691.99 14.8436%

Apr-2017 10,010,150.84 12.8757%

Reporting PeriodCharge-offs in

Monthly Period (AUD)Gross Charge-off Rate

Nov-2017 6,243,028.59 4.7051%

Oct-2017 6,333,255.67 4.5205%

Sep-2017 6,048,570.04 4.7818%

Aug-2017 4,372,663.61 4.8228%

Jul-2017 4,429,355.50 4.7609%

Jun-2017 4,335,784.52 4.7546%

May-2017 3,973,604.46 4.1418%

Apr-2017 3,583,712.78 4.6096%

Reporting PeriodNet Charge-offs in Monthly Period

(AUD)Net Charge-off Rate

Nov-2017 4,925,811.14 3.7124%

Oct-2017 4,744,254.01 3.3863%

Sep-2017 4,884,093.34 3.8612%

Aug-2017 3,402,367.99 3.7526%

Jul-2017 3,433,377.79 3.6904%

Jun-2017 3,360,619.49 3.6853%

May-2017 3,126,696.89 3.2591%

Apr-2017 3,305,026.47 4.2511%

Note: These tables report on both eligible and ineligible balances


Account Addition Amounts

Reporting Period No. of Accounts Added Accounts Added % (3M) Accounts Added % (12M)

Nov-2017 0 0.0000% 0.0000%

Oct-2017 0 0.0000% 0.0000%

Sep-2017 307,051 0.0000% 0.0000%

Aug-2017 0 0.0000% 0.0000%

Jul-2017 0 0.0000% 0.0000%

Jun-2017 0 0.0000% 0.0000%

May-2017 0 0.0000% 0.0000%

Apr-2017 0 0.0000% 0.0000%

Reporting PeriodPrincipal Balance of Accounts

AddedAccounts Added % (3M) Accounts Added % (12M)

Nov-2017 0 0.0000% 0.0000%

Oct-2017 0 0.0000% 0.0000%

Sep-2017 625,090,000.00 0.0000% 0.0000%

Aug-2017 0 0.0000% 0.0000%

Jul-2017 0 0.0000% 0.0000%

Jun-2017 0 0.0000% 0.0000%

May-2017 0 0.0000% 0.0000%

Apr-2017 0 0.0000% 0.0000%

Redesignated Accounts

Reporting Period No. of Accounts Total Receivable Balance

Nov-2017 938 0

Oct-2017 1076 0

Sep-2017 736 0

Aug-2017 714 0

Jul-2017 742 0

Jun-2017 754 0

May-2017 635 0

Apr-2017 219 0

Reporting Period Reason No. of Accounts Redesignated Total Receivable Balance

Nov-2017 Defaulted Accounts 938 0

Oct-2017 Defaulted Accounts 1076 0

Sep-2017 Defaulted Accounts 736 0

Aug-2017 Defaulted Accounts 714 0

Jul-2017 Defaulted Accounts 742 0

Jun-2017 Defaulted Accounts 754 0

May-2017 Defaulted Accounts 635 0

Apr-2017 Defaulted Accounts 219 0

Note: The accounts added in September 2017 were incorporated in the Series 2017-2 issuance and, therefore, subject to a ratings confirmation

and not subject to the Maximum Addition Amount test


Latitude Australia Credit Card Master TrustMonthly Investor Report Report No:

Report No: 8

Collection Period Start 01-Nov-17

Collection Period End 30-Nov-17

No. of Days in Collection Period 30

Interest Period Start 22-Nov-17

Interest Period End 21-Dec-17

No. of Days in Interest Period 30

Determination Date 19-Dec-17

Payment Date 22-Dec-17

Portfolio Summary

Opening Outstanding Balance of Eligible Receivables 1,614,354,776.48

Opening No. of Eligible Accounts 823,665

Closing Outstanding Balance of Eligible Receivables 1,595,962,288.67

Closing No. of Eligible Accounts 819,613

Closing Outstanding Balance of Ineligible Receivables 0.00

Closing No. of Ineligible Accounts 0

Closing Outstanding Balance of all Receivables 1,595,962,288.67

No. of Designated Accounts 819,613

Closing Credit Balance of all Receivables (3,732,266.21)

No. of Credit Balance Accounts 34,379

Account Age Distribution - Eligible Receivables

Account AgeTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

< 1 year 78,122 9.53% 201,066,896.52 12.60%

1 - 2 years 99,877 12.19% 251,836,359.67 15.78%

2 - 3 years 74,766 9.12% 169,165,801.82 10.60%

3 - 4 years 65,223 7.96% 139,175,990.16 8.72%

4 - 5 years 63,233 7.71% 115,548,636.31 7.24%

5 - 6 years 53,135 6.48% 87,957,771.51 5.51%

6 - 7 years 52,468 6.40% 83,288,955.80 5.22%

7 - 8 years 51,339 6.26% 79,064,416.98 4.95%

8 - 9 years 43,136 5.26% 67,689,822.39 4.24%

9 - 10 years 41,126 5.02% 63,377,855.80 3.97%

> 10 years 197,188 24.06% 337,789,781.71 21.17%

Total 819,613 100.00% 1,595,962,288.67 100.00%

Weighted Average Account Age (Years) 6.03

0 50,000,000 100,000,000150,000,000200,000,000250,000,000300,000,000350,000,000400,000,000

< 1 year

1 - 2 years

2 - 3 years

3 - 4 years

4 - 5 years

5 - 6 years

6 - 7 years

7 - 8 years

8 - 9 years

9 - 10 years

> 10 years

Portfolio Strats Page 6

Account Balance Distribution - Eligible Receivables

Account BalanceTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

= $0 277,385 33.84% 0.00 0.00%

$0 > and <= $5,000 445,347 54.34% 819,564,083.51 51.35%

$5,000 > and <= $10,000 79,358 9.68% 545,341,396.40 34.17%

$10,000 > and <= $15,000 13,775 1.68% 162,791,791.94 10.20%

> $15,000 3,748 0.46% 68,265,016.82 4.28%

Total (ex Credit Balance) 819,613 100.00% 1,595,962,288.67 100.00%

Average Balance (AUD) 1,947.21

Max. Account Balance (AUD) 133,781.98

Credit Limit Distribution - Eligible Receivables

Credit LimitTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

= $0 4,453 0.54% 74,348.60 0.00%

$0 > and <= $5,000 402,906 49.16% 468,133,436.37 29.33%

$5,000 > and <= $10,000 319,582 38.99% 702,948,217.18 44.05%

$10,000 > and <= $15,000 67,959 8.29% 277,690,009.61 17.40%

> $15,000 24,713 3.02% 147,116,276.91 9.22%

Total 819,613 100.00% 1,595,962,288.67 100.00%

Average Credit Limit (AUD) 6,111.03

0 200,000,000 400,000,000 600,000,000 800,000,000 1,000,000,000

= $0

$0 > and <= $5,000

$5,000 > and <= $10,000

$10,000 > and <= $15,000

> $15,000

0 200,000,000 400,000,000 600,000,000 800,000,000

= $0

$0 > and <= $5,000

$5,000 > and <= $10,000

$10,000 > and <= $15,000

> $15,000


Product Type - Eligible Receivables

Sales Finance Credit Cards

ProductTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

Buyers Edge 23,869 2.91% 32,516,592.31 2.04%

CreditLine 150,707 18.39% 258,548,170.01 16.20%

GEM Visa 119,837 14.62% 358,274,323.78 22.45%

GO 356,964 43.55% 773,365,605.72 48.46%

Total 651,377 79.47% 1,422,704,691.82 89.14%

Credit Cards

ProductTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

28 Degrees 102,120 12.46% 89,623,359.09 5.62%

ECO 1,767 0.22% 2,608,337.58 0.16%

Latitude Master Card 15,958 1.95% 24,583,978.74 1.54%

Latitude Low Rate 4,813 0.59% 14,043,587.72 0.88%

Myer Black 18,366 2.24% 1,348,530.23 0.08%

Myer Visa 25,212 3.08% 41,049,803.49 2.57%

Total 168,236 20.53% 173,257,596.85 10.86%

Retail APR Distribution - Eligible Receivables

Retail APRTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

<=22.5% 135,684 16.55% 150,134,588.31 9.41%

22.5%> and <=28% 183,911 22.44% 420,861,318.63 26.37%

28%> and <=29.5% 356,384 43.48% 771,506,679.49 48.34%

>29.5% 143,634 17.52% 253,459,702.24 15.88%

Total 819,613 100.00% 1,595,962,288.67 100.00%

Weighted Average Retail APR 26.84

Buyers Edge

CreditLine

GEM Visa

GO

28 Degrees

ECO

Latitude Master Card

Latitude Low Rate

Myer Black

Myer Visa

0 200,000,000 400,000,000 600,000,000 800,000,000

<=22.5%

22.5%> and <=28%

28%> and <=29.5%

>29.5%


Delinquencies Distribution - Eligible Receivables

DelinquenciesTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

Current 785,607 95.85% 1,470,343,104.78 92.13%

1-30 days 18,629 2.27% 70,872,383.49 4.44%

31-60 days 5,691 0.69% 21,809,760.42 1.37%

61-90 days 3,066 0.37% 12,212,465.75 0.77%

91-120 days 1,996 0.24% 8,138,279.65 0.51%

121-150 days 1,563 0.19% 6,691,047.46 0.42%

151-180 days 1,359 0.17% 5,259,131.61 0.33%

> 180 days 1,702 0.21% 636,115.51 0.04%

Total 819,613 100.00% 1,595,962,288.67 100.00%

State Distribution - Eligible Receivables

StateTotal Number of

Accounts

Percentage of Total

Number of Accounts

Total Receivables

(AUD)

Percentage of Total

Receivables

NSW 248,876 30.37% 463,226,682.93 29.02%

VIC 192,165 23.45% 363,229,182.72 22.76%

QLD 185,590 22.64% 402,039,868.58 25.19%

SA 53,635 6.54% 104,152,602.96 6.53%

WA 82,117 10.02% 163,831,265.76 10.27%

TAS 19,709 2.40% 39,609,169.90 2.48%

NT 7,637 0.93% 17,900,418.85 1.12%

ACT 17,033 2.08% 29,727,483.52 1.86%

Other 12,851 1.57% 12,245,613.45 0.77%

Total 819,613 100.00% 1,595,962,288.67 100.00%

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

1-30 days 31-60 days 61-90 days 91-120 days 121-150 days 151-180 days

NSW VIC

QLD SA

WA TAS

NT ACT

Other


Latitude Australia Credit Card Master TrustMonthly Investor Report

Report No: 8

Series 2017-1 Notes

Series 2017-1 2017-1 2017-1 2017-1 2017-1 2017-1

Class A1 A2 B C D E

Currency AUD AUD AUD AUD AUD AUD

ISIN AU3FN0034419 AU3FN0034955 AU3FN0034427 AU3FN0034435 AU3FN0034443 AU3FN0034450

Fitch / S&P / DBRS Rating (Original) AAA / AAA / AAA AAA / NR / AAA AA / NR / AA A / NR / A BBB / NR / BBB BB / NR / BB

Fitch / S&P / DBRS Rating (Current) AAA / AAA / AAA AAA / NR / AAA AA / NR / AA A / NR / A BBB / NR / BBB BB / NR / BB

Pool Factor (Original) 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000

Pool Factor (Current) 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000

Pay Frequency Monthly Monthly Monthly Monthly Monthly Monthly

Next Distribution Date 22-Jan-18 22-Jan-18 22-Jan-18 22-Jan-18 22-Jan-18 22-Jan-18

Interest Basis BBSW1M BBSW1M BBSW1M BBSW1M BBSW1M BBSW1M

Status Revolving Period Revolving Period Revolving Period Revolving Period Revolving Period Revolving Period

First Distribution Date 22-May-17 22-May-17 22-May-17 22-May-17 22-May-17 22-May-17

Scheduled Start of Accumulation Period 22-Mar-19 22-Mar-19 22-Mar-19 22-Mar-19 22-Mar-19 22-Mar-19

Expected Redemption Date* 23-Mar-20 23-Mar-20 23-Mar-20 23-Mar-20 23-Mar-20 23-Mar-20

Final Redemption Date 22-Mar-29 22-Mar-29 22-Mar-29 22-Mar-29 22-Mar-29 22-Mar-29

Amortisation Type Soft Bullet Soft Bullet Soft Bullet Soft Bullet Soft Bullet Soft Bullet

* Subject to Extension

Current Period Rates Class A1 Class A2 Class B Class C Class D Class E

Rate (BBSW 1 Month) 1.6400% 1.6400% 1.6400% 1.6400% 1.6400% 1.6400%

Margin 1.2500% 1.8500% 2.4000% 3.0000% 3.7500% 5.2500%

All-in-Rate 2.8900% 3.4900% 4.0400% 4.6400% 5.3900% 6.8900%

Coupon Details Class A1 Class A2 Class B Class C Class D Class E

Interest Due 1,629,247.40 360,426.16 191,263.56 199,647.12 185,445.53 207,492.82

Interest Paid 1,629,247.40 360,426.16 191,263.56 199,647.12 185,445.53 207,492.82

Unpaid Interest 0.00 0.00 0.00 0.00 0.00 0.00

Non-Rating Triggers (as at end of Collection Period)

Minimum Transferor Interest Portfolio Yield Eligible Receivables Balance

[A] Transferor Interest* [A] Average Portfolio Yield* ** 9.71% [A] Eligible Receivables Balance 1,603,910,064.33

[B] Available Originator VFN Excess Amount* [B] Average Expense Rate** 4.34%[B] Minimum Aggregate Principal

Receivables1,588,950,000.00

[C] = [A]+[B] Excess Spread [A] - [B]** 5.37%

[D] Minimum Transferor Interest (AUD)**

Trigger [C] < [D] Trigger [A] < [B] FALSE Trigger [A] < [B] FALSE

Consequence of Trigger Breach Consequence of Trigger Breach Series Pay Out Event Consequence of Trigger Breach Series Pay Out Event

* Average over 30 consecutive days * Includes Investor Defaults

** As % of Average Receivables over the previous 90 days excluding

Cash Available for Investment and Credit Balances

** Average over three periods

Partial Amortisation Event Receivables Trust

Cash Available for Investment in the Receivables Trustee Collection Account is greater than 10% as a percentage of Eligible Receivables Balance*: FALSE

The Average Portfolio Yield** less the Average Expense Rate** is less than 3%: FALSE

The consequences of any of these partial Amortisation Events occurring will be partial Amortisation, as defined in the transaction documents

* On this Determination Date and the five prior Determination Dates

** Same calculation as per Non-Ratings Triggers

FALSE

Note Details

364,700.62

17,216,885.14

17,581,585.76

16,037,554.35

Series Pay Out Event

Series 2017-1 Notes Page 10

Series 2017-1 Cashflow Waterfalls

Series 2017-1 Series 2017-1

Balance of the Series 2017-1 Finance Charge Ledger 11,219,667.69 Retained Principal Collections 0.00

Plus: Eligible Interchange Income 528,515.27 Less: Reallocated Principal Collections 0.00

Plus: Bank Interest 11,257.64 Plus: Shared Principal Collections Draw 0.00

Less: O/S Capitalised Finance Charges Adjustment 0.00 Plus: Principal Loss (Make-Up) 3,984,361.64

Principal Funding and Excess Principal Funding Investment Proceeds 0.00 Plus: Series Additional Principal 0.00

Step-Up Reserve Ledger Draw Amount and Release 0.00 3,984,361.64

Accumulation Reserve Investment Proceeds and Draw 0.00

Accumulation Reserve Excess Amount 0.00

Release of Accumulation Reserve 0.00

Series 2017-1 Net Qualifying Swap Receipt 0.00

Permitted Investments Proceeds 0.00

Originator VFN Series Reallocated Principal Collections 0.00

Series 2017-1 Reallocated Principal Collections 0.00

Originator VFN Excess Spread Allocation 0.00

Group One Series 2017-1 Excess Finance Charges 0.00

Series 2017-1 Available Funds 11,759,440.60


Series 2017-1 Available Funds: 11,759,440.60 Available Retained Principal 3,984,361.64

Income Unitholder 0.00 Revolving Period TRUE

Investor Senior Trust Expenses 9,030.90 Shared Principal Collections 0.00

Investor Trust Manager Payment Amount 42,099.99 Trustee Acquisition Ledger 3,984,361.64

Investor Senior Servicing Fee 826,449.36

Series 2017-1 Qualifying Swap Amount 0.00 Controlled Accumulation Period FALSE

Class A1 Monthly Distribution Amount & Subordinated Qualifying 1,686,329.95 Rapid Amortisation Period FALSE

Class A1 Investor Default Amount & Charge-offs 2,609,895.37 Scheduled Amortisation Period FALSE

Class A2 Investor Default Amount & Charge-offs 478,106.65

Class A2 Monthly Distribution Amount Due 360,426.16 Class A1 Monthly Principal Amount 0.00

Class B Investor Default Amount & Charge-offs 219,171.85 Class A2 Monthly Principal Amount 0.00

Class B Monthly Distribution Amount 191,263.56 Class B Monthly Principal Amount 0.00

Class C Investor Default Amount & Charge-offs 199,195.25 Class C Monthly Principal Amount 0.00

Class C Monthly Distribution Amount 199,647.12 Class D Monthly Principal Amount 0.00

Class D Investor Default Amount & Charge-offs 159,280.10 Class E Monthly Principal Amount 0.00

Class D Monthly Distribution Amount 185,445.53 Principal Funding Ledger 0.00

Class E Investor Default Amount & Charge-offs 139,417.65 Rapid Amortisation Period FALSE

Class E Monthly Distribution Amount Due 207,492.82 Available Principal Funding Ledger 0.00

Series 2017-1 Originator VFN Subordination Charge-Offs 179,294.76

Accumulation Reserve Deposit 0.00 Class A1 Principal Repayment 0.00

Step-Up Reserve Required Amount Deposit 0.00 Class A2 Principal Repayment 0.00

Series 2017-1 Investor Excess Spread 4,066,893.56 Class B Principal Repayment 0.00

Class C Principal Repayment 0.00

Class D Principal Repayment 0.00

Class E Principal Repayment 0.00

Sources of Funds (Finance Charges) Sources of Funds (Principal Collections)

Series 2017-1 Available Retained Principal Collections

Application of Available Funds Application of Principal Collections


Series 2017-1 Bank Account Ledgers


Opening Balance Finance Charge Collections Ledger 0.00 O/B Principal Funding Ledger 0.00

Plus: Series 2017-1 Finance Charge Collections Deposit 11,219,667.69 Deposits from Available Retained Principal Collections 0.00

Less: Finance Charge Advance Payment 0.00 Replacement Series Proceeds 0.00

Less: Transfer to Series 2017-1 Cashflow Waterfall (11,219,667.69) Release Principal Funding Ledger 0.00

Closing Balance Finance Charge Collections Ledger 0.00 C/B Principal Funding Ledger 0.00

Required amount (if any)


Opening Balance Series 2017-1 Principal Collections Ledger 0.00 O/B Accumulation Reserve Ledger 0.00

Plus: Deposit from Principal Collections Ledger 0.00 Deposits from Available Funds 0.00

Less: Series 2017-1 Reallocated Principal Collections Draw 0.00 Accumulation Draw Amount 0.00

Less: Series 2017-1 Shared Principal Collections Draw 0.00 Accumulation Excess Release 0.00

Less: Application through Series 2017-1 Investor Waterfall 0.00 Release of Accumulation Reserve 0.00

Closing Balance Series 2017-1 Principal Collections Ledger 0.00 C/B Accumulation Reserve Ledger 0.00

Required amount (if any) Required Accumulation Amount 0.00

Accumulation excess (shortfall) 0.00

Finance Charge Collections Ledger Principal Funding Ledger

Principal Collections Ledger Accumulation Reserve Ledger



Report No: 8

Series 2017-2 Notes

Series 2017-2 2017-2 2017-2 2017-2 2017-2 2017-2

Class A1 A2 B C D E

Currency AUD AUD AUD AUD AUD AUD

ISIN AU3FN0037826 AU3FN0037834 AU3FN0037842 AU3FN0037859 AU3FN0037867 AU3FN0037875

Fitch / S&P / DBRS Rating (Original) AAA / AAA / AAA AAA / NR / AAA AA / NR / AA A / NR / A BBB / NR / BBB BB / NR / BB

Fitch / S&P / DBRS Rating (Current) AAA / AAA / AAA AAA / NR / AAA AA / NR / AA A / NR / A BBB / NR / BBB BB / NR / BB

Pool Factor (Original) 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000

Pool Factor (Current) 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000

Pay Frequency Monthly Monthly Monthly Monthly Monthly Monthly

Next Distribution Date 22-Jan-18 22-Jan-18 22-Jan-18 22-Jan-18 22-Jan-18 22-Jan-18

Interest Basis BBSW1M BBSW1M BBSW1M BBSW1M BBSW1M BBSW1M

Status Revolving Period Revolving Period Revolving Period Revolving Period Revolving Period Revolving Period

First Distribution Date 23-Oct-17 23-Oct-17 23-Oct-17 23-Oct-17 23-Oct-17 23-Oct-17

Scheduled Start of Accumulation Period 22-Aug-21 22-Aug-21 22-Aug-21 22-Aug-21 22-Aug-21 22-Aug-21

Expected Redemption Date* 22-Aug-22 22-Aug-22 22-Aug-22 22-Aug-22 22-Aug-22 22-Aug-22

Final Redemption Date 22-Aug-31 22-Aug-31 22-Aug-31 22-Aug-31 22-Aug-31 22-Aug-31

Amortisation Type Soft Bullet Soft Bullet Soft Bullet Soft Bullet Soft Bullet Soft Bullet

* Subject to Extension

Current Period Rates Class A1 Class A2 Class B Class C Class D Class E

Rate (BBSW 1 Month) 1.6400% 1.6400% 1.6400% 1.6400% 1.6400% 1.6400%

Margin 1.2000% 1.7000% 2.2500% 2.7500% 3.5000% 5.0000%

All-in-Rate 2.8400% 3.3400% 3.8900% 4.3900% 5.1400% 6.6400%

Coupon Details Class A1 Class A2 Class B Class C Class D Class E

Interest Due 800,529.86 172,467.53 92,081.10 94,445.14 88,422.08 99,982.03

Interest Paid 800,529.86 172,467.53 92,081.10 94,445.14 88,422.08 99,982.03

Unpaid Interest 0.00 0.00 0.00 0.00 0.00 0.00

Non-Rating Triggers (as at end of Collection Period)


[A] Transferor Interest* [A] Average Portfolio Yield* ** 9.33% [A] Eligible Receivables Balance 1,603,910,064.33

[B] Available Originator VFN Excess Amount* [B] Average Expense Rate** 4.18%

[B] Minimum Aggregate Principal

Receivables 1,588,950,000.00

[C] = [A]+[B] Excess Spread [A] - [B]** 5.15%

[D] Minimum Transferor Interest (AUD)**

Trigger [C] < [D] Trigger [A] < [B] FALSE Trigger [A] < [B] FALSE

Consequence of Trigger Breach Consequence of Trigger Breach Series Pay Out Event Consequence of Trigger Breach Series Pay Out Event


** As % of Average Receivables over the previous 90 days excluding

Cash Available for Investment and Credit Balances


Partial Amortisation Event Receivables Trust

Cash Available for Investment in the Receivables Trustee Collection Account is greater than 10% as a percentage of Eligible Receivables Balance*: FALSE





FALSE

Note Details

364,700.62

17,216,885.14

17,581,585.76

16,037,554.35

Series Pay Out Event


Series 2017-2 Cashflow Waterfalls


Balance of the Series 2017-2 Finance Charge Ledger 5,609,833.84 Retained Principal Collections 0.00

Plus: Eligible Interchange Income 264,257.63 Plus: Capitalised Fee Adjustment 0.00

Plus: Bank Interest (Net of Fees) 5,628.82 Less: Reallocated Principal Collections 0.00

Less: O/S Capitalised Finance Charges Adjustment 0.00 Plus: Shared Principal Collections Draw 0.00

Principal Funding and Excess Principal Funding Investment Proceeds 0.00 Plus: Principal Loss (Make-Up) 1,992,180.82

Step-Up Reserve Ledger Draw Amount and Release 0.00 Plus: Series Additional Principal Collections (Originator VFN) 0.00

Accumulation Reserve Investment Proceeds and Draw Amount 0.00 1,992,180.82

Accumulation Reserve Excess Amount 0.00

Release of Accumulation Reserve 0.00

Series 2017-2 Net Qualifying Swap Receipt 0.00

Permitted Investments Proceeds 0.00


Series 2017-2 Reallocated Principal Collections 0.00

Originator VFN Excess Spread Allocation 0.00

Group One Series 2017-2 Excess Finance Charges 0.00

Series 2017-2 Available Funds 5,879,720.30


Series 2017-2 Available Funds: 5,879,720.30 Available Retained Principal 1,992,180.82


Investor Senior Trust Expenses 4,515.45 Shared Principal Collections 0.00

Investor Trust Manager Payment Amount 21,050.00 Trustee Acquisition Ledger 1,992,180.82

Investor Senior Servicing Fee 413,224.68

Series 2017-2 Qualifying Swap Amount 0.00 Controlled Accumulation Period FALSE

Class A1 Monthly Distribution Amount & Subordinated Qualifying 829,071.14 Rapid Amortisation Period FALSE

Class A1 Investor Default Amount & Charge-offs 1,304,947.69 Scheduled Amortisation Period FALSE

Class A2 Investor Default Amount & Charge-offs 239,053.33

Class A2 Monthly Distribution Amount Due 172,467.53 Class A1 Monthly Principal Amount 0.00

Class B Investor Default Amount & Charge-offs 109,585.93 Class A2 Monthly Principal Amount 0.00

Class B Monthly Distribution Amount 92,081.10 Class B Monthly Principal Amount 0.00

Class C Investor Default Amount & Charge-offs 99,597.63 Class C Monthly Principal Amount 0.00

Class C Monthly Distribution Amount 94,445.14 Class D Monthly Principal Amount 0.00

Class D Investor Default Amount & Charge-offs 79,640.05 Class E Monthly Principal Amount 0.00

Class D Monthly Distribution Amount 88,422.08 Principal Funding Ledger 0.00

Class E Investor Default Amount & Charge-offs 69,708.83 Rapid Amortisation Period FALSE

Class E Monthly Distribution Amount Due 99,982.03 Available Principal Funding Ledger 0.00

Series 2017-2 Originator VFN Subordination Charge-Offs 89,647.38

Accumulation Reserve Deposit 0.00 Class A1 Principal Repayment 0.00

Step-Up Reserve Required Amount Deposit 0.00 Class A2 Principal Repayment 0.00

Series 2017-2 Investor Excess Spread 2,072,280.33 Class B Principal Repayment 0.00

Class C Principal Repayment 0.00

Class D Principal Repayment 0.00

Class E Principal Repayment 0.00

Sources of Funds (Finance Charges) Sources of Funds (Principal Collections)

Series 2017-2 Available Retained Principal Collections

Application of Available Funds Application of Principal Collections


Series 2017-2 Bank Account Ledgers


Opening Balance Series 2017-2 Finance Charge Collections Ledger 0.00 O/B Principal Funding Ledger 0.00

Plus: Series 2017-2 Finance Charge Collections Deposit 5,609,833.84 Deposits from Available Retained Principal Collections 0.00

Less: O/S Capitalised Finance Charges Adjustment 0.00 Replacement Series Proceeds 0.00

Less: Finance Charge Advance Payment 0.00 Release Principal Funding Ledger 0.00

Less: Transfer to Series 2017-2 Cashflow Waterfall (5,609,833.84) C/B Principal Funding Ledger 0.00

Closing Balance Series 2017-2 Finance Charge Collections Ledger 0.00


Opening Balance Series 2017-2 Principal Collections Ledger 0.00 O/B Accumulation Reserve Ledger 0.00

Plus: Deposit from Principal Collections Ledger 0.00 Deposits from Available Funds 0.00

Plus: O/S Capitalised Finance Charges Adjustment 0.00 Accumulation Draw Amount 0.00

Less: Series 2017-2 Reallocated Principal Collections Draw 0.00 Accumulation Excess Release 0.00

Less: Series 2017-2 Shared Principal Collections Draw 0.00 Release of Accumulation Reserve 0.00

Less: Application through Series 2017-2 Investor Waterfall 0.00 C/B Accumulation Reserve Ledger 0.00

Closing Balance Series 2017-2 Principal Collections Ledger 0.00 Required Accumulation Amount 0.00

Accumulation excess (shortfall) 0.00

Finance Charge Collections Ledger Principal Funding Ledger

Principal Collections Ledger Accumulation Reserve Ledger



Report No:

8

Series 2017-VFN Notes Series 2017-VFN Cashflow Waterfalls

Sources of Funds (Finance Charges) Series 2017-VFNSeries 2017-VFN Series 2017-VFN Finance Charge Collections Ledger 506,894.49

Class N/A Plus: Eligible Interchange Income 23,877.84

Currency AUD Plus: Bank Interest 508.61

ISIN N/A Less: O/S Capitalised Finance Charges Adjustment 0.00

Fitch Rating (Original) A Series 2017-VFN Net Qualifying Swap Receipt 0.00

Fitch Rating (Current) A Originator VFN Series Reallocated Principal Collections 0.00

Pool Factor (Original) 0.7500 Series 2017-VFN Reallocated Principal Collections 0.00

Pool Factor (Current) 0.1159 Originator VFN Series Excess Spread Allocation 0.00

Pay Frequency Monthly Group One Series 2017-VFN Excess Finance Charges 0.00

Next Distribution Date 22-Jan-18 Series 2017-VFN Available Funds 531,280.94

Interest Basis BBSY1M

Status Revolving Period Application of Available Funds Series 2017-VFNFirst Distribution Date 22-May-17 Series 2017-VFN Available Funds: 531,280.94

Expected Redemption Date* 23-Mar-20

Final Redemption Date 22-Mar-31 Income Unitholder 0.00

Amortisation Type Soft Bullet 2017-VFN Senior Trust Expenses 169.72

* Subject to Extension 2017-VFN Trust Manager Payment Amount 669.18

2017-VFN Senior Servicing Fee 37,338.24

Current Period Rates 2017-VFN Qualifying Swap Amount 0.00

Rate (BBSY1M) 1.6900% 2017-VFN Monthly Distribution Amount 43,888.87

Margin 1.6000% Series 2017-VFN Undrawn Fee Paid 44,241.59

All-in-Rate 3.2900% Subordinated Qualifying Swap Amount 0.00

2017-VFN Investor Default Amount 171,909.50

2017-VFN Investor Charge-Off 0.00

2017-VFN Originator VFN Subordination Charge-Offs 25,687.63Series 2017-VFN Bank Account Ledgers 2017-VFN Excess Spread 207,376.22

Finance Charge Collections Ledger Series 2017-VFN Sources of Funds (Principal Collections) Series 2017-VFNBalance 2017-VFN Finance Charge Collections Ledger 0.00 Retained Principal Collections 0.00

Plus: 2017-VFN Finance Charge Collections Deposit 506,894.49 Less: Reallocated Principal Collections Draw 0.00

Less: Finance Charge Advance Payment 0.00 Plus: Shared Principal Collections Draw 0.00

Less: Transfer to 2017-VFN Cashflow Waterfall (506,894.49) Plus: Principal Loss (Make-Up) 197,597.13

Balance 2017-VFN Finance Charge Collections Ledger 0.00 Plus: Series Additional Principal Collections 0.00

Series 2017-VFN Available Retained Principal Collections 197,597.13

Principal Collections Ledger Series 2017-VFN Application of Principal Collections Series 2017-VFNBalance Series 2017-VFN Principal Collections Ledger 0.00 Series 2017-VFN Available Retained Principal Collections 197,597.13

Plus: Deposit from Principal Collections Ledger 0.00

Less: 2017-VFN Reallocated Principal Collections Draw 0.00 Revolving Period TRUE

Less: 2017-VFN Shared Principal Collections Draw 0.00 Allocated Shared Principal Collections (VFN) 0.00

Less: Application through Series 2017-1 VFN waterfall 0.00 Transfer to Trustee Acquisition Ledger 197,597.13

Balance Series 2017-VFN Principal Collections Ledger 0.00

Series 2017-VFN Rapid Amortisation Period FALSE

Series 2017-VFN Scheduled Amortisation Period FALSE

Series 2017-VFN Optional Amortisation Period TRUE

Series 2017-VFN Monthly Principal Amount 0.00

Allocated Shared Principal Collections (VFN) 0.00

Transfer to Trustee Acquisition Ledger 0.00

Note Details

Series 2017-VFN Note Page 16

Non-Rating Triggers (as at the end of the Collection Period)


[A] Transferor Interest* 364,700.62 [A] Average Portfolio Yield* ** 17.12% [A] Eligible Receivables Balance 1,603,910,064.33

[B] Available Originator VFN Excess Amount* 17,216,885.14 [B] Average Expense Rate** 6.51%

[B] Minimum Aggregate Principal

Receivables 1,588,950,000.00

[C] = [A]+[B] 17,581,585.76 Excess Spread [A] - [B]** 10.61%

[D] Minimum Transferor Interest (AUD)** 16,037,554.35

Trigger [C] < [D] FALSE Trigger [A] < [B] FALSE Trigger [A] < [B] FALSE

Consequence of Trigger Breach Series Pay Out Event Consequence of Trigger Breach Series Pay Out Event Consequence of Trigger Breach Series Pay Out Event


** As % of Average Receivables over the previous 90 days

excluding Cash Available for Investment and Credit Balances


Partial Amortisation Event Receivables TrustCash Available for Investment in the Receivables Trustee Collection Account is greater than 10% as a percentage of Eligible Receivables Balance*: FALSE





Series 2017-VFN Note Page 17


Report No:

8

Originator VFN Notes

Series Originator VFN Rate (BBSY1M) N/A

Class N/A Fixed Rate 10.1244%

Currency AUD All-in-Rate 10.1244%

ISIN N/A

Fitch / S&P / DBRS Rating (Original) Not Rated Originator VFN Components AUD

Fitch / S&P / DBRS Rating (Current) Not Rated Series 2017-1 Subordination 47,120,000.00

Pool Factor (Original) 1.0000 Series 2017-2 Subordination 23,560,000.00

Pool Factor (Current) 1.3289 2017-VFN Subordination 1,731,600.00

Pay Frequency Monthly Excess Amount 20,321,066.44

Next Distribution Date 22-Jan-18 Total 92,732,666.44

Interest Basis Fixed Rate

Status Revolving Period

First Distribution Date 22-May-17 Note Size (at beginning of Interest Period) 94,518,092.91

Scheduled Start of Accumulation Period N/A

Scheduled Redemption Date* N/A Interest Due 2,636,638.40

Final Redemption Date 06-Apr-48 Interest Paid 1,278,955.56

Amortisation Type Soft Bullet Unpaid Interest 1,357,682.84

Originator VFN Series Cashflow Waterfalls

Sources of Funds (Finance Charges) Originator VFN Series Sources of Funds (Principal Collections) Originator VFN Series

Balance Originator VFN Finance Charge Collections Ledger 1,071,875.97 Retained Principal Collections 0.00

Plus: Eligible Interchange Income 50,491.94 Plus: Shared Principal Collections Draw 0.00

Plus: Bank Interest 1,075.50 Plus: Principal Loss (Make-Up) 0.00

Less: Capitalised Fee Adjustment 0.00 Available Required Retained Principal Collections 0.00

Originator VFN Series Net Qualifying Swap Receipts 0.00

Permitted Investment Proceeds 0.00


Group One Series Originator VFN Excess Finance Charges 0.00

Series 2017-VFN Available Funds 1,123,443.42

Application of Available Funds Originator VFN Series Application of Principal Collections Originator VFN Series

Originator VFN Series Available Funds: 1,123,443.42 Originator VFN Available Retained Principal Collections 0.00


Originator VFN Senior Trust Expenses 854.49 Allocated Shared Principal Collections (Originator) 0.00

Originator VFNTrust Manager Payment 3,979.21 Transfer to Trustee Acquistion Ledger 0.00

Originator VFN Senior Servicing Fee 78,955.21

Originator VFN Qualifying Swap Amount 0.00 Originator VFN Series Rapid Amortisation Event FALSE

Originator VFN Additional Coupon 5,395.33 Originator VFN Series Optional Amortisation Event FALSE

Originator VFN Excess Amount Monthly Distribution 195,998.39

Default Amount Originator VFN Excess Amount 0.00 Originator VFN Monthly Principal Amount 0.00

Originator VFN Excess Amount Charge-Off 0.00 Transfer to Trustee Acquisition Ledger 0.00

Investor Series Charge-Offs 0.00

Originator VFN Subordination Charge-Offs 0.00

Transferor (Eligible) Charge-Offs 0.00

Supported Group One Finance Charge Shortfall 0.00

Originator VFN Series Excess Spread 838,260.78

Originator VFN Series Bank Account Ledgers

Finance Charge Collections Ledger Originator VFN Series Principal Collections Ledger Originator VFN Series

Balance Originator VFN Finance Charge Collections Ledger 0.00 Balance Originator VFN Principal Collections Ledger 0.00

Plus: Originator VFN Finance Charge Collections Deposit 1,071,875.97 Plus: Deposit from Principal Collections Ledger 0.00

Less: Finance Charge Advance Payment 0.00 Less: Originator VFN Reallocated Principal Collections 0.00

Less: Transfer to Originator VFN Series Cashflow Waterfall (1,071,875.97) Less: Transfer to Trustee Acquisition Ledger 0.00

Balance Originator VFN Finance Charge Collections Ledger 0.00 Balance Series 2017-VFN Principal Collections Ledger 0.00

Note Details Current Period Rates

Coupon Details

Originator VFN Note Page 18

Documents

Latitude Australia Credit Card Master Trust … Australia Credit Card Master Trust Monthly Investor Report Report No: 8 Collection Period Start 01-Nov-17 Collection Period End 30-Nov-17