Kinto UK Limited

The principal activity of the Company is the provision of contract hire and contract purchase arrangements for motor vehicles and fleet management services in the United Kingdom, and the disposal of contract hire vehicles on termination of contract.Within the provision of contract hire vehicles the Company acts as an agent for third party funders for both rental and disposal of vehicles, as well as being the principal provider.Following its acquisition by the Toyota Motor Corporation in 2019, the Company changed its funding model and no longer utilises third party funders for vehicles supplied to customers under Master Lease Agreements (for agreements entered into from 1 January 2020). The Company is the primary lessor (thus takes full credit risk),carries the vehicles as assets on the balance sheet and funds primarily through Toyota Group loans. Agreements entered into before 1 January 2020 were on the previous funding model of using agency funding (where the funder takes the credit risk) and this portfolio is in run-off (average agreement length is 3 years).The Company also offers a product called KINTO ONE which is fully maintained contract hire aimed at smaller businesses and individuals.