Mercedes-Benz 

Auto Lease 

T

rust 2025-B

Investor Report

Collection Period Ended  

28-Feb-2026

Dates

Page 1 of 7

Amounts in USD

Collection Period No.

Collection Period (from... to)

Determination Date

Record Date

Payment Date

Interest Period of the Class A-1, A-2B Notes (from... to)

Interest Period of the Class A-2A, A-3 and A-4 Notes (from... to)

5

1-Feb-2026

12-Mar-2026

13-Mar-2026

16-Mar-2026

17-Feb-2026

15-Feb-2026

28-Feb-2026

16-Mar-2026

15-Mar-2026

Actual/360 Days

27

30/360 Days

30

Summary

Class A-1 Notes

Class A-2A Notes

Class A-2B Notes

Class A-3 Notes

Class A-4 Notes

T

otal Note Balance

Initial

Balance

 300,000,000.00

 160,000,000.00

 315,000,000.00

 475,000,000.00

 77,500,000.00

 1,327,500,000.00

Beginning

Balance

 118,031,859.39

 160,000,000.00

 315,000,000.00

 475,000,000.00

 77,500,000.00

 1,145,531,859.39

Ending

Balance

 83,040,780.99

 160,000,000.00

 315,000,000.00

 475,000,000.00

 77,500,000.00

1,1

10,540,780.99

Principal

Payment

 34,991,078.40

 0.00

 0.00

 0.00

 0.00

 34,991,078.40

Principal per $1000

Face Amount

 116.636928

 0.000000

 0.000000

 0.000000

 0.000000

Note

Factor

 0.276803

 1.000000

 1.000000

 1.000000

 1.000000

Overcollateralization

T

otal Securitization 

V

alue

present value of lease payments

present value of Base Residual 

V

alue

Initial Overcollateralization Amount

T

arget Overcollateralization Amount

Current Overcollateralization Amount

 172,500,165.46

 1,500,000,165.46

 720,980,956.19

 779,019,209.27

Amount

 172,500,165.46

 195,000,021.51

 195,000,021.51

 195,000,021.51

 1,340,531,880.90

 581,509,209.87

 759,022,671.03

Percentage

 11.50%

 13.00%

 13.00%

 195,000,021.51

 1,305,540,802.50

 555,365,143.17

 750,175,659.33

Mercedes-Benz 

Auto Lease 

T

rust 2025-B

Investor Report

Collection Period Ended  

28-Feb-2026

Class A-1 Notes

Class A-2A Notes

Class A-2B Notes

Class A-3 Notes

Class A-4 Notes

T

otal

Interest Rate

 0.000000%

 3.860000%

 4.028190%

 3.880000%

 3.930000%

Interest Payment

 0.00

 514,666.67

 951,659.89

 1,535,833.33

 253,812.50

 3,255,972.39

Interest per

$1000 Face 

Amount

 0.000000

 3.216667

 3.021143

 3.233333

 3.275000

Interest & Principal

Payment

 34,991,078.40

 514,666.67

 951,659.89

 1,535,833.33

 253,812.50

$38,247,050.79

Page 2 of 7

Amounts in USD

Interest & Principal Payment

per $1000 Face Amount

 116.636928

 3.216667

 3.021143

 3.233333

 3.275000

Mercedes-Benz 

Auto Lease 

T

rust 2025-B

Investor Report

Collection Period Ended

28-Feb-2026

Initial

Balance

Beginning

Balance

Ending

Balance

Page 3 of 7

Amounts in USD

Exchange Note Balance

 1,425,000,157.19

 1,265,531,872.63

 1,230,540,794.23

A

vailable 2025-B Collections

Lease Payments Received

Net Sales Proceeds-early terminations (incl Defaulted Leases)

Net Sales Proceeds-scheduled terminations

   Excess wear and tear included in Net Sales Proceeds

   Excess mileage included in Net Sales Proceeds

Subtotal

Repurchase Payments

Advances made by the Servicer

Investment Earnings

T

otal 

A

vailable Collections

A

vailable Funds 

ABS Notes

T

otal Exchange Note Payments

Reserve Account Draw Amount

T

otal 

A

vailable Funds

 25,041,279.90

 17,590,502.24

 5,583,797.85

 12,093.53

 62,663.32

 48,215,579.99

 0.00

 0.00

 121,557.69

 48,337,137.68

 39,146,241.38

 0.00

 39,146,241.38

Distribution on the Exchange Note

(1)

T

otal Servicing Fee

Nonrecoverable Advances to the Servicer

(2) Exchange Note Interest Distributable Amount

(3.94%)

(3) Exchange Note Principal Distributable Amount

(4) Any amounts by which the sum payable pursuant to Section 8.03(a)(i)

through (vii) of the Indenture (or, if applicable, pursuant to Section

5.04(b)(i)through (vii) of the Indenture) exceed the sum of the Exchange

Note Interest Distributable Amount and the Exchange Note Principal

Distributable Amount

(5) Remaining Funds Payable

T

otal Distribution

Distributions 

ABS Notes

(1)

T

otal Trustee Fees and any Asset Representations Reviewer fees

(max. $250,000 p.a.)

(2) Interest Distributable Amount Class 

A Notes

(3) Priority Principal Distribution Amount

(4)

T

o Reserve Fund to reach the Reserve Fund Required Amount

(5) Regular Principal Distribution Amount

(6) Additional Servicing Fee and Transition Costs

(7)

T

otal Trustee Fees and any Asset Representations Reviewer fees

[not previously paid under (1)]

(8) Excess Collections to Certificateholders

T

otal Distribution

 1,117,109.90

 0.00

 4,155,162.98

 34,991,078.40

 0.00

 8,073,786.40

 48,337,137.68

 0.00

 3,255,972.39

 0.00

 0.00

 34,991,078.40

 0.00

 0.00

 899,190.59

 39,146,241.38

Mercedes-Benz 

Auto Lease 

T

rust 2025-B

Investor Report

Collection Period Ended  

28-Feb-2026

Distribution Detail

Page 4 of 7

Amounts in USD

T

otal Servicing Fee

T

otal Trustee Fee

Monthly Interest Distributable Amount

thereof on Class A-1 Notes

thereof on Class A-2A Notes

thereof on Class A-2B Notes

thereof on Class A-3 Notes

thereof on Class A-4 Notes

Interest Carryover Shortfall Amount

thereof on Class A-1  Notes

thereof on Class A-2A  Notes

thereof on Class A-2B  Notes

thereof on Class A-3  Notes

thereof on Class A-4  Notes

Interest Distributable Amount Class A

 Notes

Priority Principal Distribution Amount

Regular Principal Distribution Amount

Principal Distribution Amount

Amount Due

 1,117,109.90

 0.00

 3,255,972.39

 0.00

 514,666.67

 951,659.89

 1,535,833.33

 253,812.50

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 3,255,972.39

 0.00

 34,991,078.40

 34,991,078.40

Amount Paid

 1,117,109.90

 0.00

 3,255,972.39

 0.00

 514,666.67

 951,659.89

 1,535,833.33

 253,812.50

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 3,255,972.39

 0.00

 34,991,078.40

 34,991,078.40

Shortfall

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

 0.00

Mercedes-Benz 

Auto Lease 

T

rust 2025-B

Investor Report

Collection Period Ended  

28-Feb-2026

Page 5 of 7

Amounts in USD

Reserve Fund and Investment Earnings

Reserve Fund

Reserve Fund Required Amount

Reserve Fund Amount - Beginning Balance

  plus top up Reserve Fund up to the Required Amount

  plus Net Investment Earnings for the Collection Period

  minus Net Investment Earnings

  minus Reserve Fund Draw Amount

Reserve Fund Amount - Ending Balance

Reserve Fund Deficiency

 3,750,000.41

 3,750,000.41

 0.00

 9,351.62

 9,351.62

 0.00

 3,750,000.41

 0.00

Investment Earnings

Net Investment Earnings on the Reserve Fund

Net Investment Earnings on the Exchange Note

   Collection Account

Investment Earnings for the Collection Period

 9,351.62

 112,206.07

 121,557.69

Notice to Investors

Mercedes-Benz 

Auto Lease 

T

rust 2025-B

Investor Report

Collection Period Ended  

28-Feb-2026

Page 6 of 7

Amounts in USD

Pool Statistics

Pool Data

Cutoff Date Securitization 

V

alue

Securitization 

V

alue beginning of Collection Period

Principal portion of lease payments

T

erminations- Early

T

erminations- Scheduled

Repurchase Payment (excluding interest)

Gross Losses

Securitization 

V

alue end of Collection Period

Pool Factor

W

eighted 

A

verage Securitization Rate

W

eighted 

A

verage Remaining 

T

erm (months)

W

eighted 

A

verage Seasoning (months)

Aggregate Base Residual 

V

alue

Cumulative Turn-in Ratio

Proportion of base prepayment assumption realized life to date

Actual lifetime prepayment speed

Delinquency Profile

Delinquency Profile *

Current

31-60 

Days 

Delinquent

61-90 

Days 

Delinquent

91-120 Days Delinquent

T

otal

Amount

 1,500,000,165.46

 1,340,531,880.90

 14,116,272.04

 14,091,543.78

 4,646,181.63

 0.00

 2,137,080.95

 1,305,540,802.50

 87.04%

As of Cutoff Date

 10.80%

 28.46

 12.25

 991,707,490.95

Amount **

 1,300,608,788.69

 3,853,405.90

 712,217.41

 366,390.50

 1,305,540,802.50

Number of Leases

 29,593

 27,791

 27,298

Current

 10.80%

 24.37

 16.18

 914,285,314.99

 50.86%

 189.77%

 0.70%

Number of Leases

 27,197

79

15

7

 27,298

Percentage

 99.62%

 0.30%

 0.05%

 0.03%

 100.00%

Delinquency 

T

rigger

60+ Delinquency Leases to EOP Aggregate Securitization 

V

alue

Delinquency Trigger occurred

 5.684%

 0.083%

No

 *A lease is not considered delinquent if the amount past due is less than

10% of the payment due under such lease

**Based on the actual Securitization 

V

alue of the respective leases

Mercedes-Benz 

Auto Lease 

T

rust 2025-B

Investor Report

Collection Period Ended  

28-Feb-2026

Loss Statistics

Page 7 of 7

Amounts in USD

Current

Credit Loss

Amount

Number of Leases

Cumulative

Amount

Number of Leases

Securitization 

V

alue of Defaulted Leases, Beg of Collection Period

Liquidation Proceeds

Recoveries

Principal Net Credit Loss / (Gain)

Net Credit Loss / (Gain) as % of 

A

verage Securitization 

V

alue (annualized):

Current Collection Period

Prior Collection Period

Second Prior Collection Period

Third Prior Collection Period

Four Month 

A

verage

 1,707,335.05

 1,122,030.75

 144,553.87

 440,750.43

 0.400%

(0.100%)

(0.011%)

0.045 %

 0.084%

32

 7,215,600.44 

151

 6,413,306.69

 354,339.26

 447,954.49

Cumulative Net Credit Loss / (Gain) as % of Cutoff Date Securitization 

V

alue

A

verage Net Credit Loss / (Gain)

 0.030%

 2,966.59

Current

Residual Loss

Amount

Number of Leases

Cumulative

Amount

Number of Leases

Securitization 

V

alue of Liquidated Leases, Beg of Collection Period

Sales Proceeds and Other Payments Received

Residual Loss / (Gain)

Residual Loss / (Gain) as % of 

A

verage Securitization 

V

alue (annualized):

Current Collection Period

Prior Collection Period

Second Prior Collection Period

Third Prior Collection Period

Four Month 

A

verage

 19,167,471.31

 21,606,419.31

(2,438,948.00)

(2.212)%

(1.814%)

(1.693%)

(1.621%)

(1.835)%

461

 90,370,847.31 

 2,142

 102,159,553.50

(11,788,706.19)

Cumulative Residual Loss / (Gain) as % of Cutoff Date Securitization 

V

alue

A

verage Residual Loss / (Gain)

(0.786)%

(5,503.60)

Mercedes-Benz Auto Lease Trust 2025-B 10-D