# EDGAR Filing Document

**Accession Number:** 0001724786
**File Stem:** 0001104659-25-067881
**Filing Date:** 2025-7
**Character Count:** 30600
**Document Hash:** 8edbc7457eb952ea05193b2240fc7741
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-067881.hdr.sgml**: 20250715

**ACCESSION NUMBER**: 0001104659-25-067881

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250715

**DATE AS OF CHANGE**: 20250715

**ABS ASSET CLASS**: Credit card

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Synchrony Card Funding, LLC
- **CENTRAL INDEX KEY:** 0001724786
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 823295851
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-224689
- **FILM NUMBER:** 251122981

**BUSINESS ADDRESS:**
- **STREET 1:** 777 LONG RIDGE ROAD
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** (203) 585-2352

**MAIL ADDRESS:**
- **STREET 1:** 777 LONG RIDGE ROAD
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Synchrony Card Issuance Trust
- **CENTRAL INDEX KEY:** 0001724789
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-224689-01
- **FILM NUMBER:** 251122982

**BUSINESS ADDRESS:**
- **STREET 1:** 777 LONG RIDGE ROAD
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** (203) 585-2352

**MAIL ADDRESS:**
- **STREET 1:** 777 LONG RIDGE ROAD
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM 10-D**

**ASSET-BACKED ISSUER**

**DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

---

| | |
|:---|:---|
| For the monthly distribution period from | **June 1, 2025 to June 30, 2025** |

---

---

| | |
|:---|:---|
| Commission File Number of issuing entity: | **333-224689-01, 333-257355-01, 333-280854-01** |
| Central Index Key Number of issuing entity: | **0001724789** |

---

---

| |
|:---|
| **Synchrony Card Issuance Trust** |
| *(Exact Name of issuing entity as specified in its charter)* |

---

---

| | |
|:---|:---|
| Commission File Number of depositor: | **333-224689, 333-257355, 333-280854** |
| Central Index Key Number of depositor: | **0001724786** |

---

---

| |
|:---|
| **Synchrony Card Funding, LLC** |
| *(Exact Name of Registrant as Specified in its Charter)* |

---

---

| |
|:---|
| **Synchrony Bank** |
| *(Exact Name of Sponsor as Specified in its Charter)* |
| *Central Index Key Number of Sponsor:* 0001602566 |

---

---

| |
|:---|
| **Delaware** |
| *(State or Other Jurisdiction of Incorporation or organization of the issuing entity)* |

---

---

| |
|:---|
| **82-3295851 (Synchrony Card Funding, LLC) 32-649512 (Synchrony Card Issuance Trust)** |
| *(I.R.S. Employer Identification No.)* |

---

---

| | |
|:---|:---|
| **c/o Synchrony Bank**<br>**777 Long Ridge Rd**<br>**Stamford, CT** | **06902** |
| *(Address of Principal Executive Office of the issuing entity)* | *(Zip Code)* |

---

---

| |
|:---|
| **(877) 441-5094** |
| *(Telephone Number, Including Area Code)* |

---

  <br> *(Former Name or Former Address, if Changed Since Last Report)*

*Registered reporting pursuant to (check one)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Section 12(b) | Section 12(g) | Section 15(d) | Name of Exchange<br> (If Section 12(b)) |
| Title of Class |  |  |  |  |
| SynchronySeries Class A Notes | ◻ | ◻ | ⌧ | ___________ |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such requirements for the past 90 days. Yes: ⌧ No: ◻

**PART I - Distribution Information.**

**Item 1 – Distribution and Pool Performance Information.**

The response to Item 1 is set forth herein and in Exhibit 99.1.

**Trust Performance**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **June 2025** | **May 2025** | **April 2025** | **3-Month Avg** |
| **Gross Trust Yield** | 28.45% | 27.38% | 27.91% | 27.92% |
| **Gross Charge-Off Rate** | 6.03% | 5.87% | 6.37% | 6.09% |
| **Net Charge Off Rate** | 4.97% | 4.85% | 5.32% | 5.04% |
| **SynchronySeries Excess Spread Percentage** | 15.13% | 15.34% | 15.00% | 15.16% |
| **Payment Rate** | 24.23% | 23.29% | 23.30% | 23.61% |
| **Delinquency Data** |  |  |  |  |
| **1-29 Days Delinquent** | 1.82% | 1.78% | 1.75% | 1.78% |
| **30-59 Days Delinquent** | 0.72% | 0.75% | 0.76% | 0.74% |
| **60-89 Days Delinquent** | 0.59% | 0.63% | 0.66% | 0.63% |
| **90-119 Days Delinquent** | 0.54% | 0.60% | 0.56% | 0.57% |
| **120-149 Days Delinquent** | 0.50% | 0.49% | 0.51% | 0.50% |
| **150-179 Days Delinquent** | 0.41% | 0.47% | 0.47% | 0.45% |
| **180 or Greater Days Delinquent** | 0.00% | 0.00% | 0.00% | 0.00% |
| **BOP Principal Receivables ($B)** | $9.3 | $9.3 | $9.3 | $9.3 |

---

Charge-offs are executed on charge-off cycle dates which occur on various days during each distribution period. The number of different charge-off cycle dates in each distribution period varies based on such factors as the calendar and the timing of billing cycles. As a result, the amount of charged-off receivables can vary between distribution periods with no corresponding change in the performance of the trust portfolio. The following table sets forth the number of different charge-off cycle dates for each distribution period ending in the months indicated. Each distribution period begins on the first calendar day and ends on the last calendar day of the calendar month indicated below.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2025** | **2025** |
| **January** |  | 29 |  | 28 |
| **February** |  | 27 |  | 28 |
| **March** |  | 28 |  | 28 |
| **April** |  | 28 |  | 29 |
| **May** |  | 28 |  | 25 |
| **June** |  | 28 |  | 30 |
| **July** |  | 29 |  | 28 |
| **August** |  | 25 |  | 28 |
| **September** |  | 30 |  | 28 |
| **October** |  | 28 |  | 28 |
| **November** |  | 26 |  | 28 |
| **December** |  | 30 |  | 29 |

---

No assets securitized by Synchrony Card Funding, LLC (the "Securitizer") and held by Synchrony Card Issuance Trust were the subject of a demand to repurchase or replace for breach of the representations and warranties during the distribution period June 1, 2025 through June 30, 2025. The most recent Form ABS-15G filed by the Securitizer was filed on January 29, 2025. The CIK number of the Securitizer is 0001724786.

**ITEM 1A – Asset-Level Information.**

Inapplicable.

**ITEM 1B – Asset Representations Reviewer and Investor Communication.**

Nothing to report.

**PART II - Other Information** 

**ITEM 2 – Legal Proceedings.**

Nothing to report.

**ITEM 3 – Sales of Securities and Use of Proceeds.**

Information regarding the sale of the SynchronySeries Class A(2025-2) Notes has been previously included in a Current Report on [Form 8-K](https://www.sec.gov/Archives/edgar/data/1724786/000110465925059392/tm2517817d1_8k.htm), filed by the Securitizer and Synchrony Card Issuance Trust on June 13, 2025, and is incorporated herein by reference.

**ITEM 4 – Defaults Upon Senior Securities.**

Nothing to report.

**ITEM 5 – Submission of Matters to a Vote of Security Holders.**

Nothing to report.

**ITEM 6 – Significant Obligors of Pool Assets.**

Nothing to report.

**ITEM 7 – Change in Sponsor Interest in the Securities.**

Nothing to report.

**ITEM 8 – Significant Enhancement Provider Information.**

Inapplicable.

**ITEM 9 – Other Information.**

Nothing to report.

**ITEM 10 – Exhibits**

**(a)** **The exhibits listed below are filed as a part of this report**.

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Document Description</u>** |
| [99.1](tm2520020d1_ex99-1.htm) | [SynchronySeries Monthly Statement](tm2520020d1_ex99-1.htm) |

---

**(b)** **See (a) above for the exhibits filed in response to Item 601 of Regulations S-K.** 

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | Synchrony Card Funding, LLC, as depositor | Synchrony Card Funding, LLC, as depositor |
| Dated: July 15, 2025 | By: | /s/ Chris Coffey |
|  | Name: | Chris Coffey |
|  | Title: | Vice President |

---

## Exhibit 99.1

**Exhibit 99.1**

**Monthly Noteholder's Statement**

**Synchrony Card Issuance Trust**

**SynchronySeries**

Pursuant to the Amended and Restated Master Indenture, dated as of May 1, 2018 (as amended and supplemented, the "Indenture") between Synchrony Card Issuance Trust (the "Issuer") and The Bank of New York Mellon, as indenture trustee (the "Indenture Trustee"), as supplemented by the SynchronySeries Indenture Supplement (as amended and supplemented, the "Indenture Supplement"), dated as of September 26, 2018, between the Issuer and the Indenture Trustee, the Issuer is required to prepare, or cause Synchrony Bank (the "Servicer"), to prepare certain information each month regarding current distributions to the SynchronySeries Noteholders and the performance of the Issuer during the previous month. The information is required to be prepared with respect to the Payment Date as set forth below, and with respect to the performance of the Issuer during the Monthly Period ended as set forth below. Capitalized terms used herein are defined in the Indenture and the Indenture Supplement. The Discount Percentage (as defined in the Transfer Agreement) remains at 0% for all the Receivables purchased by the Issuer until otherwise indicated. The undersigned, an Authorized Officer of the Servicer, does hereby certify as follows:

---

| | |
|:---|:---|
| Monthly Period Beginning: | 06/01/2025 |
| Monthly Period Ending: | 06/30/2025 |
| Payment Date: | 07/15/2025 |
| Loss Cycles in Period: | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reset Date #1: | 06/23/2025 |

---

**I. Trust Receivables Information (Monthly Period)**

a. BOP Number of Accounts 8,245,230

b. EOP Number of Accounts 8,736,645

c. BOP Aggregate Principal Receivables 9,254,046,069.14

d. BOP Finance Charge Receivables (Excludes Discount Option Receivables) 368,796,182.77

e. BOP Discount Option Receivables 0.00

f. BOP Total Receivables 9,622,842,251.91

g. Increase in Principal Receivables from Additional Accounts 505,086,786.23

h. Increase in Finance Charge Receivables from Additional Accounts (Excludes Discount Option Receivables) 14,221,732.64

i. Increase in Discount Option Receivables 0.00

j. Decrease in Principal Receivables due to Account Removal 0.00

k. Decrease in Finance Charge Receivables due to Account Removal (Excludes Discount Option Receivables) 0.00

l. Decrease in Discount Option Receivables 0.00

m. EOP Aggregate Principal Receivables 9,712,625,543.99

n. EOP Finance Charge Receivables (Excludes Discount Option Receivables) 389,395,494.66

o. EOP Discount Option Receivables 0.00

p. EOP Total Receivables 10,102,021,038.65

q. BOP Excess Funding Account Balance 0.00

r. EOP Excess Funding Account Balance 0.00

s. EOP Minimum Pool Balance 7,172,972,973.00

t. EOP Minimum Free Equity Amount 485,631,277.20

u. EOP Free Equity Amount 3,214,652,570.99

**II. Investor Information (Sum of all Series)\***

a. Note Principal Balance

i. Beginning of Interest Period 5,425,000,000.00

ii. Increase in note principal Balance due to New Issuance / Additional Draws 0.00

iii. Decrease in Note Principal Balance due to Principal Paid and notes Retired 675,000,000.00

iv. As of Payment Date 4,750,000,000.00

b. Subordinated Transferor Amount

i. Beginning of Interest Period 1,747,972,973.00

ii. As of Payment Date 1,668,918,919.00

Page 1 of 11

c. Principal Funding Account Balance

i. Beginning of Interest Period 450,000,000.00

ii. As of Payment Date 0.00

d. Collateral Amount

i. Beginning of Interest Period 6,722,972,973.00

ii. As of Payment Date 6,418,918,919.00

\* Throughout this Section II, Beginning of Interest Period Amounts include any issuances that occurred during the Monthly Period related to this report. As of Payment Date amounts include payments to occur on the Payment Date but exclude any issuances occurring after the last day of the Monthly Period related to the report.

**III. Trust Performance Data (Monthly Period)**

a. Gross Trust Yield (Finance Charge Collections + Recoveries / BOP Principal Receivables)

i. Current 28.4517%

ii. Three-Month Average 27.9164%

b. Payment Rate (Principal Collections / BOP Principal Receivables)

i. Current 24.2348%

ii. Three-Month Average 23.6055%

c. Gross Charge-Off Rate (Default Amount for Defaulted Accounts / BOP Principal Receivables)

i. Current 6.0279%

ii. Prior Monthly Period 5.8746%

iii. Two Months Prior Monthly Period 6.3670%

iv. Three Months Prior Monthly Period 6.4758%

v. Three-Month Average 6.0898%

d. Net Charge-Off Rate (Default Amount for Defaulted Accounts - Recoveries/ BOP Principal Receivables)

i. Current 4.9660%

ii. Prior Monthly Period 4.8455%

iii. Two Months Prior Monthly Period 5.3214%

iv. Three Months Prior Monthly Period 5.4238%

v. Three-Month Average 5.0443%

e. Default Amount for Defaulted Accounts 46,485,594.41

f. Recovery Amount 8,189,581.34

g. Net Charge-Off (Default Amount for Defaulted Accounts - Recoveries) 38,296,013.07

h. Number of Accounts Charged Off 18,810

i. Average Account Charge-Off (Net Charge-Off / Number of Accounts Charged Off) 2,035.94

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| j. | Delinquency Data | Delinquency Data | Accounts | Pctg. of Tot. Accts. | Total Receivables | Pctg. of Tot. Recv. |
|  | i. | 1-29 Days Delinquent | 94051 | 1.0765% | 183703260.40 | 1.8185% |
|  | ii. | 30-59 Days Delinquent | 27885 | 0.3192% | 72832069.13 | 0.7210% |
|  | iii. | 60-89 Days Delinquent | 20582 | 0.2356% | 59399107.51 | 0.5880% |
|  | iv. | 90-119 Days Delinquent | 17069 | 0.1954% | 54835407.74 | 0.5428% |
|  | v. | 120-149 Days Delinquent | 15012 | 0.1718% | 50721279.40 | 0.5021% |
|  | vi. | 150-179 Days Delinquent | 11984 | 0.1372% | 41602504.38 | 0.4118% |
|  | vii. | 180 or Greater Days Delinquent | 1 | 0.0000% | 3834.37 | 0.0000% |
|  |  | Total | 186584 | 2.1356% | 463097462.93 | 4.5842% |

---

Page 2 of 11

**IV. Series Performance Data**

---

| | | | |
|:---|:---|:---|:---|
|  | **June**<br>**Monthly Period** | **May**<br>**Monthly Period** | **April**<br>**Monthly Period** |
| (a) Portfolio Yield | 20.87% | 20.91% | 20.33% |
| (b) Base Rate | 5.74% | 5.57% | 5.33% |
| (a)- (b) = Excess Spread Percentage | 15.13% | 15.34% | 15.00% |
| Three Month Average Excess Spread Percentage | 15.16% | 15.05% | 14.97% |

---

---

| | | | |
|:---|:---|:---|:---|
| **V. Collections and Allocations** | **V. Collections and Allocations** | **Trust** | **Series** |
| a. | Finance Charge Collections (excluding f.) | 219411011.07 | 155555110.81 |
| b. | Servicing Fee Retained | 15602256.82 | 11133896.42 |
| c. | Principal Collections | 2242704137.31 | 1645700596.34 |
| d. | Default Amount | 46485594.41 | 33183818.95 |
| e. | Net Swap Receipts |  | 0.00 |
| f. | Investment Earnings Treated as Finance Charge Collections |  | 1522172.92 |

---

**VI. Allocation Percentages** 

---

| | | | |
|:---|:---|:---|:---|
| a. | Allocation Percentage Denominators | Allocation Percentage Denominators |  |
|  | i. | Aggregate Principal Receivables Balance as of EOP Prior Monthly Period | 9254046069.14 |
|  | ii. | Number of Days at Balance | 22 |
|  | iii. | Aggregate Principal Receivables Balance as of EOP Reset Date | 9656451208.93 |
|  | iv. | Number of Days at Balance | 8 |
| b. | SynchronySeries Allocation Percentages | SynchronySeries Allocation Percentages |  |
|  | i. | SynchronySeries Floating Allocation Percentage (daily average) | 71.3540% |
|  | ii. | SynchronySeries Principal Allocation Percentage (daily average) | 73.7583% |

---

**VII. Shared Excess Available Finance Charge Collections** 

a. Finance Charge Shortfall for SynchronySeries 0.00

b. Finance Charge Shortfall for all Series 0.00

c. Shared Excess Available Finance Charges Collections Allocated to SynchronySeries 0.00

Page 3 of 11

**VIII. Information Regarding the Current Distribution to Noteholders**

The amount of distribution to Noteholders on the related Payment Date per $1,000 Initial Dollar Principal Amount

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Benchmark<br> Determination Date | Benchmark<br> Rate | Interest<br> Rate | Interest<br> Distribution | Principal<br> Distribution | Total<br> Distribution |
| Class A (2022-2) |  |  | 3.8600% | 3.22 | 1000.00 | 1003.22 |
| Class A (2023-1) |  |  | 5.5400% | 4.62 | 0.00 | 4.62 |
| Class A (2023-2) |  |  | 5.7400% | 4.78 | 0.00 | 4.78 |
| Class A (2024-1) |  |  | 5.0400% | 4.20 | 0.00 | 4.20 |
| Class A (2024-2) |  |  | 4.9300% | 4.11 | 0.00 | 4.11 |
| Class A (2025-1) |  |  | 4.7800% | 3.98 | 0.00 | 3.98 |
| Class A (2025 - 2) |  |  | 4.4900% | 4.49 | 0.00 | 4.49 |

---

Page 4 of 11

**IX. Outstanding Dollar Principal Amount of SynchronySeries Notes as of the Payment Date**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Tranche | Initial Dollar Principal<br> Amount | Outstanding Dollar<br> Principal Amount | Adjusted<br> Outstanding Dollar<br> Principal Amount | Principal distribution<br> on the<br> Payment Date |
| Class A (2022-2) | 675000000.00 | 0.00 | 0.00 | 675000000.00 |
| Class A (2023-1) | 1000000000.00 | 1000000000.00 | 1000000000.00 | 0.00 |
| Class A (2023-2) | 750000000.00 | 750000000.00 | 750000000.00 | 0.00 |
| Class A (2024-1) | 750000000.00 | 750000000.00 | 750000000.00 | 0.00 |
| Class A (2024-2) | 750000000.00 | 750000000.00 | 750000000.00 | 0.00 |
| Class A (2025-1) | 750000000.00 | 750000000.00 | 750000000.00 | 0.00 |
| Class A (2025-2) | 750000000.00 | 750000000.00 | 750000000.00 | 0.00 |
| Total Class A | 5425000000.00 | 4750000000.00 | 4750000000.00 | 675000000.00 |
| Total Class B | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class C | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class D | 0.00 | 0.00 | 0.00 | 0.00 |
| **Total** | **5425000000.00** | **4750000000.00** | **4750000000.00** | **675000000.00** |

---

Page 5 of 11

**X. Nominal Liquidation Amount of SynchronySeries Notes** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Nominal<br> Liquidation Amount<br> as of Beginning of<br> Interest Period\* | Increases from<br> amounts<br> withdrawn from the<br> Note Retirement<br> Subaccounts<br> in respect of<br> Prefunding Excess<br> Amounts | Reimbursements<br> of prior Nominal<br> Liquidation<br> Amount Deficits<br> from Available<br> Finance Charge<br> Collections | Increase<br> due to additional<br> notes issued<br> during Monthly<br> Period | Reductions due<br> to reallocations<br> of Available<br> Principal<br> Collections and<br> Investor<br> Charge-Offs | Reductions due<br> to amounts<br> deposited to the<br> Principal Funding<br> Subaccounts | Reductions due<br> to amounts<br> deposited in<br> applicable Note<br> Retirement<br> Subaccount | Nominal<br> Liquidation Amount<br> as of end of<br> Interest Period\* |
| Class A (2022-2) | 225000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | (225000000.00) | 0.00 | 0.00 |
| Class A (2023-1) | 1000000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1000000000.00 |
| Class A (2023-2) | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| Class A (2024-1) | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| Class A (2024-2) | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| Class A (2025-1) | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| Class A (2025-2) | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| Total Class A | 4975000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | (225000000.00) | 0.00 | 4750000000.00 |
| Total Class B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class C | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class D | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **Total** | **4975000000.00** | **0.00** | **0.00** | **0.00** | **0.00** | **(225000000.00)** | **0.00** | 4750000000.00 |

---

\* Beginning of Interest Period amounts include any issuances that occurred during the Monthly Period related to this report. As of end of Interest Period amounts include payments to occur on the Payment Date but exclude any issuances occurring after the last day of the Monthly Period related to this report.

Page 6 of 11

**XI. SynchronySeries Required and Subordinated Amounts\***

**Beginning of Interest Period**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Required<br> Subordinated Amount | Total Subordinated<br> Amount | Nominal Liquidation<br> Amount of Class B<br> Notes | Nominal Liquidation<br> Amount of Class C<br> Notes | Nominal Liquidation<br> Amount of Class D<br> Notes | Subordinated<br> Transferor Amount |
| Class A (2022-2) | 79054054.06 |  |  |  |  |  |
| Class A (2023-1) | 351351351.36 |  |  |  |  |  |
| Class A (2023-2) | 263513513.52 |  |  |  |  |  |
| Class A (2024-1) | 263513513.52 |  |  |  |  |  |
| Class A (2024-2) | 263513513.52 |  |  |  |  |  |
| Class A (2025-1) | 263513513.52 |  |  |  |  |  |
| Class A (2025-2) | 263513513.52 |  |  |  |  |  |
| **Total Class A** | **1747972973.00** | **1747972973.00** | 0.00 | 0.00 | 0.00 | 1747972973.00 |
| **Total Class B** | **1243750000.00** | **1747972973.00** |  | 0.00 | 0.00 | 1747972973.00 |
| **Total Class C** | **809883721.00** | **1747972973.00** |  |  | 0.00 | 1747972973.00 |
| **Total Class D** | **261842106.00** | **1747972973.00** |  |  |  | 1747972973.00 |

---

**As of Payment Date**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Required <br> Subordinated Amount | Total Subordinated<br> Amount | Nominal Liquidation<br> Amount of Class B<br> Notes | Nominal Liquidation<br> Amount of Class C<br> Notes | Nominal Liquidation<br> Amount of Class D<br> Notes | Subordinated<br> Transferor Amount |
| Class A (2022-2) | 0.00 |  |  |  |  |  |
| Class A (2023-1) | 351351351.37 |  |  |  |  |  |
| Class A (2023-2) | 263513513.53 |  |  |  |  |  |
| Class A (2024-1) | 263513513.53 |  |  |  |  |  |
| Class A (2024-2) | 263513513.53 |  |  |  |  |  |
| Class A (2025-1) | 263513513.53 |  |  |  |  |  |
| Class A (2025-2) | 263513513.53 |  |  |  |  |  |
| **Total Class A** | **1668918919.00** | **1668918919.00** | 0.00 | 0.00 | 0.00 | 1668918919.00 |
| **Total Class B** | **1187500000.00** | **1668918919.00** |  | 0.00 | 0.00 | 1668918919.00 |
| **Total Class C** | **773255814.00** | **1668918919.00** |  |  | 0.00 | 1668918919.00 |
| **Total Class D** | **250000000.00** | **1668918919.00** |  |  |  | 1668918919.00 |

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\* Throughout this Section XI, Beginning of Interest Period Amounts include any issuances that occured during the Monthly Period related to this report. As of Payment Date amounts include payments to occur on the Payment Date but exclude any issuances occurring after the last day of the Monthly Period related to this report.

Page 7 of 11

**XII. Interest Funding Account Sub-Accounts**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Beginning<br> Interest<br> Funding<br> Subaccount<br> Balance | Targeted deposit<br> to the <br> Interest Funding<br> Subaccount <br> for the current <br> period | Previous <br> shortfalls of<br> targeted<br> deposits to the<br> Interest Funding<br> Subaccount | Actual <br> deposit to Interest<br> Funding<br> Subaccount | Amount <br> withdrawn from the <br> Interest Funding<br> Subaccount<br> for payment to<br> Noteholders | Other<br> Withdrawals | Ending <br> Interest <br> Funding<br> Subaccount<br> Balance |
| Class A (2022-2) | 0.00 | 2171250.00 | 0.00 | 2171250.00 | (2171250.00) | 0.00 | 0.00 |
| Class A (2023-1) | 0.00 | 4616666.67 | 0.00 | 4616666.67 | (4616666.67) | 0.00 | 0.00 |
| Class A (2023-2) | 0.00 | 3587500.00 | 0.00 | 3587500.00 | (3587500.00) | 0.00 | 0.00 |
| Class A (2024-1) | 0.00 | 3150000.00 | 0.00 | 3150000.00 | (3150000.00) | 0.00 | 0.00 |
| Class A (2024-2) | 0.00 | 3081250.00 | 0.00 | 3081250.00 | (3081250.00) | 0.00 | 0.00 |
| Class A (2025-1) | 0.00 | 2987500.00 | 0.00 | 2987500.00 | (2987500.00) | 0.00 | 0.00 |
| Class A (2025-2) | 0.00 | 3367500.00 | 0.00 | 3367500.00 | (3367500.00) | 0.00 | 0.00 |
| Total Class A | 0.00 | 22961666.67 | 0.00 | 22961666.67 | (22961666.67) | 0.00 | 0.00 |
| Total Class B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class C | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class D | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **Total** | **0.00** | **22961666.67** | **0.00** | **22961666.67** | **(22961666.67**) | **0.00** | **0.00** |

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Page 8 of 11

**XIII. Principal Funding Account Sub-Accounts**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Beginning<br> Principal Funding<br> Subaccount<br> Balance | Targeted deposit <br> to the <br> Principal Funding<br> Subaccount <br> for the current<br> period | Previous shortfall<br> of targeted<br> deposit to the<br> Principal Funding | Actual deposit <br> to Principal Funding<br> Subaccount | Amount <br> withdrawn from <br> Principal Funding<br> Subaccount<br> for payments to<br> Noteholders | Other<br> Withdrawals | Ending <br> Principal<br> Funding<br> Subaccount Balance |
| Class A (2022-2) | 450000000.00 | 225000000.00 | 0.00 | 225000000.00 | (675000000.00) | 0.00 | 0.00 |
| Class A (2023-1) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Class A (2023-2) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Class A (2024-1) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Class A (2024-2) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Class A (2025-1) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Class A (2025-2) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class A | 450000000.00 | 225000000.00 | 0.00 | 225000000.00 | (675000000.00) | 0.00 | 0.00 |
| Total Class B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class C | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class D | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **Total** | **450000000.00** | **225000000.00** | **0.00** | **225000000.00** | **(675000000.00)** | **0.00** | **0.00** |

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Page 9 of 11

**XIV. Class D Reserve Sub-Accounts**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Beginning <br> Class D Reserve<br> Subaccount Balance | Targeted <br> deposit to the <br> Class D<br> Reserve<br> Subaccount for the<br> current period | Actual <br> deposit to <br> Class D Reserve<br> Subaccount | Class D <br> Reserve<br> Subaccount <br> earnings<br> for the current<br> period | Amount <br> withdrawn with<br> respect of payment<br> of interest or<br> principal to<br> Noteholders | Withdrawal<br> of Excess <br> Amounts | Ending <br> Class D Reserve<br> Subaccount |
| **Total Class D** | **0.00** | **0.00** | **0.00** | **0.00** | **0.00** | **0.00** | 0.00 |

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**XV. Accumulation Reserve Sub-Accounts**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Beginning<br> Accumulation<br> Reserve<br> Subaccount<br> Balance | Targeted deposit to<br> the Accumulation<br> Reserve<br> Subaccount for the<br> current period | Actual <br> deposit to<br> Accumulation<br> Reserve<br> Subaccount | Accumulation<br> Reserve<br> Subaccount<br> earnings<br> for the current<br> period | Amount withdrawn<br> with respect of<br> payment of<br> principal to<br> Noteholders | Withdrawal <br> of Excess<br> Amounts | Ending<br> Accumulation<br> Reserve<br> Subaccount<br> Balance |
| Total Class A | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class C | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Class D | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **Total** | **0.00** | **0.00** | **0.00** | **0.00** | **0.00** | **0.00** | 0.00 |

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Page 10 of 11

**XVI. Series Early Amortization Events**

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| | | |
|:---|:---|:---|
| a. | Average Excess Spread Percentage for three consecutive Monthly Periods is less than required Excess Spread Percentage | No |
| b. | The Outstanding Dollar Principal Amount is outstanding beyond the Scheduled Principal Payment Date | No |
| c. | Has an early amortization event occurred? | No |

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**XVII. Risk Retention**

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| | | | |
|:---|:---|:---|:---|
| a. | U.S. Risk Retention | U.S. Risk Retention |  |
|  |  | i. Required Risk Retention Transferor Amount (as of EOP) | 271250000.0 |
|  |  | ii. Risk Retention Transferor Amount (as of EOP) | 4287625543.99 |

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b. E.U.
Risk Retention

At the date of this statement, Synchrony Bank, as "originator" (as such term is defined for the purposes of each of the EU Securitization Regulation and the UK Securitization Framework), retains and will retain, continually and on an ongoing basis for as long as any notes remain outstanding, a material net economic interest of not less than five percent of the nominal value of the securitized exposures, in a form that is intended to qualify as an originator's interest as provided in (i) option (b) of Article 6(3) of the EU Securitization Regulation, (ii) paragraph (1)(b) of SECN 5.2.8R and (iii) paragraph (b) of Article 6(3) of Chapter 2 of the PRASR, by holding all the membership interests in the depositor which in turn holds all or part of the transferor interest.

IN WITNESS WHEREOF, the undersigned has duly executed this Monthly Noteholder's Statement as of the 11th day of July 2025.

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| | |
|:---|:---|
| **Synchrony Bank,** as Servicer | **Synchrony Bank,** as Servicer |
| By: | /s/ Chris Coffey |
| Name: Chris Coffey | Name: Chris Coffey |
| Its: Authorized Signatory | Its: Authorized Signatory |

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Page 11 of 11