# EDGAR Filing Document

**Accession Number:** 0001661995
**File Stem:** 0001104659-26-018086
**Filing Date:** 2026-2
**Character Count:** 25081
**Document Hash:** cfb9ecf06a9d847e9ea5f3b82a23e45c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-018086.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001104659-26-018086

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260220

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260220

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Equipment loans

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Volvo Financial Equipment Holding, LLC
- **CENTRAL INDEX KEY:** 0001661995
- **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:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02498
- **FILM NUMBER:** 26658792

**BUSINESS ADDRESS:**
- **STREET 1:** 8003 PIEDMONT TRIAD PKWY
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27409
- **BUSINESS PHONE:** 336-931-4620

**MAIL ADDRESS:**
- **STREET 1:** 8003 PIEDMONT TRIAD PKWY
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27409
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Volvo Financial Equipment Holding, LLC
- **CENTRAL INDEX KEY:** 0001661995
- **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:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 8003 PIEDMONT TRIAD PKWY
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27409
- **BUSINESS PHONE:** 336-931-4620

**MAIL ADDRESS:**
- **STREET 1:** 8003 PIEDMONT TRIAD PKWY
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27409
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Volvo Financial Equipment Holding, LLC
- **CENTRAL INDEX KEY:** 0001661995
- **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:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02498

**BUSINESS ADDRESS:**
- **STREET 1:** 8003 PIEDMONT TRIAD PKWY
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27409
- **BUSINESS PHONE:** 336-931-4620

**MAIL ADDRESS:**
- **STREET 1:** 8003 PIEDMONT TRIAD PKWY
- **CITY:** GREENSBORO
- **STATE:** NC
- **ZIP:** 27409

**UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER REPORT**

Pursuant to Section 15G of

the Securities Exchange Act of 1934

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

◻ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period _________ to _________

____________________________<br> (Exact name of securitizer as specified in its charter)

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| |
|:---|
| Date of Report (Date of earliest event reported) |
| Commission File Number of securitizer: |
| Central Index Key Number of securitizer: |

---

  <br> Name and telephone number, including area code, of the person to <br> contact in connection with this filing.

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ◻

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ◻

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ◻

⌧ Rule 15Ga-2
 under the Exchange Act (17 CFR 240.15Ga-2)

<u>Volvo Financial Equipment LLC, Series 2026-1</u><br> (Exact name of issuing entity as specified in its charter)

Central Index Key Number of depositor: <u>0001661995</u> <br> Central Index Key Number of issuing entity (if applicable): <u>Not applicable </u> <br> Central Index Key Number of underwriter (if applicable): <u>Not applicable</u>

<u>Richard Scott Adams, (336) 291-5560</u> <br> Name and telephone number, including area code, of the person to <br> contact in connection with this filing.

**PART II -** **FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS**

**Item 2.01 Findings and Conclusions of a Third-Party Due Diligence Report Obtained by the Issuer**

See Report of Independent Accountants on Applying Agreed-Upon Procedures, dated February 19, 2026, attached as Exhibit 99.1 to this report.

**SIGNATURES**

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

---

| | |
|:---|:---|
| VOLVO FINANCIAL EQUIPMENT HOLDING, LLC | VOLVO FINANCIAL EQUIPMENT HOLDING, LLC |
| (Depositor) | (Depositor) |
| By: | /s/ Eamon O'Shaughnessy |
| Name: | Eamon O'Shaughnessy |
| Title: | Vice President |

---

Dated: February 20, 2026

**EXHIBIT INDEX**

<u>Exhibit No.</u> <u>Description</u> <br>[99.1](tm264825d28_ex99-1.htm) [Report of Independent Accountants, dated February 19, 2026.](tm264825d28_ex99-1.htm)

## Exhibit 99.1

**Exhibit 99.1**

![](tm264825d28_ex99-1img01.jpg)

**<u>Report of Independent Accountants on Applying</u>**

**<u>Agreed-Upon Procedures</u>**

VFS US LLC

8003 Piedmont Triad Pkwy

Greensboro, North Carolina 27409

We ("us" or "PwC") have performed the procedures enumerated below, which were agreed to by Volvo Financial Services, a division of VFS US LLC (the "Company," as the engaging party), as managing member of Volvo Financial Equipment Holding LLC, BofA Securities, Inc., Mizuho Securities USA LLC, and SMBC Nikko Securities America, Inc. who are collectively referred to herein as the "Specified Parties", solely to assist you in performing certain procedures regarding the accuracy of certain attributes of a sample of the collateral assets to be included in the Transaction with respect to Volvo Financial Equipment LLC, Series 2026-1. (the "Transaction"). The Company (the "Responsible Party") is responsible for the accuracy of certain attributes of the collateral assets to be included in the Transaction.

In an agreed-upon procedures engagement, we perform specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the intended purpose of the engagement and we report on findings based on the procedures performed. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose.

***Procedures and Findings***

In connection with the Transaction, the Specified Parties requested that PwC randomly select a sample of 100 equipment receivable assets (the "Sample Assets", as defined below) from the Preliminary Loan Data Tape (as defined below) and perform the agreed upon procedures on the Sample Assets, which the Company represented will be included in the final pool of assets to be sold as part of the Transaction. The sufficiency of the sample size and the method for selecting the sample is solely the responsibility of the Specified Parties.

This agreed-upon procedures engagement was not conducted for the purpose of satisfying any criteria for due diligence published by a nationally recognized statistical rating organization.

In addition, PwC should not be regarded as having in any way warranted or given any assurance as to the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The completeness, accuracy, appropriateness, quality
or integrity of any of the information provided by the Responsible Party, or any other party for purposes of PwC performing the procedures
agreed to by the Specified Parties. The procedures performed would not necessarily reveal any material misstatement of the amounts, balances,
ratios, percentages or other relationships of the information included in the data provided to us;

www.pwc.com *PricewaterhouseCoopers LLP <br> 601 South Figueroa Street, Los Angeles, CA 90017<br> T: (213) 356-6000*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The conformity of the origination of the assets
to stated underwriting or credit extension guidelines, standards, criteria or other requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The value of collateral securing such assets;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The compliance of the originator of the assets
with federal, state, and local laws and regulations.

We have not performed any procedures with respect to the fair value of the securities being offered in the Transaction and PwC expresses no opinion on the current fair value of these securities. PwC should not be regarded as having performed any procedures other than those detailed in this report.

With respect to any terms or requirements of the Transaction documents that do not appear in the exhibits, we performed no procedures and, accordingly, the procedures we performed would not ensure that any requirements are satisfied. Further, we have performed only the following agreed-upon procedures and therefore make no representations regarding the adequacy of disclosures or whether any material facts have been omitted from the Transaction documents.

It should be understood that we make no representations as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The interpretation of Transaction documents (including, but not limited to,
indenture agreements or offering documents) included in connection with our procedures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Your compliance with Rule 15Ga-2 of the Securities Exchange Act of 1934;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The reasonableness of any of the assumptions provided by the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The adequacy of the sample size, as provided by the Specified Parties, nor
do we draw any conclusions about the entire collateral pool based on the sample size and results of the procedures performed.

These procedures should not be taken to supplant any additional inquiries or procedures that the Specified Parties would undertake in consideration of the transaction. The procedures performed and results thereof are described below.

The following definitions, unless otherwise indicated, have been adopted in presenting our procedures and findings:

· The phrase "compared" refers to the
comparison of one or more data elements to underlying documentation.

· The phrase "Cut-off Date" refers to
December 31, 2025.

· The phrase "Preliminary Loan Data Tape" refers to a detailed
listing of 6,038 assets provided to us by the Company on January 9, 2026 in an Excel document titled "VFET 2026-1 Preliminary Data
Tape (sent 01.09.2025).xlsx", which the Company represents includes certain attributes related to the assets as of December 31,
2025. · The phrase "Loan Data Tape" refers to a detailed listing of 6,038
assets provided to us by the Company on January 21, 2026 in an Excel document titled " VFET 2026-1 Preliminary Data Tape (sent 01.15.2025).xlsx", which the Company represents includes certain attributes
related to the assets as of December 31, 2025.

· The phrase "Sample Assets" refers
to a sample of 100 assets randomly selected by PwC from the Preliminary Loan Data Tape. We make no representations as to the adequacy
of the sample size, nor do we draw any conclusions about the Loan Data Tape based on the sample size and results of the procedures performed.

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| ![](tm264825d28_ex99-1img01.jpg) | Report of Independent Accountants on Applying Agreed-Upon Procedures<br> Volvo Financial Equipment LLC, Series 2026-1<br> February 19, 2026<br> Page 3 of 7 |

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**I.** **Data, Information, and Documents Provided** 

The Company provided the following data, information, and/or documents related to the Sample Assets:

Electronic versions of, or access to, various files or collections of documentation including the following, as applicable (the "Loan File"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Credit and Pricing Summary Files

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Insurance Documents (Certificate of Liability Insurance, Insurance Authorization Form or Evidence, Property
Insurance Form, or Self Insurance Form)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Borrower contract, including any modification agreements (as applicable), represented by one of the following
documents, as applicable (the "Equipment Receivables Note"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Secured Promissory Note,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Credit and Sales Contract,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Direct Loan Contract,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Master Loan and Security Agreement, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· End of Term Promissory Note

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Security of Perfection Document, represented by one of the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· UCC Financing Statement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Application for Title,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· or the Certification of Titling

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Contract management system screens ("Infolease")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Infolease screenshot containing equipment type codes (the "Asset Code Mapping File")

Our comparisons with respect to the Sample Assets were made using electronic versions of the original Equipment Receivables Note and other related documents and/or copies of such note and other related documents obtained from the respective Loan File.

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| ![](tm264825d28_ex99-1img01.jpg) | Report of Independent Accountants on Applying Agreed-Upon Procedures<br> Volvo Financial Equipment LLC, Series 2026-1<br> February 19, 2026<br> Page 4 of 7 |

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**II.** **Procedures Performed** 

1) For each Sample Asset, we compared the attributes specified in the table below ("Specified Attributes"), as set forth in the Loan Data Tape, to the corresponding information contained in the Loan File:

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| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Loan Data Tape Field** | &nbsp;&nbsp;**Primary Source File** |
| &nbsp;&nbsp;a. | &nbsp;&nbsp;Loan Identification Number | &nbsp;&nbsp;Asset ID | &nbsp;&nbsp;"Asset ID" field on the Company contract management system screens (Infolease) |
| &nbsp;&nbsp;b. | &nbsp;&nbsp;Borrower Mailing State | &nbsp;&nbsp;crARState | &nbsp;&nbsp; Equipment Receivables Note<br>As instructed by the Company, if the Borrower Mailing State is not listed on the Equipment Receivables Note or the state listed on the Equipment Receivables Note does not agree to the Loan Data Tape, then we used the state noted in the "Address(es) of Location(s) of Primary Domicile or Garage of Equipment on the Equipment" or "Address where Equipment will be located" fields of the Equipment Receivables Note, or one of the following documents was provided:<br>· Customer Invoice,<br> · Credit Application, or<br> · Affidavit of Out-of-State Execution. |
| &nbsp;&nbsp;c. | &nbsp;&nbsp;Contract Date | &nbsp;&nbsp;crBookingDate | &nbsp;&nbsp;"Booking Date" field on the VFS US LLC contract management system screens (Infolease) |
| &nbsp;&nbsp;d. | &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;crOriginalCost | &nbsp;&nbsp; "Gross Equipment Cost" or "Amount to Finance" field on the Credit and Pricing Summary – Booking Summary Report<br>As instructed by the Company, the Original Principal Balance was considered to be in agreement if the difference was within $1.<br>As Instructed by the Company, if the Original Principal Balance listed on the Credit and Pricing Summary – Booking Summary Report does not agree to the Loan Data Tape, then we used the Original Principal Balance noted in the Equipment Receivables Note, as applicable.<br>|

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Loan Data Tape Field** | &nbsp;&nbsp;**Primary Source File** |

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e. Original Loan Term crOriginalTerm "Contract Term" field on the VFS US LLC contract management
 system screens (Infolease)As instructed by the Company, for any fields that did not agree, we used the Booking Summary Report to determine
 the original loan term with the following methodology: · "Stub" payments counted as a month if the stub payment crossed
a calendar month end and the timing of the payment was "arr" (noting that when the Income Method field within Infolease was
 "U US Rule,"stub payments only counted if the stub payment period exceeded 45 days), and · all other payments that were not "Stub" payments were counted
as the corresponding number of monthly payments due per the payment schedule.

f. Equipment Type mtEquipmentDesc "Asset Code" field on the VFS US LLC contract management
 system screens (Infolease) As instructed by the Company,
 the Asset Code Mapping File was used to map the Asset Code field from the Infolease screens to the mtEquipmentDesc field listed
 in the Loan Data Tape.

g. New or Used mtNewUsed "New/Used Code" field on the VFS US LLC contract management system screens (Infolease)

h. Balloon Amount crResidualAmount Credit and Pricing Summary – Booking Summary Report As instructed by the Company, the Balloon Amount was considered to
 be a rent payment due at the end of the lease term that is greater than or equal to double the monthly periodic payments due prior to
 the final payment date, plus any other scheduled monthly payments that are due on the final payment date. In the event of a disposal of an asset associated with the lease contract
 prior to the Cut-off Date, the Company instructed us to recalculate the Balloon Payment for the contract based on the balloon payment
 (obtained from the Credit and Pricing Summary – Booking Summary Report) multiplied by a ratio which is equal to: a) the Original Principal Balance for all assets associated with the lease contract less the original principal balance of the disposed
asset, divided by b) the Original Principal Balance for all assets associated with the lease contract. As instructed by the Company, for Sample Asset #69, we used the Infolease
 source reflecting an updated Balloon Amount of $161,201.93. The original Credit and Pricing Summary – Booking Summary Report provided
 by the Company had a Balloon Amount of $322,403.85. The Company noted that there was a disposal of equipment collateral related to this
 Sample Asset.

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Loan Data Tape Field** | &nbsp;&nbsp;**Primary Source File** |

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i. Payment Frequency crPaymentFrequency Credit and Pricing Summary – Booking Summary Report As instructed by the Company, the payment frequency was compared to
 "Monthly" when specified payments are due during each consecutive month of the Loan Term, without intermittent zero-dollar
 payments or "skip months" (unless the zero-dollar payment was a result of re-amortizing a Balloon Amount). Otherwise, the payment frequency was compared to "Other".

j. Model Year mtModelYear Credit and Pricing Summary – Booking Summary Report As instructed by the Company, if the Model Year from the Credit and
 Pricing Summary – Booking Summary Report does not match the Loan Data Tape, the Company provided the Security of Perfection Document.
 If the Model Year is in agreement with the Security of Perfection Document, no exceptions were noted.

k. Credit Grade crCreditGrade "Credit Score" field on the VFS US LLC contract management system screens (Infolease).

We noted no exceptions with respect to procedure 1.

2) For each Sample Asset, we observed whether each Loan File contained the following documents, noting no exceptions.

&nbsp;&nbsp;&nbsp;&nbsp;· We observed the Company's first lien on
the equipment collateral on the Security of Perfection Document;

&nbsp;&nbsp;&nbsp;&nbsp;· We observed insurance coverage or insurance fee
on the Certificate of Liability Insurance, Insurance Authorization Form or Evidence, Property Insurance Form, or Self Insurance Form;
and

&nbsp;&nbsp;&nbsp;&nbsp;· We observed a signature on the Equipment Receivables
Note. We did not verify the authenticity of the signature on the Equipment Receivables Note.

We noted no exceptions with respect to procedure 2.

The procedures above did not include the reading of the Loan Files in their entirety. Such procedures were limited to a comparison of the attributes enumerated above.

\*\*\*\*

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| ![](tm264825d28_ex99-1img01.jpg) | Report of Independent Accountants on Applying Agreed-Upon Procedures<br> Volvo Financial Equipment LLC, Series 2026-1<br> February 19, 2026<br> Page 7 of 7 |

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This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to, and did not conduct an audit or an examination engagement, the objective of which would be the expression of an opinion, or a review engagement, the objective of which would be the expression of a conclusion, on the accuracy of certain attributes of the collateral assets to be included in the Transaction. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

In performing this engagement, we are required to be independent of the Responsible Party and to meet our ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information and use of the Specified Parties (including for purposes of substantiating the Specified Parties' "due diligence defense" under the Securities Act of 1933), and is not intended to be and should not be used by anyone other than the Specified Parties.

If a party has obtained, or has access to, this report without having executed an agreement with PwC wherein such party accepts responsibility for the appropriateness of the procedures performed (such party is herein referred to as a "Non-Specified Party"), that Non-Specified Party cannot:

&nbsp;&nbsp;&nbsp;&nbsp;i) Rely upon this report, and any use of this report by that Non-Specified Party is its sole responsibility and at its sole and exclusive
risk;

ii) Acquire any rights or claims against PwC, and PwC assumes no duties or obligations to such Non-Specified Party.

A Non-Specified Party may not disclose or distribute this report or any of the report's contents to any other party (including but not limited to electronic distribution and/or posting to a website pursuant to Rule 17G-5 of the Securities Exchange Act of 1934).

The procedures enumerated above were performed as of the date of this report, and we disclaim any consideration of any events and circumstances occurring after the date of this report. Further, we have no obligation to update this report because of events occurring, or data or information coming to our attention, subsequent to the date of this report.

/s/ PricewaterhouseCoopers LLP

Los Angeles, CA

February 19, 2026