Consumer Portfolio Services Announces Record \$514 Million Auto Loan Securitization

LAS VEGAS, Nevada, April 22, 2026 – Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or “the Company”) has announced the successful closing of its second term securitization of 2026, marking a significant milestone in its corporate history. This transaction, officially named CPS Auto Receivables Trust 2026-B, stands out as the largest securitization ever completed by the company, with \$514.07 million in asset-backed notes sold to qualified institutional buyers. These notes are secured by a pool of \$526.17 million in automobile receivables originated by CPS.

Key Highlights of the Transaction

• Record-Setting Transaction: This is the largest securitization in CPS’s history, and the first time the company has sold over \$500 million in a single transaction.
• Consistent Market Recognition: The deal represents CPS’s 59th senior subordinate securitization since 2011 and the 42nd consecutive securitization to receive triple “A” ratings from at least two rating agencies on the senior note class.
• Strong Credit Ratings: The notes were rated by Moody’s and DBRS Morningstar, benefiting from the robust transaction structure, the historical performance of similar receivables, and CPS’s servicing experience.
• Five-Class Note Structure: The sold notes were split into five classes, with the following details:

  Class	Amount (millions)	Interest Rate	Average Life (years)	Moody’s Rating	DBRS Rating	Price
  A	\$237.62	4.35%	0.68	Aaa	AAA	99.99986%
  B	\$76.40	4.59%	1.81	Aaa	AA	99.98841%
  C	\$78.66	4.93%	2.52	Aa3	A	99.98836%
  D	\$48.67	5.20%	3.30	Baa2	BBB	99.98141%
  E	\$72.72	7.14%	4.04	NR	BB	99.96652%

• Weighted Average Coupon: Approximately 5.51% across all note classes.
• Credit Enhancement: The deal is structured with a cash deposit equal to 1.00% of the original receivable pool balance and 2.30% initial overcollateralization. The agreements mandate accelerated principal payments until overcollateralization reaches the lesser of 7.70% of the original pool balance or 19.20% of the then outstanding pool balance.
• Private Offering: This transaction was a private offering and not registered under the Securities Act of 1933 or any state law. All notes have been sold.

Implications for Shareholders and Investors

• Largest Securitization Ever: The size of this transaction is a clear signal of CPS’s growing market presence and operational scale, potentially positive for share value as it demonstrates the company’s ability to access large pools of capital.
• Consistent High Ratings: The triple-A ratings on the senior notes from top agencies may enhance investor confidence in CPS’s asset quality and risk management.
• Favorable Terms: The relatively low interest rates on senior tranches and robust credit enhancement may translate into lower funding costs and improved margins for CPS.
• Demonstrated Funding Capacity: The ability to complete a half-billion-dollar+ transaction signals strong demand for CPS’s securitized products and could pave the way for further growth or improved financial flexibility.
• Potential Share Price Impact: Given this is the largest transaction in company history, with substantial institutional investor participation, shareholders should take note—this event could be price sensitive and influence the company’s market valuation.

About Consumer Portfolio Services, Inc.

CPS is an independent specialty finance company focused on providing indirect automobile financing to individuals with previous credit issues or limited credit history. The company primarily purchases retail installment sales contracts from franchised auto dealerships, secured by late-model used vehicles and, to a lesser degree, new vehicles. CPS funds these purchases mainly through the securitization markets and services the contracts over their lifespan.

Investor Relations Contact:
Danny Bharwani, Chief Financial Officer
949-753-6811

Disclaimer: This article is for informational purposes only and does not constitute investment advice or an invitation to buy or sell securities. Investors should conduct their own due diligence and consult professional advisors before making investment decisions. The information provided is based on the latest company disclosures as of April 22, 2026, and may be subject to change.