Source: Warhammer Fantasy: 7th Edition

Cavalry Casualties
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In the case of cavalry models, all shots are worked out against the rider. If the rider is slain, the mount is removed as well. This is a practical way of representing cavalry, as it dispenses with the need for dismounted riders and loose mounts. Some riders are dead, their horses bolting, and some mounts are killed, throwing their riders to the ground, but these things can be left to the imagination. Note that this only applies to ordinary
cavalry and not to monstrous mounts.

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