Slides
Page 1
2Q26 NYSE: OMF | July 29, 2026
Page 2
The following slides are part of a presentation by OneMain Holdings, Inc. (the "Company") in connection with reporting quarterly financial results and are intended to be viewed as part of that presentation. No representation is made that the information in these slides is complete. For additional financial, statistical, and business-related information, as well as information regarding business and segment trends, see the earnings release and financial supplement included as an exhibit to the Company’s Current Report on Form 8-K filed on July 29, 2026, and available in the Investor Relations section on the Company’s website (www.omf.com) and the SEC’s website (www.sec.gov). Cautionary Note Regarding Forward-Looking Statements This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words “anticipates,” “appears,” “assumes,” “believes,” “can,” “continues,” “could,” “estimates,” “expects,” “forecasts,” “foresees,” “goals,” “intends,” “likely,” “objective,” “plans,” “projects,” “target,” “trend,” “remains,” and similar expressions or future or conditional verbs such as “could,” “may,” “might,” “should,” “will” or “would” are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements are not statements of historical fact but instead represent only management’s current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the “Risk Factors” and “Management’s Discussion and Analysis” sections of the Company’s most recent Form 10-K filed with the SEC and in the Company’s other filings with the SEC from time to time. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us. Forward looking statements included in this presentation speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law. Use of Non-GAAP Financial Measures We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes net loss resulting from repurchases and repayments of debt, restructuring charges, and other items and strategic activities. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment. Management also uses pretax capital generation and capital generation, non-GAAP financial measures, as a key performance measure of our segment. Pretax capital generation represents Consumer & Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer & Insurance allowance for finance receivable losses in the period while still considering the Consumer & Insurance net charge-offs incurred during the period. Capital generation represents the after-tax effect of pretax capital generation. Management believes that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. Management believes that the Company’s reserves, combined with its equity, represent the Company's loss absorption capacity. Management utilizes these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH’s executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP. 2 Important Information
Page 3
3 Our Vision is to be the Lender of Choice for the Nonprime Consumer Meet their needs today OneMain Customers Unsecured loans Secured loans Auto finance Credit cards Financial wellness Insurance Bill negotiation Progress to a better future
Page 4
4 $26.9 billion Managed Receivables* Up 7% YoY $3.0 billion Auto Managed Receivables* $32 million Share repurchases 576 thousand shares 8.2% C&I Net Charge-offs* 7.8% Consumer Loan Net Charge-offs* $1.1 billion Credit Card Receivables $4.3 billion Consumer Loan Originations* Up 10% YoY $229 million Capital Generation* Up 3% YoY $1.6 billion C&I Total Revenue* *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. 1. Yield assumes regular annualized dividend of $4.20 over closing share price of $61.26 as of July 27, 2026. 2Q26 Financial Highlights $1.05 per share ~7% dividend yield1 $1.1 billion ABS Issuance 3-year revolver at 5.14% $1.31 C&I Adjusted Diluted EPS* 4.0 million Customer Accounts Up 14% YoY
Page 5
5 ($ in millions, except Average Assets and Average Net Receivables in billions, and per share statistics) 2Q251Q262Q26 $1,333$1,383 $1,413 Interest Income 141146 163 Other Net Revenue (511)(465)(610)Provision for Loan Losses (415)(437)(439)Operating Expenses (317)(322)(326)Interest Expense $231 $305 $201 Adjusted Pretax Income $173 $229 $151 Adjusted Net Income1 $1,528$1,581 $1,620 Total Revenue $1.45 $1.95 $1.31 Adjusted Diluted EPS $23.6 $24.6 $24.7 Avg. Net Receivables (ANR) $222 $194 $229 Capital Generation1 3.8%3.2%3.7%Capital Generation RoR C&I* Adjusted Earnings SummaryEarnings Summary 2Q251Q262Q26 $231$305 $201 Consumer & Insurance* (1)0(1)Other (16)(9)(4)Reconciling Items* $214 $296 $196 Pretax Income (47)(70)(44)Taxes $167 $226 $152 GAAP Net Income $1.40 $1.93 $1.32 Diluted EPS $26.3$26.9$27.1Average Assets* 2.5%3.4%2.3%Return on Assets* 2Q26 Financial Results Note: Figures may not add due to rounding. *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. 1. Assumes a tax rate of 25% for all periods shown.
Page 6
$24.6 $25.2 $25.9 $26.3 $26.1 $26.9 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $3.0 $3.9 $3.9 $3.6 $3.1 $4.3 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 6 ($ in billions) Highlights •$4.3 billion in 2Q26, up 10% YoY, with conservative credit posture •Growth driven by personal loan product innovation and auto finance Highlights •Managed Receivables up $1.6 billion, or 7% YoY •2Q26 includes $1.7 billion of receivables serviced for third parties •Consumer loan portfolio yield of 22.7%, up 11bps YoY •Credit cards revenue yield of 33.6%, up 330bps YoY Consumer Loan Originations Managed Receivables *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. Originations & Receivables (C&I)*
Page 7
($ in millions) 7 2Q26 Credit Card and Auto Highlights Note: BrightWay® is a registered trademark of OneMain Financial Holdings, LLC. The BrightWay® credit card is issued by WebBank. *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. Everyday transactions Financing at the point of purchase $676 $752 $834 $936 $983 $1,144 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $2,495 $2,614 $2,717 $2,768 $2,849 $2,992 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Managed Receivables* Customer accounts (k) Receivables 920 993 1,081 1,170 1,325 Originations $373 $369 $317 $376 $446 •Digital-first offering that rewards good credit behavior •Targeted and disciplined rollout •Highly rated app with strong customer engagement and usage metrics •Deep experience in secured lending, best-in-class capabilities and strong credit performance •Disciplined and conservative underwriting •Unique capability to serve both independent and franchise dealers and their customers $342836
Page 8
($ in millions) 90+ Days Delinquent 8 $531 $480 $543 $580 $580 $504 2.46% 2.18% 2.41% 2.55% 2.60% 2.21% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. 1. Excludes Foursight, OneMain’s auto finance acquisition in 2Q24. Consumer Loan Delinquency Trends (C&I)*1 Highlights •30-89 delinquency of 2.82%, down 7bps YoY •30+ delinquency of 5.03%, down 4bps YoY •90+ delinquency of 2.21%, up 3bps YoY $1,099 $1,116 $1,217 $1,286 $1,166 $1,147 5.08% 5.07% 5.41% 5.65% 5.22% 5.03% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 30+ Days Delinquent $568 $636 $674 $706 $586 $643 2.63% 2.89% 2.99% 3.10% 2.62% 2.82% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 30-89 Days Delinquent
Page 9
(24bps) (17bps) (28bps) Pre-pandemic Average 2Q25 2Q26 Portfolio Performance is Supported by Credit Tightening (C&I)*1 9 Back Book % of 30+ Delinquent Receivables Back Book % of Portfolio *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. 1. Consumer loan excluding Foursight, OneMain’s auto finance acquisition in 2Q24. 2. Front book represents all consumer loan originations post August 2022 credit tightening. 3. Reflects the average of 2Q17, 2Q18 and 2Q19. 3 30-89 Delinquency 2Q YTD Change 17% 14% 12% 4Q25 1Q26 2Q26 6% 5% 4% 4Q25 1Q26 2Q26 Highlights •Front book2 continues to perform in line with expectations •Back book now accounts for 4% of receivables but contributes 12% to 30+ delinquency •30-89 delinquency year-to-date change better than 2025 and pre-pandemic seasonal trends
Page 10
($ in millions) Loss Reserve Trends C&I Net Charge-offs 10*See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. Credit Trends (C&I)* Highlights •Consumer Loan net charge-offs of 7.8%, following seasonal patterns and in line with expectations •C&I net charge-offs of 8.2%, includes 43bps from credit card o Credit Card net charge-offs of 17.7%, down 186bps YoY •Reserve coverage of 11.6%, reflecting growing credit card portfolio $473 $446 $428 $492 $512 $506 8.17% 7.57% 7.01% 7.90% 8.41% 8.20% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $2,693 $2,758 $2,818 $2,868 $2,821 $2,925 11.5% 11.5% 11.5% 11.5% 11.5% 11.6% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $440 $411 $394 $454 $469 $459 7.83% 7.19% 6.67% 7.56% 8.02% 7.77% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Consumer Loan Net Charge-offs
Page 11
11 Quarterly Operating Expenses % OpEx Ratio % OpEx Ratio ($ in millions) Note: FY and 1H figures may not sum due to rounding. *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. Highlights •2Q26 operating expense of $439 million, up 6% YoY •Continued disciplined expense management and investment in our credit card and auto finance businesses, data science, technology and digital capabilities Operating Expenses (C&I)* Operating Expenses $1,341 $1,424 $1,487 $1,554 $1,687 $876 7.3% 7.1% 7.0% 6.6% 6.7% 6.7% 2021 2022 2023 2024 2025 1H26 $401 $415 $427 $443 $437 $439 6.6% 6.7% 6.6% 6.7% 6.8% 6.7% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26
Page 12
12 Net Leverage* ($ in billions, unless noted) Unsecured Maturities (2026 – 2029) 5.5x 5.5x 5.4x 5.4x 5.5x 2Q25 3Q25 4Q25 1Q26 2Q26 Highlights •Well-positioned funding profile with balanced debt mix, staggered maturities and significant liquidity •Issued $1.1 billion 3-year revolving ABS at 5.14% •Secured debt mix of 52%, down from 57% in 2Q25 Balance Sheet & Funding $0.8 $0.8 $0.6 $0.9 $0.7 2H26 1H27 2H27 1H28 2H28 1H29 2H29 Bank Facilities $6.4 $6.4 $6.4 $6.4 $6.5 $1.1 $1.1 $1.1 $1.1 $1.0 $7.5 $7.5 $7.5 $7.5 $7.5 57% 54% 50% 51% 52% 2Q25 3Q25 4Q25 1Q26 2Q26 Unencumbered Receivables* $9.7 $10.9 $11.8 SecuredUnsecured $11.6$11.4 Coupon 3.50% 6.63% 3.88% 6.63% 5.38% Secured Mix % Note: Figures may not sum due to rounding. *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms.
Page 13
13 1 Business Investment •Balance sheet growth: managed receivables up 7% YoY •Continue to invest in new products and channels, data science, technology, and digital capabilities •Maintain net leverage* of 4-6x Regular Dividend •Board declared regular quarterly dividend of $1.05 per share, payable August 14 •Dividend yield of ~7%1 at current share price 2 Share Repurchases •Repurchased 2.5 million shares for $137 million in 1H26 3 *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. 1. Yield assumes regular annualized dividend of $4.20 over closing share price of $61.26 as of July 27, 2026. Capital Allocation Framework 2
Page 14
14 Commentary2026EKey Metrics •Continued conservative underwriting posture with growth supported by product innovation and new products6% – 9% Managed Receivables Growth •No meaningful change in the macroeconomic environment7.4% – 7.9%C&I Net Charge-offs •Maintaining expense discipline while investing in the business~6.6%Operating Expense Ratio 2026 Strategic Priorities (C&I)* *See appendix for Non-GAAP Financial Measures reconciliations along with defined terms. No change versus prior guidance
Page 16
FY24FY252Q253Q254Q251Q262Q26(unaudited, $ in millions) $707 $988 $211$261$247$293$194Consumer & Insurance (1)(4)(1)(2)--(1)Other (39)1744233Segment to GAAP adjustment $667 $1,001 $214 $263 $249 $296 $196 Income before income taxes - GAAP basis $707 $988 $211 $261 $247 $293 $194 Consumer & Insurance pretax income 33 65 2039-31Net loss on repurchases and repayments of debt 294-2175Restructuring charges 13 3-1221Other1 $782 $1,060 $231 $303 $250 $305 $201 Consumer & Insurance adjusted pretax income (non-GAAP) ($114)($55)($16)($38)($1)($9)($4)Reconciling items2 $782$1,060$231$303$250$305$201Consumer & Insurance adjusted pretax income (non-GAAP) 1,9811,999511 488 542 465 610 Provision for finance receivable losses (1,849)(1,841)(446)(428)(492)(512)(506)Net charge-offs $914 $1,218 $296 $363 $300 $258 $305 Pretax capital generation (non-GAAP) $685 $913 $222 $272 $225 $194 $229 Capital generation, net of tax3 (non-GAAP) Note: Quarters may not sum to fiscal year due to rounding. 1. Other adjustments includes strategic activities and other items. 2. Reconciling Items consist of Total Segment to GAAP Adjustment and the adjustments to Pretax Income (Loss) – Segment Accounting Basis. 3. Income taxes assume a 25% tax rate. Reconciliation of Non-GAAP Measures 16
Page 17
Note: For additional schedules and disclosures, see the earnings release and financial supplements included as an exhibit to the Company’s Current Report on Form 8-K filed July 29, 2026, and available in the Investor Relations (“IR”) section on the Company’s website (www.omf.com) and the SEC’s website (www.sec.gov). Slide 6, 8, and 10: For 1Q25 consumer loan originations, managed receivables, consumer loan delinquency, consumer loan and C&I net charge-offs and loss reserve figures, refer to the Company’s first quarter 2026 earnings presentation on our IR website. Slide 7: For 1Q25 credit card receivables and customer accounts and auto managed receivables and originations, refer to the Company’s first quarter 2026 earnings presentation on our IR website. Slide 9: For average of 2Q17, 2Q18 and 2Q19 refer to the Company’s second quarter 2018 and 2019 earnings presentations and 10K filings on our IR website. Slide 11: For 1Q25 operating expenses refer to the Company’s first quarter 2026 earnings presentation on our IR website. Reconciliation of Non-GAAP Measures (cont’d) 17 6/30/20259/30/202512/31/20253/31/20266/30/2026(unaudited, $ in millions) $23,901 $24,490 $24,853 $24,463 $25,157 Consumer & Insurance (31)(25)(20)(16)(12)Segment to GAAP adjustment $23,870 $24,465 $24,833 $24,447 $25,145 Net finance receivables - GAAP basis $2,758 $2,818 $2,868 $2,821 $2,925 Consumer & Insurance (4)(3)(3)(2)(2)Segment to GAAP adjustment $2,754 $2,815$2,865 $2,819 $2,923 Allowance for finance receivable losses - GAAP basis
Page 18
•Auto Finance: financing at the point of purchase through a network of auto dealerships •Average assets: average of monthly average total assets (total assets at the beginning and end of each month divided by two) in the period •C&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) / weighted average diluted shares •Capital generation: C&I adjusted net income less change in C&I allowance for finance receivable losses, net of tax •Capital generation return on receivables: annualized capital generation / C&I average net receivables •Consumer loans: consist of personal loans and auto finance •Finance receivables serviced for others: unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program plus auto finance loans originated by third parties •Managed receivables: C&I net finance receivables plus finance receivables serviced for our whole loan sale partners plus auto finance loans originated by third parties •Net charge-off ratio: annualized net charge-offs / average net receivables •Net leverage: net adjusted debt / adjusted capital •Opex ratio: annualized C&I operating expenses / average managed receivables •Origination volume: loans originated during the period, including those originated and sold to our whole loan sale partners that we continue to service •Other net revenue: other revenues less insurance policy benefits and claims expense •Personal loans: loans that are secured by automobiles, other collateral or are unsecured and offered through our branch network, central operations, or digital platform •Return on assets (ROA): annualized net income / average total assets •Revenue yield: annualized credit card finance charges and non-interest income as a percentage of average net credit card receivables •Total revenue: C&I interest income plus C&I total other revenue •Unencumbered receivables: unencumbered unpaid principal balance of our consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude interest, fees, and closed accounts with balances Defined Terms 18 Note: See additional defined terms and calculations in the earnings release and financial supplements included as an exhibit to the Company’s Current Report on Form 8-K filed July 29, 2026, and available in the Investor Relations section on the Company’s website (www.omf.com) and the SEC’s website (www.sec.gov).