Slides
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3Q 2026 Earnings Presentation November 3, 2026
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2 FORWARD-LOOKING STATEMENTS This presentation and the accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this presentation and the accompanying oral presentation, including statements as to future performance, results of operations and financial position; achievement of our strategic priorities and goals; our expectations regarding loan origination growth; our expectations regarding macroeconomic conditions and future growth opportunities; our net charge-off rate projections and expectations; our expected pricing initiatives and targeted marketing campaigns; our profitability and future growth opportunities; our total addressable market; our expectation regarding the effect of trends in fair value mark-to-market adjustments on our loan portfolio and asset-backed notes; our expectations regarding the anticipated financial impact and funding cost efficiencies associated with our acquisition of the Oportun-serviced loan portfolio from Pathward; fourth quarter and full-year 2026 outlook; our expectations regarding total revenue, net income, and Adjusted Net Income, Return on Equity and Adjusted ROE, Adjusted EPS, Adjusted EBITDA, operating expenses, originations and annualized NCO rates in full year 2026; business strategy; and plans and objectives of management for future operations of Oportun Financial Corporation (“Oportun,” "we," "us," "our," or the “Company”), are forward-looking statements. These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results and financial position, as well as our plans, objectives and expectations for our performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include those risks described in Oportun's filings with the Securities and Exchange Commission under the caption "Risk Factors", including the Company's most recent annual report on Form 10-K, and include, but are not limited to: our ability to retain existing members and attract new members; our ability to accurately predict demand for, and develop, our financial products and services; the effectiveness of our A.I. model; macroeconomic conditions, including fluctuating inflation and market interest rates; Oportun’s future financial performance, including trends in revenue, net revenue, operating expenses, and net income; increases in loan non-payments, delinquencies and charge-offs; Oportun’s ability to operate successfully in a highly regulated industry; Oportun's ability to increase market share and enter into new markets; Oportun's ability to realize the benefits from acquisitions and integrate acquired technologies; the risk of security breaches or incidents affecting the Company's information technology systems or those of the Company's third-party vendors or service providers; Oportun's ability to successfully offer loans in additional states; Oportun’s ability to compete successfully with companies that are currently in, or may in the future enter, our industry; changes in Oportun's ability to obtain additional financing on acceptable terms or at all; and Oportun's potential need to seek additional strategic alternatives, including restructuring or refinancing its debt, seeking additional debt or equity capital, or reducing or delaying its business activities. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “should,” “target,” “will,” “would,” or the negative of these terms or other similar words. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are only predictions. Oportun has based these forward-looking statements on its current expectations and projections about future events, financial trends and risks and uncertainties that it believes may affect its business, financial condition and results of operations. Also, these forward-looking statements represent the Company’s estimates and assumptions only as of the date of this presentation. The Company assumes no obligation to update any forward-looking statements after the date of this presentation, except as required by law. This presentation also contains estimates and other statistical data made by independent parties and by the Company relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this presentation and, accordingly, it cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of its future performance and the future performance of the industries in which it operates are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by Oportun. You should view this presentation and the accompanying oral presentation with the understanding that our actual future results, levels of activity, performance and achievements may be materially different from what we expect. This presentation includes certain non-GAAP financial measures. Non-GAAP financial measures are presented in addition to, and not as a substitute for, and are not superior to, financial measures calculated in accordance with GAAP. The Company believes these Non-GAAP measures can be useful measures for period-to-period comparisons of our core business and provide useful information to investors and others in understanding and evaluating our operating results. Non-GAAP financial measures are provided in addition to, and not as a substitute for, and are not superior to, financial measures calculated in accordance with GAAP. In addition, the non-GAAP measures we use, as presented, may not be comparable to similar measures used by other companies. See the Appendix for a reconciliation of non-GAAP financial measures to the most comparable measure, calculated in accordance with GAAP. All financial information and other metrics used in this presentation are as of September 30, 2026, unless otherwise noted.
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3 Q3 delivered growth with improved profitability & credit EARNINGS OVERVIEW RETURN TO GROWTH PROFITABILITY CREDIT & FUNDING FY26 outlook raised for revenue and profitability with lower expected credit losses See Appendix for Key Definitions and non-GAAP reconciliation to the most comparable GAAP measure. 3% Q3 revenue growth 21.6% Q3 GAAP ROE 10.6% Annualized NCO rate First Y/Y revenue growth since 4Q23 Originations increased 12% Y/Y Returning member and secured originations increased 25% Y/Y Highest since 1Q22 and second highest as a public company GAAP EPS more than quadrupled Y/Y Adjusted EPS increased 31% Y/Y Lowest Annualized NCO rate since 3Q22 Dollar net charge-offs declined 10% Y/Y Interest expense declined 27% Y/Y LEADERSHIP ADDITIONS Bill Franklin Chief Financial Officer Bernardo Martinez Chief Retail and Sales Officer Garrett Hope Chief Product Officer
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4 A large addressable market and differentiated capabilities MARKET OPPORTUNITY AND DIFFERENTIATED CAPABILITIES ¹ TAM (total addressable market) starts with the total U.S. adult population and excludes individuals who do not meet our risk approval criteria or do not have a need for our products. Our estimate of 119M U.S. addressable consumers is based on internal analyses and assumptions that may prove incorrect. The estimate is forward-looking, inherently uncertain, and does not account for competitive, regulatory, or technological developments that may limit the market we can serve. Actual market size and our ability to capture any portion of it may differ materially from our estimates. TAM is not a forecast of our revenue, growth, or market share. Latino/non-Latino TAM breakout reflects internal estimates based on Spanish-surname. Classification is not based on self-reported ethnicity and may misclassify individuals in either group. ² U.S. Census data as of 2025. ADDRESSABLE MARKET DIFFERENTIATED CAPABILITIES Oportun Forward strategic opportunity: Better product fit Stronger conversion Better economics Greater capacity for responsible growth BILINGUAL BY DESIGN Products and services offered in English and Spanish, across all channels 20 YEARS OF DATA SCIENCE INNOVATION Proprietary data advantage, pioneers in alternative data and machine learning usage towards underserved communities OMNI-CHANNEL PRESENCE 123 retail locations, ~460 LaaS locations and 1,000+ agents, mobile app with 4.7/5.0 Apple Store Rating CAPITAL MARKETS ACCESS 55 unique ABS investors and 5 warehouse facilities 270M U.S. adult population² 119M Total addressable market¹ 42M1 Latino 77M1 Non-Latino 1.1M Active Members
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5 STRATEGY Forward Our mission: Empowering members to build a better future THREE STRATEGIC PRIORITIES Drive durable growth Match qualified consumers to the right product and broaden the funnel Responsibly revitalizing the new member engine Build lasting member relationships Reward strong performance with better offers, less friction and an interconnected experience Recognizing and rewarding returning members Deliver predictable returns Improve member lifecycle decisioning, scale efficiently and maintain capital and funding capacity Reducing volatility across cycles Designed to accelerate our mission and enhance shareholder value over time
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6 PERFORMANCE VS. GUIDANCE Oportun exceeded high end of Q3 guidance 1 See Appendix for Key Definitions and non-GAAP reconciliation to the most comparable GAAP measure. METRIC 3Q 2026 GUIDANCE 3Q 2026 ACTUAL TOTAL REVENUE $235 - $240M $246M Above high end NCO RATE (%)1 11.0% +/- 15 bps 10.6% Better than range ADJUSTED EBITDA1 $43 - $48M $56M Above high end
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7 Strength across metrics defined Q3 FINANCIAL HIGHLIGHTS ¹ See Appendix for Key Definitions and non-GAAP reconciliation to the most comparable GAAP measure. $246M Total Revenue +3% Y/Y $23M GAAP Net Income +341% Y/Y $26M Adjusted Net Income¹ +38% Y/Y $56M Adjusted EBITDA¹ +37% Y/Y 10.6% NCO Rate¹ -121 bps Y/Y $0.51 Adjusted EPS¹ +31% Y/Y
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8 CREDIT PERFORMANCE NCO rate down sharply Y/Y and sequentially 30+ DAY DELINQUENCY RATE1 (61)bps(61) bps (121) bps NCO RATE1 1 See Appendix for definition of Annualized Net Charge-Off Rate and 30+ Day Delinquency Rate; numbers may not foot or cross-foot due to rounding. (139) bps 4.7% 4.0% 4.1% 3Q25 2Q26 3Q26 11.8% 12.0% 10.6% 3Q25 2Q26 3Q26
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9 Q3 originations growth supported by lower-risk segments AGGREGATE ORIGINATIONS $572M +12% Y/Y Y/Y growth accelerated from 1% in Q2 LOWER-RISK SEGMENTS $470M +25% Y/Y Unsecured returning member and secured originations grew by 25% and 24%, respectively AGGREGATE ORIGINATIONS ($M) UNSECURED RETURNING MEMBER AND SECURED PERSONAL LOANS ORIGINATIONS ($M) 12% 25% ORIGINATIONS GROWTH $376 $411 $470 3Q25 2Q26 3Q26 $512 $488 $572 3Q25 2Q26 3Q26 Note: Numbers may not foot or cross-foot due to rounding.
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10 7.1x 6.2x 3Q25 3Q26 CAPITAL AND LIQUIDITY $(68) (193)bps(0.9)x $77 Oportun has increased unrestricted cash while reducing corporate debt UNRESTRICTED CASH EOP ($M) CORPORATE DEBT EOP ($M) DEBT TO EQUITY (LEVERAGE) COST OF DEBT $105 $181 3Q25 3Q26 8.1% 6.1% 3Q25 3Q26 See Appendix for Key Definitions. Numbers may not foot or cross-foot due to rounding. $203 $135 3Q25 3Q26
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11 5.4% 21.6% 19.6% 24.4% 3Q25 3Q26 3Q25 3Q26 CORPORATE PROFITABILITY ROE reached the target range 3Q26 YEAR-OVER-YEAR DRIVERS +136 bps PORTFOLIO YIELD 33.0% → 34.4% -193 bps COST OF DEBT 8.1% → 6.1% -121 bps NCO RATE 11.8% → 10.6% GAAP ROA 0.7% 2.9% 2.4% 3.2% 3Q25 3Q26 3Q25 3Q26 IN RANGE 1 Corporate level ROA based on assumed tax rate of 27.0%. 2 Long-term targets are GAAP metrics. For comparison purposes, quarterly metrics are presented on an adjusted basis to exclude non-recurring items. See Appendix for Key Definitions and non-GAAP reconciliation to the most comparable GAAP measure. ADJUSTED ROA1,2 GAAP ROE ADJUSTED ROE2 Target range 3-4% Target range 20-28% IN RANGEIN RANGE
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12 METRIC 4Q 2026E FY 2026E TOTAL REVENUE $247 - $252M $955 - $960M NCO RATE (%)1 11.05% +/- 15 bps 11.6% +/- 10 bps ADJUSTED EBITDA1 $49 - $54M $183 - $188M ADJUSTED NET INCOME1 $80 - $85M ADJUSTED EPS1,2 $1.60 - $1.70 GUIDANCE Full-year guidance raised across metrics Full-year guidance at midpoints now reflects revenue growth and higher Adjusted EPS 1 See Appendix for Key Definitions and the forward looking adjusted EBITDA, Adjusted Net Income and Adjusted EPS reconciliation slides for a reconciliation to the most comparable GAAP measure; numbers may not foot or cross-foot due to rounding. 2 Assumes 50.2M fully diluted shares.
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Appendix Definitions, operating detail, financial statements, and non-GAAP reconciliations
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14 APPENDIX Key definitions • 30+ Day Delinquency Rate is the unpaid principal balance for our owned loans that are 30 or more calendar days contractually past due as of the end of the period divided by Owned Principal Balance as of such date • Active Members is the number of unique individuals who, at the end of a reporting period, have either an outstanding loan owned or serviced by us, excluding charged-off loans, or a qualifying active Savings relationship. Loans include those originated by us or under a bank partnership program that we service. • Adjusted EBITDA is a non-GAAP financial measure calculated as net income, adjusted to eliminate the effect of the following items: income tax expense (benefit), stock-based compensation expense, depreciation and amortization, interest expense from corporate financing, certain non-recurring charges, and fair value mark-to-market adjustment • Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by total revenue • Adjusted Earnings Per Share (EPS) is a non-GAAP financial measure calculated by dividing Adjusted Net Income by diluted adjusted weighted-average common shares outstanding • Adjusted Net Income is a non-GAAP financial measure calculated by adjusting our net income for the impact of our election of the fair value option, and further adjusted to exclude income tax expense (benefit), stock-based compensation expense, fair value mark-to-market adjustment on asset-backed notes, and certain non-recurring charges • Adjusted Operating Expense is a non-GAAP financial measure calculated by adjusting total operating expenses to exclude stock-based compensation expense and certain non-recurring charges • Adjusted OpEx Ratio is a non-GAAP financial measure calculated as Adjusted Operating Expense divided by Average Daily Principal Balance • Adjusted Return on Equity ("Adjusted ROE") is a non-GAAP financial measure calculated by dividing annualized Adjusted Net Income by average total stockholders’ equity; prior to January 1, 2020, Adjusted ROE was calculated by dividing annualized Adjusted Net Income by average total stockholders' equity • Adjusted Return on Assets ("Adjusted ROA") is annualized Adjusted Net Income as a percentage of average total assets during the period • Aggregate Originations is the aggregate amount disbursed to borrowers during a specified period, including amounts originated by us through our Lending as a Service partners or under our bank partnership programs. Aggregate Originations exclude any fees in connection with the origination of a loan • Annualized Net Charge-Off Rate ("NCO Rate") is calculated as annualized loan principal losses (net of recoveries) divided by the Average Daily Principal Balance of owned loans for the period • Average Daily Debt Balance is the average of outstanding debt principal balance at the end of each calendar day during the period • Average Daily Principal Balance ("ADPB") is the average of outstanding principal balance of owned loans at the end of each calendar day during the period • Corporate Debt is a senior secured term loan secured by the assets and certain of its subsidiaries guaranteeing the term loan, including pledges of the equity interests of certain subsidiaries that are directly or indirectly owned by the Company • Cost of Debt is calculated as annualized interest expense divided by Average Daily Debt Balance
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15 APPENDIX Key definitions (cont’d) • Customer Acquisition Cost (or "CAC") is calculated as sales and marketing expenses, which include the costs associated with various paid marketing channels, including direct mail, digital marketing and brand marketing and the costs associated with our telesales and retail operations divided by number of loans originated to new and returning borrowers during a period • Debt to Equity (or "Leverage") is calculated as total debt outstanding divided by total stockholder's equity outstanding • Loans Receivable at Fair Value are all loans receivable held for investment. Loans Receivable at Fair Value include loans receivable on our unsecured and secured personal loan products. • Managed Principal Balance at End of Period is the total amount of outstanding principal balance for all loans, including loans sold, which we continue to service, at the end of the period. Managed Principal Balance at End of Period also includes loans and accounts originated under a bank partnership program that we service • Net Interest Margin is calculated by subtracting interest expense from total revenue • Net Interest Margin Ratio is calculated as annualized Net Interest Margin divided by Average Daily Principal Balance • Net Charge-Offs ("NCO") is loan principal losses (net of recoveries) • OpEx is total operating expense • OpEx Ratio is calculated as annualized Operating Expense divided by Average Daily Principal Balance • Owned Principal Balance EOP is the total amount of outstanding principal balance for all loans, including finance receivables pledged as part of a secured borrowing and excluding loans and receivables sold or retained by a bank partner, at the end of the period • Portfolio Yield is annualized interest income as a percentage of Average Daily Principal Balance • Return on Assets ("ROA") is annualized net income as a percentage of average total assets during the period • Return on Equity ("ROE") is calculated as annualized net income divided by average stockholders' equity for a period • Risk Adjusted Net Interest Margin is a non-GAAP financial measure calculated by adjusting our Net Interest Margin to exclude the impact of fair value mark-to-market adjustment on Loans Receivable at Fair Value, Charge-offs, net of recoveries on Loans Receivable at Fair Value, debt restructuring costs, and certain non-recurring charges • Risk Adjusted Net Interest Margin Ratio is a non-GAAP financial measure calculated as annualized Risk Adjusted Net Interest Margin divided by Average Daily Principal Balance
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16 659 average Vantage score at origination1 ~98% of ending principal balance had a Vantage score at origination APPENDIX U.S. BANK ACCOUNTS 95% of loans disbursed to U.S. bank accounts2 EMPLOYMENT STABILITY 5.7 years on average with the same employer RESIDENTIAL STABILITY 6.5 years on average at the same residence Member stability supports a disciplined credit stance Figures reflect member attributes for loans originated during 3Q26. 1 Active loans as of 9/30/26. 2 Oportun does not disburse loans to non-U.S. bank accounts.
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17 APPENDIX 3.2% 20% TOTAL REVENUE $246M +3.2% Y/Y Driven by higher originations NET REVENUE $127M +20% Y/Y Lower interest expense Y/Y Q3 total revenue grew for the first time since 4Q23 TOTAL REVENUE ($M) NET REVENUE ($M) $239 $233 $246 3Q25 2Q26 3Q26 $105 $106 $127 3Q25 2Q26 3Q26
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18 APPENDIX $106 $134 YTD 2025 YTD 2026 $41 $49 $56 3Q25 2Q26 3Q26 $56M of Q3 Adjusted EBITDA, up 37% Y/Y Adjusted EBITDA Margin (%)1 27% 14.9% 19.0% Adjusted EBITDA Margin (%)1 37% 17.3% 20.8% 22.9% ADJUSTED EBITDA ($M)1 1 See Appendix for Key Definitions and non-GAAP reconciliation to the most comparable GAAP measure; numbers may not foot or cross-foot due to rounding.
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19 APPENDIX $5.2 $8.5 $23 3Q25 2Q26 3Q26 $23M of Q3 Net Income, up 341% Y/Y NET INCOME ($M) ROE (%) 5.4% 21.6%8.5% 341% ROE (%) 7.9% 11.0% $22 $34 YTD 2025 YTD 2026 55% Note: Numbers may not foot or cross-foot due to rounding.
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20 APPENDIX $26M of Q3 Adjusted Net Income, up 38% Y/Y ADJUSTED NET INCOME ($M)1 Adjusted ROE (%)1 19.6% 24.4%20.5% $19 $21 $26 3Q25 2Q26 3Q26 38% Adjusted ROE (%)1 18.9% 18.4% $52 $57 YTD 2025 YTD 2026 9% 1 See Appendix for Key Definitions and non-GAAP reconciliation to the most comparable GAAP measure; numbers may not foot or cross-foot due to rounding.
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21 APPENDIX Quarter Ended Nine Months Ended September 30 Change Change Other Useful Metrics 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Managed Principal Balance EOP (Millions) $2,847.5 $2,777.7 $2,804.3 $2,914.0 $2,941.8 (3.2)% $2,847.5 $2,941.8 (3.2)% Owned Principal Balance EOP (Millions) $2,677.3 $2,613.4 $2,640.6 $2,739.0 $2,632.7 1.7% $2,677.3 $2,632.7 1.7% Average Daily Principal Balance (Millions) $2,669.0 $2,643.0 $2,721.6 $2,765.0 $2,669.5 —% $2,677.6 $2,680.4 (0.1)% Average Daily Debt Balance (Millions) $2,666.2 $2,666.2 $2,764.1 $2,892.2 $2,788.9 (4.4)% $2,698.5 $2,802.2 (3.7)% Debt to Equity (Leverage) 6.2x 6.5x 6.8x 7.2x 7.1x (0.9)x 6.2x 7.1x (0.9)x Annualized interest expense (Millions) $163.2 $168.2 $194.6 $229.9 $224.6 (27.4)% $175.2 $232.1 (24.5)% Cost of Debt (%) 6.1% 6.3% 7.0% 7.9% 8.1% (193) bps 6.5% 8.3% (179) bps Customer Acquisition Cost1 $131 $127 $134 $111 $103 27.2% $131 $118 11.0% Key financial & operating metrics Quarter Ended Nine Months Ended September 30 Change Change 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Aggregate Originations (Millions) $571.8 $487.7 $416.9 $494.9 $511.8 11.7% $1,476.5 $1,461.9 1.0% Portfolio Yield (%) 34.4% 33.3% 32.1% 33.3% 33.0% 136 bps 33.3% 33.0% 31 bps 30+ Day Delinquency Rate (%) 4.1% 4.0% 4.5% 4.9% 4.7% (61) bps 4.1% 4.7% (61) bps Annualized Net Charge-Off Rate (%) 10.6% 12.0% 12.7% 12.3% 11.8% (121) bps 11.7% 12.0% (21) bps 1 Sales and marketing expenses divided by the number of loans originated in the respective periods. Note: See Appendix for Key Definitions, numbers may not foot or cross-foot due to rounding.
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22 APPENDIX Condensed consolidated income statement Quarter Ended Nine Months Ended September 30 Change Change ($ Millions, except per share data. Shares in Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Interest income $231.4 $219.3 $215.7 $232.4 $222.3 4.1% $666.4 $660.8 0.8% Non-interest income 14.8 14.0 13.1 15.4 16.3 (9.2)% 41.9 48.1 (12.9)% Total revenue $246.3 $233.2 $228.8 $247.7 $238.7 3.2% $708.3 $708.9 (0.1)% Less: Interest expense $41.1 $41.9 $48.0 $57.9 $56.6 (27.4)% $131.0 $173.6 (24.5)% Net increase (decrease) in fair value (78.6) (85.7) (85.9) (99.4) (77.0) (2.0)% (250.1) (219.9) (13.7)% Net Revenue $126.6 $105.6 $94.9 $90.4 $105.1 20.5% $327.1 $315.4 3.7% Operating expenses: Sales and marketing $21.1 $17.6 $15.9 $16.1 $16.5 28.0% $54.7 $54.5 0.4% Other operating expenses 70.9 72.4 75.4 67.7 74.3 (4.6)% 218.7 223.5 (2.1)% Total operating expenses $92.0 $90.0 $91.3 $83.8 $90.8 1.3% $273.3 $277.9 (1.7)% Income before taxes $34.6 $15.6 $3.6 $6.6 $14.2 142.8% $53.8 $37.5 43.3% Income tax provision 11.7 7.1 1.2 3.2 9.0 28.8% 20.0 15.7 27.3% Net income $22.9 $8.5 $2.3 $3.4 $5.2 341.2% $33.8 $21.8 54.8% Memo: Earnings per share $0.47 $0.18 $0.05 $0.07 $0.11 327.3% $0.70 $0.47 48.9% Diluted earnings per share $0.45 $0.17 $0.05 $0.07 $0.11 309.1% $0.68 $0.46 47.8% Weighted average common shares outstanding - basic 48.6 48.4 47.4 46.9 46.7 4.0% 48.2 46.3 4.1% Weighted average common shares outstanding - diluted 51.0 49.4 48.5 48.2 48.3 5.5% 49.6 47.8 3.9% Note: Numbers may not foot or cross-foot due to rounding.
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23 APPENDIX Condensed consolidated balance sheet Quarter Ended Change ($ Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y Cash and cash equivalents $181.2 $139.6 $130.4 $105.5 $104.6 73.2% Restricted cash 77.2 72.8 79.5 93.4 119.3 (35.3)% Total cash $258.4 $212.4 $209.9 $198.9 $224.0 15.4% Loans receivable at fair value 2,795.5 2,736.8 2,771.8 2,874.1 2,759.7 1.3% Other assets 160.0 180.1 185.8 184.8 202.6 (21.0)% Total assets $3,213.8 $3,129.3 $3,167.5 $3,257.9 $3,186.2 0.9% Secured financing $449.7 $304.2 $212.5 $199.4 $161.9 177.7% Asset-backed notes at fair value 93.5 137.8 194.3 263.8 352.8 (73.5)% Asset-backed borrowings at amortized cost 2,039.0 2,088.5 2,154.4 2,192.6 2,040.1 (0.1)% Corporate financing 121.2 119.9 145.1 143.7 175.7 (31.0)% Other liabilities 77.0 71.9 65.0 68.3 71.8 7.2% Total liabilities $2,780.3 $2,722.2 $2,771.3 $2,867.8 $2,802.3 (0.8)% Total stockholders' equity $433.4 $407.1 $396.3 $390.1 $383.9 12.9% Total liabilities and stockholders' equity $3,213.8 $3,129.3 $3,167.5 $3,257.9 $3,186.2 0.9% Note: Numbers may not foot or cross-foot due to rounding.
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24 APPENDIX Adjusted EBITDA reconciliation Quarter Ended Nine Months Ended September 30, Change Change ($ Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Net income $22.9 $8.5 $2.3 $3.4 $5.2 341.2% $33.8 $21.8 54.8% Adjustments: Income tax expense (benefit) $11.7 $7.1 $1.2 $3.2 $9.0 28.8% $20.0 $15.7 27.3% Interest on corporate financing 5.8 6.0 7.0 7.5 9.0 (36.0)% 18.7 28.2 (33.5)% Depreciation and amortization 8.8 8.8 9.0 9.5 10.2 (13.6)% 26.7 32.0 (16.7)% Stock-based compensation expense 2.9 2.6 3.0 2.7 2.5 15.2% 8.4 8.0 4.5% Other non-recurring charges (receipts), net (2.8) 9.0 6.0 6.6 4.4 NM 12.2 10.0 21.7% Fair value mark-to-market adjustment 7.2 6.6 0.8 9.7 0.8 750.6% 14.7 (9.8) NM Adjusted EBITDA $56.5 $48.6 $29.4 $42.5 $41.2 37% $134.4 $106.0 27% Memo: Total revenue $246.3 $233.2 $228.8 $247.7 $238.7 3.2% $708.3 $708.9 (0.1)% Adjusted EBITDA Margin (%)1 22.9% 20.8% 12.8% 17.1% 17.3% 567 bps 19.0% 14.9% 403 bps 1 Calculated as Adjusted EBITDA divided by total revenue. Note: Numbers may not foot or cross-foot due to rounding.
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25 APPENDIX Adjusted Net Income reconciliation Quarter Ended Nine Months Ended September 30, Change Change ($ Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Net income $22.9 $8.5 $2.3 $3.4 $5.2 341.2% $33.8 $21.8 54.8% Adjustments: Income tax expense $11.7 $7.1 $1.2 $3.2 $9.0 28.8% $20.0 $15.7 27.3% Stock-based compensation expense 2.9 2.6 3.0 2.7 2.5 15.2% 8.4 8.0 4.5% Other non-recurring charges (receipts), net (2.8) 9.0 6.0 6.6 4.4 NM 12.2 10.0 21.7% Mark-to-market adjustment on ABS notes 0.7 1.0 1.4 2.0 4.6 (83.7)% 3.2 15.8 (79.8)% Adjusted income before taxes $35.4 $28.2 $14.0 $17.8 $25.7 37.8% $77.6 $71.4 8.6% Normalized income tax expense (9.6) (7.6) (3.8) (4.8) (6.9) (37.8)% (20.9) (19.3) (8.6)% Income tax rate (%) 27.0% 27.0% 27.0% 27.0% 27.0% 27.0% 27.0% Adjusted Net Income $25.9 $20.6 $10.2 $13.0 $18.8 37.8% $56.6 $52.1 8.6% Memo: Stockholders' equity $433.4 $407.1 $396.3 $390.1 $383.9 12.9% $433.4 $383.9 12.9% GAAP ROE 21.6% 8.5% 2.4% 3.5% 5.4% 1,622 bps 11.0% 7.9% 306 bps Adjusted ROE (%)1 24.4% 20.5% 10.5% 13.3% 19.6% 481 bps 18.4% 18.9% (52) bps Total assets $3,213.8 $3,129.3 $3,167.5 $3,257.9 $3,186.2 0.9% $3,213.8 $3,186.2 0.9% GAAP ROA 2.9% 1.1% 0.3% 0.4% 0.7% 221 bps 1.4% 0.9% 49 bps Adjusted ROA2 3.2% 2.6% 1.3% 1.6% 2.4% 87 bps 2.3% 2.2% 17 bps Note: Numbers may not foot or cross-foot due to rounding. 1 Calculated as Adjusted Net Income divided by average stockholders’ equity. ROE has been annualized. 2 Calculated as Adjusted Net Income divided by average total assets. ROA has been annualized.
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26 APPENDIX Adjusted Operating Expense and Adjusted Operating Expense Ratio reconciliation Quarter Ended Nine Months Ended September 30, Change Change ($ Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y OpEx Ratio (%) 13.7% 13.7% 13.6% 12.0% 13.5% 17 bps 13.6% 13.9% (21) bps Total operating expense $92.0 $90.0 $91.3 $83.8 $90.8 1.3% $273.3 $277.9 (1.7)% Less: Stock-based compensation expense (2.9) (2.6) (3.0) (2.7) (2.5) (15.2)% (8.4) (8.0) (4.5)% Other non-recurring (charges) receipts, net 3.3 (3.3) (3.1) (0.5) (3.6) NM (3.1) (7.7) 59.6% Total Adjusted Operating Expense $92.4 $84.1 $85.2 $80.7 $84.7 9.2% $261.8 $262.1 (0.1)% Average Daily Principal Balance $2,669.0 $2,643.0 $2,721.6 $2,765.0 $2,669.5 —% $2,677.6 $2,680.4 (0.1)% Adjusted OpEx Ratio (%) 13.7% 12.8% 12.7% 11.6% 12.6% 116 bps 13.1% 13.1% (1) bps Note: Numbers may not foot or cross-foot due to rounding.
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27 APPENDIX Risk Adjusted Net Interest Margin reconciliation Quarter Ended Nine Months Ended September 30, Change Change ($ Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Total Revenue $246.3 $233.2 $228.8 $247.7 $238.7 3.2% $708.3 $708.9 (0.1)% Less: Interest Expense 41.1 41.9 48.0 57.9 56.6 (27.4)% 131.0 173.6 (24.5)% Net Interest Margin $205.1 $191.3 $180.8 $189.8 $182.1 12.7% $577.2 $535.4 7.8% Net Interest Margin Ratio (%) 30.5% 29.0% 26.9% 27.2% 27.1% 343 bps 28.8% 26.7% 211 bps Adjustments: Mark-to-market adjustment on loans $(6.5) $(5.6) $(0.7) $4.9 $6.6 NM $(12.7) $28.1 NM Mark-to-market adjustment on derivatives — — 1.2 (12.6) (2.9) 100.0% 1.2 (2.5) NM Net settlements on derivative instruments — — (0.2) (4.0) 3.4 (100.0)% (0.2) 10.1 NM Net charge-offs (71.4) (79.0) (84.9) (85.7) (79.6) 10.3% (235.3) (239.8) 1.9% Debt restructuring costs — 5.1 2.3 5.4 — NM 7.4 — NM Other non-recurring charges 0.6 0.6 0.6 0.7 0.8 (28.1)% 1.7 2.3 (24.9)% Risk Adjusted Net Interest Margin $127.9 $112.3 $99.2 $98.5 $110.4 15.8% $339.4 $333.5 1.7% Average Daily Principal Balance $2,669.0 $2,643.0 $2,721.6 $2,765.0 $2,669.5 —% $2,677.6 $2,680.4 (0.1)% Risk Adjusted Net Interest Margin Ratio (%) 19.0% 17.0% 14.8% 14.1% 16.4% 261 bps 16.9% 16.6% 30 bps Note: Numbers may not foot or cross-foot due to rounding.
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28 APPENDIX Basic and diluted earnings per share reconciliation Quarter Ended Nine Months Ended September 30 Change Change ($ Millions, except per share data. Shares in Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Net income $22.9 $8.5 $2.3 $3.4 $5.2 341.2% $33.8 $21.8 54.8% Net income attributable to common stockholders $22.9 $8.5 $2.3 $3.4 $5.2 341.2% $33.8 $21.8 54.8% Basic weighted-average common shares outstanding 48.6 48.4 47.4 46.9 46.7 4.0% 48.2 46.3 4.1% Weighted average effect of dilutive securities: Stock options — — — — — NM — — NM Restricted stock units 2.4 1.0 1.1 1.3 1.6 49.8% 1.5 1.5 (0.6)% Diluted weighted-average common shares outstanding 51.0 49.4 48.5 48.2 48.3 5.5% 49.6 47.8 3.9% Earnings per share: Basic $0.47 $0.18 $0.05 $0.07 $0.11 327.3% $0.70 $0.47 48.9% Diluted $0.45 $0.17 $0.05 $0.07 $0.11 309.1% $0.68 $0.46 47.8% Note: Numbers may not foot or cross-foot due to rounding.
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29 APPENDIX Adjusted Earnings Per Share reconciliation Quarter Ended Nine Months Ended September 30 Change Change ($ Millions, except per share data. Shares in Millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Y / Y 2026 2025 Y / Y Diluted earnings per share $0.45 $0.17 $0.05 $0.07 $0.11 309.1% $0.68 $0.46 47.8% Adjusted Net Income $25.9 $20.6 $10.2 $13.0 $18.8 37.8% $56.6 $52.1 8.6% Basic weighted-average common shares outstanding 48.6 48.4 47.4 46.9 46.7 4.0% 48.2 46.3 4.1% Weighted average effect of dilutive securities: Stock options — — — — — NM — — NM Restricted stock units 2.4 1.0 1.1 1.3 1.6 49.8% 1.5 1.5 (0.6)% Diluted adjusted weighted-average common shares outstanding 51.0 49.4 48.5 48.2 48.3 5.5% 49.6 47.8 3.9% Adjusted EPS $0.51 $0.42 $0.21 $0.27 $0.39 30.6% $1.14 $1.09 4.5% Note: Numbers may not foot or cross-foot due to rounding.
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30 APPENDIX Quarter Ended Change $ Millions 3Q26 2Q26 3Q25 2Q25 Q / Q Y / Y Loan Portfolio Drivers Discount rate 6.5% 6.3% 6.3% 7.0% 23 bps 28 bps Remaining cumulative charge-offs as a % of principal balance 12.0% 12.2% 12.2% 12.0% (21) bps (22) bps Average life in years 1.03 1.04 1.07 1.08 -0.01 -0.04 Loans Receivable at Fair Value Fair value loan portfolio – principal balance $2,677.3 $2,613.4 $2,632.7 $2,636.4 $64.0 $44.6 Interest and Fee Receivable, net 36.3 35.1 37.3 36.1 1.2 (1.0) Cumulative fair value mark-to-market adjustment 81.8 88.2 89.6 83.0 (6.5) (7.8) Fair value loan portfolio - end of period $2,795.5 $2,736.8 $2,759.7 $2,755.5 $58.7 $35.8 Price 104.3% 104.6% 104.8% 104.5% (30) bps (57) bps Asset-Backed Notes at Fair Value Carrying value of asset-backed notes $94.8 $139.8 $359.3 $629.0 $(45.1) $(264.5) Cumulative fair value mark-to-market adjustment (1.3) (2.0) (6.5) (11.1) 0.7 5.2 Fair value asset-backed notes – end of period $93.5 $137.8 $352.8 $617.9 $(44.3) $(259.3) Price 98.6% 98.5% 98.2% 98.2% 9 bps 45 bps Net Change in Fair Value Summary Mark-to-market adjustment on loans (6.5) (5.6) 6.6 9.1 (0.9) (13.1) Mark-to-market adjustment on asset-backed notes (0.7) (1.0) (4.6) (3.4) 0.3 3.8 Mark-to-market adjustment on derivatives — — (2.9) — — 2.9 Total fair value mark-to-market adjustment (7.2) (6.6) (0.8) 5.7 (0.6) (6.4) Net charge-offs (71.4) (79.0) (79.6) (79.0) 7.7 8.2 Net settlements on derivative instruments — — 3.4 3.0 — (3.4) Total Net Change in Fair Value $(78.6) $(85.7) $(77.0) $(70.3) $7.1 $(1.6) vs vs vs vs • A • B Increase in FV of Notes will decrease Net Revenue Increase in FV of Loans will increase Net Revenue Net change in fair value • B B A Note: Numbers may not foot or cross-foot due to rounding.
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31 APPENDIX Net lifetime loan loss rates by vintage Note: The chart above includes all personal loan originations by vintage, excluding loans originated from July 2017 to August 2020 and December 2023 through the current period under a loan program for customers who did not meet the qualifications for our core loan origination program. 100% of those loans were sold pursuant to a whole loan sale arrangement. The 2021 vintage is experiencing higher charge-offs than prior vintages primarily due to a higher percentage of loan disbursements to new members. We tightened credit and began reducing loan volumes to new and returning members in the third quarter of 2021 and reduced significantly in the second half of 2022. YEAR OF ORIGINATION 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Dollar Weighted Average Original Term for Vintage (Months) 24.2 26.3 29.0 30.0 32.0 33.3 37.8 39.2 35.6 33.7 Net Lifetime Loan Losses as % of Original Principal Balance 8.0% 8.2% 9.8% 10.8% 9.0% 18.4% 22.5%* 16.3%* 11.2%* 4.6%* Outstanding Principal Balance as % of Original Amount Disbursed 0.0% 0.0% 0.0% —% —% 0.2% 2.1% 11.5% 27.7% 65.1% * Vintage is not fully mature from a loss perspective. CUMULATIVE NET PRINCIPAL CHARGE-OFFS
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32 APPENDIX Forward-looking Adjusted EBITDA reconciliation 4Q 2026 FY 2026 ($ Millions) Low High Low High Net income $21.8 $26.2 $55.6 $60.0 Adjustments: Income tax expense (benefit) $11.8 $14.3 $31.3 $33.8 Interest on corporate financing 5.9 5.9 24.6 24.6 Depreciation and amortization 8.7 8.7 35.3 35.3 Stock-based compensation expense 3.5 3.5 11.9 11.9 Other non-recurring charges (receipts), net (5.2) (5.2) 7.0 7.0 Fair value mark-to-market adjustment 2.6 0.7 17.2 15.4 Adjusted EBITDA $49.0 $54.0 $183.0 $188.0 Note: Numbers may not foot or cross-foot due to rounding.
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33 APPENDIX Forward-looking Adjusted Net Income and Adjusted Earnings Per Share reconciliation FY 2026 ($ Millions, except per share data. Shares in Millions) Low High Net Income $55.6 $60.0 Adjustments: Income tax expense (benefit) $31.3 $33.8 Stock-based compensation expense 11.9 11.9 Other non-recurring charges 7.0 7.0 Mark-to-market adjustment on ABS notes 3.8 3.8 Adjusted income before taxes $109.6 $116.4 Normalized income tax expense 29.6 31.4 Adjusted Net Income $80.0 $85.0 Diluted adjusted weighted-average common shares outstanding 50.2 50.2 Diluted earnings per share $1.11 $1.20 Adjusted EPS $1.60 $1.70 Note: Numbers may not foot or cross-foot due to rounding.
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EARNINGS PRESENTATION November 3, 2026