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| 3Q26 Presentation 1 Third Quarter 2026 Earnings Presentation November 4, 2026
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| 3Q26 Presentation 2 Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation (the “Presentation”) contains summary information about the activities of Sezzle as of the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete and the information in the Presentation remains subject to change without notice. Also, the information in the Presentation should not be relied upon as advice to potential investors or current shareholders. This Presentation has been prepared without taking into account the objectives, financial situation or needs of any particular prospective investor or current shareholder. Before making an investment decision, prospective investors and current shareholders should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek appropriate advice, including financial, legal and taxation advice appropriate to their jurisdiction. The Presentation also includes information regarding our market and industry that is derived from publicly available third-party sources that have not been independently verified by Sezzle. This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including but not limited to forward-looking statements regarding anticipated new products, our ability to gain future market share, our timeline and intentions relating to operations, our business strategy, our estimated revenues and losses, our prospects, and the plans and objectives of management. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," other words or expressions of similar meaning (or the negative versions of such words or expressions). These forward-looking statements are based on our current expectations and assumptions and on information currently available to us. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including but not limited to those set out in this Presentation and: (i) the possibility that Sezzle’s national bank charter application, or other expected applications associated with that application may not be approved timely, if at all; (ii) the uncertain nature of the impact that a national bank charter may have on Sezzle's business; (iii) impact of the “buy-now, pay-later” (“BNPL”) industry becoming subject to increased regulatory scrutiny; (iv) impact of operating in a highly competitive industry; (v) impact of macro-economic conditions on consumer spending and consumer credit; (vi) our ability to maintain our relationship with our existing merchant base, increase our merchant network and Total Transaction Volume (“TTV”); (vii) our ability to retain and increase our consumer base and TTV; (viii) our ability to retain and increase our subscriber base and subscription revenue; (ix) our ability to effectively manage growth, sustain our growth rate and maintain our market share; (x) our ability to maintain adequate access to capital in order to meet the capital requirements of our business; (xi) the loans facilitated through the Sezzle Platform involve a high degree of financial risk; (xii) our reliance on our originating bank partner to originate a substantial majority of the loans facilitated by the Sezzle Platform; (xiii) our reliance on third-party data to assess creditworthiness of consumers; (xiv) impact of exposure to consumer bad debts and insolvency of merchants; (xv) our ability to comply with the applicable requirements of Visa and other payment processors; (xvi) impact of the integration, support and prominent presentation of our platform by our merchants; (xvii) impact of any data security breaches, cyberattacks, employee or other internal misconduct, malware, phishing or ransomware, physical security breaches, natural disasters, or similar disruptions; (xviii) impact of key vendors or merchants failing to comply with legal or regulatory requirements or to provide various services that are important to our operations; (xix) impact of exchange rate fluctuations in the international markets in which we operate; (xx) our ability to protect our intellectual property rights and third party allegations of the misappropriation of intellectual property rights; (xxi) our ability to retain our existing workforce and recruit additional staff; (xxii) impact of the costs of complying with various laws and regulations applicable to the BNPL industry in the United States and Canada; (xxiii) our ability to comply with applicable state lending licenses and other state lending laws and regulations; (xxiv) the impact of litigation, regulatory investigations and actions, and compliance issues on our business; (xxv) our ability to achieve our public benefit purpose as a Delaware public benefit corporation; (xxvi) significant and sudden declines or volatility in the trading price of our common stock and market capitalization; and (xxvii) other factors identified in the “Risk Factors” section of our most recent Annual Report on Form 10-K (the “Annual Report”) and the Company’s subsequent filings filed with the SEC available at www.sec.gov. Except as required by law, we undertake no obligation to update or revise any forward-looking statements contained in this Presentation or oral forward-looking statements made in connection with this Presentation to reflect events or circumstances after the date of this Presentation. This Presentation has been prepared in good faith, but no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness, reliability or adequacy of any statements, estimates, opinions or other information, or the reasonableness of any assumption or other statement, contained in the Presentation (any of which may change without notice). All financial figures are expressed in U.S. dollars unless otherwise stated. In addition to financial measures presented in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), this Presentation includes certain financial information, including Total Transaction Volume (“TTV”) and Active Subscribers, which has been provided as supplemental measures of operating performance that are key metrics used by management to assess Sezzle’s growth and operating performance. For example, TTV is an operating metric in assessing the total value of transactions processed through the Sezzle Platform, including Gross Merchandise Volume (GMV), cash advances (SezzleCash) and peer-to-peer (Sezzle Send) payments, which is an indicator of the success of our merchants and the strength of the Sezzle Platform, and Active Subscribers is a metric that captures unique consumers with an active subscription for either Sezzle Premium or Sezzle Anywhere as of the end of the period. Sezzle also uses these operating metrics in order to evaluate the effectiveness of our business strategies, to make budgeting decisions, and to compare our performance against that of other peer companies using similar measures. TTV and Active Subscribers do not represent revenue earned by Sezzle, are not components of Sezzle’s income or included within Sezzle’s financial results prepared in accordance with GAAP. The TTV and Active Subscribers financial measures used by Sezzle may differ from the non-U.S. GAAP financial measures used by other companies. No Offer or Solicitation This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or pursuant to another available exemption. WebBank Pay Later, SezzleCash, and Sezzle Send loans are originated by Sezzle and third-party lenders, including WebBank.
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| 3Q26 Presentation 3 3Q26 Snapshot Updated Guidance 6.5x 3Q26 Results Total Revenue Less Transaction Related Costs3 as a % of Total Revenue 64.7% Last Twelve Months (LTM) Return on Equity4 84.3% 42.6%Total Revenue Growth (YoY) $47.8M 28.7%Net Income Margin Net Income 34.9%Total Transaction Volume (TTV)1 Growth (YoY) $70.2MAdjusted EBITDA2 Adjusted EBITDA Margin 42.1% 955kActive Subscribers7 Average Quarterly Transaction Frequency6 3Q25 Average Quarterly Transaction Frequency 7.8 x 3Q26 Consumer Engagement Highlights FY2026 November FY2026 August Total Revenue Growth ~42.5%35% Adjusted Net Income5 $190.0M$185.0M Adjusted Net Income Per Diluted Share5 $5.45–$5.50$5.25 FY2027 Preliminary – – $7. 20 YoY Growth 68.1% YoY Growth YoY Growth 44.1% 48.8% 46.2% 52.7%–54.1% 30.9%–32.1% 1 Total Transaction Volume (TTV) is the total value of transactions processed through Sezzle, including Gross Merchandise Volume (GMV), cash advances (SezzleCash) and peer-to-peer (Sezzle Send) payments. Beginning in 3Q26, TTV replaces GMV. Prior periods have been recast to reflect the expanded scope of TTV and adjustments to purchase-volume measurement. 2 Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Net Income to Adjusted EBITDA, see Appendix II. 3 Total Revenue Less Transaction Related Costs is a non-GAAP financial measure. For a reconciliation of Operating Income to Total Revenue Less Transaction Related Costs, see Appendix I. 4 Return on Equity is calculated as Net Income over the last twelve months divided by average shareholders’ equity during the same period. 5 Adjusted Net Income is a non-GAAP financial measure. For a reconciliation of Net Income to Adjusted Net Income, see Appendix III. Adjusted prior periods to include the income tax effect of non-GAAP adjustments. FY2026 and FY2027 Non-GAAP adjusted financial guidance reflects add-backs for estimated expenses associated with Corporate Strategic Projects and other income and expense. Previously issued Adjusted Net Income and Adjusted Net Income per Diluted Share guidance is presented as originally issued and has not been recast to reflect the income tax effects of corporate strategic project costs and other income and expense. Accordingly, prior guidance and related growth rates are not directly comparable with current guidance. Current FY2026 and preliminary FY2027 guidance reflect these income tax effects. 6 Transactions include purchases, SezzleCash advances and Sezzle Send payments. 7 Active Subscribers are unique consumers who had an active subscription for either Sezzle Premium or Sezzle Anywhere as of September 30, 2026. Active Subscribers are rounded to the nearest thousand.
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| 3Q26 Presentation 4 568,000 670,000 714,000 854,000 955,000 $8.8 $9.3 $11.2 $19.4 $15.9 3Q25 4Q25 1Q26 2Q26 3Q26 Active Subscribers Marketing Spend ($ in millions) Growing Subscription and Diversifying Engagement 1 Transaction count reflects the average number of transactions per quarter. 2 Frequency represents the 90-day transaction frequency at the 90th percentile of active Anywhere Subscribers. 3 Orders placed during 3Q26. 4 Marketing Spend corresponds to the Marketing, Advertising, and Tradeshows line item presented in the Company’s Consolidated Statements of Operations and Comprehensive Income (unaudited). Active Subscribers 4 Expanding Value for Subscribers NEW Subscription Saver Helps Anywhere Subscribers see, manage and cancel recurring charges in one place ✓ Access to SezzleCash ✓ Card-Linked Offers ✓ Sezzle Mobile ✓ More Points & Rewards ✓ Access to Beta Products ✓ No Service Fees for Sezzle Send More Transactions from Subscribers vs. Non-Subscribers on Average 1 9 YoY Growth in Active Subscribers for 3Q26 6 8 .1% In-store Orders as % of Total Anywhere Orders 3 in 3Q26 39% Top 10% Anywhere Subscribers 90-days Frequency 2 ≥31X Approaching 1 Million Active Subscribers
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| 3Q26 Presentation 5 The Innovation Continues... Pay-in-51 Expanded short- term installment optionality Canada Virtual Card Enhanced Long- Term Lending First closed-end BNPL virtual card in Canada Long-term lending2 across the BNPL product suite Sezzle Mobile On AT&T’s network, offering a competitively priced unlimited wireless plan starting at $29.993 SezzleCash4 Cash advance for eligible Sezzle Anywhere Subscribers through Pay-in-4 or Pay-in- 5 with no down payment required Sezzle Send4 Instant money transfers through Pay-in-Full or Pay- in-5: a down payment at send, then 4 biweekly installments Subscription Saver Helps Anywhere Subscribers see, manage and cancel recurring charges in one place 1Q26 2Q26 3Q26 1 Pay later loans are originated by WebBank or Sezzle. 2 Length of loan and APR vary by user and merchant offering and are determined by Sezzle’s long-term lending partner. Loan origination is subject to applicable licensing requirements. 3 $29.99 starting price applies to Sezzle Anywhere members; rates may vary. 4 Eligible SezzleCash and Sezzle Send loans are originated by WebBank. Canada Anywhere Monthly subscription giving shoppers an open- loop virtual card to pay with Sezzle anywhere Visa is accepted 4Q26
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| 3Q26 Presentation 6 SezzleCash Users Come for Cash and Stay to Shop >15% of New Anywhere Subscribers in 3Q26 Made Their First Transaction with SezzleCash 1 >60% of 3Q26 SezzleCash Users Took More Than One Advance During the Quarter >60% of New Anywhere Subscribers Who Started with SezzleCash Also Used Sezzle at Checkout 2 Common Use Cases4 Bills, Rent & Utilities Unexpected Expenses Payments That Don’t Accept Card Note: Eligible SezzleCash loans are originated by WebBank. 1 Among SezzleCash-eligible new Anywhere Subscribers. 2 Among new Anywhere Subscribers in 3Q26 whose first transaction was a SezzleCash advance on or before September 30, 2026, share who later used Sezzle at checkout (excl. long-term lending) through October 21, 2026. 3 Among users who took a SezzleCash advance in 3Q26, share who also used Sezzle at checkout during the quarter (excl. long-term lending). 4 Use cases reflect themes from Sezzle consumer surveys and internal analysis. Subscriber Acquisition Product Cross-Sell Engagement & Retention Sign Up Choose Amount Pick a Plan Receive Funds1 2 3 4 >90% of 3Q26 SezzleCash Users Also Used Sezzle at Checkout During the Quarter3
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| 3Q26 Presentation 7 Bringing Sezzle’s Flexibility to Everyday Transfers Beta Launched in 3Q26 Broader rollout to Sezzle users in October Instant Payout Receiver gets full amount immediately, even if sender uses Pay-in-5 Every send to a non-Sezzle user is a new- user acquisition opportunity SENDER Sign Up1 Enter Amount2 Choose How to Pay3 Money Sent4 NEW SEZZLE USER RECEIVING MONEY Verify Phone Number1 Sign Up2 Open Balance13 Get Paid4 Note: Eligible Sezzle Send loans are originated by WebBank. 1 Sezzle Balance funds are held at WebBank, Member FDIC, and are eligible for FDIC deposit insurance up to applicable limits, subject to applicable requirements. Sezzle is not an FDIC-insured institution.
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| 3Q26 Presentation 8 A Level Up for Sezzle Up The first BNPL platform in the U.S. & Canada to offer credit reporting optionality through short-term installments Coming Soon In-App Credit Score 1 Intro-to-enrollment conversion is the percentage of users who viewed the Sezzle Up introduction and completed enrollment. The reported increase compares the 30-day periods before and after the September enhancements. 2 Weekly enrollments reflect average enrollments per week during the 30-day periods before and after the September enhancements. Credit Alerts Credit Monitoring +18% Increase in intro-to- enrollment conversion1 ~2x Increase in average weekly enrollments2 Changes Expanded Eligibility Fewer Steps to Enroll Refreshed Design Early Results
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| 3Q26 Presentation 9 A Two-Way Exchange: Sharing Knowledge, Gaining Perspective Money IQ1 2M+ Modules Completed 68K+ Hours of Financial Learning 338K+ Users Completed Modules MONEY IQ USER SURVEY 2 91% said Money IQ was helpful in making financial decisions 90% feel more confident managing their finances since using Money IQ Gen Z Advisory Council A qualitative feedback platform that lets Gen Z users tell Sezzle directly what they like, what they want changed, and what they’d like to see in the future FEEDBACK INCORPORATED INTO Money IQ Rewards & Giveaways Sezzle Send Sezzle Up 1 Money IQ usage figures as reported in Sezzle’s October 6, 2026 press release. 2 Reflects respondents to Sezzle’s March 2026 Money IQ user survey.
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| 3Q26 Presentation 10 From AI Adoption to Everyday Impact Enhancing the Consumer Experience Driving Efficiency Across Sezzle Teams AI Support Agent1 40% Of all support contacts are handled by AI without human involvement 68% Of conversations with the AI agent end without a human handoff 76% Of written contacts now start with the AI agent 1.4x As likely as human-handled tickets to get a top CSAT score 2 Engineering Team AI Coding Assistants >90% Of engineering merges in 3Q26 carried AI attribution Developer Productivity +43% More code changes merged per engineer YoY AI Platform AI Gateway 30+ Company systems reached through one permissioned, audited, internally built gateway AI Cost Efficiency3 −27% AI cost per unit of work QoQ 1 Support figures reflect 3Q26. Contacts include consumer support tickets and AI conversations that did not generate a ticket. 2 Based on respondents to Sezzle’s 3Q26 post-contact survey. A top CSAT score is 8–10 on a 10-point scale. 3 Cost efficiency compares 3Q26 with 2Q26. AI cost includes seats and usage across providers. AI workload reflects tokens processed, excluding cache-read tokens where providers report them separately; some included costs have no reported token volume.
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| 3Q26 Presentation 11 YoY Engagement Metrics Average Quarterly Revenue Per Monetized User 3 + 28.1 % YoY Active2 Consumers +6.7% YoY Number of Transactions4 +30. 1% YoY Active Subscribers1 + 68.1 % YoY Average Quarterly Transaction Frequency4 Repeat Usage as % of Total Transactions (Cumulative) +80 Bps YoY 955,000 568,000 3Q26 3Q25 $41 $32 3Q26 3Q25 7.8x 6.5x 3Q26 3Q25 97.4% 96.6% 3Q26 3Q25 12,404,000 9,533,000 3Q26 3Q25 3,169,000 2,971,000 3Q26 3Q25 +1.3x YoY 1 Active Subscribers are unique consumers who had an active subscription for either Sezzle Premium or Sezzle Anywhere as of the applicable quarter-end. Active Subscribers are rounded to the nearest thousand. 2 Active is defined as having had at least one transaction through the Sezzle platform in the last twelve months, not subject to a minimum required number of transactions criteria (consumers rounded to nearest thousand). 3 Average Quarterly Revenue Per Monetized User is calculated as total revenue divided by the total number of Monetized Users during that quarter. Monetized Users are defined as unique App Users and Transacting Users within the applicable period. 4 Transactions include purchases, SezzleCash advances and Sezzle Send payments. Number of Transactions are rounded to the nearest thousand.
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| 3Q26 Presentation 12 3Q25 3Q26 YoY Change Total Revenue $116.8M $166.5M 42.6% Net Income $26.7M $47.8M 79.3% Adjusted Net Income1 $25.1M $47.7M 89.9% Adjusted EBITDA Margin2 33.9% 42.1% +8.2 Pts Total Revenue Less Transaction Related Costs3 as a % of Total Revenue 54.2% 64.7% +10.5 Pts Non-Transaction Related Operating Expenses4 as a % of Total Revenue 27.1% 27.8% +0.7 Pts YoY Progression Overview 1 Adjusted Net Income is a non-GAAP financial measure. For a reconciliation of Net Income to non-GAAP Adjusted Net Income, see Appendix III. Adjusted prior periods to include the income tax effect of non-GAAP adjustments. 2 Adjusted EBITDA Margin is a non-GAAP financial measure equal to non-GAAP Adjusted EBITDA divided by Total Revenue. For a reconciliation of Net Income to non-GAAP Adjusted EBITDA, see Appendix II. 3 Total Revenue Less Transaction Related Costs is a non-GAAP financial measure. For a reconciliation of Operating Income to Total Revenue Less Transaction Related Costs, see Appendix I. 4 Non-Transaction Related Operating Expenses is a non-GAAP financial measure and is equal to Personnel, Third-Party Technology and Data, Marketing, Advertising, and Tradeshows, and General and Administrative Operating Expenses. See Appendix I for reconciliation of Operating Expenses to Non-Transaction Related Operating Expenses and respective definitions.
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| 3Q26 Presentation 13 $1,036.7 $1,148.0 $1,103.5 $1,253.0 $1,398.2 3Q25 4Q25 1Q26 2Q26 3Q26 TTV ($ in millions) +34.9% YoY Total Transaction Volume (TTV) & Total Revenue Total Transaction Volume (TTV)1 Total Revenue $116.8 $129.9 $135.5 $149.7 $166.5 11.3% 11.3% 12.3% 11.9% 11.9% 3Q25 4Q25 1Q26 2Q26 3Q26 Total Revenue ($ in millions) % of TTV 1 Total Transaction Volume (TTV) is the total value of transactions processed through Sezzle, including Gross Merchandise Volume (GMV), cash advances (SezzleCash) and peer-to-peer (Sezzle Send) payments. Beginning in 3Q26, TTV replaces GMV. Prior periods have been recast to reflect the expanded scope of TTV and adjustments to purchase-volume measurement.
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| 3Q26 Presentation 14 Transaction Related Costs 1 As a % of Total Revenue As a % of TTV $53.5 $46.3 $35.2 $54.6 $58.8 45.8% 35.7% 26.0% 36.5% 35.3% 3Q25 4Q25 1Q26 2Q26 3Q26 Transaction Related Costs ($ in millions) % of Total Revenue $53.5 $46.3 $35.2 $54.6 $58.8 5.2% 4.0% 3.2% 4.4% 4.2% 3Q25 4Q25 1Q26 2Q26 3Q26 Transaction Related Costs ($ in millions) % of TTV 1 Transaction Related Costs is a non-GAAP financial measure that represents the combined total of Transaction Expense, Provision for Credit Losses, and Net Interest Expense. For a reconciliation of Operating Expenses to Transaction Related Costs, see Appendix II.
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| 3Q26 Presentation 15 Provision for Credit Losses Transaction Related Costs 1 Transaction Expense2 Net Interest Expense $32.2 $23.7 $13.7 $30.6 $37.7 3.1% 2.1% 1.2% 2.4% 2.7% 3Q25 4Q25 1Q26 2Q26 3Q26 Provision for Credit Losses ($ in millions) % of TTV $17.4 $19.0 $18.5 $20.7 $18.3 1.7% 1.7% 1.7% 1.7% 1.3% 3Q25 4Q25 1Q26 2Q26 3Q26 Transaction Expense ($ in millions) % of TTV $3.9 $3.7 $3.0 $3.2 $2.8 0.4% 0.3% 0.3% 0.3% 0.2% 3Q25 4Q25 1Q26 2Q26 3Q26 Net Interest Expense ($ in millions) % of TTV FY2026 Guidance of ~2.5% of TTV Previously 2.5%–3.0% of TTV3 1 Transaction Related Costs is a non-GAAP financial measure that represents the combined total of Transaction Expense, Provision for Credit Losses, and Net Interest Expense. For a reconciliation of Operating Expenses to Transaction Related Costs, see Appendix II. 2 Transaction expense includes benefits of $3.7 million for 3Q26 related to incentives earned through our payment network. 3 Previously expressed as a percentage of GMV.
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| 3Q26 Presentation 16 As a % of Total Revenue As a % of TTV $63.3 $83.5 $100.3 $95.1 $107.7 6.1% 7.3% 9.1% 7.6% 7.7% 3Q25 4Q25 1Q26 2Q26 3Q26 Total Revenue Less Transaction Related Costs ($ in millions) % of TTV $63.3 $83.5 $100.3 $95.1 $107.7 54.2% 64.3% 74.0% 63.5% 64.7% 3Q25 4Q25 1Q26 2Q26 3Q26 Total Revenue Less Transaction Related Costs ($ in millions) % of Total Revenue Total Revenue Less Transaction Related Costs 1 1 Total Revenue Less Transaction Related Costs is a non-GAAP financial measure. For a reconciliation of Operating Income to Total Revenue Less Transaction Related Costs, see Appendix I.
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| 3Q26 Presentation 17 $31.6 $32.0 $34.3 $43.4 $46.2 27.1% 24.6% 25.3% 29.0% 27.8% 3Q25 4Q25 1Q26 2Q26 3Q26 Non-Transaction Related Operating Expenses ($ in millions) % of Total Revenue Non-Transaction Related Operating Expenses 1 % of Total Revenue Corporate Strategic Project Costs Included in Non-Transaction Related Operating Expenses: $1.3M $1.3M $0.3M $0.4M $2.4M Corporate Strategic Project Costs ($ in millions)2 Banking Charter Application (Filed in October) Antitrust Litigation 1 Non-Transaction Related Operating Expenses is a non-GAAP financial measure that represents the combined total of Personnel, Third-Party Technology and Data, Marketing, Advertising, and Tradeshows, and General and Administrative Operating Expenses. For a reconciliation of Operating Expenses to Non-Transaction Related Operating Expenses, see Appendix I. 2 Capital markets exploration was completed in 4Q25; related costs impacted Non-Transaction Related Operating Expenses through 4Q25 only and therefore do not impact 1Q26–3Q26 results.
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| 3Q26 Presentation 18 1 Adjusted Net Income is a non-GAAP financial measure. For a reconciliation of Net Income to non-GAAP Adjusted Net Income, see Appendix III. Adjusted prior periods to include the income tax effect of non-GAAP adjustments. 2 Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Net Income to Adjusted EBITDA, see Appendix II. Net Income, Adjusted Net Income, & Adjusted EBITDA Net Income Adjusted Net Income1 $26.7 $42.7 $51.3 $40.8 $47.8 22.8% 32.9% 37.9% 27.2% 28.7% 3Q25 4Q25 1Q26 2Q26 3Q26 Net Income ($ in millions) % of Total Revenue $25.1 $42.5 $49.9 $39.2 $47.7 21.5% 32.7% 36.8% 26.2% 28.6% 3Q25 4Q25 1Q26 2Q26 3Q26 Adjusted Net Income ($ in millions) % of Total Revenue $39.6 $58.3 $71.1 $58.0 $70.2 33.9% 44.9% 52.5% 38.8% 42.1% 3Q25 4Q25 1Q26 2Q26 3Q26 Adjusted EBITDA ($ in millions) % of Total Revenue Non-GAAP Adjusted EBITDA2
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| 3Q26 Presentation 19 YTD Cash Flow ($ in thousands) Sep 30, 2025 Sep 30, 2026 Key Assets Cash and cash equivalents1 $104,147 $70,142 Restricted cash2 $30,509 $37,722 Total cash $134,656 $107,864 Notes receivable, net $184,131 $315,918 Key Liabilities Merchant accounts payable $57,829 $56,277 Drawn on line of credit3 $118,000 $104,000 Total Stockholders’ Equity1 $155,270 $277,679 Select Balance Sheet & Cash Flow Metrics 1 On March 10, 2025, the Board approved a $50.0 million repurchase program, which was completed on December 4, 2025. On December 12, 2025, the Board authorized an additional $100.0 million repurchase program with no fixed expiration, subject to market conditions and other factors. 2 As of September 30, 2026, restricted cash includes cash collateral for the Company's retention arrangement with WebBank related to SezzleCash and Sezzle Send loans. 3 The availability on the line of credit for quarters ending September 30, 2025 and September 30, 2026 was $32.0M and $169.3M, respectively. 4 Effective December 31, 2025, the Company restated notes receivable-related cash flows from operating to investing activities in the consolidated statement of cash flows. September 30, 2025 amounts have been restated to conform to the current presentation, see Appendix IV. This change did not affect net change in cash for any period presented. 5 Excludes the effect of exchange rate changes on cash of $809 thousand and ($356) thousand for the nine months ended September 30, 2025 and September 30, 2026, respectively. Balance Sheet ($ in thousands) Cash provided from operations4 $139,274 $227,930 Cash used for investing activities ($85,759) ($145,591) Cash used for financing activities ($17,978) ($76,720) Net Increase in Cash, Cash Equivalents, and Restricted Cash5 $35,537 $5,619
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| 3Q26 Presentation 20 FY2026 Guidance November 2025 February 2026 May 2026 August 2026 November 2026 (Updated Guidance) Total Revenue Growth Not Provided 25%–30% 30%–35% 35% ~42.5% Adjusted Net Income1 Not Provided $170.0M $180.0M $185.0M $190.0M Adjusted Net Income Per Diluted Share1 $4.35 $4.70 $5.10 $5.25 $5.45–$5.50 Outlook 1 Adjusted Net Income and Adjusted Net Income per Diluted Share are non-GAAP financial measures. For a reconciliation of Net Income to Adjusted Net Income, see Appendix III. FY2026 and FY2027 Non-GAAP adjusted financial guidance reflects add-backs for estimated expenses associated with Corporate Strategic Projects and other income and expense. Previously issued Adjusted Net Income and Adjusted Net Income per Diluted Share guidance is presented as originally issued and has not been recast to reflect the income tax effects of corporate strategic project costs and other income and expense. Accordingly, prior guidance and related growth rates are not directly comparable with current guidance. Current FY2026 and preliminary FY2027 guidance reflect these income tax effects. Preliminary FY2027 Guidance Adjusted Net Income Per Diluted Share 1 $7.20
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| 3Q26 Presentation 21 Reconciliation of Operating Income to Total Revenue Less Transaction Related Costs Reconciliation of Operating Expenses to Non-Transaction Related Operating Expenses Appendix I: Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands) September 30, 2026 J une 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Operating income 64,251$ 54,961$ 69,036$ 55,247$ 35,561$ Personnel 16,804 14,725 14,667 13,776 14,320 Third-party technology and data 6,496 4,907 4,415 3,934 3,705 Marketing, advertising, and tradeshows 15,893 19,396 11,246 9,298 8,775 General and administrative 7,051 4,348 3,980 4,974 4,823 Net interest expense (2,781) (3,250) (3,015) (3,683) (3,923) Total revenue less transaction related costs 107,714$ 95,087$ 100,329$ 83,546$ 63,261$ For the three months ended ($ in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Operating expenses 102,252$ 94,722$ 66,503$ 74,622$ 81,235$ Transaction expense (18,342) (20,738) (18,520) (18,966) (17,435) Provision for credit losses (37,666) (30,608) (13,675) (23,674) (32,177) Non-transaction related operating expenses 46,244$ 43,376$ 34,308$ 31,982$ 31,623$ For the three months ended Note: Totals may not sum due to rounding.
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| 3Q26 Presentation 22 Reconciliation of Net Income to Adjusted EBITDA Reconciliation of Operating Expenses to Transaction Related Costs Appendix II: Reconciliation of GAAP to Non-GAAP Financial Measures Note: Totals may not sum due to rounding. ($ in thousands) September 30, 2026 J une 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Operating expenses 102,252$ 94,722$ 66,503$ 74,622$ 81,235$ Personnel (16,804) (14,725) (14,667) (13,776) (14,320) Third-party technology and data (6,496) (4,907) (4,415) (3,934) (3,705) Marketing, advertising, and tradeshows (15,893) (19,396) (11,246) (9,298) (8,775) General and administrative (7,051) (4,348) (3,980) (4,974) (4,823) Net interest expense 2,781 3,250 3,015 3,683 3,923 Transaction related costs 58,789$ 54,596$ 35,210$ 46,323$ 53,535$ For the three months ended ($ in thousands) September 30, 2026 J une 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Net income 47,825$ 40,765$ 51,303$ 42,691$ 26,671$ Depreciation and amortization 559 502 436 389 369 Income tax expense 13,591 10,947 14,686 8,890 4,961 Equity and incentive-based compensation 2,921 2,113 1,321 1,340 2,409 Other (income) expense, net 54 (1) 32 (17) 6 Corporate strategic projects 2,446 443 340 1,331 1,284 Net interest expense 2,781 3,250 3,015 3,683 3,923 Adjusted EBITDA 70,177$ 58,019$ 71,133$ 58,307$ 39,623$ For the three months ended
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| 3Q26 Presentation 23 Appendix III: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Net Income to Adjusted Net Income ($ in thousands) September 30, 2026 J une 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Net income 47,825$ 40,765$ 51,303$ 42,691$ 26,671$ Discrete tax benefit (1,999) (1,928) (1,682) (1,190) (2,520) Corporate strategic projects 2,446 443 340 1,331 1,284 Other (income) expense, net 54 (1) 32 (17) 6 Income tax effect of non-GAAP adjustments (1) (624) (110) (93) (328) (322) Adjusted net income 47,702$ 39,169$ 49,900$ 42,487$ 25,119$ For the three months ended Note: Totals may not sum due to rounding. (1) Adjusted prior periods to include the income tax effect of non-GAAP adjustments at an effective tax rate of 24.9%.
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| 3Q26 Presentation 24 Appendix IV: Restated Consolidated Statements of Cash Flows ($ in thousands) As previously reported Restatement impact As restated Discount on notes receivable -$ ( 1,516)$ (1,516)$ Notes receivable (85,172) 85,172 - Net cash provided from operating activities 55,618$ 83,656$ 139,274$ Purchases and originations of notes receivable, net of proceeds from repayments -$ (83,656)$ (83,656)$ Net cash used for investing activities (2,103)$ (83,656)$ (85,759)$ For the nine months ended September 30, 2025 Note: Totals may not sum due to rounding.
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| 3Q26 Presentation 25 Non-GAAP Financial Measures To supplement our operating results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), we present the following non-GAAP financial measures: Total revenue less transaction related costs; transaction related costs; non-transaction related operating expenses; adjusted net income; adjusted net income margin; adjusted net income per diluted share; adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”); and Adjusted EBITDA margin. Definitions of these non-GAAP financial measures and summaries of the reasons why management believes that the presentation of these non-GAAP financial measures provides useful information to the Company and investors are as follows: • Total revenue less transaction related costs is defined as GAAP total revenue less transaction related costs. Transaction relat ed costs is the sum of GAAP transaction expense, provision for credit losses, and net interest expense, as detailed in the reconciliation table of GAAP operating expenses to non-GAAP transaction related costs. We believe that total revenue less transaction related costs is a useful financial measure to both management and investors for evaluating the economic value of transactions processed on the Sezzle Platform. • Non-t ransaction related operating expenses is defined as the sum of GAAP personnel; third-party technology and data; marketing, advertising, and tradeshows; and general and administrative operating expenses. We believe that non-transaction related operating expenses is a useful financial measure to both management and investors for evaluating our management of operating expenses not directly attributable to transactions processed on the Sezzle Platform. • Adjusted EBITDA is defined as GAAP net income, adjusted for certain charges including depreciation, amortization, equity and ince ntive-based compensation, corporate strategic project costs, and other income and expense, as well as net interest expense and income tax expense as detailed in the reconciliation table of GAAP net income to adjusted EBITDA. We believe that this financial measure is a useful measure for period-to-period comparison of our business by removing the effect of certain non-cash and non-recurring charges, as well as funding costs, that may not directly correlate to the underlying performance of our business. • Adjusted EBITDA margin is defined as Adjusted EBITDA divided by GAAP total revenue. We believe that this financial measure is a us eful measure for period-to-period comparison of our business’ unit economics by removing the effect of certain non-cash and non-recurring charges, as well as funding costs, that may not directly correlate to the underlying performance of our business. • Adjusted net income is defined as GAAP net income, adjusted for certain items including discrete tax items, corporate strategic project costs, and other income and expense, as detailed in the reconciliation table of GAAP net income to adjusted net income. The adjustments for corporate strategic project costs and other income and expense include their related income tax effects. We believe that this financial measure is useful for period-to-period comparison of our business by removing the effect of certain charges that, in management's view, do not correlate to the underlying performance of our business during a given period. • Adjusted net income margin is defined as Adjusted net income divided by GAAP total revenue. We believe that this financial mea sure is a useful measure for period-to-period comparison of our business by removing the effect of certain charges that, in management's view, do not correlate to the underlying performance of our business during a given period. • Adjusted net income per diluted share is defined as non-G AAP adjusted net income divided by GAAP weighted-average diluted shares outstanding. We believe that this financial measure is a useful measure for period-to-period comparison of shareholder return by removing the effect of certain charges that, in management's view, do not correlate to the underlying performance of our business during a given period.
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| 3Q26 Presentation 26 Non-GAAP Financial Measures (Cont.) Additionally, we have included these non-GAAP measures because they are key measures used by our management to evaluate our operating performance, guide future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of resources. Therefore, we believe these measures provide useful information to investors and other users of this presentation to understand and evaluate our operating results in the same manner as our management and board of directors. However, non-GAAP financial measures have limitations, should be considered supplemental in nature, and are not meant as a substitute for the related financial information prepared in accordance with U.S. GAAP. These limitations include the following: • Total revenue less transaction related costs is not intended to be a measure of operating profit or cash flow profitability as it excludes key operating expenses such as personnel, general and administrative, and third-party technology and data, which have been, and will continue to be for the foreseeable future, significant recurring GAAP expenses. • Transaction related costs exclude significant expenses such as personnel, general and administrative, and third-pa rty technology and data, which have been, and will continue to be for the foreseeable future, significant recurring GAAP expenses. • Non-t ransaction related operating expenses exclude significant expenses, including transaction expense and provision for credit losses, which have been, and will continue to be for the foreseeable future, significant recurring GAAP expenses. • Adjusted EBITDA and adjusted EBITDA margin exclude certain charges such as depreciation, amortization, and equity and incentive-ba sed compensation, which have been, and will continue to be for the foreseeable future, recurring GAAP expenses. They also exclude corporate strategic project costs and other income and expense, which have been, and may be in the future, recurring GAAP expenses. Further, these non-GAAP financial measures exclude certain significant cash inflows and outflows, which have a significant impact on our working capital and cash. • Adjusted EBITDA and adjusted EBITDA margin exclude net interest expense, which has a significant impact on our GAAP net income, working capital, and cash. • Adjusted net income, adjusted net income margin, and adjusted net income per diluted share exclude certain charges such as corporate strategic project costs, other income and expense, and discrete t ax items which have been, and may be in the future, recurring GAAP expenses. Further, these non-GAAP financial measures exclude certain significant cash inflows and outflows, which have a significant impact on our working capital and cash. • Long-li ved assets being depreciated or amortized may need to be replaced in the future, and these non -GAAP financial measures do not reflect the capital expenditures needed for such replacements, or for any new capital expenditures or commitments. • These non-G AAP financial measures do not reflect income taxes that may represent a reduction in cash available to us. • Non-G AAP measures do not reflect changes in, or cash requirements for, our working capital needs. • Other companies, including companies in our industry, may calculate the non-G AAP financial measures differently or not at all, which reduces their usefulness as comparative measures. Because of these limitations, you should not consider these non-GAAP financial measures in isolation or as substitutes for analysis of our financial results as reported under GAAP, and these non-GAAP financial measures should be considered alongside other financial performance measures, including net income and other financial results presented in accordance with GAAP. We encourage you to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.
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