Financial Data and Key Metrics Changes - Third quarter revenue was $205 million, a decline of 33% year-over-year, but adjusted EBITDA rose 112% to a record $136 million, and adjusted EPS grew 223% to $2.97 [10][43] - The net revenue margin for the third quarter was 89%, driven by strong credit quality and low net charge-off rates [28][29] - Net income from continuing operations was $94 million or $3.09 per diluted share, compared to $29 million or $0.83 per diluted share in the same quarter last year [43] Business Line Data and Key Metrics Changes - Third quarter originations decreased 77% year-over-year but increased 56% sequentially, with new customer originations rising to approximately 11% of total originations [15] - The loan portfolio contracted 36% year-over-year but only 14% from the second quarter, with installment products representing 72% of the portfolio [16] - OnDeck's total originations for the quarter were $148 million, up from $66 million in the second quarter [47] Market Data and Key Metrics Changes - The company observed strong credit performance from new loans, with net charge-off rates at 4.7%, significantly improved from 15.9% in the previous quarter [29] - The percentage of total portfolio receivables past due 30 days or more declined to 3.7% from 4.5% in the previous quarter [30] Company Strategy and Development Direction - The acquisition of OnDeck is expected to enhance product differentiation and increase presence in small business lending, with a focus on providing capital to small businesses post-pandemic [17][18] - The company plans to finalize its strategy on the optimal number of products and brands to serve SMB borrowers, utilizing market tests to gauge customer needs [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of consumers and the economy, anticipating growth in originations despite ongoing COVID impacts [13][14] - The company noted that customer behavior has shifted, with subprime borrowers returning faster than near-prime borrowers [64] Other Important Information - The company ended the third quarter with $552 million in cash and marketable securities, including $490 million in unrestricted cash [44] - Total operating expenses for the third quarter were $56 million, down from $82 million in the same quarter last year [35] Q&A Session Summary Question: What is the consolidated loss rate embedded in the fair value calculation? - Management indicated that there is no specific charge-off rate provided, but delinquencies are a good indicator for future outlook [50][51] Question: How is the re-acceleration of originations for OnDeck and small business lending? - Management noted that re-acceleration is broad-based across states and marketing channels, with caution in industries heavily impacted by COVID [53][54] Question: What is the expected share count post-transaction? - The expected share count is just under 36 million shares following the transaction [57] Question: What is the outlook for revenue in Q4? - Management expects revenue to be flat to slightly lower than Q3 levels, depending on the timing and level of originations [26][60] Question: How much of the current portfolio has been underwritten post-COVID? - Approximately 25% to 30% of the portfolio has been underwritten since the onset of COVID [67]

Financial Data and Key Metrics Changes - Total second quarter revenue was $253 million, a decline of 2.5% year-over-year, while adjusted EBITDA rose 45% to $94 million and adjusted EPS increased 73% to $1.68 [17][29][40] - The loan portfolio contracted by 15% year-over-year and 29% sequentially, ending the quarter at $823 million [29][40] - The net revenue margin for the second quarter improved to 52%, driven by stabilized credit quality [30][35] Business Line Data and Key Metrics Changes - Second quarter originations declined 83% year-over-year, with new customer originations dropping to 7.4% of total, compared to an average of 37.5% over the prior four quarters [18][19] - Installment products represented 72% of the portfolio, while line of credit products accounted for 28% [19] - The U.S. near-prime product made up 59% of the portfolio, with small business representing 15% [19] Market Data and Key Metrics Changes - The percentage of total portfolio receivables past due 30 days or more declined to 4.5% from 7.5% at the end of the first quarter [33] - Customer payment rates have returned to pre-COVID levels, with 84% of CNU customers remaining in good standing after adjustments [17][36] Company Strategy and Development Direction - The company announced its intent to acquire OnDeck Capital, aiming to create a leading online financial services company with increased scale and diversified revenues [3][8] - The acquisition is expected to achieve $15 million in annual cost synergies by 2022 and be accretive to EPS in the first year post-closing [11][27] - The company plans to leverage its strong liquidity and operating capacity to expand lending as economic conditions stabilize [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the fundamentals of the business despite COVID-19 uncertainties, anticipating strong demand for loans as the economy recovers [23][24] - The company is prepared to reaccelerate originations, having built new tools and models to address the unique challenges of the current recession [25][42] - Management noted that the small business lending environment is less competitive and carries less regulatory risk compared to consumer lending [65] Other Important Information - The company ended the second quarter with $379 million in cash and marketable securities, providing a strong liquidity position [28] - Operating expenses were reduced to $42 million, or 17% of revenue, compared to $74 million, or 29% of revenue, in the same quarter of the previous year [37][38] Q&A Session Summary Question: Thoughts on the OnDeck acquisition and potential changes - Management highlighted the complementary nature of the businesses and the potential for increased profitability through scale and product offerings [45] Question: Impact of potential second stimulus on business - Management indicated that while a second stimulus could help, it is not essential for success, as credit behavior improved even after the first stimulus ended [46] Question: Profitability of the OnDeck acquisition in the first year - Management confirmed that the acquisition is expected to be accretive to adjusted EPS in the first year post-closing [48] Question: Characteristics of new customers in the current environment - New customer originations have significantly decreased, with a focus on existing customers, but management expects this to change as certainty increases [73] Question: Correlation between loan demand and geographic openings - Management acknowledged a correlation between loan demand and the stability of state economies, with demand increasing in more stable regions [74]

Acquisition Overview - Enova is acquiring OnDeck through a fixed exchange ratio of 0092 shares and $012 in cash for each OnDeck share[9] - The deal values each OnDeck share at $138, based on Enova's closing share price of $1370 on July 27, 2020, resulting in a total transaction value of $90 million[9] - Post-acquisition, Enova shareholders will own approximately 833% and OnDeck shareholders will own 167% of the combined company[9] Strategic Rationale - The combined company had $47 billion in combined originations in 2019 and has served approximately 7 million customers[7] - The acquisition is expected to be accretive in the first year post-closing and generate earnings per share accretion of more than 40% when synergies are fully realized by year-end 2022[7, 10, 18] - The combined company is expected to have a pro forma Debt to Equity ratio of 45x, a Pro Forma ROE of 520%, and an Adjusted EBITDA Margin of 259%[7] Synergies and Financial Impact - The deal anticipates approximately $50 million in annual cost synergies fully phased-in by year-end 2022[9, 18] - Run-rate net revenue synergies of $15 million are expected when fully phased-in by year-end 2022[9, 18] - Enova's 1Q 2020 revenue was $24 billion, and the pro forma revenue is $12 billion, representing a 109% increase[13] - Enova's 2019 Adjusted EBITDA was $276 million, and the pro forma Adjusted EBITDA is $427 million, representing a 55% increase[14]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |---------------------------------------------------------------------------------------|------------------------------------------------------------------------------|-- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |---------------------------------------------------------------------------------------|------------------------------------------------------------------------------|- ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2020 increased by 37% year-over-year to $362 million, exceeding guidance of $328 million to $348 million [47] - Adjusted EBITDA declined by 55% year-over-year to $36 million, with an adjusted EBITDA margin decreasing to 10% from 30% in the prior year [67] - Net income from continuing operations was $6 million or $0.18 per diluted share, compared to $39 million or $1.13 per diluted share in Q1 2019 [69] - The company ended Q1 with $214 million in cash and marketable securities, with a projected cash balance of at least $350 million to $400 million by the end of Q2 [41][43] Business Line Data and Key Metrics Changes - Domestic lending businesses, including U.S. subprime, net credit, and small business financing, drove growth with a 38% revenue increase year-over-year [22] - Line of credit revenue increased by 78%, while installment loan and finance receivables revenue rose by 23% [22] - The composition of the total portfolio was 66% installment products, 32% line of credit products, and 2% single payer products [23] Market Data and Key Metrics Changes - In Brazil, first quarter originations increased by 10% sequentially and 7% year-over-year on a constant currency basis [24] - The company noted that subprime customers are accustomed to managing cash flow variations, which may mitigate the impact of economic downturns [18] Company Strategy and Development Direction - The company is focused on supporting existing customers and adjusting to emerging risks due to COVID-19, with a significant reduction in originations of 60% to 80% depending on the product [15][14] - Enova's online-only business model and proprietary analytics provide a competitive advantage, allowing for quick adjustments to market conditions [25][36] - The management team emphasized a commitment to long-term sustainable and profitable growth, with plans to resume lending once the economy stabilizes [34] Management's Comments on Operating Environment and Future Outlook - Management highlighted the unprecedented nature of the current recession, driven by unemployment rather than typical economic slowdowns [12] - The company is adjusting its analytics models to account for the unique economic deterioration and is prepared to reaccelerate lending when conditions improve [30][19] - Management expressed confidence in the company's ability to navigate the downturn, citing a strong balance sheet and ample liquidity [31][40] Other Important Information - The adoption of fair value accounting for receivables resulted in a one-time non-cash increase to retained earnings of $99 million [45] - Marketing expenses increased to $35 million, or 10% of revenue, due to the new accounting method, compared to $19 million, or 7% of revenue in Q1 2019 [63] Q&A Session Summary Question: Trends related to stimulus and payments - Management noted stabilization in performance likely due to stimulus payments, but cautioned that it is too early to identify a definitive trend [73] Question: Composition of marketing spend and customer performance - Marketing spend was consistent with previous quarters, and no significant differences were observed in performance between new and existing customers [75][76] Question: Small business lending environment - The small business portfolio remains manageable, with diversified sector exposure and limited impact from high-risk industries [78] Question: Payment frequency and borrower relief requests - Approximately three-quarters of the portfolio had payments due in late March, with over half having three or more payments due since then [86] Question: Fair value assumptions and macroeconomic scenarios - Fair value adjustments were based on current conditions and volatility, with no immediate liquidity concerns anticipated [95] Question: Underwriting tightening and origination volume - The company is focusing on higher credit quality customers and expects better unit economics from current originations [101]

Enova International, Inc. Selected Historical Data (Unaudited) (In thousands, except per share data) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------|------------------|---------|-------------------|-------|---------------------|-------------------|----------|-------|-----------|-------------------|-------|-------|-------------------|-------------------|--------|------ ...

Investor Presentation February 2020 Safe Harbor Statement Cautionary Statement Regarding Risks and Uncertainties That May Affect Future Results This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the business, financial condition and prospects of Enova. These forward-looking statements give current expectations or forecasts of future events and reflect the views and assumptions of Enova's senior management with respect to the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-35503 Enova International, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3190813 (State or other jurisdiction of incorpo ...

Investor Presentation November 2019 Safe Harbor Statement Cautionary Statement Regarding Risks and Uncertainties That May Affect Future Results This presentation contains forward‐looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the business, financial condition and prospects of Enova. These forward‐looking statements give current expectations or forecasts of future events and reflect the views and assumptions of Enova's senior management with respect to the ...