FINDELL CAPITAL MANAGEMENT RESPONDS TO OPORTUN (NASDAQ: OPRT) COMMENTS, ANNOUNCES NOMINATION OF SANDRA BELL AND WARREN WILCOX

Core Viewpoint - Findell Capital Management expresses confidence in the expertise of nominated directors Sandra Bell and Warren Wilcox to improve governance and operations at Oportun Financial Corporation, highlighting the legacy board's record of value destruction and attributing recent stock price recovery to Findell's involvement [1][3][5]. Group 1: Governance Issues - The current board of Oportun is criticized for being controlled by six legacy directors lacking lending experience, raising concerns about their ability to oversee the company effectively [3][6]. - Findell believes the addition of Bell and Wilcox is essential to address governance issues that hinder long-term value realization [3][11]. Group 2: Stock Performance - Oportun's stock price peaked at $27.95 in November 2021 but fell to around$3 in early 2023 due to management errors, with a recovery to approximately $6 following Findell's engagement and the addition of new directors [5][6]. - The legacy board's claims of credit for the stock price improvement are viewed as unfounded, as the recovery is attributed to Findell's actions and the new directors' involvement [6][11]. Group 3: Financial Performance - Oportun has a loan book of approximately$3 billion generating $1 billion in interest revenue, with the potential to produce over$250 million in pre-tax income if managed effectively [7]. - The company reported a decline in origination volume from $3 billion in 2022 to$1.8 billion in 2024, indicating that cost reductions have not kept pace with declining income-producing assets [9][10]. Group 4: Director Qualifications - Sandra Bell has extensive experience in financial services, having served as CFO for multiple companies and holding significant roles in risk and audit committees [12]. - Warren Wilcox has a strong background in fintech and lending, having served on various boards and played a key role in creating new financial technology startups [13][14]. Group 5: Call to Action - Findell encourages shareholders to support the nomination of Bell and Wilcox to drive necessary changes at Oportun, emphasizing the importance of shareholder interests over those of the current board [15][16].