Investor Presentation March 2026 Forward-looking statements 2 Company Overview Company Overview 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; ...

Financial Data and Key Metrics Changes - The company generated $25 million of GAAP net income in 2025, including $3.4 million in Q4, marking a significant improvement of $104 million year-over-year [5] - Adjusted EPS grew by 89% in 2025, reaching $1.36, towards the high end of the $1.30-$1.40 expectation [15] - The annualized net charge-off rate was 12.3% in Q4, at the better end of the guidance range [6] - Q4 operating expenses were $84 million, below the $92 million expectation, marking the lowest quarterly spend as a public company [6][18] - Full-year 2025 GAAP operating expenses totaled $362 million, a reduction of $49 million or 12% from 2024 [6] Business Line Data and Key Metrics Changes - Originations grew by 10% during full year 2025, exceeding prior expectations for high single-digit growth [10] - Secured personal loans (SPL) originations increased by 51% in 2025, with the secured portfolio growing 39% year-over-year to $226 million [11] - Customer acquisition costs declined by 6% to an average of $117, reflecting strong loan demand and improved cost efficiency [10] Market Data and Key Metrics Changes - The company expects mid-single-digit originations growth for 2026, with a cautious outlook due to macroeconomic factors affecting low to moderate-income consumers [12][14] - The anticipated annualized net charge-off rate for 2026 is projected at 11.9% ±50 basis points, reflecting a slight year-over-year improvement [28] Company Strategy and Development Direction - The company is focused on three strategic priorities: improving credit outcomes, strengthening business economics, and identifying high-quality originations [7] - Plans to reintroduce risk-based pricing above 36% APRs for select higher-risk segments on shorter-term loans, aiming to enhance unit economics and profitability [9] - The company aims to achieve GAAP ROEs of 20%-28% annually by reducing annualized net charge-offs to 9%-11% and lowering operating expenses to 12.5% of its own portfolio [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about consumer resilience despite macroeconomic challenges such as inflation and uneven job creation [12][41] - The company anticipates a cautious environment for low to moderate-income consumers, with expectations for modest incremental profitability in 2026 [12][33] - Management expects full-year profitability to improve across all metrics in 2026, despite additional credit tightening [32] Other Important Information - The company completed a $485 million ABS transaction with a sub 6% funding cost and a AAA rating on the senior notes [7] - The CEO announced plans to step down by April 3rd, with a commitment to support a smooth transition [33][34] Q&A Session Summary Question: Can you provide more color on the macro environment and signs for loosening credit? - Management noted consumer resilience and expected larger tax refunds, but highlighted concerns over low wage growth and rising fuel prices [41][42] Question: What data points support the expectation for a decrease in net charge-off rates? - Management indicated confidence based on delinquency trends, expecting a decrease in losses starting in Q2 [50][51] Question: Can you elaborate on operating expenses and the flat guidance for 2026? - Management explained that while they will continue to seek reductions, there will be incremental investments in risk-based pricing and secured personal lending [52][55] Question: What are the goals for corporate debt reduction in 2026? - Management confirmed ongoing efforts to pay down high-cost corporate debt, with plans for additional payments throughout the year [71][72]

Financial Data and Key Metrics Changes - The company generated $25 million of GAAP net income in 2023, including $3.4 million in Q4, marking a significant improvement of $104 million year-over-year [5] - Adjusted EPS grew by 89% in 2023, reaching $1.36, towards the high end of the $1.30-$1.40 expectation [15] - Q4 operating expenses were $84 million, below the $92 million expectation, marking the lowest quarterly spend as a public company [6][18] - The annualized net charge-off rate was 12.3% in Q4, at the better end of the guidance range [6][22] Business Line Data and Key Metrics Changes - Originations for the full year 2023 grew by 10%, with Q4 originations of $495 million down 5% year-over-year due to credit tightening actions [10][16] - Secured personal loans (SPL) originations increased by 51% in 2023, with the secured portfolio growing 39% year-over-year to $226 million [11] - The risk-adjusted net interest margin ratio improved by 55 basis points year-over-year to 15.8% [8] Market Data and Key Metrics Changes - The company noted that inflation above Federal Reserve targets and declining wage growth create a cautious environment for low to moderate-income consumers [12][13] - The outlook for 2024 assumes mid-single-digit originations growth and a slight decline in average daily principal balance [14] Company Strategy and Development Direction - The company is focused on three strategic priorities: improving credit outcomes, strengthening business economics, and identifying high-quality originations [7] - Plans to reintroduce risk-based pricing above 36% APRs for select higher-risk segments on shorter-term loans to enhance profitability and expand access to responsible credit [9] - The company aims to achieve GAAP ROEs of 20%-28% annually by reducing annualized net charge-offs and lowering operating expenses [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about consumer resilience despite macroeconomic challenges, including lower GDP growth and wage growth for the lowest quartile [41] - The company expects full-year profitability to improve across all metrics in 2024, projecting adjusted EPS growth of 16% at the midpoint of guidance [14][32] - Management anticipates that Q1 2024 will represent the peak quarterly net charge-off rate for the year, with moderation expected in subsequent quarters [22][27] Other Important Information - The company completed a $485 million ABS transaction with a sub 6% funding cost, marking its fourth consecutive issuance [7] - The CEO announced plans to step down by April 3rd, with a commitment to support a smooth transition [33][34] Q&A Session Summary Question: Can you provide more color on the macro environment and signs for loosening credit? - Management noted consumer resilience and expectations for larger tax refunds, but highlighted concerns over low wage growth and rising fuel prices [41][42] Question: What data points support confidence in a decrease in net charge-off rates? - Management indicated that delinquencies, particularly 30-plus delinquencies, are showing positive trends, supporting expectations for lower losses in Q2 and beyond [50][51] Question: Can you elaborate on operating expenses and the flat guidance for 2024? - Management explained that while there will be some incremental investments, overall discipline in expense management will keep operating expenses flat [52][56] Question: What are the goals for corporate debt reduction in 2024? - Management confirmed ongoing efforts to pay down high-cost corporate debt, with plans for additional payments throughout the year [71][72]

Oportun Financial Conference Summary Company Overview - **Company**: Oportun Financial (Ticker: OPRT) - **Industry**: Financial Services, specifically focused on providing borrowing and saving solutions to low to moderate-income individuals - **Founded**: 2005 - **Key Metrics**: - Approximately 8 million loans originated - Over $21 billion in credit extended - 1.3 million members helped to build credit histories [2][3] Financial Performance - **Revenue Guidance for 2025**: Expected to generate $950-$955 million [3] - **Adjusted EBITDA**: Projected between $137-$143 million [3] - **GAAP Profitability**: Achieved for the last four consecutive quarters with $31 million in earnings [3] - **Q3 2025 Results**: - Total revenue: $239 million - Net income: $5.2 million - Adjusted net income: $19 million, with adjusted EPS of $0.39, up from $0.02 last year [18][22] - Originations: $512 million, up 7% year-over-year [18] - Operating expenses: $91 million, down 11% from the prior year [18] Product Offerings - **Unsecured Personal Loans**: Largest and most profitable segment, average loan size of $3,100, average term of 26 months, and weighted average APR of 35.8% [4][5] - **Secured Personal Loans**: Grew approximately 50% quarterly, now representing 8% of the portfolio, with an average loan size of $6,400 and weighted average APR of 34% [5][6] - **Set and Save Savings Product**: Rated highly by Bankrate and Forbes, helping members save an average of $1,800 annually [10][11] Underwriting and Risk Management - **Underwriting Model**: 100% centralized and automated using AI and machine learning, allowing for precise credit and fraud decisions [7][8] - **Credit Performance**: - 30-plus day delinquency rate at the higher end of expectations, leading to tightened credit [12][16] - Median gross income of approved borrowers: approximately $50,000 [14] - Losses on front book loans 700 basis points lower than back book loans [16] Strategic Priorities - **2025 Focus**: - Improving credit outcomes - Strengthening business economics - Identifying high-quality originations [11] - **Referral Program**: Grew 25% to $31 million in Q3, contributing to overall originations [12] Market Position and Outlook - **Target Market**: Low to moderate-income consumers, with a focus on those underserved by traditional credit providers [25] - **Addressable Market**: Expected to remain stable, with a higher number of individuals living paycheck to paycheck [25][26] - **Future Growth**: Anticipated growth through increased marketing efforts without loosening credit standards [26][27] Capital Structure and Liquidity - **Debt to Equity Ratio**: Reduced from 7.3 times to 7.1 times [19] - **Cash Position**: Total cash of $224 million, with $105 million unrestricted [21] - **Interest Expense**: Declined by $3 million sequentially, with ongoing efforts to reduce high-cost corporate debt [20][34] Conclusion - **Key Takeaways**: - Consistent GAAP profitability and improved financial performance - Strong focus on credit discipline and operational efficiency - Positive outlook for growth and shareholder value in 2025 and beyond [22][36]

Core Insights - Oportun Financial Corporation reported strong financial results for Q3 2025, achieving GAAP profitability for the fourth consecutive quarter with a net income of $5.2 million, a $35 million improvement year-over-year [1][2][13] - The company aims for a long-term Return on Equity (ROE) target range of 20% to 28%, with significant gains in both ROE and Adjusted ROE [2] - Adjusted EBITDA grew by 31% year-over-year to $41 million, exceeding guidance expectations [2] Financial Performance - Total revenue for Q3 2025 was $239 million, down 5% from $250 million in Q3 2024, primarily due to the absence of $9.2 million from a sold credit card receivable portfolio [11][4] - Net revenue increased by 68% year-over-year to $105 million, driven by reduced fair value marks and net charge-offs [11] - Operating expenses decreased by 11% year-over-year to $91 million, reflecting cost reduction initiatives [12] Earnings Metrics - GAAP EPS for Q3 2025 was $0.11, compared to a loss of $0.75 in the prior-year quarter, while Adjusted EPS rose to $0.39 from $0.02 [15][11] - Adjusted Net Income was $19 million, significantly up from $0.9 million in Q3 2024 [15][13] Credit and Delinquency Metrics - The annualized net charge-off rate improved to 11.8%, down from 11.9% in the prior-year quarter, with dollar net charge-offs declining by 3% year-over-year [14][17] - The 30+ day delinquency rate also improved to 4.7%, compared to 5.2% in the prior-year quarter [14][17] Operational Highlights - Aggregate originations for Q3 2025 were $512 million, a 7% increase from $480 million in the prior-year quarter [5][7] - The owned principal balance at the end of the period was $2.6 billion, down from $2.7 billion in the prior-year quarter [5] Funding and Liquidity - As of September 30, 2025, total cash was $224 million, with $105 million in cash and cash equivalents and $119 million in restricted cash [21] - The company expanded its warehouse financing capacity from $954 million to $1.14 billion in October 2025, improving its capital structure [22] Financial Outlook - For Q4 2025, Oportun expects total revenue between $241 million and $246 million, with a full-year revenue guidance of $950 million to $955 million [24] - The company anticipates an annualized net charge-off rate of 12.1% for the full year 2025 [24]

Core Insights - The article addresses the challenges faced by individuals with low credit scores seeking loans in emergency situations [1][2] Group 1: Loan Options - Secured personal loans are recommended as they use an asset as collateral, improving chances of qualification but carrying the risk of asset loss [4] - Credit unions may offer unsecured loans or payday alternative loans (PALs) with lower rates compared to payday lenders, though availability varies [5] Group 2: Alternatives to High-Cost Loans - High-interest payday loans are discouraged due to aggressive debt collection tactics and potential for debt cycles [6] - Local or national charitable organizations and community action agencies can provide essential support, including interest-free loans and grants for eligible individuals [6][7]

Financial Data and Key Metrics Changes - The company achieved GAAP profitability for the third consecutive quarter, with net income reaching $6.9 million, a year-over-year improvement of $38 million [7][18] - The return on equity (ROE) improved to 7%, up 41 percentage points year-over-year [7] - The annualized net charge-off rate was 11.9%, which is 41 basis points better than the previous year [8][24] - Operating expenses were $94 million, down 13% year-over-year, with a revised full-year expectation of approximately $380 million [9][21] Business Line Data and Key Metrics Changes - Originations for Q2 totaled $481 million, an 11% increase year-over-year [12][19] - The secured personal loans portfolio grew by 58% year-over-year, accounting for 39% of personal loan originations growth [13] - The average loan size decreased by 6%, making it easier for customers to repay loans [51] Market Data and Key Metrics Changes - The company completed a $439 million asset-backed securities (ABS) transaction at a weighted average yield of 5.67%, marking a 128 basis point improvement from the previous transaction [9][26] - Total cash as of June 30 was $228 million, with $97 million unrestricted [25] Company Strategy and Development Direction - The company is focused on improving credit outcomes, strengthening business economics, and identifying high-quality originations [10] - The strategy includes a conservative credit posture and a focus on smaller loans to drive repeat borrowing [55][62] - The company aims to achieve a long-term target of GAAP ROEs of 20% to 28% annually [29] Management's Comments on Operating Environment and Future Outlook - Management noted resilience among customers despite macroeconomic uncertainties, with a focus on maintaining a conservative credit approach [14][65] - The company expects a slower decline in the net charge-off rate for the second half of the year due to higher member repayment rates [15] - Full-year adjusted EPS guidance was increased by 8%, now targeting $1.2 to $1.4 per share, reflecting strong growth compared to last year [16][28] Other Important Information - The company has reduced its debt-to-equity ratio from 7.6 times to 7.3 times quarter-over-quarter [24] - The company has raised over $3 billion in diversified financings since June 2023 [26] Q&A Session Summary Question: Discussion on portfolio performance and repayment rates - Management clarified that elevated repayment rates are not indicative of adverse selection, but rather a result of customers being current on their loans [36][37] Question: Adjusted net income versus adjusted EBITDA guidance - Management explained that strong demand for loans has positively impacted adjusted net income, while adjusted EBITDA guidance remains unchanged due to other factors [38] Question: Competitive environment and repayment behavior - Management indicated that the competitive landscape remains stable, with no significant changes in origination fees, and attributed repayment behavior to smaller loan sizes [51][52] Question: Future expectations for annualized net charge-off rates - Management noted that macroeconomic factors could influence charge-off rates, but emphasized a focus on controlling internal factors like loan sizes [92][93] Question: Operating expenses outlook for 2026 - Management stated that while it is too early to provide specific guidance for 2026, efforts will continue to reduce operating expenses and leverage technology for efficiency [94][96]

Core Insights - Oportun Financial Corporation reported a GAAP net income of $6.9 million for Q2 2025, marking a $38 million improvement year-over-year [1][2] - The company achieved a GAAP EPS of $0.14, an increase of $0.92 compared to the same quarter last year [1][2] - Adjusted EPS rose to $0.31, reflecting a 288% increase from the prior-year quarter [1][2] - Operating expenses decreased by 13% year-over-year, contributing to margin expansion [1][12] - The company raised its full-year 2025 Adjusted EPS guidance by 8% at the midpoint to a range of $1.20 to $1.40, indicating strong growth of 67% to 94% over the previous year [2][22] Financial Performance - Total revenue for Q2 2025 was $234 million, down 6% from $250 million in Q2 2024, primarily due to the absence of revenue from a sold credit card portfolio [11][12] - Net revenue increased by 74% year-over-year to $105 million, driven by reduced fair value marks and net charge-offs [11] - Adjusted EBITDA for Q2 2025 was $31 million, slightly up from $30 million in the prior-year quarter [15] Operational Metrics - Aggregate originations reached $481 million, an 11% increase compared to $435 million in the prior-year quarter [5][7] - The owned principal balance at the end of the period was $2.6 billion, a decrease of 3% from $2.7 billion in the prior-year quarter [5] - The annualized net charge-off rate improved to 11.9%, down 41 basis points from 12.3% in the prior-year quarter [5][17] - The 30+ day delinquency rate decreased to 4.4%, down from 5.0% in the prior-year quarter [5][17] Guidance and Outlook - For the full year 2025, total revenue is expected to be between $945 million and $960 million, with a slight reduction in the higher end of the range by $10 million [2][22] - The company anticipates an annualized net charge-off rate of 11.9% for the full year, with a range of +/- 30 basis points [22] - Adjusted EPS guidance for the full year remains at $1.20 to $1.40 per share [22] Funding and Liquidity - As of June 30, 2025, total cash was $228 million, including cash and cash equivalents of $97 million and restricted cash of $131 million [21] - The cost of debt was reported at 8.6%, with a debt-to-equity ratio of 7.3x [21] - The company had $618 million of undrawn capacity on its existing $954 million personal loan warehouse lines [21]

Company Strategy & Performance - Oportun shifted its focus from growth to profitability, reduced headcount, and streamlined operations due to changing economic conditions in early 2022[7] - Oportun's actions led to improved credit metrics, increased profitability, and a more than doubled stock price over the last 12 months[7] - Oportun is focused on three strategic priorities: improving credit outcomes, strengthening business economics, and identifying high-quality originations[14] - Oportun's strategy is delivering results, with progress on credit performance, expense discipline, and profitability[37] - Oportun achieved an Adjusted EBITDA of $105 million and Adjusted EPS of $0.72 in FY24[19] Findell's Proxy Contest - Findell Capital Management is pursuing a proxy contest to remove Oportun's CEO from the Board[7] - Oportun believes Findell's remaining ideas are not in the best interests of the company or its stockholders[17] - Oportun has concerns about Findell's nominee, Warren Wilcox, and his suitability as a fiduciary[17] - Oportun believes Findell's comparisons to OneMain Financial are misguided, as Regional Management is a more appropriate comparator[47] Board & Governance - Oportun's Board has been actively refreshed over the last several years and is best positioned to oversee the company's strategy[51] - Oportun is reducing the size of the Board, consistent with best practices and Findell's feedback[163]

Core Viewpoint - Oportun is urging stockholders to support its management team and board nominees, emphasizing the company's strong financial performance and strategic direction ahead of the 2025 Annual Meeting [1][3][5]. Group 1: Financial Performance - Oportun's Q1 2025 performance showed aggregate originations grew by nearly 40% year-over-year [5]. - The adjusted operating expense ratio reached 13.3%, marking the second lowest in the company's history as a public entity [5][17]. - The company expects adjusted EPS for 2025 to be between $1.10 and $1.30, reflecting a year-over-year growth of 53% to 81% [5][18]. Group 2: Strategic Initiatives - Oportun has streamlined its product portfolio, reduced costs, and focused on improving credit outcomes and business economics [4][15]. - The company has taken decisive actions to enhance credit quality, resulting in a fifth consecutive year-over-year decline in the 30+ day delinquency rate [5][17]. - Oportun's strategic priorities include improving credit outcomes, strengthening business economics, and identifying high-quality originations [16][18]. Group 3: Governance and Board Nominees - Oportun is nominating Raul Vazquez and Carlos Minetti for election to the Board, highlighting their qualifications and alignment with stockholder interests [20][21]. - The Board emphasizes that removing CEO Raul Vazquez would disrupt the company's progress and leadership continuity [25][28]. - Stockholders are encouraged to vote using the GREEN proxy card to support the company's nominees [3][29]. Group 4: Company Background and Mission - Oportun has provided over $20 billion in credit, helping more than 1.3 million members build credit histories [7]. - The company aims to offer responsible credit at lower costs than traditional financial institutions, focusing on underserved communities [6][8]. - Oportun's mission is to provide inclusive, affordable financial services that empower individuals to build better futures [6].