LendingClub

Second Quarter 2025 Results

July 29, 2025

Disclaimer

Some of the statements in this presentation, including statements regarding our competitive advantages, loan and financial performance, business outlook, and demand for our loan programs, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “will,” “would” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to continue to attract new and retain existing borrowers and platform investors; competition; overall economic conditions; the interest rate environment; the regulatory environment; default rates and those factors set forth in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission, as well as in our subsequent filings with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This presentation contains non-GAAP financial measures relating to our performance – Risk-Adjusted Revenue, Pre-Provision Net Revenue and Tangible Book Value Per Common Share and Return on Tangible Common Equity. Our non-GAAP financial measures have limitations as analytical tools, are not prepared under any comprehensive set of accounting rules or principles and should not be considered in isolation or as a substitute for our results under accounting principles generally accepted in the United States (GAAP). We believe these non-GAAP financial measures provide management and investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies. You can find the reconciliation of these non-GAAP financial measure to the most directly comparable GAAP measures on pages 16, 19, 20, and 21, as applicable, of this presentation.

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC.

Award-Winning, Member-Focused Digital Marketplace Bank

Members¹

5+

Million

Out of 5 stars

4.83

$100+

Billion

Originations¹

80

Billion Million

Best High Yield

Best Checking
Account Overall

Average Customer

1. Total members and originations based on lifetime volume across all consumer products as of March 31, 2025. “Members” defined as consumers who have taken a LendingClub product.

2. Based on over 68,000 reviews collected and authenticated by BazaarVoice.

3. LendingClub internal data as of March 31, 2025. NPS measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.

Historically Large Total Addressable Market

Historically High Outstanding Historically High Credit Card

1 2

Revolving Consumer Credit Interest Rates

(in thousands; May 2010 to May 2025, seasonally adjusted)

1. Revolving Consumer Credit Owned and Securitized, seasonally adjusted, G.19 Release, Federal Reserve Bank of St. Louis, July 2025.
2. Commercial Bank Interest Rate on Credit Card Plans, G.19 Release, Federal Reserve Bank of St. Louis, July 2025.

Compelling Value Proposition for Consumers

Historically Large 2 TAM Totaling $1.3T

48% of American households carry revolving debt¹

Since November 2021, average credit card rates have increased by over
650bps to more than 21%

LendingClub Delivers

Compelling Value

TAM Totaling $1.3T 2

A quarter of Americans direct 20-40%
of their paycheck toward paying off credit card debt³

Members save on average over 30%
when they consolidate credit card debt
through LendingClub

Members who consolidate debt see
an average 48-point improvement in
their credit score

Over 85% of loans require no human intervention⁶ and applications can be funded in under 24 hours⁷

Members save on average over 30%
when they consolidate credit card debt through LendingClub

Our Net Promoter Score (NPS) is
80 and our mobile app is rated
4.8 in the Apple app store⁸

87% of our members feel more
confident managing their debt after joining us³

1. Bankrate’s 2025 Credit Card Debt Survey 2. Revolving Consumer Credit Owned and Securitized, seasonally adjusted, G.19 Release, Federal Reserve Bank of St. Louis, July 2025. 3. LendingClub Consumer Debt Survey conducted with Propeller Insights of 1,013 consumers May 13-21, 2024. 4. On average, prime Personal Loans from LendingClub Bank are offered at an APR of 14.3%, based an analysis of historical borrower data between April 2024 and June 2024. This is compared to an average credit card APR of 21.8% for August 2024, according to Commercial Bank Interest Rate on Credit Card Plans, G.19 Release, Federal Reserve Bank of St. Louis. 5. Based on borrowers who were issued a loan between October 2021 and May 2023, and have completed a Balance Transfer loan for debt consolidation. This assumes borrowers refinance at least 51% of their outstanding debt within the first three months of taking a loan, and no new debt is incurred. Data is subject to change. 6. Based on LendingClub internal data. 7. LendingClub internal data as of June 30, 2025 and based on review of loans funded within 24 business hours from the time loan funding is approved. 8. LendingClub internal data as of June 30, 2025. NPS measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends, or colleagues.

Consumer Strategy: Building Lifetime Lending Relationships

Acquire new members through our core personal loans franchise

▪ Competitive rates / terms

▪ Compelling value

▪ Membership benefits

▪ Differentiated features

▪ Proprietary underwriting

▪ World-class experience

Member Growth

Member Performance

Deeper Relationship

Personal loans up to $40,000.

Check Your Rate

LendingClub

Drive member engagement with compelling products, tools, and features

▪ Tools like DebtIQ to increase transparency and highlight value

▪ High-engagement products like LevelUp Savings and LevelUp Checking

Offer additional products and features to meet their evolving needs

▪ Launch new products that uniquely meet member needs

▪ Offer an integrated system of products that work together to unlock additional member value

Products Designed to Deeply Engage Members & Improve Financial Outcomes

Award-winning high yield savings account that rewards members for positive savings behavior

Competitive base APY with a higher rate for members who contribute at least $250 per month

60,000 accounts totaling $2.7 billion in deposits since August 2024 launch¹

LevelUp Savings customers visit us on average nine times per month, a 30% increase over our prior savings product¹

The first checking product in market to offer cash back for on-time loan payments

Offers 2% cash back for on-time payments from the LevelUp Checking account and 1% cash back when using the LevelUp debit card for qualifying gas, grocery, and pharmacy purchases

Since launch in June 2025, LevelUp Checking has driven a 6X increase in account openings over our prior product with nearly 60% of those accounts coming from borrowers⁴

Strategically Positioned for Long-term Success

2Q25 Highlights: Continuing to Exceed Financial Targets

• $690M of held-for-investment loans
• $550M of marketplace whole-loan sales
• $775M loans sold through structured certificates program
• $375M of held-for-sale extended seasoning loans | | Pre-Provision Net Revenue (PPNR)¹ | $70M to $80M | ✔$93.7M+70% YoY | Pre-Provision Net Revenue Growth driven by:
• Higher Net Interest Income from higher interest-earning assets and expanding net interest margin
• Higher Non-Interest Income driven by higher marketplace originations and improved fair value of the Held-for-sale loan portfolio
• Strong operating leverage with year-over-year revenue growth of 33% compared to expense growth of 17% |

Ongoing Credit Outperformance vs. Competitive Set

1,2,3,4 LendingClub vs. Competitive Set: 30-day+ Delinquencies & Hardships at Month on Book 9 by Quarterly Vintage

3. Numbers quoted are an average of the most recent 3 quarterly vintages.

4. There may be differences in the outperformance calculations due to rounding.

5. This data is provided by dv01 to be used for informational purposes only. dv01 is not liable for use of this data. The data is the property and confidential information of dv01. Distribution outside of this presentation is prohibited.

6. Delinquencies include 30+ day delinquencies for each respective quarterly vintage at month on book 9, including loans that are actively in hardship plans.

7. Competitive set includes information with respect to marketplace lenders and direct competitors as reported by dv01's Marketplace Personal Loan benchmarking data as of end-of-month May 2025.

Multiple Loan Disposition Channels Available to Optimize In-Period Earnings and Return on Capital

HIGHER Day-1 Contribution
LOWER lifetime value, capital usage, and credit risk

LOWER Day-1 Contribution
HIGHER lifetime value, capital usage, and credit risk

✓ Preferred structure for bank partners

Graphic is for illustrative purposes only

1. Day-1 Contribution = Day-1 Revenue – variable expenses – provision for loan losses; Post Day-1 Contribution = Total net revenue – variable expenses – provision for loan losses – Day-1 Contribution.

✓ Not marketplace dependent

2. Structured Certificates lifetime value is representative of agreements where LendingClub retains the senior security.

3. Loans in Extended Seasoning are categorized as Held for Sale; It is the Company’s intention to sell these loans before maturity, but for comparative purposes the above chart depicts lifetime economics.

Driving Strong Originations Growth

Structured Certificates Increase Driven by Growing Investor Demand

Consumer Loan

1 ($ in millions)

Originations

+32%

YoY $2,500 to $2,600 $2,391

Whole Loan Sales $1,989 $1,91323% $1,813 $1,846Whole Loan Sales + Structured Whole Loan Sales Whole Loan Sales Whole Loan Sales Certificates 17% 15% Whole Loan Sales 27% Program 60% 31% Structured Certificates Program Structured 32% Structured Structured Certificates Program Certificates Program Certificates Program 43% Structured 26% 49% Certificates Program 30% Ext. Seasoning HFS Ext. Seasoning HFS 16% 12% Ext. Seasoning HFS Ext. Seasoning HFS 6% Ext. Seasoning HFS + Ext. Seasoning HFS 12% Retained HFI 18% Retained HFI Retained HFI 40% Retained HFI Retained HFI 34% 29% 33% Retained HFI 27% 19%

2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Estimate

1. There may be differences between the sum of the quarterly results due to rounding.

||||33% Revenue Growth Year-over-Year||| |---|---|---|---|---|---|---|---|---|---| |||Total Net Revenue $187.2|($ in millions) +33% $217.7 $67.8|$248.4 $94.2|NON-INTEREST INCOME 60% year-over-year increase driven by higher marketplace originations and improved fair value of the Held-for-sale loan portfolio| ||Non-Interest Income|$58.7 $128.5|$150.0|$154.2|NET INTEREST INCOME 20% year-over-year increase in Net Interest Income driven by higher average interest-earning assets and expanding net interest margin| ||Net Interest Income|2Q24|1Q25|2Q25|| ||Provision for Credit Losses|($35.6)|($58.1)|($39.7)|1 RISK-ADJUSTED REVENUE| |Revenue|Risk-Adjusted 1 1)|$151.7|$159.6 Risk-Adjusted Revenue is an important measure reflecting the credit risk-adjusted financial performance of our business operations.|$208.7 Risk-Adjusted Revenue is a non-GAAP financial measure and is equal to Total Net Revenue less Provision for Credit Losses, as reflected and reconciled above to Total Net Revenue (the most directly comparable GAAP measure). We believe|38% year-over-year increase driven by revenue growth described above, partially offset by Day-1 provision for future credit losses on a higher volume of retained loans 13|

Balance Sheet Growing 12% YoY with Net Interest Margin Expanding to 6.14%

in interest-earning

assets driving higher

1. Includes cash, cash equivalents, restricted cash and all other interest-earning assets.

2. In 3Q24, the seller provided low-cost short-term financing to support the $1.3B loan portfolio purchase of previously issued LendingClub loans.

3. There may be differences between the sum of the quarterly results due to rounding.

Lower funding costs supporting Net Interest Margin expansion

Efficiency Ratio Improved 8pts YoY

Disciplined expense management delivering expanding operating leverage

Efficiency Ratio

(Non-Interest Expense as a % of Net Revenue)

1 Total Non-Interest Expense

1. There may be differences between the sum of the quarterly results due to rounding.
2. 4Q24 included a non-cash $4.4 million pre-tax impairment of internally-developed software which became obsolete due to the Tallycode-base acquisition.

($ in millions)

|||156% Year-over-Year Growth in Net Income|Expanding profitability and increasing book value and tangible book value per common share|||||| |---|---|---|---|---|---|---|---|---|---| |Pre-Provision|||||Net Income||| ||1 Net Revenue (PPNR)||||($ in millions)|||| |($ in millions)||+70%||||||| ||||||||+156%|| ||$55.0 2Q24|$73.8 1Q25|$93.7 2Q25|||$14.9 2Q24|$11.7 1Q25|$38.2 2Q25| |Provision for Credit Losses Income Tax Expense|($35.6) ($4.5) 1)|($58.1) ($4.0) measures and a reconciliation of such measures to the nearest GAAP measures.|($39.7) ($15.8)|Diluted EPS Book Value Per Common Share Return on Average Equity Common Equity Pre-Provision Net Revenue ,Tangible Book Value per Common Share and Return on Tangible Common Equity are non-GAAP financial measures. Please see pages 2, 19, 20, and 21 for additional information on our use of non-GAAP financial|Tangible Book Value 1 Per Common Share Return on Tangible 1|$0.13 $11.52 $10.75 4.7% 5.1%|$0.10 $11.95 $11.22 3.5% 3.7%|$0.33 $12.25 $11.53 11.1% 11.8% 16|

Held for Investment Personal Loan Credit Performance by Vintage

Continue to expect marginal ROEs exceeding 20% for all annual vintages

Expected Personal Loans Lifetime Net Loss Rate 1,3

1,3 Expected Personal Loans Lifetime Net Loss Rate

• Improvement in 2024 vintage
driven by strong credit performance
1.3%

Gross Allowance
(as of 06/30/25)

▪ Excluding qualitative reserves, the expected lifetime net loss rate for 2024 is lower than earlier vintages

▪ 2022 and 2023 vintages continue to have stable credit performance

Total allowance for loan losses in 2022, 2023, and 2024 is $121M, comprised of gross allowance of $152M for future estimated charge-offs on existing portfolio balances, net of $31M of estimated recoveries on previously charged-off loans

1. Estimates at 06/30/25 reflect current loss forecast expectations, including qualitative loss estimates; future results could differ materially from estimates, including impacts from economic outlook
2. Future provision estimate primarily reflects ongoing recognition of provision expense for discounted lifetime losses at origination (using discounted CECL methodology)

3Q25 Guidance

Outlook Context

▪ Continued positive momentum in originations

▪ 3Q25 PPNR guidance assumes growing revenue partially offset by investment in marketing channel expansion

▪ Guidance assumes stable economic operating environment

Reconciliation of GAAP to Non-GAAP Measures: 1 Pre-Provision Net Revenue

Pre-Provision Net Revenue 1

For the three months ended

Reconciliation of GAAP to Non-GAAP Measures: 1 Tangible Book Value Per Common Share

Tangible Book Value Per Common Share 1

Reconciliation of GAAP to Non-GAAP Measures: 1 Return On Tangible Common Equity

Return On Tangible Common Equity 1