LendingClub

Third Quarter 2024 Results

October 23, 2024

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. 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. 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 13, 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 | Originations¹ $90+ Billion | Best Checking | Best Overall Checking Account | | Average Customer Review² | 4.83 Out of 5 stars 1) 2) 3) | Net Promoter Score (NPS) | 83 Based on over 68,000 reviews collected and authenticated by BazaarVoice. | Total members and originations based on lifetime volume across all consumer products as of September 30, 2024. “Members” defined as consumers who have taken a LendingClub product. LendingClub internal data as of September 30, 2024. NPS measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues. |

Total Addressable Market & Customer Value Proposition Has Never Been Greater

Record High Outstanding Record High Credit Card

1 2

Revolving Consumer Credit Interest Rates

(in thousands; August 2009 to August 2024, seasonally adjusted) (August 2009 to August 2024)

1. Revolving Consumer Credit Owned and Securitized, seasonally adjusted, G.19 Release, Federal Reserve Bank of St. Louis, August 2024
2. Commercial Bank Interest Rate on Credit Card Plans, G.19 Release, Federal Reserve Bank of St. Louis, August 2024

Our Core Credit Card Refinance Use Case

Historically High &

Costly Credit Card Debt

47% of American households carry 1,2

over $1.3 trillion of revolving debt

over $1.3 trillion of revolving debt 1,2

Since November 2021, average credit card rates have increased by more 1 than 700bps to nearly 22%

than 700bps to nearly 22% 1

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

LendingClub Delivers

Compelling Value

Members save on average over 30% when they consolidate credit card debt 4 through LendingClub

Members who consolidate debt see an average 48-point improvement in 5 their credit score

their credit score 5

Approved applications typically funded in less than 24 hours⁶

And Our Members

Love Us for It

Our Net Promoter Score (NPS) is 83 and our mobile app is rated 4.7 in the Apple app store⁷

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

83% of our members want to do more with us

1. Bankrate.com. 2. Revolving Consumer Credit Owned and Securitized, seasonally adjusted, G.19 Release, Federal Reserve Bank of St. Louis, August 2024. 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. LendingClub internal data. 7. LendingClub internal data as of September 30, 2024. NPS measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.

Our Consumer Strategy: Building Lifetime Lending Relationships

Acquire new members through our core personal loans franchise

▪ Competitive rates / terms

▪ Compelling value

▪ Proprietary underwriting

▪ Differentiated features

▪ Membership benefits

▪ World-class experience

Member Growth

LendingClub

2 Drive member engagement with compelling products, tools, and features

▪ Mobile app combining lending and deposits

▪ Tools like DebtIQ to increase transparency and highlight value

▪ High-engagement products like LevelUp Savings

LendingClub

Member Performance

3 Offer additional products and features to meet their evolving needs

▪ Highlight existing products

▪ Launch new products that uniquely meet member needs

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

Deeper Relationship

DebtIQ + Tally: Powerful Member Engagement Platform

Highlighting Personal Loan Value Proposition

LendingClub members have high incomes (over $100K) and high FICOs (700+ average), but also have high credit card debt¹

The average LendingClub member has 5-7 credit cards with multiple due dates and minimum payments¹

Members’ average credit card debt is 1 approximately $20,000

Members use spreadsheets and other forms of manual tracking to keep up

47% of U.S. cardholders don’t know the interest rate on their credit cards²

Will provide members with unmatched visibility into their credit card debt and offer payoff solutions

Debt Monitoring – Visibility into rates, outstanding balances, due dates, minimum payments, and more

In App Payments – Establish credit card payments directly through DebtIQ, ensuring payments are never missed

Payoff Strategies – Strategies for effectively paying down card debt, including personal loan refinancing options

Integration with LendingClub Personal Loans – Including more precise loan offers based on current card APRs

Feature development accelerated by the October 2024 acquisition of Tally’s award-winning credit card debt management solution

Strategically Positioned for Long-term Success

3Q24 Highlights: Exceeded Financial Targets

Ongoing Credit Outperformance vs. Competitive Set

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

LendingClub Competitive Set³

FICO 660-719 FICO 720-779 FICO 780-850

7% 7% 7%

6% 6% 6%

5.9% 5% 4.7% 5% 5%

4.4% 4% 4% 4% 48% Lower

3.1% 3% 3% 3%

2.4% 3.0% 2.2% 2.0% 1.9% 2.4% 2% 2.4% 2% 44% 2% 1.6% Lower 53%

1.6% Lower 1.4% 1% 1% 1.3% 1%

1.0% 0.8% 0.8% 0% 0% 0%

1. 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.
2. Delinquencies include 30-day+ delinquencies for each respective quarterly vintage at month on book 9, including loans that are actively in hardship plans.
3. Competitive set includes marketplace lenders and direct competitors.

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

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

WHOLE LOAN STRUCTURED EXTENDED HELD FOR

SALES CERTIFICATES SEASONING¹ INVESTMENT

Maximum LTV if held to maturity Post Day-1 Contribution²

Day-1 Contribution²

LIFETIME VALUE(Current Economics) Post Day-1 Contribution

$0

✓ Most capital efficient ✓ Credit risk remote for LC ✓ Provides investors opportunity Day-1 CECL for larger purchases Provision ✓ Highly scalable ✓ Highest returns on risk- Impact based capital ✓ Strong returns while on ✓ Serves broadest credit balance sheet spectrum ✓ Removes friction for loan investors ✓ No CECL provision ✓ Highest Post Day-1 Contribution

✓ Not marketplace dependent

Graphic is for illustrative purposes only

1. 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.
2. 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.

Continued Origination Growth

Higher retention of loans and senior securities contributing to balance sheet growth

1 ($ in millions)

Consumer Loan Originations

$1,913 $1,800 - $1,900

$1,813 Whole Loan Sales $1,630 $1,646 Whole Loan Sales 17% 15% $1,508 Whole Loan Sales Whole Loan Sales + Whole Loan Sales Whole Loan Sales + 20% 22% Structured Certificate Structured Whole Loan Sales Certificate Program Program²2 26% ~60% 55% Structured Structured Certificate Program² Certificate Program² 43% Structured 49% Certificate Program² Structured Structured 48% Certificate Program² Certificate Program2 36% 61% Ext. Seasoning HFS 12% Ext. Seasoning HFS Ext. Seasoning HFS + Ext. Seasoning Ext. Seasoning HFS 18% HFS + Retained HFI Retained HFI 17% 15% ~40% 45% Retained HFI Ext. Seasoning HFS 5% 27% Retained HFI Retained HFI Retained HFI 22% Retained HFI, 12% 17% 19%

3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Estimate

1. There may be differences between the sum of the quarterly results due to rounding.
2. Structured Certificate Program loans are sold into a trust. In most cases, LendingClub retains a 5% vertical slice of the loan pool as a security as well as a risk-remote senior note, also in the form of a security.

Acquired $1.3B Seasoned Portfolio of Previously Sold LendingClub-Issued Loans

▪ Strategically deployed excess capital to generate attractive returns

▪ High-confidence returns in a seasoned, high-quality portfolio of LendingClub personal loans

▪ Weighted-average life of approximately one year

▪ Portfolio yield is approximately 10%, inclusive of expected credit losses

Whole Loan Portfolio(in $M)

▪ Elected Fair Value Option for accounting treatment due to short duration of seasoned portfolio

Revenue Increase Driven by Improved Loan Pricing and Balance Sheet Growth

Total Net Revenue($ in millions)

NON-INTEREST INCOME

Sequential growth primarily due to loan sale pricing improvement, partially offset by a reduction in servicing revenue driven by loan portfolio purchase during the quarter

NET INTEREST INCOME

Sequential growth driven by increase in interest-earning assets due to loan portfolio purchase during the quarter

RISK-ADJUSTED REVENUE 1

1 RISK-ADJUSTED REVENUE

Sequential growth driven by revenue growth described above, partially offset by higher loan retention during the quarter driving higher day-1 credit provision

Growing Balance Sheet with Attractive Net Interest Margin

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

2. In the first quarter of 2024, “Retail and certificate loans held for investment at fair value” were combined within “Loans held for investment at fair value.” Prior period amounts have been reclassified to conform to the current period presentation.

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

4. In the third quarter, the seller provided low-cost short-term financing to support the loan portfolio purchase of LendingClub loans

Asset growth reflects $1.3B loan portfolio purchase

Modest NIM decline despite strong asset growth

Disciplined Expense Management and Revenue Growth Driving Improved Efficiency Ratio

Total Non-Interest Expense 1

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

1 Total Non-Interest Expense ($ in millions)

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

Held for Investment Personal Loan Credit Performance by Vintage

2023 Vintage Continues to Demonstrate Stability

1,3

Expected Personal Loans Lifetime Net Loss Rate

2022 Vintage 2023 Vintage

LEGEND

9.15% 8.91%• 2023 vintage incorporates higher level of 8.5% - 8.8% 8.5% - 8.8% **1.2%**qualitative reserves 0.4% - 0.7% 0.3% - 0.6% Future

1.7% Provision 2 Estimate

• 2022 vintage updated for lower recovery (to be recognized in future periods) 3.7%

expectations and modest increase in

4.7% lifetime losses Allowance on Book

(reserve taken for expected future 7.9% charge-offs + 7.2% qualitative reserve,exceeding 20% for all annual vintages net of future recoveries) 4.5%

3.4% Net Charge-offs to Date

6/30/24 9/30/24 6/30/24 9/30/24 Total allowance for loan losses in 2022 and 2023 is $108M, comprised of gross allowance of $146M for future estimated Gross Allowance charge-offs on existing portfolio balances, net of $38M of $72.5M $73.1M (as of 9/30/24)estimated recoveries on previously charged-off loans

1. Estimates at 9/30/24 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)
3. There may be differences between the sum of the quarterly results due to rounding.

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

Pre-Provision Net Revenue 1

For the three months ended

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

LendingClub