LendingClub

First Quarter 2024 Results

April 30, 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, 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 the economic environment, competition, regulatory changes, and other risks.

Award-Winning Member-Focused Digital Marketplace Bank

Members
4.9+ Million
Average Customer Review
4.9+
Originations
$90+ Billion
Net Promoter Score (NPS)

|||The Solution We’re Providing||
|---|---|---|---|---|---|
|Prior year.|47% of American households carry over $1.3 trillion of revolving debt, paying an estimated $133 billion in fees and interest in 2022 alone – up 23% over the prior year.|Since November 2021, average credit card rates have increased by more than 700bps to over 21%. | LendingClub’s 4.9+ million members have already come to us to access lower-cost credit. While we serve a broad range of borrowers, their average income is over $100K with a high FICO (700+ avg.), but they also have high debt. And 83% tell us they want to do more with us!|Our direct-to-consumer digital marketplace bank features a vertically integrated model that allows us to reimagine banking, including lending, spending, and saving for our members.|
|1) Bankrate.com 2) LendingTree, May 1, 2023|3) 4)|LendingClub internal data|Commercial Bank Interest Rate on Credit Card Plans, G.19 Release, Federal Reserve Bank of St. Louis, February 2024|4|

Total Addressable Market & Customer Value Proposition Has Never Been Greater

Record High Outstanding Credit Card

Revolving Consumer Credit Interest Rates

$1,350

$1.3T

Strategically Positioned for Long-term Success

1Q24 Highlights: Achieved Financial Targets

Strong Capital & Liquidity Position

MAJORITY INSURED DEPOSITS

87%

$6.5B of $7.5B total deposits are insured compared to 56% average for all FDIC-insured institutions as of 12/31/23^{1}$

AMPLE CASH ON HAND

$1.1B

Cash represents 12% of Total Assets; provides 106% coverage of uninsured deposits

BORROWING CAPACITY

$2.9B

Includes loans and securities pledged as collateral with the Federal Reserve Bank and Federal Home Loan Bank

STRONG CAPITAL BUFFER

Ongoing Credit Outperformance vs. Competitive Set

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

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

7% 7% 7%
6% 5.9% 5.6% 5.9% 6% 6%
5% 5% 5% 41% Lower 4% 4% 4%
3.8%
3.1%
3% 3.5% 3% 2.8% 2.7% 3%
3.0%
42% 2% 2% Lower 2% 1.9% 1.9% 2.0%
51%
1.8% 1.6% 1.6%
Lower 1% 1% 1%
0.9% 1.1%
0.8%
0% 0% 0%

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

WHOLE LOAN STRUCTURED EXTENDED HELD FOR

DAY-1 CONTRIBUTION LIFETIME VALUE(Current Economics)
$0
Maximum LTV if held to maturity
Day-1 Contribution
Post Day-1 Contribution
1) LIFETIME VALUE** (Current Economics)

Resuming Originations Growth with New Programs and Asset Structures

Consumer Loan Originations ($ in millions)

$2,288

$2,011

$1,600 - $1,800

$1,630 $1,646

Whole Loan Sales 54% $1,508
Whole Loan Sales 20% Whole Loan Sales 22% 58% Whole Loan Sales 26%
Whole Loan Sales + Structured Certificate Sales² ~60%
Structured Certificate Sales² 36%|Certificate Sales|Structured|48%|

Revenue Sequentially

Net Interest Margin Reflecting Lower-Risk Balance Sheet

Continued Profitability Increasing TBV per Common Share

Held for Investment Personal Loan Credit Performance by Vintage

Expected lifetime net loss rates remain in-line with prior quarter expectations across all vintages

Expected Personal Loans Lifetime Net Loss Rate

2021 Vintage 8.9%
2022 Vintage 8.9%
2023 Vintage 8.9%

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

LendingClub