Onemain Holdings, Inc. · NYSE:OMF

Onemain — Springleaf Holdings — 2014 Barclays Global Financial Services Conference

16 slides from Onemain's conference presentation, Sep 8, 2014

1. Slide 1: 2014 Barclays Global Financial Services Conference

   2014 Barclays Global Financial Services Conference Springleaf Holdings, Inc. (LEAF) September 8, 2014

2. Slide 2: Important Information

   Important Information The following pages are part of a presentation by Springleaf Holdings, Inc. (the "Company") are intended to be viewed as part of that presentation. No representation is made that the information in these pages is complete. For additional financial, statistical and business rela

3. Slide 3: Non-GAAP Financial Measure

   Non‐GAAP Financial Measure We present core earnings as a “non‐GAAP financial measure” in this presentation. This measure is derived on the basis of methodologies other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Please refer to the Finan

4. Slide 4: Springleaf Overview

   Springleaf Overview  Leading consumer finance company with 95 year history – offering loans through nationwide branch network and online platform  Uniquely positioned to capitalize on supply‐demand imbalance within the non‐prime lending space  Recognized for outstanding service, fair pricing and

5. Slide 5: Large Borrower Demand, Limited Supply

   Large Borrower Demand, Limited Supply  60% of U.S. households reported a need for credit in the prior 12 months(1)  Huge Non‐Prime Population with Limited Liquidity – 44% of US households are ‘liquid asset poor’, meaning they have less than 3 months worth of savings(2)  Reduced Supply – Few non‐p

6. Slide 6: Few Borrowing Alternatives for Non-prime Customers

   Few Borrowing Alternatives for Non‐prime Customers  Of those lending today… – Banks and peer‐to‐peer lenders principally target prime borrowers – Other non‐prime lenders offer less favorable terms  Springleaf offers responsible alternative for borrowers seeking affordable personal loans  Fixed ra

7. Slide 7: LEAF Customer Demographics

   LEAF Customer Demographics  Customer base very representative of American population  Our borrowers typically have solid job history and consistent income, but are credit constrained – Borrowers rely on our loans for: loan consolidation, home/auto repair, unexpected life events Average Borrower De

8. Slide 8: Key 2014 Priorities

   Key 2014 Priorities  Achieve high teens growth in Consumer Loan receivables  Drive positive operating leverage by growing receivables per branch  Maintain balance between receivable growth and credit performance  Diversify product offerings including launch of direct auto lending  Leverage KY s

9. Slide 9: Branch Receivables Growth and Scalability

   Branch Receivables Growth and Scalability Consumer Receivables Per Branch ($ mm)(1) Proven History of Scalability $4.5 $4.1 $4.0 $3.8 $3.5 $3.1 $3.0 $2.5 $2.5 $2.4 $2.0 12/31/10 12/31/11 12/31/12 12/31/13 6/30/14 Key Performance Metrics 2012 2013 2Q14 (2) Avg. Annual Apps / Branch 2,882 4,908 6,628

10. Slide 10: Compelling Business Economics

    Compelling Business Economics  Branch expenses are largely fixed; platform provides significant scale benefits  Assuming 4x receivable leverage, LEAF can generate pre‐tax ROA of 10%+ Yield Continues to Trend Up(1) Illustrative Portfolio Returns(3) (4) 30.0% ($ in millions) 1H14 Ann Target 27.0% 25

11. Slide 11: Bottom Line Driven by Receivables per Branch

    Bottom Line Driven by Receivables per Branch  Branch receivable growth achievable with minimal incremental investment required 2Q14 Branch Distribution by Average Receivables Avg. Receivables 12/31/12 6/30/13 12/31/13 6/30/14 % Change per Branch # % # % # % # % Since 2012 < $3mm 498 60% 410 49% 258

12. Slide 12: Consumer Loan Credit Performance

    Consumer Loan Credit Performance  Strong loan performance relative to other comparable asset classes through cycles Annualized Net Charge‐offs(1,2) 10.00% 8.00% 5.94% 6.00% 5.06% 4.00% 4.67% 2.00% 0.00% (3) 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 1H Private Label Credit Card Subprime Auto

13. Slide 13: Liquidity and Funding at 6/30/14

    Liquidity and Funding at 6/30/14  Strong and stable liquidity position – $891 million cash and $1.2 billion committed undrawn funding capacity  Sale of $7.2 billion of real estate loans, including $0.5 billion closed on 6/30/14(1) – Expected cash proceeds of ~$3.0 billion – Pro forma 6/30/14 real

14. Slide 14: Springleaf Highlights

    Springleaf Highlights  Target market is large, underserved and growing Supportive Market  Banks and other lenders have largely retreated Dynamics  “High cost” lenders face increased regulatory scrutiny  Best in class performance driven by strong, local underwriting and servicing Top Performing 

15. Slide 15: Appendix

    @ Springleaf 1s

16. Slide 16: Reconciliation – Push-Down Accounting to Historical / Pretax Core Earnings

    Reconciliation – Push‐Down Accounting to Historical / Pretax Core Earnings (unaudited, in thousands) 2Q14 1Q14 2Q13 1 1 Push‐Down Accounting Pretax Income Attributable to Springleaf $117,143 $82,842 $89,141 2 Interest Income (34,360) (36,867) (51,859) 3 Interest Expense 34,967 28,560 34,165 4 Provis

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