Slide 1: The Responsible Way to Pay
®sezzle The Responsible Way to Pay Third Quarter 2025 Earnings Presentation November 5, 2025
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation (the “Presentation") contains summary information about the activities of Sezzle as of the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete and
Slide 3: 3Q25 Snapshot
$Q25 Snapshot 3Q25 Results FY2025 Updated Guidance GMV Growth (YoY) 58.7% \ August Guidance November Guidanco \ Total Revenue Growth (YoY) 67.0% Adjusted Net Income® $120.0m No change $ YoY % 85.8% 85.8% Net Income 26.7M Adjusted Net Income Net Income Margin 22.8% Per Diluted Share® $3.25 $3.38 Adju
Slide 4: Features Drive Consumer Acquisition, Retention, and Engagement
Features Drive Consumer Acquisition, Retention, and Engagement Features launched in 2025 Monthly Sessions! > Earn Tab: Sezzle Arcade, Coupons & Discount, Gas & Dining Discounts, Sezzle Quest, Money IQ ; Yr yi — 4 Browser Price | ul Yo YOY t Sezzle Balance : 4 Wishlist ' v Extension Comparison | Futu
Slide 5: Subscription Outperformance
Subscription Outperformance Driving Profitable Growth Launch of 1 Bush to ‘ Subscription Performance in 3Q25 | On-Demand : | Subscription | 10 More Orders from Subscribers vs. Non-Subscribers on Average @ @ 36 Top 10% Anywhere Subscribers 9O-days i i x Frequency! 784,000 © 000 i sse.000 748,000 37x
Slide 6: YoY Engagement Metrics
YoY Engagement Metrics Monthly On-Demand & Subscribers (MODS!) 3Q25 784,000 3Q24 529,000 +255k YoY Quarterly Purchase Frequency (Average) 3Q25 6.5x 3Q24 5.4x +1.1x YoY Active? Consumers Repeat Usage as a % of Total Orders (Cumulative) +11.49 + sos I 2200 0° | as I oso. 7D OPS YoY YoY Unique Merchant
Slide 7: Last Twelve Months (LTM) QoQ Engagement Metrics
Last Twelve Months (LTM) QoQ Engagement Metrics Quarterly Purchase Frequency (Average) Active! Consumers Unique Merchants? Shopped at by Consumers 6.5x 6.1K 6.1x - a a 4Q24 1925 2Q25 3Q25 2,725,000 2,734,000 4Q24 1025 2,860,000 2Q25 2,971,000 3Q25 412,000 31,000 346,000 7 4Q24 1025 2Q25 474,000 3Q25
Slide 8: YoY Progression Overview
YoY Progression Overview Adjusted Net Income is a non-GAAP finay compensation and corporate strategic project cost Adjusted EBITDA, see Appendix Il. Adjusted prior Total Revenue Less Transaction Related Cos and Tradeshows, and General and Administrative Operating @ sezzle| 3025 Presentation Total Re
Slide 9: Gross Merchandise Volume (GMV) & Total Revenue
Gross Merchandise Volume (GMV) & Total Revenue @ sezzle| 3025 Presentation Gross Merchandise Volume (GMV) eoeaa eam $927.0 $1,047.3 $659.9 3Q24 4Q24 1Q25 2Q25 3Q25 = GMV ($ in millions) Total Revenue 3Q24 4Q24 1Q25 2Q25 3Q25 mmm Total Revenue ($ in millions) % of GMV
Slide 10: Transaction Related Costs As a % of GMV
As a % of GMV $53.5 3Q24 4Q24 1Q25 2Q25 3Q25 T fa N S a ct | O N mmm Transaction Related Costs ($ in millions) % of GMV Related Costs’ As a % of Total Revenue $53.5 $43.9 $38.4 3Q24 4Q24 1Q25 2Q25 3Q25 mmm Transaction Related Costs ($ in millions) % of Total Revenue ‘Transaction Related Costs is @ n
Slide 11: Transaction Related Costs
Transaction Related Costs’ Transaction Expense Provision for Credit Losses Updating FY2025 guidance to 2.5%-2.75% from 2.5%-3.0% $24.4 $16.1 $17.4 Ul © $15.3 $14.2 C1 4 5 8 3Q24 4Q24 1Q25 2Q25 3Q25 $12.8 3Q24 4Q24 1Q25 2Q25 3Q25 % of GMV % of GMV mmm Provision for Credit Losses ($ in millions) lm Tr
Slide 12: Total Revenue Less Transaction Related Costs
As a % of GMV 3Q24 4Q24 1Q25 2Q25 3Q25 Total Revenue tho a Tarn ad a io Less Transaction Related Costs As a % of Total Revenue $54.3 . $60.3 $63.3 3Q24 4Q24 1Q25 2Q25 3Q25 mmm Total Revenue Less Transaction Related Costs ($ in millions) % of Total Revenue 1Total Revenue Less Transaction Related Cost
Slide 13: Positioned for All Conditions
Positioned for All Conditions 62.0% The short duration product results in quick portfolio turnover, a 60.0% > COUNIEEEE with repayment trends evident after 14 days Oo et 2 2 2 58.0% : Type of Loan Std. Loan Tenor z 58.0% &3 7.2 point margin expansion oe & $1.4B GMV increase as g f= 56.0% i Lease-to-
Slide 14: Non-Transaction Related Operating Expenses
% of Total Revenue $31.6 $26.9 $26.9 $27.7 N on -T ransa ctio Nn 3024 4a24 1025 2025 3025 Corporate Strategic Projects Costs ($ in millions) Related Operating $0.2M . $0.1M . $0.0M $0.4M $13M mmm Non-Transaction Related Operating Expenses ($ in millions) ——% of Total Revenue 1 Expenses Corporate Str
Slide 15: Net Income & Adjusted Net Income
Net Income & Adjusted Net Income Net Income $36.2 Oo i: O $15.4 3Q24 4024 1025 2025 3025 mmm Net Income ($ in millions) % of Total Revenue $1.2 3Q24 Adjustments $0.7 — | el coo Ml ($2.8) 4Q24 1025. 225 = Adjustments ($ in millions) Adjusted Net Income! $35.3 $26.1 $24.8 $25.4 = all L] L] 3Q24. 4Q24—
Slide 16: Net Income & Adjusted EBITDA
Net Income & Adjusted EBITDA @sezzle| 3025 Presentation Net Income & Adjusted Net Income! $36.2 $35.3 “Ti 4 $26.1 $27.6 “iT 8 $26.7 $25.4 | —& 3Q24 4Q24 1Q25 2Q25 3Q25 = Net Income ($ in millions) = Adjusted Net Income ($ in millions) Non-GAAP Adjusted EBITDA? 49.0% 32.4% 33.1% $51.4 a 6 $38.4 $39.6
Slide 17: Select Balance Sheet & Cash Flow Metrics
Select Balance Sheet & Cash Flow Metrics Balance Sheet Audited Unaudited Unaudited $ in Thousands Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Key Assets >) Cash and cash equivalents! $88,893 $88,943 $104,147 Restricted cash $31,976 $31,026 $30,509 Total cash $120,869 $119,969 $134,656 Total notes receiva
Slide 18: Outlook
Outlook FY2025 Guidance 2024 Actual August 2025 November 2025 Guidance Guidance Total Revenue 70% Growth 60% — 65% No change Total Revenue Less Transaction Related Costs! 55.7% 60% — 65% No change as a % of Total Revenue 959 oo Effective Income Tax Rate (16.6%)? 25% oc discrete No change Adjusted Ne
Slide 19: Appendices
@sezzle| 3025 Pr resentation Appendices
Slide 20: Appendix I: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix |: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Operating Income to Total Revenue Less Transaction Related Costs For the three months ended (in $ thousands) September 30, 2025 June 30, 2025 March 31, 2025 December 31,2024 September 30, 2024 Operating income $ 35,5
Slide 21: Appendix II: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix Il: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Operating Expenses to Transaction Related Costs For the three months ended (in $ thousands) September 30, 2025 June 30, 2025 March 31, 2025 December 31,2024 September 30, 2024 Operating expenses $ 81,235 $ 62,616 $
Slide 22: Appendix III: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix Ill: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Net Income to Adjusted Net Income! For the three months ended (in $ thousands; except per share amounts) September 30, 2025 June 30, 2025 March 31, 2025 December 31,2024 September 30, 2024 Net income $ 26,671 $ 27,
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement our operating results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), we present the following non-GAAP financial measures: Total revenue less transaction related costs; transaction related costs; non-trans
Slide 24: Non-GAAP Financial Measures (Cont.)
Additionally, we have included these non-GAAP measures because they are key measures used by our management to evaluate our operating performance, guide future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of resources. Therefore, we
Slide 25: The Responsible Way to Pay
®sezzle The Responsible Way to Pay