Lendingclub Corporation · NYSE:LC

Lendingclub — Shareholder Meeting (January 2023)

15 slides from Lendingclub's shareholder meeting presentation, Jan 19, 2023

  1. Slide 1: Stockholder Outreach Winter 2023

    Stockholder Outreach Winter 2023 Exhibit 99.1

  2. Slide 2: Disclaimer

    2 Disclaimer LendingClub Corporation (the “Company”), its directors and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies from stockholders in connection with the Company’s 2023 Annual Meeting of Stockholders (the “2023 Annual Meeting”).

  3. Slide 3: About LendingClub

    3 About LendingClub Our Competitive Advantage  Our efficient capital-light marketplace model enables us to generate savings for borrowers across the credit spectrum by matching them with the lowest available cost of funding provided by our platform investors  Scale, data and innovation enable us t

  4. Slide 4: Record Financial Results

    4 Record Financial Results Total Revenue ($ in millions) Net Income (Loss) ($ in millions) $318.1 $818.6 $1,186.5 2020 2021 2022 $(187.5) $18.6 $288.5 2020 2021 2022 Successful Execution of Company Strategy Drives Financial Results, with Record Revenues Converting into Record Profits* * 2022 total r

  5. Slide 5: Stockholder Feedback Drives Evolving Practices

    5 Stockholder Feedback Drives Evolving Practices Commitment to ongoing enhancements in response to stockholder feedback Next Step Governance-Focused Enhancements  Adopted majority voting standard in 2018  Began publishing director skills matrix in 2019  Board refreshment with 4 new directors sinc

  6. Slide 6: Overview of Equity Compensation Program

    Overview of Equity Compensation Program While equity compensation is critical to attracting/retaining talent, the Company is committed to reducing the associated dilution * Figures reflect: (i) preliminary year end 2022 data for LendingClub Corporation and (ii) data for the most recently completed f

  7. Slide 7: Equity Plan Proposal to Enable Reductions in Dilution

    7 Equity Plan Proposal to Enable Reductions in Dilution Provides additional time to prudently use existing shares and reduce dilution Our Ask of Stockholders: Extend expiration of 2014 equity plan from December 2024 to December 2028  No additional shares requested at this time  No extension of eve

  8. Slide 8: Reducing Dilution in 2023

    8 Reducing Dilution in 2023 Changing withholding mechanics to recapture shares that would otherwise be sold into the market Current Practice RSU/PBRSU vesting results in compensatory income to employees, creating a tax withholding obligation for the Company The Company currently primarily satisfies

  9. Slide 9: Long-Term Commitment to Reduce Dilution

    Long-Term Commitment to Reduce Dilution Company will monitor dilution and undertake necessary measures to ensure substantial reductions 9  Adjusted internal guidelines to reduce target equity award sizes by 25%, despite dramatically improved financial performance  All equity awards to new hire emp

  10. Slide 10: Appendix

    Appendix Summaries of the following: 1. Board of Directors 2. CEO Equity Compensation Design 3. 2022 Peer Group 4. Alignment with ESG 10

  11. Slide 11: Highly Qualified and Engaged Board of Directors

    11 Highly Qualified and Engaged Board of Directors John C. (Hans) Morris Managing Partner, Nyca Partners Former President, Visa Independent Chairman Director since 2013 Timothy J. Mayopoulos President, Blend Labs Former President & CEO, Fannie Mae Director since 2016 Allan Landon Assistant Dean & Ad

  12. Slide 12: CEO Equity Compensation Design

    2019 Design 2020 Design 2021 & 2022 Design Overall Weight  50% of equity  55% of equity  55% of equity Metrics & Weights  25% Relative TSR based  Target performance set at 50th percentile  35% Relative TSR based  Raised target performance from median to 55th percentile  100% Relative TSR bas

  13. Slide 13: 2022 Peer Group Update

    13 2022 Peer Group Update Refreshed 2020 peer group to reflect changes in business model and increased availability of fintech peers Results  New peer group: Affirm Holdings, Axos Financial, Banc of California, Blend Labs, Blucora, Domo, Enova International, Green Dot, LendingTree, Live Oak Bancsha

  14. Slide 14: Aligned with ESG

    Aligned with ESG 14 LendingClub’s Mission is to Empower Our Members on Their Path to Financial Health Social  Researchers from the Federal Reserve have found that “consumers pay smaller spreads on loans from LendingClub than from credit card borrowing”  Support a 36% interest rate cap at the state

  15. Slide 15: LendingClub

    § LendingClub

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