Onemain Holdings, Inc. · NYSE:OMF
Onemain — OneMain Financial — Debt Investor Presentation (October 2026)
54 slides from Onemain's debt investor presentation, October 2026
Slide 1: ABS Investor Presentation
OneMain Financial ABS Investor Presentation NYSE: OMF | October 2026
Slide 2: Important Information
Important Information Cautionary Note Regarding Forward-Looking Statements This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words “anticipates,” “appears,”
Slide 3: Agenda
Agenda 1 Company Overview 4 2 Underwriting & Servicing 18 3 ABS Overview 26 4 OneMain Impact 43 5 Data Supplement 46 3
Slide 4: Company Overview
Company Overview OneMain Financial Better Borrowing. Brighter Future.
Slide 5: Key Takeaways
Key Takeaways We have unique competitive advantages Our responsible lending practices, state- 1 to serve the nonprime consumer, including a 100+ year history, capital, scale and a nationwide branch network 5 licensed model and culture of compliance are core to our business model 2 6 Our business is
Slide 6: OneMain Customers
Our vision is to be the lender of choice for the nonprime consumer Meet their Progress to a needs today better future Unsecured loans OneMain Financial wellness Secured loans Customers Insurance Auto finance Bill negotiation Credit cards 6
Slide 7: Our nationwide branch network provides us with unique capabilities
Our nationwide branch network provides us with unique capabilities Unique capabilities largest branch network ~1,300 branches 7th (including banks)1 Personalized service Staff performs both originations and collections Thoughtful customer budgeting and underwriting Community of prospects live within
Slide 8: Our nationwide branch network is enhanced by digital and central capabilities
Our nationwide branch network is enhanced by digital and central capabilities Branch Enhance customer Drive operating engagement and efficiencies satisfaction Originations Servicing Collections Enable multiple Increase capacity product delivery Supported by a strong compliance and control culture 8
Slide 9: We have built a differentiated business model
We have built a differentiated business model Digital Branch-based Regional banks Competitive Advantages OneMain lenders lenders & credit unions Nonprime focus / ~20MM ~$230B Customer Cumulative proprietary data served2 originations2 Funding breadth ~90% $11.6B Of New Customer Unencumbered and acces
Slide 10: Our customers are hardworking Americans
Our customers are hardworking Americans Customer Attributes1 Use of Loan Proceeds2 Other ~630 average FICO 13% Debt $75k to $80k annual gross income Family related consolidation 10% 38% ~10 years in the same residence ~50% in the same job 5+ years Home repair 12% Employed in stable industries 11% 16
Slide 11: Our product offerings address our customers' needs
Our product offerings address our customers’ needs Personal Lending Auto Revolving Credit Unsecured Secured Direct Auto Auto Finance Credit Card Personal loan Personal loan ≤10-year auto age1 Direct & Indirect BrightWay ® Key Stats: Avg. Loan Size ~$8k ~$14k ~$18k ~$24k ~$1k Avg. APR ~28% ~27% ~25%
Slide 12: 2Q26 Credit Card and Auto Highlights
2Q26 Credit Card and Auto Highlights ($ in millions) Everyday transactions Financing at the point of purchase • Digital-first offering that rewards good • Deep experience in secured lending, credit behavior best-in-class capabilities and strong credit performance • Targeted and disciplined rollout •
Slide 13: Credit Card Funding Evolution
Credit Card Funding Evolution Funding strategy evolves alongside portfolio scale, transitioning from balance sheet and warehouse towards term ABS program Corporate / Balance Sheet VFN / Warehouse Term ABS Seed & Flexibility Interim Liquidity Scaled term funding 2021-2023 2024-2026 2027+ Build the In
Slide 14: OneMain Credit Card Strategy
OneMain Credit Card Strategy Scale the Card business responsibly while meeting the everyday needs of the nonprime consumer Strategic Priorities Manage Long-term Losses Expand Customer Base Deepen Relationship with Evolve Operations Best Customers Manage losses by leveraging deep Grow the portfolio r
Slide 15: Our balance sheet is a strength and a competitive differentiator
Our balance sheet is a strength and a competitive differentiator $4-6 billion 4.3 years $0 annual debt issuance weighted-average bond unsecured debt maturities OMFIT | ODART | Unsecured notes | Whole loan sale maturity until January 2027 Balanced AAA $11.6 billion debt mix ABS top tranche unencumber
Slide 16: Market-Leading Funding Profile
Market-Leading Funding Profile ($ in billions) Our liquidity position & funding programs stand out in the consumer lending space Funding Sources Liquidity • We rely on diverse funding sources with the following strategy: • $7.5B in committed bank lines and sizable unpledged collateral ensure a • Wel
Slide 17: Strong compliance and controls culture
Strong compliance and controls culture Seasoned regulatory and compliance teams consistent with legacy bank ownership 3 Lines of defense Branch and Central Team Members Business responsible for day-to-day risk mitigation Legal, Risk, HR, Finance and Compliance ensure adherence with policies and proc
Slide 18: Underwriting & Servicing
Underwriting & Servicing OneMain Financial Better Borrowing. Brighter Future.
Slide 19: How we make and service loans
How we make and service loans Marketing Direct-mail, credit aggregators, email, partnerships and web searches Customer has liquidity need (e.g. unexpected repair bill) and/or an interest in consolidating debt to Customer Need simplify their finances or reduce amount of monthly debt payments Begin on
Slide 20: Superior credit risk management underpinned by four key pillars
Superior credit risk management underpinned by four key pillars Proprietary Scoring Modeling Capabilities • Diverse data sources • Logistic regression • Models enhanced with third party data • Evaluation of gradient- boosted and random forest • Decades of history modeling OneMain Ability-to-Pay Coll
Slide 21: We manage credit decisions at a very granular level
We manage credit decisions at a very granular level Illustrative data points represent thousands of micro-segments Illustrative return on tangible equity Unsecured Suggests Baseline ’01/’02 stress Annual contraction Affiliate C originations New customer State D 17% 2% $80mm Risk grade AA ••• Actual
Slide 22: Extensive servicing resources
Extensive servicing resources Delinquency Timeline Branch Centralized Current 1 payment past due 2 payments past due 3-6 payments past due Charge-off Recovery Days Past Due 1-29 30-59 60-179 180+ Branch Normal economic environment ~1,300 ~5,400 Locations Team members Collections Originations and ser
Slide 23: Strong performance of repeat customers informs business strategy
Strong performance of repeat customers informs business strategy Strong payment track record Only performing customers Repeat borrowers with OneMain may qualify customer eligible for renewals re-underwritten for larger loan Income re-verified1 Collateral re-inspected Affordability re-evaluated Repea
Slide 24: We deliver superior credit results through the cycle
We deliver superior credit results through the cycle Quarterly credit performance since 4Q 2017 10.7% 10.2% 7.3% 6.5% 4.0% 3.5% Average loan net charge-offs 2.0% 1.3% Standard deviation OneMain dv01 dv01 KBRA (C&I* Loan Metrics) nonprime1 total1 Marketplace Index2 Avg FICO3 ~630 667 722 689 *See 2Q2
Slide 25: As part of our stress testing, we review historical data
As part of our stress testing, we review historical data Granular analysis segmented by product, customer type, FICO, loan amount and term Cumulative C&I gross charge-offs* by yearly vintage1 1.58x 10.4% 9.7% 8.9% 6.6% 5.4% 5.6% 5.0% 2006 2007 2008 2009 2010 2011 2012 *See 2Q2026 earnings release ap
Slide 26: ABS Overview
ABS Overview OneMain Financial Better Borrowing. Brighter Future.
Slide 27: OneMain ABS relative value
OneMain ABS relative value Long Operating History 100+ years in business Seasoned programs with 44 issuances for ~$35B Seasoned Programs Consistent collateral performance Generally wider spreads, more enhancement, more excess spread vs. Card & Auto Program Liquidity Numerous dealers offer liquidity
Slide 28: Revolving structure relative value
Revolving structure relative value Amortizing Revolving • Monthly top-ups replace charge-offs, • Fixed collateral pool Flexibility to Manage prepays and matured loans,1 providing • No ability to replenish pool with higher Transactions ability to manage collateral pool quality quality collateral • Ad
Slide 29: ABS Funding
ABS Funding Funding & Liquidity/ Personal Loan ABS Auto ABS Program Collateral Conduits Program (“OMFIT”) (“ODART”) As of June 30, 2026, OneMain Significant forward liquidity 34 Personal Loan securitizations 10 Auto securitizations since 2016 had principal debt balances of runway since 20131 • OMF A
Slide 30: Best in class investor transparency
Best in class investor transparency Investor Friendly Resources • Quick reference landing page • Pool balances • Key metrics • Tranche balances • Credit enhancement • Full monthly servicer report history (exportable through Excel) • Private Placement Memorandums • Latest ABS investor presentation •
Slide 31: Reporting & Collateral Management
Reporting & Collateral Management • Dedicated team of 6 in ABS Reporting and 3 in Treasury Risk & Collateral Management • Multi-step controls after Collateral team selects initial loan pool Step 1: Collateral Review Quality Control by Treasury Risk 4-eye principle monthly loan reviews of all new and
Slide 32: Secured & Unsecured Personal Loans "OMFIT" Program
Secured & Unsecured Personal Loans “OMFIT” Program
Slide 33: Consumer Loan ABS
Consumer Loan ABS Consumer Loan ABS new issue supply (2014-2026)1 ✓ We created Consumer Loan ABS asset class in 2013 35 80 ✓ Asset class developed into a large, diverse 30 70 class over past ~10 years with a liquid primary 60 25 and secondary supply Issuance ($bn) 50 20 # of Deals ✓ Issuer of 34 ABS
Slide 34: Personal loan cumulative net loss
Personal loan cumulative net loss All vintages well below rating agency stress first dollar loss scenario1 OneMain combined PL annual vintage cumulative net loss2 35.0% OMFIT 2026-2&3 32.5% 30.0% Rating Agency Class D ‘BBB’ Curve 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 0 3 6 9 12 15 18 21 24 27 30 33 36 3
Slide 35: OMFIT performance vs. Peers
OMFIT performance vs. Peers • Proven ability-to-pay underwriting, with income, identity and employment verification • Loss performance comparable to prime borrowers and significantly better than nonprime competitors • OMFIT performance bolstered by secured collateral composition (~63% secured collat
Slide 36: OMFIT 2026-3 Overview
OMFIT 2026-3 Overview Capital Structure1 • OMFIT 2026-3 represents the 26th transaction from the OMFIT shelf since the program’s inception in 2014 • This is the fourteenth OneMain deal utilizing a horizontal residual interest for US Risk Retention and is compliant with EU/UK Risk Retention requireme
Slide 37: Direct Auto Loans "ODART" Program
Direct Auto Loans “ODART” Program
Slide 38: Unique direct-to-consumer auto product
Unique direct-to-consumer auto product Product type2 • Direct Auto product is an extension of our successful Secured Personal Loan product, offering borrowers a lower rate, larger loan option Cash Out Refinance New Borrowing on • Auto secured loans higher in customer payment 59% Free & Clear Car hie
Slide 39: Secured lending performance driven by frequency of default
Secured lending performance driven by frequency of default 2019 Cumulative unit loss %1 Frequency of loss is primary driver of our materially stronger secured 20% loan loss performance 15% • Lower unit defaults reflect borrowers’ need of their vehicles to 10% live/work 5% Better recoveries for secur
Slide 40: Direct Auto cumulative net loss
Direct Auto cumulative net loss All vintages well below rating agency stress first dollar loss scenario1 OneMain combined Direct Auto annual vintage cumulative net loss2 16.0% 14.0% 14.15% ODART 2026-1 Rating Agency Class D 12.0% CNL Curve 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 0 3 6 9 12 15 18 21 24 27 30
Slide 41: OneMain Auto vs other auto issuers
OneMain Auto vs other auto issuers S&P Index: annualized net loss rates1,2 12.00% 10.00% 8.00% 8.01% 6.00% 4.00% 2.93% 2.00% 0.00% May-16 Nov-16 May-17 Nov-17 May-18 Nov-18 May-19 Nov-19 May-20 Nov-20 May-21 Nov-21 May-22 Nov-22 May-23 Nov-23 May-24 Nov-24 May-25 Nov-25 May-26 Subprime OneMain Direc
Slide 42: ODART 2026-1 overview
ODART 2026-1 overview Capital Structure1 • ODART 2026-1 represents the 10th transaction from the ODART shelf since the program’s inception in 2016 • Tenth OneMain deal utilizing a horizontal residual interest for US Risk Retention and compliant with EU Risk Retention requirements2 Class A • The Note
Slide 43: OneMain Impact
OneMain Impact OneMain Financial Better Borrowing. Brighter Future.
Slide 44: We are a socially responsible company
We are a socially responsible company Underserved communities Financial wellness Community engagement Large presence in credit-at-risk Bill negotiation, subscription Expanding our free financial communities1 cancellation, budgeting, education program and transaction tracking nationwide for high scho
Slide 45: OneMain Social Bond & Social ABS Overview
OneMain Social Bond & Social ABS Overview Issued $750MM Social Bond in 2024… Issued $600MM 3-year Revolving Social ABS in 2022… second OneMain Social bond issuance since 2021 first Social ABS by a U.S. based issuer • $750MM bond with 2031 maturity at 7.125% coupon • $600MM 3-year revolving Social AB
Slide 46: Data Supplement
Data Supplement OneMain Financial Better Borrowing. Brighter Future.
Slide 47: Borrower assistance programs
Borrower assistance programs Description % of LTM Units1 Deferment • Allows customer to remain current with partial payment; addresses a short-term cash 2.7% flow issue Modification • Provides relief to customer for ongoing cash flow challenges; could involve 0.6% adjustment to loan terms Re-age • L
Slide 48: OMFIT Key Performance Metrics
OMFIT Key Performance Metrics 3 Month Net Annualized Loss1 60+ Delinquency (Dotted lines represent amortization period) (Dotted lines represent amortization period) 14.0% 7.0% 12.0% 6.0% 10.0% 5.0% 8.0% 4.0% 6.0% 3.0% 4.0% 2.0% 2.0% 1.0% 0.0% 0.0% 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 5
Slide 49: ODART Key Performance Metrics
ODART Key Performance Metrics 3 Month Net Annualized Loss1 60+ Delinquency (Dotted lines represent amortization period) (Dotted lines represent amortization period) 5.0% 2.5% 4.0% 2.0% 3.0% 1.5% 2.0% 1.0% 1.0% 0.5% 0.0% 0.0% 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 1 4 7 10 13 16 19 22 25 28 31 34
Slide 50: Credit Card Master Trust Snapshot
Credit Card Master Trust Snapshot Portfolio Yield %1 Total Payment Rate % 50.0% 16.0% 40.0% 12.0% 30.0% 8.0% 20.0% 4.0% 10.0% 0.0% 0.0% 60+ DPD% NCO % 8.0% 20.0% 6.0% 15.0% 4.0% 10.0% 2.0% 5.0% 0.0% 0.0% Note: 3-Month average Master Trust data as of 8/31/26 1. Represents collected yield on Master Tr
Slide 51: FCRT Key Performance Metrics
FCRT Key Performance Metrics Cumulative Net Loss Cumulative Gross Loss 16.0% 25.0% 20.0% 12.0% 15.0% 8.0% 10.0% 4.0% 5.0% 0.0% 0.0% 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 2023-1 2023-2 2024-1 2023-1 2023-2 2024-
Slide 52: Personal Loan 30+ day delinquency outcomes (Company portfolio)
Personal Loan 30+ day delinquency outcomes (Company portfolio) 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Roll Worse 4.0% 4.0% 4.0% 4.0% 3.9% 3.9% 3.7% 3.6% 3.4% 3.5% 3.5% 3.6% 3.8% 3.8% 3.9%
Slide 53: Direct Auto 30+ day delinquency outcomes (Company portfolio)
Direct Auto 30+ day delinquency outcomes (Company portfolio)1 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Worse 1.9% 1.9% 1.9% 1.9% 1.9% 1.9% 1.8% 1.7% 1.6% 1.6% 1.6% 1.7% 1.7% 1.7% 1.8%
Slide 54: Thank you
Quarterly Results Thank you Please reach out with any questions Asset-Backed Securities Contacts David Schulz Treasurer David.Schulz@omf.com (212) 359-2426
OneMain Financial — Debt Investor Presentation (October 2026) on 6ix