Enova International, Inc. · NYSE:ENVA
Enova International — Investor Presentation (March 2022)
37 slides from Enova International's investor presentation, Mar 11, 2022
Slide 1: Investor Presentation February 2022
Investor Presentation February 2022 © Enova International, Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Cautionary Statement Regarding Risks and Uncertainties That May Affect Future Results This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the business, financial condition and prospects of Enova.
Slide 3: Year-to-Date February 2022 Update
Year-to-Date February 2022 Update Originations Portfolio Performance G enova. Total company originations year-to- date through February 28 totaled approximately $697 million, more than double the same period during 2021 Both consumer and small business originations year-to-date through February 28 a
Slide 4: Enova at a Glance
Enova at a Glance Founded in 2004, Enova is a leading financial technology company providing online financial services through its Al and machine learning powered lending platform. Enova has been listed on the New York Stock Exchange since 2014. 2021 Revenue Loans made to date Total products offered
Slide 5: Consistent Shareholder Returns and Value Opportunity
Consistent Shareholder Returns and Value Opportunity Strong Shareholder Returns Average Annual Total Shareholder Return 2016-2021 30% 27% 25% 19% 20% 15% 12% 12% 10% 8% 7% 5% 0% ENVA S&P 600Consumer S&P600SmallCap Russell 2000 Index Russell 2000 S&P 600 Financial Finance Index Index Financials Index
Slide 6: Execution Reflected in Financial Performance
Execution Reflected in Financial Performance Q4 2021 #WINS! CA 16 v $2.0B 27% 14% 46% Ending receivables’ Return on Average Quarter-over-quarter increase in revenue Shareholder’s Equity” Percentage of new customers in Q4 Largest and most Strong trailing 12- Continued strong Highest new diverse recei
Slide 7: Our Mission
OVIR MISSION JT WHOOIVIN Helping hardworking people get access to fast, trustworthy credit Closing the world’s credit gap Sg enova.
Slide 8: Investment Highlights
“Focus on Non-Prime Borrowers, a large, expanding market segment where we have deep experience ak, o f}-0 tf ry » Diversified Product Offerings unmatched across both underserved nonprime consumers and small businesses _ nova Investment Highlights Approach to Unit Economics and deploying capital that
Slide 9: Our Products Meet the Needs of Underserved Populations
CG enova. Our Products Meet the Needs of Underserved Populations Non-Prime consumers have unexpected expenses and limited savings. of Americans cannot cover an emergency expense of $400 Over half of non-prime Americans face 3 or more unexpected expenses per year Non-Prime consumers are frequently tu
Slide 10: Large Growth Opportunities in Non-Prime Markets
Large Growth Opportunities in Non-Prime Markets $156B+ $30B $232B US Consumer Loans Brazil Consumer Loans US SMB Loans Enova < 1% of Loan Balances Enova < 1% of Loan Balances Enova < 1% of Loan Balances Total Unsecured Personal Loan Balances, by Risk Tier Q3 2020 Q3 2021 = Subprime = Near Prime Prim
Slide 11: Highly Flexible Online-Only Business Model
Highly Flexible Online-Only Business Model "52% of [mobile banking] users are visiting branches less frequently. The rotation toward digital channels is likely to be long-lasting: nearly 88% of respondents who have been using their mobile apps more frequent intend to continue to do so after the pand
Slide 12: Enova Uses a Diversified Multichannel Marketing
~s Enova Uses a Diversified Multichannel Marketing Multichannel marketing creates flexibility to optimize customer acquisition and builds longer term customer relationships USER EXPERIENCE & CONVERSION Enova measures and monitors website visitor usage metrics and regularly test website design strate
Slide 13: Machine Learning Models and Automation
Machine Learning Models and Automation Are Applied Extensively Across the Customer Life Cycle The Colossus™ Analytics Engine creates powerful competitive advantage ACQUISITION ML models trained on » 40+ million data points predict likelihood of © Fi acquiring a new customer Colossus” COLLECTIONS FRA
Slide 14: Proprietary Technology With Better Predictive Performance Than Traditional Credit Models
Proprietary Technology With Better Predictive Performance Than Traditional Credit Models RealView™ Credit Modeling: Performance vs Standard Scoring Predictive Model Performance (ROC Curves)" 100% 5 90% Repayments Predicted by Model T T T T T T 1 40% 50% 60% 70% 80% 90% 100% % of Population Included
Slide 15: Strong Credit Performance Through Economic Downturn
Strong Credit Performance Through Economic Downturn Enova's consistent performance, even amid recent unprecedented times, reflects our solid risk management capabilities on our world-class analytics and technology. Consumer Loans +234 eo, @ %, & F&F % % % % % % & FF % 8 & “yy ey eee SY, SH SR ‘== >
Slide 16: Demonstrated Ability to Diversify while Delivering Returns
Demonstrated Ability to Diversify while Delivering Returns ($ in Millions) Combined Receivables and Returns 1.2 $2,500 45% oN o7 NS 40% -7 N kal XN $2,000 77 S 35% ¢ N o . ge 30% ed $1,500 , o , 25% : ? ¢ 20% va $1,000 ; 15% --. ae $500 10% 5% $0 0% 2015 2016 2017 2018 2019 2020 2021 MME Short Term
Slide 17: Small Business
Small Business G enova.
Slide 18: Diverse Portfolio of Established Small Businesses
Diverse Portfolio of Established Small Businesses 138K+ 711 . a Business Owner qr Unique small business 5 Median annual clients Weighted avg. FIco® revenue Diversified Across 700+ industries Portfolio Balance by Industry ' Construction Professional, Scientific, Technical Services Retail Trade Other
Slide 19: SMB Total Addressable Market (TAM)
SMB Total Addressable Market (TAM) US Small & Medium-Sized US Commercial & Industrial Businesses Loan Portfolio (at FDIC-insured institutions only) Enova SMB Enova unique US small SMB loans businesses served under $250K CG enova. @ rave meme ie
Slide 20: High Quality Small Business Products to Close the Credit Gap
High Quality Small Business Products to Close the Credit Gap US Small Business: Faster, Easier and Stable HEADWAY CAPITAL. Hes} THE BUSINESS BACKER. ondeck ; dit (LOC Receivable Purchase Agreements Li f Credit (LOC Lines encode (LOS) (RPA) & Installment Loans Bean Heal (S in Millions) Gross Accounts
Slide 21: Consumer
Consumer G enova. @Prowltemettioral ee
Slide 22: Enova Is A Market Leading US Non-Prime Lender
Enova Is A Market Leading US Non-Prime Lender 4.9M 607 $42K 36.5% Total Consumers Weighted Average Average Personal Homeownership Served To Date FICO® Score Income HE Multi Product States B d I singe Produat states roa Not Currently Served States Diversified Across Non-Prime National Presence Consum
Slide 23: U.S. Consumer Total Addressable Market (TAM)
U.S. Consumer Total Addressable Market (TAM) US Subprime Unsecured US Near Prime Estimated Estimated CashNetUSA share NetCredit share of 2019 Subprime of 2019 Near market Prime market CG enova. @ rave meme ie
Slide 24: High Quality Consumer Products to Close the Credit Gap
High Quality Consumer Products to Close the Credit Gap CashNetUSA. © NetCredit’ Simplic Sub-Prime Single Pay Loans or Near-Prime per Advances, Installment Loans & Installment Loans & Lines of Near eeiesteesallivestt Lines of Credit Credit (S in Millions) Gross Accounts Receivable’? $1,086 $869 $941
Slide 25: Trusted Products Drive High-Rated Reviews
Trusted Products Drive High-Rated Reviews OnDeck Reviews 3,093 © Excellent CashNetUSA Reviews 19,740 ¢ Excellent NetCredit Headway Capital Reviews 5,719 © Excellent HEADWAY _ eviews 1,062 + Excellent © NetCredit” | | | &] 4 46 @ CAPITAL. || |x| F 47O Simplic é confidvel? Reptagse . The Business Back
Slide 26: Financial Performance
( / a \ @ Financial Performance \ G enova. @Prowltemettioral ee
Slide 27: History of Revenue and Profit Growth
History of Revenue and Profit Growth ($ in Millions) Gross Revenue For All Brands ”** FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 {S in Millions) - Adjusted EBITDA and Margin” $500 $400 caer 32 B% eee $300 eee $200 $100 $0 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 F
Slide 28: Demonstrated Operating Leverage
Demonstrated Operating Leverage (3 in Millions) Enova Key Metrics'”* $2,500 $2,000 $1,500 $1,000 $500 7 = |_| | |_| FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 Loans and Finance Receivables Outstanding mRevenue mO&T and G&A Expenses 1. Gross foan and finance receivables balances outstand
Slide 29: Balance Sheet Flexibility is a Source of Strength
Balance Sheet Flexibility is a Source of Strength Enova Debt Maturities? Funding Mix and Capacity’ (S in Millions) ($ in Millions) 900 $s: 800 —_ 700 | $561 | $309] $453 600 | ria on $249 500 38 0 Bee 505 wis " x $2 a $73 $225 gy 400 7 ; : 300 os vs LU lJ 2015 2016 2017 2018 2019 2020 © Q42021 100 o
Slide 30: Appendix
Appendix G enova. @irovainemecentee
Slide 31: Global Compliance Capabilities
: — Global Compliance Capabilities > ~ - . “a a : e ~ Enova has a compliance framework that includes: Focus on tone from the top to instill an ethical culture Centralized team led by experience compliance professionals: - Chief Compliance Officer reports directly to Board of Directors - Multiple CRC
Slide 32: Accounting for Receivables
Accounting for Receivables Using Fair Value Began January 1, 2020 Compliance FASB required adoption of life of loan loss accounting on January 1, 2020 for public companies with a public float of greater than $250M In May 2019, FASB included fair value accounting as an option for compliance g enova.
Slide 33: Key Changes to Financial Reporting Under Fair Value
Key Changes to Financial Reporting Under Fair Value Income Statement Balance Sheet Day1 Gain on Originatio Revenue - Change in Fair Value | I | | | | | i] | Realized | Net Revenue Net Revenue Margin % Change in I FV I Assumptio ns | l i] Higher originated Higher new customer | principal (at consiste
Slide 34: Consolidated Income Statements
Consolidated Income Statements Revenue Cost of Revenue / Change in FV Gross Profit Expenses Marketing Operations and technology General and Administrative Gain on bargain purchase” Equity method investment income Other nonoperating expense Income before Income Taxes cas Net income from continuing op
Slide 35: Consolidated Balance Sheets
Consolidated Balance Sheets $40 $69 $28 $36 $297 $165 | 562 705 780 1,063 1,242 1,965 47 49 46 55 79 78 272 271 270 269 294 315 57 67 93 152 196 305 é e 7 - ze 2 sere ns S134 sista seus sa abilities and Stockholder’s Equity : a a - - 8 - - - 736 878 987 1,198 1,189 1,668 242 282 348 377 919 1,093 1.
Slide 36: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Net Income to Adjusted EBITDA 12Mo. Ended 12Mo.Ended 12Mo.Ended 12Mo.Ended 12Mo.Ended 12 Mo. Ended dpqatliage December 31, December 31, December 31, December 31, December 31, December 31, (unaudited) 2016 © 2017 © 2018 ° 2019 ° 2020 © 2021 ° Net income .
Slide 37: Thank You
yy = ACCOUNTABLE O¢ THANK You FOR RESULTS 3 ie ZO _j= {= _ os _—=
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