Slide 1: 2Q 2026 Earnings Presentation
2Q 2026 Earnings Presentation August 5, 2026
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation and the accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this presentation and the accompanying oral presentation, including statements as to future performance, result
Slide 3: Performance vs. Guidance
PERFORMANCE VS. GUIDANCE Oportun exceeded the high end of each Q2 guidance metric METRIC 2Q 2026 GUIDANCE 2Q 2026 ACTUAL TOTAL REVENUE $227 - $232M $233M Above high end NCO RATE (%) 12.2% +/- 15 bps 12.0% Better than range ADJUSTED EBITDA1 $34 - $39M $49M Above high end 3 1 See Appendix for Key Defi
Slide 4: Execution is translating into stronger profitability, credit, and financial flexibility
EARNINGS OVERVIEW Execution is translating into stronger profitability, credit, and financial flexibility PROFITABILITY OPERATING DISCIPLINE FINANCIAL FLEXIBILITY $8.5M 12.0% 6.5x Q2 GAAP net income NCO Rate Debt to Equity ▪ Seventh consecutive quarter of ▪ Originations returned to growth ▪ Leverage
Slide 5: First days confirmed a differentiated franchise and a path to disciplined growth
CEO TRANSITION First 100 days confirmed a differentiated franchise and a path to disciplined growth 01 02 03 WHAT WE FOUND WHAT WE STARTED WHAT COMES NEXT ▪ 20 years of proprietary data and a ▪ Launched payment protection and ▪ Optimize risk and reward with data difficult-to-replicate relationship r
Slide 6: Strong profitability growth defined Q2
FINANCIAL HIGHLIGHTS Strong profitability growth defined Q2 FINANCIAL HIGHLIGHTS GAAP AND ADJUSTED NET INCOME1 ($M) $233M $8.5M $21M 24% 40% Total Revenue GAAP Net Adjusted Net Income Income $21 $49M 12.0% $0.42 $10 $8.5 $15 Adjusted NCO Rate1 Adjusted EPS1 $6.9 $2.3 EBITDA1 2Q25 1Q26 2Q26 GAAP Adju
Slide 7: Credit improved sequentially, with 30+ delinquency at its lowest level since 4Q21
CREDIT PERFORMANCE Credit improved sequentially, with 30+ delinquency at its lowest level since 4Q21 NCO RATE1 30+ DAY DELINQUENCY RATE1 12bps (65)bps (45)bps (45)bps 12.7% 12.0% 4.4% 4.5% 11.9% 11.0% +/-15bps 4.0% 2Q25 1Q26 2Q26 3Q26 Guidance2 2Q25 1Q26 2Q26 1 See Appendix for definition of Annuali
Slide 8: Member stability supports a disciplined credit stance
MEMBER STABILITY Member stability supports a disciplined credit stance 96% INCOME VERIFIED 100% of applicants, ~$58K median gross income of loans disbursed to U.S. bank accounts EMPLOYMENT STABILITY 5.6 years on average with the same employer 660 average Vantage score at origination1 ~97% of ending
Slide 9: Over the last year, Oportun increased unrestricted cash by $43M while reducing corporate debt by $88M
CAPITAL AND LIQUIDITY Over the last year, Oportun increased unrestricted cash by $43M while reducing corporate debt by $88M UNRESTRICTED CASH EOP ($M) CORPORATE DEBT EOP ($M) $43 $(88) $140 $223 $97 $135 2Q25 2Q26 2Q25 2Q26 DEBT TO EQUITY (LEVERAGE) COST OF DEBT (0.8)x (228)bps 7.3x 6.5x 8.6% 6.3% 2
Slide 10: Adjusted ROE reached the target range as funding, expense, and leverage improved
CORPORATE PROFITABILITY Adjusted ROE reached the target range as funding, expense, and leverage improved GAAP ROA ADJUSTED ROA1 GAAP ROE ADJUSTED ROE2 2Q26 YEAR-OVER-YEAR DRIVERS Target range 3-4% Target range 20-28% -228 bps COST OF DEBT 21% 8.6% → 6.3% 16% -55 bps 2.6% ADJUSTED OPEX RATIO 1.8% 8.5
Slide 11: FY 2026 Adjusted EBITDA and Adjusted EPS midpoint guidance reflects 13% and 16% growth
GUIDANCE FY 2026 Adjusted EBITDA and Adjusted EPS midpoint guidance reflects 13% and 16% growth Y/Y, respectively METRIC 3Q 2026E FY 2026E TOTAL REVENUE $235 - $240M $935 - $955M NCO RATE (%) 11.0% +/- 15 bps 11.7% +/- 30 bps ADJUSTED EBITDA1 $43 - $48M $160 - $175M ADJUSTED NET INCOME1 $74 - $82M A
Slide 12: Appendix
Appendix Definitions, operating detail, financial statements, and non-GAAP reconciliations
Slide 13: Key definitions
APPENDIX Key definitions • 30+ Day Delinquency Rate is the unpaid principal balance for our owned loans that are 30 or more calendar days contractually past due as of the end of the period divided by Owned Principal Balance as of such date • Adjusted EBITDA is a non-GAAP financial measure calculated
Slide 14: Key definitions (cont'd)
APPENDIX Key definitions (cont’d) • Customer Acquisition Cost (or "CAC") is calculated as sales and marketing expenses, which include the costs associated with various paid marketing channels, including direct mail, digital marketing and brand marketing and the costs associated with our telesales an
Slide 15: Q2 originations growth supported by lower-risk segments
APPENDIX Q2 originations growth supported by lower-risk segments AGGREGATE ORIGINATIONS ($M) AGGREGATE ORIGINATIONS 1% $488M +1% Y/Y $481 $488 Returned to growth after two $417 quarters of decline 2Q25 1Q26 2Q26 LOWER-RISK SEGMENTS UNSECURED RETURNING MEMBER AND SECURED PERSONAL LOANS ORIGINATIONS (
Slide 16: Q2 revenue substantially flat under tight credit posture
APPENDIX Q2 revenue substantially flat under tight credit posture TOTAL REVENUE ($M) TOTAL REVENUE (0.5)% $233M (0.5)% Y/Y Substantially flat and above the $234 $229 $233 high end of guidance 2Q25 1Q26 2Q26 NET REVENUE NET REVENUE ($M) $106M 1% +1% Y/Y A higher net decrease in fair value offset lowe
Slide 17: $49M of Q2 Adjusted EBITDA, up 56% Y/Y
APPENDIX $49M of Q2 Adjusted EBITDA, up 56% Y/Y ADJUSTED EBITDA ($M)1 56% 20% $49 $78 $31 $29 $65 2Q25 1Q26 2Q26 YTD 2025 YTD 2026 13.3% 12.8% 20.8% 13.8% 16.9% Adjusted EBITDA Margin (%)1 Adjusted EBITDA Margin (%)1 1 See Appendix for Key Definitions and non-GAAP reconciliation to the most comparab
Slide 18: Q2 Adjusted Net Income grew 40% Y/Y
APPENDIX Q2 Adjusted Net Income grew 40% Y/Y ADJUSTED NET INCOME ($M)1 40% (8)% $21 $33 $31 $15 $10 2Q25 1Q26 2Q26 YTD 2025 YTD 2026 15.9% 10.5% 20.5% 18.4% 15.6% Adjusted ROE (%)1 Adjusted ROE (%)1 18 1 See Appendix for Key Definitions and non-GAAP reconciliation to the most comparable GAAP measure
Slide 19: Key financial & operating metrics
APPENDIX Key financial & operating metrics Quarter Ended Six Months Ended June 30 Change Change 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y Aggregate Originations (Millions) $487.7 $416.9 $494.9 $511.8 $480.8 1.5% $904.7 $950.2 (4.8)% Portfolio Yield (%) 33.3% 32.1% 33.3% 33.0% 32.8% 45bps 32.7% 32.9
Slide 20: Condensed consolidated income statement
APPENDIX Condensed consolidated income statement Quarter Ended Six Months Ended June 30 Change Change ($ Millions, except per share data. Shares in Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y Interest income $219.3 $215.7 $232.4 $222.3 $218.3 0.5% $434.9 $438.5 (0.8)% Non-interest income 14
Slide 21: Condensed consolidated balance sheet
APPENDIX Condensed consolidated balance sheet Quarter Ended Change ($ Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y Cash and cash equivalents $139.6 $130.4 $105.5 $104.6 $96.8 44.2% Restricted cash 72.8 79.5 93.4 119.3 131.4 (44.6)% Total cash $212.4 $209.9 $198.9 $224.0 $228.2 (6.9)% Loans receivable at f
Slide 22: Adjusted EBITDA reconciliation
APPENDIX Adjusted EBITDA reconciliation Quarter Ended Six Months Ended June 30, Change Change ($ Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y Net income (loss) $8.5 $2.3 $3.4 $5.2 $6.9 24.1% $10.9 $16.6 (34.6)% Adjustments: Income tax expense (benefit) 7.1 1.2 3.2 9.0 3.2 119.3% 8.3 6.6 25.3
Slide 23: Adjusted net income reconciliation
APPENDIX Adjusted net income reconciliation Quarter Ended Six Months Ended June 30, Change Change ($ Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y Net income (loss) $8.5 $2.3 $3.4 $5.2 $6.9 24.1% $10.9 $16.6 (34.6)% Adjustments: Income tax expense (benefit) 7.1 1.2 3.2 9.0 3.2 119.3% 8.3 6.6
Slide 24: Adjusted operating expense and adjusted operating expense ratio reconciliation
APPENDIX Adjusted operating expense and adjusted operating expense ratio reconciliation Quarter Ended Six Months Ended June 30, Change Change ($ Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y OpEx Ratio (%) 13.7% 13.6% 12.0% 13.5% 14.2% (54)bps 13.6% 14.0% (0.4)% Total operating expense $90.0
Slide 25: Risk adjusted net interest margin reconciliation
APPENDIX Risk adjusted net interest margin reconciliation Quarter Ended Six Months Ended June 30, Change Change ($ Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y Total Revenue 233.2 228.8 247.7 238.7 234.3 (0.5)% 462.0 470.3 (1.8)% Less: Interest Expense 41.9 48.0 57.9 56.6 59.5 (29.6)% 89.9 1
Slide 26: Basic and diluted earnings per share reconciliation
APPENDIX Basic and diluted earnings per share reconciliation Quarter Ended Six Months Ended June 30 Change Change ($ Millions, except per share data. Shares in Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y Net income (loss) $8.5 $2.3 $3.4 $5.2 $6.9 24.1% $10.9 $16.6 NM Net income (loss) attri
Slide 27: Adjusted earnings per share reconciliation
APPENDIX Adjusted earnings per share reconciliation Quarter Ended Six Months Ended June 30 Change Change ($ Millions, except per share data. Shares in Millions) 2Q26 1Q26 4Q25 3Q25 2Q25 Y/Y 2026 2025 Y/Y Diluted earnings (loss) per share $0.17 $0.05 $0.07 $0.11 $0.14 21.4% $0.22 $0.35 NM Adjusted Ne
Slide 28: Net change in fair value
APPENDIX Quarter Ended Change $ Millions 2Q26 1Q26 2Q25 1Q25 Q/Q Y/Y Net change Loan Portfolio Drivers Discount rate 6.3% 6.2% 7.0% 7.7% 0.1% (0.7)% in fair value Remaining cumulative charge-offs as a % of principal balance Average life in years 12.2% 1.04 12.3% 1.06 12.0% 1.08 11.8% 1.10 (0.1)% -0.
Slide 29: Net lifetime loan loss rates by vintage
APPENDIX Net lifetime loan loss rates by vintage CUMULATIVE NET PRINCIPAL CHARGE-OFFS YEAR OF ORIGINATION 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Dollar Weighted Average Original Term for Vintage (Months) 24.2 26.3 29.0 30.0 32.0 33.3 37.8 39.2 35.6 33.7 Net Lifetime Loan Losses as % of Or
Slide 30: Forward-looking adjusted EBITDA reconciliation
APPENDIX Forward-looking adjusted EBITDA reconciliation 3Q 2026 FY 2026 ($ Millions) Low High Low High Net income $20.0 * $23.7 * $54.8 $62.9 Adjustments: Income tax expense (benefit) 6.8 8.1 18.6 21.4 Interest on corporate financing 5.7 5.7 23.5 23.5 Depreciation and amortization 8.7 8.7 35.1 35.1
Slide 31: Forward-looking adjusted net income and adjusted earnings per share reconciliation
APPENDIX Forward-looking adjusted net income and adjusted earnings per share reconciliation FY 2026 ($ Millions, except per share data. Shares in Millions) Low High Net Income $54.8 $62.9 Adjustments: Income tax expense (benefit) 18.6 21.4 Stock-based compensation expense 12.2 12.2 Other non-recurri
Slide 32: August 5, 2026
EARNINGS PRESENTATION August 5, 2026