Onemain Holdings, Inc. · NYSE:OMF

Onemain — Springleaf Holdings — Merger or Acquisition (March 2015)

10 slides from Onemain's merger presentation, Mar 3, 2015

  1. Slide 1: Springleaf Announces Acquisition of OneMain Financial

    Springleaf Announces Acquisition of OneMain Financial Investor Presentation March 3, 2015

  2. Slide 2: Important Information

    Important Information The following pages are part of a presentation by Springleaf Holdings, Inc. (the "Company") in connection with reporting a proposed acquisition and are intended to be viewed as part of that presentation. No representation is made that the information in these pages is complete.

  3. Slide 3: A Compelling Strategic Opportunity

    A Compelling Strategic Opportunity Springleaf Financial announces a definitive agreement to acquire OneMain Financial from Citi in a $12.0 billion transaction  Springleaf to acquire 100% of OneMain equity for $4.25 billion in cash – Transaction fully funded with cash and available Springleaf lines

  4. Slide 4: Transaction Summary

    Transaction Summary Purchase Price  $4.25 billion Consideration  100% cash Valuation  Valuation represents a multiple of 7.7x, before cost savings1 Financing  Transaction fully funded with cash ($3.3 billion) and Springleaf lines ($1.0 billion)  Estimated run‐rate cost savings of ~$300 million;

  5. Slide 5: Significant Market Opportunity

    Significant Market Opportunity  Market is huge and fragmented; consumer borrowing needs continue to grow  Americans disenfranchised by traditional lenders  200+ year combined history built on personal and local service with timely decisioning Our Customer’s Borrowing Needs Our Target Customer Bas

  6. Slide 6: 88% of U.S. Resides within 25 miles of a Branch

    88% of U.S. Resides within 25 miles of a Branch The Premier Lender1 ~2.5 million current customers 1.6 million loans originated in 2014 10+ million former customers A Digital Leader 70+% of our new customer applications begin online 40+% of our new customer originations sourced online LEGEND “Loans

  7. Slide 7: Powerful Financial Combination

    Powerful Financial Combination  Combined company estimated FY 2017 Core net income of $800 ‐ $900 million1  $14.0 billion of combined receivables with after‐tax ROA of 5.6%2,3  Benefits of scale including run‐rate cost savings will add to already robust returns  Estimated run‐rate cost savings o

  8. Slide 8: LEAF/OneMain - A Compelling Combination

    LEAF/OneMain ‐ A Compelling Combination Acquisition of OneMain creates the premier personal finance company 1 Growth Strategy  Expand product capabilities including direct auto finance  Leverage Springleaf’s multi‐year track record of receivables growth 2 Digital Strategy  Best in class analytics

  9. Slide 9: Appendix

    Appendix 9

  10. Slide 10: Reconciliation – Push-Down Accounting to Historical / Pretax Core Earnings

    Reconciliation – Push‐Down Accounting to Historical / Pretax Core Earnings (unaudited, in thousands) 3Q14 2Q14 3Q13 1 1 Push‐Down Accounting Pretax Income (Loss) Attributable to Springleaf $661,072 $117,143 ($123,292) 2 Finance Charges (10,856) (34,248) (51,635) 3 Finance Receivables Held for Sale O

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