Slide 1: Second Quarter 2025 Earnings Supplement
SECOND QUARTER 2025 EARNINGS SUPPLEMENT July 30, 2025 RECREATION HOME IMPROVEMENT NASDAQ: MFIN COMMERCIAL FINTECH A specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners.
Slide 2: Important Information
Important Information This presentation contains certain forward-looking statements, including statements with regard to the future performance of Medallion Financial Corp. (“MFIN” or the “Company”). Words such as “believes,” “expects,” “projects,” “anticipates” and “future” or similar expressions a
Slide 3: Company Snapshot – 2Q25
Company Snapshot – 2Q25 Primary Business Lines Other Businesses Our Differentiation Consumer Lending – Recreation Strategic Partnership Program Net Interest Margin • $1,546.3M of loans • New partnerships to grow • 8.09% on gross loans • $142.8M loan originations originations • 8.42% on net loans • 1
Slide 4: Loan Portfolio Growth and Mix Optimization
Loan Portfolio Growth and Mix Optimization (All $ amounts in millions) 6/30/24 6/30/24 3/31/25 3/31/25 6/30/25 6/30/25 6/30/25 vs. Loan Portfolio at Type of Loan % % % 6/30/24 6/30/25 Recreation(1) $1,497.4 62.8% $1,545.8 62.2% $1,546.3 62.2% +3.3% Home Improvement $773.2 32.4% $812.4 32.7% $803.5 3
Slide 5: Loan Portfolio
Loan Portfolio (1) Loan Balance ($ in millions) $2,485 $2,491 $2,486 $2,485 $2,386 $2,400 $2,216 $2,228 $2,203 $2,200 $2,157 $1,984 $2,000 $1,917 $1,856 $1,800 $1,735 $1,600 $1,569 $1,400 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 (1) Includes both loans held for investmen
Slide 6: Origination Activity
Origination Activity Loan Originations ($ in millions) $400.0 $350.0 $300.0 $250.0 $200.0 $150.0 $100.0 $50.0 $0.0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Recreation Home Improvement Commercial Other Strategic Partnership Medallion Financial Corp. Quarterly Earnings Sup
Slide 7: Origination Activity
Origination Activity Loan Originations ($ in millions) $1,100.0 $1,000.0 $49.5 $203.6 $28.2 $0.6 $900.0 $118.3 $34.9 $2.4 $14.3 $0.3 $800.0 $700.0 $392.5 $298.6 $357.4 $600.0 $500.0 $304.6 $400.0 $19.1 $0.1 $300.0 $103.1 $513.1 $526.6 $447.0 $200.0 $100.0 $229.6 $0.0 2022 2023 2024 YTD 2Q25 Recreati
Slide 8: Financial Performance
Financial Performance Net Interest Income Net Interest Income Quarterly Performance ($55.0 in millions) $53.4 ($ in millions) $52.7 $250.0 $52.0 $51.4 $49.9 $50.0 $48.8 $49.0 $202.5 $47.9 $200.0 $188.1 $46.7 $160.4 $45.0 $43.6 $43.6 $150.0 $42.0 $104.8 $40.0 $38.9 $100.0 $35.9 $35.0 $50.0 $30.0 $0.
Slide 9: Financial Performance
Financial Performance (1) (1) Net Income Net Income Quarterly Performance ($ in millions) ($ in millions) $20.0 $60.0 $55.1 $15.4 $50.0 $15.0 $14.2 $14.3 $43.8 $13.3 $13.1 $12.0 $40.0 $35.9 $11.2 $11.1 $9.8 $10.0 $10.1 $10.0 $30.0 $8.6 $7.6 $23.1 $7.1 $20.0 $5.0 $10.0 $0.0 $0.0 1Q22 2Q22 3Q22 4Q22 1
Slide 10: Driving Net Interest Income
Driving Net Interest Income Interest Income vs. Interest Expense 80.0 ($ in millions) 2Q 24 2Q 25 70.0 60.0 Interest income $70.7 $77.4 Interest expense 20.8 24.1 50.0 Interest income, net $49.9 $53.4 Net Interest Income 40.0 Interest Income 30.0 Net interest margin – gross 8.12% 8.09% Net interest
Slide 11: Net Charge-Off (NCO) Activity
Net Charge-Off (NCO) Activity 2Q 2025 YTD 2Q 2025 ($ in millions) Charge-Off Recovery NCO NCO % ($ in millions) Charge-Off Recovery NCO NCO % Recreation $16.3 $4.4 $11.9 3.3% Recreation $36.5 $8.3 $28.2 3.9% Home Improvement 5.0 1.2 3.8 1.9% Home Improvement 9.2 2.3 6.9 1.7% Commercial ⎯ ⎯ ⎯ ⎯% Comm
Slide 12: Resilience of Consumer Lending Segments
Resilience of Consumer Lending Segments Medallion Bank Consumer Loan Net Charge-offs as a Percentage of Total Consumer Portfolio 10.00% Managed profitably through the Great ◼ Added Home Improvement Prime Credit Lending Segment in 2012 Recession and returned to pre-Recession ◼ Increased average FICO
Slide 13: Performance and Shareholder Value
Performance and Shareholder Value Book value per share has exhibited steady growth, reflecting a strengthening of equity base Net Income vs Book Value per Share Net Income Book Value/Share ($ millions) $18.0 $18 $16.0 $16 $14.0 $14 $12.0 $12 $10.0 $10 $8.0 $8 $6.0 $6 $4.0 $4 $2.0 $2 $0.0 $0 1Q22 2Q2
Slide 14: Focus on Enhanced Operating Efficiency
Focus on Enhanced Operating Efficiency Quarterly Net Interest Income (NII) vs. Operating Costs(1) ($ in FY FY FY FY FY YTD ($ In 000’s) millions) 2020 2021 2022 2023 2024 2Q25 60,000 NII $110.8 $127.8 $160.4 $188.1 $202.5 $104.8 55,000 Operating 50,000 $55.7 $56.4 $72.1 $75.6 $74.4 $42.3 Costs(1) 45
Slide 15: MFIN Capital Structure
MFIN Capital Structure Equity and Borrowings ($ in millions) 800.0 $712 700.0 $619 600.0 $584 $510 $525 500.0 55% $441 60% 400.0 59% 56% 58% 52% 300.0 20% 200.0 12% 11% 17% 14% 13% 100.0 29% 29% 25% 31% 30% 29% 0.0 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 6/30/2025 Medallion Financial Borrowings
Slide 16: Dividend History
Dividend History Ex-Dividend Date Record Date Payment Date Cash Amount August 15, 2025 August 15, 2025 August 29, 2025 $0.12 May 15, 2025 May 15, 2025 May 30, 2025 $0.12 Mar 17, 2025 March 17, 2025 March 31, 2025 $0.11 Nov 15, 2024 November 15, 2024 November 27, 2024 $0.11 Aug 15, 2024 August 15, 20
Slide 17: Contact Us
Contact Us Medallion Financials Investor Relations The Equity Group Inc. InvestorRelations@medallion.com Lena Cati (212) 328-2176 lcati@theequitygroup.com (212) 836-9611 Val Ferraro vferraro@theequitygroup.com (212) 836-9633