Onemain Holdings, Inc. · NYSE:OMF
Onemain — OneMain Financial — Debt Investor Presentation (February 2026)
53 slides from Onemain's debt investor presentation, February 2026
Slide 1: ABS Investor Presentation
OneMain Financial ABS Investor Presentation NYSE: OMF | February 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 16 3 ABS Overview 25 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 ~$225B Customers Cumulative proprietary data served2 originations2 Funding breadth ~90% $11.8B Of New Customer Unencumbered and acce
Slide 10: Our customers are hardworking Americans
Our customers are hardworking Americans Customer Attributes1 Use of Loan Proceeds2 Other ~630 average FICO 14% Debt $75k to $80k annual gross income Family related consolidation 9% 39% ~10 years in the same residence 10% ~50% in the same job 5+ years Home repair 9% Employed in stable industries 19%
Slide 11: Our consumer loans address our customers' needs
Our consumer loans address our customers’ needs Unsecured loan Secured loan Direct Auto Auto Finance Additional Offerings >10-year auto age ≤10-year auto age1 Direct & Indirect Key Stats: Brightway® credit cards2 Avg. Loan Size ~$8k ~$13k ~$17k ~$22k Credit Life, Disability, Involuntary Unemployment
Slide 12: 4Q25 New Products Highlights
4Q25 New Products Highlights ($ in millions) Everyday transactions Financing at the point of purchase • Digital-first offering that rewards good credit behavior • Deep experience in secured lending, best-in-class capabilities and strong credit performance • Targeted and disciplined rollout • Discipl
Slide 13: Our balance sheet is a strength and a competitive differentiator
Our balance sheet is a strength and a competitive differentiator $3-6 billion 4.6 years $0 annual debt issuance weighted-average bond unsecured debt maturities OMFIT | ODART | Unsecured notes | Whole loan sale maturity until January 2027 Balanced AAA $11.8 billion debt mix ABS top tranche unencumber
Slide 14: Market-Leading Funding Profile
Market-Leading Funding Profile ($ in billions) Our liquidity position & funding programs stand out in the consumer lending space Funding Sources Liquidity • $7.5B in committed bank lines and sizable unpledged collateral ensure a • We rely on diverse funding sources with the following strategy: long
Slide 15: 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 16: Underwriting & Servicing
Underwriting & Servicing OneMain Financial Better Borrowing. Brighter Future.
Slide 17: 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 18: Superior credit risk management underpinned by four key pillars
Superior credit risk management underpinned by four key pillars Proprietary Scoring AI Techniques Evaluated • Diverse data sources • Gradient-boosted models • Models enhanced with third • Random forest party data • Decades of history • Logistic regression OneMain Ability-to-Pay Collateral/Verificati
Slide 19: Our models are 2x more powerful than bureau credit scores
Our models are 2x more powerful than bureau credit scores Underwriting model predictive power1 2.17x 1.88x 1.75x 1.80x 1.50x Bureau credit score 2019 2020 2021 2022 2023 Machine learning Logistic regression Traditional bureau Traditional bureau OneMain model Alternative data Cash flow data 1. Source
Slide 20: 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 21: 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 ~5,500 Locations Team members Collections Originations and ser
Slide 22: 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 23: We deliver superior credit results through the cycle
We deliver superior credit results through the cycle Quarterly credit performance since 4Q 2017 10.8% 10.1% 7.4% 6.4% 4.1% 3.6% Average loan net charge-offs 2.1% 1.3% Standard deviation OneMain dv01 dv01 KBRA2 (C&I* Loan Metrics) nonprime1 total1 Avg FICO3 ~630 668 721 684 Note: Data through Decembe
Slide 24: 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 4Q2025 earnings release ap
Slide 25: ABS Overview
ABS Overview OneMain Financial Better Borrowing. Brighter Future.
Slide 26: OneMain ABS relative value
OneMain ABS relative value Long Operating History 100+ years in business Seasoned programs with 40 issuances for ~$30B1 Seasoned Programs Consistent collateral performance Generally wider spreads, more enhancement, more excess spread vs. Card & Auto Program Liquidity Numerous dealers offer liquidity
Slide 27: Revolving structure relative value
Revolving structure relative value Amortizing Revolving • Monthly top-ups replace charge-offs, • Fixed collateral pool Flexibility to Manage prepays and matured loans,1 providing • No ability to replenish pool with higher Transactions ability to manage collateral pool quality quality collateral • Ad
Slide 28: ABS Funding
ABS Funding Funding & Liquidity/ Personal Loan ABS Auto ABS Program Collateral Conduits Program (“OMFIT”) (“ODART”) As of December 31, 2025, Significant forward liquidity 31 Personal Loan securitizations 9 Auto securitizations since 2016 OneMain had principal debt runway since 20131 • OMF Auto has h
Slide 29: Best in class investor transparency
Best in class investor transparency Investor Friendly Resources • Quick reference landing page • Pool balances • Key metrics • Tranche balances • Credit enhancement • Full monthly servicer report history (exportable through Excel) • Private Placement Memorandums • Latest ABS investor presentation •
Slide 30: Reporting & Collateral Management
Reporting & Collateral Management • Dedicated team of 7 in ABS Reporting and 3 in Treasury Risk & Collateral Management • Multi-step controls after Collateral team selects initial loan pool Step 1: Collateral Review QC by Treasury Risk 4-eye principle monthly loan reviews of all new and existing ABS
Slide 31: Secured & Unsecured Personal Loans "OMFIT" Program
Secured & Unsecured Personal Loans “OMFIT” Program
Slide 32: Consumer Loan ABS new issue supply
Consumer Loan ABS Consumer Loan ABS new issue supply (2014-2025)1 ✓ We created Consumer Loan ABS asset class in 2013 35 84 78 ✓ Asset class developed into a large, diverse 30 72 class over past ~10 years with a liquid primary 25 66 60 and secondary supply 54 Issuance ($bn) 20 48 # of Deals ✓ Issuer
Slide 33: 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 2025-1 Rating Agency Class D 32.8% ‘BBB-’ Curve 30.0% 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 39
Slide 34: 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 (~42% secured collat
Slide 35: OMFIT 2025-1 overview
OMFIT 2025-1 overview Capital Structure(1) • OMFIT 2025-1 represents the 23rd transaction from the OMFIT shelf since the program’s inception in 2014 • 11th OneMain deal utilizing a horizontal residual interest for US Risk Retention and compliant with EU/UK Risk Retention requirements(2) • The Notes
Slide 36: Direct Auto Loans "ODART" Program
Direct Auto Loans “ODART” Program
Slide 37: 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 60% Free & Clear Car hie
Slide 38: 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 39: 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% ODART 2025-1 14.0% Rating Agency Class D CNL Curve 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 0 3 6 9 12 15 18 21 24 27 30 33 36 3
Slide 40: OneMain Auto vs other auto issuers
OneMain Auto vs other auto issuers S&P Index: annualized net loss rates1,2,3 10.0% 9.7% 8.0% 6.3% 6.0% 4.0% 4.0% 2.0% 0.0% Nov-15 Nov-16 Nov-17 Nov-18 Nov-19 Nov-20 Nov-21 Nov-22 Nov-23 Nov-24 Nov-25 Subprime OneMain Direct Auto Foursight (Runoff Portfolio) 1. Source: S&P U.S Auto Loan ABS Tracker:
Slide 41: FCRT (Legacy Program)
FCRT (Legacy Program) • Foursight was founded in 2012 by former management of Franklin Capital as a subsidiary of Jefferies Financial Group (formerly Leucadia National Corporation) • In April 2024 OneMain completed its acquisition of Foursight, rebranding the platform as OneMain Auto, in combination
Slide 42: ODART 2025-1 overview
ODART 2025-1 overview Capital Structure2 • ODART 2025-1 represents the ninth transaction from the ODART shelf since the program’s inception in 2016 • 9th OneMain deal utilizing a horizontal residual interest for US Risk Retention and compliant with EU Risk Retention requirements1 Class A $650,160,00
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 2.8% 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) 7.0% 14.0% 6.0% 12.0% 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) 7.0% 4.0% 3.5% 6.0% 3.0% 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 46 49 52
Slide 50: FCRT Key Performance Metrics
FCRT Key Performance Metrics Cumulative Net Loss Cumulative Gross Loss 12.0% 25.0% 10.0% 20.0% 8.0% 15.0% 6.0% 10.0% 4.0% 2.0% 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 2022-2 2023-1 2023-2 2024-1 20
Slide 51: 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 52: 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 53: Thank you
Quarterly Results Thank you Please reach out with any questions Asset-Backed Securities Contacts David Schulz Ryan Gamble Treasurer Assistant Treasurer David.Schulz@omf.com Ryan.Gamble@omf.com (212) 359-2426 (212) 359-2429
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