Slide 1: The Responsible Way to Pay
®sezzle The Responsible Way to Pay Second Quarter 2025 Earnings Presentation August 7, 2025
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation (the “Presentation") contains summary information about the activities of Sezzle as of the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete and
Slide 3: 2Q25 Snapshot
2Q25 Snapshot 2Q25 Results FY2025 Guidance GMV Growth (YoY) 74.2% >) Guidance YoY % >) Total Revenue Growth (YoY) 76.4% Adjusted Net Income® $120.0m 85.8% Adjusted Net Income 5 Net Income $27.6m Per Diluted Share? $3.25 80.6% Net I Margi 28.0% srncome Me \_ Adjusted EBITDA $170.0-$175.0M 92-98% Adju
Slide 4: Investing for the Future
Investing for the Future Retention Acquisition Strategically deploying marketing spend to Targeted offers acquire new consumers, with a current with the goal of driving repeat usage. six-month payback period target for each cohort. S In-app Exclusive Offers Sezzle Giveaways Collpons & Mercneni@ ars
Slide 5: Consumer Engagement
Consumer Engagement Driven by Strategic Acquisition and Retention Higher marketing spend leading to strong consumer activity Ne 62% YoY Growth in MODS# YoY Growth in Monthly Sessions® 112% > in . YoY Growth in 52% M vor Growin in 138% Revenue Generating lonthly Active Users? fo Users! by month \ \ »
Slide 6: 748,000 Monthly On-Demand & Subscribers
748,000 Monthly On-Demand & Subscribers (MODS?) Engagement Fueling Growth Premium (subscription) anywhere Anywhere (subscription) Access to 350+ premium merchants through Affiliate @sezzle @=p On-Demand Pay Later anywhere Visa is accepted, with a one-time Pay Later anywhere Visa is accepted includin
Slide 7: YoY Engagement Metrics
YoY Engagement Metrics Monthly On-Demand & Subscribers (MODS!) Quarterly Purchase Frequency (Average) 2024" 208,000 YoY 2Q24 5,063,000 +286k +1.3x YoY YoY Active? Consumers Repeat Usage as a % of Total Orders (Cumulative) +9.5% + os I 20000 | 99.5% | on I wn, |*20 BPS YoY YoY Unique Merchants’ Shopp
Slide 8: Last Twelve Months (LTM) QoQ Engagement Metrics
Last Twelve Months (LTM) QoQ Engagement Metrics Quarterly Purchase Frequency (Average) Active! Consumers Unique Merchants? Shopped at by Consumers 6.1K 6.1K : 7 L L 3Q24 4Q24 1025 2Q25 2,734,000 2,667,000 2725.000 3Q24 4Q24 1025 2,860,000 2Q25 346,000 274,000 elise | 3Q24 4Q24 1025 412,000 2Q25 +0.0
Slide 9: YoY Progression Overview
YoY Progression Overview @ sezzle | 2Q25 Presentation Total Revenue Net Income Adjusted Net Income! Adjusted EBITDA Margin? Total Revenue Less Transaction Related Costs? as a % of Total Revenue Non-Transaction Related OpEx* as a % of Total Revenue 2Q24 $56.0M $29.7M $12.7M 52.9% 57.6% 32.9% 2Q25 $98
Slide 10: Gross Merchandise Volume (GMV) & Total Revenue
Gross Merchandise Volume (GMV) & Total Revenue @ sezzle | 2Q25 Presentation Gross Merchandise Volume (GMV) +74,2% YoY $855.4 $808.7 $927.0 = a LJ a 2Q24 3Q24 4Q24 1Q25 2Q25 = GMV ($ in millions) Total Revenue 13.0% - $98.2 $104.9 $98.7 = C1 LJ a a 2Q24 3Q24 4Q24 1Q25 2Q25 mmm Total Revenue ($ in mil
Slide 11: Transaction Related Costs
Transaction Related Costs As a % of GMV $43.9 $23.7 4.5% 2Q24 3Q24 4Q24 1Q25 2Q25 mmm Transaction Related Costs ($ in millions) % of GMV As a % of Total Revenue $43.9 2Q24 3Q24 4Q24 1Q25 2Q25 mmm Transaction Related Costs ($ in millions) % of Total Revenue ‘Transaction Related Costs is @ non-GAAP fi
Slide 12: Transaction Related Costs
Transaction Related Costs’ Transaction Expense Provision for Credit Losses Net Interest Expense $24.4 $20.6 $161 $15.3 g $15.4 ; 14.2 b go7 8128 ean $12.8 LJ L U | LI = = = = = 2024 3024 4024 «1925-2025 2024 3024 «4024 «1025 2025 2024 3024 4024 1925 2025 mmm Transaction Expense ($ in millions) % of
Slide 13: As a % of GMV
As a % of GMV Total Revenue 0 rot cus storing Sinton Less Transaction ™ Related Costs As a % of Total Revenue $54. ” $60.3 — 2Q24 3Q24 4Q24 1Q25 2Q25 mmm Total Revenue Less Transaction Related Costs ($ in millions) % of Total Revenue ‘Total Revenue Less Transaction Related Costs is a non-GAAP financ
Slide 14: Controlled Underwriting to Optimize Growth & Profitability
Controlled Underwriting to Optimize Growth & Profitability Approval rates increased in the 2H24 for both ..While the outstanding balance for repeat and new consumers... delinquent consumers remained in-line Approval Rates Average Consumer Balances Repeat Consumer ———New Consumer Average Non-Delinque
Slide 15: Non-Transaction Related Operating Expenses
% of Total Revenue $26.9 $26.9 $27.7 $21.0 2Q24 3Q24 4Q24 1Q25 2Q25 N O n -T r PS) n S a ctl fe) n — Non Transaction Relates Operating Expenses ($ in millions) Re | a ted O pe rati a) g Total Revenue Less Transaction Related Costs vs. Non-Transaction Related OpEx Expenses’ $7.8M YoY Increase in Mark
Slide 16: Net Income & Adjusted Net Income
Net Income & Adjusted Net Income Adjusted Net Income! Net Income Adjustments $36.2 $11 $0.7 $29.7 $25.4 $27.6 cr o $08) ($5.2) 3Q24. 4Q24. 1025. 2025 2024 3024. 4Q24.- 1025-2025 EEE Adjusted Net Income ($ in millions) 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 mmm Net Income ($ in millions) % of Total Revenue =
Slide 17: Net Income & Adjusted EBITDA
Net Income & Adjusted EBITDA’ Adjust Net | EBITDA is a non-GAAP fi me and Adjusted Net Incom @sezzle| 2025 Presentation | measure. For a reconciliation Adjusted EBITDA, ;ee Appendix Ill for reconciliation. Adjusted prior Net Income & Adjusted Net Income? $36.2 $35.3 2227 $25.4 $26.0 $27.6 gong 2024
Slide 18: Select Balance Sheet & Cash Flow Metrics
@ sezzle | 2Q25 Presentation Select Balance Sheet & Cash Flow Metrics Balance Sheet Audited Unaudited Unaudited $ in Thousands Dec 31, 2024 Mar 31, 2025 Jun 30, 2025 Key Assets >) Cash and cash equivalents! $73,185 $88,893 $88,943 Restricted cash $25,125 $31,976 $31,026 Total cash $98,310 $120,869 $
Slide 19: Outlook
Outlook 2024 Actual 2025 Guidance \ Total Revenue 70% Growth 60% — 65% Total Revenue Less Transaction Related Costs! 55.7% 60% — 65% as a % of Total Revenue Effective Income Tax Rate (16.6%)? ~25% (excluding discrete items) Adjusted Net Income $64.6M $120.0M Adjusted Net Income Per Diluted Share® 4
Slide 20: Appendices
@sezzle| 2025 Presentation Appendices 20
Slide 21: Appendix I: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix |: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Operating Income to Total Revenue Less Transaction Related Costs For the three months ended (in $ thousands) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Operating income $ 36,086 $
Slide 22: Appendix II: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix Il: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Operating Expenses to Transaction Related Costs For the three months ended (in $ thousands) June 30, 2025 March 31, 2025 December 31, 2024 _ September 30, 2024 June 30, 2024 Operating expenses $ 62,616 $ 55,0177 $ 6
Slide 23: Appendix III: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix Ill: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Net Income to Adjusted Net Income! For the three months ended For the twelve months ended (in $ thousands; except per share amounts) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 D
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement our operating results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), we present the following non-GAAP financial measures: Total revenue less transaction related costs; transaction related costs; non-trans
Slide 25: Non-GAAP Financial Measures (Cont.)
Non-GAAP Financial Measures (Cont.) Additionally, we have included these non-GAAP measures because they are key measures used by our management to evaluate our operating performance, guide future operating plans, and make strategic decisions, including those relating to operating expenses and the al
Slide 26: The Responsible Way to Pay
®sezzle The Responsible Way to Pay