Slide 1: Third Quarter 2025 Financial Results Conference Call
NASDAQ: NEWT Third Quarter 2025 Financial Results Conference Call October 29, 2025 Hosted and Presented by: Barry Sloane, President & CEO Frank M. DeMaria, EVP & CFO Investor Relations Bryce Rowe browe@newtekone.com (212) 273-8292 www.newtekone.com
Slide 2: Note Regarding Forward-Looking Statements
Note Regarding Forward-Looking Statements Certain statements in this presentation and made during this conference call include statements about our plans and future prospects for NewtekOne, Inc and our consolidated subsidiaries (the “Company”) and our industry that are “forward looking statements” w
Slide 3: NewtekOne, Inc. Mission Statement and Purpose
NewtekOne, Inc. Mission Statement and Purpose NewtekOne’s mission has not changed since the company was formed in 1998: To provide business and financial solutions to independent business owners in the United States. www.newtekone.com 3
Slide 4: NewtekOne Snapshot
NewtekOne Snapshot • NewtekOne is a technology oriented financial holding company regulated by the Board of Governors of the Federal Reserve owning and operating a nationally chartered digital bank that operates exclusively using online banking without physical branches. • In January 2023, NewtekOne
Slide 5: NewtekOne's Target Market
NewtekOne’s Target Market • According to the U.S. Small Business Administration (the “SBA”), there are more than 36 million independent business owners in the United States; 99% of businesses in the United States identify as small businesses. • According to the U.S. Chamber of Commerce, small busine
Slide 6: CEO 3Q Highlights
CEO 3Q Highlights • Healthy 3Q25 and YTD25 earnings and revenue growth. 3Q basic and diluted EPS of $0.68 and $0.67, respectively; YTD ‘25 basic and diluted EPS of $1.57 and $1.54, respectively. Y/Y, 3Q and YTD diluted EPS are up 49% and 22% with 3Q and YTD revenue up 19% and 16%. • “Up and to the r
Slide 7: NewtekOne 3Q25 Financial Highlights
NewtekOne 3Q25 Financial Highlights Highlights 3Q25 3Q24 Change Profitability 3Q25 Y/Y Net Income $17.4 $11.5 51% Return on 3.06% Avg. Assets1 Diluted EPS $0.67 $0.45 49% Pre-Provision ROA1,2 5.75% Book/Share $11.72 $10.07 16% Return on 20.4% Avg. Equity1 Tangible Book/Share1 $11.22 $8.93 26% Return
Slide 8: Newtek Bank, N.A. Financial Highlights
Newtek Bank, N.A. Financial Highlights Financial Performance 3Q24 4Q24 1Q25 2Q25 3Q25 Return on Average Assets 6.24 % 6.17 % 2.01 % 4.05 % 3.68 % Return on Average Equity 48.6 % 50.3 % 18.6 % 34.5 % 31.9 % Return on Avg. Common Tang. Equity 49.1 % 55.1 % 19.6 % 35.7 % 32.1 % Efficiency Ratio 39.4 %
Slide 9: Tangible Book Value per Share Growth
Tangible Book Value per Share Growth • TBV/share1 increased 6.4% Q/Q and 25.6% Y/Y. 1Note: Non-GAAP financial measure; reconciliation of non-GAAP financial measures to the most comparable GAAP measures are set forth starting on page 29. . www.newtekone.com 9
Slide 10: Deposits
Deposits • Q/Q deposit changes: business +$52 million (+17%), core consumer +$95 million (+12%), wholesale - $8 million (-13%). • We are more comfortable with Newtek Bank’s cost of deposits of 3.72% (down 51 bps Y/Y) than a peer average <2% given ease of moving deposits with a click of a mouse or sw
Slide 11: Alternative Loan Program Significantly Additive
Alternative Loan Program Significantly Additive • The ALP Program was developed in 2019 as a natural extension of NewtekOne’s SBA 7(a) lending program. Like 7(a) loans, ALP loans fully amortize over 10-25 years, are underwritten on cash flows of the borrower, and are secured by personal guarantees a
Slide 12: ALP Metrics
ALP Metrics • Principal balance of outstanding ALP Loans at 09/30/25 (includes loans off balance sheet in JVs and securitizations) of $612 million. • Non-performing ALP loans on a fair value basis totaled $5.4 million. • Weighted Average FICO Score of 727 • Weighted Average LTV at origination of 47%
Slide 13: Economics of ALP Securitizations
Economics of ALP Securitizations • NewtekOne and its joint ventures have completed three ALP securitizations since launching the ALP program in 2019 and the Company anticipates executing a fourth ALP securitization in 4Q25. • For the three completed securitizations, gross spreads and advance rates h
Slide 14: Status of Three Completed ALP Securitizations
Status of Three Completed ALP Securitizations • The first ALP securitization, 2022-1, was unwound in 3Q25 with securitization notes in the securitization being fully paid back. • ALP loan balances and securitization notes in our oldest remaining ALP securitization (2024-1) have declined by 19% and 2
Slide 15: Newtek Bank, N.A. Credit Quality Overview
Newtek Bank, N.A. Credit Quality Overview 3Q24 4Q24 1Q25 2Q25 3Q25 30 days+ past due and accuring/ 1.72% 3.45% 1.28% 2.85% 3.18% Loans HFI* NPLs/ 3.73% 3.86% 4.96% 5.40% 5.79% Loans HFI* Net charge-offs/ 1.45% 3.59% 3.13% 2.76% 2.61% Avg. loans HFI ACL/ 5.13% 5.00% 5.63% 5.78% 5.73% Loans HFI* Loans
Slide 16: SBA 7(a) Loan Portfolio at Newtek Bank, N.A.
SBA 7(a) Loan Portfolio at Newtek Bank, N.A. • Newtek Bank began originating SBA 7(a) loans in 2Q23. • The SBA 7(a) allowance for credit losses (ACL) comprises 89% of the Bank’s ACL. • SBA 7(a) ACL / SBA 7(a) loans HFI = 7.89% as of September 30, 2025. $ Mix of NBNA Loans HFI % Mix of NBNA Loans HFI
Slide 17: NSBF Loss Shrinking
NSBF Loss Shrinking NSBF is the Company’s legacy non-bank subsidiary that holds a portfolio of SBA 7(a) loans which is in wind-down. Newtek Bank began to originate and portfolio SBA 7(a) loans in 2Q23. 3Q24 4Q24 1Q25 2Q25 3Q25 Net Increase in Non Accruals $12,271 $8,882 $5,725 $4,242 $2,713 Before C
Slide 18: Operating Leverage Being Captured
Operating Leverage Being Captured • Scalability of NewtekOne’s operating Noninterest Expense model evidenced by 3Q25 operating expenses increasing just 8.5% Y/Y on growth of 40.5% in average assets. • Efficiency ratio1 declined Y/Y from 61.8% for 3Q24 to 56.3% for 3Q25. Efficiency Ratio1 1Note: Non-
Slide 19: Our Non-Bank, Non-Lending Subsidiaries
Our Non-Bank, Non-Lending Subsidiaries Payments Business • Payments processed should exceed $5 billion in 2025. • Newtek Merchant Solutions expected to contribute $16.5 million of pre-tax income in 2025. Insurance • Policies written in 2025 expected to exceed 10,000, up 34% Y/Y. • Insurance expected
Slide 20: Bolstered Capital Structure, Increased Capital
Bolstered Capital Structure, Increased Capital • Raised $30 million of CET1 capital in a transaction with Patriot Financial Partners, L.P. ("Patriot") that included Patriot exchanging $20 million of our Series A Convertible Preferred stock for Company common shares and acquiring an additional $10 mi
Slide 21: Appendix
Appendix www.newtekone.com
Slide 22: Total Loans - NewtekOne, Newtek Bank, Joint Ventures
Total Loans - NewtekOne, Newtek Bank, Joint Ventures • NewtekOne has loans on its balance sheet Loans ($000s) 3Q24 4Q24 1Q25 2Q25 3Q25 Newtek Bank - (“B/S”) from Newtek Bank and its non-bank Loans HFI $ 518,489 $ 621,651 $ 711,166 $ 767,827 $ 834,087 subsidiaries. Newtek Bank - 142,659 152,911 224,8
Slide 23: Industry-Leading Pre-Provision Net Revenue
Industry-Leading Pre-Provision Net Revenue • NewtekOne’s PPNR1, defined as the sum of net interest income and non-interest income less expenses before adjusting for provisions for credit losses, was 5.81% of average assets for 3Q25 vs. 5.93% for 3Q24. • The relative strength of NewtekOne’s earnings
Slide 24: Average Net Premium From SBA 7(a) Loan Sales
Average Net Premium From SBA 7(a) Loan Sales • For the three months ended September 30, 2025, the weighted average net premium received on the sale of guaranteed portions of SBA 7(a) loans was 10.4%. Note: Net premiums received on the sale of guaranteed portions of SBA 7(a) loans are recorded as net
Slide 25: Mechanics of ALP Securitization
Mechanics of ALP Securitization • Mechanics of an ALP securitization transaction: ◦ Unrealized gains on securitized loans are reversed. (I/S line item = net gain/(loss) on loans under FV option) ◦ Unrealized gain on retained residual is recognized based on projected cash flows. (I/S line = net gain
Slide 26: Net Interest Margin
Net Interest Margin For the Three Months Ended September 30, 2025 Average Interest Balance Inc./Exp. Average ($000s) ($000s) Yield/Cost Interest-earning balances 275,885 2,518 3.65 % Investment securities 13,015 200 6.15 % Loans 1,729,885 36,376 8.41 % Interest-earning assets 2,018,785 39,094 7.75 %
Slide 27: Public Market Comparables
Public Market Comparables (1) Source: S&P Capital IQ as of 10/28/25 (2) 2025 and 2026 ROA and EPS are based upon consensus average estimates www.newtekone.com 27
Slide 28: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations www.newtekone.com
Slide 29: NewtekOne, Inc.
NewtekOne, Inc. As of and for the three months ended (dollars and number of shares in thousands) September 30, 2025 June 30, 2025 September 30, 2024 Return on Average Equity and Average Tangible Common Equity Numerator: Net Income (GAAP) $17,429 $13,703 $11,934 Tax-adjusted amortization of intangibl
Slide 30: NewtekOne, Inc.
NewtekOne, Inc. As of and for the three months ended (dollars and number of shares in thousands) September 30, 2025 June 30, 2025 September 30, 2024 Efficiency Ratio Numerator: Non-Interest Expense (GAAP) $42,159 $42,309 $38,847 Net Interest Income (GAAP) 14,549 13,923 10,981 Non-Interest Income (GA
Slide 31: Newtek Bank, NA
Newtek Bank, NA As of and for the three months ended (dollars in thousands) September 30, 2025 June 30, 2025 September 30, 2024 Return on Average Tangible Common Equity Net Income (GAAP) $12,573 $12,267 $13,416 Tax-adjusted amortization of intangibles 29 31 33 Numerator: Adjusted net income 12,601 1
Slide 32: NewtekOne, Inc.
NewtekOne, Inc. As of and for the three months ended September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 Nonperforming Loans (NPLs) On-Balance Sheet (GAAP) 79,437 91,895 113,916 124,723 156,216 Total Loans On-Balance Sheet (GAAP)2 1,215,388 1,422,486 1,641,767 1,640,