Slide 1: The Responsible Way to Pay
®sezzle The Responsible Way to Pay First Quarter 2026 Earnings Presentation May 6, 2026
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: 1Q26 Snapshot
1Q26 Snapshot 1Q26 Results FY2026 Updated Guidance > Feb Guid. May Guidance GMV Growth (YoY) 37.35% en aaieance ¥ ) Total Revenue Growth 25%—30% 50%—35% Total Revenue Growth (YoY) 29.2% Adjusted Net Income* $1700 S180.0 Net Income $51.3M 32.4% YoY 40.2% YoY Net Income Margin 57.9% Adjusted Net Incom
Slide 4: Strategic Pivot to Subscribers, Yielding Higher-Value Engagement
Strategic Pivot to Subscribers, Yielding Higher-Value Engagement 44K 9 >55x 37% More Orders from Subscribers Top 10% Anywhere Subscribers In-store Orders as % of Net New Subscribers in 1Q26 vs. Non-Subscribers on Average 90-days Frequency! Total Anywhere Orders? 3 a _ MODS: ! Prioritize Subscription
Slide 5: Accelerating Growth with Efficient Acquisition & Stronger Retention
Accelerating Growth with Efficient Acquisition & Stronger Retention <6 months Marketing Payback Period Marketing Spend ($ in millions) ! $8.8 $9.3 1Q25 2Q25 3Q25 4Q25 1Q26 $1.2 1 ™ Marketing Spend @ sezzle | 1026 Presentation Acquisition Digital Ads - In-App Incentives - Checkout Cross-Sell Subscrib
Slide 6: Delivering More for Consumers
Delivering More for Consumers Unlimited 5G Pay with Sezzle at Checkout @sezzle © besit cow a © cunt cas om Payment options tts $LI949 © Buy Now Pay Later with @ sezzle amma © $1796 92 cert From Serzle 5 payments $20.00 today ou Due Ks Change plan | a 2-920 @ | © SE 20% 20% © 20% «20% + 20% - . Pay-i
Slide 7: AI-Driven Efficiency at Scale
Al-Driven Efficiency at Scale From underwriting to support, proprietary Al is driving operating leverage while enhancing the consumer experience (Consumer-Facing Al Features ) (Internal Al Initiatives Al Support Chatbot Al Shopping Assistant (beta) Resolving 60—70% of Driving stronger chats without
Slide 8: We're Building an All-in-One Services Platform
We're Building an All-in-One Services Platform Shopping & Engagement Financial Tools [ Financial Tools @ Shopping & Engagement Features Product Roadmap [ Post-Purchase Split Program [ Deposit Accounts e@ Debit & Secured Credit Cards e@ Enhanced Long-Term Lending! \/ Limited launch in May 2026 @ Sezz
Slide 9: YoY Engagement Metrics
YoY Engagement Metrics Monthly On-Demand & Subscribers (MODS)! +229k Quarterly Purchase Frequency (Average) +1.0x YoY YoY Active? Consumers Repeat Usage as a % of Total Orders (Cumulative) 9, oe I sso) 15.6% || ns I ox | “80 Bos YoY YoY Unique Merchants® Shopped at by Consumers Number of Transaction
Slide 10: 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 7.1K 65x 6.6x a a 2Q25 3Q25 4Q25 1Q26 2,971,000 3,049,000 - | a 2Q25 3Q25 4Q25 3,105,000 1026 474,000 463,000 _ [ | | 2Q25 3Q25 4Q25 489,000 1Q26 +0.5x Q
Slide 11: YoY Progression Overview
YoY Progression Overview 1Q25 Total Revenue $104.9M Net Income $36.2M Adjusted Net Income! $35.3M Adjusted EBITDA Margin? 49.0% Total Revenue Less Transaction Related Costs? as a % of Total Revenue 70.4% Non-Transaction Related Operating Expenses* ° as a % of Total Revenue 25.6% 1Q26 $135.5M $51.3M
Slide 12: Gross Merchandise Volume (GMV) & Total Revenue
Gross Merchandise Volume (GMV) & Total Revenue @ sezzle | 1026 Presentation Gross Merchandise Volume (GMV) +37.3% YoY soorg 2047.3 SUEZ 10.4 _ oH Oo | a 1025 2025 3025 4025 1026 = GMV ¢ in millions) Total Revenue (10.6% ] { 11.2% | (11.2% | GAS I $116.8 $129.9 $135.5 1025 2025 3Q25 4Q25 1026 mmm Tot
Slide 13: As a % of GMV
As a % of GMV $53.5 $. 46.3 $31.0 $38.4 on C1 $36.2 1Q25 2Q25 3Q25 4Q25 1Q26 Transaction — srrscion Rind Corin ier) Related Costs’ As a % of Total Revenue " 45.8% = $46.3 % of GMV = a LJ LJ = 1Q25 2Q25 3Q25 4Q25 1Q26 mmm Transaction Related Costs ($ in millions) % of Total Revenue 1Transaction Relat
Slide 14: Transaction Related Costs
Transaction Related Costs’ Transaction Expense Provision for Credit Losses Net Interest Expense $32.2 $23.7 ga 819.0 $18.5 e209 $15.3 $14.2 /: 8 i: a LW LE $2.9 $3.5 $3.9 $3.7 $3.0 lll TS} 1025 2025. 3Q25)«4Q25—s 1026 1025-2025. 3Q25.)- 4Q25—s 1026 1025-2025. 3Q25) 4025-1026 lm Transaction Expense (
Slide 15: Total Revenue Less Transaction Related Costs
Total Revenue Less Transaction Related Costs Total Revenue Less Transaction Related Costs is a non-GAAP financial measure. For a re @sezzle | 1026 Presentation As a % of GMV $100.3 [1 = = CJ L| 1Q25 2Q25 3Q25 4Q25 1Q26 mmm Total Revenue Less Transaction Related Costs ($ in millions) % of GMV As a %
Slide 16: % of Total Revenue
% of Total Revenue $31.6 $32.0 N O N -T fa Nn S a ctio Nn 1Q25 2Q25 3Q25 4Q25 1Q26 Corporate Strategic Project Costs ($ in millions) R e | 2g t e d O p era ti nN g $0.0M $0.4M $1.3M $1.3M $0.3M $26.9 $27.7 lms Non-Transaction Related Operating Expenses ($ in millions) % of Total Revenue Expenses’ Co
Slide 17: Net Income, Adjusted Net Income, & Adjusted EBITDA
Net Income, Adjusted Net Income, Net Income $51.3 $42.7 in $27.6 a 1Q25 2025 3025 4Q25 1926 mmm Net Income ($ in millions) % of Total Revenue Adjusted Net Income to income tax exp @sezzle | 1026 Presentation P financial measure. For a reconciliation of Net Inco’ ased com; Adjusted Net Income! Se 25.
Slide 18: Select Balance Sheet & Cash Flow Metrics
Select Balance Sheet & Cash Flow Metrics Balance Sheet ($ in Thousands) Mar 31, 2025 Mar 31, 2026 Key Assets > Cash and cash equivalents! $88,893 $120,448 Restricted cash $31,976 $26,938 Total cash $120,869 $147,386 Notes receivable, net $146,628 $262,967 Key Liabilities Merchant accounts payable $6
Slide 19: 2026 Guidance
2026 Guidance 2026 Guidance 2026 Guidance 2026 Updated cuisense (November 2025) (February 2026) (May 2026) Total Revenue Growth Not Provided 25%—30% S0%—35% Adjusted Net Income! Not Provided $170.0M $180.0M \Bite’shae Per $4.35 $4.70 $5.10 and Adjusted Net Income per Diluted Share are non-GAAP finan
Slide 20: 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) March 31, 2026 December 31,2025 September 30, 2025 June 30, 2025 March 31, 2025 Operating income $ 69,036 $
Slide 21: 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) March 31, 2026 December 31,2025 September 30, 2025 June 30, 2025 March 31, 2025 Operating expenses $ 66,503 $ 74,622 $ 81,2
Slide 22: 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 (in $ thousands) March 31, 2026 December 31, 2025 _ September 30, 2025 June 30, 2025 March 31, 2025 Net income $ 51,303 $ 42,691 $ 26,671 $ 27,604 $ 36,
Slide 23: Appendix IV: Restated Quarterly Consolidated Statements of Cash Flows
Appendix IV: Restated Quarterly Consolidated Statements of Cash Flows For the three months ended March 31, 2025 {in $ thousands) ‘As previously reported Restatement impact ‘As restated Discount on notes receivable $ - $ (1,224) $ (1,224) Notes receivable 5.154 (5,134) Ss Net cash provided from opera
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.)
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 allocation of resources. Therefore, we
Slide 26: The Responsible Way to Pay
®sezzle The Responsible Way to Pay