Lendingclub Corporation · NYSE:LC
Lendingclub — Investor Day (November 2025)
141 slides from Lendingclub's investor day presentation, Nov 5, 2025
Slide 1: Investor Day 2025
Investor Day 2025 NOVEMBER 5, 2025
Slide 2: Agenda
Agenda 9:05-9:25 WELCOME 10:50-11:10 TECHNOLOGY SCOTT SANBORN, CHIEF EXECUTIVE OFFICER LUKASZ STROZEK, CHIEF TECHNOLOGY OFFICER 9:25-9:45 CREDIT 11:10-11:30 OUR MODEL KIRAN AWARE, HEAD OF DREW LABENNE, CHIEF FINANCIAL OFFICER CREDIT STRATEGY & PRICING 11:30-11:55 MARKETPLACE INVESTOR PANEL 9:45-10:0
Slide 3: Disclaimer
Disclaimer Some of the statements in this presentation, including statements regarding our competitive advantages, loan and financial performance, business growth opportunities and outlook, and demand for our products, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,”
Slide 4: A New Model for Banking
A New Model for Banking SCOTT SANBORN CHIEF EXECUTIVE OFFICER
Slide 5: We are radically different today.
We are radically different today. 5
Slide 6: A Clear, Compelling, Winning Strategy
A Clear, Compelling, Winning Strategy 1 Acquire with lending 2 Engage with intention 3 Deepen their relationship 6
Slide 7: Our Core Advantages
Our Core Advantages 1 2 3 An Unmatched Products that Experiences that Underwriting Attract Members Keep Members Advantage for Life Coming Back SUPERIOR CREDIT COMPELLING PRODUCTS ENGAGING EXPERIENCES 4 5 Engineered Best of Both Worlds: for Innovation Digital Marketplace Bank POWERFUL TECHNOLOGY WINN
Slide 8: The math is simple. The path is clear.
The math is simple. The path is clear. 8
Slide 9: Understanding Our Members
Understanding Our Members1 25% The Motivated Middle U.S. Census (Units) 20% LendingClub 2025 Issuance ($) 15% 10% 5% 0% <$15K $15-25K $25-35K $35-50K $50-75K $75-100K $100-125K $125-150K $150-200K >$200K Gross Household Income 9
Slide 10: Who We Serve: The Motivated Middle
Who We Serve: The Motivated Middle Tens of millions DEMOGRAPHIC AVERAGES3 of consumers who are: U.S. Adult Population LendingClub Members 32% of the U.S. adult ▪ Goal oriented ▪ Digitally capable FICO 717 719 population2 ▪ Value conscious INCOME $75K $121K ▪ Multi-relationship 10
Slide 11: High Income, High Credit Usage
The Motivated Middle: BORROWING5 High Income, Category Percentage of LendingClub LendingClub Members vs. U.S. High Credit Usage Members Adult Population Credit Card 99% +29% Private Label Credit Card 77% +42% 45% Our target market Auto (non-LendingClub) 62% +36% holds 45% of U.S. non-mortgage Mortga
Slide 12: Banking is no longer a place you go – it’s something you do.
Banking is no longer a place you go – it’s something you do. 12
Slide 13: Consumers Prioritize Mobile Banking
Consumers Prioritize Mobile Banking 50% DRIVERS OF BANK CHOICE6 +67% 45% 40% Useful online banking app -29% 35% 30% Branch-centric factors 25% 20% 15% 2019 2020 2021 2022 2023 2024 13
Slide 14: Traditional Banks No Longer Serve the Motivated Middle
Traditional Banks No Longer Serve the Motivated Middle CREDIT CARDS VS. LENDINGCLUB PERSONAL LOANS7 SAVINGS ACCOUNT APY8 23% LendingClub members LendingClub members EARN SAVE over 16% 700bps 420X more on their savings vs. on interest vs. leading national banks credit cards 4.20% 0.01% 0.01% 0.01% Av
Slide 15: Average Conversion Rate on Leading Aggregator
AVERAGE CONVERSION RATE ON LEADING AGGREGATOR9 ~50% Competitive Set LendingClub 15
Slide 16: Delivering Experiences That Keep Members Coming Back
Delivering Experiences That Keep Members Coming Back <5min Time to complete ~90% Of issued loans a personal loan are fully automated application 81 83% Net Promoter Score Of our members want (vs. 30-44 for to do more with us traditional banks)10 16
Slide 17: A Real Member: Raymond
A Real Member July 1, 2015 December 30, 2019 March 8, 2023 Medical Expense Credit Card Refi Auto Refi Raymond Phoenix, AZ Amount $12,000 Amount $20,000 Amount $29,529 FICO 691 FICO 796 FICO 841 Borrow Better, Move Forward, Income $141,000 Income $160,000 Income $180,000 Borrow Better Again DTI 21% D
Slide 18: Brand Loyalty Shows Up in Their Payment Priority
Brand Loyalty Shows Up in Their Payment Priority Consumer Loan Payment Hierarchy11 Auto Mortgage Personal Loan 64% Borrowers are 64% more likely to pay their personal loan before Credit Card their credit card Student Loan 18
Slide 19: Our strategy is working.
Our strategy is working. 19
Slide 20: An Unmatched Underwriting Advantage
An Unmatched Underwriting Advantage KIRAN AWARE HEAD OF CREDIT STRATEGY & PRICING
Slide 21: Lending is a data problem.
Lending is a data problem. £8 LendingClub
Slide 22: Over 100 million loan applications
100 1 Over $1.6 trillion in loan demand 150 150+ billion data cells across 000 600 evaluated since 2007 000 payment, bureau, cash flow, 000 000 000 behavior, fraud 000 Over 100 million loan applications 000 000 decisioned 22
Slide 23: We Outperform Across the Entire Lifecycle
We Outperform Across the Entire Lifecycle UNDERWRITING FRAUD COLLECTIONS ~40% Lower delinquency <3bps Fraud loss rate, 25% Recovery rate rates relative to our among the best in outperformance vs. competitive set 1 the industry2 competitive set3 23
Slide 24: Hyper-Customized Machine-Learning Underwriting
Hyper-Customized Machine-Learning Underwriting >60 Tailored production models in active use Custom decision strategies >240 across customer segment, loan type and size, channel, and more >2,700 Custom attributes 24
Slide 25: Traditional Models Don’t Capture the Full Picture
Traditional Models Don’t Capture the Full Picture Borrower A Borrower B FICO 719 718 Income $130K $130K DTI 22% 20% Card Balance $14K $15K 25
Slide 26: Deeper Insights Result in Smarter Decisions
Deeper Insights Result in Smarter Decisions $25 Borrower A We See… Debt Consolidator Traditional Borrower A models see a $20 ✓ A high-quality borrower who point in time wants to improve Card Balance ($K) ✓ Scores high on our model $15 ✓ Approve with lower pricing $10 Borrower B Borrower B ❌ A riskie
Slide 27: Outperforming FICO with Advanced Underwriting
Outperforming FICO with Advanced Underwriting LENDINGCLUB UNDERWRITING VS. FICO LendingClub’s Proprietary Risk Score 12X FICO Projected Default Rate Able to accurately Able to identify identify high risk superior quality behavior borrowers and offer them better pricing LendingClub Model’s Discerning
Slide 28: Superior Credit Model Unlocks Greater Growth
Superior Credit Model Unlocks Greater Growth LENDINGCLUB UNDERWRITING VS. FICO LendingClub FICO 2.4X more approvals 2.4X Cumulative Default Rate More than 2.4X borrowers are approved when using LendingClub’s proprietary model versus FICO5 % of Total Application (Ranked from Lower Risk to Higher Risk
Slide 29: Beyond the Models: Test & Adapt to Win
Beyond the Models: Test & Adapt to Win TEST & ITERATE RAPIDLY ADAPT APPLY EXPERIENCE 200+ Active tests 250 Credit changes annually 300+ Collective years of team experience, 500+ 630 allowing us to anticipate beyond the models Weekly experiments Credit changes through inflationary environment 29
Slide 30: Over 5 Years of Outperformance Across Credit Segments
Over 5 Years of Outperformance Across Credit Segments LENDINGCLUB VS. COMPETITIVE SET: 30-day+ Delinquencies & Hardships at Month on Book 9 by Quarterly Vintage6 LendingClub Competitive Set FICO 660-719 FICO 720-779 FICO 780-850 7% 7% 7% 6% 47% 6% 6% 5% 4.2% 5% 5% 4% 4% 38% 4% 3% 3% 2.2% 3% 37% 1.6%
Slide 31: Federal Reserve Bank of Philadelphia on loan rating system
“We find that LendingClub’s loan rating system is superior to traditional measures of credit risk when predicting the likelihood of default…” – Federal Reserve Bank of Philadelphia, November 20237 31
Slide 32: AI Powered Fraud Prevention: Leading Protection & Speed
AI Powered Fraud Prevention: Leading Protection & Speed <3bps Device identity Identity Bank patterns <1 sec Email LendingClub’s fraud loss Login rate since 2020 – among behavior the industry’s best Geolocation Card usage 32
Slide 33: AI Powered Fraud Prevention: Leading Protection & Speed
AI Powered Fraud Prevention: Leading Protection & Speed <3bps Device identity Login Behavior Identity Bank patterns Multiple logins from the <1 same deviceEmail fingerprint or correlated IP subnet, LendingClub’s fraud loss Login sec rate since 2020 – among behavior flagging potential the industry’s
Slide 34: AI Powered Fraud Prevention: Leading Protection & Speed
AI Powered Fraud Prevention: Leading Protection & Speed <3bps Device identity Geolocation Identity Bank We detect a Texas patterns home address but a <1 login from Florida,sec Email LendingClub’s fraud loss Login rate since 2020 – among triggering enhanced behavior the industry’s best verification G
Slide 35: AI Powered Fraud Prevention: Leading Protection & Speed
AI Powered Fraud Prevention: Leading Protection & Speed <3bps Device identity Email Identity Bank Detect new and patterns <1 suspicious email patterns through domain age, sec Email LendingClub’s fraud loss Login rate since 2020 – among usage history, and digital behavior the industry’s best activity
Slide 36: AI Powered Fraud Prevention: Leading Protection & Speed
AI Powered Fraud Prevention: Leading Protection & Speed <3bps Device identity Identity Bank patterns <1 sec Email LendingClub’s fraud loss Login rate since 2020 – among behavior the industry’s best Geolocation Card usage 36
Slide 37: Smarter Collections Delivering Measurable Results
Smarter Collections Delivering Measurable Results Proprietary Customer Centric Leading Early Detection Engagement Recovery ▪ Proprietary behavior score ▪ Omnichannel outreach ▪ Diversified post-charge-off strategy ▪ Smarter segmentation ▪ Self-service tools ▪ Empathetic interventions 10% Outperforma
Slide 38: Data Driven. Tech Enabled. Artificial + Human Intelligence.
Data Driven. Tech Enabled. Artificial + Human Intelligence. 38
Slide 39: Products that Attract Members for Life
Products that Attract Members for Life STEVE MATTICS CHIEF LENDING OFFICER
Slide 40: Where smart borrowers borrow better
Where smart borrowers borrow better Turning smarter decisions into a growth engine 40
Slide 41: Smart Borrowing to Move Forward
Smart Borrowing to Move Forward Serving every major lending need for the Motivated Middle 41
Slide 42: An Embedded Growth Engine
Our Products Attract Lifelong Members An Embedded Each Growth Engine successful Borrow Better → loan leads Move Forward → to the next Borrow Better Again 42
Slide 43: Debt Consolidation Is How We Scaled Our Core Business
PERSONAL LOANS Debt Consolidation Is How We Scaled Our Core Business 43
Slide 44: $1.2T Opportunity → Proven Smart Borrowing Entry Point
$1.2T Opportunity → Proven Smart Borrowing Entry Point $1.2T ✓ Higher satisfaction U.S. Credit Card Debt1 82% ✓ Lower losses ✓ Repeat smart 23% Of personal loan borrowers come to us borrowing for debt consolidation3 Average Credit Card APR2 44
Slide 45: Delivering Instant, Measurable Value to Every Borrower
Delivering Instant, Measurable Value to Every Borrower CREDIT CARDS VS. LENDINGCLUB PERSONAL LOAN4 23% 700 Borrower savings bps 16% “Not only did you help me wipe Interest savings away credit card debt, you’ve vs. credit cards consolidated all of my cards into one fixed, low payment 35 pts Average c
Slide 46: Our Digital Advantage: Faster, Simpler, Lower Cost
Our Digital Advantage: Faster, Simpler, Lower Cost Faster Simpler Lower Cost ✓ Apply in less ✓ Clear, mobile-first ✓ Fully digital than 5 minutes design – easy to application – no understand, no branch, no paper ✓ Instant offer hidden fees ✓ AI-assisted ✓ ~90% of issued ✓ Real-time status applicatio
Slide 47: We Offer an Even More Compelling Repeat Experience
We Offer an Even More Compelling Repeat Experience ✓ Pre-filled “you-know-me” 88% experience ✓ Access to members-only products like TopUp to of repeat borrowers easily consolidate new debt come back to us directly7 ✓ Improved offers ~50% 3.7loans Average number of loans Of our annual personal for re
Slide 48: We’re Building Off Already Strong YoY Growth
We’re Building Off Already Strong YoY Growth QUARTERLY ORIGINATIONS GROWTH 2024 VS. 2025 ($B) +37% +32% $2,622 +21% $2,391 $1,989 $1,913 $1,813 $1,646 2024 2025 2024 2025 2024 2025 Q1 Q2 Q3 48
Slide 49: Driving Growth: The Financial Power of Funnel Efficiency
Driving Growth: The Financial Power of Funnel Efficiency Multi- Application Offer Creditor Verification Issuance Servicing product 49
Slide 50: Driving Growth: The Financial Power of Funnel Efficiency
Driving Growth: The Financial Power of Funnel Efficiency Multi- Application Offer Creditor Verification Issuance Servicing product EXAMPLE: AI-Assisted Document Verification AI processing reducing doc verification to just seconds 9K Incremental loans opportunity9 50
Slide 51: Driving Growth: Channel Expansion
Driving Growth: Channel Expansion LENDINGCLUB LENDINGCLUB ACTIVATED MARKETING SPEND MARKETING CHANNELS VS. COMPETITORS10 AT PRESENT Partnerships GROWTH LEVER Expand Direct Mail Marketing Paid Search Channels Paid Social Online Video Display Peer 1 Peer 2 LendingClub 51
Slide 52: Driving Growth: Channel Expansion
Driving Growth: Channel Expansion LENDINGCLUB LENDINGCLUB ACTIVATED MARKETING SPEND MARKETING CHANNELS VS. COMPETITORS MEDIUM TERM ~$2B Partnerships GROWTH LEVER Expand Direct Mail Marketing Paid Search Target medium term Channels Paid Social incremental, annualized issuance resulting from Online Vi
Slide 53: Driving Growth: Product Innovation
Driving Growth: Product Innovation EXAMPLE: Lower Friction, Higher Value Through TopUp 20% 93% Higher response rate vs. Customer repeat invitation to apply satisfaction rate11 ~$1B Current annualized issuance run rate 53
Slide 54: Personal Loans: Outsized Growth Within a Proven Core
Personal Loans: Outsized Growth Within a Proven Core TOTAL ANNUAL ORIGINATIONS ($B) GROWTH LEVERS $5-$8 Funnel Efficiency Streamlined applications, increased automation, AI assisted flows Channel Expansion Scaled performance marketing and $10 Core Personal Loans new distribution channels Product Inn
Slide 55: Auto Refinance: A Natural Extension of Our Lending Advantage
AUTO REFINANCE A Natural Extension of Our Lending Advantage 55
Slide 56: Auto Refinance: Proven Consumer Value, Massive TAM
Auto Refinance: Proven Consumer Value, Massive TAM OPPORTUNITY STRUCTURAL INEFFICIENCY A Compelling Market Dealer Markup $460B Dealer Markup Up to 250bps Dealer markup Total Addressable Market12 Bank APR 56
Slide 57: Auto Refinance: Immediate Savings, Lifelong Members
Auto Refinance: Immediate Savings, Lifelong Members Auto Refinance Delivers That Value Translates Adding More Fuel to Meaningful Value to a Desire to Do More Our Member Flywheel $2,400 59% Our Embedded Growth Engine Borrow Better → Average lifetime savings Of our auto refinance Move Forward → for me
Slide 58: B2B2C Lending for Life’s Important Choices
MAJOR PURCHASE FINANCE B2B2C Lending for Life’s Important Choices 58
Slide 59: Smart Borrowing for Life’s Important Choices
Smart Borrowing for Life’s Important Choices Embedded point of ~$200B sale financing for: ▪ Elective medical ▪ Elective dental ▪ Fertility Total Addressable Market14 ▪ Education / tutoring ▪ Select large ticket 59
Slide 60: Smart Borrowing for Life’s Important Choices
Smart Borrowing for Life’s Important Choices For Consumers Embedded point of ✓ Fast, digital approvals ✓ Affordable payments sale financing for: ✓ Transparent pricing ✓ Trusted brand ▪ Elective medical ▪ Elective dental For Providers ▪ Fertility ✓ More approvals ✓ Reliable funding ▪ Education / tuto
Slide 61: Leveraging Our Unmatched Underwriting Advantage
CASE STUDY LendingClub vs. Competitor Leveraging 77% Our Unmatched ✓ Lower Payment Underwriting ✓ Higher Approval Advantage Of offers were won Rates by LendingClub 61
Slide 62: Seamless Digital Experience for Consumers and Providers
Seamless Digital Experience for Consumers and Providers For Consumers ✓ Apply via mobile ✓ Fast decisioning ✓ Payment certainty Stevenson, Jim Arguello, Jules For Providers Castro, Ellen Montgomery, Jill ✓ Real-time application status Fell, Erwin Sansome, Rick ✓ Analytic suite to support their busin
Slide 63: Accelerating Momentum in Major Purchase Finance
Accelerating Momentum in Major Purchase Finance Scaled Scaling Scaling ~$1B ELECTIVE ELECTIVE EDUCATION / DENTAL MEDICAL TUTORING Launching Launching Next Q4 2025 Exit Run Rate OPHTHALMOLOGY / SELECT WELLNESS LARGE TICKET 63
Slide 64: Home Improvement: Our Next Major Scalable Adjacency
HOME IMPROVEMENT FINANCING Home Improvement: Our Next Major Scalable Adjacency 64
Slide 65: Applying Our Model in a New, High-Value Market
Applying Our Model in a New, High-Value Market ~$500B U.S. Annual Home Improvement Spend15 Current Capabilities ✓ Industry leading underwriting Coming Soon ✓ Vertical-specific technology and capabilities ✓ Large-ticket personal loans ✓ Home ▪ Fragmented market improvement ▪ Capital constrained lende
Slide 66: Jumpstarting Our Entry
Jumpstarting Acquired New key foundational strategic Our Entry technology partnership 66
Slide 67: Doubling Originations: Today vs. Medium Term
TOTAL ANNUAL $1 $18-$22 ORIGINATIONS ($B) $2-$3 Secured (Auto & SBA) $5-$8 Major Purchase Finance Doubling (including Home Improvement) Originations: Today vs. $10 Core Personal Loans Medium Term Current Total Originations Medium Term Annual Run Rate Target 67
Slide 68: A Massive $2.5T Opportunity
Debt Consolidation proved the model $2.5T A Massive Opportunity16 Major Purchase Financing proves it travels Amplified by Our Embedded Growth Engine LendingClub is where Borrow Better → Smart borrowers Home Improvement Move Forward → is our next Borrow Better Again borrow better scalable adjacency 6
Slide 69: Experiences that Keep Members Coming Back
Experiences that Keep Members Coming Back MARK ELLIOT CHIEF CUSTOMER OFFICER
Slide 70: The Challenge…
The Challenge… Installment loans are episodic by nature ▪ Autopay ▪ Fixed payment date Borrowers return in months ▪ Fixed payment amount 70
Slide 71: Engagement Matters
Engagement Matters ✓ Convenience ✓ More Issuance ✓ Insights ✓ Lower Cost Engaged ✓ Value Members ✓ Better Credit 71
Slide 72: Repeat Borrowers Drive Compelling Lifetime Value
Repeat Borrowers Drive Compelling Lifetime Value Single Loan 1 ▪ Lower marketing costs Two Loans 2.6x ▪ Better credit performance Multiple Loans 6.5x Indexed Lifetime Value Per Member1 72
Slide 73: Mobile App: The Foundation for Engagement
Mobile App: The Foundation for Engagement % BORROWERS LOGGING IN MONTHLY2 42% 27% 50% Increase in borrower monthly login rate August 2023 August 2025 73
Slide 74: Mobile App: Purpose-Built for Our Members
Mobile App: Purpose-Built for Our Members3 I thought Chase had the One of the best financial best and most seamless apps that I have ever app until I tried this one. used! Kudos. 4.8 4.6 74
Slide 75: Delivering Revenue & Experience Benefits
Delivering Revenue & Experience Benefits $ ISSUANCE DIRECTLY VIA MOBILE APP $363M ▪ Make a partial payment 20% ▪ Add joint depositor X% ▪ Explore hardship plans Decline in service calls from digitally- ▪ Update beneficiaries active members $66M Q1-Q3 2024 Q1-Q3 2025 75
Slide 76: Products Designed to Drive Value and Engagement
Products Designed to Drive Value and Engagement DebtIQTM LevelUp Savings LevelUp Checking Next-gen debt monitoring Award-winning account designed Designed from the ground up and management to encourage ongoing savings specifically for our borrowers 4.20% LevelUp APY4 2% cash back for 3.20% on-time l
Slide 77: DebtIQ Offering Debt Transparency
DebtIQTM Offering Debt Transparency DebtIQ 65% Active DebtIQ users year over year growth provides our members with unprecedented transparency 50% Increase in login rate for borrowers using DebtIQ and insight into their debt >20% Of repeat loans from DebtIQ users 77
Slide 78: Engagement Driver: LevelUp Savings
Engagement Driver: LevelUp Savings 13% Of LevelUp Savings accounts are coming from our borrowers 2/3 Of borrowers are getting the LevelUp Savings Rate LevelUp Savings 3X rewards positive Personal Loan members with savings behavior a LevelUp Savings account log with a higher APY in three times as oft
Slide 79: Engagement Driver: LevelUp Checking
Engagement Driver: LevelUp Checking Launched June 2025 7X Increase in daily checking account “[The personal loan openings since launch benefit is] partly what makes 60% LendingClub’s Of new checking accounts opened by current and new feature so former borrowers novel. Nobody else is doing it.” 8% An
Slide 80: LevelUp Checking: Value for Members and LendingClub
LevelUp Checking: Value for Members and LendingClub $200 Average annualized cash back LevelUp delivered to borrowers5 Checking is designed to >400% engage borrowers beyond their loan Increase in loan payments from a LendingClub deposit account since launch 80
Slide 81: LevelUp Checking: A Foundation for Lifetime Lending
LevelUp Checking: A Foundation for Lifetime Lending 84% “If I was looking for another personal loan at this point, [2% cash back] would definitely sway me towards Customers surveyed LendingClub.” who are more likely to consider LendingClub given LevelUp Checking’s “If we’re comparing apples to apple
Slide 82: The Power of Multi-Product Engagement
The Power of Multi-Product Engagement PERSONAL LOAN 93% 3.25 Personal Loan + LevelUp Checking + Digital login rate DebtIQ Logins per week August 2025 82
Slide 83: Being There for Each Borrowing Need
Being There for Each Borrowing Need 83
Slide 84: Our Engagement Model is Advancing Rapidly
Our Engagement Model is Advancing Rapidly ▪ Building on proven success driving lifelong lending relationships with our loyal members ▪ Custom-built app experience for the Motivated Middle ▪ Products and experiences designed to deliver value and drive engagement 84
Slide 85: Questions & Answers
Questions Please raise your & Answers hand so we can pass you a microphone 10 minutes on information presented to this point 85
Slide 86: Break
AFTER THE BREAK TECHNOLOGY LUKASZ STROZEK, CHIEF TECHNOLOGY OFFICER OUR MODEL DREW LABENNE, CHIEF FINANCIAL OFFICER Break MARKETPLACE INVESTOR PANEL CLARKE ROBERTS, GM OF MARKETPLACE LUNCH FINANCIALS DREW LABENNE, CHIEF FINANCIAL OFFICER Questions & Answers CLOSE SCOTT SANBORN, CHIEF EXECUTIVE OFFIC
Slide 87: Engineered for Innovation
Engineered for Innovation LUKASZ STROZEK CHIEF TECHNOLOGY OFFICER
Slide 88: Technology-First Since Our Founding
Technology-First Since Our Founding Over 500 team Distributed teams 46 patents members dedicated enable a 24-hour secured to innovation development cycle 88
Slide 89: We Own Our Full Experiential Technology Stack
We Own Our Full Experiential Technology Stack 89
Slide 90: Why It Matters
Why It Matters Differentiated Experience Tailored experience vs. generic off-the-shelf features Unique Lifecycle Solutions Products and services that together solve our members' problems Rapid Deployment Accelerate speed-to-market for new products and services Embedded Experiences for Partners Low-f
Slide 91: Rapid Decisioning at Massive Scale
Rapid Decisioning at Massive Scale 36 Distinct APIs integrated into 240M We process over 240 million our decisioning system transactions annually1 <1sec Sub-one-second >1/day Strategy changes latency implemented by Credit Team2 91
Slide 92: Modular, Extensible, and Scalable
Modular, Extensible, and Scalable Cloud-Based Scales to 100x today’s volume Narmi Mobile App Infrastructure Extensible Platform Tally Enhanced DebtIQ Functionality Enables successful and rapid technology acquisitions Cushion AI for Financial Insights Flexible Integration An edge with partners Mosaic
Slide 93: Engineered for Efficiency: Powered by AI
Engineered for Efficiency: Powered by AI 26% Reduction in loan 60+ 90% AI use cases developed Developers actively operating costs3 in the last five months using AI Copilot 55% AI-driven reduction 74% AI-driven increase in in turnaround time4 after-call efficiency5 93
Slide 94: The Power of Our Tech Platform
DEMO The Power of Our Tech Platform 94
Slide 95: Founded in technology, engineered for innovation.
Founded in technology, engineered for innovation. 95
Slide 96: Best of Both Worlds: Digital Marketplace Bank
Best of Both Worlds: Digital Marketplace Bank DREW LABENNE CHIEF FINANCIAL OFFICER
Slide 97: Winning with a digital marketplace bank model
Winning A powerful with a digital combination of a high-yielding asset marketplace and a technology- forward bank bank model 97
Slide 98: Marketplace & Bank Work Together to Optimize Results
Marketplace & Bank Work Together to Optimize Results MARKETPLACE BANK BALANCE SHEET Capital-light growth engine Growing resilient revenue stream Market- Growth & Balance place Earnings Sheet Target: Higher growth and returns compared to typical banks with greater financial resilience than pure marke
Slide 99: Success Measured by Two Key Metrics
Success Measured by Two Key Metrics ORIGINATIONS NET ASSET YIELD 99
Slide 100: Key Metric 1: Originations
Key Metric 1: Originations MAJOR DRIVERS ✓ Large Addressable Market (including new verticals) ORIGINATIONS ✓ Scaling Marketing ✓ Product & Funnel Innovation ✓ Lifetime Lending 100
Slide 101: Optimizing Originations to Drive Net Interest and Marketplace Income
Optimizing Originations to Drive Both Net Interest Income and Marketplace Non-Interest Income Balance Sheet Total Assets Resilient Net Interest Net Interest (retained Margin Income recurring originations) HELD revenue Originations Marketplace SOLD Sold Loans Day-1 Marketplace Capital-light Revenue (
Slide 102: Key Metric 2: Net Asset Yield
Key Metric 2: Net Asset Yield 23% Borrower Savings 16% Acquisition, Servicing, and Credit Costs NET ASSET YIELD ~9.5% Avg. Credit Avg. LC Net Asset Card APR1 PL APR2 Yield2 102
Slide 103: LendingClub Asset Yields Near Top of Industry
LendingClub Asset Yields Near Top of Industry Spread to risk-free benchmark rate 3 Annualized Net Asset Yield4 Credit Cards 5.9% 6.9% 10% to 11% LendingClub Personal Loans 5.9% ~9.5% HELOC 2.9% 3.9% 6.5% to 7.5% Prime Auto Loans 2.4% 3.4% 6% to 7% Prime Private Student Loans 1.3% 3.3% 5% to 7% First
Slide 104: Optimizing Economics of Unsecured Consumer Lending
Optimizing 16% APR ~(1.5%) Economics Acquisition/Servicing Industry-leading acquisition and servicing costs of Unsecured ~(5%) Years of ~40% credit Consumer Annualized Net Credit Losses outperformance relative to competitive set6 Lending5 Coupon (Annualized rates based on a Best-in-class 1.5 year we
Slide 105: Bank Balance Sheet Allows Us to Capture More Economics
Bank Balance Sheet Allows Us to Capture More Economics 3X We earn nearly three ~3.5% times more by holding Balance Sheet our loans vs. selling Funding Cost7 ~9.5% Value Retained by Net Annualized Asset Yield LendingClub8 Requires capital, liquidity ~6.0% (deposits), and time to realize the earnings
Slide 106: Having a Marketplace Makes Us a Better Bank
Having a Marketplace Makes Us a Better Bank EXPANDS SCALABLE CREDIT APPETITE FUNDING SOURCE Higher origination volumes and Unconstrained from capital and marketing efficiency possible through liquidity requirements of a single varying risk appetites from loan buyers bank balance sheet CREATES MORE C
Slide 107: Being a Bank Makes Us a Better Marketplace
Being a Bank Makes Us a Better Marketplace A TRUSTED ALIGNED COUNTERPARTY INCENTIVES Loan investors have peace of As the largest holder of our own mind that we operate within a loans, we’re invested in delivering strong regulatory framework strong, stable, risk-adjusted returns LOW COST TESTING & OF
Slide 108: Marketplace Investor Panel
Marketplace Investor Panel 108
Slide 109: Marketplace Investor Panel Speakers
Clarke Matt Jon Ivan Roberts Cammarota Denfeld Zinn LendingClub Liberty Bank BlackRock Blue Owl GM of Marketplace EVP and Head of CFA - Managing Head of Retail Lending Director and Alternative Credit Head of US ABS, MODERATOR Global Fixed Income
Slide 110: Lunch
We’ll begin Lunch again in 35 minutes 110
Slide 111: Where the Model Can Take Us
Where the Model Can Take Us DREW LABENNE CHIEF FINANCIAL OFFICER
Slide 112: Unlocking Power of Marketplace Bank Model
TOTAL BANK ASSETS TBV PER SHARE $11.95 $11.0B 14% Unlocking CAGR Power of 4X Marketplace $6.50 Bank Model Since Bank Acquisition in Q1 2021 $2.7B 1Q’21 3Q’25 1Q’21 3Q’25 Tangible Book Value per Common Share (TBV per Share) is a non-GAAP financial measure calculated by dividing tangible common equity
Slide 113: Multiple Levers to Continue Improving Returns
Multiple Levers to Continue Improving Returns BALANCE SHEET MARKETPLACE OPERATING GROWTH EXPANSION LEVERAGE Driving continued While driving ongoing With investment in balance sheet and margin marketplace margin strategic growth growth with organic capital improvement initiatives 113
Slide 114: Doubling Originations: Today vs. Medium Term
Doubling Originations: Today vs. Medium Term TOTAL ANNUAL $1 $18-$22 ORIGINATIONS ($B) $2-$3 INGREDIENTS FOR SUCCESS Secured (Auto & SBA) ✓ Constructive macroeconomic $5-$8 environment, with stable consumer employment and inflation Major Purchase Finance $13 (including Home ✓ Continued improvement i
Slide 115: Balance Sheet: Today vs. Medium Term
Balance Sheet: Today vs. Medium Term TOTAL BANK ASSETS ($B) NET INTEREST MARGIN ~$20.0 +6.5% INGREDIENTS FOR SUCCESS ✓ Stable interest rate +$9.0 6.2% environment near the neutral rate of 3% ✓ Achieve origination production targets $11.0 ✓ Retain $10B to $12B in loans and securities annually +$8.3 5
Slide 116: Marketplace: Today vs. Medium Term
Marketplace: Today vs. Medium Term MARKETPLACE QUARTERLY MARKETPLACE REVENUE MARGIN LOAN SALES ($B) Recent low conditions $3.0 ▪ Peak inflation and rapid Fed funds rate increase $2.8 ▪ Inverted yield curve 7.0% 6.0% Current conditions $2.5 ▪ Declining interest rates 5.5% ▪ Strong U.S. consumer $2.0
Slide 117: Expenses: Operating Leverage with Investments in Growth
Expenses: Operating Leverage with Investments in Growth EFFICIENCY RATIO 75% 73% INGREDIENTS FOR SUCCESS 70% 71% ✓ Continued originations and revenue growth 68% 65% 66% ✓ Variable expenses increase with originations 66% growth 62% ✓ Fixed cost base to scale and grow significantly 60% 61% slower than
Slide 118: Simplifying Our Financials
Simplifying Our Financials Aligning on Fair Value Option Makes Sense for a Marketplace Bank Cumulative Timing of Earnings Recognition 1 Benefits of CECL vs. FVO Fair Value Option 1. Better aligns timing of revenue Fair Value recognition with timing of losses Option 2. Creates consistency of marketpl
Slide 119: Return on Tangible Common Equity (ROTCE) Growth
Return on Tangible Common Equity (ROTCE) Growth 1-2% 1-2% ~18-20% ~18-20% 3-4% Operating Leverage Marketplace Originations Growth & Sales Price Improvement 12-13% 12-13% Balance Sheet Growth & NIM Expansion Recent Performance2 Medium Term Target Return on Tangible Common Equity (ROTCE) is a non-GAAP
Slide 120: Originations & ROTCE: Beyond 2025
Originations & ROTCE: Beyond 2025 NEAR TERM MEDIUM TERM Build on our Achieve sustainable, position of strength responsible growth 20% to 30% Annual Originations Growth 13-15% 18-20% ROTCE ROTCE 120
Slide 121: Why Invest Now?
Why Invest Now? LendingClub
Slide 122: Track Record of Delivering and Maintaining Profitability
Track Record of Delivering and Maintaining Profitability TANGIBLE BOOK VALUE PER SHARE LENDINGCLUB $11.95 ▪ TBV per Share has grown at a 14% CAGR since 2021, PEER 13 PEER 23 14% significantly outpacing our CAGR publicly-traded competitors $8.08 - 4% 11% CAGR ▪ Top banks in the U.S. averaged CAGR $6.
Slide 123: Significant Discount to Peers
Significant Discount to Peers S&P Global Estimates FY26 Consensus ✓ Industry-leading credit as of October 31, 2025 Revenue Multiple P/TBV FY26 P/E Consensus performance ✓ Industry-leading 1.7x 1.3x 11.4x acquisition efficiency ✓ Industry-leading profitability Peer 1 7.9x 4.7x 48.8x LendingClub repre
Slide 124: $100M Stock Repurchase & Acquisition Program
$100M Stock Repurchase & Acquisition Program ✓ Strong growth in originations and earnings provide high-level of internal capital generation ✓ Current excess capital position will simultaneously support announced program and growth objectives ✓ Valuation represents opportunity to deploy capital at at
Slide 125: Questions & Answers
Questions Please raise your hand so we can pass & Answers you a microphone 125
Slide 126: Closing Comments
Closing Comments SCOTT SANBORN CHIEF EXECUTIVE OFFICER
Slide 127: We are radically different today.
We are radically different today. 127
Slide 128: A Clear, Compelling, Winning Strategy
A Clear, Compelling, Winning Strategy 1 Acquire with lending 2 Engage with intention 3 Deepen their relationship 128
Slide 129: Our Core Advantages
Our Core Advantages 1 2 3 An Unmatched Products that Experiences that Underwriting Attract Members Keep Members Advantage for Life Coming Back SUPERIOR CREDIT COMPELLING PRODUCTS ENGAGING EXPERIENCES 4 5 Engineered Best of Both Worlds: for Innovation Digital Marketplace Bank POWERFUL TECHNOLOGY WINN
Slide 130: The math is simple. The path is clear.
The math is simple. The path is clear. 130
Slide 131: LendingClub
i LendingClub »
Slide 132: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Tangible Book Value Per Common Share1 In thousands, except share and per share data. 1Q'21 3Q'25 Tangible Common Equity: GAAP Common Equity $ 733,135 $ 1,462,213 Less: Goodwill (75,717) (75,717) Less: Customer Relationship Intangible Assets (25,2
Slide 133: Footnotes
Footnotes A New Model for Banking 10. LendingClub internal data as of September 30, 2025. NPS measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues. 1. LendingClub 2025 Issuance; Census Source: https:/
Slide 134: Footnotes
Footnotes An Unmatched Underwriting Advantage (continued) 10. LendingClub recovery rate at MOB24 compared to dv01 Unsecured Consumer Lending benchmark from 2019-2023 charge-off vintages, performance month as 5. LendingClub application data from Q1-Q3’23 that consists of borrowers who had of August 3
Slide 135: Footnotes
Footnotes Products that Attract Members for Life (continued) 14. Industry estimates and LendingClub internal data. 7. Rate across LendingClub’s unsecured lending businesses as of Q3 2025. 15. Joint Center for Housing Studies of Harvard University, 2025. 8. Average based on total number of loans issu
Slide 136: Footnotes
Footnotes Engineered for Innovation 3. Benchmark rates as of 10/31/2025 for the following: Credit Cards (Fed Funds rate), LC Personal Loans (2-year treasury), HELOC (2-year treasury), Prime Auto Loans (3-year treasury), Prime Private Student Loans (5-year treasury), First Lien 1. Based on 2024 produ
Slide 137: Footnotes
Footnotes Where the Model Can Take Us 1. Cumulative Timing of Earnings Recognition reflects LendingClub internal estimates. Estimates are subject to change based on, among other things, portfolio performance and market conditions. 2. Recent performance reflects ROTCE of 11.8% in 2Q 2025 and 13.2% in
Slide 138: Investor Day Speakers
Investor Day Speakers Appointed LendingClub CEO in 2016, Scott is reimagining what a bank can be by building our business model around a simple belief: when our members win, we win. Since 2007, LendingClub has helped millions of Americans keep more of what they earn and earn more on what they save.
Slide 139: Investor Day Speakers
Investor Day Speakers As Senior Vice President and Head of Credit, Kiran Aware leads LendingClub’s efforts to balance risk and opportunity, enhancing the company’s competitive edge in the consumer lending market. He is responsible for developing data-driven credit strategies and innovative solutions
Slide 140: Investor Day Speakers
Investor Day Speakers As Chief Customer Officer, Mark oversees LendingClub’s brand, communications, and banking teams, driving a clear, consistent, and compelling end-to-end brand narrative and engaging, mobile-first member experiences. Mark has more than 20 years of experience in marketing, brandin
Slide 141: Investor Day Speakers
Investor Day Speakers As Senior Vice President and General Manager of Marketplace, Clarke Roberts leads the growth and evolution of the marketplace business at LendingClub, combining strategic vision with operational excellence to deliver scalable digital lending solutions. He is responsible for end