Slide 1: Second Quarter 2025 Financial Results Conference Call
NASDAQ: NEWT Second Quarter 2025 Financial Results Conference Call July 28, 2025 Hosted and Presented by: Barry Sloane, CEO & President Frank M. DeMaria, CFO, NewtekOne, Inc. M. Scott Price, CFO, Newtek Bank, N.A. 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 provides business and financial solutions to its target market of over 33 million independent business owners in the United States. • According to the U.S. Chamber of Commerce, small businesses employ nearly half of the American workforce and
Slide 4: 2Q25 Financial and Operational Successes
2Q25 Financial and Operational Successes • Growth in Business Deposits at the Bank • Cost of Funds at the Bank Declined Dramatically and Forecasted to Continue to Come Down • Losses at Newtek Small Business Finance (“NSBF”) Continue to Shrink • Alternative Loan Program (“ALP”) Creating Value for New
Slide 5: CEO 2Q Highlights
CEO 2Q Highlights • 2Q25 earnings. Basic and diluted EPS of $0.53 and $0.52, respectively. 1H25 basic and diluted EPS of $0.89 and $0.87, respectively, are above the mid-point of our 1H25 guidance range of $0.78-$0.92/share • 2025 guidance range of $2.10-$2.50/share unchanged. The range’s mid-point
Slide 6: NewtekOne 2025 Annual Forecast
NewtekOne 2025 Annual Forecast Annual Full Year View Actual Forecast (millions) 2024 Midpoint 2025 Net Interest Income $40.3 $67.1 Loan Loss Provision $26.2 $50.1 Non-Interest Income $217.3 $237.9 Non-Interest Expense $162.7 $173.1 Income Taxes $17.8 $19.8 Net Income $50.9 $62.1 Net Income to Common
Slide 7: NewtekOne 2Q25 Financial Highlights
NewtekOne 2Q25 Financial Highlights Highlights 2Q25 2Q24 Change Profitability 2Q25 Y/Y Net Income $13.3 $10.5 27% Return on 2.50% Avg. Assets1 Diluted EPS $0.52 $0.43 21% Pre-Provision ROA1,2 5.25% Book/Share $11.11 $9.84 13% Return on 17.4% Avg. Equity1 Tangible Book/Share1 $10.55 $8.68 22% Return
Slide 8: Newtek Bank, N.A. Financial Highlights
Newtek Bank, N.A. Financial Highlights Financial Performance 2Q24 3Q24 4Q24 1Q25 2Q25 Return on Average Assets 6.41 % 6.24 % 6.17 % 2.01 % 3.94 % Return on Average Equity 48.5 % 48.5 % 50.2 % 18.6 % 34.5 % Return on Avg. Common Tang. Equity 49.0 % 49.1 % 50.7 % 19.6 % 35.7 % Efficiency Ratio 44.0 %
Slide 9: Tangible Book Value per Share Growth
Tangible Book Value per Share Growth • TBV/share1 increased 3.7% Q/Q and 21.5% 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 24. www.newtekone.com 9
Slide 10: Total Loans - NewtekOne, Newtek Bank, Joint Ventures
Total Loans - NewtekOne, Newtek Bank, Joint Ventures • NewtekOne has loans on its balance sheet Loans ($000s) 2Q24 3Q24 4Q24 1Q25 2Q25 Newtek Bank - (“B/S”) from Newtek Bank and its non-bank Loans HFI $ 451,829 $ 518,489 $ 621,651 $ 711,166 $ 767,827 subsidiaries. Newtek Bank - 111,852 142,659 152,9
Slide 11: ALP Securitization
ALP Securitization • NewtekOne’s subsidiary NALP Holdings completed a securitization of ALP loans in April. • Because the transaction qualified for off-balance sheet treatment, on-balance sheet ALP loans declined from $294.5 million for 1Q25 to $138.1 million in 2Q25. • To finance the transaction, t
Slide 12: Credit Quality
Credit Quality • More than 85% of Newtek Bank’s HFI loan portfolio is less than three years old. The portfolio of unguaranteed portions of SBA 7(a) loans, in particular, which tends to run with higher nonaccruals and to produce higher net charge-offs (which is offset by higher interest rates on the
Slide 13: NSBF Headwind Subsiding
NSBF Headwind Subsiding 2Q24 3Q24 4Q24 1Q25 2Q25 NSBF Loss $(6,250) $(10,791) $(10,723) $(4,954) $(3,772) Net Increase in Non Accruals $15,863 $12,271 $8,882 $5,725 $4,242 Before Charge Off % of Portfolio Aged 28% 17% 8% —% —% < 24 Months Accruing Portfolio $337,942 $311,073 $281,519 $257,443 $235,9
Slide 14: Frank M. DeMaria, CFO
Frank M. DeMaria, CFO www.newtekone.com
Slide 15: 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. • SBA 7(a) unguaranteed portfolio comprises 61% of loans HFI at Newtek Bank vs. 0% for 1Q23. • The SBA 7(a) allowance for credit losses comprises 92% of the Bank’s ACL. • SBA 7(a) ACL / SBA 7(a) loan
Slide 16: Deposits
Deposits • Q/Q deposit changes: business +$50 million (+19%), core consumer +$14 million (+2%), wholesale $16 million (+33%). • Newtek Bank’s cost of deposits of 3.71% (down 29 bps Q/Q and 76 bps Y/Y) is more comfortable to us than peer average <2% given ease of moving deposits with a click of a mou
Slide 17: 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 5.25% for 2Q25 vs. 5.33% for 2Q24. • The relative strength of NewtekOne’s earnings stream is a functi
Slide 18: Operating Leverage Being Captured
Operating Leverage Being Captured • Scalability of NewtekOne’s operating Noninterest Expense model evidenced by 2Q25 operating expenses increasing just 4.3% Y/Y on growth of 37.4% in average assets. • Efficiency ratio1 declined Y/Y from 66.3% for 2Q24 to 60.3% for 2Q25. Efficiency Ratio1 1Note: Non-
Slide 19: Average Net Premium From SBA 7(a) Loan Sales
Average Net Premium From SBA 7(a) Loan Sales • For the three months ended June 30, 2025, the weighted average net premium received on the sale of guaranteed portions of SBA 7(a) loans was 111%. • The market clearing premium of guaranteed portions of SBA 7(a) loans is forecasted to be 110% for the se
Slide 20: Adjusted Net Interest Margin
Adjusted Net Interest Margin For the Three Months Ended June 30, 2025 For the Three Months Ended June 30, 2024 Average Interest Average Average Interest Average Balance Inc./Exp. Yield/Cost Balance Inc./Exp. Yield/Cost Interest-earning balances 219,898 2,011 3.67 % Interest-earning balances 292,972
Slide 21: Frank M. DeMaria, CFO MD&A
Frank M. DeMaria, CFO MD&A www.newtekone.com
Slide 22: Appendix
Appendix www.newtekone.com
Slide 23: Public Market Comparables
Public Market Comparables (1) Source: S&P Capital IQ as of 7/25/25 (2) 2025 and 2026 ROA and EPS are based upon consensus average estimates www.newtekone.com 23
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations www.newtekone.com
Slide 25: www.newtekone.com
NewtekOne, Inc. As of and for the three months ended (dollars and number of shares in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Return on Average Equity and Average Tangible Common Equity Numerator: Net Income (GAAP) $13,303 $9,367 $10,945 Tax-adjusted amortization of intangibles 307 117
Slide 26: www.newtekone.com
NewtekOne, Inc. As of and for the three months ended (dollars and number of shares in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Efficiency Ratio Numerator: Non-Interest Expense (GAAP) $42,309 $41,177 $40,564 Net Interest Income (GAAP) 12,984 13,933 9,126 Non-Interest Income (GAAP) 57,214
Slide 27: www.newtekone.com
Newtek Bank, NA As of and for the three months ended (dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Return on Average Tangible Common Equity Net Income (GAAP) $12,268 $6,022 $12,465 Tax-adjusted amortization of intangibles 28 30 33 Numerator: Adjusted net income 12,296 6,052 12,49
Slide 28: www.newtekone.com
NewtekOne, Inc. As of and for the three months ended June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Nonperforming Loans (NPLs) 67,533 79,437 91,895 113,916 124,723 On-Balance Sheet (GAAP) Total Loans On-Balance Sheet (GAAP)2 1,106,863 1,215,388 1,422,486 1,641,767 1,