Slide 1: First Quarter 2026 Financial Results Conference Call
NASDAQ: NEWT First Quarter 2026 Financial Results Conference Call April 30, 2026 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 the plans and future prospects for NewtekOne, Inc and consolidated subsidiaries (the “Company”) and our industry that are “forward looking statements” withi
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. We help our clients become more successful. www.newtekone.com 3
Slide 4: NewtekOne, Inc. Use of Technology
NewtekOne, Inc. Use of Technology NewtekOne uses technology to tackle its mission. We believe that by using technology we have solved for three primary challenges the banking industry needs to overcome: • High-cost infrastructure with too many branches and expensive traditional bankers. • Insufficie
Slide 5: NewtekOne Financial Structure and Product Solutions
NewtekOne Financial Structure and Product Solutions • 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 branc
Slide 6: 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 7: Quarterly Highlights
Quarterly Highlights • Good start to 2026. ◦ 1Q basic and diluted EPS of $0.43, which reflects 19% and 23% growth over 1Q25 basic and diluted EPS; and was within the $0.37-$0.47 EPS guidance range for 1Q26. • Reconfirming 2026 guidance and establishing $2.60/share mid-point for 2027 EPS guidance ran
Slide 8: Quarterly Highlights (continued)
Quarterly Highlights (continued) • Deposit growth accelerated; two consecutive quarters of record number of deposit accounts opened. We are growing deposits without branches or traditional bankers. ◦ In 13 quarters, we have grown Newtek Bank’s deposits from $142 million to $1.9 billion. ◦ Ended 1Q26
Slide 9: Tangible Book Value per Share Growth
Tangible Book Value per Share Growth • BV/share ended 1Q26 at $12.36, up 1.4% Q/Q and 15.2% Y/Y. • TBV/share1 increased 1.5% Q/Q and 16.5% Y/Y. • TBV/share is up 71.2% in twelve quarters since converting to technology-enabled financial holding company in January 2023. • Including $2.43/share of cumu
Slide 10: Technological Advances Support Increased Volume
Technological Advances Support Increased Volume • 1Q26 unit and total dollar balance originations increased 40% and 7%, respectively, compared to 1Q25 unit and dollar balance originations. • Origination volume accelerated in the second half of 1Q26 after implementing origination process enhancements
Slide 11: Deposit Growth
Deposit Growth • Q/Q $ Deposit changes # Deposit Accounts ◦ Business: +$37 million (+9%) ◦ Core Consumer: +$392 million (+38%) ◦ Wholesale: -$5 million (-6%) • Y/Y $ Deposit changes ◦ Business: +$173 million (+66%) ◦ Core Consumer: +$668 million (+88%) ◦ Wholesale: +$30 million (+63%) • Q/Q # Deposi
Slide 12: NSBF Portfolio Wind Down Continues
NSBF Portfolio Wind Down Continues Newtek Small Business Finance (“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. 1Q25 2Q25 3Q25 4Q25 1Q26 Net Increase in Non Accr
Slide 13: C&I LA Loan Program Significantly Additive
C&I LA Loan Program Significantly Additive • The C&I LA Loan Program was developed in 2019 as a natural extension of NewtekOne’s SBA 7(a) loan program. Like 7(a) loans, C&I LA loans fully amortize over 10-25 years, are underwritten on cash flows of the borrower, and are secured by personal guarantee
Slide 14: C&I LA Loan Metrics
C&I LA Loan Metrics • Principal balance of outstanding C&I LA Loans at 3/31/26 (includes loans off balance sheet in JV and securitizations) of $754 million. • Non-performing C&I LA loans on a fair value basis totaled $25.8 million. • Weighted average FICO Score of 729 • Weighted average LTV at origi
Slide 15: Economics of C&I LA Loan Securitizations
Economics of C&I LA Loan Securitizations • NewtekOne and its joint ventures completed four C&I LA loan securitizations since launching the C&I LA loan program in 2019; the fourth C&I LA loan securitization was issued in 1Q26. • For the four completed securitizations, gross spreads and advance rates
Slide 16: Status of Three Active C&I LA Loan Securitizations
Status of Three Active C&I LA Loan Securitizations • C&I LA loan balances and securitization notes in our oldest outstanding ALP securitization (2024-1) have declined by 27% and 42%, respectively. • C&I LA loan balances and securitization notes in the 2025-1 securitization that closed in April 2025
Slide 17: Frank M. DeMaria, EVP & CFO
Frank M. DeMaria, EVP & CFO www.newtekone.com
Slide 18: NewtekOne - Quarterly Profitability Snapshot
NewtekOne - Quarterly Profitability Snapshot Return on Avg. Assets1 - 1Q25 vs. 1Q26 Return on Avg. Tangible Common Equity1 - 1Q25 vs. 1Q26 Return on Avg. Equity1 - 1Q25 vs. 1Q26 Operating Efficiency Ratio1 - 1Q25 vs. 1Q26 1Note: Non-GAAP financial measure; reconciliation of non-GAAP financial measur
Slide 19: Newtek Bank, N.A. Financial Highlights
Newtek Bank, N.A. Financial Highlights Financial Performance 1Q25 2Q25 3Q25 4Q25 1Q26 Return on Average Assets 2.01 % 4.05 % 3.68 % 2.68 % 4.34 % Return on Average Equity 18.6 % 34.5 % 32.0 % 23.9 % 47.8 % Return on Average Tangible Common Equity 19.6 % 35.7 % 35.4 % 27.7 % 51.6 % Efficiency Ratio 4
Slide 20: Total Loans - NewtekOne and Newtek Bank
Total Loans - NewtekOne and Newtek Bank NewtekOne loans on balance sheet owned by Newtek Bank and its non-bank subsidiaries. Loans ($000s) 1Q25 2Q25 3Q25 4Q25 1Q26 Newtek Bank - $ 711,166 $ 767,827 $ 834,087 $ 896,689 $ 988,269 Loans HFI Newtek Bank - — — — — 98,552 C&I LA Loans HFS Newtek Bank - 22
Slide 21: Newtek Bank, N.A. Credit Quality Overview
Newtek Bank, N.A. Credit Quality Overview 1Q25 2Q25 3Q25 4Q25 1Q26 30 days+ past due and accruing/ 1.69% 2.31% 2.18% 1.95% 1.86% Total Loans NPLs/ 4.34% 4.31% 4.28% 4.07% 3.28% Total Loans* Provision for Credit Losses $13.5 $9.0 $7.7 $8.3 $9.3 Net Charge-Offs $5.1 $5.1 $5.2 $8.2 $7.8 ACL/ 5.48% 5.61
Slide 22: HFI Loan Portfolio at Newtek Bank, N.A.
HFI 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 (ex-gov’t gtd loans) = 7.66% as of March 31, 2026. $ Mix of NBNA Loans HFI % Mix of NB
Slide 23: Asset Growth Supported by Healthy Capital Ratios
Asset Growth Supported by Healthy Capital Ratios NewtekOne: Assets vs. Regulatory Capital Ratios Notes: (1) Left axis: Average Assets (2) Right axis: T1L = Tier 1 Leverage Ratio = Tier 1 Capital / Average Assets CET1 = Common Equity Tier 1 Ratio = Common Equity Tier 1 Capital / Risk-Weighted Assets
Slide 24: Financial and Origination Forecast
Financial and Origination Forecast Low Mid High 2026 Financial Projections: EPS $2.15 $2.35 $2.55 Book Value/Share $13.49 $13.69 $13.89 TBV/Share $12.98 $13.18 $13.38 Revenue $315 $330 $345 Operating Expenses $175 $185 $195 Net Income $62 $68 $74 2027 EPS guidance range: $2.40 $2.60 $2.80 2026 Loan
Slide 25: Appendix
Appendix www.newtekone.com
Slide 26: 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 3.90% of average assets for 1Q26 vs. 4.87% for 1Q25. • The relative strength of NewtekOne’s earnings
Slide 27: Income Statement Mechanics of Securitizations
Income Statement Mechanics of Securitizations • Income statement mechanics of a C&I LA Loan securitization transaction: ◦ Unrealized gains on loans being placed into securitization are reversed. (I/S line item = net gain/(loss) on loans under FV option) ◦ Unrealized gain on retained residual is reco
Slide 28: Net Interest Margin
Net Interest Margin For the Three Months Ended March 31, 2026 For the Three Months Ended December 31, 2025 Average Interest Average Interest Balance Inc./Exp. Average Balance Inc./Exp. Average Yield/Cost Yield/Cost ($000s) ($000s) ($000s) ($000s) Interest-earning balances 601,050 8,323 5.62 % Intere
Slide 29: Public Market Comparables
Public Market Comparables (1) Source: S&P Capital IQ as of 04/29/26 (2) 2026 and 2027 EPS and 2026 ROA are based upon consensus estimates www.newtekone.com 29
Slide 30: It Takes Time for the Market to Recognize Disruptors
It Takes Time for the Market to Recognize Disruptors AX Axos Financial (AX) • Almost 5 years before stock started to move higher. • AX trades at 10.9x 2026 consensus EPS and 197% of tangible book. LOB Live Oak Bancshares (LOB) • Roughly 5 years before stock started to move higher. • LOB trades a
Slide 31: It Takes Time for the Market to Recognize Disruptors
It Takes Time for the Market to Recognize Disruptors TFIN Triumph Financial (TFIN) • Roughly 6 years before stock started to move higher. • TFIN trades at 42.7x 2026 consensus EPS and 315% of tangible book. SOFI SoFi Technologies (SOFI) • 2.5-3.0 year period of sideways-to-lower before stock mov
Slide 32: It Takes Time for the Market to Recognize Disruptors
It Takes Time for the Market to Recognize Disruptors NBN Northeast Bank (NBN) • Roughly 10 years before stock started to move higher. • NBN trades at 11.0x 2026 consensus EPS and 187% of tangible book. LC Lending Club (LC) • LC trades at 9.7x 2026 consensus EPS and 133% of tangible book. Source:
Slide 33: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations www.newtekone.com
Slide 34: www.newtekone.com
NewtekOne, Inc. As of and for the three months ended (dollars and number of shares in thousands) March 31, 2026 December 31, 2025 March 31, 2025 Return on Average Equity and Average Tangible Common Equity Numerator: Net Income (GAAP) $13,401 $19,541 $9,367 Dividend on preferred equity (1,063) (1,063
Slide 35: www.newtekone.com
NewtekOne, Inc. As of and for the three months ended (dollars and number of shares in thousands) March 31, 2026 December 31, 2025 March 31, 2025 Efficiency Ratio Numerator: Non-Interest Expense (GAAP) $44,263 $40,448 $41,177 Net Interest Income (GAAP) 17,226 17,480 13,933 Non-Interest Income (GAAP)
Slide 36: www.newtekone.com
Newtek Bank, NA As of and for the three months ended (dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025 Return on Average Tangible Common Equity Net Income (GAAP) $20,201 $10,394 $6,022 Average Total Shareholders' Equity1 171,737 172,349 132,202 Return on Average Equity 47.8% 23.
Slide 37: www.newtekone.com
NewtekOne, Inc. As of and for the three months ended March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Nonperforming Loans (NPLs) 113,916 124,723 156,216 178,006 200,474 (GAAP) Total Loans 1,641,767 1,640,840 1,925,486 2,176,256 2,041,900 (GAAP) NPLs excluding Guarante