Lendingclub Corporation · NYSE:LC
Lendingclub — Happen — Q3 2026 Earnings Presentation
38 slides from Lendingclub's earnings presentation, Oct 28, 2026
Slide 1: Meet Happen
Meet Happen October 2026 Happen { Signin | Banking that clears the Way. Keep more of what you earn. Earn more on what you save,
Slide 2: Disclaimer
Disclaimer Some of the statements in this presentation, including statements regarding our competitive advantages, loan and financial performance, growth opportunities and demand for our products, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “m
Slide 3: Meet Happen
$100B+ TM Loans funded since 20061 A leading digital bank delivering compelling products and experiences targeting the Motivated Middle – high FICO, high-income borrowers actively managing their financial lives. Our success is fueled by advanced credit underwriting, a 5M+ Members1 proprietary techno
Slide 4: Investment Highlights
Investment Highlights ~$2.5T Total Two Decades 6+ Years of Credit Accelerating Addressable Market of Experience Outperformance Growth & Profitability across personal loans, with proprietary data with ~40% lower 32% auto refinance, major and proven performance delinquencies relative purchase financin
Slide 5: An Innovative Team & Strong, Values-Driven Culture
An Innovative Team & Strong, Values-Driven Culture Talented team drawn from the best of technology & banking Meet Happen Q3 2026 5
Slide 6: A Talented Executive Team with Deep Experience
A Talented Executive Team with Deep Experience Scott Sanborn Drew LaBenne Steve Mattics Mark Elliot Anna Greenwald Chief Executive Officer Chief Financial Officer Chief Lending Officer Chief Customer Officer Chief Operations Officer Past Experience: Past Experience: Past Experience: Past Experience:
Slide 7: A Talented Executive Team with Deep Experience
A Talented Executive Team with Deep Experience Monica Khurana Jordan Cheng Dov Haselkorn Justin Gibson Chief Information Officer General Counsel & Chief Risk Officer Chief Audit Executive Corporate Secretary Past Experience: Past Experience: Past Experience: CTO, Dodge & Cox; Past Experience: Chief
Slide 8: Who We Serve
Who We Serve Meet Happen Q3 2026 8
Slide 9: The Motivated Middle
OUR CORE CUSTOMER The Motivated Middle High-FICO (Approximately 720 average) High-Income ($120K annually vs. $75K U.S. average) Digitally & Financially Savvy Self-Directed & Goal Driven Value Conscious Strategic Users of Credit They are not well served by traditional banks, who have relied on custom
Slide 10: Life's real moments don't leave room for banking complexity
THEIR CHALLENGE Life’s real moments don’t leave room for banking complexity. 10 Meet Happen Q3 2026
Slide 11: Happen Bank is Designed Around The Motivated Middle
Happen Bank is Designed Around The Motivated Middle H O W W E C L E A R T H E W AY Aligned by Design TM We win when our members win Freedom from Friction Banking that clears Products are easy to understand, the way for people quick to adopt, and simple to use going places. Banking that Adds Up Produ
Slide 12: Happen Bank Products Deliver Immediate & Meaningful Value
Happen Bank Products Deliver Immediate & Meaningful Value Credit Cards vs. Happen Bank Personal loans1 Savings Account APY2 Happen Bank members EARN 22% 15% Happen Bank members SAVE over 420X more on their savings vs. leading national banks 700bps 0.01% 0.01% 0.01% 4.20% on interest vs. credit cards
Slide 13: A Compelling Opportunity
A Compelling Opportunity The opportunity to attract new members through debt consolidation is historically high Record High Outstanding Record High Credit Card Revolving Consumer Credit1 Interest Rates2 (Q2 2016 to Q2 2026) (August 2016 to August 2026) 1.30 1.20 $1.26TTotal outstanding 24 22 22.36%
Slide 14: A Clear, Compelling, Winning Strategy
A Clear, Compelling, Winning Strategy 1 Acquire With Lending Accelerate loan growth via a best-in-class lending experience — with flexible features like Instant Approval, Fast Funding, and TopUp — that help members borrow better 2 Engage With Intention Engage members with a compelling experience thr
Slide 15: Exceptional Experiences Keep Members Coming Back
Exceptional Experiences AWARD WINNING PRODUCTS Keep Members Coming Back <5min. >90% Time to complete a Of issued loans Best Personal Loan for Debt Consolidation Best High Yield Savings Account personal loan application are fully automated 86 Net Promoter Score1 83% Of our members want (vs. 30-44 for
Slide 16: 4.7 Stars on Trustpilot
4.7 Stars on Trustpilot Absolutely painless Right on time! The ease of use Absolutely painless and I have a great history here. So, I appreciate the fact that the ridiculously fast. I now when I was offered this loan I process is intuitive, fast and have the opportunity to pay noticed the ease of ge
Slide 17: Multi-Trillion-Dollar Consumer Lending Opportunity
Multi-Trillion-Dollar Consumer Lending Opportunity1 Direct to Consumer Point of Sale Direct to Consumer Personal Loans Major Purchase Finance Auto Refinance • Unsecured loans of $1K to $75K • Loans up to $65K with multiple • Auto refinancing loans up to with terms from 24 to 84 months term options $
Slide 18: Award-Winning Consumer Deposit Products
Award-Winning Consumer Deposit Products1 LevelUp Savings LevelUp Checking Certificates of Deposit Award-winning account designed Designed from the ground up CDs in multiple terms and rates, to encourage ongoing savings specifically for our borrowers allowing members to maximize savings • Renew, chan
Slide 19: DebtIQ: Next-Generation Debt Monitoring & Management
DebtIQ : Next-Generation Debt Monitoring & Management TM • Comprehensive view of credit card usage, transactions, and obligations • Easily view and track balances, due dates, interest rates, and more • Automated payments ensure cardholders stay current • Integration with personal loans so members ca
Slide 20: Frictionless, Personalized & Fully-Owned Digital Experience
Delivered Through a Frictionless, Personalized & Fully-Owned Digital Experience 4.8 Apple App Store Rating1 “Overall, this is one of the better banking apps I’ve used. It works well, is dependable, and makes everyday banking easy.” 1. Apple App Store rating as of September 30, 2026 20 Meet Happen Q3
Slide 21: Our Strategic Advantages
Our Strategic Advantages Meet Happen Q3 2026 21
Slide 22: Strategically Positioned for Long-Term Success
Strategically Positioned for Long-Term Success Traditional Fintechs Banks Ability to efficiently serve a broad range of customers ✓ ✓ ✗ Compelling Capital-light, high-ROE marketplace earnings stream ✓ ✓ ✗ Economics Profitable earnings via loan portfolio ✓ ✗ ✓ Lower-cost deposit funding ✓ ✗ ✓ Nationa
Slide 23: Digital Marketplace Bank: The Best of Both Worlds
Digital Marketplace Bank: The Best of Both Worlds Marketplace and bank work together to optimize results Being a Bank Having a Makes Us Loan Investor Happen Bank Marketplace a Better Marketplace Balance Sheet Makes Us a Marketplace HAPN Better Bank 60%-70% Earnings 30%-40% • Trusted counterparty OF
Slide 24: Consistent Credit Performance Drives Marketplace Investor Demand
Consistent Credit Performance & Innovative Structures Drive Marketplace Investor Demand Broad Range of Rated Structured Marketplace Investors Structured Certificates Certificates • Fitch-rated multi-tranche • Two or three tranche securitization (LENDR) Asset Managers private securitization Loan Sale
Slide 25: Outperformance Across the Entire Credit Lifecycle
Outperformance Across the Entire Credit Lifecycle Supports Consistent Returns Underwriting Fraud Collections ~40% <3bps 25% Over 6 years of lower Fraud loss rate, among Recovery rate delinquency rates relative the best in the industry2 outperformance vs. to our competitive set1 competitive set3 1. C
Slide 26: Superior Credit Models Unlock Growth
Superior Credit Models Unlock Growth Advantages derived from decades of underwriting data and a robust technology platform HAPPEN BANK UNDERWRITING VS. FICO Happen Chart compares Happen Bank’s FICO 2.4X underwriting to traditional FICO- based models more approvals 1 FICO hits a given default limit a
Slide 27: Compelling Economics
Compelling Economics Meet Happen Q3 2026 27
Slide 28: Strong Multi-Year Results with Increasing Operating Leverage
Strong Multi-Year Results with Increasing Operating Leverage 4 23.0% $3.3B 3.5 32% Originations ($B) $3.1B 18.0% 3 Return on Tangible Common Equity (ROTCE)1 $2.7B $2.7B $2.6B 15.9% 15.8% Originations CAGR $2.4B 2.5 14.5% 13.0% (Q3 2024 to Q3 2026) 13.2% 8% $2.0B $1.9B 11.8% 11.9% 2 $1.9B Tangible Bo
Slide 29: Happen Bank Asset Yields Near Top of Industry
Happen Bank Asset Yields Near Top of Industry Spread to risk-free benchmark rate1 Annualized Net Asset Yield2 Credit Cards 5.9% 6.9% 10% to 11% Happen Bank Personal Loans 5.9% ~9.5% HELOC 2.9% 3.9% 6.5% to 7.5% Prime Auto 2.4% 3.4% 6% to 7% Loans Prime Private 5% to 7% Student Loans 1.3% 3.3% First
Slide 30: Optimizing the Economics of Unsecured Consumer Lending
Optimizing the Economics 16% APR ~(1.5%) of Unsecured Industry-leading acquisition Acquisition/Servicing and servicing costs Consumer ~(5%) Years of ~40% credit outperformance relative Lending1 Annualized Net Credit Losses to competitive set2 (Annualized rates based on a Coupon 1.5 year weighted-ave
Slide 31: Bank Balance Sheet Allows Us to Capture More Economics
Bank Balance Sheet Allows Us to Capture More Economics ~3.5% Balance Sheet Funding Cost 3X We earn nearly three times more by holding our loans vs. selling ~9.5% Value Retained Net Annualized Asset Yield by Happen Bank ~6.0% Requires capital, liquidity (deposits), and time to realize the earnings (w
Slide 32: Repeat Borrowers Deliver Compelling Lifetime Value
Repeat Borrowers Deliver Compelling Lifetime Value Award-winning products and digital engagement drive ~50% of loan volume from repeat borrowers Single Loan 1 Two Loans 2.6x • Lower marketing costs • Better credit performance Multiple Loans 6.5x Indexed Lifetime Value Per Member1 1. Reflects project
Slide 33: Looking Ahead
Looking Ahead Meet Happen Q3 2026 33
Slide 34: Multiple Levers to Continue Improving Returns
Multiple Levers to Continue Improving Returns BALANCE SHEET MARKETPLACE PRODUCT OPERATING GROWTH EXPANSION EXPANSION LEVERAGE Driving continued While driving ongoing Extending into new With investment in balance sheet and margin marketplace margin categories where we strategic growth growth with org
Slide 35: Originations & ROTCE Targets
Originations & ROTCE1 Targets NEAR TERM TARGETS MEDIUM TERM TARGETS2 Build on our Achieve sustainable, position of strength responsible growth 20% to 30% Annual Originations Growth 13-15% 18-20% ROTCE ROTCE 1. Return on Tangible Common Equity (ROTCE) is a non-GAAP financial measure calculated by div
Slide 36: Financial Reconciliation
Financial Reconciliation Meet Happen Q3 2026 36
Slide 37: Return on Tangible Common Equity
Reconciliation of GAAP to Non-GAAP Measures: Return on Tangible Common Equity1 For the three months ended March 31, June 30, September December March 31, June 30, September December March 31, June 30, September In thousands, except ratios. 2024 2024 30, 2024 31, 2024 2025 2025 30, 2025 31, 2025 2026
Slide 38: Visit us at www.Happen.com
Visit us at www.Happen.com