Oportun provides intra-quarter update on strategic initiatives Strong progress toward quarterly and full-year objectives SAN CARLOS, CALIF. – September 14, 2021 – Oportun Financial Corporation (NASDAQ: OPRT), an A.I.-driven financial services and technology company that provides hardworking people with access to responsible and affordable credit, today provided an intra-quarter update on its strategic initiatives. “We continue to be very pleased with how our third-quarter and full-year 2021 are progressing” said Oportun CEO Raul Vazquez. “Oportun is making strong progress on all of its key strategic objectives.” The intra-quarter updates were presented in an updated investor deck posted to Oportun’s investor website (investor.oportun.com) this morning. The updates included: • Aggregate Originations were $501 million quarter-to-date, up 122% year-over-year • Better than expected personal loan originations in the first 12 states that Oportun began offering loans under its bank partnership expansion, launched August 23, 2021 o Oportun expects to enter approximately 17 additional states through the bank partnership, nearly doubling its addressable market by the end of 2021 • Secured personal loan receivables were $23.1 million as of August 31, 2021, up 11,078% year-over-year • Oportun Visa Credit Card receivables were $31.8 million as of August 31, 2021, up 946% year-over-year o Additionally, the credit card program now has over 75,000 active customers • DolEx locations that offer Oportun’s loans through its Lending-as-a-Service program now number 181 as of September 13, 2021, already surpassing the company’s yearend goal of 175 locations, which it is raising to a new year-end target of 200 locations o Oportun remains on track to begin offering loans through its second Lending-as- a-Service partnership in the fourth quarter, which will add at least an additional 100 new locations over the next 12 months • Last week the Company closed its new $600 million, 3-year warehouse line and drew on the line to redeem the last of its more expensive ABS notes issued in 2018, which lowers Oportun’s cost of funds going forward About Oportun Oportun (Nasdaq: OPRT) is a financial services company that leverages its digital platform to provide responsible consumer credit to hardworking people. Using A.I.-driven models that are built on 15 years of proprietary customer insights and billions of unique data points, Oportun has extended more than 4.3 million loans and over $10.5 billion in affordable credit, providing its customers with alternatives to payday and auto title loans. In recognition of its responsibly designed products which help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.


 
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