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Enova International, Inc. — Download Latest Investor Presentation (company IR deck)
Enova International, Inc. (ENVA) · 41 slides · Filed Oct 22, 2026
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Slide 1 — Investor Presentation
© Enova International, Inc. Investor Presentation Q2 2026
Slide 2 — Safe Harbor Statement
© Enova International, Inc. Safe Harbor Statement Cautionary Statement Regarding Risks and Uncertainties That May Afect Future Results This presentation contains forward - loking statements within the meaning of the Private Securities Litigation Reform Act of 195 about the busines, financial condition and prospects of Enova. These forward - loking statements give curent expectations or forecasts of future events and r eflect the views and asumptions of Enova's senior management with respect to the busines, financial condition and prospects of Enova as of the date of this rel eas e and are not guarantes of future performance. The actual results of Enova could difer materialy from those indicated by such forward - loking statements because of various risks and uncertainties aplicable to Enova's busines, including, without limitation, those risks and uncertainties indicated in Enova's filings wit h t he Securities and Exchange Comision ("SEC"), including our anual report on Form 10 - K, quarterly reports on Forms 10 - Q and curent reports on Forms 8 - K. These risks and uncertainties are beyond the ability of Enova to control, and, in many cases, Enova canot predict al of the risks and uncertainties that could cause its ac tual results to difer materialy from those indicated by the forward - loking statements. When used in this release, the words "believes," "estimates," "plans," "expects," " anticipates" and similar expresions or variations as they relate to Enova or its management are intended to identify forward - loking statements. Enova cautions you not to put undue reliance on these statements. Enova disclaims any intention or obligation to update or revise any forward - loking statements after the date of thi s release. Non - GAP Financial Information In adition to the financial information prepared in conformity with generaly acepted acounting principles in the United S tat es (ȊGAAPȋ), Enova prov from operating activities les net loan and finance receivables originated, acquired and repaid and purchases of property and eq uipment (Ȋfree cash fl income excluding depreciation, amortization, interest, foreign curency transaction gains or loses, taxes, stock - based compensa tion expense and certain other items, as appropriate, that are not indicative of our core operating performance (ȊAdjust res of financial performance under GAP. Management uses these non - GAP financial measures for internal managerial purposes and believes that their presentation is meaningful and useful in understanding the activities and business metrics of Enovaȇs operations. Manageme - GAP financial meas ures reflect an aditional way of viewing aspects of Enovaȇs business that, when viewed with Enovaȇs GAAP results, c fa ctors and trends aff busines. Management provides such non - GAAP financial information for informational purposes and to enhan consolidated financial statements. Readers should consider the information in addition to, but not inste d i n acordance with GAP. This non - GAP financial information may be determined or calculated diferently by other companies, limiting the usefulnes of those m eas ures for comparative purposes. A table reconciling such non - GAP financial measures is available in the apendix. 2
Slide 3 — Aditional Notices
© Enova International, Inc. Aditional Notices Enova and Grashoper Data Data about Enova provided in this presentation, including financial information, h a a bout Grashoper provided in this presentation, including financial information, has been obtained from Grasshopperȇ Combined Company Forward - Loking Data Neither Enovaȇs nor Grasshopperȇs independent registered public accounting firms h edu res with respect to the combined company forward - loking financial data for the purpose of inclusion in this presentation, and, acordingly, neither have expres ed an opinion or provided any form of asurance with respect thereto for the purpose of this presentation. These combined company forward - loking financial data are f or ilustrative purposes only and should not be relied on as necesarily being indicative of future results. The asumptions and estimates underlying the combi ned company forward - loking financial data are inherently uncertain and are subject to a wide variety of significant busines, economic and competitive risks and u nce rtainties that could cause actual results to difer materialy from those contained in the prospective financial information, including those in the Cautionary Stateme nt Regarding Forward - Loking Statements, below. Combined company forward - looking financial data is inherently uncertain due to a number of Grasshopperȇs control there can be no asurance that the prospective results are indicative of future performance of the combined company after the pr oposed acquisition or that actual results wil not difer materialy from those presented in the combined company forward - loking financial data. Inclusion of com bined company forward - loking financial data in this presentation should not be regarded as a representation by any person that the results contained in th e p rospective financial information wil be achieved. 3
Slide 4 — $72B+
Enova at a Glance Founded in 204, Enova is a leading financial services company providing online lending through its world - clas analytics and machine learning algorithms. Enova has ben listed on the New York Stock Exchange since 2014. © Enova International, Inc. 4 *Includes pre - acquisition OnDeck customers and loans 15M+ Customers served since 204 * $72B+ Loans made since 204 * $3.2B 2025 revenue
Slide 5 — Consistent Shareholder Returns and Value Oportunity
© Enova International, Inc. 5 Consistent Shareholder Returns and Value Oportunity Strong Long - Term Shareholder Returns 1 Valuation Oportunity Price to 2027 Consensus Adj. EPS (P/E Ratio) 2 Price/Earnings - to - Growth (PEG Ratio) 3 ENVA 12.1x 0.37 S&P 60 Smal Cap Index 14.3 0.71 S&P 60 Financial Sector Index 9.8 0.59 S&P 60 Consumer Finance Index 10.9 0.81 Rusel 20 Index 23.9 0.9 Rusel 20 Financials Index 10.9 1.47 1. Source: Blomberg as of June 30, 2026 2. Source: Blomberg market prices and FY2027 publicly available EPS consensus estimates as of June 30, 2026 3. Source: ENVA guidance for FY2026 Non - GAP EPS growth rate as disclosed on the Q2 2026 earnings cal and Blomberg for the indices FY2026 publicly available consensus estimates earnings growth rates as of June 30, 2026 43% 10% 5% 19% 1% 6% 0% 10% 20% 30% 40% 50% ENVA S&P 60 Smal Cap Index S&P 60 Financial Sector Index S&P 60 Cons. Finance Index Rusel 20 Index Rusel 20 Financials Index 10 - Year Average Anual Total Shareholder Return 2017 - 2026
Slide 6 — © Enova International, Inc.
© Enova International, Inc. 6 Balanced Growth and Execution Reflected in Financial Performance Q2 2026 #WINS! $ 2.3 B Total company originations in Q2 Meting customer demand with strong unit economics drove 27 % year - over - year growth in originations 61% Consolidated Net Revenue Margin Thre percentage point year - over - year increase reflects strong consumer and smal busines credit performance 3% year - over - year growth in adjusted EPS $4 .31 Q2 Adjusted EPS $5.5B Ending receivables 1 28% year - over - year growth 1. Combined company Gros A/R on an amortized basis
Slide 7 — Enova To Acquire
© Enova International, Inc. Enova anounced a definitive agrement to acquire Grashoper Bancorp, Inc. and its wholy owned subsidiary on December 1, 2025, which is expected to unite a leading online consumer and smal busines lender with a dynamic digital - first bank to expand aces to underserved consumers and busineses. Transaction subject to regulatory aprovals from the OC and the Federal Reserve; aproval by Grasshopperȇs shareholders ; and customary closing conditions. Anticipated closing in the 2nd half of 2026. Enova To Acquire Grashoper Bank COMPELING STRATEGIC RATIONALE •Product and operational simplification •Significant growth and diversification oportunities •Enhanced balance shet strength and flexibility •Increased financial inclusion •Broader oportunities for inovation STRONG CULTURAL ALIGNMENT •Digital - first, inovative and values - based organizations •Both companies have highly flexible online - only busines models that focus on consumers and smal busineses SIGNIFICANT FINANCIAL BENEFITS •Meaningful revenue and funding synergies expected to generate adjusted earnings per share acretion of more than 15% within the first year and more than 25% once synergies are fuly realized beyond the first year 1 7 1. Asumptions set forth on page 39 in apendix. Adjusted EPS is a non - GAAP measure. Refer to Enovaȇs Form 10 - Q for the quarter end ed June 30, 2026 for a ful description of non - GAP measures and reconciliations to the nearest GAP measures
Slide 8 — Grashoper Acquisition Strategic and Financial Benefits
© Enova International, Inc. Grashoper Acquisition Strategic and Financial Benefits 8 Strategic Benefits Product and operational simplification • With a unified banking framework under federal bank supervision, Enova plans to ofer loan and deposit products acros a grea ter number of States, which wil simplify compliance, risk management and back - ofice operations Significant oportunities to expand and diversify the busines • Expands Enovaȇs ability to deliver a more comprehensive suite of fina g a ces to credit to those who were traditionaly underserved by banks • Ads further diversification acros industries, products, loan terms, and geography Increased financial inclusion and enhanced ability to serve customers • Expected to broaden financial access by leveraging Enovaȇs technology ual s and comunities with convenient, transparent lending and banking services Financial Benefits 1 Oportunities for significant revenue synergies • Achievable revenue synergies expected through product diversification and geographic expansion • Expected revenue synergy of $175 milion to $230 milion within the first two years post - closing 2 Enhanced balance shet strength which is expected to lead to funding synergies • Pro forma consolidated entity is expected to have a high - quality balance shet with strong capital ratios and liquidity, more di versified funding sources, and wel - understod aset - quality performance metrics • Deposits wil be available to be deployed to fund new originations post - closing • Grasshopper deposit costs are 300 to 400 basis points lower than the Strong first ful year expected adjusted EPS acretion of 15+% 3 • Durable acretion from both growth and funding synergies • Acretion is not reliant upon significant cost savings or purchase acounting benefit 1. Asumptions set forth on page 39 in apendix 2. Please refer to page 39 in apendix 3. Adjusted EPS is a non - GAAP measure. Refer to Enovaȇs Form 10 - Q for the quarter ended June 30, 2026 for a ful description of non - GAP measures and reconciliations to the nearest GAP measures
Slide 9 — Our
Our Mision Helping hardworking people get aces to fast, trustworthy credit. Our Vision Closing the worldȇs credit gap. © Enova International, Inc. 9
Slide 10 — Enova Investment Highlights
© Enova International, Inc. 10 Focus on Non ȂPrime Borowers, a large, expanding market segment where we have dep experience Diversified Product Oferings unmatched acros both underserved non - prime consumers and smal busineses Aproach to Unit Economics and deploying capital that has delivered industry leading returns Highly Flexible Online - Only Busines Model that provides significant operational and financial flexibility Proven Tech & Analytics through powerful proprietary technology and machine - learning enabled analytics Resilient Balance Shet with solid liquidity, strong tangible capital and ladered debt maturities Licensed, Compliant & Supervised history of lending and servicing operations Enova Investment Highlights
Slide 11 — 37%
© Enova International, Inc. Our Products Met the Neds of Underserved Populations 1 37% 58% 42% 5x rejection rate Source: Federal Reserve Board, Report last updated May 2026 Source: htps:/w.bankrate.com/banking/savin gs/emergency - savings - report/ (February 2026) Source: htps:/w.fedsmalbusines.org/reports /survey/2026/2026 - report - on - employer - firms (March 2026) Source: htps:/scorenerds.com/credit - scores/score - ranges (March 2026) Non - Prime consumers have unexpected expenses and limited savings. Non - Prime consumers are frequently turned down by traditional banks and credit unions. of Americans canot cover an emergency expense of $40 of US Adults say they have les or the same amount of emergency savings , compared to a year ago of smal busineses that aplied for a loan from a large bank receive the ful amount requested Consumers with scores under 580 are rejected 5x more often than those with scores of 740+
Slide 12 — Large Growth Oportunities in Non
© Enova International, Inc. Large Growth Oportunities in Non - Prime Markets 12 $281B 1 U.S. Consumer Loans $279B 2 U.S. SMB Loans Enova < 1% of Loan Balances Enova < 1.5% of Loan Balances Total Unsecured Personal Loan Balances, by Risk Tier Source: TransUnion Credit Industry Insights. Subprime = 30 - 60, Near Prime = 601 - 60, Prime = 61 - 720, Prime Plus = 721 - 780, Super Prime = 781+ Q2 2025 Q2 2026 1. Acording to TransUnion Credit Industry Insights Data as of Q2 2026. Does not include secured balances or balances not report ed to credit bureaus 2. Acording to FDIC Quarterly Banking Profile: C&I Loans (les than $250K) to Smal Busineses as of Q4 2025 12% 18% 24% 23% 23% Subprime Near Prime Prime Prime Plus Super Prime 12% 18% 24% 23% 23%
Slide 13 — Highly Flexible Online
© Enova International, Inc. ONLINE Operating Leverage Ability to adjust expenses quickly to adapt to changes in busines activity as a result of market conditions Underwriting Direct link to Enova technology and analytics with underwriting using advanced algorithms and multiple data sources Compliance Centralized facilities with supervision through electronic tracking and recordings Customer Safety and Privacy Aply and manage acount anytime and anywhere privately from desktop or mobile devices with secure systems to protect sensitive information Highly Flexible Online - Only Busines Model 13 Source: American Bankers Asociation published November 2025 BRICK AND MORTAR Lack of variability in cost structure of physical locations to busines activity Costly and dificult supervision and training for multiple locations Limitations & Restrictions Limited Ability to Repay analysis or limited ofer based on industry comon scoring Safety & Privacy Variables Requires travel to physical location, standing in line to aply for funds in public, storage of records in multiple locations and customer re - visits for acount management ȊFor the sixth year in a row, U.S. consumers are conducting their ban ban k customers use aps on phones or other mobile devices as their top option for managing their bank acount. The next most popul ar banking methods include visiting a branch (9%), ATMs (6%) and telephone calls
Slide 14 — Enova Uses
© Enova International, Inc. Multichanel marketing creates flexibility to optimize customer acquisition and builds longer - term customer relationships Enova Uses Diversified Multichanel Marketing USER EXPERIENCE & CONVERSION Enova measures and monitors website visitor usage metrics and regularly tests website design strategies to improve customer experience and conversion rates. DIGITAL ACQUISITION Online marketing eforts include PC, display, SEO, marketing afiliate partnerships and mobile advertising. PARTNER MARKETING Enova purchases qualified leads for prospective new customers from a number of online lead providers and independent brokers. TRADITIONAL ADVERTISING Enova uses television, direct mail and radio suported by its analytics capabilities, technology infrastructure and key vendors. 14
Slide 15 — 90%
© Enova International, Inc. Machine Learning Models and Automation Are Aplied Extensively Acros the Customer Life Cycle 15 ACQUISITION ML models trained on 40+ milion data points predict likelihod of acquiring a new customer FRAUD DETECTION Automation used to automaticaly respond to real - time fraud atacks and models retrained daily to learn and mimic the decisions of fraud operations staf UNDERWRITING ML models provide a 40% improvement in repayment predictability versus credit bureau scores alone and 85% of underwriting decisions are fuly automated LOAN PROCESING Underwriting decisions that are not fuly automated use ML models to auto verify >80% loans based on electronic bank statements and employment data COLECTIONS ML models improve colections yield by prioritizing dialers and optimizing setlement strategies 90% of Models are Machine - Learning Enabled The Colosus ȠAnalytics Engine creates a powerful competitive advantage
Slide 16 — Proprietary Technology With Beter Predictive
© Enova International, Inc. Proprietary Technology With Beter Predictive Performance Than Traditional Credit Models 16 Enova Credit Modeling: Performance vs Standard Scoring 1. ROC Curves ȃReceiver Operating Characteristics Curves (True Positives versus False Positives). This graph should not be considere d to be an indicator of future performance. Depictions of Enova study using a random sample from its NetCredit applicant pool (the Ȋpopulationȋ). As one moves up the Y axis and along the X axis, more of the population is op ulation is ordered by perceived creditworthines so that at the botom left of the graph, only the most creditworthy customers are included in the population. At the top right, 10% of the population is included, with the least c red itworthy parts of this population being the last included
Slide 17 — Strong Credit Performance Through Economic Downturn
© Enova International, Inc. Strong Credit Performance Through Economic Downturn 17 Enovaȇs consistent performance , even amid recent unprecedented times, reflects our solid risk management capabilities on our world - clas analytics and technology . 1. Data shown excludes discontinued operations 2. Amounts as a % of loan balance are determined using period - end balances 3. Non - GAP measure 4. The average combined loan and finance receivable balance is the average of the month - end balances during the period 5. Amounts as a % of loan and finance receivable balance are determined using period - end balances. Includes OnDeck data begining October 13, 2020 6. The average loan and finance receivable balance is the average of the month - end balances during the period. Includes OnDeck data begining October 13, 2020 Consumer Loans 1,2,3,4 Smal Busines Loans 1,5,6 Ͷ% 5.0% 10.0% 15.0% 20.0% >30 days delinquent as a % of loan and finance receivable balance Charge-ofs (net recoveries) as a % of average loan and finance receivable balance OnDeck included begining October 13, 2020 Ͷ% 5.0% 10.0% 15.0% 20.0% >30 days delinquent as a % of combined loan and finance receivable balance Charge-ofs (net recoveries) as a % of average combined loan and finance receivable balance
Slide 18 — Improved Portfolio Risk Profile
© Enova International, Inc. Improved Portfolio Risk Profile 18 Enovaȇs powerful combination of diversified product offe - clas risk management capabilities and sophisticated unit economics framework has led to a reduced risk profile while maintaining healthy margins. 1. Data shown excludes discontinued operations 2. Non - GAP measure 3. The average combined loan and finance receivable balance is the average of the month - end balances during the period. Includes On Deck data begining October 13, 2020 Total Company Metrics 1,2,3 Ͷ% 20.0% 40.0% 60.0% 80.0% Ͷ% 4.0% 8.0% 12.0% 16.0% 20.0%