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Enova International, Inc. — Download Latest Investor Presentation (company IR deck)
Enova International, Inc. (ENVA) · 0 slides · Filed Oct 22, 2026
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Slide 1 — Investor Presentation
© Enova International, Inc. Investor Presentation Q3 2026
Slide 2 — Safe Harbor Statement
© Enova International, Inc. Safe Harbor Statement Cautionary Statement Regarding Risks and Uncertainties That May Affect Future Results This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the business, financial condition and prospects of Enova. These forward-looking statements give current expectations or forecasts of future events and reflect the views and assumptions of Enova's senior management with respect to the business, financial condition and prospects of Enova as of the date of this release and are not guarantees of future performance. The actual results of Enova could differ materially from those indicated by such forward-looking statements because of various risks and uncertainties applicable to Enova's business, including, without limitation, those risks and uncertainties indicated in Enova's filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K, quarterly reports on Forms 10-Q and current reports on Forms 8-K. These risks and uncertainties are beyond the ability of Enova to control, and, in many cases, Enova cannot predict all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, the words "believes," "estimates," "plans," "expects," "anticipates" and similar expressions or variations as they relate to Enova or its management are intended to identify forward-looking statements. Enova cautions you not to put undue reliance on these statements. Enova disclaims any intention or obligation to update or revise any forward-looking statements after the date of this release. Non-GAAP Financial Information In addition to the financial information prepared in conformity with generally accepted accounting principles in the United States (“GAAP”), Enova provides cash flow from operating activities less net loan and finance receivables originated, acquired and repaid and purchases of property and equipment (“free cash flow”) and net income excluding depreciation, amortization, interest, foreign currency transaction gains or losses, taxes, stock-based compensation expense and certain other items, as appropriate, that are not indicative of our core operating performance (“Adjusted EBITDA”), which are not considered measures of financial performance under GAAP. Management uses these non-GAAP financial measures for internal managerial purposes and believes that their presentation is meaningful and useful in understanding the activities and business metrics of Enova’s operations. Management believes that these non-GAAP financial measures reflect an additional way of viewing aspects of Enova’s business that, when viewed with Enova’s GAAP results, can provide a more complete understanding of factors and trends affecting Enova’s business. Management provides such non-GAAP financial information for informational purposes and to enhance understanding of Enova’s GAAP consolidated financial statements. Readers should consider the information in addition to, but not instead of, Enova’s financial statements prepared in accordance with GAAP. This non- GAAP financial information may be determined or calculated differently by other companies, limiting the usefulness of those measures for comparative purposes. A table reconciling such non-GAAP financial measures is available in the appendix. 2
Slide 3 — 16M+
Enova at a Glance Founded in 2004, Enova is a leading financial services company providing online lending through its world-class analytics and machine learning algorithms. Enova has been listed on the New York Stock Exchange since 2014. © Enova International, Inc. 3 *Includes pre-acquisition OnDeck customers and loans 16M+ Customers served since 2004* $74B+ Loans made since 2004* $3.2B 2025 revenue CHICAGO NEW YORK COLORADO NATIONAL
Slide 4 — Consistent Shareholder Returns and Value Opportunity
© Enova International, Inc. 4 Consistent Shareholder Returns and Value Opportunity Strong Long-Term Shareholder Returns1 Valuation Opportunity Price to 2027 Consensus Adj. EPS (P/E Ratio)2 Price/Earnings-to-Growth (PEG Ratio)3 ENVA 8.0x 0.25 S&P 600 Small Cap Index 13.0 0.57 S&P 600 Financial Sector Index 9.1 0.53 S&P 600 Consumer Finance Index 8.4 0.39 Russell 2000 Index 22.4 1.34 Russell 2000 Financials Index 10.2 2.24 1. Source: Bloomberg as of September 30, 2026 2. Source: Bloomberg market prices and FY2027 publicly available EPS consensus estimates as of September 30, 2026 3. Source: ENVA guidance for FY2026 Non-GAAP EPS growth rate as disclosed on the Q3 2026 earnings call and Bloomberg for the indices FY2026 publicly available consensus estimates earnings growth rates as of September 30, 2026 35% 8% 4% 15% 9% 5% 0% 10% 20% 30% 40% 50% ENVA S&P 600 Small Cap Index S&P 600 Financial Sector Index S&P 600 Cons. Finance Index Russell 2000 Index Russell 2000 Financials Index 10-Year Average Annual Total Shareholder Return 2017-2026
Slide 5 — $2.6B
© Enova International, Inc. 5 Balanced Growth and Execution Reflected in Financial Performance Q3 2026 #WINS! $2.6B Total company originations in Q3 Meeting customer demand with strong unit economics drove 31% year-over-year growth in originations 61% Consolidated Net Revenue Margin Three-and-a-half percentage point year-over-year increase reflects strong consumer and small business credit performance 33% year-over-year growth in adjusted EPS $4.48 Q3 Adjusted EPS $1.0B Q3 revenue First quarter above $1B in Enova’s history, up 26% year-over-year
Slide 6 — Our Mission
Our Mission Helping hardworking people get access to fast, trustworthy credit. Our Vision Closing the world’s credit gap. © Enova International, Inc. 6
Slide 7 — Enova Investment Highlights
© Enova International, Inc. 7 Focus on Non–Prime Borrowers, a large, expanding market segment where we have deep experience Diversified Product Offerings unmatched across both underserved non-prime consumers and small businesses Approach to Unit Economics and deploying capital that has delivered industry leading returns Highly Flexible Online-Only Business Model that provides significant operational and financial flexibility Proven Tech & Analytics through powerful proprietary technology and machine-learning enabled analytics Resilient Balance Sheet with solid liquidity, strong tangible capital and laddered debt maturities Licensed, Compliant & Supervised history of lending and servicing operations Enova Investment Highlights
Slide 8 — 37%
© Enova International, Inc. Our Products Meet the Needs of Underserved Populations 8 37% 58% 42% 5x rejection rate Source: Federal Reserve Board, Report last updated May 2026 Source: https://www.bankrate.com/banking/savings/e mergency-savings-report/ (February 2026) Source: https://www.fedsmallbusiness.org/reports/sur vey/2026/2026-report-on-employer-firms (March 2026) Source: https://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 cannot cover an emergency expense of $400 of US Adults say they have less or the same amount of emergency savings, compared to a year ago of small businesses that applied for a loan from a large bank receive the full amount requested Consumers with scores under 580 are rejected 5x more often than those with scores of 740+
Slide 9 — $293B1 U.S. Consumer
© Enova International, Inc. Large Growth Opportunities in Non-Prime Markets 9 $293B1 U.S. Consumer Loans $285B2 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 = 300-600, Near Prime = 601-660, Prime = 661-720, Prime Plus = 721-780, Super Prime = 781+ Q3 2025 Q3 2026 1. According to TransUnion Credit Industry Insights Data as of Q3 2026. Does not include secured balances or balances not reported to credit bureaus 2. According to FDIC Quarterly Banking Profile: C&I Loans (less than $250K) to Small Businesses as of Q2 2026 12% 19% 24% 23% 22% Subprime Near Prime Prime Prime Plus Super Prime 12% 18% 24% 23% 23%
Slide 10 — Highly Flexible Online-Only Business Model
© Enova International, Inc. ONLINE Operating Leverage Ability to adjust expenses quickly to adapt to changes in business 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 Apply and manage account anytime and anywhere privately from desktop or mobile devices with secure systems to protect sensitive information Highly Flexible Online-Only Business Model 10 Source: American Bankers Association published November 2025 BRICK AND MORTAR Lack of variability in cost structure of physical locations to business activity Costly and difficult supervision and training for multiple locations Limitations & Restrictions Limited Ability to Repay analysis or limited offer based on industry common scoring Safety & Privacy Variables Requires travel to physical location, standing in line to apply for funds in public, storage of records in multiple locations and customer re-visits for account management “For the sixth year in a row, U.S. consumers are conducting their banking via mobile apps more than any other method. 54% of bank customers use apps on phones or other mobile devices as their top option for managing their bank account. The next most popular banking methods include visiting a branch (9%), ATMs (6%) and telephone calls (4%).”
Slide 11 — Enova Uses
© Enova International, Inc. Multichannel marketing creates flexibility to optimize customer acquisition and builds longer-term customer relationships Enova Uses Diversified Multichannel 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 efforts include PPC, display, SEO, marketing affiliate 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 supported by its analytics capabilities, technology infrastructure and key vendors. 11
Slide 12 — 90%
© Enova International, Inc. Machine Learning Models and Automation Are Applied Extensively Across the Customer Life Cycle 12 ACQUISITION ML models trained on 40+ million data points predict likelihood of acquiring a new customer FRAUD DETECTION Automation used to automatically respond to real-time fraud attacks and models retrained daily to learn and mimic the decisions of fraud operations staff UNDERWRITING ML models provide a 40% improvement in repayment predictability versus credit bureau scores alone and 85% of underwriting decisions are fully automated LOAN PROCESSING Underwriting decisions that are not fully automated use ML models to auto verify >80% loans based on electronic bank statements and employment data COLLECTIONS ML models improve collections yield by prioritizing dialers and optimizing settlement strategies 90% of Models are Machine- Learning Enabled The Colossus™Analytics Engine creates a powerful competitive advantage
Slide 13 — Proprietary Technology With Better Predictive
© Enova International, Inc. Proprietary Technology With Better Predictive Performance Than Traditional Credit Models 13 Enova Credit Modeling: Performance vs Standard Scoring 1. ROC Curves—Receiver Operating Characteristics Curves (True Positives versus False Positives). This graph should not be considered to be an indicator of future performance. Depictions of Enova study using a random sample from its NetCredit applicant pool (the “population”). As one moves up the Y axis and along the X axis, more of the population is included. The population is ordered by perceived creditworthiness so that at the bottom left of the graph, only the most creditworthy customers are included in the population. At the top right, 100% of the population is included, with the least creditworthy parts of this population being the last included
Slide 14 — Strong Credit Performance Through Economic Downturn
© Enova International, Inc. Small Business Loans1,5,6 —% 5.0% 10.0% 15.0% 20.0% Q1 20 18 Q2 20 18 Q3 20 18 Q4 20 18 Q1 20 19 Q2 20 19 Q3 20 19 Q4 20 19 Q1 20 20 Q2 20 20 Q3 20 20 Q4 20 20 Q1 20 21 Q2 20 21 Q3 20 21 Q4 20 21 Q1 20 22 Q2 20 22 Q3 20 22 Q4 20 22 Q1 20 23 Q2 20 23 Q3 20 23 Q4 20 23 Q1 20 24 Q2 20 24 Q3 20 24 Q4 20 24 Q1 20 25 Q2 20 25 Q3 20 25 Q4 20 25 Q1 20 26 Q2 20 26 Q3 20 26 >30 days delinquent as a % of loan and finance receivable balance Charge-offs (net recoveries) as a % of average loan and finance receivable balance Strong Credit Performance Through Economic Downturn 14 Enova’s consistent performance, even amid recent unprecedented times, reflects our solid risk management capabilities on our world-class analytics and technology. 1. Data shown excludes discontinued operations 2. Amounts as a % of loan balance are determined using period-end balances 3. Non-GAAP 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 beginning 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 beginning October 13, 2020 Consumer Loans1,2,3,4 —% 5.0% 10.0% 15.0% 20.0% Q1 20 18 Q2 20 18 Q3 20 18 Q4 20 18 Q1 20 19 Q2 20 19 Q3 20 19 Q4 20 19 Q1 20 20 Q2 20 20 Q3 20 20 Q4 20 20 Q1 20 21 Q2 20 21 Q3 20 21 Q4 20 21 Q1 20 22 Q2 20 22 Q3 20 22 Q4 20 22 Q1 20 23 Q2 20 23 Q3 20 23 Q4 20 23 Q1 20 24 Q2 20 24 Q3 20 24 Q4 20 24 Q1 20 25 Q2 20 25 Q3 20 25 Q4 20 25 Q1 20 26 Q2 20 26 Q3 20 26 >30 days delinquent as a % of combined loan and finance receivable balance Charge-offs (net recoveries) as a % of average combined loan and finance receivable balance OnDeck included beginning October 13, 2020
Slide 15 — Improved Portfolio Risk Profile
© Enova International, Inc. Improved Portfolio Risk Profile 15 Enova’s powerful combination of diversified product offerings, world-class 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-GAAP measure 3. The average combined loan and finance receivable balance is the average of the month-end balances during the period. Includes OnDeck data beginning October 13, 2020 Total Company Metrics1,2,3 —% 20.0% 40.0% 60.0% 80.0% —% 4.0% 8.0% 12.0% 16.0% 20.0% Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Adjusted EBITDA Margin % Total Company Charge-Off % Charge-offs (net recoveries) as a % of average combined loan and finance receivable balance Adjusted EBITDA as a percentage of total revenue
Slide 16 — Demonstrated Ability to Diversify While Delivering Returns
© Enova International, Inc. Demonstrated Ability to Diversify While Delivering Returns 16 Combined Receivables and Returns1,2 1. Including loans issued as part of our CSO program and, through 2018, loans from discontinued operations 2. ROE is based on trailing twelve months Adjusted Net Income 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026 Consumer Installment Loans Consumer Line of Credit Small Business Total Company Return on Equity %
Slide 17 — Small Business
© Enova International, Inc. Small Business 17
Slide 18 — Diverse Portfolio of Established Small Businesses
© Enova International, Inc. Diverse Portfolio of Established Small Businesses 18 375K+ Unique small business clients $588K Median annual revenue 12.8yrs Weighted avg. time in business Diversified Across 900+ industries Broad National Presence Portfolio Balance by Industry1 Reasons for Seeking Business Funding2 1. As of September 30, 2026 all OnDeck Term Loans and Lines of Credit, excluding international 2. As of September 30, 2026. Research from Enova, 860 OnDeck customers (select all that apply) 70% 31% 27% 27% 26% 26% 19% 17% 12% 2% General cashflow Business expansion Cover an unexpected business expense Cover delayed payments from customers Debt consolidation Equipment purchase or repair Increase business revenue Inventory Hire/Train staff Other 19% 15% 11% 8% 8% 7% 7% 4% 4% 17% Construction Professional, Scientific, and Technical Services Health Care and Social Assistance Retail Trade Manufacturing Other Services (except Public Administration) Administrative and Support and Waste Management and Remediation Services Accommodation and Food Services Transportation and Warehousing All Other
Slide 19 — +36M
© Enova International, Inc. U.S. Small & Medium-Sized Businesses SMB Total Addressable Market (TAM) 19 U.S. Commercial & Industrial Loan Portfolio (at FDIC-insured institutions only) 1. According to U.S. SBA Office of Advocacy, Frequently Asked Questions About Small Business 2026 (Feb. 2026) 2. 2025 Small Business Credit Survey, Federal Reserve Banks published March 2026 3. Enova SMB Loan and Finance Receivable Portfolio (less than $250K) as of September 30, 2026 4. According to FDIC Quarterly Banking Profile: C&I Loans (less than $250K) to Small Businesses as of Q2 2026 +36M 99.9% of Businesses in the U.S. are SMBs1 $285B 4 Business loans under $250K “78% of loan applications are less than $250K” 2 +375K Enova SMB unique U.S. small businesses served +$3.6B 3 Enova SMB loans under $250K
Slide 20 — Enova Helps Small Business Owners Gain Access to Capital
© Enova International, Inc. Enova Helps Small Business Owners Gain Access to Capital 20 Small Business Gross Accounts Receivable1,2 1. Includes OnDeck originations beginning Q4 2020 after acquisition on October 13, 2020 2. Gross Accounts Receivables are end of period balances ($ in Millions) $80 $85 $181 $691 $1,017 $1,797 $2,050 $2,484 $3,329 $2,974 $3,985 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2025 Q3 2026
Slide 21 — Consumer
© Enova International, Inc. Consumer 21
Slide 22 — Enova Is A Market-Leading U.S. Non-Prime Lender
© Enova International, Inc. Enova Is A Market-Leading U.S. Non-Prime Lender 22 13M+ Total Consumers Served To Date 590 Weighted Average Vantage® Score $44K Average Personal Income 35% Homeownership Diversified National Presence Broad Across Non-Prime Consumers Top Non-Prime Loan Use:1 Customer response to ”How would you describe yourself?”:1 Emergency Expense or Repair Debt Consolidation Regular Expenses/ Monthly Bills Rent/Mortgage Pay a bill to avoid service disconnect 58% 26% 12% 2%1%1% White Black or African American Hispanic or Latino American Indian or Alaska Native Asian Native Hawaiian or Other Pacific Islander 1. Reasons for loan and Race/Ethnicity data was collected via a survey of 584 CashNetUSA & NetCredit customers in December 2025
Slide 23 — +$34B
© Enova International, Inc. U.S. Subprime Unsecured U.S. Consumer Total Addressable Market (TAM) 23 U.S. Near Prime 1. TransUnion Credit Industry Insights Data as of Q3 2026 +$34B 1 Over 11% of U.S. Borrowers Have Subprime Credit1 +$54B 1 Over 18% of U.S. Borrowers Have Near Prime Credit1 ~1% Estimated CashNetUSA share of Subprime market ~3% Estimated NetCredit share of Near Prime market
Slide 24 — High Quality Consumer Products to Close the Credit Gap
© Enova International, Inc. High Quality Consumer Products to Close the Credit Gap 24 Consumer Gross Accounts Receivable1,2 1. Gross Accounts Receivables are end of period balances 2. Data shown includes CashNetUSA, NetCredit, Align, and Simplic Gross Accounts Receivable ($ in Millions) $782 $869 $1,086 $629 $941 $1,056 $1,263 $1,507 $1,596 $1,547 $1,913 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2025 Q3 2026
Slide 25 — Trusted Products Drive High-Rated Reviews
© Enova International, Inc. 25 Trusted Products Drive High-Rated Reviews Online Reviews via TrustPilot as of October 2026
Slide 26 — Financial Performance
© Enova International, Inc. Financial Performance 26
Slide 27 — History of Consistent Revenue and Profit Growth
© Enova International, Inc. 27 History of Consistent Revenue and Profit Growth Gross Revenue For All Brands1,2,3 Adjusted EBITDA and Margin2,3 ($ in Millions) Margin 18.3% 19.0% 20.8% 23.5% 38.3% 39.2% 25.5% 23.8% 24.7% 26.0% 26.4% ($ in Millions) 1. From continuing operations using incurred method of accounting in effect through December 2019. Enova elected the fair value option of accounting effective January 1, 2020 2. Includes OnDeck data beginning October 13, 2020 3. Adjusted EBITDA defined as net income excluding depreciation, amortization, interest, foreign currency transaction gains or losses, taxes, stock-based compensation expense and certain other items, as appropriate, that are not indicative of our core operating performance $118 $138 $202 $276 $415 $473 $443 $503 $657 $821 $963 $0 $200 $400 $600 $800 $1,000 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 LTM Q3 2026 CAGR: 24.1% $746 $844 $973 $1,175 $1,084 $1,208 $1,736 $2,118 $2,658 $3,152 $3,653 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 LTM Q3 2026
Slide 28 — Demonstrated Operating Leverage
© Enova International, Inc. Demonstrated Operating Leverage Enova Key Metrics1,2,3 28 1. Gross loan and finance receivables balances outstanding include loan arrangements extended by unrelated third parties 2. From continuing operations using incurred method of accounting in effect through December 2019. Enova elected the fair value option of accounting effective January 1, 2020 3. Includes OnDeck data beginning October 13, 2020 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 LTM Q3 2026 Loans and Finance Receivables Outstanding Revenue O&T and G&A Expenses CAGR: 12% CAGR: 20% CAGR: 26%
Slide 29 — Balance Sheet Flexibility Is a Source of Strength
© Enova International, Inc. Domestic Cash Balance (Restricted + Unrestricted) 29 Tangible Capital to Tangible Assets3 Balance Sheet Flexibility Is a Source of Strength 1. Total U.S. debt outstanding at September 30, 2026, of $5,405M, including a $0.4M Letter of Credit in the Revolver. Canadian and Australian OnDeck warehouses and Pangea debt not included 2. Includes stated final maturity dates for debt outstanding as of September 30, 2026 3. Tangible Capital / Tangible Assets = [SE – (Goodwill + Intangible Assets)] / [Quarterly Total Tangible Assets]. Tangible Assets is calculated as Total Assets less Goodwill and Intangible Assets Funding Mix and Capacity1 Enova Debt Maturities2 $250 $250 $250 $169 – – – $375 $375 $375 $375 – – – $400 $400 $400 $400 $500 $500 $500 $1 $201 $310 $357 $454 $596 $713 $225 $249 $1,031 $1,061 $1,195 $1,470 $1,576 $87 $320 $300 $606 $1,044 $1,559 $2,215 $453 $488 $533 $659 $944 $649 $817 2020 2021 2022 2023 2024 2025 Q3 2026 Senior Note 2024 Senior Note 2025 Senior Note 2028 Senior Note 2029 Revolver Utilized Secured Wareh ouses Term ABS Revolvin g Capacity $0 $500 $1,000 $1,500 $2,000 $2,500 2026 2027 2028 2029 2030 2031 2032 Debt Outstanding Available Capacity 15.8% 22.3% 37.8% 38.0% 28.0% 26.2% 25.9% 25.3% 19.7% 19.0% 17.6% 17.6% 17.0% 17.4% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026 $0 $100 $200 $300 $400 $500 $600 $700 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Slide 30 — Appendix
© Enova International, Inc. Appendix 30
Slide 31 — Proactive
© Enova International, Inc. Proactive Global Compliance Capabilities Enova has a compliance framework that includes: ● Focus on tone from the top to instill an ethical culture ● Centralized team led by experienced compliance professionals: ○ Chief Compliance Officer reports directly to Board of Directors ○ Multiple CRCM/CAMS accreditations ● Policies, procedures and other controls focused on compliance and the fair treatment of customers ● Regulatory framework built into technology platform and the business model ● Training of employees on compliance requirements and transparency around pricing and other key aspects of its products ● A comprehensive risk assessment and monitoring and testing program ● Early warning signals on new regulations and other legal risks 31
Slide 32 — Key Changes to Financial Reporting Under Fair Value
© Enova International, Inc. Balance Sheet 32 Income Statement Key Changes to Financial Reporting Under Fair Value (+) Day 1 Gain on Originations (-) Realized Value on Existing Receivables (-) Net Charge Offs (+) (-) Change in FV Assumptions Revenue – Change in Fair Value Net Revenue Net Revenue Margin % (+) Higher originated principal (at consistent mix) (-) Higher new customer mix (+) Lower credit losses and loss expectations (-) Higher credit losses and loss expectations (+) Lower customer prepayments versus expectations (-) Higher customer prepayments versus expectations Net Revenue margin % Net Revenue margin % Beginning Fair Value Balance Ending Fair Value Balance Originated Principal Principal Payments Change in Fair Value
Slide 33 — Consolidated Income Statements
© Enova International, Inc. Consolidated Income Statements 33 1. Unaudited Consolidated Statements of Income 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended YTD (in millions) Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Sept. 30, 2021 2022 2023 2024 2025 20261 Revenue $1,208 $1,736 $2,118 $2,658 $3,152 $2,813 Cost of Revenue / Change in FV (184) (618) (888) (1,128) (1,321) (1,102) Net Revenue 1,024 1,118 1,230 1,530 1,830 1,711 Operating Expenses Marketing 271 383 415 524 621 623 Operations and technology 148 174 195 224 258 231 General and Administrative 157 140 160 157 170 138 Depreciation and amortization 35 37 38 40 42 28 Total Operating Expenses 611 734 808 945 1,090 1,020 Income from Operations 413 384 422 585 739 691 Interest expense, net (77) (116) (195) (290) (339) (295) Foreign currency transaction gain (loss) - (1) - (1) - (1) Equity method investment income (loss) 3 6 - (17) 2 1 Other nonoperating expense (2) (1) - (6) (1) (1) Income before Income Taxes 337 272 227 271 401 395 Provision for income taxes 80 65 52 62 93 92 Net income from continuing operations before noncontrolling interest 256 207 175 209 308 303 Less: Net income (loss) attributable to noncontrolling interest 1 - - - - - Net Income from Continuing Operations $256 $207 $175 $209 $308 $303
Slide 34 — Consolidated Balance Sheets
© Enova International, Inc. Consolidated Balance Sheets 34 1. Debt shown is net of deferred loan issuance costs and discounts 2. Unaudited Consolidated Balance Sheets As of As of As of As of As of As of (in millions) Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Sept. 30, 2021 2022 2023 2024 2025 20262 Assets Cash and restricted cash $226 $178 $377 $323 $408 $497 Loans and finance receivables, net 1,965 3,019 3,629 4,386 5,472 6,596 PP&E, net 78 93 109 120 132 141 Goodwill and Intangible assets, net 315 307 298 290 283 281 Other assets 177 184 172 147 173 181 Total Assets $2,761 $3,781 $4,585 $5,266 $6,468 $7,696 Liabilities and Stockholder’s Equity Debt1 $1,384 $2,259 $2,944 $3,563 $4,498 $5,377 Other liabilities 284 336 401 506 633 750 Total Liabilities 1,668 2,595 3,345 4,069 5,131 6,127 Total Stockholder’s Equity 1,093 1,186 1,240 1,197 1,337 1,569 Total Liabilities and Stockholder’s Equity $2,761 $3,781 $4,585 $5,266 $6,468 $7,696
Slide 35 — Reconciliation of Non-GAAP Financial Measures
© Enova International, Inc. Reconciliation of Non-GAAP Financial Measures 35 1. In the first, second and third quarters of 2026 and the fourth quarter of 2025, the Company recorded costs related to the planned acquisition of Grasshopper Bancorp, Inc. and its wholly-owned subsidiary Grasshopper Bank 2. In the second quarter of 2022, the Company recorded equity method investment income that was comprised primarily of a gain on Linear's sale of its operating company, partially offset by a loss on the sale of OnDeck Canada. In the third quarter of 2024, the Company recorded an equity method investment loss related to the write-down of its investment in Linear 3. In the first quarter of 2024, the Company recorded costs related to a consent solicitation for the Senior Notes due 2025 4. In the third quarter of 2021, the Company recorded a gain upon the exit of leased office space 5. In the fourth quarter of 2023, the Company consented to the issuance of a Consent Order by the Consumer Financial Protection Bureau, or the CFPB, pursuant to which it agreed, without admitting or denying any of the facts or conclusions made by the CFPB, to pay a civil money penalty of $15.0 million, which is nondeductible for tax purposes Net Income to Adjusted EBITDA 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended 12 Mo. Ended (in millions) Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Sept. 30, (unaudited) 2021 2022 2023 2024 2025 2026 Net income $256.3 $207.4 $175.1 $209.4 $308.4 $382.4 Depreciation and amortization expenses 35.4 36.9 38.2 40.2 41.8 37.0 Interest expense, net 75.9 115.9 194.8 290.4 339.3 384.4 Foreign currency transaction loss (gain) 0.4 (0.6) (0.1) 1.1 (0.4) 0.4 Provision for income taxes 80.1 65.2 52.1 61.7 92.6 112.2 Stock-based compensation expense 21.2 22.0 26.7 31.8 33.1 35.4 Transaction-related costs1 1.4 0.7 0.8 0.3 6.6 12.1 Equity method investment (income) loss2 (3.0) (6.4) (0.1) 16.5 (1.6) (1.9) Other nonoperating expenses3 1.9 1.3 0.3 5.7 1.0 0.6 Lease termination and cease-use costs4 3.3 - - - - - Regulatory settlement5 - - 15.2 - - - Adjusted EBITDA $473.0 $442.8 $503.0 $657.1 $820.9 $962.6
Slide 36 — Thank you.
Customer first. Best answer wins. Operate as an owner. Thank you. Accountable for results. Top talent and teamwork.