#1Investor Presentation March 2022 affírm) 9:41 You're prequalified to Pay in 4 with Affirm GOOD MORNING, ALEX SHOP YOUR FAVORITE STORES Shop $2,000 Prequalified to spend Where are you shopping? Shop now % As low as 0% APR EXPIRES IN 4 DAYS Get as low as 0% APR on Prime Day A Shop Virtual card PENT REY STIN m In store#2Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including statements regarding: the Company's strategy and future operations, including the Company's partnerships with Amazon and Shopify; the development, innovation, introduction and performance of the Company's products, including the Debit+ Card; acquisition and retention of merchants and consumers; the Company's future growth, investments, network expansion, product mix, brand awareness, financial position, gross market value, revenue, transaction costs, operating income, provision for credit losses, and cash flows; and general economic trends and trends in the Company's industry and markets. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Risks, uncertainties and assumptions include factors relating to: the Company's need to attract additional merchants and consumers and retain and grow its relationships with existing merchants and consumers; its need to maintain a consistently high level of consumer satisfaction and trust in its brand; the concentration of a large percentage of its revenue with a single merchant partner; its ability to sustain its revenue growth rate or the growth rate of its related key operating metrics; the highly competitive nature of its industry; the terms of its agreement with one of its originating bank partners; its existing funding arrangements that may not be renewed or replaced or its existing funding sources that may be unwilling or unable to provide funding to it on terms acceptable to it, or at all; its ability to effectively underwrite loans facilitated through its platform and accurately price credit risk; the performance of loans facilitated through its platform; changes in market interest rates; its securitizations, warehouse credit facilities and forward flow agreements; the impact on its business of general economic conditions, the financial performance of its merchants, and fluctuations in the U.S. consumer credit market; its ability to grow effectively through acquisitions or other strategic investments or alliances; and other risks that are described in its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and in its other filings with the U.S. Securities and Exchange Commission. These forward-looking statements reflect the Company's views with respect to future events as of the date hereof and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and the Company assumes no obligation and does not intend to update these forward-looking statements. Use of Non-GAAP Financial Measures To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we present revenue less transaction costs as a non-GAAP financial measure. A definition of revenue less transaction costs appears as part of this presentation, and revenue less transaction costs is reconciled to GAAP total revenue by adding back the transaction costs for the applicable period. In addition, when providing information about our forecasted future financial performance, in addition to revenue less transaction costs, we provide the non-GAAP financial measures revenue less transaction costs as a percentage of GMV, revenue less transaction costs as a percentage of revenue, adjusted other operating expenses as a percentage of revenue, and adjusted operating margin. Reconciliations of these additional non-GAAP measures to the comparable GAAP measures is not available without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Our management uses these non-GAAP financial measures in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including the preparation of our annual operating budget, as a measure of our operating results and the effectiveness of our business strategy, and in evaluating our financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, and our use of these non-GAAP financial measures has limitations as an analytical tool. Accordingly, you should not consider these non-GAAP financial measures in isolation or as substitutes for analysis of our financial results as reported under GAAP, and these non-GAAP measures should be considered along with other operating and financial performance measures presented in accordance with GAAP. Industry and Market Data This presentation contains estimates and information concerning our industry, including market position and the size and growth rates of the markets in which we participate, that are based on industry publications and reports or other publicly available information. Industry surveys and publications generally state that the information contained therein has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy and completeness of the included information. We have not independently verified this third-party information. affirm 2#3Our Mission: Deliver Honest Financial Products that Improve Lives affirm#4affirm 9:41 Shop Where are you shopping? Popular right now Peloton Expedia Telek The Real- Nik Target Vour stores Best Buy View all Priceline SAMS TIMANACOT Investment Summary Fintech category leader with massive growth and rapidly expanding market opportunities Powerful two-sided network with growing consumer and merchant bases reinforcing one another Product advantages driven by superior technology, underwriting, risk management and capital markets expertise Compelling business model with strong growth and attractive unit economics at scale 4#5Fintech Category Leader affirm#6Large and Rapidly Expanding Market Opportunity affirm 2021 $900B $34B $12B North America E-commerce market BNPL Affirm GMV 1. Gross Merchandise Volume ("GMV") defined as the total dollar amount of all transactions on the Affirm platform for the twelve months ending December 31, 2021, net of refunds $750B 1.6% 2020A North America E-commerce spend Source: emarketer, Statista & Worldpay FIS $900B 3.8% 2021A $1,500B 8.5% 2025P BNPL share of North America E-commerce spend 6#7Affirm's Integrated Partners Address More than 60% of U.S. Retail E-Commerce Sales Amazon affirm Shopify Walmart eBay Apple Home Depot Target Best Buy Costco Wayfair 2.2% 2.0% 1.8% 1.6% 1.3% 4.2% 4.0% Source: eMarketer, October 2021 6.6% 10.3% 41.0% Affirm US merchant partners Affirm Canada merchant partner 7#8Leadership Driven by Durable Competitive Advantages Trusted brand for the next generation of consumers and merchants affirm Powerful network of merchants and consumers sic Technology is a core competitive advantage Compelling business model ● ● ● ● ● Proven highly-effective demand generation and customer acquisition tools for merchants Reinforcing network effects expanding over time Purpose-built technology infrastructure creating differentiated and scalable products Proprietary data and risk models generating better outcomes Driving hyper growth Attractive unit economics Efficient capital funding capabilities 8#9Powerful Two- Sided Network affirm#10Delivering Value for Consumers and Merchants FOR CONSUMERS Flexible payment term options Never pay more than agreed affirm No late fees or hidden charges Transparent and easy to understand affirm FOR MERCHANTS Data and Insights Minimize Discounting Greater Sales Satisfied Customers 10#11Platform Strengthens With Every Transaction affirm) / More Data Deeper Insights etter Experience More Consumers affirm $12B GMV¹ More Transactions 1. Twelve months ending December 31, 2021 Larger Ecosystem More Products More Merchants 11#12Advantages Position Affirm as Industry Partner of Choice Exceptional Technology Quality, Reliability, Scalability and Ease of Use Wide Breadth of Offerings with Ability to Address Broad Range of Transaction Types affirm Superior Risk Management Proprietary Underwriting and Capital Markets Expertise Affirm partners with half of the top 10 U.S. retailers and commerce platforms - more than the next two largest core BNPL providers combined Walmart Alignment & Transparency No Late or Hidden Fees shopify amazon O TARGET *wayfair American Airlines 9:41 Best Buy Prequalified $2000 How to shop with Affirm Tap Shop now to explore Best Buy When you're ready to check out, tap the card loon at the bottom of your screen to get a virtual card that you'll use to pay. You can also shop with the deals below Deals (8) Save up to $500 on select big screen TVs SAMSUNG Expedia View Al Shop now Shop 9:41 Popular right now a Your stores Expedie Target Where are you shopping? Nike Up to 40% Off Sale Deals of the week Amazon Base today's deals The Wayfair Be 12#13Partnerships Across Wide Range of Consumer Categories FY Q2 2021 Sporting Goods & Outdoors Home/ Lifestyle Fashion / Beauty General Merchandise Equipment/ Auto Electronics Travel / Ticketing affirm Other 1. 2. 3. 1% 4% GMV: $2.1B Active Merchants: 8K Active Consumers: 4.5M 9% 9% 11% 17% 17% 31% FY Q2 2022 Sporting Goods & Outdoors Home/ Lifestyle Fashion Beauty General Merchandise Equipment/ Auto Electronics Travel / Ticketing Other GMV: $4.5B Active Merchants: 168K Active Consumers: 11.2M 6% 7% 6% Gross Merchandise Volume ("GMV") defined as the total dollar amount of all transactions on the Affirm platform during the period, net of refunds Active Merchants defined as merchants which engaged in at least one transaction on Affirm's platform during the 12 months prior to the measurement date Active Consumers defined as consumers who engage in at least one transaction on Affirm's platform during the 12 months prior to the measurement date 11% 14% 13% 21% 23% 13#14Enterprise Strategy Drives Ubiquity and Growth Active Consumers (M) 1,229 $474 Gross Merchandise Volume ($M) 1.8 Active Merchants (K) Q1'19 1,489 affirm 1. 2. 3. $670 1,739 2.2 $694 2.6 2,045 $782 3.1 2,383 $861 3.6 2,965 $1,342 4.1 3,346 $1,231 4.8 3,618 $1,203 5.7 3,882 $1,476 6.5 4,493 $2,075 $2,257 7.9 5,364 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Gross Merchandise Volume ("GMV") defined as the total dollar amount of all transactions on the Affirm platform during the period, net of refunds Active Merchants defined as merchants which engaged in at least one transaction on Affirm's platform during the 12 months prior to the measurement date Active Consumers defined as consumers who engage in at least one transaction on Affirm's platform during the 12 months prior to the measurement date 11.5 Q3'21 shopify Launched General Availability 7,121 8,692 $2,484 $2,713 29.0 102.2 amazon Completed Initial POS Rollout 11,231 150% YoY $4,458 115% YoY 168.0 2030% YoY Q4'21 Q1'22 Q2'22 14#15Deep Connections with Consumers Drive Scale and Value affirm 1.5 0.6 0.8 Q1'20 2.4 0.9 1.5 Q2'20 2.0 0.7 1.3 1.8 0.6 1.2 Q4'20 2.2 0.6 1.6 Q3'20 ■Repeat Customer Transactions (M) Q1'21 218% Growth 3.8 1.1 2.7 4.0 1.1 2.9 Q3'21 5.0 1.3 3.7 Q2'21 ■New Customer Transactions (M) Q4'21 6.7 1.9 4.9 Q1'22 12.2 3.0 9.2 Q2'22 15#16Technology-Driven Competitive Advantage affirm#17Seamless Checkout Experience = affirm) solstice.com Merritt Belt Bag $500 4 interest-free payments or as low as $44/month. with affirm. Learn more Add to bag Solstice Your Bag solstice.com Solstice Merritt Belt Bag Quantity: 1 Q Checkout $500.00 Subtotal: $500.00 4 interest-free payments or as low as $44/month with affirm Pick a payment plan Choose the plan that's best for you-with not fees, ever. Payment options are subject to final eligibility and approval. Learn more PURCHASE AMOUNT $125.00/2 weeks APR 0.00% See details affirm $85.82 /month APR 10.00% $43.99/month APR Interest $0.00 There's no interest. Just pay for what you buy. ✓ No impact on your credit score. ✓ Pay every 2 weeks with debit or credit. Interest $14.92 Interest $500.00 8 weeks Total $500.00 6 months > Total $514.92 12 months > Total X Pick a payment plan Choose the plan that's best for you-with no Fees? Never. It's that simple. We don't charge fees, even if you pay late or early. With monthly plans, late payments may affect your credit score, and early payments can save you interest. affirm $85.82 /month There's no interest. Just pay for what you buy. ✓ No impact on your credit score. ✓ Pay every 2 weeks with debit or credit. APR 10.00% $43.99/month OK Interest $14.92 6 months Total $514.92 12 months > affirm Thank you for buying with Affirm! Please wait while we redirect you to Solstice for your order confirmation. Do not close your browser window. 17#18Strong Track Record of Innovation Integrated Checkout Pay over time with a 0% APR or interest-bearing loan at Affirm's partner merchants 12:00 affirm STEP 2 OF 4 Pick a payment plan You can split up your $1,200.00 purchase a few different ways. There are no hidden fees. affirm) $200.00/mo for 6 months TOTAL INTEREST (0% APRI $0.00 $105.61/mo for 12 months TOTAL INTEREST (10% APR) $67.32 $72.17/mo for 18 months TOTAL INTEREST 005 APRO $99.06 2013 Virtual Card Universally accepted method of payment on Visa rails 12:00 affirm Here's a one-time card to use at Casper shops This $1,200.00 card is for the exclusive use of John Smith at Casper shops. EXPIRES 03/22 123 4259 5409 3481 4034 all Loan details Edit amount This card is valid for 12:00:00 How do I use this card? > How do I use the virtual card? Cancel card > Where can I use the virtual card? 2016 Split Pay 0% APR biweekly payment option 9:41 affirm ACME RETAIL Buy now, pay over time Example payments for $250.00 $62.50/biweekly APR 0.00% Interest $0.00 all 4 payments Get started Total $250.00 No impact on your credit Your score won't be affected, and you'll never pay interest or late fees. Use your debit or credit card Pay every 2 weeks-4 interest-free payments. Payment options are offered by Affirm and are subject to eligibility check and may not be available in all states. California residents: Affirm Loan Services, LLC is licen by the Department of Business Oversight. Loans are or arranged pursuant to California Financing Law- 60DBO-111681. 2018 Marketplace Personalized data-driven product discovery 9:41 Shop Q Search for any store. Top picks ak Walmart. As low as 05 adidas 500 Personalize your shopping experience Shop Get started 0% APR Shop by category ST View all 2019 Savings FDIC-insured, interest-bearing savings account 12:00 + $2,120.30 Interest earned VTD $16.20 Withdraw Activity Deposit December 15, 2018 Savings balance Earned interest December 1, 2018 Deposit November 30, 2018 Deposit November 15, 2018 Deposited in March $120.00 Add money +$120.00 +$2.01 +$120.00 +$ 2020 18#19Accelerating Product Roadmap Cash Back and Rewards Adaptive CheckoutTM Dynamically provides optimized biweekly and monthly payment options in a single integrated checkout solution 12:00 1 X $120.94 /2 weeks APR 0.00% See details 110 $82.91 /month APR 10.00% $42.49 /month APR 10.00% affirm) See details See details affirm Interest $0.00 Interest $14.46 Interest $26.88 8 weeks > Total $483.75 6 months > Total $497.46 12 months > Total $509.88 2021 Offers loyalty rewards for engagement with Affirm 9:41 COACH priceline JOIN THE BETA! Cash in on Cash Back Shopping's better when it pays you back, so join Affirm Cash Back today. Shopping that pays Earn cash back when you pay in full with debit or credit at select stores the Affirm app. Rewards that grow Cash back is deposited into Affirm By continuing, I agree to Cash Back T Join Cash Back 2021 SuperApp Combines commerce, payments and financial services into one app 9:41 7 Your Target $56.33 payment due Friday. Make a Payment GOOD AFTERNOON, MAX You're prequalified to Pay in 4 with Affirm Shop ACCOUNTS $1,254+ You can spend Get as low as 0% APR in the App Shop now ● CASH BACK $103.32 Total earned 0% APR One-time- use card 000* I SAVE $321.09 Balance ML In-store 2022 Crypto Savings Allows customers to buy/sell crypto directly from savings account 9:41 Total holdings $15,800.55 Interest earned YTD $$32.18 Your current holdings m B Affirm Savings Affirm Savings .... 1234 Bitcoin Holdings Balance as of 1:50:12pm Portfolio Settings Crypto Interest YTD $8.55 Portfolio view Crypto Interest Manage Bitcoin accounts and services provided by NYDIG. See Terms. Bitcoin ist in is not insured by the FDIC. Bitcoin is security and NYDIG is not an SEC-registered exch Bitenin balances in your NYDIG account are not i by the Securities Investor Protection Corporatio m $15,792.00 Se $8.55 0.00022 BTC Beta Affirm Debit+ Debit card that supports debit transactions and also enables consumers to split eligible purchases into pay over time affirm debit+ ebit+ Beta 19#20Wide Breadth of Offerings Consumer Offerings affirm 0% APR Installment Loans Interest Bearing (IB) Installment Loans Split Pay, Four Biweekly Interest-Free Payments Merchant Services User Acquisition Data Analytics affirm) debit+ Returnly 9:41 O 9:41 Wednesday, September 8 Split your purchase now debit+Your $128.00 The Home Store purchase is splittable for the next 24 hours. 20#21Ability to Address Wide Range of Transaction Types Terms ranging from six weeks to 60 months, and cart sizes from $50 - $17,500+ Merchant Discount Rate APR Term Lengths Payment Frequency affirm Representative AOV¹ Split Pay Up to 8% 0% APR 6-8 weeks Bi-Weekly $100-250 Short Term 0% 4-8% 0% APR 3-12 months 1. Representative AOV is the illustrative average order value for typical merchants offering this product. All metrics are unaudited. Monthly $500-$750 Long Term 0% 8-15+% 0% APR 13-60 months Monthly $800-$1,200 Simple Interest- Bearing Up to 5% 10-30% APR 3-60 months Monthly $500-$1,000 21#22Sophisticated Technology Powers Platform Innovation Full Control • Adaptability of systems Predictability Unique Datasets ● ● AI/ML-Based Feedback Loop ● Product level information Consumer insights ● Real-time fraud decisions Sophisticated funding affirm Breadth & Depth of Data Fully Managed & Optimized Ledger Flexibility and Scale World Class Technology Team ¡T 22#23Data-Driven Insights Fuel Risk Management Risk Management Architecture Billions unique datapoints for algorithm 50M+ loans power and improve models affirm 40-80 specific inputs to detect fraud 500+ data points for risk management Affirm Can Approve More Customers with Lower Losses... 120% 100% 80% 60% 40% 20% 0% 150% 100% 50% 0 0% 1 2 3 4 0 1 2 Affirm Consumer Rank 5 Decile ...Or Take on Less Losses with the Same Amount of Customers 3 4 6 5 Decile 7 8 FICO Consumer Rank 6 7 9 10 8 9 10 1. For a given level of risk, our proprietary model is capable of accepting significantly more applications when compared to FICO's scoring methods through a superior ability to price risk. Alternatively, for any given consumer sub-segment, our model produces lower risk outcomes than FICO scoring. 23#24Compelling Business Model affirm#25Driving Hyper Growth with Attractive Economics Gross Merchandise Volume (GMV)¹ ($B) affirm 2.6 78% CAGR 4.6 FY 19 FY 20 8.3 FY 21 14.78+ FY 22E 264 FY 19 Total Revenue ($M) 70% CAGR 510 FY 20 870 FY 21 1,310+ FY 22E 54 FY 19 Revenue Less Transaction Costs² ($M) 123% CAGR 161 FY 20 1. Gross Merchandise Volume ("GMV") is the total dollar amount of all transactions on the Affirm platform during the applicable period, net of refunds. 2. Transaction Costs is a non-GAAP financial measure equal to the sum of loss on loan purchase commitment, provision for credit losses, funding costs, and processing and servicing expense. 3. FY 22 figures correspond to Affirm's FY22 Financial Outlook, as presented on March 14, 2022. All metrics are unaudited. 431 FY 21 600+ FY 22E 25#26Robust Access to Diversified Pools of Capital Diverse and durable funding model provides flexibility through four primary channels Warehouse Forward Flow Securitization - On Balance Sheet affirm Securitization Off Balance Sheet - Description Asset-backed debt; borrowing using loans as collateral Third-party loan sales Packaging loans into security; retaining risk Packaging loans into security; selling security Financial Products All IB, High & Low AOV 0% (excl. Split Pay) All High AOV 0% Funding Economics 2-4% Interest expense + Amortized debt Issuance costs ~1-5% Gain on sale 1-3% Interest expense + Amortized debt Issuance costs ~1-5% Gain on sale Advance Rates 80-90% 100% 90-99% 95-99% 26#27Disciplined Investment Approach Based on Growth GMV Growth Total Revenue Growth Revenue as a % of GMV Revenue Less Transaction Costs as a % of GMV Revenue Less Transaction Costs as a % of Revenue Adjusted Other Operating Expenses as a % of Revenue¹ Adjusted Operating Margin² affirm Actual FY 2020 77% 93% 11% 3% 32% 45% (13)% "Hyper Growth" Actual FY 2021 79% 71% 10% 5% 50% 48% 2% Outlook FY 2022P 78%+ 50%+ ~9% ~4% ~46% 57-59% (13)-(11) % "Growth" @ 30-40% GMV Growth 30-40% 20-30% ~8% 3-4% 37.5-50% 37.5-40% 0-10% "Long Term" @ <30% GMV Growth 6-8% 3-4% 37.5-50% 17.5-20% 20-30% FY 2022P growth rates and margins correspond to Affirm's latest FY22 Financial Outlook, as provided on March 14, 2022; "Growth" and "Long Term" Growth rates and margins correspond to Affirm's long-term financial framework presented on September 28, 2021. All metrics are unaudited. 1. Adjusted Other Operating Expenses is a non-GAAP financial measure that is equal to total operating expenses excluding (a) transaction costs; (b) depreciation and amortization; (c) stock-based compensation included in GAAP operating expenses; (d) the expense related to warrants and share-based payments granted to enterprise partners; and (e) certain other costs. 2. Adjusted Operating Margin is a non-GAAP financial measure that is equal to operating income (loss) excluding (a) depreciation and amortization; (b) stock-based compensation included in GAAP operating expenses; (c) the expense related to warrants and share-based payments granted to enterprise partners; and (d) certain other costs, divided by total revenue.. 27#28Well-Positioned for Continued Growth and Value Creation affirm Driving Hyper Growth Attractive Unit Economics Disciplined Investment Approach Efficient Capital Funding Capabilities Superior Risk Management 10:45 affirm) Debit+ Checking.... 2312 Updated 12 hours ago Recent Debit+ purchases Available to split Purchases Clark's computers 22 hours left Sandwich co Today Fix n' build 20 hours left Purchases $1,500.00 -$413.94 $800 $300.00 or 4 payments of $75.00 $13.95 Pending $100.00 or 4 payments of $25.00 Payments Account 28