#1FY Q1 2024 Earnings Supplement November 8, 2023 affirm#2Safe Harbor Statement/Use of Non-GAAP Financial Measures Cautionary Note About Forward-Looking Statements This document contains forward-looking statements within the meaning of Section 27A of 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 certain key merchants and commerce platforms as well as its engagement with existing and prospective originating bank partners; the development, innovation, introduction and performance of, and demand for, the Company's products, including Affirm Card; the Company's ability to maintain funding sources to support its business; acquisition and retention of merchants and consumers; the Company's future growth, investments, network expansion, product mix, brand awareness, financial position, gross merchandise volume, 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, partners and consumers and retain and grow its relationships with existing merchants, partners and consumers: the highly competitive and evolving nature of its industry: 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 and GMV with a small number of merchant partners and commerce platforms; its ability to sustain its revenue growth rate or the growth rate of its related key operating metrics; its ability to successfully maintain its relationship with existing originating bank partners and engage additional originating bank partners; its ability to maintain, renew or replace its existing funding arrangements and build and grow new funding relationships; the impact of any of its existing funding sources becoming 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; the impact of increases in market interest rates and negotiated interest rate spreads on its business; the terms of its securitizations, warehouse credit facilities and forward flow agreements; the impact on its business of general economic conditions, including the impact of inflation, increasing recessionary concerns, instability of financial institutions, the financial performance of its merchants, and fluctuations in the U.S. consumer credit market; its ability to achieve sustained profitability in the future: its ability to grow effectively through acquisitions or other strategic investments or alliances; seasonal or other fluctuations in its revenue and GMV as a result of consumer spending patterns: pending and future litigation, regulatory actions and/or compliance issues; developments in its regulatory environment; the impact of the reduction in its workforce announced in February 2023. including its ability to continue to attract and retain highly skilled employees; and other risks that are described in its most recent Annual Report on Form 10-K, 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. investors 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 the following non-GAAP financial measures: revenue less transaction costs, revenue less transaction costs as a percentage of GMV, adjusted operating loss and adjusted operating margin. We also present certain operating expenses on a non-GAAP basis, as well as those non-GAAP operating expenses as a percentage of GAAP total revenue. Definitions of each non-GAAP financial measure and reconciliations of each historical non-GAAP financial measure with the most directly comparable GAAP financial measure are included in this presentation. However, a reconciliation of adjusted operating loss to the comparable GAAP measure is not available on a forward-looking basis 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. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business. 2#3OUR MISSION Deliver Honest Financial Products that Improve Lives affirm#4FY Q1 2024 Operating & Financial Highlights affirm#5First Quarter FY'24 Highlights GROSS MERCHANDISE VOLUME ($B) $5.6 affirm) $4.4 62% Growth 28% Growth FY Q1'23 FY Q1'24 Notes: 1. Metrics are unaudited ACTIVE CONSUMERS (M) 14.7 69% Growth 16.9 15% Growth FY Q1'23 FY Q1'24 TRANS. PER ACTIVE CONSUMER 3.3 39% Growth 4.1 25% Growth FY Q1'23 FY Q1'24 REVENUE ($M) $362 34% Growth $497 37% Growth FY Q1'23 FY Q1'24 LO 5#6FY Q1 2024 Business Highlights affirm#7Gross Merchandise Volume Notes: 1. affirm 2 3. $2.7 $402 FY Q1'22 $4.5 $365 $3.9 $374 FY Q2'22 FY Q3'22 $4.4 $368 $4.4 $331 FY Q4'22 FY Q1'23 GMV ($B) GMV defined as the total dollar amount of all transactions on the Affirm platform during the period, net of refunds Average Order Value (AOV) defined as GMV divided by the number of transactions conducted on the Affirm platform during the period Metrics are unaudited $5.7 $307 FY Q2'23 AOV ($) $4.6 $323 $5.5 $317 FY Q3'23 FY Q4'23 28% Growth $5.6 $299 FY Q1'24 7#8Affirm Direct-to-Consumer Business Highlights Direct-to-Consumer GMV (1,2) $2,000 $1,500 $1,000 $500 ill Affirm Marketplace ($M) $224 million Affirm Card GMV || FY FY FY FY FY FY FY FY FY Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Affirm Card ($M) Affirm Card Active Consumers 500,000 400,000 300,000 200,000 100,000 0 FY Q1'23 FY Q2'23 FY Q3'23 (3) FY Q4'23 FY Q1'24 Notes: 1. Affirm Marketplace GMV is based on transactions initiated by Affirm through mobile app and website channels. 2. Affirm Card GMV includes transactions initiated by consumers via Affirm Card rather than through an Affirm direct integration checkout flow which may be initiated either through the Affirm app or via a physical card. 3. Active Consumer defined as a consumer who engages in at least one transaction on our platform during the 12 months prior to the measurement date, presented as of the end of the period. affirm 4. Metrics are unaudited. 8#9Power Transactions Across Diverse Channels affirm POS vs. Affirm¹ Transactions FY Q1 2024 22% Affirm¹ 78% Point of Sale Affirm Product Composition² FY Q1 2024 15% Pay in 4 (Bi-Weekly 0% APR) 11% Core 0% APR 74% Interest-Bearing 2,3 Notes: 1. Based on transactions initiated by Affirm through mobile app and website channels as well as Affirm Card 2. Beginning in Fiscal Q1 2023, Affirm modified the definition of its low Average Order Value product from Split Pay to Pay in 4. Pay in 4 includes volume from loan transactions with 0% APR and 6-8 week term lengths but now excludes volume from monthly installment loans with 0% APR and month term lengths 3. Excludes Debit (non installment and non Pay in 4 transaction volume) from the Affirm Card product 4. Metrics are unaudited 9#10Partnerships Across Wide Range of Categories FY Q1'24 Industry Gross Merchandise Volume Mix affirm General Merchandise Fashion / Beauty Travel / Ticketing Electronics Home / Lifestyle Equipment / Auto Sporting Goods and Outdoors Other 4% 6% 8% 8% 10% 17% 15% Notes: 1. Metrics are unaudited 2. Excludes volume from transactions facilitated through Affirm virtual card and Affirm Card at non-integrated merchants Category Volume Growth Q1 Year over Year % Change 33% +41% +13% +56% (0)% (5)% +12% (19)% +85% 10#11Active Consumers affirm Notes: 1. 2. 3. 8.7 2.3 FY Q1'22 11.2 2.5 12.7 2.7 14.0 3.0 15% Growth 14.7 3.3 FY Q2'22 FY Q3'22 FY Q4'22 FY Q1'23 Affirm Active Consumers (M) Transactions per Active Consumer 15.6 3.5 16.0 3.6 16.5 3.9 FY Q2'23 FY Q3'23 FY Q4'23 Returnly Active Consumers (M) 25% Transactions per Active Consumer Growth 16.9 4.1 FY Q1'24 Active Consumer defined as a consumer who engages in at least one transaction on our platform during the 12 months prior to the measurement date, presented as of the end of the period. Active Consumers includes consumers who engaged in at least one transaction on the PayBright and Returnly platforms during the 12 months prior to the measurement date and prior to the acquisitions of PayBright and Returnly by Affirm. A Returnly Active Consumer is defined as a consumer who engaged in at least one Returnly transaction and no Affirm transactions on our platform during the 12 months prior to the measurement date, presented as of the end of the period. Transactions per Active Consumer defined as the average number of transactions that an Active Consumer has conducted on our platform during the 12 months prior to the measurement date, presented as of the end of the period. Transactions per Active Consumer includes transactions completed by Active Consumers on the PayBright and Returnly platforms during the 12 months prior to the measurement date and prior to the acquisitions of PayBright and Returnly by Affirm 11 Metrics are unaudited#12Quarterly Transactions affirm Notes: 1. 6.7 1.9 4.9 FY Q1'22 Metrics are unaudited 12.2 3.0 9.2 10.5 2.0 8.5 12.0 1.9 10.1 42% Growth 13.3 1.9 11.3 18.4 2.6 15.9 14.4 1.6 12.7 17.4 1.7 15.7 FY Q2'22 FY Q3'22 FY Q4'22 FY Q1'23 FY Q2'23 FY Q3'23 FY Q4'23 Repeat Customer Transactions (M) First Time Customer Transactions (M) 91% Repeat Customers 18.8 1.7 17.1 FY Q1'24 12#13Active Merchants affirm Notes: 1. 102 70 32 FY Q1'22 Metrics are unaudited 168 112 56 FY Q2'22 207 136 71 235 152 83 9% Growth 245 157 88 243 153 90 246 153 92 FY Q3'22 FY Q4'22 FY Q1'23 FY Q2'23 FY Q3'23 > $1,000 TTM GMV (K) <= $1,000 TTM GMV (K) 254 158 96 17% Growth in Merchants with > $1k TTM GMV 266 163 103 FY Q4'23 FY Q1'24 13#14Revenue affirm) $269 9.9% $361 $355 Notes: 1. Metrics are unaudited 8.1% 9.1% $364 8.3% $362 8.2% FY Q1'22 FY Q2'22 FY Q3'22 FY Q4'22 FY Q1'23 Revenue ($M) $400 $381 7.1% FY Q2'23 % of GMV 8.2% FY Q3'23 $446 8.1% FY Q4'23 37% Growth $497 8.8% FY Q1'24 14#15Merchant Fee Rates Illustrative merchant fees, transaction fees, and virtual card network fees divided by product level GMV 15.0% 12.5% 10.0% 7.5% 5.0% 2.5% affirm -% Notes: 1. 2. 3. 4 FY Q1'22 FY Q2'22 FY Q3'22 FY Q4'22 FY Q1'23 Core 0% Long Core 0% Short FY Q2'23 Core IB FY Q3'23 FY Q4'23 FY Q1'24 Pay in 4 Includes lending transactions with Affirm integrated merchants in the US only Core 0% Long includes loans with term lengths greater than 12 months and 0% APR; Core 0% Short includes loans with term lengths at least three months long but less than or equal to 12 months and 0% APR: Core IB includes loans with interest: Pay in 4 (formerly known as Split Pay) includes loans with 0% APR and 6-8 week term lengths Excludes Non-Integrated Virtual Card and Affirm Card interchange rates (which are principally set by card networks), loans made outside of the US. PayNow transactions and Returnly transactions Metrics are unaudited 15#16Interest Income and Loans Held for Investment Composition $117 $38 33% $79 FY Q1'22 affirm 2. 3. Interest Income Composition ($ millions) $138 $55 40% $83 Notes: 1. FY Q2'22 $135 $45 $89 34% $138 $46 $91 34% $137 $39 $98 28% $155 $39 $116 25% $178 $39 $139 22% $215 $42 $173 19% FY Q3'22 FY Q4'22 FY Q1'23 FY Q2'23 FY Q3'23 FY Q4'23 Consumer & Other Interest Income ($M) Amortization of Discount ($M) Amortization of Discount as % of Total Interest Income $263 $45 $218 17% FY Q1'24 Composition of Average Loans Held for Investment ("LHFI") $2,134 $875 $1,259 41% $2,335 $957 $1,378 41% FY Q1'22 FY Q2'22 $2,464 $2,465 $961 $887 $1,503 39% FY Q3'22 $1,577 $1,633 36% $2,593 $959 FY Q4'22 37% $3,169 $1,172 $1,996 37% FY Q1'23 FY Q2'23 $3,716 $1,309 $1,300 $2,415 35% FY Q3'23 $4,476 $4,089 $1,298 Avg. Interest Bearing LHFI Balance Avg. 0% APR LHFI Balance 0% APR Balance % of Avg LHFI $2,781 32% FY Q4'23 $3,178 29% FY Q1'24 Amortization of discount is driven by either loan purchases from originating bank partners or the origination of loans with 0% APR or below market interest rates; Consumer & Other Interest Income consists primarily of interest charged to consumers over the term of the consumers' loans based on the principal outstanding 0% APR Loans Held For Investment include all loans that are not interest bearing, including Pay in 4 (formerly known as Split Pay) loans Metrics are unaudited 16#17Transaction Costs $157 5.8% FY Q1'22 affirm Notes: 1. 2. 3. $177 $172 4.0% Transaction Costs 4.4% FY Q2'22 FY Q3'22 $180 $179 4.1% 4.1% $255 Transaction Costs ($M) 4.5% $214 4.6% $264 % of GMV 4.8% $284 FY Q4'22 FY Q1'23 FY Q2'23 FY Q3'23 FY Q4'23 FY Q1'24 5.1% $94 3.5% FY Q1'22 Transaction Costs include Loss on loan purchase commitment, Provision for credit losses, Funding costs and Processing and servicing Transaction Costs ex-Provision include Loss on loan purchase commitment, Funding costs and Processing and servicing Metrics are unaudited $125 2.8% FY Q2'22 Transaction Costs ex-Provision $106 $107 2.7% FY Q3'22 2.4% $115 $149 $148 2.6% 2.6% FY Q4'22 FY Q1'23 FY Q2'23 FY Q3'23 Transaction Costs ex-Provision ($M) $169 3.2% 3.1% 3.3% $184 FY Q4'23 FY Q1'24 % of GMV 17#18Revenue Less Transaction Costs $112 4.1% FY Q1'22 affirm Notes: 1 2. 3. Revenue Less Transaction Costs $184 $182 $184 $182 4.1% FY Q2'22 4.7% 4.2% 4.2% $144 2.5% FY Q3'22 FY Q4'22 FY Q1'23 FY Q2'23 $167 3.6% $182 3.3% 16% YoY $212 % of GMV 3.8% FY Q3'23 FY Q4'23 FY Q1'24 $176 6.5% FY Q1'22 Revenue Less Transaction Costs ($M) Transaction Costs include Loss on loan purchase commitment. Provision for credit losses, Funding costs and Processing and servicing Transaction Costs ex-Provision include Loss on loan purchase commitment, Funding costs and Processing and servicing Metrics are unaudited Revenue Less Transaction Costs ex-Provision $236 5.3% $249 6.4% FY Q2'22 FY Q3'22 $257 5.8% FY Q4'22 $247 $251 5.6% 4.4% FY Q1'23 FY Q2'23 $233 Revenue Less Transaction Costs ex-Provision ($M) 5.0% FY Q3'23 $277 5.0% FY Q4'23 % of GMV 27% YoY $312 5.6% FY Q1'24 18#19Non-GAAP Operating Expenses $51 affirm Technology & Data Analytics $65 $67 19% 18% 19% 2. Notes: 1. $80 22% $84 23% $88 22% $78 20% $73 16% FY FY FY FY FY FY FY FY FY Q1 22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 $66 Technology & Data Analytics ($M) % of Revenue 13% $41 15% $49 14% Sales and Marketing $29 8% $39 11% $31 $25 7% 8% $16 4% $20 $18 4% 5% FY FY FY FY FY FY FY FY FY Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Sales and Marketing ($M) % of Revenue $66 24% General and Administrative $79 22% $84 24% $95 $93 26% 26% $88 22% $81 21% $75 17% General and Administrative ($M) % of Revenue $70 FY FY FY FY FY FY FY FY FY Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Non-GAAP operating expenses exclude (a) depreciation and amortization; (b) stock-based compensation included in GAAP operating loss; (c) expenses related to warrants and share-based payments granted to enterprise partners; and (d) certain other costs Metrics are unaudited 14% 19#20GAAP and Adj. Operating Income / (Loss) $(166) (62)% FY Q1'22 GAAP Operating Income / (Loss) (54)% $(196) Notes: 1. affirm) 2. 64)% $(227) (76)% $(277) (79)% $(287) (90)% FY FY FY FY Q2'22 Q3'22 Q4'22 Q1'23 Operating Income / (Loss) ($M) (81)% $(310) (55)% $(244) (42)% Operating Margin $(209) (17)% $(45) $(360) FY FY FY FY FY Q2'23 Q3'23 Q4'23 Q1'24 Q1'22 Adjusted Operating Income /(Loss) (2)% $(8) $4 1% (5)% (8)% $(29) $(19) (16)% $(62) FY FY FY FY FY Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Adj. Operating Income / (Loss) ($M) (2)% $(6) $15 3% $60 Adj. Op Margin 12% FY FY FY Q3'23 Q4'23 Q1'24 Adjusted Operating Income calculated as GAAP operating loss, excluding: (a) depreciation and amortization; (b) stock-based compensation included in GAAP operating loss: (c) expenses related to warrants and share-based payments granted to enterprise partners; and (d) certain other costs Metrics are unaudited 20#21Platform Portfolio and Funding Mix Notes: 1. 2. 3. 4 affirm) 5. 6. $5.0 $0.3 $2.4 $6.3 $0.5 $3.4 $1.6 4% $6.7 $0.8 $0.9 $3.4 $1.4 $7.1 $1.0 2% $1.1 $3.6 $1.7 3% $0.9 $7.3 $0.8 $3.8 $1.6 3% $0.7 FY Q1'22 FY Q2'22 FY Q3'22 FY Q4'22 FY Q1'23 $1.7 2% $1.0 On Balance Sheet (non-securitized) ($B) Off Balance Sheet (non-securitized) ($B) Equity Capital Req % Platform $8.4 $0.6 $4.1 $1.4 5% $2.3 $8.2 $0.5 $3.8 $1.9 6% $1.9 $8.7 $0.4 $3.9 $2.3 5% $2.2 FY Q2'23 FY Q3'23 FY Q4'23 On Balance Sheet (securitized) ($B) Off Balance Sheet (securitized) ($B) $9.0 $0.3 $4.2 $2.5 5% $2.1 FY Q1'24 On Balance Sheet (Non-Securitized) includes Loans Pledged as Collateral in warehouse financing vehicles or held by Affirm and consolidated on Affirm's balance sheet On Balance Sheet (Securitized) includes Loans Pledged as Collateral in securitizations and consolidated on Affirm's balance sheet Off Balance Sheet includes Loans Held by Third Parties and not consolidated on Affirm's balance sheet Off Balance Sheet (Securitized) includes Loans Pledged as Collateral in securitizations and not consolidated on Affirm's balance sheet Equity Capital Required is the sum of the balance of loans held for investment and loans held for sale, less the balance of funding debt and notes issued by securitization trusts as of the balance sheet date Metrics are unaudited 21#22Platform Portfolio Loans - Remaining Term Length Weighted average remaining term of Total and On Balance Sheet Platform Portfolio (in months), as of quarter end date 15 14 11 9 M FY Q1'22 Notes: 1. 2. affirm) 3 FY Q2'22 14 9 FY Q3'22 13 8 FY Q4'22 Total Platform Portfolio 13 9 FY Q1'23 12 11 FY Q2'23 12 Total Platform Portfolio includes loans owned by Affirm and third parties, on balance sheet portfolio includes loans owned by Affirm Excludes loans made internationally via Affirm or legacy Paybright business and excludes Returnly transactions Metrics are unaudited 11 FY Q3'23 On Balance Sheet Platform Portfolio 12 10 FY Q4'23 11 10 FY Q1'24 22#23Funding Capacity affirm) Notes: 1. 2. $7.3 68% FY Q1'22 $8.8 72% $9.0 74% $10.6 67% FY Q2'22 FY Q3'22 FY Q4'22 Funding Capacity ($B) $11.1 $10.5 80% $11.4 71% $11.7 75% 66% FY Q1'23 FY Q2'23 FY Q3'23 FY Q4'23 Total Platform Portfolio % of Funding Capacity $13.1 69% FY Q1'24 Metrics are unaudited The Company defines funding capacity as the total amount of committed funding provided by warehouse credit facilities, securitizations, and forward flow loan sale agreements available for the purchase or financing of loans. [Funding capacity also includes the utilized portion of uncommitted forward flow loan sale agreements as of the measurement date.] The Company believes that funding capacity is a useful performance indicator to both the Company and investors of its ability to fund loan transactions on the Affirm platform. 23#24Delinquency Performance: Monthly DQ30+ Notes: 1. affirm) 2 3. 4.0% 3.0% 2.0% 1.0% -% Jul Delinquencies (DQ) of 30+ days as % of Active Balances Excluding Pay in 4 Loans 2018 FY 2024 Sep 2019 2020 Dec 2021 2022 Data as of October 2023 US loans only, excludes Pay in 4 (formerly known as Split Pay) loan transactions with 0% APR and 6-8 week term lengths Metrics are unaudited 2023 Mar 2024 FY 2018 FY 2023 FY 2022 FY 2019 FY 2020 FY 2021 24#25Delinquency Performance: Monthly DQ30+ ex-Peloton Notes: 1. affirm) 2 3. 4.0% 3.0% 2.0% 1.0% -% Delinquencies (DQ) of 30+ days as % of Active Balances Excluding Pay in 4 and Peloton Loans Jul 2018 FY 2024 Sep 2019 2020 Dec 2021 2022 2023 Mar -2024 Data as of October 2023 US loans only, excludes Pay in 4 (formerly known as Split Pay) loan transactions with 0% APR and 6-8 week term lengths and loans made for Peloton purchases Metrics are unaudited FY 2018 FY 2019 FY 2022 FY 2023 FY 2020 FY 2021 25#26Delinquency Rates Ex-Pay in 4 30+ Days Delinquent FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 60+ Days Delinquent FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 90+ Days Delinquent FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 affirm September 30 3.9% 2.9% 2.5% 0.8% 1.5% 2.7% 2.4% 2.3% 1.6% 1.4% 0.5% 0.9% 1.6% 1.4% 1.0% 0.8% 0.6% 0.2% 0.4% 0.7% 0.7% Three Months Ending December 31 3.8% 2.5% 2.1% 0.8% 1.6% 2.4% 2.2% 1.4% 1.2% 0.4% 0.9% 1.5% 1.0% 0.7% 0.6% 0.2% 0.4% 0.7% Notes: 1. US loans only, excludes Pay in 4 (formerly known as Split Pay) loan transactions with 0% APR and 6-8 week term lengths 2. Metrics are unaudited March 31 2.9% 2.0% 1.9% 0.7% 2.1% 2.3% 1.7% 1.2% 1.1% 0.4% 1.2% 1.4% 0.8% 0.5% 0.5% 0.2% 0.5% 0.6% June 30 2.6% 1.9% 1.1% 0.9% 2.1% 2.1% 1.4% 1.1% 0.8% 0.5% 1.2% 1.2% 0.6% 0.5% 0.4% 0.2% 0.5% 0.5% 26#27Delinquency Rates Ex-Pay in 4 & Peloton 30+ Days Delinquent FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 60+ Days Delinquent FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 90+ Days Delinquent FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 affirm) Notes: 2. September 30 4.0% 3.3% 3.2% 1.4% 2.1% 3.2% 2.5% 2.3% 1.9% 1.8% 0.8% 1.2% 1.9% 1.5% 1.1% 0.9% 0.8% 0.4% 0.6% 0.9% 0.7% Three Months Ending December 31 3.8% 3.2% 2.9% 1.3% 2.1% 2.7% 2.2% 1.8% 1.7% 0.7% 1.2% 1.6% 1.0% 0.9% 0.8% 0.3% 0.6% 0.8% March 31 3.2% 2.7% 2.8% 1.2% 2.7% 2.5% 1.8% 1.6% 1.6% 0.7% 1.6% 1.5% 0.9% 0.7% 0.7% 0.3% 0.6% 0.7% US loans only, excludes Pay in 4 (formerly known as Split Pay) loan transactions with 0% APR and 6-8 week term lengths and loans made for Peloton purchases Metrics are unaudited June 30 2.9% 2.6% 1.8% 1.3% 2.5% 2.3% 1.6% 1.5% 1.3% 0.7% 1.4% 1.3% 0.7% 0.6% 0.6% 0.3% 0.6% 0.6% 27#2830+ Day Delinquency Performance Against Select Consumer Lenders affirm 6.0% 4.0% 2.0% -% Affirm Delinquencies of 30+ days as % of Active Balances Excluding Pay in 4 and Peloton Loans 6/30/2022 Issuer A 9/30/2022 Issuer B 12/31/2022 Issuer C Issuer D 3/31/2023 6/30/2023 dv01 Consumer Unsecured Index Affirm Issuer C % Non-Prime Receivables dv01 index Issuer A Issuer D Issuer B Affirm 9/30/2023 Notes: Select consumer lenders include Bread Financial, Capital One, Discover, and Synchrony Financial. Non-Prime receivable mix as of September 30, 2023 or most recently available period based upon publicly available data. Non-Prime is generally defined as a FICO score below 650 to 660. U.S. loans only. Affirm 30+ day delinquencies and non-Prime Receivables mix excludes Pay in 4 and Peloton loans. The dv01 consumer unsecured index looks at over 4.9 million active loans from leading U.S. online consumer lenders. dv01 delinquency data is owned by, and used with the permission of, dv01, Inc. and may not be reproduced or redistributed outside of this letter without dv01, Inc.'s prior consent. 43% n.a. 27% 31% 19% 43% 28#29Loans Held for Investment by ITACS Score ($ in 000s) September 30 December 31 2021 2021 Amortized Cost Basis of Loans Held for Investment by ITACS Score $ 1,402,266 $ 1,392,997 $ 96+ 94-96 90-94 <90 No score Total loan receivables 96+ 94-96 90-94 <90 No score 451,859 Total loan receivables 171,723 55,738 148,231 63 % 20 % Percentage of Amortized Cost Basis of Loans Held for Investment by ITACS Score 8 2 7 190,797 $ 2,229,817 $ 2,433,340 $ 2,486,088 % % 532,108 % 229,844 100 % 87,594 57 % 22 9 4 % % % March 31 2022 8 % 1,409,388 100 % 584,290 232,187 59,753 200,470 57 24 9 % % % 2 % 8 % 100 % June 30 2022 $ 1,374,223 632,431 223,952 44,437 210,491 Three Months Ending September 30 2022 55 % 25 % 9 % 2 % 8 00 % $ 100 % 1,539,374 663,923 161,883 34,795 $ 2,485,534 $ 2,665,384 $ 3,622,993 265,409 58 % 25 6 1 % % % 10 % December 31 2022 100 % $ 2,211,085 900,297 127,076 28,979 355,556 61 % 25 4 1 % % % 10 % 100 % March 31 2023 $ 2,322,665 $ 2,689,847 905,258 107,785 19,589 386,419 62 % 24 % 3 % 1 $ 3,741,716 $ 4,361,965 10 % June 30 2023 % 100 % 1,112,832 137,088 14,992 407,206 Notes: 1. Metrics are unaudited affirm) 2. Table presents ITACS score distribution of the unpaid principal balance of loans held for investment 3. Balance for loans with "No score" represents loan receivables in experimental products or new markets without sufficient data currently available for use by the Affirm scoring methodology 62 % 26 % 3 % I % 9 % 100 % September 30 2023 $ 2,724,435 1,183,422 163,444 16,013 415,077 $ 4,502,391 61 % 26 % 4 % I % 9 % 100 % 29#30Q1'24 Loan Balance and Net Charge-offs by Loan Origination Year ($ in 000s) as of September 30, 2023 2024 Amortized Cost Basis by Fiscal Year of Origination Total $ Current period charge-offs Current period recoveries Current period net charge- offs affirm) Notes: 1. Metrics are unaudited 2,101,132 $ (1,329) 17 (1,312) 2023 2,308,862 $ (65,283) 2,830 (62,453) 2022 76,307 (3,916) 2,399 (1,517) $ 2021 15,555 (234) 275 41 $ 2020 299 (46) 5 (41) $ Prior 237 (34) 27 (7) $ Total 4,502,391 (70,843) 5,553 (65,290) 30#31Allowance and Loans Held for Investment affirm) 6.8% $152 FY Q1'22 6.5% $158 $159 IIII FY Q3'22 FY Q4'22 Allowance for Losses ($M) FY Q2'22 Notes: 1. Metrics are unaudited 6.4% 6.2% $155 5.7% $153 $182 5.0% $176 4.7% $205 4.6% FY Q1'23 FY Q2'23 FY Q3'23 FY Q4'23 Allowance % of Loans Held for Investment $232 5.1% FY Q1'24 31#32Change in Allowance for Credit Losses $205 Allowance (June 2023) affirm Quarterly Change in Allowance $93 Beginning of Period Allowance (+) Provision for Loan Losses (-) Charge-offs, Net End of Period Allowance Notes: 1. 2. 3. Provision for Losses 3 Loans Held for Investment Allowance % of Loans Held for Investment $(65) Charge-offs, Net $ $232 $ $ Allowance September 2023 December 31, 2022 153 103 Last 12 Months Change in Allowance Quarter Ending (74) 182 3,656 5.0 % $ $153 $ $ Allowance (September 2022) March 31, 2023 182 61 (67) 176 3,776 4.7 % Last 12 Months Change in Allowance $ $ $ $349 Provision for Losses June 30, 2023 176 92 (64) $ 205 $ 4,403 $ 4.6 % $(270) Charge-offs, Net September 30, 2023 205 93 (65) 232 4,549 5.1 % $ 12 Months Ending September 30, 2023 $ $ $232 Allowance September 2023 Dollars in millions Metrics are unaudited Table details activity in the allowance for credit losses, including charge-offs, recoveries and provision for loan losses; excludes provision for merchant and affiliate network revenue losses 153 349 (270) 232 4,549 5.1 % 32#33Outlook affirm#34Key Assumptions Incorporated in Outlook Affirm's financial outlook calls for full year profitability, on an Adjusted Operating Income basis, in FY 2024. Interest rates and macroeconomic environment: The current forward interest rate curve and negative consumer sentiment will persist through the remainder of the fiscal year ending June 30, 2024, with no improvement in macroeconomic conditions. ● Seasonality and product mix: We expect increased consumer demand for our financing products in the fourth quarter of the calendar year, which is our second fiscal quarter, resulting in a quarterly high point for GMV. Pricing: We have incorporated consumers' student loan balances into our underwriting decisions, and continue expect the resumption of loan repayments to be a modest headwind to our FY'24 GMV. We expect our second fiscal quarter to represent a quarterly low point for both Revenue as a percentage of GMV and RLTC as a percentage of GMV driven by the timing mismatch of Revenue and the Provision for Credit Losses in our business. affirm We expect to continue to realize year-over-year increases in the weighted-average APRS for interest-bearing loans. Product: Our outlook includes the expected financial impact of the continued ramp of our Affirm Card offerings. Funding: We expect Equity Capital Required ("ECR") as a percentage of Total Platform Portfolio ("ECR Ratio") to peak at approximately 6% in our second fiscal quarter and decrease thereafter. 34#35FY Q2 2024 and FY 2024 Guidance In light of the current macroeconomic volatility, we are providing an updated outlook for FY'24 that is focused on the goals and operating principles by which we expect to manage the business this year. The following summarizes Affirm's financial outlook for the fiscal second quarter and full year Fiscal 2024: GMV of more than $24.25 billion Revenue as a % of GMV similar to FY'23 Revenue Less Transaction Costs as a % of GMV similar to FY'23 ● Adjusted Operating Margin of more than 5 percent Weighted Average Shares Outstanding of 311 million The following table summarizes Affirm's financial outlook for the second fiscal quarter of 2024: affirm GMV Revenue Transaction Costs Revenue Less Transaction Costs Adjusted Operating Margin Weighted Average Shares Outstanding Fiscal Q2 2024 $6.70 to $6.90 billion $495 to $520 million $310 to $320 million $185 to $200 million 2 to 4 percent 308 million 35#36Financials affirm#37Components of Interest Income ($ in 000s) Interest income on unpaid principal balance Amortization of discount on loans held for investment Amortization of premiums on loans Interest receivable charged-off, net of recoveries Total interest income Notes: affirm 1. Metrics are unaudited September 30. 2021 $ $ 82,941 $ 38,445 (2,737) (1,347) 117,302 $ December 31. 2021 88,674 $ 54,965 (2,995) (2,289) March 31, 2022 138,355 $ 95,253 $ 45,443 (3,407) (2.690) June 30, 2022 134,599 $ 99,125 $ 46,197 (3,946) September 30, 2022 (3.752) 137.624 $ 106,138 $ 38,969 (4,374) (3,931) 136,802 $ December 31, 2022 125,858 38,838 (4,580) (4,795) $ March 31, 2023 155,321 $ 147,759 39,130 (4.515) (4,104) $ 178,270 $ June 30, 2023 181,437 $ 41,766 (4,159) (4,220) 214,824 $ September 30, 2023 226,158 45,118 (3,980) (4.617) 262,679 37#38Fully Diluted Shares Outstanding (FY Q1'24) Common Shares Outstanding Plus: Balance of Options, Weighted Average Strike Price: $14.81 Plus: Vested Warrants, Weighted Average Strike Price: $0.01 Less: Treasury Stock Reduction of Options and Vested Warrants Outstanding Plus: Restricted Stock Units Fully Diluted Shares, Treasury Stock Method (Shares in millions) Derivation of Fully Diluted Shares Outstanding Estimate relies upon below inputs and assumptions: Common shares outstanding and restricted stock units are as of September 30, 2023 Notes: affirm 1. Metrics are unaudited 301 19 5 (13) 22 334 Balance of options and vested warrants outstanding as of September 30, 2023 and reduced by 13 million shares using treasury stock method with $22.09 closing stock price as of 11/7/2023 Vested warrants include penny warrants Excludes 12.5 million Value Creation Awards with $49.00 strike price and $100.00 strike price warrants 38#39Share-Based Payment Expense $110 $17 $42 $51 FY Q1'22 Notes: 1. Metrics are unaudited affirm) 2. Dollars in millions $176 $65 $6 $17 $42 $46 $217 3. Amounts above are included in Operating Expenses $92 $10 $17 $29 $69 $230 $98 $10 $12 $27 $84 FY Q2'22 FY Q3'22 Employee Stock-Based Compensation Shopify Commercial Agreement Asset Amortization Amazon Enterprise Warrant Vesting FY Q4'22 $248 $109 $10 $9 $27 $93 FY Q1'23 $269 $128 $11 $9 $27 $94 FY Q2'23 $220 $94 $10 $9 $20 $87 FY Q3'23 $214 $91 $10 $9 $20 $84 FY Q4'23 CEO Value Creation Award Amazon Commercial Agreement Asset Amortization $228 $96 $10 $9 $20 $93 FY Q1'24 39#40Reconciliations affirm#41Quarterly Revenue & Transaction Cost Detail ($ in 000s except GMV) Gross Merchandise Value ($M) Revenue Merchant network revenue Virtual card network revenue Total network revenue Interest income Gain (loss) on sales of loans Servicing income Total Revenue, net Transaction Costs Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Revenue Less Transaction Costs Line Items as a % of GMV Gross Merchandise Value Revenue Merchant network revenue Virtual card network revenue Total network revenue Interest income Gain (loss) on sales of loans Servicing income Total Revenue, net Transaction Costs Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Revenue Less Transaction Costs Notes: 1. Metrics are unaudited affirm September 30, 2021 2.713 $ $ $ $ $ $ $ 112,106 92,244 19,395 111,639 117,302 30,979 9,465 269,385 $ 100.0 % 3.4% 0.7 % 4.1 % 4.3 % 1.1 % 0.3 % 9.9 % December 31, 2021 4.458 51,678 $ 63,647 16,753 25,201 157,279 1.9 % 2.3 % 0.6 % 0.9 % 5.8 % $ 4.1% $ $ $ $ 127,087 26,558 153.645 138,355 57.690 11,321 361,011 183,557 100.0 % 2.9 % 0.6 % 3.4 % 3.1 % 1.3 % 0.3 % 8.1 % 65,265 $ 52,640 17.700 41,849 177,454 1.5% 1.2 % 0.4 % 0.9 % 40% $ 4.1% $ $ $ $ $ March 31, 2022 3,916 121,054 23,169 144.223 134,599 52,484 23,456 354,762 46,853 66,294 15,824 43,371 172.342 182,420 100.0 % 3.1 % 0.6 % 3.7% 3.4% 1.3 % 0.6 % 9.1 % 1.2% 1.7% 0.4 % 1.1 % 4.4% 4.7% $ $ $ $ $ Ś Ś June 30, 2022 4,396 184,348 118,126 31,574 149,700 $ 137,624 55,282 21,528 364,134 100.0 % 2.7 % 0.7 % 3.4 % 3.1 % 1.3 % 0.5 % 8.3 % September 30, 2022 4.389 40,285 $ 72,691 19,417 47,393 179,786 0.9 % 1.7 % 0.4 % 1.1 % 4.1 % S 4.2 % $ S Ś $ 113,149 $ 26,708 139,857 136,802 63,595 21.370 361,624 182,339 100.0 % 2.6 % 0.6 % 3.2 % 3.1 % 1.4 % 0.5% 8.2 % December 31, 2022 0.8 % 1.5 % 0.6 % 1.2 % 4.1 % $ 35,610 64,250 25,066 54,359 179,285 $ 4.2 % $ $ $ $ 5,658 134,019 29,117 163.136 155.321 59,607 21.494 399.558 38,422 106,689 43,751 66,508 255,370 144.188 100.0 % 2.4 % 0.5 % 2.9 % 2.7 % 1.1 % 0.4 % 7.1 % 0.7 % 1.9 % 0.8 % 1.2 % 4.5 % 2.5% $ $ $ Ś $ $ $ March 31, 2023 4,639 119,013 29,469 148,482 178,270 32,813 21,413 380.978 166,899 100.0 % 2.6 % 0.6 % 3.2 % 3.8 % 0.7 % 0,5 % 8.2 % 31,224 $ 66.438 51,188 65,229 214,079 0.7 % 1.4% 1.1 % 1.4% 4.6 % Ś 3.6 % $ $ $ $ $ June 30, 2023 5,515 141,419 34,044 175,463 214,824 32,326 23,212 445,825 35,009 94,483 63,008 71,247 263,747 182,078 100.0 % 2.6 % 0.6 % 3.2 % 3.9 % 0.6 % 0.4 % 8.1 % 0.6 % 1.7 % 1.1 % 1.3 % 4.8 % 3.3% September 30, 2023 5,617 $ $ $ Ś $ 145,950 33,476 179,426 262,679 34,285 20,157 496,547 34,866 99,696 73,931 75,671 284,164 212,383 100.0 % 2.6 % 0.6 % 3.2 % 4.7 % 0.6 % 0.4 % 8.8% 0.6 % 1.8% 1.3 % 1.3% 5.1 % 3.8 % 41#42Annual Revenue & Transaction Cost Detail ($ in 000s except GMV) Gross Merchandise Value ($M) Revenue Merchant network revenue Virtual card network revenue Total network revenue Interest income Gain (loss) on sales of loans Servicing income Total Revenue, net Transaction Costs Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Revenue Less Transaction Costs Line Items as a % of GMV Gross Merchandise Value Revenue Merchant network revenue Virtual card network revenue Total network revenue Interest income Gain (loss) on sales of loans Servicing income Total Revenue, net Transaction Costs Loss on loan purchase commitment. Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Revenue Less Transaction Costs affirm $ $ $ $ $ June 30, 2021 8,292 379,551 49,851 429,402 326,417 89,926 24,719 870.464 246,700 65.878 52,700 73,578 438,856 431,608 100.0 % 4.6 % 0.6 % 5.2 % 3.9 % 1.1 % 0.3 % 10.5 % 3.0 % 0.8 % 0.6 % 0.9 % 5.3 % 5.2 % $ $ Ś $ $ $ $ June 30, 2022 15.483 458,511 100,696 559,207 527,880 196,435 65,770 1,349,292 204,081 255,272 69,694 157,814 686,861 662,431 100.0 % 3.0 % 0.7 % 3.6% 3.4 % 1.3% 0.4 % 8.7 % 1.3 % 1.6 % 0.5 % 1.0 % 4.4% 4.3 % Notes: 1. FY Q1'21 and FY Q2'21 amounts include adjustments to amounts previously reported due to effects of adoption of accounting standards effective July 1, 2020 2. FY Q3'21 amounts include adjustments to amounts previously reported due to an adjustment to stock-based compensation expense 3. Metrics are unaudited S $ $ $ $ $ $ June 30, 2023 20,201 507,600 119,338 626,938 685,217 188,341 87,489 1,587,985 140,265 331,860 183,013 257,343 912,481 675,504 100.0 % 2.5 % 0.6 % 3.1 % 3.4 % 0.9 % 0.4 % 7.9 % 0.7 % 1.6 % 0.9 % 1.3 % 4.5 % 3.3 % 42#43Income Statement Reconciliations - Fiscal Quarter Income Statement Reconciliations (SK) Total Revenue Operating Expenses Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs September 30, 2021 $ $ $ $ Ś $ 269,385 $ December 31, 2021 51.678 $ 63,647 16,753 25,201 157,279 78.013 63,960 $ 136,204 435,456 $ (166,071) $ 51,678 63,647 16,753 25,201 112,106 63,647 175,753 $ $ 361,011 65,265 52,640 17,700 41,849 177,454 94.989 143,476 Technology and data analytics Sales and marketing Restructuring and other General and administrative 141,292 Total Operating Expenses 557,211 $ Operating Income (Loss) (196,200) $ Reconciliation from Revenue to Revenue Less Transaction Costs and Revenue Less Transaction Costs ex-Provision $ Total Revenue 269,385 $ 361,011 $ 354,762 Ś Less: Loss on loan purchase commitment Less: Provision for credit losses Less: Funding costs Less: Processing and servicing Revenue Less Transaction Costs Plus: Provision for credit losses Revenue Less Transaction Costs ex-Provision 209 (45,093) $ $ Reconciliation from from Operating Income (Loss) to Adjusted Operating Income (Loss) Operating Income (Loss) $ (166,071) $ Plus: Depreciation and amortization 10,541 Plus: Stock-based compensation expense 93,189 17.039 $ $ 65,265 52,640 17,700 41,849 183,557 $ 52,640 236,197 $ (196,200) $ 11,964 88,537 87.673 March 31, 2022 354.762 94 (7.932) $ $ 46,853 66,294 15,824 43,371 172,342 $ 110.291 156,214 142,466 581,313 Ś (226,551) Ś 46,853 66,294 15,824 43,371 182,420 $ 66,294 248,714 $ (226,551) $ 13,102 98,387 119.039 June 30, 2022 25 4,002 $ 364,134 September 30, 2022 $ $ 40,285 72,691 19,417 47,393 179,786 $ 135.350 168,693 157.531 641,360 $ (277,226) $ 364.134 $ 40,285 72,691 19,417 47,393 184,348 $ 72,691 257,039 $ (277,226) $ 17,115 110,870 119.517 415 (29,309) $ December 31, 2022 361,624 $ 35,610 64,250 25,066 54,359 179,285 144.961 163,873 $ $ 160,972 649,091 $ (287,467) $ 361,624 35,610 64,250 25,066 54,359 182,339 64,250 246,589 $ $ $ (287,467) $ 20,882 119,808 128.205 399,558 $ 38,422 $ 106,689 43,751 66,508 255,370 156.747 188,334 $ 158,639 759,090 $ (359,532) $ 399,558 $ 38,422 106,689 43,751 66,508 144,188 $ 106,689 250,877 $ (359,532) $ 23,004 121,775 147.516 March 31, 2023 5,203 (62,034) $ 380,978 S $ 31,224 66,438 51,188 65,229 214,079 $ 161.792 140,942 34,934 139,266 691,013 $ (310,035) $ 380,978 31,224 66,438 51,188 65,229 166,899 $ 66,438 233,337 $ $ (310,035) $ 46,068 106,789 112.961 34,934 Plus: Enterprise warrant and share-based expense Plus: Restructuring and other 5 $ (18,567) $ Plus: Other non-recurring items* Adjusted Operating Income (Loss) Notes: 1. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs 2. Metrics are unaudited affirm June 30, 2023 2,858 (6.425) $ 445,825 September 30, 2023 $ 35,009 $ 94,483 63,008 71,247 263,747 152.318 145,131 936 127,521 689,653 $ (243,828) $ $ 445,825 $ 35,009 94.483 63,008 71,247 182,078 $ 94,483 276,561 $ (243,828) $ 43,279 103.337 110.467 936 517 14,709 $ 496,547 34,866 99,696 73,931 75,671 284,164 132.965 146,866 1.665 140,334 705,994 (209,447) 496,547 34,866 99,696 73,931 75,671 212,383 99,696 312,079 (209,447) 40,060 112,359 115.373 1,665 (66) 59,944 43#44Income Statement Reconciliations - Fiscal Year Income Statement Reconciliations (SK) Total Revenue Operating Expenses Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technoloav and data analvtics Sales and marketing Restructuring and other General and administrative Total Operating Expenses Operating Income (Loss) Revenue Less Transaction Costs Plus: Provision for credit losses Revenue Less Transaction Costs ex-Provision Reconciliation from Revenue to Revenue Less Transaction Costs and Revenue Less Transaction Costs ex-Provision Total Revenue $ Less: Loss on loan purchase commitment Less: Provision for credit losses Less: Funding costs Less: Processing and servicing Reconciliation from from Operating Income (Loss) to Adjusted Operating Income (Loss) Operating Income (Loss) Plus: Depreciation and amortization Plus: Stock-based compensation expense $ Plus: Enterprise warrant and share-based expense Plus: Restructuring and other Plus: Other non-recurring items* $ $ Ś Ś $ $ June 30, 2021 870,464 246,700 $ 65,878 52,700 73,578 438,856 249.336 182,190 383,749 1,254,131 (383,667) 497.486 $ 67) 19,979 292,507 64.821 $ Ś 870,464 246,700 65,878 52,700 73,578 431.608 Ś 65,878 $ $ Twelve Months Ended June 30, 2022 1,349,292 $ 204,081 255,272 69,694 157,814 686,861 418.643 532,343 577,493 2,215,340 (866,048) 1,349,292 204,081 255,272 69,694 157,814 662.431 255,272 917,703 (866,048) 52,722 390,983 343.268 $ $ $ $ $ $ $ 743 (78.332) $ June 30, 2023 20,697 14,337 $ Adjusted Operating Income (Loss) $ 1. FY Q1'21 and FY Q2'21 amounts include adjustments to amounts previously reported due to effects of adoption of accounting standards effective July 1, 2020 2. FY Q3'21 amounts to amounts due to an to affirm) 3. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs 4. Metrics are unaudited 1,587,985 140,265 331,860 183,013 257,343 912,481 615.818 638,280 35,870 586,398 2,788,847 (1,200,862) 1,587,985 140,265 331,860 183,013 257,343 675.504 331,860 1,007,364 (1,200,8 133,233 451,709 499.150 35,870 8,583 (72,317) 44#45GAAP to Non-GAAP Expense Reconciliations, H1'24 Three Months Ended September 30, 2023 Enterprise Warrant & Share Based ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses affirm $ $ $ Ś Ś GAAP 34,866 $ 99.696 73,931 75,671 284.164 $ 132,965 $ 146,866 140.334 1,665 421,830 $ 705,994 $ D&A 86000 99 99 $ $ 31,676 7,681 604 0 $ 39,961 $ 40.060 Ś Stock-Based Compensation OO 0 0 0 1,575 1,575 $ $ $ 35,135 5.465 70.184 0 110,784 $ 112,359 $ 0 0 o o olo $ 0 Ś 115.373 $ 0 115,373 $ 115,373 Ś Restructuring and other 000 с O $ $ $ 0 0 0 1,665 1,665 $ 1.665 $ Other Non- Recurring Items O O O O O 0 0 (66) 0 (66) $ $ $ $ (66) $ Notes: 1. Metrics are unaudited 2. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs Non-GAAP 34,866 99.696 73,931 73,997 282,490 66,154 18,347 69,612 154.113 436,603 45#46GAAP to Non-GAAP Expense Reconciliations, H2'23 ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses $ $ $ $ $ $ $ $ GAAP 35,009 $ 94,483 63.008 71,247 263,747 $ 152.318 Ś 145,131 127,521 936 425.906 689,653 $ GAAP $ 31,224 $ 66,438 51.188 65,229 214,079 $ 161,792 140,942 139,266 34,934 476,934 S $ 691,013 $ D&A D&A 0 0 0 109 109 34.737 7,773 660 O 43.170 43,279 0 0 0 100 100 $ $ Ś $ $ $ $ $ 39,167 5,890 911 0 45.968 $ 46,068 $ Three Months Ended June 30, 2023 Stock-Based Compensation Enterprise Warrant & Share Based 0 0 0 1,411 1,411 $ Ś $ 44.394 6,397 51,135 0 101.926 $ 103,337 $ Stock-Based Compensation O 0 0 1,120 1,120 $ $ $ O O O O O 45,040 5,840 54,789 O 105.669 $ 106,789 $ 0 0 Three Months Ended March 31, 2023 Enterprise Warrant & Share Based 110,467 O 0 110,467 $ 110,467 $ O O O O 0 $ 0 C 0 $ $ Ś 112,961 O O 0 $ $ 112,961 $ 112,961 $ Restructuring charges, net OOO OO Restructuring charges, net O O O O C $ 0 $ 0 0 936 936 $ 936 $ er 000+ $ 0 $ $ OF S 34,934 34.934 34,934 $ Ś Other Non- Recurring Items ooooº Other Non- Recurring Items 0 $ 0 517 0 517 $ 517 $ O O O O O Ś 8000 $ 2,858 Ś $ $ 0 2,858 $ 2,858 $ Notes: affirm 1. Metrics are unaudited 2. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs Non-GAAP 35,009 94,483 63.008 69,727 262,227 73.187 20,493 75,208 0 168,889 431,116 Non-GAAP 31,224 66,438 51.188 64,009 212,859 77.585 16,251 80,708 0 174,544 387,403 46#47GAAP to Non-GAAP Expense Reconciliations, H1'23 Three Months Ended December 31, 2022 Stock-Based Enterprise Warrant Compensation & Share Based ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses $ $ $ $ $ $ $ $ GAAP 38,422 $ 106,689 43.751 66,508 255,370 $ 156.747 Ś 188,334 158,639 0 503,720 GAAP 759,090 $ $ 35,610 $ 64,250 25,066 54,359 179,285 $ 144.961 163,873 160,972 0 $ 469.806 Ś 649,091 $ D&A D&A 0 0 0 108 108 20.154 2,161 581 0 22,896 23,004 0 0 0 95 95 $ $ Ś $ $ $ $ 17,963 $ 2,199 625 0 20,787 $ 20,882 $ 0 0 0 1.033 1,033 $ $ 48.534 Ś 5,549 66,659 0 120,742 $ 121,775 $ 000 $ 912 912 $ Three Months Ended September 30, 2022 Stock-Based Enterprise Warrant Compensation & Share Based 43,428 $ 8,128 67,340 O 118.896 $ 0 O O O O O 119,808 $ $ O Ś 147,516 O O 147.516 $ $ 147,516 O O O O C 0 $ 128,205 OO $ 0 $ $ 128,205 $ 128,205 $ Restructuring charges, net Restructuring charges, net O O O O O O O O O O OOO OO $ ooooo er 0 $ $ S $ $ $ 40 $ S $ Other Non- Recurring Items ooooº 5,203 Other Non- Recurring Items 0 $ 1,930 3,273 0 5,203 O O O O O u o uoo Ś 5 $ $ $ Ś $ $ $ $ Notes: affirm 1. Metrics are unaudited 2. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs Non-GAAP 38,422 106,689 43.751 65,367 254,229 88.059 31,179 88,126 O 207,363 461,592 Non-GAAP 35,610 64,250 25,066 53,352 178,278 83,570 25,341 93,002 0 201.913 380,191 47#48GAAP to Non-GAAP Expense Reconciliations, H2'22 ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses $ $ $ $ $ $ $ $ GAAP 40,285 $ 72,691 19.417 47.393 179,786 $ 135.350 S 168,693 157,531 0 461,574 GAAP 641,360 46,853 $ 66,294 110,291 156,214 142,466 $ 15,824 43,371 172,342 $ $ 0 $ 408,971 Ś 581,313 $ D&A D&A 0 0 0 145 145 13.992 2,314 664 0 16.970 $ $ 17,115 $ 0 0 0 124 124 $ Ś $ $ $ 10,058 2,372 549 0 12,978 $ 13,102 $ Three Months Ended June 30, 2022 Stock-Based Compensation 0 0 0 895 895 $ 41.398 Ś 7,569 61,008 0 109,975 $ 110,870 $ Stock-Based Compensation O 0 0 650 650 Enterprise Warrant & Share Based 33,639 5,998 58,100 $ 0 $ Three Months Ended March 31, 2022 Enterprise Warrant & Share Based $ $ 0 $ 97.737 $ 98,387 $ O O O O O $ 0 Ś 119,517 O O O 0 119,517 $ 119,517 $ 0 $ O O O O 0 C 0 0 119,039 OO 0 $ $ 119,039 $ 119,039 $ Restructuring charges, net Restructuring charges, net O O O O O O O O O O OOO OO $ 0 $ O O O O O $ S $ $ $ 40 0 $ S $ Other Non- Recurring Items ooooo oor 0 415 Other Non- Recurring Items 415 0 415 $ $ O O O O O Ś 0 0 25 0 25 $ $ Ś $ $ $ 25 $ Notes: affirm 1. Metrics are unaudited 2. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs Non-GAAP 40,285 72,691 19.417 46,353 178,746 79.960 39,293 95,444 O 214.697 393,443 Non-GAAP 46,853 66,294 15,824 42,597 171,568 66,594 28,805 83,792 0 179,192 350,760 48#49GAAP to Non-GAAP Expense Reconciliations, H1'22 Three Months Ended December 31, 2021 Stock-Based Compensation ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses $ Ś $ $ $ $ $ $ GAAP 65,265 $ 52,640 17.700 41,849 177,454 94.989 143,476 141,292 0 GAAP 379,757 $ $ Ś 557,211 $ 51,678 $ 63,647 16.753 25,201 157,279 $ 78,013 $ 63,960 136,204 0 278,177 Ś 435,456 $ D&A D&A 0 0 0 108 108 $ ܘ ܘ ܘ $ Ś 9.012 2,377 467 0 11.856 $ 11,964 $ $ 227 227 $ $ 0 0 0 530 530 7,418 482 2,414 0 10,314 $ 10,541 $ Enterprise Warrant & Share Based O 0 0 356 356 $ 21.427 4,633 61,947 0 88,007 $ 88,537 $ $ Ś 92,833 Three Months Ended September 30, 2021 Stock-Based Enterprise Warrant Compensation & Share Based $ $ 20,067 $ 5,024 67,742 0 $ 93,189 $ 0 $ O O O O O $ 0 S 87,673 0 0 87.673 87,673 O O O O C 0 0900 $ $ 0 $ 17,039 $ $ 17.039 $ 17,039 $ Restructuring charges, net Restructuring charges, net O O O O O O O O O O OOO OO $ 0 $ O O O O O $ S $ $ $ 40 0 $ S $ Other Non- Recurring Items ooooº 94 0 94 Other Non- Recurring Items 94 0 $ 0 O O O O O Ś 0 0 209 0 209 $ $ $ Ś $ $ $ 209 $ Notes: affirm 1. Metrics are unaudited 2. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs Non-GAAP 65,265 52,640 17.700 41,211 176,816 64.550 48,794 78,784 0 192,127 368,942 Non-GAAP 51,678 63,647 16,753 24,618 156,696 50,528 41,415 65,839 0 157.782 314,478 49#50GAAP to Non-GAAP Expense Reconciliations (FY'22 & FY'23) ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technology and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses $ Ś $ $ $ $ $ $ GAAP 140,265 $ 331,860 183.013 257,343 912,481 GAAP 615.818 638,280 586,398 35,870 1.876,366 $ 2,788,847 $ $ 418,643 532,343 577,493 S 204,081 $ 255,272 69,694 157,814 686,861 $ $ 0 1,528,479 Ś 2,215,340 $ D&A D&A 0 0 0 412 412 112.021 18,023 2,777 0 132,821 $ 133,233 $ 0 0 0 604 604 40,480 7,544 4,094 0 $ $ Ś 52,118 $ $ $ $ 52,722 $ Twelve Months Ended June 30, 2023 Stock-Based Enterprise Warrant Compensation & Share Based 0 0 0 4,476 4,476 181.396 25,914 239,923 0 447,233 $ Stock-Based Compensation 451,709 $ $ 0 0 0 2,431 2,431 $ Ś 116,531 23,224 248,797 0 $ Twelve Months Ended June 30, 2022 Enterprise Warrant & Share Based $ $ O O O O O 388,552 $ 390,983 $ 0 ܘ ܘ ܘ ܘ 0 S 499,150 499.150 $ 499,150 $ O O O O O O $ 343,268 $ 0 $ 0 0 343,268 Restructuring and Other $ $ $ 343,268 $ 000 Restructuring and Other 0 0 000 0 O O O O O $ 35,870 35,870 35,870 $ $ ooooo $ $ 0 $ $ 40 $ S $ Other Costs Notes: affirm 1. Metrics are unaudited 2. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, and exit and disposal costs O O O O O Other Costs 0 $ 1,930 6,653 0 8,583 $ 8,583 $ O O O O O Ś $ 743 0 743 743 Ś 0 $ 0 $ $ $ Non-GAAP 140,265 331,860 183.013 252,455 907,593 322.401 93,263 337,044 0 752,708 1,660,301 Non-GAAP 204,081 255,272 69,694 154,779 683,826 261,631 158,307 323,859 0 743,797 1,427,623 50#51GAAP to Non-GAAP Expense Reconciliation (FY'21) Twelve Months Ended June 30, 2021 Stock-Based Enterprise Warrant Compensation & Share Based ($ in 000s) Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Technoloav and data analytics Sales and marketing General and administrative Restructuring and other Other Operating Expenses Total Operating Expenses affirm $ Ś $ $ GAAP 204,081 $ 255,272 69.694 157,814 686,861 $ 418.643 S 532,343 577,493 0 1.528.479 S 2,215,340 Ś D&A 0 0 0 604 604 $ 40.480 Ś 7,544 4,094 0 52.118 $ 52.722 S $ 0 0 0 2,431 2,431 $ $ 116.531 Ś 23,224 248,797 0 388.552 Ś 390,983 $ 0 $ O O O O $ 0 Ś 343,268 0 O O O 0 0 343.268 S 343,268 $ Restructuring charges, net O O O O 0 $ 0 $ O O O O O 0 $ OF S S Other Non- Recurring Items O O O O O $ Ś 0 0 743 0 743 S Ś 743 Notes: 1. Metrics are unaudited 2. Other costs consist of expenses incurred in the period associated with the Company's initial public offering, acquisitions, impairment charges, restructuring, severance, and exit and disposal costs Non-GAAP 204,081 255,272 69.694 154,779 683,826 261.631 158,307 323,859 0 743.797 1,427,623 51