#1FY Q3 2022 Earnings Supplement May 12, 2022 affírm) 9:41 + You're prequalified to Pay in 4 with Affirm GOOD MORNING, ALEX SHOP YOUR FAVORITE STORES A $2,000 Prequalified to spend where are you shopping? Shoo X O APR EXPRESINA BAVS Virtual card Get as low as 0% APR on Prime Day A Marija 5 in store Ba#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; the development, innovation, introduction and performance of, and demand for, 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, partners and consumers and retain and grow its relationships with existing merchants, partners and consumers; the highly competitive 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; 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; seasonal fluctuations in our revenue as a result of consumer spending patterns; pending and future litigation, regulatory actions and/or compliance issues; 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, 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 Q3 2022 Operating and Financial Highlights affirm#5Third Quarter FY'22 Highlights GROSS MERCHANDISE VOLUME ($M) affirm $2,257 83% Growth $3,916 73% Growth FY Q3'21 FY Q3'22 Notes: 1. Metrics are unaudited ACTIVE CONSUMERS (M) 5.4 60% Growth 12.7 137% Growth FY Q3'21 FY Q3'22 TRANS. PER ACTIVE CONSUMER 2.3 7% Growth 2.7 19% Growth FY Q3'21 FY Q3'22 REVENUE ($M) $231 67% Growth $355 54% Growth FY Q3'21 FY Q3'22 5#6FY Q3 2022 Business Highlights affirm#7Gross Merchandise Volume Notes: 1. affirm 2 3. $1,231 $1,203 $612 $672 FY Q3'20 $1,476 $661 FY Q4'20 FY Q1'21 $2,075 73% Growth $2,257 $541 $564 $495 FY Q2'21 FY Q3'21 GMV ($M) $2,484 GMV defined as the total dollar amount of all transactions on the Affirm platform during the period, net of refunds Average Order Value (AOV) defined as GMV divided by the number of transactions conducted on the Affirm platform during the period Metrics are unaudited FY Q4'21 AOV ($) $2,713 $402 $4,458 $365 97% Ex-Peloton Growth $3,916 $374 FY Q1'22 FY Q2'22 FY Q3'22 7#8Power Transactions Across Diverse Channels POS VS. AFFIRM¹ TRANSACTIONS FY Q3 2022 23% Affirm¹ 77% Point of Sale AFFIRM PRODUCT COMPOSITION² FY Q3 2022 21% Split Pay (Bi-Weekly 0% APR) 21% Core 0% APR 57% Interest-Bearing Notes: 1. Based on transactions initiated by Affirm through mobile app and website channels 2. Split Pay includes volume from loan transactions with 0% APR and 6-8 week or 3 month term lengths; Interest-Bearing includes loans with greater than 0% APR; Core 0% APR includes all other GMV affirm 3. Excludes volume from transactions facilitated through Affirm virtual card at non-integrated merchants 4. Metrics are unaudited 11% 11% Industry GMV Mix³ FY Q3 2022 7% 12% 7% General Merchandise Sporting Goods and Outdoors Home / Lifestyle Equipment / Auto 20% 12% 19% Fashion Beauty Electronics Travel / Ticketing Other 8#9Active Consumers affirm Notes: 1. 2. 3. 3,346 3,618 FY Q3'20 FY Q4'20 3,882 4,493 137% Growth Active Consumers (K) 5,364 2.3 7,121 2.3 8,692 2.3 11,231 12,733 2.7 FY Q1'21 FY Q2'21 FY Q3'21 FY Q4'21 FY Q1'22 FY Q2'22 FY Q3'22 Transactions per Active Consumer 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 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 Metrics are unaudited 9#10Quarterly Transactions affirm Notes: 1. 2.0 0.7 1.3 FY Q3'20 Metrics are unaudited 2.2 0.6 1.6 3.8 1.1 162% Growth 2.7 4.0 1.1 5.0 1.3 2.9 6.7 1.9 3.7 12.2 4.9 3.0 9.2 1.8 0.6 1.2 FY Q4'20 FY Q1'21 FY Q2'21 FY Q3'21 FY Q4'21 FY Q1'22 FY Q2'22 FY Q3'22 Repeat Customer Transactions (M) 10.5 First Time Customer Transactions (M) 2.0 8.5 10#11Active Merchants affirm Notes: 1. 2. 4.8 FY Q3'20 5.7 6.5 7.9 1,698% Growth 11.5 29.0 102.2 FY Q4'20 FY Q1'21 FY Q2'21 FY Q3'21 FY Q4'21 FY Q1'22 Active Merchants (K) Active Merchant defined as a merchant which engages in at least one transaction on our platform during the 12 months prior to the measurement date Metrics are unaudited 168.0 23% QoQ Growth 207.0 FY Q2'22 FY Q3'22 11#12Revenue affirm) Notes: 1. $138 11.2% $153 12.7% Metrics are unaudited $174 11.8% $204 9.8% 54% Growth $231 FY Q3'20 FY Q4'20 FY Q1'21 FY Q2'21 FY Q3'21 10.2% 10.5% 9.9% $262 $269 Revenue ($M) FY Q4'21 FY Q1'22 % of GMV $361 $355 8.1% 9.1% FY Q2'22 FY Q3'22 12#13Merchant 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. FY Q3'20 FY Q4'20 FY Q1'21 FY Q2'21 FY Q3'21 FY Q4'21 Split Pay Core 0% Long Core 0% Short - Core IB FY Q2'22 Non-Integrated Virtual Card FY Q1'22 FY Q3'22 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 from Affirm integrated merchants; Split Pay includes loans with 0% APR and 6-8 week or 3 month term lengths; Non-Integrated Virtual Card includes loans made by Affirm at non-integrated merchants using Affirm's virtual card technology; excludes loans made in Canada via Affirm or legacy Paybright business and excludes Returnly transactions Metrics are unaudited 13#14Interest Income and Loans Held for Investment Composition Interest Income Composition Composition of Average Loans Held for Investment ("LHFI") $2,464 $961 $52 $9 $43 18% FY Q3'20 affirm $49 $10 $39 2. 3. 21% Notes: 1. $54 $15 $39 27% $74 $22 $51 30% $95 $32 $63 33% $104 $32 $72 31% $117 $38 $79 33% $138 $55 $83 40% FY Q4'20 FY Q1'21 FY Q2'21 FY Q3'21 FY Q4'21 FY Q1'22 FY Q2'22 $135 $45 $89 Consumer & Other Interest Income ($M) Amortization of Discount ($M) Amortization of Discount as % of Total Interest Income 34% FY Q3'22 $1,224 $1,001 $1,012 $306 $250 $314 31% 25% 25% $751 $698 $918 FY Q3'20 FY Q4'20 FY Q1'21 $1,651 $809 $842 $2,335 $2,042 $2,109 $2,134 $957 $875 $886 $1,041 51% 42% 41% 41% $1,001 $1,223 $1,259 $1,378 $1,503 39% FY Q2'21 FY Q3'21 FY Q4'21 FY Q1'22 FY Q2'22 FY Q3'22 Avg. Interest Bearing LHFI Balance Avg. 0% APR LHFI Balance 0% APR Balance % of Avg LHFI 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 Split Pay loans Metrics are unaudited 14#15Transaction Costs Transaction Costs COVID Stress Applied to Allowance $148 12.0% FY Q3'20 affirm COVID Stress Released from Allowance Notes: 1. 2. 3. 4. 5. $46 3.8% FY Q4'20 $119 8.0% $109 5.3% $97 4.3% $114 4.6% FY Q1'21 FY Q2'21 FY Q3'21 FY Q4'21 $157 5.8% $177 4.0% $172 4.4% FY Q1'22 FY Q2'22 FY Q3'22 $65 5.3% FY Q3'20 $78 6.5% FY Q4'20 Transaction Costs ex-Provision $90 6.1% FY Q1'21 $97 $98 4.7% 4.3% $89 $94 3.6% 3.5% $125 $106 2.8% 2.7% FY Q2'21 FY Q3'21 FY Q4'21 FY Q1'22 FY Q2'22 FY Q3'22 Transaction Costs ($M) % of GMV Transaction Costs ex-Provision ($M) % of GMV In March 2020, we updated loss assumptions in our allowance for credit losses to reflect expected stress emerging from forecasted delinquencies and defaults. This resulted in an increase of the allowance for credit losses as a percent of loans held for investment from 8.9% as of February 29, 2020, to 14.6% as of March 31, 2020. In the months subsequent to this, we saw stronger than expected repayment history in the portfolio resulting in a release of the allowance. These applications or releases of stress on the allowance impact the income statement via the provision for credit losses operating expense line. 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 FY Q3'21 and FY Q4'21 amounts include adjustments to amounts previously reported due to understatements in certain prior period amounts related to the fair value measurement of contingent consideration and stock-based compensation. Metrics are unaudited 15#16Revenue Less Transaction Costs (0.8)% $(9) FY Q3'20 affirm Notes: 1. 2. 3. 4. 5. Revenue Less Transaction Costs $108 8.9% FY Q4'20 $95 $55 3.7% 4.6% FY Q1'21 FY Q2'21 $134 $148 5.9% 5.9% FY Q3'21 FY Q4'21 $112 4.1% FY Q1'22 37% YoY $184 $182 4.1% FY Q2'22 % of GMV 4.7% FY Q3'22 $73 5.9% FY Q3'20 Revenue Less Transaction Costs ex-Provision $75 6.3% FY Q4'20 $84 $107 FY Q1'21 $133 5.7% 5.2% 5.9% 7.0% FY Q2'21 $173 $176 FY Q3'21 FY Q4'21 6.5% FY Q1'22 $236 5.3% FY Q2'22 Revenue Less Transaction Costs ($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 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; FY Q3'21 amounts include adjustments to amounts previously reported due to an adjustment to stock-based compensation expense FY Q3'21 and FY Q4'21 amounts include adjustments to amounts previously reported due to understatements in certain prior period amounts related to the fair value measurement of contingent consideration and stock-based compensation. Metrics are unaudited. Revenue Less Transaction Costs ex-Provision ($M) % of GMV 88% YoY $249 6.4% FY Q3'22 16#17Non-GAAP Operating Expenses Technology & Data Analytics Sales and Marketing $28 $28 $28 20% affirm 18% Notes: 1. 2. 16% $36 18% $49 21% $44 17% $51 $65 $67 FY FY FY FY FY FY FY FY FY Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 19% 18% 19% Technology & Data Analytics ($M) % of Revenue $7 $20 $30 10% 13% $40 $41 15% 15% $49 14% $6 $4 3% FY FY FY FY FY FY FY FY Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 FY $29 Sales and Marketing ($M) % of Revenue 8% General and Administrative $28 $29 $28 20% 19% 16% $36 17% $51 $50 22% 19% $66 24% $79 22% 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 $84 24% FY FY FY FY FY FY FY FY FY Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 General and Administrative ($M) % of Revenue 17#18GAAP and Adj. Operating Income / (Loss) $(82) (59)% FY Q3'20 Notes: 1. 2. affirm) 3. 4. $39 76% GAAP Operating Income / (Loss) $(33) $(27) $(209) $(114) $(166) $(196) $(227) [¹] X44)% (62)% (19)% (13)% (54)% (64)% (91)% FY FY FY FY FY FY FY FY Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 $(71) (51)% Adjusted Operating Income / (Loss) $46 30% $(8) (5)% $3 2% $5 2% $14 5% FY FY FY FY FY FY Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 $(8) $(45) (2)% (17)% $4 Operating Income / (Loss) ($M) Operating Margin Adj. Operating Income / (Loss) ($M) Adj. Op Margin 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 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 FY Q3'21 amounts include adjustments to amounts previously reported due to an adjustment to stock-based compensation expense Metrics are unaudited 1% FY FY FY Q1'22 Q2'22 Q3'22 18#19Platform Portfolio and Funding Mix Notes: 1. 2. 3. affirm 4 5. $2,351 $1,353 10% $998 FY Q3'20 $2,482 $1,428 9% $1,054 $2,893 $1,434 8% $540 $919 $3,673 $1,720 $882 8% $1,071 $4,180 $1,905 $1,294 5% $981 FY Q4'20 FY Q1'21 FY Q2'21 FY Q3'21 On Balance Sheet (non-securitized) ($M) Off Balance Sheet (non-securitized) ($M) Equity Capital Req % Platform $4,660 $315 $2,275 $1,201 4% $869 $4,982 $269 $2,432 $1,630 3% $652 $6,327 $488 $3,362 $1,616 4% $862 FY Q4'21 FY Q1'22 FY Q2'22 On Balance Sheet (securitized) ($M) Off Balance Sheet (securitized) ($M) $6,679 $767 $3,381 $1,433 2% $1,099 FY Q3'22 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 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 19#20Funding Capacity affirm Notes: 1. $2.6 90% $3.3 Metrics are unaudited 75% $4.2 $4.7 78% 69% FY Q3'20 FY Q4'20 FY Q1'21 FY Q2'21 $5.8 72% $6.5 72% $7.3 $8.8 68% FY Q3'21 FY Q4'21 FY Q1'22 FY Q2'22 Funding Capacity ($B) Total Platform Portfolio % of Funding Capacity 72% $9.0 74% FY Q3'22 20#21Delinquency Performance affirm) Notes: 1. 2. 3. 6.0% 4.0% 2.0% -% Jul Delinquencies (DQ) of 30+ days as % of Active Balances Excluding Split Pay Sep 2019 Data as of May 2022 US loans only, excludes Split Pay loan transactions with 0% APR and 6-8 week term lengths Metrics are unaudited 2020 Dec 2021 2022 Mar Jun FY 2022 YTD FY 2019 FY 2020 FY 2021 21#22Loans Held for Investment by ITACS Score ($ in 000s) September 30, 2020 June 30, 2020 Amortized Cost Basis of Loans Held for Investment by ITACS Score 746,758 $ 1,123,357 239,007 96+ 94-96 90-94 <90 No score Total loan receivables 96+ 94-96 90-94 <90 No score $ Total loan receivables 196,083 82,368 8,004 20,864 71 % Percentage of Amortized Cost Basis of Loans Held for Investment by ITACS Score 77 % 19 % 8% 1% 58,028 2% 8,017 100 % 31,010 $ 1,054,077 $ 1,459,419 $ 1,953,610 16 % 4 % 1% $ 2 % December 31, 2020 100 % 74,199 1,459,271 $ 1,562,547 357,629 25,517 36,994 75 % 18 % 4 % 1% 2 % Quarter Ending 100 % March 31, 2021 391,934 109,868 29,444 100,141 $ 2,193,934 71 % 18 % 5 % 1 % 5 % 100 % ! June 30, 2021 $ 1,338,059 407,539 138,991 26,379 108,916 $ 2,019,884 66 20 1 % 5 do 7 % % % % 100 % September 30, 2021 $ 1,402,266 451,859 171,723 55,738 148,231 $ 2,229,817 63 % 20 % 8 % 2 % 7 % 100 % 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 December 31, 2021 $ 1,392,997 532,108 229,844 87,594 190,797 $ 2,433,340 57 % 22 % 9 % 4 % 8 % 100 % March 31, 2022 $ 1,409,388 584,290 232,187 59,753 200,470 $ 2,486,088 57 % 24 % 9 % 2 % 8% 100 % 22#23Q3'22 Loan Balance and Net Charge-offs by Loan Origination Year as of March 31, 2022 2022 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 2,156,380 $ (50,207) 2,080 (48,127) 2021 277,122 (16,790) 2,479 (14,311) 2020 51,186 (250) 777 527 $ 2019 1,263 (32) 669 637 $ 2018 130 (1) 250 249 $ Prior 7 T 190 190 $ Total 2,486,088 (67,280) 6,445 (60,835) 23#24Allowance and Loans Held for Investment affirm) Notes: 1. 2. $145 14.6% FY Q3'20 $95 9.2% FY Q4'20 $123 8.7% $125 6.6% FY Q1'21 FY Q2'21 Allowance for Losses ($M) $114 5.2% $118 5.8% FY Q3'21 FY Q4'21 $152 6.8% $158 6.5% FY Q1'22 FY Q2'22 Allowance % of Loans Held for Investment $159 6.4% FY Q3'22 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. The adjustment increased the FY Q1'21 beginning Allowance by $10 million Metrics are unaudited 24#25Guidance affirm#26FY Q4 2022 and FY 2022 Guidance Fiscal Q4 2022 $3.95 to $4.05 billion $345 to $355 million $185 to $190 million $160 to $165 million (15) to (11) percent 290 million affirm GMV Revenue Transaction Costs Revenue Less Transaction Costs Adjusted Operating Margin Weighted Average Shares Outstanding Fiscal Year 2022 $15.04 to $15.14 billion $1,330 to $1,340 million $692 to $697 million $638 to $643 million (7.6) to (6.6) percent 283 million Affirm's financial outlook for the fiscal fourth quarter and full year 2022 assumes the following: The Company's outlook assumes no material impact to GMV, revenue, or transaction costs from the rollout of its Affirm Debit+ card Split Pay offerings, which include the Company's Shopify partnership, are expected to contribute at least 20% of the Company's fiscal year 2022 GMV, with the majority of this volume coming from the Shop Pay Installments program 26#27Financials affirm#28Components of Interest Income ($ 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 affirm Notes: 1. Metrics are unaudited $ $ March 31, 2020 46,444 $ 9,175 (1,701) (1,546) 52,372 $ June 30, 2020 42,195 10,347 (1,921) (1,504) 49,117 September 30, 2020 $ $ 40,188 14,770 (1,958) 1,237 54,237 December 31, 2020 $ $ 54,243 $ 22,448 (2,118) (716) 73,857 $ March 31, 2021 65,921 31,625 (2,373) (643) 94,530 $ $ June 30, 2021 74,860 32,235 (2,569) (733) 103,793 $ September 30, 2021 $ 82,941 38,445 (2,737) (1,347) 117,302 December 31, 2021 $ $ 88,674 54,965 (2,995) (2,289) $ 138,355 $ March 31, 2022 95,253 45,443 (3,407) (2,690) 134,599 28#29Fully Diluted Shares Outstanding (FY Q3'22) affirm ● .. Common Shares Outstanding Plus: Balance of Options, Weighted Average Strike Price: $13.84 Plus: Vested Warrants, Weighted Average Strike Price: $0.01 Less: Treasury Stock Reduction of Options and Vested Warrants Outstanding Notes: 1. Metrics are unaudited Plus: Restricted Stock Units Fully Diluted Shares, Treasury Stock Method (Shares in millions) 286 18 2 Derivation of Fully Diluted Shares Outstanding Estimate relies upon below inputs and assumptions: Common shares outstanding and restricted stock units are as of March 31, 2022 Balance of options and vested warrants outstanding as of March 31, 2022 and reduced by 17 million shares using treasury stock method with $14.63 closing stock price as of 5/11/2022 Vested warrants include penny warrants Excludes 12.5 million Value Creation Awards with $49.00 strike price and $100 strike price warrants (17) 16 305 29#30Reconciliations affirm#31Quarterly Revenue & Transaction Cost Detail December 31, 2020 2,075 June 30, 2021 2,484 ($ 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 $ affirm) 3. Metrics are unaudited $ $ $ $ $ $ March 31 2020 1,231 67,350 5,930 73,280 52,372 9,866 2,755 138,273 (9,344) 100.0 % 5.5 % 0.5% 6.0 % 4.3 % 0.8% 0.2 % 11.2 % 43,519 $ 82,216 8,204 13,678 147,617 $ 3.5 % 6.7 % 0.7% 1.1 % 12.0% $ (0.8)% $ $ $ $ June 30, 2020 1,203 $ 85,249 2,699 87,948 49,117 11,578 4,689 153,332 55,311 (32,171) 7,817 14,806 45,763 107,569 100.0 % 7.1% 0.2 % 7.3 % 4.1% 1.0 % 0.4 % 12.7 % 4.6 % (2.7)% 0.6 % 1.2 % 3.8 % 8.9 % $ $ $ September 30, 2020 1,476 $ $ $ 93,265 5,958 99,223 54,237 16,434 4,084 173,978 65,868 28,931 10,352 13,498 118,649 55,329 100.0 % 6.3 % 0.4 % 6.7 % 3.7 % 1.1 % 0.3% 11.8% 4.5 % 2.0 % 0.7% 0.9 % 8.0 % 3.7% $ $ $ $ $ $ $ 67,768 12,521 12,060 16,802 109,151 99,630 10,820 110,450 73,857 14,560 5,174 204,041 $ 94,890 100.0 % 4.8 % 0.5 % 5.3 % 3.6 % 0.7% 0.2 % 9.8 % 3.3 % 0.6 % 0.6 % 0.8 % 5.3% Three Months Ended March 31, 2021 4.6 % $ $ $ $ $ $ 2,257 $ 97,999 13,809 111,808 94,530 16,350 7,977 230,665 62,054 $ (1,063) 14,665 21,368 97,024 $ 100.0 % Revenue Less Transaction Costs 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 133,641 $ 4.3 % 0.6 % 5.0 % 4.2 % 0.7 % 0.4 % 10.2 % $ 2.7% (0.0)% 0.6 % 0.9 % 4.3 % $ 5.9 % 88,657 19,264 107,921 103,793 42,582 7,484 261,780 51,010 25,489 15,623 21,910 114,032 147,748 100.0 % 3.6 % 0.8% 4.3 % 4.2 % 1.7 % 0.3 % 10.5 % 2.1% 1.0 % 0.6 % 0.9 % 4.6% 5.9 % September 30, 2021 2,713 $ $ $ $ $ $ 92,244 19,395 111,639 117,302 30,979 9,465 269,385 51,678 63,647 16,753 25,201 157,279 112,106 100.0 % 3.4 % 0.7 % 4.1 % 4.3 % 1.1 % 0.3% 9.9 % 1.9 % 2.3 % 0.6 % 0.9 % 5.8 % 4.1 % $ $ $ $ $ $ $ December 31, 2021 4,458 127,087 26,558 153,645 138,355 57,690 11,321 361,011 65,265 52,640 17,700 41,849 177,454 183,557 100.0 % 2.9 % 0.6 % 3.4 % 3.1 % 1.3 % 0.3 % 8.1 % 1.5 % 1.2 % 0.4 % 0.9 % 4.0 % 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% 31#32Annual 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, 2020 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 Twelve Months Ended 4,637 256,752 19,340 276,092 186,730 31,907 14,799 509,528 161,452 105,067 32,316 49,831 348,666 160,862 100.0 % 5.5 % 0.4 % 6.0 % 4.0 % 0.7 % 0.3 % 11.0 % 3.5 % 2.3 % 0.7 % 1.1 % 7.5 % 3.5 % $ $ $ $ $ $ $ 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 % 32#33Income Income Statement Reconciliations ($K) Total Revenue Operating Expenses Loss on loan purchase commitment Provision for credit losses Funding costs Processing and servicing Total Transaction Costs Statement Reconciliations December 31, 2020 Less: Processing and servicing Revenue Less Transaction Costs Plus: Provision for credit losses March 31, 2020 June 30, 2020 $ Plus: Enterprise warrant and share-based expense Plus: Other costs* Adjusted Operating Income (Loss) $ $ 138,273 $ $ $ 43,519 $ 82,216 8,204 13,678 147,617 33,654 7,108 31,399 219,778 $ Technology and data analytics Sales and marketing $ General and administrative Total Operating Expenses Operating Income (Loss) Reconciliation from Revenue to Revenue Less Transaction Costs and Revenue Less Transaction Total Revenue $ (81,505) $ $ 138,273 $ Less: Loss on loan purchase commitment Less: Provision for credit losses Less: Funding costs 43,519 82,216 8,204 $ Revenue Less Transaction Costs ex-Provision 72,872 $ Reconciliation from from Operating Income (Loss) to Adjusted Operating Income (Loss) Operating Income (Loss) Plus: Depreciation and amortization Plus: Stock-based compensation expense 13,678 (9.344) $ 82,216 (81,505) $ 2,877 7,970 (70,658) $ 153,332 $ 55,311 $ (32,171) 7,817 14,806 45,763 September 30, 2020 $ 31,744 5,066 31,439 114,012 $ 39,320 $ 153,332 $ 55,311 (32,171) 7,817 14,806 107,569 $ (32,171) 39,320 2,023 5,400 75,398 $ $ 46,743 $ 173,978 $ 65,868 28,931 10,352 13,498 118,649 33,768 22,582 32,273 207,272 $ (33,294) $ $ 13,498 55,329 28,931 $ 173,978 $ 65,868 28,931 10,352 $ 84,260 $ (33,294) $ 3,720 6,203 14,261 1,191 (7,919) $ Three Months Ended March 31, 2021 204,041 $ 67,768 $ 12,521 12,060 16,802 109,151 $ 41,634 39,112 40,916 230,813 $ (26,772) $ 204,041 $ 67,768 12,521 12,060 16,802 94,890 $ 12,521 107,411 $ (26,772) $ 3,351 6,521 17,039 2,971 3,110 $ 230,665 $ 62,054 (1,063) 14,665 21,368 97,024 104,806 58,184 179,999 440,013 $ (209,348) $ 230,665 62,054 (1,063) 14,665 $ $ $ 21,368 133,641 $ (1,063) 132,578 $ June 30, 2021 (209,348) $ 5,021 179,639 16,668 12,953 4,933 $ September 30, 2021 261,780 $ 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 affirm) 3. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges 4. Metrics are unaudited 51,010 25,489 15,623 21,910 114,032 $ 69,128 62,312 130,561 376,033 $ (114,253) $ $ 261,780 $ 51,010 25,489 15,623 21,910 147,748 $ 25,489 173,237 $ (114,253) $ 7,887 100,144 16,853 3,582 14,213 $ 269,385 $ 51,678 63,647 16,753 25,201 157,279 78,013 63,960 136,204 435,456 $ (166,071) $ $ $ 269,385 $ 51,678 63,647 16,753 25,201 112,106 $ 63,647 175,753 $ (166,071) $ 10,541 93,189 17,039 209 (45,093) $ December 31, 2021 March 31, 2021 361,011 $ 65,265 $ 52,640 17,700 41,849 177,454 94,989 143,476 141,292 557,211 $ (196,200) $ $ 361,011 $ 65,265 52,640 17,700 41,849 183,557 $ 52,640 236,197 $ (196,200) $ 11,964 88,537 87,673 94 (7,932) $ 354,762 46,853 66,294 15,824 43,371 172,342 110,291 156,214 142,466 581,313 (226,551) 354,762 46,853 66,294 15,824 43,371 182,420 66,294 248,714 (226,551) 13,102 98,387 119,039 25 4,002 33#34Income Statement Reconciliations Income Statement Reconciliations ($K) Total Revenue Operating Expenses 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 Total Operating Expenses Operating Income (Loss) 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 Revenue Less Transaction Costs Plus: Provision for credit losses Revenue Less Transaction Costs ex-Provision 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: Other costs* Adjusted Operating Income (Loss) $ $ $ $ $ $ $ $ $ $ Fiscal Year June 30, 2020 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. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges affirm) 4. Metrics are unaudited Twelve Months Ended 509,528 $ 161,452 105,067 32,316 49,831 348,666 122,378 25,044 121,230 617,318 $ (107,790) $ 509,528 161,452 105,067 32,316 49,831 160,862 105,067 265,929 (107,790) 9,444 30,089 (68,257) $ $ $ $ $ $ $ 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) 870,464 246,700 65,878 52,700 73,578 431,608 65,878 497,486 (383,667) 19,979 292,507 64,821 20,697 14,337 34#35GAAP 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 Other Operating Expenses Total Operating Expenses $ $ $ $ $ GAAP 46,853 $ 66,294 15,824 43,371 172,342 $ $ 110,291 156,214 142,466 408,971 $ 581,313 $ D&A O 0 O 124 124 Compensation Expense $ $ $ Three Months Ended March 31, 2022 Stock-Based 10,058 2,372 549 12,978 $ 13,102 $ 0 0 650 650 Enterprise Warrant & Share Based Expenses $ $ $ 33,639 5,998 58,100 97,737 $ 98,387 $ 000 0 119,039 Notes: affirm) 1. Metrics are unaudited 2. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges $ O 0 $ $ 119,039 $ 119,039 $ Other Costs O O O O O OO 0 25 25 25 $ LA $ tA $ $ $ Non-GAAP 46,853 66,294 15,824 42,597 171,568 66,594 28,805 83,792 179,192 350,760 35#36GAAP to Non-GAAP Expense Reconciliations, H1'22 Three Months Ended December 31, 2021 Stock-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 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 Other Operating Expenses Total Operating Expenses affirm) $ $ $ $ $ $ $ $ $ $ GAAP GAAP 65,265 $ 52,640 17,700 41,849 177,454 94,989 143,476 141,292 379,757 $ $ $ 557,211 $ 51,678 $ 63,647 16,753 25,201 157,279 $ $ 78,013 63,960 136,204 278,177 $ 435,456 $ D&A D&A O 0 O 108 108 9,012 2,377 467 11,856 11,964 O O O 227 227 7,418 482 2,414 10,314 Compensation Expense $ $ $ $ $ $ $ $ $ Compensation Expense 10,541 $ 0 0 530 530 Stock-Based 21,427 4,633 61,947 88,007 $ 88,537 $ Enterprise Warrant & Share Based Expenses $ $ $ Three Months Ended September 30, 2021 0 0 O 356 356 $ $ Enterprise Warrant & Share Based Expenses $ 20,067 5,024 67,742 92,833 $ 93,189 $ 000 Notes: 1. Metrics are unaudited 2. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges O 0 0 87,673 0 87,673 87,673 O Oo oo $ 17,039 $ $ $ $ $ $ O $ 17,039 0 17,039 $ $ Other Costs Other Costs O O O O O O O 0 94 94 O O O O O $ LA 209 209 $ tA $ 94 $ $ $ $ 0 $ 0 $ 209 $ Non-GAAP 65,265 52,640 17,700 41,211 176,816 64,550 48,794 78,784 192,127 368,942 Non-GAAP 51,678 63,647 16,753 24,618 156,696 50,528 41,415 65,839 157,782 314,478 36#37GAAP to Non-GAAP Expense Reconciliations, H2'21 ($ 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 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 Other Operating Expenses Total Operating Expenses $ $ $ $ $ $ $ $ $ $ GAAP GAAP 51,010 25,489 15,623 21,910 114,032 $ $ 69,128 $ 62,312 130,561 262,001 $ 376,033 $ 62,054 $ (1,063) 14,665 21,368 97,024 $ 104,806 58,184 179,999 342,989 $ 440,013 $ $ D&A D&A O O O 153 153 5,178 636 1,920 7.734 7,887 O O O 120 120 Compensation Expense $ $ $ $ $ $ $ Three Months Ended June 30, 2021 Stock-Based 3,655 $ 475 771 4,901 5,021 $ $ 0 0 O Compensation Expense 459 459 $ Enterprise Warrant & Share Based Expenses $ $ 19,817 5,183 74,685 99,685 $ 100,144 $ Three Months Ended March 31, 2021 Stock-Based 0 0 0 1,446 1,446 $ 52,058 $ 10,568 115,567 178,193 179,639 O O O Oc Enterprise Warrant & Share Based Expenses $ $ $ $ +A 0 $ 16,853 0 16,853 16,853 lo $ $ $ 0 $ 0 tA $ O $ 16,668 0 16,668 $ 16,668 $ Other Costs Other Costs O O O O O 0 $ O O OO O o o o o $ 3,582 3,582 3,582 $ 0 $ LA $ $ LA $ $ 12,953 12,953 $ 12,953 $ Non-GAAP 51,010 25,489 15,623 21,298 113,420 44,133 39,640 50,374 134,147 247,567 Non-GAAP 62,054 (1,063) 14,665 19,802 95,458 49,093 30,473 50,708 130,274 225,732 Notes: 1. FY Q3'21 and FY Q4'21 amounts include adjustments to amounts previously reported due to understatements in certain prior period amounts related to the fair value measurement of contingent consideration and stock-based compensation 37 affirm) 2. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges 3 Metrics are unaudited#38GAAP to Non-GAAP Expense Reconciliations, H1'21 Three Months Ended December 31, 2020 Stock-Based Enterprise Warrant & Share Based 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 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 $ affirm) $ $ $ $ $ $ $ $ GAAP $ GAAP 67,768 $ 12,521 12,060 16,802 109,151 $ 41,634 $ 39,112 40,916 121,662 230,813 $ $ 65,868 $ 28,931 10,352 13,498 118,649 $ 33,768 $ 22,582 32,273 88,623 207,272 $ D&A $ D&A சு எ 0 0 0 85 85 Compensation Expense O O 0 77 77 $ $ 2,723 439 104 3,266 $ 3,351 $ $ $ $ 3,124 $ 406 113 3,643 $ 3,720 $ 0 0 O Stock-Based 287 287 2,556 581 3,097 6,234 6,521 Compensation Expense 0 0 0 26 26 Three Months Ended September 30, 2020 $ 2,213 760 3,204 6,177 $ 6,203 $ $ $ $ O O O O O Enterprise Warrant & Share Based Expenses $ $ $ 0 $ 17,039 0 17,039 17,039 lo $ tA 0 14,261 0 14,261 $ 14,261 0 $ 0 $ $ tA $ $ Technology and data analytics Sales and marketing General and administrative Other Operating Expenses Total Operating Expenses 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; FY Q3'21 amounts include adjustments to amounts previously reported due to an adjustment to stock-based compensation expense 2. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges 3. Metrics are unaudited $ Other Costs $ Other Costs 0 $ O O O O O 0 $ 942 2,029 2,971 $ 2,971 $ O O O OC 0 $ $ 0 1,191 1,191 1,191 LA $ $ LA Non-GAAP $ $ 67,768 12,521 12,060 16,430 108,779 200,931 Non-GAAP 36,355 20,111 35,686 92,152 65,868 28,931 10,352 13,395 118,546 28,431 7,155 27,765 63,351 181,897 38#39GAAP to Non-GAAP Expense Reconciliations, H2'20 ($ 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 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 Other Operating Expenses Total Operating Expenses affirm $ $ $ $ $ $ $ $ $ $ GAAP GAAP 55,311 $ (32,171) 7,817 14,806 45,763 $ 31,744 $ 5,066 31,439 68,249 $ 114,012 $ 43,519 $ 82,216 8,204 13,678 147,617 $ $ 33,654 7,108 31,399 72,161 $ 219,778 $ D&A D&A O oc 40 40 1,702 237 44 1,983 2,023 O O O 87 87 Compensation Expense $ $ $ $ $ $ $ $ LA Three Months Ended June 30, 2020 Stock-Based Compensation Expense 2,188 503 99 2,790 $ 2,877 $ 0 0 O 28 28 1,988 868 2,496 5,352 Enterprise Warrant & Share Based Expenses $ $ 5,380 $ 0 0 0 27 27 $ Three Months Ended March 31, 2020 Stock-Based 3,360 918 3,665 7,943 $ Enterprise Warrant & Share Based Expenses $ $ $ $ 7,970 $ O O O O O Notes: 1. Metrics are unaudited 2. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges Oo oo 000 To oooo $ tA $ $ $ $ $ LA $ $ $ Other Costs Other Costs O O O O O 0 $ O O O O 0 O O O O c ܘ ܘ ܘ ܘ $ $ LA $ $ $ LA $ $ $ Non-GAAP 55,311 (32,171) 7,817 14,738 45,695 28,054 3,961 28,899 60,914 106,609 Non-GAAP 43,519 82,216 8,204 13,564 147,503 28,106 5,687 27,635 61,428 208,931 39#40GAAP to Non-GAAP ($ 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 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 Other Operating Expenses Total Operating Expenses Non-GAAP Expense Reconciliations, H1'20 affirm $ $ $ $ $ $ $ $ $ $ GAAP GAAP 42,661 $ 30,178 8,167 11,652 92,658 $ 31,612 $ 7,651 30,688 69,951 $ 162,609 $ 19,961 $ 24,844 8,128 9,695 62,628 25,368 5,219 27,704 58,291 $ $ $ 120,919 $ D&A D&A O 0 O 82 82 1,808 457 85 2,350 O O 0 60 60 1,601 388 62 2,051 Compensation Expense $ $ $ 2,432 $ $ $ $ Three Months Ended December 31, 2019 Stock-Based $ $ 2,111 $ OOONN Stock-Based 32 Compensation Expense 32 Enterprise Warrant & Share Based Expenses $ $ $ 3,610 963 3,689 8,262 $ 8,294 $ Three Months Ended September 30, 2019 Enterprise Warrant & Share Based Expenses $ 0 0 0 (5) (5) $ $ 3,327 1,291 3,812 8,430 $ 8,425 $ O O O O O Notes: 1. Metrics are unaudited 2. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges Oo oo O O O lo oooo $ tA $ $ $ $ $ LA $ $ $ Other Costs Other Costs O O O O O 0 $ O O O O 0 O O O O c ܘ ܘ ܘ ܘ $ $ LA $ $ $ LA $ $ $ Non-GAAP 42,661 30,178 8,167 11,538 92,544 Non-GAAP 26,194 6,231 26,914 59,339 151,883 19,961 24,844 8,128 9,640 62,573 20,440 3,540 23,830 47,810 110,383 40#41GAAP to Non-GAAP Expense Reconciliations, FY'21 and FY'20 ($ 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 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 Other Operating Expenses Total Operating Expenses affirm $ $ $ $ $ $ $ $ $ $ GAAP GAAP 246,700 $ 65,878 52,700 73,578 438,856 $ 249,336 $ 182,190 383,749 815,275 $ 1,254,131 $ 161,452 $ 105,067 32,316 49,831 348,666 $ 122,378 $ 25,044 121,230 268,652 617,318 $ $ D&A D&A O O O 435 435 O 0 0 269 269 Compensation Expense $ $ $ 14,680 1,956 2,908 19,544 $ 19,979 $ $ $ 7,299 $ 1,585 290 9,174 Twelve Months Ended June 30, 2021 Stock-Based Compensation Expense $ 9,443 $ 0 0 O 2,218 2,218 76,644 17,092 196,553 290,289 $ 292,507 $ Twelve Months Ended June 30, 2020 Stock-Based 0 0 0 82 82 Enterprise Warrant & Share Based Expenses $ 12,285 4,040 13,662 29,987 $ $ 30,069 $ $ Enterprise Warrant & Share Based Expenses $ $ $ O O O O O Notes: 1. Metrics are unaudited 2. Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges 0 $ 64,821 0 64,821 64,821 $ 000 lo $ oooo $ $ $ tA $ $ $ Other Costs 0 $ Other Costs O O O O O 0 $ 942 19,755 20,697 $ 20,697 $ O O O O O $ 0 $ ܘ ܘ ܘ ܘ $ $ $ Non-GAAP 246,700 65,878 52,700 70,925 436,203 158,012 97,379 164,533 419,924 856,127 Non-GAAP 161,452 105,067 32,316 49,480 348,315 102,794 19,419 107,278 229,491 577,806 41