#1Investor Presentation First Fiscal Quarter 2023 affirm) 9:41 You're prequalified to Pay in 4 with Affirm GOOD MORNING, ALEX SHOP YOUR FAVORITE STORES Shop $2,000 Prequalified to spend Where are you shopping? Shop now % As low as 0% APR EXPIRES IN 4 DAYS Get as low as 0% APR on Prime Day Virtual card 0 Shop ** Brass KEY STREN m In store#2Safe Harbor Statement/Use of Non-GAAP Financial 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 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. Industry and Market Data This presentation contains estimates and information concerning our industry, including market position and the size and growth rates of the markets in which we participate, that are based on industry publications and reports or other publicly available information. Industry surveys and publications generally state that the information contained therein has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy and completeness of the included information. We have not independently verified this third-party information. affirm 2#3Our Mission: Deliver Honest Financial Products that Improve Lives affirm#4affirm 9:41 Shop Where are you shopping? Popular right now Peloton Expedia Telek The Real- Nik Target Vour stores Best Buy View all Priceline SAMS TIMANACOT Investment Summary Fintech category leader with massive growth and rapidly expanding market opportunities Powerful two-sided network with growing consumer and merchant bases reinforcing one another Technology-driven advantages across products, underwriting, risk management and capital markets expertise Compelling business model with strong growth and attractive unit economics at scale 4#5Fintech Category Leader affirm#6Large and Rapidly Expanding Market Opportunity affirm 2021 $900B $34B $12B North America E-commerce market BNPL Affirm GMV 1. Gross Merchandise Volume ("GMV") defined as the total dollar amount of all transactions on the Affirm platform for the twelve months ending December 31, 2021, net of refunds $750B 1.6% 2020A North America E-commerce spend Source: emarketer, Statista & Worldpay FIS $900B 3.8% 2021A $1,500B 8.5% 2025P BNPL share of North America E-commerce spend 6#7Affirm's Integrated Partners Address More than 60% of U.S. Retail E-Commerce Sales Amazon affirm Shopify Walmart eBay Apple Home Depot Target Best Buy Costco Wayfair 2.2% 2.0% 1.8% 1.6% 1.3% 4.2% 4.0% Source: eMarketer, October 2021 6.6% 10.3% 41.0% Affirm US partners Affirm Canada partner 7#8Leadership Driven by Durable Competitive Advantages Trusted brand for the next generation of consumers and merchants affirm Powerful network of merchants and consumers sic Technology is a core competitive advantage Compelling business model ● ● ● ● ● Proven highly-effective demand generation and customer acquisition tools for merchants Reinforcing network effects expanding over time Purpose-built technology infrastructure creating differentiated and scalable products Proprietary data and risk models generating better outcomes Driving hyper growth Attractive unit economics Efficient capital funding capabilities 8#9Powerful Two- Sided Network affirm#10Delivering Value for Consumers and Merchants FOR CONSUMERS Flexible payment term options Never pay more than agreed affirm No late or hidden fees Transparent and easy to understand affirm FOR MERCHANTS Customer Insights Minimize Discounting Greater Sales Satisfied Customers 10#11Platform Strengthens With Every Transaction affirm) Deeper Insights Experienc More Consumers affirm) $17.2B GMV1¹ 1. Twelve months ending September 30, 2022 More Transactions Larger Ecosystem More Products More Merchants 11#12Advantages Position Affirm as Industry Partner of Choice Exceptional Technology Quality, Reliability, Scalability and Ease of Use Wide Breadth of Offerings with Ability to Address Broad Range of Transaction Types affirm Superior Risk Management Proprietary Underwriting and Capital Markets Expertise Affirm partners with half of the top 10 U.S. retailers and commerce platforms - more than the next two largest core BNPL providers combined Walmart Alignment & Transparency No Late or Hidden Fees shopify amazon TARGET *wayfair American Airlines 9:41 Best Buy Prequalified $2000 How to shop with Affirm Tap Shop now to explore Best Buy. When you're ready to check out, tap the card loon at the bottom of your screen to get a virtual card that you'll use to pay. You can also shop with the deals below Deals (8) Save up to $500 on select big screen TVs SAMSUNG Expedia View All Shop now Shop 9:41 Popular right now a Amazon Your stores Expedie Target Where are you shopping? Nike Up to 40% Off Sale Deals of the week Base today's deals The Wayfair Be 12#13Partnerships Across Wide Range of Consumer Categories General Merchandise Fashion Beauty Travel / Ticketing Home / Lifestyle Electronics Equipment / Auto Sporting Goods and Outdoors affirm Other Diversified Across Categories FQ1'23 Industry Gross Merchandise Volume Mix 7% 6% 7% 12% 11% 10% Notes: 1. Metrics are unaudited 2. Excludes volume from transactions facilitated through Affirm virtual card at non-integrated merchants 19% 29% Category Volume Growth Q1 Year over Year % Change +508% +36% +90% +15% +32% +15% (42)% +115% 13#14Growing Consumer & Merchant Bases Reinforce One Another 2.0 FY'19 affirm Active Consumers (M) 90% CAGR 3.6 FY'20 7.1 FY'21 14.0 FY'22 Gross Merchandise Volume ($B) 2.6 81% CAGR 4.6 FY'19 FY'20 8.3 FY'21 15.5 FY'22 Active Consumers defined as consumers who engage in at least one transaction on Affirm's platform during the 12 months prior to the measurement date Gross Merchandise Volume ("GMV") defined as the total dollar amount of all transactions on the Affirm platform during the period, net of refunds Active Merchants defined as merchants which engaged in at least one transaction on Affirm's platform during the 12 months prior to the measurement date All metrics are unaudited 3,100 FY'19 Active Merchants 5,700 324% CAGR FY'20 29,000 FY'21 235,000 FY'22 14#15Technology-Driven Advantages affirm#16Seamless Checkout Experience affirm) solstice.com Merritt Belt Bag $500 4 interest-free payments or as low as $44/month. with affirm. Learn more Add to bag Solstice Your Bag solstice.com Solstice Merritt Belt Bag Quantity: 1 а Checkout $500.00 Subtotal: $500.00 4 interest-free payments or as low as $44/month with affirm Pick a payment plan Choose the plan that's best for you-with no fees, ever. Payment options are subject to final eligibility and approval. Learn more PURCHASE AMOUNT $125.00/2 weeks APR 0.00% See details affirm $85.82 /month APR 10.00% $43.99/month APR Interest $0.00 There's no interest. Just pay for what you buy. No impact on your credit score. ✓ Pay every 2 weeks with debit or credit. Interest $14.92 Interest $500.00 8 weeks Total $500.00 6 months > Total $514.92 12 months > Total Pick a payment plan Choose the plan that's best for you-with no Fees? Never. It's that simple. We don't charge fees, even if you pay late or early. With monthly plans, late payments may affect your credit score, and early payments can save you interest. affirm $85.82 /month There's no interest. Just pay for what you buy. ✓ No impact on your credit score. ✓ Pay every 2 weeks with debit or credit. APR 10.00% $43.99/month OK Interest $14.92 6 months Total $514.92 12 months > affirm Thank you for buying with Affirm! Please wait while we redirect you to Solstice for your order confirmation. Do not close your browser window. 16#17Strong Track Record of Innovation Integrated Checkout Pay over time with a 0% APR or interest-bearing loan at Affirm's partner merchants 12:00 affirm STEP 2 OF 4 Pick a payment plan You can split up your $1,200.00 purchase a few different ways. There are no hidden fees. affirm) $200.00/mo for 6 months TOTAL INTEREST (0% APRI $0.00 $105.61/mo for 12 months TOTAL INTEREST (10% APRO $67.32 $72.17/mo for 18 months TOTAL INTEREST 005 APR) $99.06 2013 Virtual Card Universally accepted method of payment on Visa rails 12:00 affirm Here's a one-time card to use at Casper shops This $1,200.00 card is for the exclusive use of John Smith at Casper shops. EXPIRES 03/22 123 4259 5409 3481 4034 all Loan details Edit amount This card is valid for 12:00:00 How do I use this card? > How do I use the virtual card? Cancel card > Where can I use the virtual card? 2016 Split Pay 0% APR biweekly payment option 9:41 affirm ACME RETAIL Buy now, pay over time Example payments for $62.50 /blweekly APR 0.00% Interest $0.00 $250.00 4 payments Get started Total $250.00 No impact on your credit Your score won't be affected, and you'll never pay interest or late fees. Use your debit or credit card Pay every 2 weeks-4 interest-free payments. Payment options are offered by Affirm and are subject to eligibility check and may not be available in all states. California residents: Affirm Loan Services, LLC is licen by the Department of Business Oversight. Loans are or arranged pursuant to California Financing Law 60DBO-111681. 2018 Marketplace Personalized data-driven product discovery 9:41 Shop Q Search for any store. Top picks ak Walmart. As low as 05 adidas 500 Personalize your shopping experience Shop Get started 0% APR Shop by category ST View all 2019 Savings FDIC-insured, interest-bearing savings account 12:00 1 $2,120.30 Interest earned VTD $16.20 Withdraw Activity Deposit December 11, 2018 Savings balance Earned interest December 1, 2018 Deposit November 30, 2018 Deposit November 15, 2018 Deposited in March $120.00 Add money +$120.00 +$2.01 +$120.00 +$ 2020 17#18Accelerating Product Roadmap Browser Extension Adaptive CheckoutTM Dynamically provides optimized biweekly and monthly payment options in a single integrated checkout solution 12:00 1 X $120.94 /2 weeks APR 0.00% See details $82.91 /month APR 10.00% $42.49 /month APR 10.00% affirm) See details See details affirm Interest $0.00 Interest $14.46 Interest $26.88 8 weeks > Total $483.75 6 months > Total $497.46 12 months > Total $509.88 2021 Enables consumers to pay with Affirm for virtually any online purchase via Google Chrome affirm 1 Pay over time with a one-time use virtual card 2 You're prequalified for $2,000 at Dan's Decor 3 Request a one-time-use card Fill your cart and head to checkout. Click "Request a one-time-use card." Use the card to complete yo Ộ 2021 SuperApp Combines commerce, payments and financial services into one app 9:41 1 GOOD AFTERNOON, MAX Your Target $56.33 payment is due Friday. Make a Payment. Shop You're prequalified to Pay in 4 with Affirm ACCOUNTS $1,254+ You can spend As low as 0% APR Get as low as 0% APR in the App Shop now ● CASH BACK $103.32 Total earned One-time- use card all 000* SAVE $321.09 Balance ML In-store 2022 Crypto Savings Allows customers to buy/sell crypto directly from savings account 9:41 Total holdings $15,800.55 Interest earned YTD $32.18 Your current holdings B Affirm Savings Affirm Savings ... 1234 Bitcoin Holdings # Balance as of 1:50:12pm Portfolio Settings Crypto Interest YTD $8.55 Portfolio view Crypto Interest Manage $15.792.00 Bitcoin accounts and services provided by NYDIG Terms. Bitcoin is not insured by the FDIC, Biton security and NYDIC is not an SEC-registered Bitcoin balances in your NYDIG account by the Securities Investor Protection Corp mi SH $8.55 0.00022 BTC Beta Affirm Debit+ Debit card that supports debit transactions and also enables consumers to split eligible purchases into installments via the app affirm debit+ ebit+ Beta 18#19Wide Breadth of Offerings affirm Consumer Offerings 0% APR Installment Loans Interest Bearing (IB) Installment Loans Pay in 4 Merchant Services User Acquisition Customer Insights affirm) debit+ Returnly 9:41 O 9:41 Wednesday, September 8 Split your purchase now debit+Your $128.00 The Home Store purchase is splittable for the next 24 hours. 19#20Ability to Address Wide Range of Transaction Types Terms ranging from six weeks to 60 months, and cart sizes from $50 - $17,500+ Merchant Discount Rate APR Term Lengths Payment Frequency affirm Representative AOV¹ Split Pay Up to 8% 0% APR 6-8 weeks Bi-Weekly $100-250 Short Term 0% 4-8% 0% APR 3-12 months 1. Representative AOV is the illustrative average order value for typical merchants offering this product. All metrics are unaudited. Monthly $500-$750 Long Term 0% 8-15+% 0% APR 13-60 months Monthly $800-$1,200 Simple Interest- Bearing Up to 5% 10-36% APR 3-60 months Monthly $500-$1,000 20#21Sophisticated Technology Powers Platform Innovation Full Control • Adaptability of systems Predictability Unique Datasets ● ● AI/ML-Based Feedback Loop ● Product level information Consumer insights ● Real-time fraud decisions Sophisticated funding affirm Breadth & Depth of Data Fully Managed & Optimized Ledger Flexibility and Scale World Class Technology Team ¡T 21#22Risk Management Starts Before an Application is Submitted New Merchant Proprietary Underwriting All merchants undergo evaluation and approval process to review key business metrics and assess potential risks to help inform pricing. affirm) 500+ Data points for risk management Advanced machine learning models provide advantages over traditional credit models and leverage billions of data points to assess every transaction before extending access to credit, including: • Credit bureau data Credit utilization Transaction history • Affirm repayment history Merchant & transaction details ● ● ~80 Specific inputs to detect fraud Constant Monitoring Ongoing monitoring of credit performance and mix at merchant and transaction level provides ability to quickly refine models. Structural advantage of Affirm's short weighted- average-life of loan of 5 months provides increased flexibility and agility. 70M+ Loans power and improve models 22#23Affirm Underwrites Every Transaction Before Extending Access to Credit Transaction Details Additional Variables affirm Merchant Profile affirm Machine Learning Affirm Repayment History Credit Bureau Transaction History Credit utilization Immediate Credit Decisioning Based Upon: 1. Point-in-time repayment probability 2. Estimate expected loss content / yield 3. Evaluation of ongoing performance and continuously improving underwriting Constant monitoring and ability to quickly adjust limits 4. 23#24Proprietary Underwriting is a Key Competitive Advantage 100% 75% 50% 25% 0% affirm Affirm Can Approve More Consumers with the Same Amount of Losses... 0 1 2 Approval Rates 3 6 8 9 Decile of consumers from most creditworthy to least 4 5 7 10 Affirm Consumer Rank 100% 75% 50% 25% 0% ...Or Take on Less Losses with the Same Amount of Consumers 0 1 Cumulative Delinquencies 2 3 5 7 8 Decile of consumers from most creditworthy to least 4 FICO Consumer Rank 6 9 For a given level of risk, our proprietary model is capable of accepting significantly more applications when compared to FICO's scoring methods through a superior ability to price risk. Alternatively, for any given consumer sub-segment, our model produces lower risk outcomes than FICO scoring. 10 24#25Volume Concentrated in Highest Credit Quality Transactions High ITACS consumers drive the majority of our GMV, Revenue, and Profitability affirm 1. 2. Projected NACO and Volume Concentration (By Proprietary ITACS Score of Transaction) Highest losses at lowest ITACS driving minimal volume All metrics are unaudited. III Highest Volume @ Low Loss ITACS is Affirm's proprietary transaction credit scoring; dataset includes Affirm loans originated and purchased from originating bank partners in the United States Projected NACO defined as projected dollar losses on a vintage of loans divided by total loan volume (in dollars) Volume Projected NACO 25#26Compelling Business Model affirm#27Driving Hyper Growth with Attractive Economics Gross Merchandise Volume (GMV)¹ ($B) affirm 2.6 FY 19 81% CAGR 4.6 FY 20 8.3 FY 21 15.5 FY 22 $264 FY 19 Total Revenue ($M) 72% CAGR $510 FY 20 $871 FY 21 $1,349 FY 22 $54 FY 19 Revenue Less Transaction Costs² ($M) 130% CAGR $161 FY 20 1. Gross Merchandise Volume ("GMV") is the total dollar amount of all transactions on the Affirm platform during the applicable period, net of refunds. 2. Transaction Costs is a non-GAAP financial measure equal to the sum of loss on loan purchase commitment, provision for credit losses, funding costs, and processing and servicing expense. All metrics are unaudited. $432 FY 21 $662 FY 22 27#28Disciplined Investment Approach Based on Growth GMV Growth Total Revenue Growth Revenue as a % of GMV Revenue Less Transaction Costs as a % of GMV Revenue Less Transaction Costs as a % of Revenue Adjusted Other Operating Expenses as a % of Revenue¹ Adjusted Operating Margin² affirm Actual FY 2021 79% 71% 10% 5% 50% 48% "Hyper Growth" 2% Actual FY 2022 87% 55% 9% 4% 49% 55% (6)% Current Period Outlook FY 2023 32-39% 19-24% ~8% ~3.5% 45-46% 51-52% (7.0)%-(5.5)% "Growth" @ 30-40% GMV Growth 30-40% 20-30% ~8% 3-4% 37.5-50% 37.5-40% 0-10% "Long Term" @ <30% GMV Growth 6-8% 3-4% 37.5-50% 17.5-20% 20-30% FY 2023P growth rates and margins correspond to Affirm's FY23 Financial Outlook, as provided on November 8, 2022; "Growth" and "Long Term" Growth rates and margins correspond to Affirm's long-term financial framework presented on September 28, 2021. All metrics are unaudited. 1. Adjusted Other Operating Expenses is a non-GAAP financial measure that is equal to total operating expenses excluding (a) transaction costs; (b) depreciation and amortization; (c) stock-based compensation included in GAAP operating expenses; (d) the expense related to warrants and share-based payments granted to enterprise partners; and (e) certain other costs. 2. Adjusted Operating Margin is a non-GAAP financial measure that is equal to operating income (loss) excluding (a) depreciation and amortization; (b) stock-based compensation included in GAAP operating expenses; (c) the expense related to warrants and share-based payments granted to enterprise partners; and (d) certain other costs, divided by total revenue. 28