#1SoFi *** Q4 & FY 2023 Summary Results January 2024 O#2| Disclaimer SoFi Use of Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted Net Revenue, Adjusted EBITDA and Adjusted EBITDA Margin, Tangible Book Value and adjusted loss per share. These non-GAAP measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net revenue, net income (loss), operating income or any other performance measures derived in accordance with GAAP. Reconciliations of non-GAAP measures to their most directly comparable U.S. Generally Accepted Accounting Principles (GAAP) counterparts are included in the Non-GAAP Reconciliations section of this presentation. SoFi believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about SoFi. SoFi's management uses non-GAAP measures to evaluate our operating performance, formulate business plans, help better assess our overall liquidity position, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. However, these non-GAAP measures have limitations as analytical tools. Other companies may not use these non-GAAP measures or may use similar measures that are defined in a different manner. Therefore, SoFi's non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Additionally, forward-looking non-GAAP financial measures are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures because the GAAP financial measures are not accessible on a forward-looking basis and reconciling information is not available without unreasonable effort due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments reflected in our reconciliation of historic non-GAAP financial measures, the amounts of which, based on historical experience, could be material. Cautionary Statement Regarding Forward-Looking Statements This document contains certain forward-looking statements and as such are not historical facts. This includes, without limitation, statements regarding our expectations for the first quarter of 2024 adjusted net revenue, adjusted EBITDA, adjusted EBITDA margin and GAAP net income, our expectations regarding full year 2024 lending revenue, revenue and growth in our Technology Platform and Financial Services segments, expenses, adjusted EBITDA margin, GAAP net income, and tangible book value, quarterly and full year member growth, our expectations regarding compound revenue growth through 2026, growth in our segment revenue and EPS expectations beyond 2026, our expectations regarding our ability to continue to grow our business and launch new business lines and products, improve our financials and increase our member, product and total accounts count, our ability to achieve diversified growth and larger, more durable revenue, our ability to navigate the macroeconomic environment and the financial position, business strategy and plans and objectives of management for our future operations. These forward-looking statements are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as "achieve", "continue", "expect", "growth", "may", "plan", "strategy", "will be", "will continue", and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: (i) the effect of and our ability to respond and adapt to changing market and economic conditions, including recessionary pressures, fluctuating and interest rates, and volatility from global events; (ii) our ability to achieve profitability, operating efficiencies and continued growth across our three businesses in the future, as well as our ability to continue to achieve GAAP net income profitability and expected GAAP net income margins; (iii) the impact on our business of the regulatory environment and complexities with compliance related to such environment; (iv) our ability to realize the benefits of being a bank holding company and operating SoFi Bank, including continuing to grow high quality deposits and our rewards program for members; (v) our ability to continue to drive brand awareness and realize the benefits or our integrated multi-media marketing and advertising campaigns; (vi) our ability to vertically integrate our businesses and accelerate the pace of innovation of our financial products; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital on acceptable terms or at all, including debt financing and other sources of capital to finance operations and growth; (ix) the success of our continued investments in our Financial Services segment and in our business generally; (x) the success of our marketing efforts and our ability to expand our member base and increase our product adds; (xi) our ability to maintain our leadership position in certain categories of our business and to grow market share in existing markets or any new markets we may enter; (xii) our ability to develop new products, features and functionality that are competitive and meet market needs; (xiii) our ability to realize the benefits of our strategy, including what we refer to as our FSPL; (xiv) our ability to make accurate credit and pricing decisions or effectively forecast our loss rates; (xv) our ability to establish and maintain an effective system of internal controls over financial reporting; (xvi) our ability to maintain the security and reliability of our products; and (xvii) the outcome of any legal or governmental proceedings that may be instituted against us. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties set forth in the section titled "Risk Factors" in our last quarterly report on Form 10-Q, as filed with the SEC, and those that are included in any of our future filings with the SEC, including our annual report on Form 10-K, under the Exchange Act. These forward-looking statements are based on information available as of the date hereof and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS #1121636. SoFi Bank, N.A., NMLS #696891. 2#32023 Year in Review SoFi 8 SoFi Awarded 5 Banking and 2 PL Awards in NerdWallet's 2023 Best-Of Awards January February SoFi Checking and Savings Turns One SoFi Money Offers Up to $2M in FDIC Insurance March SoFi Named to Fast Company's Annual List of the World's Most Innovative Companies SoFi Launches SoFi Travel Powered by Expedia May April SoFi Acquires Wyndham Capital Mortgage SoFi at Work Launches Student Loan Verification Service June SoFi Launches "Face of Finance" Marketing Campaign July SoFi Invest Offers ODDITY IPO to Retail Investors SoFi is Named to CNBC World's Top Fintech Companies List August SoFi Stadium Hosts Taylor Swift and Beyonce SoFi Invest Offers ARM and CART IPOs to Retail Investors September SoFi Invest launches Enhanced Yield ETF November October SoFi Launches "All Your Ambitions, All In One App" Marketing Campaign December SoFi Reaches over 7M Members Consolidated Financial Highlights Segment Financial Highlights Revenue ($ in 000's) 2023 2022 % YoY Adjusted Net Revenue ($ in 000's) 2023 2022 % YoY Net Revenue (GAAP) $2,123 $1,574 35% Lending $1,336 $1,107 21% Servcing Rights (35) (40) -12% Tech Platform 352 315 12% Residual Interest Classified as Debt 0.4 7 -94% Financial Services 437 168 160% Gain on Extinguishment of Corporate Debt (15) n/m Corporate (51) (49) -4% (4) Adjusted Net Revenue (Non-GAAP) $2,074 $1,540 35% (4) Adjusted Net Revenue (Non-GAAP) $2,074 $1,540 35% Adjusted EBITDA ($ in 000's) Adjusted EBITDA Contribution Profit ($ in 000's) (6) Adjusted EBITDA Margin Net Income ($ in 000's) GAAP Net Loss $(301) $(320) -6% Lending Tech Platform Financial Services Contribution Profit Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. $432 21% $143 201% 9% 124% $823 $664 24% 95 77 24% (0) (199) 100% $918 $541 70% © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS #1121636. SoFi Bank, N.A., NMLS #696891. 3#4Members New Member Additions of 585K in Q4, bringing total to over 7.5M (+44% YoY) SoFi 8 (1) Members in thousands 7,542 6,957 6,240 5,656 5,223 4,743 4,319 3,868 3,460 2,937 2,560 2,281 1,851 1,501 1,086 1,204 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 New Members (000s) 430 YoY Growth 279 377 110% 113% 96% 523 87% 70% 408 450 424 480 433 584 717 585 69% 61% 51% 46% 44% 47% 44% Note: See "Footnotes" section for detailed explanations and definitions © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi MoneyⓇ is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 4#5Products New Product Additions of 695K in Q4, Bringing Total to 11.1M (+41% YoY) Products (2) in thousands SoFi 80 11,142 10,448 9,401 8,554 7,895 7,199 6,564 5,862 5,173 4,268 3,667 3,185 2,524 2,053 1,442 1,645 New Products (000s) Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 661 482 601 905 689 702 635 695 660 847 1,047 695 121% 123% 108% 105% 84% 79% 69% 53% 46% 43% 45% 41%* YoY Growth YoY Growth in Products was 45% when when adjusted to exclude the accounts of our now closed digital assets business Note: See "Footnotes" section for detailed explanations and definitions © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi MoneyⓇ is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS #1121636. SoFi Bank, N.A., NMLS #696891. 5#6Galileo Accounts Accounts Total 145M (+11% YoY) Galileo Accounts (3) (15) in millions 49 36 30 89 88 79 70 60 60 SoFi 8 145 137 131 129 124 126 117 110 100 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 YoY Growth 132% 119% 81% 67% 58% 48% 40% 31% 15% 11% 10% 11% Note: See "Footnotes" section for detailed explanations and definitions © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS #1121636. SoFi Bank, N.A., NMLS #696891. 6#7Lending and Financial Services Products Growth in products & members driven by Financial Services products, which reached over 9.4M (+45% YoY) Lending Products (2) (000s): +24% YoY to 1.6M SoFi Financial Services Products (2) (000s): +45% YoY to 9.4M 1,663 1,594 1,504 1,416 1,341 1,280 1,202 1,139 1,079 1,031 945 981 9,479 8,854 7,897 7,138 6,554 5,919 5,362 4,724 4,094 3,237 2,686 2,239 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 YoY Growth 18% 20% 23% 24% 24% 24% 25% 24% 24% Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 YoY Growth 155% 111% 100% 83% 60% 51% 47% 50% 45%* YoY Growth in Financial Services Products was 50% when when adjusted to exclude the accounts of our now closed digital assets business Note: See "Footnotes" section for detailed explanations and definitions © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 7#8Financial Services Productivity Loop FSPL has reached an inflection point, which creates marketing efficiencies and improves xBuy Ratio of Financial Services to Lending Products Total Fin Serv Products Total Lending Products SoFi 8 Q4'23 Total: 11,142K Money: 3,374K Q4'22 Total: 7,895K Money: 2,195K 4.9x Invest: 2,159K Relay: 1,922K 3.8x CC: 171K 6,554 PL: 837K 4,094 SL: 477K HL: 26K 5.7x Relay: 3,337K Invest: 2,381K CC: 245K 9,479 PL: 1,114K SL: 519K 1,079 Q4'21 1,341 Q4'22 1,663 Q4'23 HL: 30K Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS #1121636. SoFi Bank, N.A., NMLS #696891. 8#9Q4 2023 Financial Review#10Quarterly Performance SoFi 80 Record Adjusted Net Revenue of $594M (34% YoY Growth) and record Adjusted EBITDA of $181M (at 30% Margin) Quarterly Adjusted Net Revenue ($M) (4) (6) Quarterly Adjusted EBITDA ($M) $594 $531 $489 $460 $443 $419 $356 $322 $98 $76 $77 $70 $44 $20 $9 $181 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 YoY Growth 51% 58% 43% 37% 27% 34% 11% 16% Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 EBITDA Margin 16% 16% 18% 30% Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 10#11Annual Performance 2023 Adjusted Net Revenue of over $2B and Adjusted EBITDA of $432M Annual Adjusted Net Revenue ($M) (4) Annual Adjusted EBITDA ($M) $621 $451 $1,010 $1,540 $2,074 2019 2020 2021 2022 2023 YoY Growth 38% 63% 52% 35% $ 30 $ 143 SoFi 8 $ 432 $ (45) $ (149) 2019 2020 2021 2022 2023 EBITDA Margin (7)% 3% 9% 21% Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 11#12| FY 2023 Non-GAAP Results vs Guidance SoFi 8 FY 2023 Adj. Net Revenue was $2.07B vs guidance of $2.045-2.065B, representing a $9M beat at the high end Adj. EBITDA was $432M vs. guidance of $386-396M, representing a $36M beat at the high end $ in millions FY 2023 GUIDANCE VARIANCE TO GUIDANCE 2023 Low High Low High Adjusted Net Revenue (4) $2,074 $2,045 $2,065 $29 $9 % Delta 1% 0.4% Adjusted EBITDA (6) $432 $386 $396 $46 $36 Adjusted EBITDA Margin 21% 19% 19% See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 12#13| Q1'24 Non-GAAP Guidance SoFi We expect to deliver $550-560M in Adjusted Net Revenue, $110-120M in Adjusted EBITDA and $10-20M in GAAP Net Income Q1'24 Low Q1'24 High (4) $550 $560 20% 22% $ in millions Adjusted Net Revenue (4 YoY Growth Adjusted EBITDA (6) $110 $120 Adjusted EBITDA Margin 20% 21% Incremental EBITDA Margin 38% 44% GAAP Net Income $10 $20 See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 13#14FY 2024 Guidance We expect to deliver: . Tech Platform and Financial Services growth of 50% or more versus 2023 levels ● Lending segment at 92-95% of 2023 revenue levels ● GAAP Net Income of $95 - $105 million ● Adjusted EBITDA of $580-590 million EPS of $0.07 - $0.08 cents $300 500M of Tangible Book Value growth SoFi 8 This guidance assumes: expenses under the EBITDA line to remain flat, a 50 - 50 revenue split between Lending and the combined Tech Platform and Financial Services segments, as well as Adjusted EBITDA margin ramping to 30% by year end See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 14#15FY 2024 Guidance Lending Segment Financial Services and Tech Platform $ in millions Adjusted EBITDA GAAP Net Income EPS Tangible Book Value Growth Low 92% 2024 GUIDANCE High of 2023 revenue levels $580 $95 $0.07 $300 95% of 2023 revenue levels 50%+ growth from 2023 levels $590 $105 $0.08 $500 SoFi 8 See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 15#16Financial Supplement#17|Company Metrics Q1'21 Company Metrics (in 000s) FY 2021 Q2'21 Q3'21 Q4'21 Q1'22 FY 2022 Q2'22 Q3'22 Q4'22 FY 2023 Q1'23 Q2'23 Q3'23 Q4'23 2020 SoFi Year End 2021 2022 2023 Members (1) QoQ % YoY % 2,281 2,560 2,937 3,460 3,868 4,319 4,743 5,223 5,656 6,240 6,957 7,542 1,851 3,460 5,223 7,542 23.2% 12.2% 14.7% 17.8% 11.8% 11.6% 9.8% 10.1% 8.3% 10.3% 11.5% 8.4% n/a n/a n/a n/a 110.0% 112.6% 95.8% 87.0% 69.6% 68.7% 61.46% 50.9% 46.2% 44.5% 46.7% 44.4% 89.5% 87.0% 50.9% 44.4% (2) Products QoQ % 3,185 3,667 4,268 5,173 5,862 6,564 7,199 7,895 8,554 9,401 10,448 11,142 2,524 26.2% 15.2% 16.4% 21.2% 13.3% 12.0% 9.7% 9.7% 8.4% 9.9% 11.1% 6.6% YoY % 120.8% 122.9% 107.9% 105.0% 84.1% 79.0% 68.7% 52.6% 45.9% 43.2% 45.1% 41.1% n/a 112.9% 5,173 n/a 105.0% 7,895 11,142 n/a n/a 52.6% 41.1% (2) Lending Products 945 981 1,031 1,079 1,139 1,202 1,280 1,341 1,416 1,504 1,594 1,663 918 1,079 1,341 1,663 QoQ % 3.0% 3.8% 5.0% 4.7% 5.5% 5.6% 6.5% 4.7% 5.6% 6.2% 6.0% 4.3% n/a n/a n/a n/a YoY % 12.3% 13.9% 15.4% 17.6% 20.5% 22.5% 24.2% 24.2% 24.4% 25.1% 24.5% 24.0% 15.0% 17.6% 24.2% 24.0% (2) Financial Services Products QoQ % 2,239 2,686 3,237 4,094 4,724 5,362 5,919 6,554 7,138 7,897 8,854 9,479 1,606 4,094 6,554 9,479 39.4% 19.9% 20.5% 26.5% 15.4% YoY % 272.7% 243.0% 179.0% 154.9% 110.9% 13.5% 99.7% 10.4% 10.7% 8.9% 10.6% 12.1% 7.1% n/a n/a n/a 82.9% 60.1% 51.1% 47.3% 49.6% 44.6% 314.6% 154.9% 60.1% n/a 44.6% Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 17#18| Segment Segment Financials SoFi FY 2021 FY 2022 FY 2023 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 2021 Full Year 2022 2023 Lending Segment (in 000's) Student Loan Originations Personal Loan Originations Home Loans Originations $1,004,685 Total Originations 805,689 735,604 $2,545,978 $859,497 1,294,384 792,228 $2,946,109 $967,939 $1,461,405 1,640,572 793,086 $3,401,597 1,646,289 657,304 $3,764,998 $983,804 2,026,004 312,383 $3,322,191 $398,722 2,471,849 332,047 $3,202,618 $457,184 2,809,759 216,246 $3,483,189 $405,789 2,466,093 105,501 $2,977,383 $525,373 2,951,358 89,787 $3,566,518 $395,367 3,740,981 243,123 $4,379,471 $919,330 3,885,967 355,698 $5,160,995 $789,970 3,222,759 308,884 $4,321,613 $4,293,526 $2,245,499 5,386,934 2,978,222 $12,658,682 $2,630,040 9,773,705 966,177 $12,985,381 13,801,065 997,492 $17,428,597 (2) Lending Products" 945 981 1,031 1,079 1,139 1,202 1.280 1,341 1,416 1,504 1,594 1,663 1,079 1,341 1,663 (4) Adjusted Net Revenue $168,037 (10) Directly Attributable Expenses 80,351 Contribution Profit (Loss) " (5) $87,686 $172,232 83,044 $89,188 $215,475 97,807 $117,668 $208,032 102,967 $105,065 $244,372 111,721 $132,651 $250,681 108,690 $141,991 $296,965 116,403 $180,562 $314,930 106,131 $208,799 $325,086 115,188 $209,898 $322,238 138,929 $183,309 $342,481 138,525 $203,956 $346,541 120,431 $226,110 $763,776 364,169 $399,607 $1,106,948 442,945 $664,003 $1,336,346 513,073 $823,273 Technology Platform Segment (in 000's) Technology Platform accounts (3) (15) 69,573 78,902 88,811 Net Revenue (10) Directly Attributable Expenses $46,065 30,380 (5) Contribution Profit (Loss) $15,685 $45,297 32,284 $13,013 $50,225 34,484 $15,741 99,661 $53,299 33,291 $20,008 109,687 116,570 124,333 130,704 126,327 129,356 136,739 $60,805 42,550 $18,255 $83,899 62,058 $21,841 $84,777 65,241 $19,536 $85,652 68,771 $16,881 $77,887 63,030 $14,857 $87,623 70,469 $17,154 $89,923 57,732 $32,191 145,425 $96,907 66,323 $30,584 99,661 130,704 145,425 $194,886 130,439 $315,133 $352,340 238,620 257,554 $64,447 $76,513 $94,786 Financial Services Segment (in 000's) Financial Services products 2,239 2,686 3,237 4,094 4,724 5,362 5,919 6,554 7,138 7,897 8,854 9,479 4,094 6,554 9,479 Net Revenue (10) Directly Attributable Expenses Contribution Profit (Loss) (5) $6,463 41,982 ($35,519) $17,039 41,784 ($24,745) $12,620 52,085 ($39,465) $21,956 57,145 ($35,189) $23,543 73,058 ($49,515) $30,363 84,063 ($53,700) $48,953 101,576 ($52,623) $64,817 108,405 ($43,588) $81,101 105,336 ($24,235) $98,052 102,399 ($4,347) $118,247 114,987 $3,260 $139,115 114,055 $25,060 $58,078 192,996 $167,676 367,102 $436,515 ($134,918) ($199,426) 436,777 ($262) Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 18#19I Non-GAAP Financial Measures FY 2021 FY 2022 FY 2023 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 SoFi 8 2021 Full Year 2022 2023 Net Revenue (GAAP) $195,984 $231,274 Servicing rights - changes in FMV (7) Residual interests classified as debt - changes in FMV (a) Gain on Extinguishment of Corporate Debt (19) Adjusted Net Revenue (Non-GAAP) (4) 12,109 7,951 224 5,717 $272,006 (409) 5,593 $285,608 (9,273) 3,541 $330,344 (11,580) 0 0 0 0 2,963 0 $362,527 (9,098) 2,662 $423,985 (6,182) 1,453 $456,679 (12,791) $472,158 (12,084) (470) 0 0 0 89 0 $498,018 (8,601) (602) 0 $537,209 (7,420) 928 0 $615,404 (6,595) 10 $216,044 $237,215 $277,190 $279,876 $321,727 $356,091 $419,256 $443,418 $460,163 $488,815 $530,717 (14,574) $594,245 $984,872 2,651 22,802 0 $1,573,535 (39,651) 6,608 0 $2,122,789 (34,700) $1,010,325 $1,540,492 425 (14,574) $2,073,940 Lending (Non-GAAP) (4) Technology Platform (GAAP) Financial Services (GAAP) Corporate (Non-GAAP)' (4) $168,037 46,065 6,463 (4,521) $172,232 $215,475 $208,032 $244,372 $250,681 $296,965 $314,930 $325,086 45,297 50,225 53,299 60,805 83,899 84,777 85,652 17,039 12,620 21,956 23,543 30,363 48,953 2,647 (1,130) (3,411) (6,993) (8,852) (4) Adjusted Net Revenue (Non-GAAP) $216,044 $237,215 $277,190 $279,876 $321,727 $356,091 (11,439) $419,256 64,817 (21,981) $443,418 77,887 81,101 $322,238 87,623 98,052 $342,481 89,923 (23,911) $460,163 (19,098) $488,815 118,247 (19,934) $530,717 $346,541 96,907 139,115 11,682 $594,245 $763,776 194,886 $1,106,948 $1,336,346 315,133 352,340 58,078 (6,415) $1,010,325 167,676 436,515 (49,265) (51,261) $1,540,492 $2,073,940 (9) (6) (20) Interest on corporate borrowings - add back Non-interest expenses Adjusted EBITDA $5.008 (216,920) $1,378 (227,353) $4,132 $11,240 $1,366 (268,300) $10,256 $2,593 (277,876) $4,593 $2,649 (315,692) $8,684 $3,450 (339,237) $20,304 $5,270 (380,228) $44,298 $7,069 (380,427) $70,060 $8,000 (392,474) $75,689 $9,167 (421,163) $76,819 $9,784 (442,476) $98,025 $9,882 (422,923) $181,204 $30,221 $10,345 $18,438 (990,449) (1,415,584) $143,346 $36,833 (1,679,036) $431,737 Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 19#20I Non-GAAP Reconciliations SoFi Non-GAAP Reconciliations ($ in 000's) Net Revenue (GAAP) Servicing rights changes in FMV (7) Residual interests classified as debt - changes in FMV (a) Gain on Extinguishment of Corporate Debt (19) Adjusted Net Revenue (Non-GAAP) (4) Net Income/(Loss) - (GAAP) FY 2021 FY 2022 FY 2023 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 2021 Full Year 2022 2023 $195,984 12,109 $231,274 7,951 224 5,717 $272,006 (409) 5,593 $285,608 (9,273) 3,541 $330,344 (11,580) $362,527 $423,985 0 0 0 0 2,963 0 (9,098) 2,662 (6,182) 0 1,453. 0 $456,679 (12,791) (470) $472,158 (12,084) 89 0 $498,018 (8,601) (602) 0 $537,209 (7,420) 928 0 $615,404 (6,595) 10 $216,044 $237,215 $277,190 $279,876 $321,727 $356,091 $419,256 $443,418 $460,163 $488,815 $530,717 (14,574) $594,245 $984,872 2,651 22,802 0 $1,573,535 (39,651) 6,608 0 $2,122,789 (34,700) $1,010,325 $1,540,492 425 (14,574) $2,073,940 ($177,564) ($165,314) ($30,047) ($111,012) ($110,357) ($95,835) ($74,209) ($40,006) ($34,422) ($47,549) ($266,684) $47,913 ($483,937) ($320,407) ($300,742) Non-GAAP Adjustments Interest expense - corporate borrowings (9) Income tax expense (benefit) $5.008 1,099 Depreciation & amortization 25,977 $1,378 (78) 24,989 1,366 181 24,075 2,593 1,558 2,649 752 3,450 5,270 7,069 8,000 26,527 30,698 119 38,056 (242) 1,057 (1,637) 9,167 (1,780) 9,784 9.882 (244) 3,245. 10,345 2,760 18,438 1,686 36,833 (416) 40,253 42,353 45,321 50,130 52,516 53,449 101,568 151,360 201,416 Share-based expense Impairment expense (11) 37,454 0 52,154 72,681 77,082 77,021 80,142 77,855 70,976 64,226 75,878 62,005 69,107 239,371 305,994 271,216 0 0 0 0 0 Transaction-related expense (13) 2,178 21,181 1,221 2,753 16,538 808 100 1000 0 1,243 0 247,174 0 0 0 248,417 1,872 0 176 (34) 0 27,333 19,318 142 Restructuring charges (12) 0 0 0 0 0 0 0 0 4,953 0 0 7,796 0 0 12,749 Fair value changes in warrant liabilities (14) 89,920 70,989 (64,405) 10,824 0 0 0 0 0 0 0 0 Servicing rights - changes in FMV (7) 12,109 224 (409) (9,273) (11,580) (9,098) (6,182) (12,791) (12,084) (8,601) (7,420) (6,595) Residual interests classified as debt - changes in FMV (a) 7,951 5,717 5,593 3,541 2,963 2,662 1,453 (6) Gain on Extinguishment of Corporate Debt (19) Foreign Currency Impact of Highly Inflationary Countries (20) Adjusted EBITDA 0 0 0 0 0 0 (470) 0 89 (602) 928 0 0 0 10 (14,574) 107,328 2,651 22,802 0 0 (39,651) (34,700) 6,608 425 0 0 (14,574) 0 0 0 $4,132 $11,240 $10,256 0 $4,593 0 $8,684 0 0 0 0 0 10,971 0 0 10,971 $20,304 $44,298 $70,060 $75,689 $76,819 $98,025 $181,204 $30,221 $143,346 $431,737 Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 20#21Net Interest Margin Components Average Balances FY 2022 FY 2023 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 SoFi 8 Total interest-earning assets Interest-bearing deposits $8,666,475 $9,374,928 $10,723,022 $14,103,767 $17,239,960 $20,357,082 $22,856,717 $25,698,397 Debt Total interest-bearing liabilities 442,901 1,828,318 3,790,272 5,912,048 4,903,418 4,284,366 3,658,266 4,953,403 $5,428,981 $6,174,072 $7,497,432 $10,902,089 8,592,140 5,425,245 $14,033,686 11,072,832 14,015,675 5,755,893 5,591,691 $16,841,740 $19,618,110 16,937,363 5,454,830 $22,401,385 Interest Income/Expense Total interest-earning assets $117,919 $149,284 $197,151 $308,170 $371,450 $469,996 $564,270 $645,237 Interest-bearing deposits 431 Debt 21,027 Total interest-bearing liabilities $22,986 4,543 21,012 $26,592 14,149 25,019 $40,072 40,670 57,784 $98,708 73,116 62,183 $135,440 106,529 72,341 $178,870 145,563 73,744 $219,307 182,612 72,984 $255,596 Average Rate Total interest-earning assets 5.44% 6.37% 7.35% 8.74% 8.62% 9.26% 9.79% 9.96% Interest-bearing deposits 0.39% 0.99% 1.49% 2.75% 3.40% 3.86% 4.12% 4.28% Debt 1.72% 1.96% 2.74% 4.67% 4.58% 5.04% 5.23% 5.31% Total interest-bearing liabilities 1.69% 1.72% 2.14% 3.62% 3.86% 4.26% 4.44% 4.53% NIM 4.38% 5.23% 5.86% 5.94% 5.48% 5.74% 5.99% 6.02% Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 21#22Fair Value of Loans SoFi FY 2021 FY 2022 FY 2023 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Unpaid principal $1,536,702 Accumulated interest 9,371 Cumulative FV adjustments 27,835 Fair value of loans on balance sheet $1,573,908 $1,705,269 9,218 49,055 $1,763,542 $1,970,522 10,409 73,295 $2,054,226 $2,188,773 12,310 88,343 $2,289,426 $3,006,363 17,893 94,532 $3,118,788 $3,943,768 23,055 142,922 $4,109,745 $6,667,484 40,387 193,333 $6,901,204 $8,283,400 55,673 271,361 $8,610,434 $10,039,769 69,049 82,868 105,156 428,181 496,360 568,836 $10,536,999 $12,751,163 $14,850,996 $12,171,935 $14,177,004 $14,498,629 114,541 717,403 $15,330,573 Personal Loans Student Loans Unpaid principal $2,590,442 Accumulated interest Cumulative FV adjustments Fair value of loans on balance sheet 8,222 68,129 $2,666,793 $2,646,209 7,820 85,464 $2,739,493 $2,470,907 6,967 76,567 $2,554,441 $3,356,344 9,990. 84,503 $3,450,837 $3,683,512 9,740 44,187 $3,737,439 $3,657,693 9,601 47,081 $3,714,375 $3,888,642 11,463 24,943 $3,925,048 $4,794,517 19,433 63,227 $4,877,177 $5,086,953 20,787 132,319 $5,240,059 $5,262,975 21,164 99,782 $5,383,921 $5,929,047 $6,445,586 26,497 86,000 $6,041,544 34,357 245,541 $6,725,484 Home Loans Unpaid principal Accumulated interest Cumulative FV adjustments Fair value of loans on balance sheet $228,645 106 3,152 $231,903 $178,373 $181,581 123 3,817 $182,313 90 3,208 $184,879 $210,111 190 2,408 $212,709 $153,222 182 (6,746) $146,658 $142,118 159 (7,015) $135,262 $106,869 166 (9,231) $97,804 $77,705 151 (8,393) $69,463 $89,782 162 (8,897) $81,047 $87,928 150 (9,495) $78,583 $110,320 163 (9,187) $101,296 $67,406 92 (1,300) $66,198 Unpaid principal Accumulated interest $4,355,789 Cumulative FV adjustments Fair value of loans on balance sheet 17,699 99,116 $4,472,604 $4,529,851 17,161 138,336 $4,685,348 $4,623,010 17,466 153,070 $4,793,546 $5,755,228 22,490 175,254 $5,952,972 $6,843,097 27,815 131,973 $7,002,885 $7,743,579 32,815 182,988 $7,959,382 $10,662,995 52,016 209,045 $13,155,622 72,257 326,195 $15,216,504 89,998 551,603 $17,522,838 104,182 586,647 $20,216,371 131,816 645,649 $21,011,621 148,990 961,644 $10,924,056 $13,557,074 $15,858,105 $18,213,667 $20,993,836 $22,122,255 Total Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 22 22#23Adjusted Loss Per Share Reconciliation SoFi 8 Q4'23 FY 2023 Consolidated - GAAP Total Net Revenue Net Loss Net Loss Attributable to Stockholders - diluted (16) (18) (21) 615,404 $ 2,122,789 47,913 (300,742) 24,615 (341,167) (16) (18) (21) Gain/Loss per Share Attributable to Stockholders - diluted $ 0.02 $ (0.36) Consolidated - Non-GAAP Adjusted Net Revenue $ 2,073,940 Net Loss, excluding impact of goodwill impairment (53,568) Net Loss Attributable to Stockholders, excluding impact of goodwill impairment - basic and diluted (16) (18 (21) (93,993) Gain/Loss per Share Attributable to Stockholders, excluding impact of goodwill impairment - basic and diluted (16) (18 (21) (0.10) Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 23 23#24Select Balance Sheet Information SoFi 8 Assets $ in thousands Cash & cash equivalents Restricted cash & cash equivalents Investments Securities Q4 23 $3,085,020 530,558 701,935 Personal loan warehouse facilities Liabilities, Temporary Equity and Permanent Equity Revolving credit facility Q4 23 $486,000 1,077,444 Student loan warehouse facilities 2,095,046 Risk retention warehouse facilities 67,038 Loans held for sale, at fair value Student loan securitizations 182,744 Personal loans $15,330,573 Personal loan securitizations 239,340 Home loans 66,198 Convertible Senior Notes 1,111,972 Loans held for investment, at fair value Student loans 6,725,484 Less: unamortized debt issuance costs and discounts Total Debt (26,168) $5,233,416 Loans held for investment Senior secured notes Credit card loans $446,463 272,628 Deposits $18,620,663 Commercial and consumer banking loans 117,068 Residual interests classified as debt 7,396 Total Loans $22,958,414 Accounts payable, accruals & other liabilities 549,748 Operating lease liabilities 108,649 Servicing rights Property, equipment and software Goodwill Intangible assets Operating lease right-of-use assets $180,469 Total Liabilities $24,519,872 216,908 1,393,505 364,048 Temporary Equity 89,635 Permanent Equity 320,374 5,234,612 Other assets Total Assets 554,366 $30,074,858 Total Liabilities, Temporary Equity & Permanent Equity $30,074,858 Note: The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi MoneyⓇ is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 24#25Footnotes to Financial Statements#26| Footnotes SoFi 8 (1) We define a member as someone who has a lending relationship with us through origination and/or ongoing servicing, opened a financial services account, linked an external account to our platform, or signed up for our credit score monitoring service. Our members have continuous access to our certified financial planners, our career advice services, our member events, our content, educational material, news, and our tools and calculators, which are provided at no cost to the member. Once someone becomes a member, they are always considered a member unless they violate our terms of service. We adjust our total number of members in the event a member is removed in accordance with our terms of service. This could occur for a variety of reasons-including fraud or pursuant to certain legal processes-and, as our terms of service evolve together with our business practices, product offerings and applicable regulations, our grounds for removing members from our total member count could change. The determination that a member should be removed in accordance with our terms of service is subject to an evaluation process, following the completion, and based on the results, of which, relevant members and their associated products are removed from our total member count in the period in which such evaluation process concludes. However, depending on the length of the evaluation process, that removal may not take place in the same period in which the member was added to our member count or the same period in which the circumstances leading to their removal occurred. For this reason, our total member count may not yet reflect adjustments that may be made once ongoing evaluation processes, if any, conclude. (2) Total products refers to the aggregate number of lending and financial services products that our members have selected on our platform since our inception through the reporting date, whether or not the members are still registered for such products. In our Lending segment, total products refers to the number of personal loans, student loans and home loans that have been originated through our platform through the reporting date, whether or not such loans have been paid off. If a member has multiple loan products of the same loan product type, such as two personal loans, that is counted as a single product. However, if a member has multiple loan products across loan product types, such as one personal loan and one home loan, that is counted as two products. In our Financial Services segment, total products refers to the number of SoFi Money accounts (inclusive of checking and savings accounts held at SoFi Bank and cash management accounts), SoFi Invest accounts, SoFi Credit Card accounts (including accounts with a zero dollar balance at the reporting date), referred loans (which are originated by a third-party partner to which we provide pre-qualified borrower referrals), SoFi At Work accounts and SoFi Relay accounts (with either credit score monitoring enabled or external linked accounts) that have been opened through our platform through the reporting date. Checking and savings accounts are considered one account within our total products metric. Our SoFi Invest service is composed of three products: active investing accounts, robo-advisory accounts and digital assets accounts. Our members can select any one or combination of the three types of SoFi Invest products. We began to wind-down our crypto-related activities in November 2023, whereby members could no longer create new digital assets accounts and we began closing existing digital assets accounts. This process is expected to be completed in the first quarter of 2024. If a member has multiple SoFi Invest products of the same account type, such as two active investing accounts, that is counted as a single product. However, if a member has multiple SoFi Invest products across account types, such as one active investing account and one robo-advisory account, those separate account types are considered separate products. In the event a member is removed in accordance with our terms of service, as discussed in footnote (1) above, the member's associated products are also removed. (3) In our Technology Platform segment, total accounts refers to the number of open accounts at Galileo as of the reporting date. Beginning in the fourth quarter of 2021, we include intercompany accounts in our total accounts metric to better align with the Technology Platform segment revenue reported in our segment information, which includes intercompany revenue. The equal and offsetting intercompany expenses are reflected within all three segments' directly attributable expenses, as well as within expenses not allocated to segments. The intercompany revenues and expenses are eliminated in consolidation. We reflected the full year 2021 impact within the fourth quarter, as inter-quarter amounts were determined to be immaterial. (4) Adjusted net revenue is a non-GAAP measure. Adjusted net revenue is defined as total net revenue, adjusted to exclude the fair value changes in servicing rights and residual interests classified as debt due to valuation inputs and assumptions changes, which relate only to our Lending segment, as well as gains and losses on extinguishment of debt. (5) The measure of contribution profit (loss) is the primary measure of segment profit and loss reviewed by SoFi in accordance with GAAP and is, therefore, only measured and presented herein for total reportable segments. SoFi does not evaluate contribution profit (loss) at the consolidated level. Contribution profit (loss) is defined as total net revenue for each reportable segment less fair value changes in servicing rights and residual interests classified as debt that are attributable to assumption changes, which impact the contribution profit within the Lending segment, and expenses directly attributable to the corresponding reportable segment. 6) Adjusted EBITDA is a non-GAAP measure. Adjusted EBITDA is defined as net income (loss), adjusted to exclude, as applicable: (i) corporate borrowing-based interest expense (our adjusted EBITDA measure is not adjusted for warehouse or securitization-based interest expense, nor deposit interest expense and finance lease liability interest expense, as these are not direct operating expenses), (ii) income tax expense (benefit), (iii) depreciation and amortization, (iv) share-based expense (inclusive of equity-based payments to non-employees), (v) impairment expense (inclusive of goodwill impairment and property, equipment and software abandonments), (vi) transaction-related expenses, (vii) foreign currency impacts related to operations in highly inflationary countries, (viii) fair value changes in warrant liabilities, (ix) fair value changes in each of servicing rights and residual interests classified as debt due to valuation assumptions, and (x) other charges, as appropriate, that are not expected to recur and are not indicative of our core operating performance. (7) Reflects changes in fair value inputs and assumptions, including market servicing costs, conditional prepayment, default rates and discount rates. These non-cash charges are unrealized during the period and, therefore, have no impact on our cash flows from operations. As such, these positive and negative changes are adjusted out of net revenue and net income (loss) to provide management and financial users with better visibility into the earnings available to finance our operations and our overall performance. (8) Reflects changes in fair value inputs and assumptions, including conditional prepayment, default rates and discount rates. When third parties finance our consolidated securitization variable interest entities through purchasing residual interests, we receive proceeds at the time of the closing of the securitization and, thereafter, pass along contractual cash flows to the residual interest owner. These residual debt obligations are measured at fair value on a recurring basis, but they have no impact on our initial financing proceeds, our future obligations to the residual interest owner (because future residual interest claims are limited to contractual securitization collateral cash flows), or the general operations of our business. As such, these positive and negative non-cash changes in fair value attributable to assumption changes are adjusted out of net revenue and net income (loss) to provide management and financial users with better visibility into the earnings available to finance our operations © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. SoFi Bank, N.A., NMLS #696891. 26#27| Footnotes SoFi 8 (9) Our adjusted EBITDA measure adjusts for corporate borrowing-based interest expense, as these expenses are a function of our capital structure. Corporate borrowing-based interest expense primarily includes (i) interest on our revolving credit facility, (ii) amortization of debt discount and debt issuance costs on our convertible notes, and (iii) for 2021, interest on the seller note issued in connection with our acquisition of Galileo. (10) In our determination of the contribution profit (loss) for our Lending, Technology Platform and Financial Services segments, we allocate certain expenses that are directly attributable to the corresponding segment. Directly attributable expenses primarily include compensation and benefits and sales and marketing, and vary based on the amount of activity within each segment. Directly attributable expenses also include loan origination and servicing expenses, professional services, product fulfillment, lead generation and occupancy-related costs. Expenses are attributed to the reportable segments using either direct costs of the segment or labor costs that can be attributed based upon the allocation of employee time for individual products. (11) Impairment expense includes $247,174 related to goodwill impairment in the third quarter of 2023, and $1,243 related to a sublease arrangement in the first quarter of 2023, which are not indicative of our core operating performance. (12) Restructuring charges in 2023 primarily included employee-related wages, benefits and severance associated with a small reduction in headcount in our Technology Platform segment in the first quarter of 2023 and expenses in the fourth quarter of 2023 related to a reduction in headcount across the Company, which do not reflect expected future operating expenses and are not indicative of our core operating performance. (13) Transaction-related expenses in 2023 and 2022 primarily included financial advisory and professional services costs associated with our acquisition of Wyndham and Technisys, respectively. Transaction-related expenses in 2021 included the special payment to the holders of Series 1 Redeemable Preferred Stock in conjunction with the Business Combination (merger with Social Capital Hedosophia Holdings Corp. V) and financial advisory and professional costs associated with our then-pending acquisitions of Golden Pacific and Technisys. (14) Our adjusted EBITDA measure excludes the non-cash fair value changes in warrants accounted for as liabilities, which were measured at fair value through earnings. The amounts in 2021 related to changes in the fair value of Series H warrants issued by Social Finance in connection with certain redeemable preferred stock issuances. We did not measure the Series H warrants at fair value subsequent to May 28, 2021 in conjunction with the Business Combination, as they were reclassified into permanent equity. In addition, in conjunction with the Business Combination, SoFi Technologies assumed certain common stock warrants ("SoFi Technologies warrants") that were accounted for as liabilities and measured at fair value on a recurring basis. The fair value of the SoFi Technologies warrants was based on the closing price of ticker SOFIW and, therefore, fluctuated based on market activity. The outstanding SoFi Technologies warrants were either exercised during the fourth quarter of 2021 or redeemed on December 6, 2021. (15) In 2023, Technology Platform total accounts reflect the previously disclosed migration by one of our clients of the majority of its processing volumes to a pure processor. These accounts remained open for administrative purposes through the end of 2022, and were included in our total accounts in that period. (16) Adjusted for the contractual amount of dividends payable to holders of Series 1 redeemable preferred stock, which are participating interests. (17) Excludes the impact of goodwill impairment losses of $247.2 million during the third quarter of 2023. Earnings (loss) per share attributable to common stockholders, excluding impact of goodwill impairment is defined as net income (loss) attributable to common stockholders, adjusted to exclude goodwill impairment losses, divided by the weighted average common stock outstanding for the respective periods. The goodwill impairment adjustment had no impact on weighted average common stock outstanding, or income tax impacts. (18) Diluted earnings (loss) per share of common stock is computed by dividing net income, adjusted for the impact of Series 1 Redeemable Preferred Stock dividends, by the weighted average number of shares of common stock outstanding during the period plus amounts representing the dilutive effect of contingently issuable shares including PSU awards which require future service as a condition of delivery of the underlying common stock, RSUs, outstanding options, outstanding warrants and dilution resulting from the conversion of convertible notes, if applicable. The adjustment for convertible notes reflects the conversion price at the end of the reporting period. We excluded the effect of all potentially dilutive common stock elements from the denominator in the computation of diluted earnings (loss) per share in the periods where their inclusion would have been anti-dilutive. (19) Reflects gain on extinguishment of debt. Gains and losses are recognized during the period of extinguishment for the difference between the net carrying amount of debt extinguished and the fair value of equity securities issued. These non-cash charges are not indicative of our core operating performance, and as such are adjusted out of total net revenue to provide management and financial users with better visibility into the net revenue available to finance our operations and our overall performance. (20) Foreign currency charges reflect the impacts of highly inflationary accounting for our operations in Argentina, which are related to our Technology Platform segment and commenced in the first quarter of 2022 with the Technisys Merger. For the year ended December 31, 2023, all amounts were reflected in the fourth quarter, as inter-quarter amounts were determined to be immaterial. Amounts in 2022 were determined to be immaterial. (21) For the three months ended December 31, 2023, diluted earnings per share of $0.02 and diluted net income attributable to common stockholders of $24,615 excludes gain on extinguishment of debt and interest expense incurred, net of tax, associated with convertible note activity during the period. © 2023 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi MoneyⓇ is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS #1121636. SoFi Bank, N.A., NMLS #696891. 27