#1LendingClub First Quarter 2022 Results April 27, 2022#21Q 2022 Results & Financial Metrics LendingClub#3Disclaimer Some of the statements below, including statements regarding our competitive advantages, macroeconomic outlook, anticipated future performance and financial results, are "forward-looking statements." The words "anticipate," "believe," "estimate," "expect," "intend," "may," "outlook," "plan," "predict," "project," "will," "would" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to continue to attract and retain new and existing customers; competition; overall economic conditions; the regulatory environment; demand for the types of loans facilitated by us; default rates and those factors set forth in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, as well as in our subsequent filings with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. LendingClub 3#4The Problem We're Solving $1T Many American households have turned to credit cards to manage their finances, which has resulted in ~40% of American households carrying over $1 trillion of revolving debt.1 Much of this debt is overpriced and LendingClub exists to provide Americans with a better way to access affordable credit. LendingClub's 4+ million members have already come to us to access lower-cost credit. While we serve a broad range of members, our average income is $100K with a high FICO (+700 avg.), but they also have high debt.2 And 83% tell us they want to do more with us! LendingClub 1) Credit Card Market Monitor, November 2021, American Bankers Association. 2) LendingClub internal data. Our direct-to-consumer digital marketplace bank features a vertically integrated model that allows us to reimagine banking, including lending, spending, and savings for our members. 4#5Award-Winning Member-Focused Digital Marketplace Bank Members1 4+ Million Originations1 $70+ Billion Vision Become America's Financial Health Club. Mission Empower Our Members on Their Path to Financial Health. Promise To champion the financial success of our members with fairness, simplicity, and heart. the ascent A MOTLEY FOOL SERVICE -BEST- AMERICA'S BEST BANKS 2022 N nerdwallet Best-Of Awards BANKS Newsweek 2022 Best Checking Account Overall 2021 Best Bank or Credit Union Online Experience GO BankingRates TOP 100 BANKS 2022 TOP c❘net Bloomberg Gender-Equality WORK PLACES Index 2022 2021 Best Overall Checking Account, April 2021 LendingClub 1) Total members and originations based on lifetime volume across all consumer loan products as of March 31, 2022 Great Place To WorkⓇ Certified MAR 2022-MAR 2023 USA 5 5#61Q22 Highlights: Exceeded All Targets 1Q22 Guidance Targets Actuals Net Revenue $255M to $265M $289.5M Commentary Net Revenue up 10% QoQ and 174% YoY driven by: ☐ Marketplace revenue driven by origination growth of 5% and strong loan investor demand QoQ Net interest income accelerated by growing the average bank loan portfolio 7% QoQ and 65% YoY GAAP Net $25M to $30M $40.8M Record GAAP Net Income, up 40% QoQ, and $87.9M YoY driven by revenue growth Income and strong operating leverage through expense management LendingClub 6#71Q22 Highlights: Transformative Financial Profile Emerging NET REVENUE 174% Net Revenue up 174% YoY to $289.5M, up 10% over last quarter's record GAAP NET INCOME NET INTEREST INCOME $41M Record GAAP Net Income, up 40% QoQ, and +$87.9M YOY $100M Net Interest Income 439% YoY growth NET INTEREST MARGIN 8.6% Net Interest Margin expansion to 8.6% from 3.3% a year ago DEPOSITS ↑68% Deposit growth up 68% from a year ago to $4.0B BANK LOAN PORTFOLIO ↑ 65% Average loan portfolio growing 65% year-over-year to $3.1B LendingClub 7#8Best of Both Worlds Positioned well against both the fintech and bank competitive sets LendingClub' Fintechs Banks Ability to efficiently serve a broad range of customers ✓ Industry leading marketing efficiency; 4M+ customers X Capital-light, high-ROE marketplace earnings stream ✓ $190M Non-Interest Income ✓ X Economics Highly profitable earnings via loan portfolio ✓ $100M Net Interest Income X ✓ Lower-cost deposit funding ✓ 0.42% average cost of funds X Fully integrated originations and deposit model ☑✓ $3.2B originations; $4B deposits X National digital-first consumer footprint ✓ Multi-award-winning digital experience ✓ X Scale Vast data advantage from serving millions of personal loan customers ✓ 150B+ cells of data; 2K+ attributes & Scalability Unencumbered by high-cost branch network and legacy systems ✓ Tech-first highly automated marketplace platform ✓ ✗ Strong growth trajectory ✓ 174% net revenue growth rate YoY ✓ X Recurring revenue stream ✓ 41% recurring revenue (NII + Servicing Fees) X ✓ Resiliency Stability of funding ✓ Low-cost deposits and diverse investor funding Clear and consistent regulatory framework ✓ Strong control & compliance infrastructure ✗ LendingClub 1) Data as of March 31, 2022 8#9New Vertically Integrated Marketplace Bank Model Drives Superior Performance vs. Pure Marketplace Model Prior Record New Marketplace Net Income (4Q19) Bank Model (1Q22) Variance (4Q19 to 1Q22) Originations $3.1B $3.2B +$0.1B Net Interest Income $25.5M $99.7M +$74.2M Similar Non-Interest $162.9M $189.9M +$27M Income originations driving Net Revenue $188.5M $289.5M +$101 M superior economics GAAP $0.2M $40.8M +$40.6M Net Income LendingClub 1) Note: There may be differences between the sum of the quarterly results due to rounding. 9#10Net Income Growth Driven by Strong Revenue Growth and Operating Leverage Pre-Tax, Pre-Provision Income ($ in millions) Acquisition Closed 2/1/21 New Model GAAP Net Income (Loss) ($ in millions) ($28.4) 1Q21 $98.3 $74.0 $67.4 $44.2 2Q21 Acquisition Closed 2/1/21 New Model $40.8 $27.2 $29.1 $9.4 ($47.1) 3Q21 4Q21 1Q22 Pre-Tax, Pre-Provision Income (% QoQ) 1Q21 2Q21 3Q21 4Q21 1Q22 N/M N/M 52% 10% 33% GAAP Net Income (%QoQ) Provision for Credit Losses N/M N/M 190% 7% 40% 21.5 34.6 37.5 45.1 52.5 Diluted EPS Income Tax Benefit (Expense) ($0.49) $0.09 $0.26 $0.27 $0.39 2.8 (0.2) (2.7) 0.2 (5.0) LendingClub N/M - Not meaningful 10#11Topline Growth Driven by Recurring Net Interest Income Stream Combined With Strong Marketplace Revenue Total Non-Interest Income Net Revenue¹ ($ in millions) ■Net Interest Income $289.5 $262.2 $246.2 $99.7 $204.4 $83.1 $65.3 $45.9 $105.8 $18.5 $180.9 $179.1 $189.9 $158.5 $87.3 1Q21 2Q21 3Q21 4Q21 1Q22 Total Net Revenue QoQ 40% 93% 20% 7% 10% Net Interest Income 538% 148% 42% 27% 20% QoQ Non-Interest Income 20% 81% 14% (1%) 6% QoQ LendingClub 1) Note: There may be differences between the sum of the quarterly results due to rounding. Net Interest Income 439% YoY growth reflects average loan growth of 65% and NIM expansion to 8.6% Non-Interest Income Marketplace revenue reflects YoY marketplace origination growth of $1.2B and stronger loan investor demand 11#12Loan Originations Driving Higher Revenues Marketplace Revenue Reflects Higher Marketplace Originations and Strong Loan Investor Demand Quarterly Loan Originations 1,2 ($ in millions) Quarterly Marketplace Revenue ($ in millions) Retained Loans Marketplace Originations $3,217 $3,107 $3,069 $2,722 Marketplace Originations Drive Marketplace $2,360 $2,471 $2,308 Revenue $1,483 $2,182 $1,139 $541 $636 $761 $856 $344 1Q21 2Q21 3Q21 4Q21 1Q22 Loan Origination Growth (% QoQ) 63% 84% 14% (1%) 5% Held for Investment % of Originations 23% 20% 20% 25% 27% 1) Note: There may be differences between the sum of the quarterly results due to rounding. LendingClub 2) Quarterly Loan Originations include Personal Loans, Education and Patient Finance Loans, and Auto Loans. $174.6 $180.0 $170.6 $151.7 $81.7 1Q21 2Q21 Marketplace Revenue Growth (% QoQ) 18% 86% 3Q21 4Q21 1Q22 15% (2%) 6% 12#13Interest Income from HFI Portfolio Grew 19% QoQ as Consumer Loan Portfolio Momentum Builds Bank Average Held for Investment Balances¹ ($ in millions) Bank Interest Income from Held for Investment Loans² ($ in millions) ■Consumer Loans $91.4 ■Commercial/PPP Loans 3 $3,136 $2,923 $77.0 $10.8 $2,509 $843 $12.6 $2,284 $945 $57.6 $1,895 HFI Portfolio $1,054 $1,240 Drives Interest Income $13.4 $39.1 $80.7 $1,227 $2,293 $14.4 $64.4 $1,979 $15.3 $44.2 $1,455 $1,044 $8.7 $24.7 $668 $6.6 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 Bank HFI Balances (% QoQ) Consumer Loans Bank HFI Interest Income (% QOQ) 56% 39% 36% 16% Consumer Loans 273% 79% 46% 25% Commercial/PPP Loans HFI Total 1% (15%) (10%) (11%) Commercial/PPP Loans 66% (7%) (7%) (14%) 21% 10% 17% 7% HFI Total 155% 48% 34% 19% 1) LC Consumer Loans Held for Investment (including both unsecured and secured consumer loans) are net of deferred fees and amortization. Please see next page for additional detail. LendingClub 2) 1Q21 interest income includes 2 months of Radius Bank financials after the 02/01/2021 acquisition. 3) Commercial/PPP Loans includes PPP average balances that have declined from $621M in 1Q21 to $223M in 1Q22. 13#14Growing Consumer Loan Portfolio Mix Drives Net Interest Margin Expansion to 8.61% Key Bank Balance Sheet Data (Average balances; $ in millions) Average Balances Average Yield 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 Unsecured consumer loans $147 $512 $991 $1,542 $2,060 13.85% 15.24% 15.95% 15.66% 15.22% +20% Secured consumer loans $521 $532 $464 $436 +7% +17% +10% +14% $3,612 Commercial loans and leases $605 $624 $617 $620 $232 3.70% $621 5.07% 5.81% 3.89% 4.04% 3.69% 3.92% 5.11% 5.59% 4.89% PPP loans $621 $616 $437 $325 $223 3.45% 3.46% 5.07% 4.78% 5.76% $3,136 +7% $3,010 $2,923 HFI Loans $1,895 $2,284 $2,509 $2,923 $3,136 4.84% 6.84% 9.19% 10.53% 11.66% $2,643 $2,509 $2,476 $2,284 Other interest-earning assets² Total Interest-earning Assets $1,034 $862 $2,929 $3,145 $1,023 $973 $1,332 1.27% 2.91% 2.72% 2.61% 2.52% $3,533 $3,896 $4,468 3.58% 5.76% 7.32% 8.55% 8.94% Non-interest bearing deposits $156 $103 $114 $283 $300 Interest-bearing deposits Advances from PPPLF/Other $2,059 $2,373 $411 $315 $417 HFI Loans Deposits Total Interest-bearing Liabilities $2,470 $2,688 $2,946 $2,529 $2,727 $3,312 0.30% 0.29% 0.30% 0.38% 0.42% $342 $235 0.35% 0.35% 0.36% 0.36% $3,069 $3,546 0.31% 0.29% 0.31% 0.38% 0.42% 0.35% ■2Q21 3Q21 4Q21 1Q22 Interest Rate Spread 3.27% 5.47% 7.01% 8.17% 8.52% Net Interest Margin 3.33% 5.51% 7.06% 8.25% 8.61% LendingClub 1) Consumer loans include unsecured and secured consumer loan products. 2) Other interest-eaming assets include HFS loans and AFS securities in addition to cash, cash equivalents, restricted cash and other. 14#15High Quality Prime Portfolio Driving Strong HFI Credit Performance1 Servicing Portfolio¹ 30+ Day Delinquencies HFI Portfolio³ 2.5% Avg. FICO 722 727 2.0% Avg. Income ($000)4 1.5% $112 $113 1.0% Avg. Debt- to-Income5 20% 19% 0.5% Avg. Coupon 13.1% 11.6% 0.0% HFI Portfolio³ Anticipated to converge with PL Prime over time PL Prime² Still below pre- pandemic but will normalize over time Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar 2019 2020 2021 2022 Personal Loan Credit Performance PL Prime originations focused on customers with average FICO 700+ and average income $100K+ Delinquency rates remain well below pre-pandemic levels, beginning to normalize in-line with expectations Held for Investment (HFI) portfolio delinquencies growing as portfolio grows and matures High yielding avg. coupon rates drive net interest income as HFI portfolio grows and consumer asset mix increases 1) Metrics reflect prime personal loans and are outstanding balance weighted as of 03/31/22 2) Metrics Include all Serviced Prime Personal Loans as of 03/31/22 LendingClub 3) HFI refers to loans held for investment at LendingClub Bank 4) Represents applicant income on the average issued loan, which could include a co-borrower 5) Debt-to-Income ratio includes all credit bureau debt obligations except housing 15#16Improving Operating Leverage While Continuing to Invest in Long-term Growth Efficiency Ratio (Non-interest Expense as a % of Net Revenue¹) ($ in millions) Total Non-interest Expense¹ ($ in millions) Efficiency Ratio 1Q21 2Q21 3Q21 4Q21 1Q22 127% Non-Interest Expense less Marketing Compensation & Benefits 64.4 71.9 73.3 78.7 81.6 108% Marketing % Revenue Marketing 19.5 35.1 50.8 50.7 55.1 Equipment & Software 7.9 9.3 10.3 12.0 11.0 78% 73% 72% 61% 66% Occupancy 6.9 6.2 6.5 4.7 6.0 52% 52% 47% Depreciation & Amortization 11.8 11.5 10.5 10.5 11.1 Professional Services 11.6 11.5 11.7 12.7 12.4 18% 17% 21% 19% 19% Other Non-interest Expense 12.1 14.6 15.6 18.9 14.0 1Q21 2Q21 3Q21 4Q21 1Q22 Total Non-Interest Expense 134.3 160.1 178.8 188.2 191.2 LendingClub 1) Note: There may be differences between the sum of the quarterly results due to rounding. 16#17Raising 2022 Full Year Outlook Year-over-year net revenue growth up 40% to 53% 2Q22 Guidance As of 04/27/22 As of 01/26/22 FY22 Guidance vs. Prior FY22 Guidance Commentary $295M to $305M $1.15B to $1.25B Net Revenue +$50M +44% to 49% YoY +40% to 53% YoY GAAP $40M to $45M $145M to $165M +$15M Net Income 4.2X to 4.8X YOY 7.8X to 8.9X YOY LendingClub Increasing origination target top end by $500M to $13.5B for FY22 17#18LendingClub