ONEMAIN HOLDINGS, INC. REPORTS FOURTH QUARTER 2024 RESULTS

4Q 2024 Diluted EPS of $1.05 4Q 2024 C&I adjusted diluted EPS of $1.16 4Q 2024 Managed receivables of $24.7 billion Declared quarterly dividend of $1.04 per share , /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, today reported pretax income of $164 million and net income of $126 million for the fourth quarter of 2024, compared to $220 million and $165 million, respectively, in the prior year quarter. Earnings per diluted share were $1.05 in the fourth quarter of 2024, compared to $1.38 in the prior year quarter. Net income was $509 million for the full year of 2024, compared to $641 million for the full year of 2023. Earnings per diluted share were $4.24 in the full year of 2024, compared to $5.32 in the prior year. On January 31, 2025, OneMain declared a quarterly dividend of $1.04 per share, payable on February 20, 2025, to record holders of the Company's common stock as of the close of business on February 12, 2025. During the quarter, the Company repurchased approximately 75 thousand shares of common stock for $3 million. "We finished the year with continued improvement in our credit trends, positioning us for improved profitability moving forward," said Doug Shulman, Chairman and CEO of OneMain. "We feel great about our momentum going into 2025, with positive trends in both originations and credit as we continue to focus on driving profitable growth and maximizing shareholder value." The following segment results are reported on a non-GAAP basis. Refer to the required reconciliations of non-GAAP to comparable GAAP measures at the end of this press release. Consumer and Insurance Segment ("C&I") C&I adjusted pretax income was $185 million and adjusted net income was $139 million for the fourth quarter of 2024, compared to $223 million and $167 million, respectively, in the prior year quarter. Adjusted earnings per diluted share were $1.16 for the fourth quarter of 2024, compared to $1.39 in the prior year quarter. C&I generated adjusted net income of $587 million for the full year of 2024, compared to $655 million in the prior year. Adjusted earnings per diluted share were $4.89 for the full year of 2024, compared to $5.43 in the prior year. Management runs the business based on C&I capital generation, which it defines as C&I adjusted net income excluding the after-tax change in C&I allowance for finance receivable losses while still considering the current period C&I net charge-offs. C&I capital generation was $183 million for the fourth quarter 2024, compared to $191 million in the prior year quarter. The decline was primarily driven by higher net charge-offs, partially offset by increased revenue from portfolio growth in the current quarter compared to the prior year period. Managed receivables, which includes loans serviced for our whole loan sale partners and auto finance loans originated by third parties, were $24.7 billion at December 31, 2024, up 11% from $22.2 billion at December 31, 2023. Consumer loan originations totaled $3.5 billion in the fourth quarter of 2024, up 16% from $3.0 billion in the prior year quarter. Total revenue, comprising interest income and total other revenue, was $1.5 billion in the fourth quarter of 2024, up 9% from $1.4 billion in the prior year quarter. Interest income in the fourth quarter of 2024 was $1.3 billion, up 11% from $1.2 billion in the prior year quarter. This growth was driven by higher average net finance receivables. Interest expense was $310 million in the fourth quarter of 2024, up 15% from $271 million in the prior year quarter, due to an increase in average debt to support our receivables growth and a higher average cost of funds. The provision for finance receivable losses was $523 million in the fourth quarter of 2024, up $77 million compared to the prior year period. During the fourth quarter of 2024, the allowance for finance receivable losses increased $59 million driven by growth in receivables. C&I Select Delinquency and Loss Ratios December 31, 2024 September 30, 2024 December 31, 2023 Consumer loans: 30+ days delinquency ratio 5.76 % 5.63 % 6.16 % 90+ days delinquency ratio 2.52 % 2.49 % 2.88 % 30-89 days delinquency ratio 3.24 % 3.14 % 3.28 % Net charge-offs 7.63 % 7.33 % 7.70 % Operating expense for the fourth quarter of 2024 was $422 million, up 10% from $382 million in the prior year quarter reflecting receivable growth, including the Foursight acquisition, and continued investment in the business, with a focus on data science, technology, and digital capabilities. Funding and Liquidity As of December 31, 2024, the Company had principal debt balances outstanding of $21.7 billion, 57% of which was secured. The Company had $458 million of cash and cash equivalents, which included $123 million of cash and cash equivalents held at regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes. Cash and cash equivalents, together with the Company's $1.1 billion of undrawn committed capacity from an unsecured corporate revolver, $6.3 billion of undrawn committed capacity under revolving conduit facilities and credit card variable funding note facilities, and $9.7 billion of unencumbered receivables, provides significant liquidity resources. Conference Call & Webcast Information OneMain management will host a conference call and webcast to discuss the Company's results, outlook, and related matters at 9:00 am Eastern Time on Friday, January 31, 2025. Both the call and webcast are open to the general public. The general public is invited to listen to the call by dialing 800-451-7724 (U.S. domestic) or 785-424-1116 (international), and using conference ID 60408, or via a live audio webcast through the Investor Relations section of the OneMain Financial website at http://investor.onemainfinancial.com. For those unable to listen to the live broadcast, a replay will be available on our website after the event. An investor presentation will be available on the Investor Relations page of the OneMain Financial website prior to the start of the conference call. About OneMain Holdings, Inc. OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 47 states, available online and in 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com. Use of Non-GAAP Financial Measures We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes restructuring charges, net loss resulting from repurchases and repayments of debt, acquisition-related transaction and integration expenses, regulatory settlements, and other items and strategic activities. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment. We also use Consumer and Insurance pretax capital generation and Consumer and Insurance capital generation, non-GAAP financial measures, as a key performance measure of our segment. Consumer and Insurance pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Consumer and Insurance capital generation represents the after-tax effect of Consumer and Insurance pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company's reserves, combined with its equity, represent the Company's loss absorption capacity. We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH's executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP. This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the Company's other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov). Cautionary Note Regarding Forward-Looking Statements This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "anticipates," "appears," "assumes," "believes," "can," "continues," "could," "estimates," "expects," "forecasts," "foresees," "goal," "intends," "likely," "objective," "plans," "projects," "target," "trend," "remains," and similar expressions or future or conditional verbs such as "could," "may," "might," "should," "will" or "would" are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements are not statements of historical fact but instead represent only management's current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions outside the U.S.; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the "Risk Factors" and "Management's Discussion and Analysis" sections of the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC from time to time. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us. Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law. OneMain Holdings, Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Quarter Ended Fiscal Year (unaudited, $ in millions, except per share amounts) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 2024 2023 Interest income $ 1,320 $ 1,282 $ 1,219 $ 1,173 $ 1,187 $ 4,993 $ 4,564 Interest expense (311) (301) (297) (277) (270) (1,185) (1,019) Net interest income 1,009 981 922 896 917 3,808 3,545 Provision for finance receivable losses (523) (512) (575) (431) (446) (2,040) (1,721) Net interest income after provision for finance receivable losses 486 469 347 465 471 1,768 1,824 Insurance 111 111 111 112 113 445 448 Investment 21 24 30 32 32 108 116 Gain on sales of finance receivables 5 6 6 6 10 23 52 Net loss on repurchases and repayments of debt (19) (1) (12) (2) (1) (34) — Other 42 42 39 32 32 153 119 Total other revenues 160 182 174 180 186 695 735 Operating expenses (433) (401) (382) (391) (388) (1,607) (1,530) Insurance policy benefits and claims (49) (43) (47) (50) (49) (189) (189) Total other expenses (482) (444) (429) (441) (437) (1,796) (1,719) Income before income taxes 164 207 92 204 220 667 840 Income taxes (38) (50) (21) (49) (55) (158) (199) Net income $ 126 $ 157 $ 71 $ 155 $ 165 $ 509 $ 641 Weighted average number of diluted shares 119.9 120.1 120.2 120.2 120.1 120.1 120.6 Diluted EPS $ 1.05 $ 1.31 $ 0.59 $ 1.29 $ 1.38 $ 4.24 $ 5.32 Book value per basic share $ 26.74 $ 26.87 $ 26.33 $ 26.81 $ 26.60 $ 26.74 $ 26.60 Return on assets 1.9 % 2.5 % 1.1 % 2.6 % 2.7 % 2.0 % 2.7 % Change in allowance for finance receivable losses $ (60) $ (81) $ (79) $ 26 $ (31) $ (194) $ (185) Net charge-offs (463) (431) (496) (457) (415) (1,846) (1,536) Provision for finance receivable losses $ (523) $ (512) $ (575) $ (431) $ (446) $ (2,040) $ (1,721) Note: Quarters may not sum to fiscal year due to rounding. OneMain Holdings, Inc. CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of (unaudited, $ in millions) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 Assets Cash and cash equivalents $ 458 $ 577 $ 667 $ 831 $ 1,014 Investment securities 1,607 1,581 1,681 1,691 1,719 Net finance receivables 23,554 23,075 22,365 21,083 21,349 Unearned insurance premium and claim reserves (766) (765) (753) (749) (771) Allowance for finance receivable losses (2,705) (2,645) (2,564) (2,454) (2,480) Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses 20,083 19,665 19,048 17,880 18,098 Restricted cash and restricted cash equivalents 684 693 630 599 534 Goodwill 1,474 1,474 1,474 1,437 1,437 Other intangible assets 286 288 289 259 260 Other assets 1,318 1,300 1,296 1,211 1,232 Total assets $ 25,910 $ 25,578 $ 25,085 $ 23,908 $ 24,294 Liabilities and Shareholders' Equity Long-term debt $ 21,438 $ 21,137 $ 20,671 $ 19,520 $ 19,813 Insurance claims and policyholder liabilities 575 597 594 597 615 Deferred and accrued taxes 20 29 10 34 9 Other liabilities 686 607 657 543 671 Total liabilities 22,719 22,370 21,932 20,694 21,108 Common stock 1 1 1 1 1 Additional paid-in capital 1,734 1,728 1,723 1,718 1,715 Accumulated other comprehensive loss (81) (59) (95) (91) (87) Retained earnings 2,296 2,295 2,263 2,318 2,285 Treasury stock (759) (757) (739) (732) (728) Total shareholders' equity 3,191 3,208 3,153 3,214 3,186 Total liabilities and shareholders' equity $ 25,910 $ 25,578 $ 25,085 $ 23,908 $ 24,294 OneMain Holdings, Inc. CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED) As of (unaudited, $ in millions) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 Liquidity Cash and cash equivalents $ 458 $ 577 $ 667 $ 831 $ 1,014 Cash and cash equivalents unavailable for general corporate purposes 123 266 211 165 148 Unencumbered receivables 9,738 9,017 8,060 8,306 8,427 Undrawn conduit facilities 5,999 6,749 6,399 6,399 6,399 Undrawn corporate revolver 1,125 1,125 1,325 1,325 1,325 Undrawn credit card revolving variable funding note facilities 300 300 300 300 — Drawn conduit facilities 1 176 1 1 1 Net adjusted debt $ 20,931 $ 20,653 $ 20,043 $ 18,682 $ 18,775 Total Shareholders' equity $ 3,191 $ 3,208 $ 3,153 $ 3,214 $ 3,186 Accumulated other comprehensive loss 81 59 95 91 87 Goodwill (1,474) (1,474) (1,474) (1,437) (1,437) Other intangible assets (286) (288) (289) (259) (260) Junior subordinated debt 172 172 172 172 172 Adjusted tangible common equity(1) 1,684 1,677 1,657 1,781 1,748 Allowance for finance receivable losses, net of tax (2) 2,029 1,984 1,923 1,840 1,860 Adjusted capital $ 3,713 $ 3,661 $ 3,580 $ 3,621 $ 3,608 Net leverage (net adjusted debt to adjusted capital) 5.6x 5.6x 5.6x 5.2x 5.2x (1) The adjusted tangible common equity calculation excludes accumulated other comprehensive loss, with all prior periods updated to reflect this change. (2) Income taxes assume a 25% tax rate. OneMain Holdings, Inc. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED) Quarter Ended Fiscal Year (unaudited, $ in millions) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 2024 2023 Consumer & Insurance $ 159 $ 200 $ 145 $ 203 $ 220 $ 707 $ 845 Other (1) — — — (1) (1) (6) Segment to GAAP adjustment 6 7 (53) 1 1 (39) 1 Income before income taxes - GAAP basis $ 164 $ 207 $ 92 $ 204 $ 220 $ 667 $ 840 Consumer & Insurance pretax income $ 159 $ 200 $ 145 $ 203 $ 220 $ 707 $ 845 Net loss on repurchases and repayments of debt 19 — 12 2 — 33 — Restructuring charges 1 1 — 27 — 29 — Acquisition-related transaction and integration expenses 5 1 2 1 — 9 — Regulatory settlements — — — — 2 — 26 Other (1) 1 — 4 — 1 4 3 Consumer & Insurance adjusted pretax income (non-GAAP) $ 185 $ 202 $ 163 $ 233 $ 223 $ 782 $ 874 Reconciling items (2) $ (20) $ 5 $ (71) $ (29) $ (2) $ (114) $ (28) Consumer & Insurance $ 23,598 $ 23,128 $ 22,428 $ 21,083 $ 21,349 $ 23,598 $ 21,349 Segment to GAAP adjustment (44) (53) (63) — — (44) — Net finance receivables - GAAP basis $ 23,554 $ 23,075 $ 22,365 $ 21,083 $ 21,349 $ 23,554 $ 21,349 Consumer & Insurance $ 2,710 $ 2,651 $ 2,571 $ 2,454 $ 2,480 $ 2,710 $ 2,480 Segment to GAAP adjustment (5) (6) (7) — — (5) — Allowance for finance receivable losses - GAAP basis $ 2,705 $ 2,645 $ 2,564 $ 2,454 $ 2,480 $ 2,705 $ 2,480 Note: Quarters may not sum to fiscal year due to rounding. (1) Includes strategic activities and other items. (2) Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality. OneMain Holdings, Inc. CONSUMER & INSURANCE SEGMENT (UNAUDITED) (Non-GAAP) Quarter Ended Fiscal Year (unaudited, in millions, except per share amounts) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 2024 2023 Interest income $ 1,312 $ 1,271 $ 1,210 $ 1,172 $ 1,186 $ 4,965 $ 4,559 Interest expense (310) (299) (295) (276) (271) (1,181) (1,015) Net interest income 1,002 972 915 896 915 3,784 3,544 Provision for finance receivable losses (523) (512) (515) (431) (446) (1,981) (1,721) Net interest income after provision for finance receivable losses 479 460 400 465 469 1,803 1,823 Insurance 111 111 111 112 113 445 448 Investment 21 24 30 32 32 108 116 Gain on sales of finance receivables 5 6 6 6 10 23 52 Other 40 40 37 30 30 146 111 Total other revenues 177 181 184 180 185 722 727 Operating expenses (422) (396) (374) (362) (382) (1,554) (1,487) Insurance policy benefits and claims (49) (43) (47) (50) (49) (189) (189) Total other expenses (471) (439) (421) (412) (431) (1,743) (1,676) Adjusted pretax income (non-GAAP) 185 202 163 233 223 782 874 Income taxes (1) (46) (51) (41) (58) (56) (195) (219) Adjusted net income (non-GAAP) $ 139 $ 151 $ 122 $ 175 $ 167 $ 587 $ 655 Weighted average number of diluted shares 119.9 120.1 120.2 120.2 120.1 120.1 120.6 C&I adjusted diluted EPS $ 1.16 $ 1.26 $ 1.02 $ 1.45 $ 1.39 $ 4.89 $ 5.43 Note: Quarters may not sum to fiscal year due to rounding. (1) Income taxes assume a 25% tax rate. OneMain Holdings, Inc. CONSUMER & INSURANCE SEGMENT METRICS (UNAUDITED) Quarter Ended Fiscal Year (unaudited, $ in millions) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 2024 2023 Net finance receivables - personal loans $ 20,833 $ 20,569 $ 20,073 $ 19,854 $ 20,274 $ 20,833 $ 20,274 Net finance receivables - auto finance 2,122 2,009 1,889 843 745 2,122 745 Net finance receivables - consumer loans 22,955 22,578 21,962 20,697 21,019 22,955 21,019 Net finance receivables - credit cards 643 550 466 386 330 643 330 Net finance receivables $ 23,598 $ 23,128 $ 22,428 $ 21,083 $ 21,349 $ 23,598 $ 21,349 Allowance for finance receivable losses $ 2,710 $ 2,651 $ 2,571 $ 2,454 $ 2,480 $ 2,710 $ 2,480 Allowance ratio 11.48 % 11.46 % 11.46 % 11.64 % 11.62 % 11.48 % 11.62 % Net finance receivables 23,598 23,128 22,428 21,083 21,349 23,598 21,349 Finance receivables serviced for our whole loan sale partners 1,141 1,191 1,229 871 882 1,141 882 Managed receivables $ 24,739 $ 24,319 $ 23,657 $ 21,954 $ 22,231 $ 24,739 $ 22,231 Average net finance receivables - personal loans $ 20,751 $ 20,396 $ 19,937 $ 20,117 $ 20,273 $ 20,301 $ 19,788 Average net finance receivables - auto finance 2,072 1,949 1,843 786 707 1,662 559 Average net finance receivables - consumer loans 22,823 22,345 21,780 20,903 20,980 21,963 20,347 Average net finance receivables - credit cards 599 515 430 364 281 477 181 Average net receivables 23,422 22,860 22,210 21,267 21,261 22,440 20,528 Average receivables serviced for our whole loan sale partners 1,174 1,218 1,195 867 881 1,113 852 Average managed receivables $ 24,596 $ 24,078 $ 23,405 $ 22,134 $ 22,142 $ 23,553 $ 21,380 Note: Ratios may not sum due to rounding. OneMain Holdings, Inc. CONSUMER & INSURANCE KEY METRICS (UNAUDITED) (Non-GAAP) Quarter Ended Fiscal Year (unaudited, in millions) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 2024 2023 Adjusted pretax income (non-GAAP) $ 185 $ 202 $ 163 $ 233 $ 223 $ 782 $ 874 Provision for finance receivable losses 523 512 515 431 446 1,981 1,721 Net charge-offs (464) (432) (496) (457) (415) (1,849) (1,536) Change in C&I allowance for finance receivable losses (non-GAAP) 59 80 19 (26) 31 132 185 Pretax capital generation (non-GAAP) 244 282 182 207 254 914 1,059 Capital generation, net of tax(1) (non-GAAP) $ 183 $ 211 $ 136 $ 155 $ 191 $ 685 $ 794 C&I average net receivables $ 23,422 $ 22,860 $ 22,210 $ 21,267 $ 21,261 $ 22,440 $ 20,528 Capital generation return on receivables (non-GAAP) 3.1 % 3.7 % 2.9 % 2.9 % 3.6 % 3.1 % 3.9 % Note: Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum to fiscal year due to rounding. (1) Income taxes assume a 25% rate. OneMain Holdings, Inc. CONSUMER & INSURANCE CONSUMER LOANS METRICS (UNAUDITED) Quarter Ended Fiscal Year (unaudited, $ in millions) Dec 31,2024 Sep 30,2024 Jun 30,2024 Mar 31,2024 Dec 31,2023 2024 2023 Gross charge-offs $ 514 $ 490 $ 553 $ 522 $ 468 $ 2,080 $ 1,768 Recoveries (76) (78) (75) (77) (60) (307) (258) Net charge-offs $ 438 $ 412 $ 478 $ 445 $ 408 $ 1,773 $ 1,510 Gross charge-off ratio 8.96 % 8.72 % 9.68 % 10.05 % 8.82 % 9.34 % 8.69 % Recovery ratio (1.33 %) (1.39 %) (1.39 %) (1.48 %) (1.13 %) (1.39 %) (1.27 %) Net charge-off ratio 7.63 % 7.33 % 8.29 % 8.58 % 7.70 % 7.94 % 7.42 % Average net receivables $ 22,823 $ 22,345 $ 21,780 $ 20,903 $ 20,980 $ 21,963 $ 20,346 Yield 22.2 % 22.1 % 21.9 % 22.1 % 22.1 % 22.1 % 22.2 % Origination volume $ 3,504 $ 3,712 $ 3,582 $ 2,523 $ 3,014 $ 13,321 $ 12,851 30+ delinquency $ 1,322 $ 1,272 $ 1,198 $ 1,153 $ 1,294 $ 1,322 $ 1,294 90+ delinquency $ 579 $ 562 $ 511 $ 591 $ 605 $ 579 $ 605 30-89 delinquency $ 743 $ 710 $ 687 $ 562 $ 689 $ 743 $ 689 30+ delinquency ratio 5.76 % 5.63 % 5.45 % 5.57 % 6.16 % 5.76 % 6.16 % 90+ delinquency ratio 2.52 % 2.49 % 2.33 % 2.86 % 2.88 % 2.52 % 2.88 % 30-89 delinquency ratio 3.24 % 3.14 % 3.13 % 2.72 % 3.28 % 3.24 % 3.28 % Note: Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I consumer loan net finance receivables. Amounts may not sum due to rounding. Defined Terms Adjusted capital = adjusted tangible common equity + allowance for finance receivable losses (ALLL), net of tax Adjusted tangible common equity (TCE) = total shareholders' equity – accumulated other comprehensive loss – goodwill – other intangible assets + junior subordinated debt Auto finance = financing at the point of purchase through a network of auto dealerships Available cash and cash equivalents = cash and cash equivalents – cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposes Average assets = average of monthly average assets (assets at the beginning and end of each month divided by two) in the period Average managed receivables = C&I average net receivables + average receivables serviced for our whole loan sale partners C&I adjusted diluted EPS = C&I adjusted net income (non-GAAP) / weighted average diluted shares Capital generation = C&I adjusted net income – change in C&I allowance for finance receivable losses, net of tax Capital generation return on receivables(1) = annualized capital generation / C&I average net receivables Consumer loans = personal loans and auto finance Finance receivables serviced for our whole loan sale partners = unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program Gross charge-off ratio(1) = annualized gross charge-offs / average net receivables Managed receivables = C&I net finance receivables + finance receivables serviced for our whole loan sale partners + auto finance loans originated by third parties Net adjusted debt = long-term debt – junior subordinated debt – available cash and cash equivalents Net charge-off ratio(1) = annualized net charge-offs / average net receivables Net leverage = net adjusted debt / adjusted capital Opex ratio = annualized C&I operating expenses / average managed receivables Other net revenue = other revenues – insurance policy benefits and claims expense Personal loans = loans secured by titled collateral or unsecured and offered through our branch network, central operations, or digital platform Pretax capital generation = C&I pretax adjusted net income – change in C&I allowance for finance receivable losses Purchase volume = credit card purchase transactions + cash advances – returns Return on assets (ROA) = annualized net income / average total assets Return on receivables (C&I ROR) = annualized C&I adjusted net income / C&I average net receivables Total revenue = C&I interest income + C&I total other revenue Unencumbered receivables = unencumbered unpaid principal balance of consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude billed interest, fees, and closed accounts with balances (1) 2Q24 and fiscal year 2024 adjusted for policy alignment associated with the Foursight acquisition. OneMain Holdings, Inc. Investor Contact:Peter R. Poillon, 212-359-2432[email protected] Media Contact:Kelly Ogburn, 410-537-9028[email protected] SOURCE OneMain Holdings, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

ONEMAIN HOLDINGS, INC. REPORTS FOURTH QUARTER 2024 RESULTS

FAQ

Why Bearish?

How important is it?

Why Short Term?

Related Companies

Related News