Spec Fin Weekly

Research evidence excerpt

Spec Fin Weekly

Bull/Bear Call on Consumer Finance Ahead of 2Q26 Earnings: June 25, 11am ET: Most of the topics we planned to discuss, were

addressed in several monthly data notes published last week. We received a lot of feedback on these notes, especially pushback

on the negative estimate changes on OMF and AFRM.

As we look ahead to the upcoming earnings season and plan our 2Q26 earnings preview, we are generally feeling positive aboutSPECIALTY our companies broadly, but with specific areas to watch for. One area we're focusing on early is credit reserve rate, as we are

surprised that some consensus numbers have reserve rates declining significantly in 2Q26 and through 2H26.

We plan to discuss these and other stock-specific topics during our bull bear call this week on Thursday, June 25 at 11am ET. We'll

also talk takeaways from our company calls ahead of the blackout periods, a review of what we learned during the May/JuneFINANCE conference season, and industry debates.

These conversations will include key industry themes of:

■ Updates to 2026 Guidance, especially in Net Interest Margins and loan growth.

■ Credit reserve and loss trends, which are getting better for some companies and worse for others.INDUSTRY

■ Funding trends and updates in deposit costs, ABS / debt capital markets, and private credit.

■ Bank application statuses for our fintechs, and other regulatory updates.

Please contact us or your BTIG representative to register. Note this call is for investors only.REPORT

Fed Bank Charter > Industrial Loan Charter: Trade Groups Sue Oregon Over DIDMCA Opt Out: The National Association of

Industrial Bankers, the American Financial Services Association and the Online Lenders Alliance are suing to block Oregon from