CURO : ABS Investor Presentation

ABS Investor Presentation

October 2023

Disclaimer

IMPORTANT: You must read the following information before continuing to the rest of the presentation, which is being provided to you for informational purposes only.

FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements. These forward-looking statements include projections, estimates and assumptions about various matters such as our future operational performance, our growth strategy framework and our third quarter outlook. In addition, words such as "estimate," "believe," "forecast," "predict," "project," "intend," "should" and variations of such words and similar expressions are intended to identify forward-looking statements. Our ability to achieve these forward-looking statements is based on certain assumptions, judgments and other factors, both within and outside of our control, that could cause actual results to differ materially from those in the forward-looking statements, including, risks relating to the uncertainty of projected financial information and forecasts, our level of indebtedness; our dependence on third-party lenders to provide the cash we need to fund our indebtedness and our ability to affordably access third-party financing; the impact of regulations on our business; the effects of competition on our business; our ability to attract and retain customers; global economic, market, financial, political or public health conditions or events; our ability to integrate acquired businesses; our ability to protect our proprietary technology and analytics; disruption of our information technology systems; improper disclosure of customer personal data, as well as other factors discussed in our filings with the Securities and Exchange Commission. The foregoing factors, as well as other existing risk factors and new risk factors that emerge from time to time, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward- looking statements as a prediction of actual future results. Furthermore, the Company undertakes no obligation to update, amend or clarify forward-looking statements.

NON-GAAP FINANCIAL MEASURES

In addition to the financial information prepared in conformity with U.S. GAAP, we provide certain "non-GAAP financial measures," which are intended as a supplemental measure of our performance that are not required by, or presented in accordance with, GAAP. We present these non-GAAP financial measures because we believe that, when viewed with our GAAP results and the accompanying reconciliation, such measures provide useful information for comparing our performance over various reporting periods as they remove from our operating results the impact of items that we believe do not reflect our core operating performance. These non-GAAP financial measures are not substitutes for any GAAP financial measure and there are limitations to using them. Although we believe that these non-GAAP financial measures can make an evaluation of our operating performance more consistent because they remove items that do not reflect our core operations, other companies in our industry may define their own non-GAAP financial measures differently or use different measures. As a result, it may be difficult to use any non-GAAP financial measure to compare the performance of other companies to our performance. The non-GAAP financial measures presented in these slides should not be considered as measures of the income generated by our business or discretionary cash available to us to invest in the growth of our business. Our management compensates for these limitations by reference to GAAP results and using these non-GAAP financial measures as supplemental measures.

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Key Management

Doug Clark

Chief Executive Officer

Izzy Dawood

Chief Financial Officer

Gary Fulk

Chief Operating Officer

Rusty Foster

SVP, Corporate Treasurer

Shu Chen

Chief Credit Risk Officer

• Joined CURO in 2021; began service as CEO in November 2022
• Formerly CEO of Heights, joined CURO as President of North America Direct Lending and was subsequently promoted to CEO
• ~20 years of consumer finance experience driving organizational growth, including leadership roles at Heights and Axcess Financial
• Joined CURO in 2023, as CFO
• 20+ years of experience building and leading financial teams, including CFO roles at Paysafe, a global payments platform and Branch International
• Joined CURO in 2021 through the acquisition of Heights Finance
• 28+ years of consumer finance experience including Heights Finance and OneMain Financial where he held numerous leadership and operational roles
• Joined CURO in 2013, and oversees Treasury and Capital Markets
• 23+ years of treasury management and capital markets experience within a variety of industries, including 10 years in the financial services industry
• Joined CURO in 2023, and oversees risk and analytics
• 10+ years of experience in credit, fraud, risk monitoring, loss forecasting and marketing analytics, including her prior role as Chief Risk and Analytics officer of CNG Holdings

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Company Overview

• Omni-channelconsumer finance company serving consumers in the U.S. and Canada
• Operates in almost 500 branches across 13 states in the U.S. and nearly 150 branches in Canada, eight provinces with retail locations and eight provinces and one territory online
• Secured and unsecured installment and open-end loan products for near-prime and non-prime consumers as well as credit insurance and other ancillary financial products
• CURO is a publicly traded company: NYSE Listed: "CURO"

4

Strategic Transformation

CURO started as a U.S. short-term lender, but through investments and M&A, has repositioned the business to align with go-forward strategy of offering longer term, higher balance and lower risk credit products

Acquisition of	Sale of Legacy U.S.
Direct Lending Business
Heights
Accelerates transition
Entrance into the
from and reduces
<36% APR loan
exposure to high APR
market
loan products

Acquisition of First Heritage Credit

Expands <36% APR lending capabilities, adding new strategic geographies

Sale of Flexiti

Completes transformation allowing us to focus exclusively on our Direct Lending business

2021

Refinanced Senior Notes and upsized issue to $1B

2022

	Refinanced and
	upsized Warehouse
	Facilities for Heights	Issued $150M
	($425M) and First
	Sr Term Loan
	Heritage ($225M) as
	and executed
	part of the acquisitions
	uptier exchange
			on $1B Senior Notes

2023

Executed new C$110M Warehouse Facility in Canada

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Public Company Discipline

PUBLIC COMPANY

TRANSPARENCY

Publicly available SEC filings and disclosures

EXTERNAL AUDIT

External financial statement and SOX audit performed by Deloitte

INTERNAL AUDIT

• Experienced internal audit team
• Perform risk-based financial, operational, compliance, technology audits across the company

INTERNAL CONTROLS

SOX framework and controls in place since 2018, tested annually

FRAUD DETECTION

AND CYBERSECURITY

• Industry leading proprietary fraud detection framework
• Quarterly presentations to board, as well as performing internal and external penetration tests, PCI audits and social engineering tests

COMPLIANCE AND RISK

• Experienced robust compliance team; CCO reports to the board
• Enterprise Risk Framework implemented 2020 utilizing COSO ERM Framework
• Enterprise risk committee reports to the board's Risk and Compliance Committee, which is chaired by independent board member

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Direct Lending by Geography

U.S. DIRECT LENDING

Secured and unsecured installment loan products to near-prime and non- prime consumers as well as credit insurance and other ancillary financial products in almost 500 branches across 13 states.

CANADA DIRECT LENDING

Near-prime and non-primeopen-end loans and single-pay loans, as well as payment protection insurance in nearly 150 branches and online in nine provinces.

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Direct Lending (U.S.) Overview

Overview:

• Gross AR >$700M
• Almost 500 branches across 13 states
• Near-primeand non-prime, both secured and unsecured
• Ongoing shift to larger, lower rate loans decreases regulatory risk

Loan Characteristics1	≤ 36% APR	> 36% APR
% of Portfolio	51%	49%
Avg Original Balance	~$6,600	~$2,000
Avg Term	42	24
Avg FICO	632	612
Avg Yield2	~36%	~61%
% Secured	38%	12%

1 As of 6/30/23, all values are rounded
2 Avg Yield = (Revenue / Average Receivables) and includes approximately	8
6% of ancillary insurance yield

Direct Lending (Canada) Overview

Overview:

• Gross AR ~$500M

• Nearly 150 branches across nine provinces and online
• Open-endloans and single-pay loans
• Omni-channelsolution (online and branch)
• Typical customer: 33% homeowners, average annual net income of ~C$36,000, and nine years in current job

Open-end Loan Characteristics1,2

Avg Original Balance	~C$3,500
Avg Term	n/a2
Avg Credit Vision Score	627
Avg Yield3	~58%
1 As of 6/30/23, all values are rounded
2	Our primary product in Canada is an open-ended product		9
3	Avg Yield = (Revenue / Average Receivables) and includes approximately

13% of ancillary insurance yield

Our Typical Customer in the U.S.
Average Monthly	~$2,300
Net Income
Average FICO	626
Home Ownership	46%
Avg Years at	10.2
Residence
Note: The above demographics are as of 9/30/2023
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