The following discussion and analysis provides information that management believes is relevant to an assessment and understanding of our consolidated results of operations and financial condition. You should read this discussion and analysis in conjunction with the condensed consolidated financial statements and notes thereto included elsewhere in this Quarterly Report on Form 10-Q, as well as SoFi Technologies’ audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K filed with the SEC on February 17, 2026 and subsequent filings with the SEC. Certain amounts may not foot or tie to other disclosures due to rounding. Certain information in this discussion and analysis or set forth elsewhere in this Quarterly Report on Form 10-Q contains forward-looking statements that involve numerous risks and uncertainties, including, but not limited to, those described under the sections entitled “Cautionary Statement Regarding Forward-Looking Statements” and Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K. We assume no obligation to update any of these forward-looking statements. Actual results may differ materially from those contained in any forward-looking statements. Page Business Overview 58 Business Highlights 64 Non-GAAP Financial Measures 66 Key Business Metrics 72 Key Factors Affecting Operating Results 75 Consolidated Results of Operations 77 Net Interest Income 77 Noninterest Income 80 Provision for Credit Losses 81 Noninterest Expense 84 Income Taxes 85 Summary Results by Segment 86 Lending Segment 87 Technology Platform Segment 93 Financial Services Segment 94 Corporate/Other Segment 96 Consolidated Balance Sheet Analysis 98 Liquidity and Capital Resources 100 Critical Accounting Estimates 104 Recent Accounting Standards Issued, But Not Yet Adopted 105 56 SoFi Technologies, Inc. TABLE OF CONTENTS Business Overview We are a mission driven company designed to help our members achieve financial independence in order to realize their ambitions. To us, financial independence does not mean being wealthy, but rather represents the ability of our members to have the financial means to achieve their personal objectives at each stage of life, such as owning a home, having a family, or having a career of their choice — more simply stated, to have enough money to do what they want. We were founded in 2011 and have developed a suite of financial products that offers the speed, selection, content and convenience that only an integrated digital platform can provide. In order for us to achieve our mission, we have to help people get their money right, which means providing them with the ability to borrow better, save better, spend better, invest better and protect better. Everything we do today is geared toward helping our members “Get Your Money Right” and we strive to innovate and build ways for our members to achieve this goal. In order to help achieve our mission, we are a member-centric, everything app for digital financial services that, through our Lending and Financial Services products, allows members to borrow, save, spend, invest and protect their money. We refer to our customers as “members” and “clients” as defined under “Key Business Metrics”. We offer personal loans, student loans, home loans and related servicing and offer a variety of financial services products, such as SoFi Money, SoFi Credit Card, SoFi Crypto, SoFi Invest and SoFi Relay, that provide more daily interactions with our members, as well as products and capabilities, such as SoFi At Work, that are designed to appeal to enterprises. Lending related services that we offer through our Loan Platform Business help a broader range of borrowers to find lending solutions, through our relationships with members as well as third-party enterprise partners. Our Technology Platform supports innovation for a broad range of enterprises, with offerings that give clients the ability to create, launch and run financial products. In addition, SoFi Plus is our premium financial membership product that provides benefits that span our offerings and brings together all we have to offer. At the start of the second quarter, we relaunched SoFi Plus with significantly enhanced benefits in our other products, including Money at 4.5% interest and Invest with a 1% match on all deposits, while fully transitioning the product to a paid subscription model. We have built a personalized area within our digital native application, which we refer to as the member home experience. The member home experience is personalized and delivers content to a member about what they must do that day in their financial life, what they should consider doing that day in their financial life, and what they could do that day in their financial life. Through the member home experience, there are significant opportunities to build frequent engagement and, to date, the member home experience has been an important driver of new product adoption. The member home experience is an important part of our strategy and our ability to use data as a competitive advantage. To complement these products and services, we believe in establishing partnerships with other enterprises to leverage our existing capabilities to reach a broader market and in building vertically-integrated technology platforms designed to manage and deliver our suite of products and technology solutions to our members and clients in a low-cost and differentiated manner. Our three reportable segments and their primary product and service offerings as of June 30, 2026 were as follows: _________________ (1)Loan Platform Business includes activity related to (i) certain loans which we originate on behalf of third-party partners, (ii) referred loans which are originated by a third-party partner to which we provide pre-qualified borrower referrals, (iii) certain loans associated with our Lantern financial services marketplace platform, (iv) servicing rights assumed from third parties, and (v) beginning in the second quarter of 2026, SoFi branded small business loans. Refer to “Our Reportable Segments—Financial Services Segment” and “Our Reportable Segments—Lending Segment” for more information. 57 SoFi Technologies, Inc. TABLE OF CONTENTS Members We have created an innovative financial services platform designed to offer best-in-class products to meet the broad objectives of our members and the lifecycle of their financial needs. Our platform offers our members (as defined under “Key Business Metrics”) a suite of financial products and services, enabling them to borrow, save, spend, invest and protect their finances across one integrated platform, as well as personal financial management tools and benefits to complement our products. Our aim is to create a best-in-class, integrated financial services platform that will generate a virtuous cycle whereby positive member experiences will lead to new product adoption by existing members and enhanced profitability for each additional product by lowering overall member acquisition costs and increasing the lifetime value of our members. We refer to this virtuous cycle as our “Financial Services Productivity Loop”. We believe that developing a comprehensive, long-term relationship with our members and gaining their trust is central to our success as a financial services platform. We have a digital-first financial services platform that we believe can support all of our members’ financial services needs throughout their lifetime. We believe this will lead to a competitive advantage over other financial institutions that provide a disjointed and non-seamless product experience, a lack of digital customer acquisition, subpar mobile web products instead of digital native apps and incomplete product offerings to meet a customer’s holistic financial needs. Enterprises In addition to benefiting our members, our products and capabilities are also designed to appeal to enterprises and have become interconnected with the SoFi platform, such as financial services institutions that subscribe to our enterprise services, third-party partners in our Loan Platform Business, and clients who utilize our technology platform services. While our enterprises are not considered members, they are important contributors to the growth of the SoFi platform, and also have their own constituents who might benefit from our products in the future. SoFi Bank SoFi Technologies is a bank holding company, and SoFi Bank is a nationally chartered association. As a bank holding company, we offer checking and savings accounts, credit cards and crypto trading through SoFi Bank. We are originating all new loans within SoFi Bank, and we intend to continue to explore other products for SoFi Bank over time, including stablecoin issuance and tokenized deposits. The key current and expected financial benefits to us of operating a national bank include: (i) lowering our cost to fund loans, as we can utilize deposits held at SoFi Bank to fund loans, which generally have a lower borrowing cost of funds than warehouse and securitization financing, (ii) increasing our flexibility to hold loans on our balance sheet for longer periods, thereby enabling us to earn interest on these loans for a longer period, (iii) supporting origination volume growth by providing an alternative financing option, while also maintaining our warehouse capacity, and (iv) through deposits, providing us with a channel to obtain meaningful member data that can allow us to better serve our members’ financial needs. See Part II, Item 1A. “Risk Factors” for a discussion of certain potential risks related to being a bank holding company. International Operations While we primarily operate in the United States, we also operate internationally in Latin America, Canada and Switzerland largely through our Technology Platform segment, as well as in Hong Kong through SoFi Holdings (Hong Kong) Limited (an investment business). Our Reportable Segments We conduct our business through three reportable segments: Lending, Technology Platform and Financial Services. Below is a discussion of our segments and their primary products and non-product offerings. Lending Segment We offer personal loans, student loans, home loans and related servicing to help our members with a variety of financial needs. We believe that our market opportunity within each of these lending channels is significant. Our lending process primarily leverages an in-application, digital borrowing experience, which we believe serves as a competitive advantage as digital lending becomes increasingly ubiquitous. Furthermore, our platform supports the full transaction lifecycle, including credit application, underwriting, approval, funding and servicing. Through data derived at loan origination and throughout the servicing process, SoFi has life-of-loan performance data on each loan in our ecosystem that we originate and on which we retain servicing, which provides a meaningful data asset. Net interest income, which we define as the difference between the 58 SoFi Technologies, Inc. TABLE OF CONTENTS earned interest income and interest expense to finance loans, is a key component of the profitability of our Lending segment, along with fee-based revenue, which includes loan origination fees. Personal Loans. We originate personal loans to help our members with a variety of financial needs, such as debt consolidation, home improvement projects, family planning, travel and weddings, to name a few. We offer fixed rate loans with flexible repayment terms. We generally offer loan sizes of $5,000 to $100,000, subject to legal and/or licensing requirements, with terms generally ranging from 2 to 7 years. We regularly update the annual percentage rates offered on our personal loans. Student Loans. We operate in the student loan refinance space, with a focus on prime and super-prime school loans, as well as the “in-school” lending space, which allows members to borrow funds while they attend school. We offer flexible loan sizes, repayment options and competitive rates. Within student loan refinancing, we generally offer loan sizes of $5,000 or higher, subject to legal and/or licensing requirements, with terms generally ranging from 5 to 20 years. Within in-school loans, we generally offer loan sizes of $1,000 or higher, subject to legal and/or licensing requirements, with terms generally ranging from 5 to 20 years. We regularly update the annual percentage rates offered on our fixed and variable-rate student loans. Home Loans. We originate agency, non-agency, and certain government loan products (including FHA and VA loans) to members who are purchasing a home, refinancing an existing mortgage, or obtaining a home equity loan. Across our home loan products, we provide competitive rates, flexible down payment options as low as 3% (or 0% for VA loans), a close-on-time guarantee, and educational tools and calculators to support members throughout the borrowing process. When a member’s credit profile or other risk attributes do not align with our underwriting guidelines or risk appetite, we may broker home equity loans and home equity lines of credit to a third-party wholesale lender to help meet the member’s financing needs. During the second quarter of 2026, we launched the SoFi HELOC, a solution for members that want the flexibility to utilize the equity in their primary residence for debt consolidation, emergencies, or any other purpose, with competitive rates, expansive underwriting guidelines, and a fast close. We originate loans in accordance with applicable loan limits and program requirements, including Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) conforming limits and FHA and VA program limits, with FHA and VA loan amounts capped at $1,500,000. We also offer jumbo loans with loan amounts up to $3,000,000 and fixed-rate home equity loans up to $750,000. Our fixed-rate home loans generally have terms of 10, 15, 20, 25 or 30 years. We also offer adjustable-rate mortgage products for conforming and jumbo loans, with an initial fixed-rate period of 5, 7 or 10 years, followed by rate adjustments every six months for the remaining term. For FHA and VA loans, we offer adjustable-rate products with a fixed rate for five years followed by rate adjustments every year for the remainder of the term. We regularly update the annual percentage rates offered on our home loans. Lending Model We originate loans through our lending business, and have the option of pursuing a gain-on-sale origination model, whereby we seek to recognize a gain from these loans and sell them into either our whole loan or securitization channels, or holding loans on our balance sheet when advantageous. This enables us to maximize our return and balance our risk by earning interest on these loans for a longer period and to be selective in our sales arrangements. We sell our whole loans primarily to large financial institutions. In securitization transactions that do not qualify for sale accounting, the related assets remain on our balance sheet and cash proceeds received are reported as liabilities, with related interest expense recognized over the life of the related borrowing. In securitization transactions that qualify for sale accounting, we typically have insignificant continuing involvement as an investor. In the case of both whole loan sales and securitizations, and with the exception of certain of our home loans, we also continue to retain servicing rights to our originated loans following transfer. We also originate and sell loans in support of our Loan Platform Business, through which we provide lending related services to third-party partners. We maintain the same lending relationship with borrowers across all loans that we originate, inclusive of those originated on behalf of a third-party partner and as such, reflect these products within our Lending segment total products. This enables borrowers to gain access to all the benefits of becoming a SoFi member, and enhances our opportunities to sell additional products from across our platform to these members. See “Financial Services Segment” for more information. We directly service all of the personal loans that we originate through our lending business, as well as provide servicing in support of our Loan Platform Business on loans originated on behalf of third-party partners and servicing rights assumed from third parties. We act as master servicer for, and rely on sub-servicers to directly service, all of our student loans and GSE conforming home loans. We view servicing as an integral component of the Lending segment, as we believe our servicing function is an important asset because of the connection to the member it affords us throughout the life of the loan thereby enhancing the effectiveness of our Financial Services Productivity Loop by increasing member touchpoints and driving new product adoption by existing members. 59 SoFi Technologies, Inc. TABLE OF CONTENTS We rely upon deposits, warehouse financing and our own capital to enable us to continue to expand our origination capabilities. Our ability to utilize deposits held at SoFi Bank to fund our loans has lowered our overall cost of asset-backed financing relative to alternative sources of funding. We expect to benefit from the continued mix towards deposit funding through operating SoFi Bank. Underwriting Process We have developed an extensive underwriting process across each lending product that is focused on willingness to pay (measured by credit attributes and risk scores), ability to pay (measured through free cash flow), and stability (measured by credit experience). A key element of our underwriting process is the ability to facilitate risk-based interest rates that we believe are appropriate for each loan using proprietary risk models. We believe the outcome of this process helps us determine a more data-driven, risk-adjusted interest rate that we can offer our members. Further, our data and monitoring tools enable us to implement risk mitigation strategies quickly and efficiently, including underwriting standard adjustments to adapt our operations to changing environments and expectations. Our personal loan and student loan underwriting models are typically based on credit reports, standard industry credit scores, custom credit assessment models, and debt capacity analysis, as indicated by borrower free cash flow. Home loans originated by SoFi that are agency-conforming loans are subject to credit, debt-to-income, and collateral eligibility established by the GSEs. Government loans, such as VA and Federal Housing Administration loans, are subject to the underwriting requirements established by the appropriate government agency. In addition to these requirements, agency-conforming and government loans are subject to credit eligibility criteria established by SoFi as well as individual investor requirements. Other non-agency loans originated by us, such as jumbo loans and home equity loans, are subject to credit eligibility established by SoFi and/or investor credit criteria, which typically includes established credit history requirements, credit score requirements, income verification, as well as maximum limits on debt-to-income and caps on loan-to-value. We also leverage our data to provide existing members a streamlined application process through automation. Across our loan products, existing members generally experience a higher approval rate than new members, subject to the existing member being in good standing on their existing products. Technology Platform Segment We provide technology platform services through a diversified suite of offerings which include an event and authorization platform accessed via application programming interfaces, a cloud-native digital and core banking platform and services related to both platforms. Our customers and partners include financial institutions, government entities and non-financial institutions primarily in North America and Latin America. We earn technology product and solutions fee-based revenue through the use of the platforms, either as a stand ready obligation, or from overall license and maintenance fee service arrangements related to those respective platforms. We also offer additional add-on technology solutions to support our clients and drive engagement, such as a conversational AI engine for customers of banks and financial institutions, and a real-time payment risk platform which employs AI and machine learning technology to enhance payment fraud mitigation strategies for financial customers. We continue to leverage investments made to integrate our services and offerings to position the Technology Platform segment for diversified durable growth. Our acquisition of Peach, a cloud-native, API-first loan management and servicing platform, in the second quarter of 2026, is intended to further expand our enterprise technology capabilities. Financial Services Segment We offer a suite of financial services solutions, the most significant of which are discussed below. Our financial services products (as defined under “Key Business Metrics”) by nature provide more daily interactions with our members and are differentiated from our lending products, which inherently provide less consistent touchpoints with our members. We also offer financial services solutions which are designed to appeal to enterprises, including our At Work product and lending related services offered through our Loan Platform Business. Certain products, such as our complementary SoFi Relay product, do not provide direct sources of revenue but foster additional touch points with our members. We believe that our suite of financial services offerings provide many ways for our members to actively engage in getting their money right as well as attractive enterprise solutions. This enables us to deliver positive experiences through various channels, building trust and durable relationships which can ultimately demonstrate the effectiveness of our Financial Services Productivity Loop virtuous cycle. SoFi Money Checking and savings accounts provide a digital banking experience which allows members to spend, save and earn interest and rewards in flexible ways. We believe SoFi Checking and Savings accounts held at SoFi Bank are attractive to our 60 SoFi Technologies, Inc. TABLE OF CONTENTS members and prospective members due to our differentiated offerings, including competitive interest rates, access to expanded FDIC insurance coverage of up to $3 million through our Insured Deposit Program and the convenience and benefits of being part of a cohesive, simplified financial ecosystem within our mobile platform. We also offer global remittance services which leverage blockchain technology to provide fast, seamless, low cost and safe international payments. SoFi Invest A mobile-first investment platform offering members access to trading and advisory solutions, such as active investing and robo-advisory. Our interactive investing experience fosters engagement by allowing members to view and monitor other investors’ activity on the platform. Our active investing service enables members to buy and sell stocks and ETFs, as well as alternative investment funds, mutual funds and money market funds, to engage in options trading, to participate in IPOs, to buy and sell fractional shares, to engage in margin investing and to access a retirement investment account. Our robo-advisory service offers a variety of managed portfolios comprising ETFs and mutual funds that are built and managed by our investment committee with support from an asset management partner. Additionally, we provide introductory brokerage services to our members and have invested heavily to create an appealing mobile investing experience. Our acquisition of Composer, an AI- powered investing platform, in the second quarter of 2026 is intended to advance our strategy of making advanced investing tools more accessible for our members. SoFi Crypto During the fourth quarter of 2025, we launched SoFi Crypto, a digital asset trading platform within our Financial Services segment. This offering is structured differently from our prior legacy offering and is designed to operate within the Company’s current regulatory framework. SoFi Crypto enables members to buy, sell and hold digital assets through SoFi Bank. The platform is integrated with our existing banking products, allowing members to fund digital asset transactions directly from their SoFi Money checking and savings accounts without transferring funds to external platforms, providing a consolidated experience within a single application. The platform leverages our existing technology infrastructure, compliance framework, and security controls applicable to our bank and brokerage operations. We also provide educational content and in-app disclosures designed to improve accessibility and help members understand digital assets and associated risks, particularly for members who are new to cryptocurrency transactions. In December 2025, we also launched SoFiUSD, our proprietary stablecoin issued on a public, permissionless blockchain, which represented an additional step in expanding our digital asset capabilities. SoFiUSD is intended to support faster, lower-cost and more efficient movement of funds across payment ecosystems. During the first quarter of 2026, we began minting SoFiUSD and started working with Mastercard to support future settlement capabilities across its global payments network. In the second quarter of 2026, we launched SoFiUSD for members, and entered into agreements with third parties to support the distribution of SoFiUSD. These initiatives are intended to enhance interoperability between digital assets and fiat currencies and, over time, facilitate more continuous transaction settlement capabilities. Loan Platform Business We provide lending related services to a broader set of members through our platform of enterprise partners. Revenue from the Loan Platform Business is fee-based. This includes (i) activity through which third-party partners leverage our end-to-end origination and servicing platform to acquire loans within their credit specifications on a fee per loan basis, (ii) referred loans originated by a third-party partner to which we provide pre-qualified borrower referrals, (iii) activity related to certain loans associated with our Lantern financial services marketplace platform, and (iv) beginning in the second quarter of 2026, small business loans. In addition, we offer loan servicing support through our lending business. See “Lending Segment” for more information. Additional financial services solutions offered within our platform include: •SoFi Credit Card: We offer credit card products designed to help eligible members spend better, with benefits and features that fit our members’ everyday spending, borrowing and lifestyle needs, including flexible options to redeem cash back rewards through statement credit or other SoFi products. •SoFi Relay: A personal finance management product that allows members to track all of their financial accounts in one place and gain meaningful insights into their financial health and habits to help them improve their financial standing, such as credit score monitoring and spending behaviors. This foundation of comprehensive financial data also powers SoFi Coach, an interactive experience that delivers personalized guidance to help members track, budget, and invest across their entire financial ecosystem. Together, these products provide us with unified intelligence about our 61 SoFi Technologies, Inc. TABLE OF CONTENTS members that offers information about what SoFi products and features may help our members best achieve their financial goals, allowing us to further personalize the SoFi experience for our members. •Lantern: A financial services marketplace platform developed to help small businesses and individuals who do not qualify for SoFi products, through a simplified search and application experience that connects these users to alternative financial solutions from a curated network of other providers. •SoFi Protect: A service through which we partner with providers who offer insurance products to help our members protect their assets, including providers across auto, life, homeowners, renters, and cyber insurance products and estate planning. •SoFi Travel: A service through which we partner with a provider to offer an easy travel search and booking experience that can be managed directly through the SoFi app or website, alongside expanded member benefits including member prices on certain bookings and additional cash back rewards on purchases made with SoFi Credit Card. •SoFi At Work: A service through which we partner with other enterprises looking for a seamless way to provide financial benefits to their employees, such as student loan payments made on their employees’ behalf. •SoFi Plus: A premium membership product through which we provide expanded benefits across the SoFi ecosystem to help our members maximize their money, including our highest APY on checking and savings, discounted loan rates, and additional cash back rewards for members. At the start of the second quarter, we relaunched SoFi Plus with significantly enhanced benefits in our products, while fully transitioning the product to a paid subscription model. •SoFi Smart Card: Our recently launched secured charge card product, linked directly to a member’s SoFi Checking and Savings account, that offers better choice and control over spending, attractive rewards, a way to build credit history, and high interest on savings balances. We believe that the content and features we provide within our mobile application can spur more financial education, which leads to more ways for our members to actively engage in getting their money right and utilize SoFi products. We earn revenues, both net interest income and fee-based, in connection with our Financial Services segment primarily in the ways listed below. See Note 17. Business Segment Information and Note 3. Revenue to the Notes to Condensed Consolidated Financial Statements for additional information on the FTP framework and Financial Services revenue from contracts with customers. Certain products, such as our complementary product SoFi Relay, do not provide direct sources of revenue. Revenue is driven primarily by variability in product utilization by members, as well as volume of transactions related to arrangements that we enter into with enterprise partners as outlined below. •Net interest income: Net interest income is a key component of the profitability of our Financial Services segment as it relates primarily to our SoFi Money and credit card products. Net interest income on SoFi Money is based on interest income determined using our FTP framework, net of interest expense based on the interest rate offered to our members on their deposits. Net interest income on credit card is based on the contractual interest included in credit card agreements, net of interest expense as determined using the FTP framework. •Loan Platform Business, other fees: Through our Loan Platform Business, we originate loans on behalf of third-party partners, for which we receive a specified fee upon sale. The fee includes components for a fixed price per loan and recognition of servicing assets. These fees accounted for 56% of our total Financial Services noninterest income for the six months ended June 30, 2026. •Referral fees: Through strategic partnerships, we earn a specified referral fee in connection with referral activity we facilitate through our platform, inclusive of referral fees generated through our Loan Platform Business for providing pre-qualified borrower referrals (referred loans) to a third-party partner who separately contracts with a loan originator. Referral fees are paid to us by third-party partners that offer services to end users who do not use one of our product offerings, but who were referred to the partners through our platform. Our referral fee is calculated as either a fixed price per successful referral, a percentage of the funded loan, or a percentage of the transaction volume between the enterprise partners and referred consumers. Total referral fees, inclusive of referral fees generated through our Loan Platform Business, accounted for 12% of our total Financial Services noninterest income for the six months ended June 30, 2026. •Interchange fees: We earn interchange fees from our SoFi-branded debit cards and credit cards. These fees are remitted by merchants and represent a percentage of the underlying transaction value processed through a payment network. We engage a card association and enter into contracts that establish the shared economics of SoFi-branded transaction cards. Interchange fees accounted for 18% of our total Financial Services noninterest income for the six months ended June 30, 2026. 62 SoFi Technologies, Inc. TABLE OF CONTENTS •Brokerage fees: We earn brokerage fees primarily from our share lending and payment for order flow arrangements related to our SoFi Invest product, in which we benefit through a negotiated multi-year revenue sharing arrangement, since our members' brokerage activity drives the share lending and payment for order flow volume. Brokerage fees accounted for 8% of our total Financial Services noninterest income for the six months ended June 30, 2026. Business Highlights SoFi is a financial services company that leverages technology to serve people and enterprises. SoFi's continuous investments in innovation and brand building delivered the strongest financial performance in company history, fueling significant member and product growth and paving the way for future growth. Key financial achievements for the three and six months ended June 30, 2026, include total net revenue of $1.2 billion and $2.3 billion, respectively, both up 43%, compared to the same periods of 2025. For the three and six months ended June 30, 2026, net interest income increased 52% and 46%, respectively, compared to the same periods of 2025, as we increased loan originations for our balance sheet. Total fee-based revenue for the three and six months ended June 30, 2026 reached $472.3 million and $859.1 million, respectively, compared to $377.5 million and $692.9 million in the same 2025 periods, driven by loan originations, interchange and brokerage fee revenue, as well as continued strong Loan Platform Business performance. Diluted EPS for the three and six months ended June 30, 2026 was $0.12 and $0.24, respectively, compared $0.08 and $0.14 in the same 2025 periods. The following tables set forth selected financial data: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands, except per share amounts) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Net interest income $ 788,195 $ 517,837 $ 270,358 52 % $ 1,481,183 $ 1,016,563 $ 464,620 46 % Total noninterest income 430,481 337,107 93,374 28 % 837,861 610,140 227,721 37 % Total net revenue 1,218,676 854,944 363,732 43 % 2,319,044 1,626,703 692,341 43 % Provision for credit losses 13,755 10,035 3,720 37 % 22,650 15,713 6,937 44 % Total noninterest expense 1,000,612 732,717 267,895 37 % 1,892,533 1,419,016 473,517 33 % Net income $ 156,592 $ 97,263 $ 59,329 61 % $ 323,323 $ 168,379 $ 154,944 92 % Earnings per share – diluted $ 0.12 $ 0.08 $ 0.04 50 % $ 0.24 $ 0.14 $ 0.10 71 % Net interest margin 5.98 % 5.86 % 5.94 % 5.94 % ($ in thousands) June 30, 2026 December 31, 2025 $ Change % Change Loans held for sale $ 29,737,289 $ 22,862,749 $ 6,874,540 30 % Loans held for investment, at fair value 16,920,564 13,657,578 3,262,986 24 % Loans held for investment, at amortized cost 1,275,529 1,516,736 (241,207) (16) % Total deposits 45,543,160 37,505,395 8,037,765 21 % Total risk-based capital ratio, SoFi Technologies 18.8 % 22.9 % Total risk-based capital ratio, SoFi Bank 15.3 % 16.6 % Continued growth in both total members and products, along with improving operating efficiency, reflects the benefits of our broad product suite and Financial Services Productivity Loop strategy. Total members reached over 15.8 million as of June 30, 2026, a 35% increase from the prior year period, while total products reached nearly 24.4 million as of June 30, 2026, a 42% year-over-year increase. 63 SoFi Technologies, Inc. TABLE OF CONTENTS Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Lending Total net revenue $ 724,798 $ 443,512 281,286 63 % $ 1,367,218 $ 856,885 510,333 60 % Contribution profit 399,033 244,710 154,323 63 % 781,419 483,645 297,774 62 % Technology Platform Total net revenue 84,505 109,833 (25,328) (23) % 159,591 213,260 (53,669) (25) % Contribution profit 11,772 33,195 (21,423) (65) % 23,771 64,108 (40,337) (63) % Financial Services Total net revenue 466,278 362,533 103,745 29 % 894,821 665,652 229,169 34 % Contribution profit 212,676 188,232 24,444 13 % 408,260 336,564 71,696 21 % Lending segment contribution profit was $399.0 million and $781.4 million for the three and six months ended June 30, 2026, respectively, at a segment contribution margin of 55% and 57%. This represents a slight improvement compared to the respective 2025 periods, which had a segment contribution margin of 55% and 56%, respectively. Lending segment performance was driven by growth in net interest income and loan origination fees driven by an increase in loan originations for our balance sheet. Origination volume for our Lending products increased 69% for both the three and six months ended June 30, 2026, as a result of continued strong member demand for personal loans, student loans and home loans as well as strong demand from capital markets partners. Overall, we sold or transferred through our Loan Platform Business, more than $4.1 billion and $7.9 billion in personal loans and home loans during the three and six months ended June 30, 2026, respectively. Continued strong demand from our diverse Loan Platform Business partners has allowed us to meet incremental personal loan demand from our members. Technology Platform segment contribution profit of $11.8 million and $23.8 million for the three and six months ended June 30, 2026, respectively, decreased 65% and 63% over the respective 2025 periods, and total net revenue of $84.5 million and $159.6 million for the three and six months ended June 30, 2026, respectively, decreased 23% and 25% over the respective 2025 periods. Technology Platform total enabled client accounts were 135 million, down from 160 million in the prior year period. These results reflected the exit of a large client that fully transitioned off our platform prior to December 31, 2025. Within our Financial Services segment, contribution profit of $212.7 million and $408.3 million for the three and six months ended June 30, 2026, respectively, increased 13% and 21% compared to the respective 2025 periods. Total net revenue of $466.3 million and $894.8 million for the three and six months ended June 30, 2026, respectively, increased 29% and 34% over the respective 2025 periods. For the second quarter of 2026, net interest income increased 29% year-over-year, to $249.1 million, primarily driven by growth in consumer deposits. In the second quarter of 2026, we generated $140.9 million in loan platform fees, driven by $3.1 billion of personal loans originated on behalf of third parties, as well as referrals. Additionally, our Loan Platform Business generated $2.4 million in servicing cash flow which is recorded in our Lending segment. In total, our Loan Platform Business added $143.3 million to our consolidated adjusted net revenue across these two segments. We also continued to see healthy growth in interchange fee revenue in the second quarter of 2026, up 55% year-over-year, driven by increased spend across Money and Credit Card. Brokerage fee revenue also continues to see strong growth, increasing 140% year-over-year. These results reflect our successful and ongoing efforts to increase fee-based revenue. We achieved continued strong growth in member deposits and strong deposit contribution from direct deposit members, ending the period with $45.5 billion of total deposits as of June 30, 2026, allowing us to maintain access to diversified sources of funding. Total deposit funds grew nearly $5.3 billion during the quarter. We continue to provide our members with access to expanded FDIC insurance coverage through a network of participating banks in our Insured Deposit Program, further enhancing the benefits of our offering to our members. The strength of our results underscores our belief that our suite of differentiated products and services provides the foundation for a diversified business that can endure through market cycles and economic disruptions. For instance, our access to multiple channels of funding, including deposit and loan warehouse funding, provides increased optionality in sourcing liquidity through different environments and periods of capital markets volatility, as well as increases our flexibility to capture additional net interest margin and optimize returns. This typically provides more stable earnings in any macroeconomic environment, but is particularly important during times of macroeconomic volatility. 64 SoFi Technologies, Inc. TABLE OF CONTENTS Non-GAAP Financial Measures This Quarterly Report on Form 10-Q presents information about certain non-GAAP financial measures provided as supplements to the results provided in accordance with GAAP. Our management and Board of Directors use these 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. Accordingly, we believe that these non-GAAP measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors. These non-GAAP measures have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, the analysis of other GAAP financial measures. Other companies may not use these non-GAAP measures or may use similar measures that are defined in a different manner. Therefore, our non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Adjusted Net Revenue 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. We adjust total net revenue to exclude these items, as they are non-cash charges that are not realized during the period or not indicative of our core operating performance, and therefore positive or negative changes do not impact the cash available to fund our operations. Management believes this measure is useful because it enables management and investors to assess our underlying operating performance and cash available to fund our operations. In addition, management uses this measure to better decide on the proper expenses to authorize for each of our operating segments, to ultimately help achieve target contribution profit margins. Total Net Revenue and Adjusted Net Revenue In Thousands The following table reconciles adjusted net revenue to total net revenue, the most directly comparable GAAP measure: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2026 2025 2026 2025 Total net revenue (GAAP) $ 1,218,676 $ 854,944 $ 2,319,044 $ 1,626,703 Servicing rights – change in valuation inputs or assumptions(1) (13,142) 3,274 (26,305) 2,200 Residual interests classified as debt – change in valuation inputs or assumptions(2) 16 12 43 47 Adjusted net revenue (non-GAAP) $ 1,205,550 $ 858,230 $ 2,292,782 $ 1,628,950 ___________________ (1)Reflects changes in fair value inputs and assumptions on servicing rights, including conditional prepayment, default rates and discount rates. These assumptions are highly sensitive to market interest rate changes and are not indicative of our performance or results of operations. Moreover, these non-cash charges are unrealized during the period and, therefore, have no impact on our cash flows from operations. 65 SoFi Technologies, Inc. TABLE OF CONTENTS (2)Reflects changes in fair value inputs and assumptions on residual interests classified as debt, including conditional prepayment, default rates and discount rates. When third parties finance our consolidated securitization VIEs by 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. The following table reconciles adjusted net revenue to total net revenue, the most directly comparable GAAP measure, for the quarterly periods presented: Quarter Ended ($ in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Total net revenue (GAAP) $ 1,218,676 $ 1,100,368 $ 1,025,051 $ 961,600 $ 854,944 Servicing rights – change in valuation inputs or assumptions(1) (13,142) (13,163) (12,224) (11,989) 3,274 Residual interests classified as debt – change in valuation inputs or assumptions(2) 16 27 8 15 12 Adjusted net revenue (non-GAAP) $ 1,205,550 $ 1,087,232 $ 1,012,835 $ 949,626 $ 858,230 ___________________ (1)See footnote (1) to the table above. (2)See footnote (2) to the table above. The following table reconciles adjusted net revenue for the Lending segment to total net revenue for the Lending segment, the most directly comparable GAAP measure: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2026 2025 2026 2025 Total net revenue – Lending (GAAP) $ 724,798 $ 443,512 $ 1,367,218 $ 856,885 Servicing rights – change in valuation inputs or assumptions(1) (13,142) 3,274 (26,305) 2,200 Residual interests classified as debt – change in valuation inputs or assumptions(2) 16 12 43 47 Adjusted net revenue – Lending (non-GAAP) $ 711,672 $ 446,798 $ 1,340,956 $ 859,132 ___________________ (1)See footnote (1) to the table above. (2)See footnote (2) to the table above. Adjusted Contribution Margin and Incremental Adjusted Contribution Margin — Lending Adjusted contribution margin and incremental adjusted contribution margin are non-GAAP measures and relate only to our Lending segment. Adjusted contribution margin is defined as segment contribution profit for the Lending segment, divided by adjusted net revenue for the Lending segment, a non-GAAP measure. Incremental adjusted contribution margin is defined as the change in segment contribution profit for our Lending segment, divided by change in adjusted net revenue for the Lending segment. See ‘Adjusted Net Revenue’ above for a reconciliation of Lending segment adjusted net revenue. Management believes adjusted contribution margin metrics are useful because they enable management and investors to assess the underlying operating performance of our Lending segment, by removing the impact of changes in volume over periods to present a comparable view of segment contribution profit, which is a measure of the direct profitability of each of our reportable segments, as a percentage of segment adjusted net revenue for the Lending segment during each period. 66 SoFi Technologies, Inc. TABLE OF CONTENTS The following table presents a reconciliation of adjusted contribution margin and incremental adjusted contribution margin for our reportable Lending segment: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change 2026 2025 $ Change Lending Contribution profit – Lending (GAAP) $ 399,033 $ 244,710 $ 154,323 $ 781,419 $ 483,645 $ 297,774 Net revenue – Lending (GAAP) 724,798 443,512 281,286 1,367,218 856,885 510,333 Contribution margin – Lending (GAAP)(1) 55 % 55 % 57 % 56 % Incremental contribution margin – Lending (GAAP)(1) 55 % 58 % Adjusted net revenue – Lending (non-GAAP)(2) $ 711,672 $ 446,798 $ 264,874 $ 1,340,956 $ 859,132 $ 481,824 Adjusted contribution margin – Lending (non-GAAP) 56 % 55 % 58 % 56 % Incremental adjusted contribution margin – Lending (non-GAAP) 58 % 62 % ___________________ (1)Contribution margin is defined for each of our reportable segments as contribution profit (loss), divided by net revenue. Incremental contribution margin for each of our reportable segments is defined as the change in segment contribution profit (loss), divided by change in net revenue. (2)Refer to ‘Adjusted Net Revenue’ above for reconciliation of this non-GAAP measure. Adjusted EBITDA, Adjusted EBITDA Margin and Incremental Adjusted EBITDA Margin Adjusted EBITDA, adjusted EBITDA margin and incremental adjusted EBITDA margin are non-GAAP measures. Adjusted EBITDA is defined as net income, 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 direct operating expenses), (ii) income tax expense (benefit), (iii) depreciation and amortization associated with property, equipment and software and intangible assets, (iv) share-based expense (inclusive of equity-based payments to non-employees), (v) foreign currency impacts related to operations in highly inflationary countries, (vi) fair value changes in each of servicing rights and residual interests classified as debt due to valuation assumptions, (vii) restructuring charges, (viii) transaction-related expenses, and (ix) other charges, as appropriate, that are not expected to recur and are not indicative of our core operating performance. Adjusted EBITDA margin is computed as adjusted EBITDA divided by adjusted net revenue. Incremental adjusted EBITDA margin is defined as the change in adjusted EBITDA, divided by change in adjusted net revenue. See ‘Adjusted Net Revenue’ above for a reconciliation of this non-GAAP measure. Management believes adjusted EBITDA, adjusted EBITDA margin and incremental adjusted EBITDA margin are useful measures for period-over-period comparisons of our business. These measures enable management and investors to assess our core operating performance or results of operations by removing the effects of certain non-cash items and charges, as well as the impact of changes in volume over periods as applicable. In addition, management uses these measures to help evaluate cash flows generated from operations and the extent of additional capital, if any, required to invest in strategic initiatives. 67 SoFi Technologies, Inc. TABLE OF CONTENTS Net Income and Adjusted EBITDA In Thousands The following table reconciles adjusted EBITDA to net income, the most directly comparable GAAP measure, and presents the computations of adjusted EBITDA margin and incremental adjusted EBITDA margin: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change 2026 2025 $ Change Net income (GAAP) $ 156,592 $ 97,263 $ 59,329 $ 323,323 $ 168,379 $ 154,944 Non-GAAP adjustments: Interest expense – corporate borrowings(1) 10,675 11,504 (829) 21,326 22,932 (1,606) Income tax expense(2) 47,717 14,929 32,788 80,538 23,595 56,943 Depreciation and amortization 73,106 56,743 16,363 140,684 112,026 28,658 Share-based expense 76,865 63,256 13,609 148,877 127,012 21,865 Foreign currency impact of highly inflationary subsidiaries(3) 926 2,066 (1,140) 1,337 2,342 (1,005) Servicing rights – change in valuation inputs or assumptions(4) (13,142) 3,274 (16,416) (26,305) 2,200 (28,505) Residual interests classified as debt – change in valuation inputs or assumptions(5) 16 12 4 43 47 (4) Restructuring charges(6) 682 36 646 2,642 887 1,755 Transaction-related expense(7) 4,384 — 4,384 5,257 — 5,257 Total adjustments 201,229 151,820 49,409 374,399 291,041 83,358 Adjusted EBITDA (non-GAAP) $ 357,821 $ 249,083 $ 108,738 $ 697,722 $ 459,420 $ 238,302 Total net revenue (GAAP) $ 1,218,676 $ 854,944 $ 363,732 $ 2,319,044 $ 1,626,703 $ 692,341 Net income margin (GAAP) 13 % 11 % 14 % 10 % Incremental net income margin (GAAP) 16 % 22 % Adjusted net revenue (non-GAAP)(8) $ 1,205,550 $ 858,230 $ 347,320 $ 2,292,782 $ 1,628,950 $ 663,832 Adjusted EBITDA margin (non-GAAP) 30 % 29 % 30 % 28 % Incremental adjusted EBITDA margin (non-GAAP) 31 % 36 % ___________________ (1)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 includes interest on our revolving credit facility, as well as interest expense and the amortization of debt discount and debt issuance costs on our convertible notes. (2)The income tax expense recognized in both periods was primarily attributable to the Company’s profitability, partially offset by discrete tax benefits for stock compensation recorded in each quarter. See Note 14. Income Taxes to the Notes to Condensed Consolidated Financial Statements for additional information. 68 SoFi Technologies, Inc. TABLE OF CONTENTS (3)Foreign currency charges reflect the impacts of highly inflationary accounting for our operations in Argentina, which are related to our Technology Platform segment. (4)Reflects changes in fair value inputs and assumptions, including market servicing costs, conditional prepayment, default rates and discount rates. This non-cash change is unrealized during the period and, therefore, has no impact on our cash flows from operations. As such, these positive and negative changes in fair value attributable to assumption changes are adjusted out of net income to provide management and financial users with better visibility into the earnings available to finance our operations. (5)Reflects changes in fair value inputs and assumptions, including conditional prepayment, default rates and discount rates. When third parties finance our consolidated VIEs through purchasing residual interests, we receive proceeds at the time of the securitization close and, thereafter, pass along contractual cash flows to the residual interest owner. These obligations are measured at fair value on a recurring basis, which has 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 income to provide management and financial users with better visibility into the earnings available to finance our operations. (6)Restructuring charges in the 2026 periods included employee-related wages, benefits and severance associated with a small reduction in headcount in our Technology Platform segment, which do not reflect expected future operating expenses and are not indicative of our core operating performance. Restructuring charges in 2025 relate to legal entity restructuring. (7)Transaction-related expenses in 2026 periods primarily included financial advisory and professional services costs associated with our acquisitions of Composer and Peach. (8)Refer to ‘Adjusted Net Revenue’ above for reconciliation of this non-GAAP measure. The following table reconciles adjusted EBITDA to net income, the most directly comparable GAAP measure, for the quarterly periods presented: Quarter Ended ($ in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Net income (GAAP) $ 156,592 $ 166,731 $ 173,549 $ 139,392 $ 97,263 Non-GAAP adjustments: Interest expense – corporate borrowings 10,675 10,651 11,196 11,595 11,504 Income tax expense 47,717 32,821 11,783 9,159 14,929 Depreciation and amortization 73,106 67,578 62,880 59,245 56,743 Share-based expense 76,865 72,012 68,577 66,469 63,256 Foreign currency impact of highly inflationary subsidiaries 926 411 1,808 2,954 2,066 Servicing rights – change in valuation inputs or assumptions (13,142) (13,163) (12,224) (11,989) 3,274 Residual interests classified as debt – change in valuation inputs or assumptions 16 27 8 15 12 Restructuring charges 682 1,960 20 41 36 Transaction-related expense 4,384 873 — — — Total adjustments 201,229 173,170 144,048 137,489 151,820 Adjusted EBITDA (non-GAAP) $ 357,821 $ 339,901 $ 317,597 $ 276,881 $ 249,083 Total net revenue (GAAP) $ 1,218,676 $ 1,100,368 $ 1,025,051 $ 961,600 $ 854,944 Net income margin (GAAP) 13 % 15 % 17 % 14 % 11 % Adjusted net revenue (non-GAAP) $ 1,205,550 $ 1,087,232 $ 1,012,835 $ 949,626 $ 858,230 Adjusted EBITDA margin (non-GAAP) 30 % 31 % 31 % 29 % 29 % Adjusted Net Income, Adjusted Net Income Margin, Incremental Adjusted Net Income Margin and Adjusted EPS Adjusted net income, adjusted net income margin, incremental adjusted net income margin and adjusted diluted earnings per share are non-GAAP measures. Adjusted net income is defined as net income, adjusted to exclude, as applicable, transaction-related expense, restructuring charges, goodwill impairment expense and certain income tax benefits that are not expected to recur and are not indicative of our core operating performance. Adjusted diluted earnings per share (“adjusted EPS”) is a non-GAAP financial measure that adjusts GAAP diluted earnings per share. Adjusted EPS is computed by dividing net income attributable to common stockholders, adjusted to exclude, as applicable, transaction-related expense, restructuring charges, goodwill impairment expense and certain income tax benefits that are not expected to recur and are not indicative of our core operating performance, by the diluted weighted average number of shares of common stock outstanding during the period, excluding the dilutive impact of the 2026 and 2029 convertible notes under the if-converted method for which the 2026 and 2029 capped call transactions, respectively, would deliver cash or shares to offset dilution. The exclusions of transaction-related expense and restructuring charges were effective beginning in the 69 SoFi Technologies, Inc. TABLE OF CONTENTS second quarter of 2026. The impact to prior periods was determined to be immaterial, and therefore prior periods were not recast. Adjusted net income margin is computed as adjusted net income divided by adjusted net revenue. Incremental adjusted net income margin is defined as the change in adjusted net income, divided by change in adjusted net revenue. See ‘Adjusted Net Revenue’ above for a reconciliation of this non-GAAP measure. Management believes adjusted net income, adjusted net income margin, incremental adjusted net income margin and adjusted EPS are useful because they enable management and investors to assess our core operating performance or results of operations, by removing the effects of certain non-cash items and charges to present a comparable view for period over period comparisons of our business. The following table: (i) reconciles adjusted net income to net income, the most directly comparable GAAP measure, (ii) reconciles adjusted EPS to diluted earnings per share, the most directly comparable GAAP measure, and (iii) presents the computations of adjusted net income margin and incremental adjusted net income margin: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ and shares in thousands, except per share amounts)(1) 2026 2025 $ Change 2026 2025 $ Change Net income (GAAP) $ 156,592 $ 97,263 $ 59,329 $ 323,323 $ 168,379 $ 154,944 Non-GAAP adjustments: Restructuring charges 682 — 682 682 — 682 Transaction-related expenses 4,384 — 4,384 4,384 — 4,384 Tax impacts from adjustments (1,252) — (1,252) (1,252) — (1,252) Adjusted net income (non-GAAP) $ 160,406 $ 97,263 $ 63,143 $ 327,137 $ 168,379 $ 158,758 Numerator: Net income attributable to common stockholders – diluted (GAAP)(2) $ 156,645 $ 97,614 $ 323,720 $ 169,069 Non-GAAP adjustments: Restructuring charges 682 — 682 — Transaction-related expenses 4,384 — 4,384 — Tax impacts from adjustments (1,252) — (1,252) — Adjusted net income attributable to common stockholders – diluted (non-GAAP) $ 160,459 $ 97,614 $ 327,534 $ 169,069 Denominator: Weighted average common stock outstanding – diluted (GAAP) 1,351,990 1,182,877 1,364,978 1,184,197 Non-GAAP adjustments: Dilutive impact of convertible notes(3) (27,412) (25,857) (24,722) (28,635) Adjusted weighted average common stock outstanding – diluted (non-GAAP) 1,324,578 1,157,020 1,340,256 1,155,562 Earnings per share – diluted (GAAP)(2) $ 0.12 $ 0.08 $ 0.24 $ 0.14 Impact of adjustments per share — — — 0.01 Adjusted earnings per share – diluted (non-GAAP)(2) $ 0.12 $ 0.08 $ 0.24 $ 0.15 Net income margin (GAAP) 13 % 11 % 14 % 10 % Adjusted net revenue (non-GAAP)(4) $ 1,205,550 $ 858,230 $ 2,292,782 $ 1,628,950 Adjusted net income margin (non-GAAP) 13 % 11 % 14 % 10 % Incremental adjusted net income margin (non-GAAP) 18 % 24 % ____________________ (1)Certain amounts may not recalculate exactly using the rounded amounts provided. Earnings per share is calculated based on unrounded numbers. (2)Diluted earnings per share and diluted net income attributable to common stockholders exclude gain on extinguishment of debt, net of tax, as well as interest expense incurred, net of tax, associated with convertible note activity during the period as evaluated under the if-converted method. 70 SoFi Technologies, Inc. TABLE OF CONTENTS (3)This non-GAAP adjustment excludes the dilutive impact of the 2026 and 2029 convertible notes, to the extent that the 2026 and 2029 capped call transactions, respectively, would deliver cash or shares to offset dilution. (4)Refer to 'Adjusted Net Revenue' above for reconciliation of this non-GAAP measure. Key Business Metrics The table below presents the key business metrics that management uses to evaluate our business, measure our performance, identify trends and make strategic decisions: June 30, 2026 June 30, 2025 Variance % Change Members 15,814,418 11,745,572 4,068,846 35 % Total Products 24,380,974 17,142,041 7,238,933 42 % Total Products — Lending segment 3,093,359 2,280,368 812,991 36 % Total Products — Financial Services segment 21,287,615 14,861,673 6,425,942 43 % Total Accounts — Technology Platform segment 134,804,238 160,046,369 (25,242,131) (16) % See “Summary Results by Segment” for additional metrics we review at the segment level. Members We refer to our customers as “members”. 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 access to our CFPs, our member events, our content, educational material, news, and our tools and calculators, which are provided at no cost to the member. Additionally, our mobile application and website have a member home experience that is personalized and delivers content to a member about what they must do that day in their financial life, what they should consider doing that day in their financial life, and what they can do that day in their financial life. Once someone becomes a member, they are always considered a member unless they are removed in accordance with our terms of service, in which case, we adjust our total number of members. 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. We view members as an indication not only of the size and a measurement of growth of our business, but also as a measure of the significant value of the data we have collected over time. The data we collect from our members helps us to, among other things: (i) assess loan life performance data on each loan in our ecosystem, which can inform risk-based interest rates that we can offer our members, (ii) understand our members’ spending behavior to identify and suggest other products we offer that may align with the members’ financial needs, and (iii) enhance our opportunities to sell additional products to our members, as our members represent a vital source of marketing opportunities. When we provide additional products to members, it helps improve our unit economics per member, as we save on marketing costs that we would otherwise incur to attract new members. It also increases the lifetime value of an individual member. This in turn enhances our Financial Services Productivity Loop. Member growth is generally an indicator of future revenue, but is not directly correlated with revenues, since not all members who sign up for one of our products fully utilize or continue to use our products, and not all of our products (such as our complimentary product, SoFi Relay) provide direct sources of revenue. Since our inception through June 30, 2026, we have served approximately 15.8 million members who have used approximately 24.4 million products on the SoFi platform. 71 SoFi Technologies, Inc. TABLE OF CONTENTS Members In Thousands Total Products 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. Total products is a primary indicator of the size and reach of our Lending and Financial Services segments. Management relies on total products metrics to understand the effectiveness of our member acquisition efforts and to gauge the propensity for members to use more than one product. 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, inclusive of loans which we originate as part of our Loan Platform Business, 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. The account of a co-borrower or co-signer is not considered a separate lending product. 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 Smart Card accounts and 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, SoFi Relay accounts (with either credit score monitoring enabled or external linked accounts), and SoFi Crypto accounts that have been opened through our platform through the reporting date, as well as active SoFi Plus subscriptions as of the reporting date. Checking and savings accounts are considered one account within our total products metric. Our SoFi Invest service is composed of four products: IRA self-directed accounts, taxable self-directed accounts, IRA robo-advisory accounts, and taxable robo-advisory accounts. Our members can select any one or combination of the SoFi Invest products. If a member has multiple SoFi Invest accounts of the same products, such as one IRA self-directed account and one IRA robo-advisory account (or one tax-advantaged brokerage account and one taxable brokerage account), those are considered separate products. The account of a joint- or co-account holder is considered a separate financial services product. In the event a member is removed in accordance with our terms of service, as discussed under “Members” above, the member’s associated products are also removed. Product growth is generally an indicator of future revenue, but is generally not directly correlated with revenues, since not all members who sign up for one of our products immediately or fully utilize or continue to use our products, and not all of our products (such as our complimentary product, SoFi Relay) provide direct sources of revenue. Further, product growth may not directly correlate with expense growth as a result of the effects of the Financial Services Productivity Loop. See “ Consolidated Results of Operations” and “Summary Results by Segment” for discussion and analysis of operating results. 72 SoFi Technologies, Inc. TABLE OF CONTENTS Products In Thousands Total lending products were composed of the following: Lending Products June 30, 2026 June 30, 2025 Variance % Change Personal loans(1) 2,325,262 1,641,340 683,922 42 % Student loans 703,081 596,351 106,730 18 % Home loans 65,016 42,677 22,339 52 % Total lending products 3,093,359 2,280,368 812,991 36 % ___________________ (1)Includes loans which we originate as part of our Loan Platform Business. Total financial services products were composed of the following: Financial Services Products June 30, 2026 June 30, 2025 Variance % Change Money(1) 7,888,387 5,887,669 2,000,718 34 % Invest(2) 3,931,718 2,853,416 1,078,302 38 % Credit Card(3) 509,825 344,469 165,356 48 % Referred loans(4) 180,443 122,580 57,863 47 % Crypto(5) 388,336 — 388,336 n/m SoFi Plus(3) 206,000 — 206,000 n/m At Work 189,078 127,224 61,854 49 % Relay 7,993,828 5,526,315 2,467,513 45 % Total financial services products 21,287,615 14,861,673 6,425,942 43 % ___________________ (1)Includes checking and savings accounts held at SoFi Bank, and cash management accounts. (2)Beginning in the first quarter of 2026, we updated our SoFi Invest product metric to reflect four products. Prior to this, our SoFi Invest service was composed of two products, self-directed accounts and robo-advisory accounts. Self-directed accounts were previously referred to as active investing accounts. The impact to prior periods was determined to be immaterial, and prior periods were not recast. (3)Beginning in the second quarter of 2026, we updated our Financial Services products to include (i) SoFi Plus, which we relaunched during the quarter with significantly enhanced benefits, while fully transitioning the product to a paid subscription model; and (ii) Smart Card, our recently launched secured card (presented above within Credit Card). The impact to prior periods was determined to be immaterial, and prior periods were not recast. (4)Limited to loans wherein we provide third party fulfillment services as part of our Loan Platform Business. (5)During the fourth quarter of 2025, we returned to crypto investing with the launch of SoFi Crypto. Technology Platform Total Accounts In our Technology Platform segment, total accounts refers to the number of open accounts at Galileo as of the reporting date. We include intercompany accounts on the Galileo platform as a service in our total accounts metric to better align with the Technology Platform segment revenue reported in Note 17. Business Segment Information to the Notes to Condensed Consolidated Financial Statements, which includes intercompany revenue. Intercompany revenue is eliminated in 73 SoFi Technologies, Inc. TABLE OF CONTENTS consolidation. Total accounts is a primary indicator of the accounts dependent upon our technology platform to use virtual card products, virtual wallets, make peer-to-peer and bank-to-bank transfers, receive early paychecks, separate savings from spending balances, make debit transactions and rely upon real-time authorizations, all of which result in revenues for the Technology Platform segment. We do not measure total accounts for other products and solutions for which the revenue model is not primarily dependent upon being a fully integrated, stand-ready service. Technology Platform Accounts In Millions June 30, 2026 June 30, 2025 Variance % Change Total accounts(1) 134,804,238 160,046,369 (25,242,131) (16) % ___________________ (1)Includes the impact from a large client which fully transitioned off the platform prior to December 31, 2025. Key Factors Affecting Operating Results Our future operating results and cash flows are dependent upon a number of opportunities, challenges and other factors, including our loan origination volume, financial services products and member activity on our platform, growth in technology platform clients, competition and industry trends, general economic conditions and our ability to optimize our national bank charter. The key factors affecting our operating results are discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, with notable updates provided herein. Industry Trends and General Economic Conditions The U.S. economic environment continues to be influenced by evolving monetary policy, inflation trends, labor market conditions and broader geopolitical developments. While inflation has moderated from peak levels, uncertainty regarding its future path remains elevated, particularly as fluctuations in global energy prices, supply chain dynamics and trade policy continue to influence inflation expectations. Geopolitical developments, including ongoing conflict and changing prospects for peace in the Middle East, have contributed to volatility in oil prices and broader financial markets. Sustained increases in energy prices or renewed inflationary pressures could adversely affect consumer purchasing power, economic growth and financial market conditions. In May 2026, Kevin Warsh became Chair of the Federal Reserve and has emphasized a data-driven approach to monetary policy, indicating that future policy decisions will depend on incoming economic data. While the direction and timing of future interest rate changes remain uncertain, the Federal Reserve has continued to emphasize its commitment to restoring price stability while balancing broader economic conditions. As a result, expectations regarding monetary policy have remained subject to changing inflation, employment and economic data, contributing to continued volatility in benchmark interest rates, credit spreads and capital markets. Changes in interest rates and broader macroeconomic conditions directly influence consumer spending, saving, borrowing and investing behavior. Elevated interest rates have reduced demand for refinancing products and may continue to affect demand across certain lending products. Interest rate volatility also influences the economics of our capital markets activities, including loan pricing, funding costs, gain-on-sale margins and investor demand for consumer credit assets. In 74 SoFi Technologies, Inc. TABLE OF CONTENTS addition, changes in benchmark interest rates, inflation expectations and credit spreads may affect the pricing, execution and liquidity of loan sales and securitization transactions. Our results of operations have historically demonstrated relative resilience during periods of economic stress, supported by our diversified business model. However, our future operating results and cash flows remain dependent upon the strength of the overall economy, consumer financial health, the condition and liquidity of the capital markets and our ability to continue executing our business strategy. We have continued to experience strong demand for our deposit products, driven in part by competitive interest rates and access to expanded FDIC insurance coverage through our Insured Deposit Program. Our credit trends continued to be strong through the first half of 2026 after seeing delinquencies peak over two years ago in the first quarter of 2024. Annualized charge-off rates decreased year-over-year across our portfolios, reflecting improvements in overall credit quality. These trends, together with the macroeconomic and geopolitical factors described above, may impact demand for our products, our cost structure, and our liquidity, results of operations, and financial condition. Fair Value of Loans We measure our personal loans, student loans and home loans at fair value. Our fair value adjustments on loans impact our consolidated results of operations and include adjustments related to loans originated during the period, loans held at the balance sheet date, as well as gains (losses) on loans sold or repurchased during the period. Fair value adjustments made in each reporting period are impacted by factors such as, among others, interest rates, weighted average coupon, credit spreads, actual and estimated losses, prepayment speeds, duration and previous loan sale execution on similar loans. In determining our fair value assumptions, we incorporate recent data impacting the capital markets, as well as factors specific to us. Changes in these factors, either positive or negative, can have a material impact on our results of operations. The following table summarizes the significant inputs to the fair value model for personal and student loans: Personal Loans Student Loans June 30, 2026 March 31, 2026 June 30, 2026 March 31, 2026 Weighted average coupon rate(1) 12.89 % 12.96 % 5.89 % 5.91 % Weighted average annual default rate 4.77 % 4.57 % 0.73 % 0.69 % Weighted average conditional prepayment rate 25.77 % 25.55 % 10.99 % 11.15 % Weighted average discount rate 4.97 % 4.61 % 4.29 % 4.05 % ___________________ (1)Represents the average coupon rate on loans held on balance sheet, weighted by unpaid principal balance outstanding at the balance sheet date. As of the second quarter of 2026 relative to the first quarter of 2026, we observed the following trends: •Personal loan marks were down from the prior quarter, driven by an increase in the weighted average discount rate which was due to a higher benchmark rate, as well as a modest decline in weighted average coupon rate and modest increases in the weighted average annual default rate assumption and weighted average prepayment rate. •The personal loan annualized charge-off rate decreased to 2.62% from 3.03% in the prior quarter, including the impact of asset sales, new originations and delinquency sales in the quarter. This was a reflection of our members as well as strong growth in personal loans. •Student loan marks were down from the prior quarter, driven by an increase in the weighted average discount rate due to a higher benchmark rate, and was partially offset by a modest decrease in the weighted average prepayment rate. The weighted average coupon rate and weighted average default rate assumptions remained relatively consistent with the first quarter. •The student loan annualized charge-off rate decreased to 61 basis points from 65 basis points in the prior quarter, driven by continued strong credit quality. The combination of these and other factors, including in period originations, resulted in fair value losses recognized on our personal and student loans portfolios, respectively, during the second quarter of 2026. Student Lending Changes in demand and loan volume for our student loan refinancing product and our in-school student loans could be affected by a variety of factors affecting students, schools, and the overall economy, including the overall interest rate 75 SoFi Technologies, Inc. TABLE OF CONTENTS environment, employment market, school tuition and admissions, executive actions by the U.S. presidential administration related to federal student loans, how competitive our student loan products are compared to our competitors and other macroeconomic factors. Changes in law, regulations or governmental policies related to federal or private student loans could materially impact demand for our student loan products and our business in ways that are difficult to predict. For example, in the past, the government has provided relief measures for federal student loan borrowers, including, among others, a federal student loan payment moratorium and debt forgiveness measures. The manner in which federal loans require repayment and federal loan servicers implement such policies can be expected to affect demand for SoFi student loan refinancing. Additionally, in July 2025, the One Big Beautiful Bill Act (Pub. L. No. 119-21) (“OBBB”) was signed into law, which included provisions to eliminate federal Grad PLUS loans, impose lower borrowing limits and restrictions on Parent PLUS loans, starting in July 2026, and establish new repayment assistance plans. We expect these changes could lead to changes in demand for SoFi’s student loan products. All such outcomes are highly uncertain and depend on additional factors not specified here. Consolidated Results of Operations The following table sets forth selected consolidated statements of income data: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Net interest income $ 788,195 $ 517,837 $ 270,358 52 % $ 1,481,183 $ 1,016,563 $ 464,620 46 % Total noninterest income 430,481 337,107 93,374 28 % 837,861 610,140 227,721 37 % Total net revenue 1,218,676 854,944 363,732 43 % 2,319,044 1,626,703 692,341 43 % Provision for credit losses 13,755 10,035 3,720 37 % 22,650 15,713 6,937 44 % Total noninterest expense 1,000,612 732,717 267,895 37 % 1,892,533 1,419,016 473,517 33 % Income before income taxes 204,309 112,192 92,117 82 % 403,861 191,974 211,887 110 % Income tax expense (47,717) (14,929) (32,788) 220 % (80,538) (23,595) (56,943) 241 % Net income $ 156,592 $ 97,263 $ 59,329 61 % $ 323,323 $ 168,379 $ 154,944 92 % Net Interest Income The table below presents average balance and interest information for each major category of interest-earning assets and interest-bearing liabilities, along with net interest income and net interest margin. The table also presents period-over period changes in net interest income and the extent to which the variances are attributable to changes in the volume of our interest-earning assets and interest-bearing liabilities or changes in the interest rates related to these assets and liabilities. 76 SoFi Technologies, Inc. TABLE OF CONTENTS Average Balances and Net Interest Earnings Analysis Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Change due to(1) ($ in thousands) Average Balances(1) Interest Income/Expense Average Yield/Rate Average Balances(1) Interest Income/Expense Average Yield/Rate Volume Rate Total Assets Interest-earning assets: Interest-bearing deposits with banks $ 3,790,852 $ 32,430 3.43 % $ 2,811,423 $ 25,086 3.58 % $ 8,380 $ (1,036) $ 7,344 Investment securities 3,688,523 42,129 4.58 2,277,616 29,878 5.26 16,114 (3,863) 12,251 Loans(2) 45,380,080 1,065,969 9.42 30,331,237 737,441 9.75 353,493 (24,965) 328,528 Total interest-earning assets 52,859,455 1,140,528 8.65 35,420,276 792,405 8.97 377,987 (29,864) 348,123 Total noninterest-earning assets 4,376,513 3,944,524 Total assets $ 57,235,968 $ 39,364,800 Liabilities and Equity Interest-bearing liabilities: Demand deposits $ 3,644,040 $ 10,336 1.14 % $ 2,063,657 $ 2,696 0.52 % $ 4,482 $ 3,158 $ 7,640 Savings deposits 36,059,867 289,065 3.22 25,264,749 226,394 3.59 86,538 (23,867) 62,671 Time deposits 2,212,570 21,062 3.82 487,916 4,142 3.40 16,417 503 16,920 Total interest-bearing deposits 41,916,477 320,463 3.07 27,816,322 233,232 3.36 107,437 (20,206) 87,231 Warehouse facilities 1,475,784 17,039 4.63 2,137,160 27,874 5.23 (7,637) (3,198) (10,835) Securitization debt 49,800 529 4.26 62,432 554 3.56 (137) 112 (25) Other debt(3) 1,979,602 14,302 2.90 1,757,224 12,908 2.95 1,607 (213) 1,394 Total debt 3,505,186 31,870 3.65 3,956,816 41,336 4.19 (6,167) (3,299) (9,466) Residual interests classified as debt 518 — — 561 — — — — — Total interest-bearing liabilities 45,422,181 352,333 3.11 31,773,699 274,568 3.47 101,270 (23,505) 77,765 Total noninterest-bearing liabilities 1,181,640 919,349 Total liabilities 46,603,821 32,693,048 Total equity 10,632,147 6,671,752 Total liabilities and equity $ 57,235,968 $ 39,364,800 Net interest income(4) $ 788,195 $ 517,837 $ 276,717 $ (6,359) $ 270,358 Net interest margin(5) 5.98 % 5.86 % 77 SoFi Technologies, Inc. TABLE OF CONTENTS Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 Change due to(1) ($ in thousands) Average Balances(2) Interest Income/Expense Average Yield/Rate Average Balances(2) Interest Income/Expense Average Yield/Rate Volume Rate Total Assets Interest-earning assets: Interest-bearing deposits with banks $ 4,139,321 $ 70,179 3.42 % $ 2,751,678 $ 51,073 3.74 % $ 23,527 $ (4,421) $ 19,106 Investment securities 3,208,207 74,869 4.71 2,153,794 56,222 5.26 24,606 (5,959) 18,647 Loans 42,916,601 1,996,476 9.38 29,608,981 1,448,922 9.87 619,069 (71,515) 547,554 Total interest-earning assets 50,264,129 2,141,524 8.59 34,514,453 1,556,217 9.09 667,202 (81,895) 585,307 Total noninterest-earning assets 4,354,094 3,902,786 Total assets $ 54,618,223 $ 38,417,239 Liabilities and Equity Interest-bearing liabilities: Demand deposits $ 3,528,845 $ 18,731 1.07 % $ 1,964,252 $ 5,067 0.52 % $ 8,304 $ 5,360 $ 13,664 Savings deposits 34,709,922 557,367 3.24 24,484,120 443,065 3.65 164,205 (49,903) 114,302 Time deposits 1,613,710 31,593 3.95 557,151 10,499 3.80 20,684 410 21,094 Total interest-bearing deposits 39,852,477 607,691 3.07 27,005,523 458,631 3.42 193,193 (44,133) 149,060 Warehouse facilities 1,103,425 25,338 4.63 2,063,312 54,264 5.30 (22,042) (6,884) (28,926) Securitization debt 51,423 918 3.60 68,034 1,135 3.36 (298) 81 (217) Other debt(3) 1,871,195 26,394 2.84 1,756,459 25,624 2.94 1,672 (902) 770 Total debt 3,026,043 52,650 3.51 3,887,805 81,023 4.20 (20,668) (7,705) (28,373) Residual interests classified as debt 514 — — 568 — — — — — Total interest-bearing liabilities 42,879,034 660,341 3.11 30,893,896 539,654 3.52 172,525 (51,838) 120,687 Total noninterest-bearing liabilities 1,200,999 885,613 Total liabilities 44,080,033 31,779,509 Total equity 10,538,190 6,637,730 Total liabilities and equity $ 54,618,223 $ 38,417,239 Net interest income(4) $ 1,481,183 $ 1,016,563 $ 494,677 $ (30,057) $ 464,620 Net interest margin(5) 5.94 % 5.94 % __________________ (1)We calculate the changes in interest income and interest expense separately for each item. Volume and rate changes have been allocated on a consistent basis using the respective percentage changes in average balances and average rates. (2)Average balances were calculated on daily carrying balances. (3)Interest expense on other debt primarily includes debt issuance and discount expense, as well as interest expense on the revolving credit facility and convertible senior notes. (4)Net interest income is calculated as the excess of total interest income on interest-earning assets over total interest expense on interest-bearing liabilities. (5)Net interest margin is calculated as net interest income divided by total average interest-earning assets. Three Months. For the three months ended June 30, 2026 compared to the three months ended June 30, 2025, net interest income increased by $270.4 million, or 52%, and net interest margin increased by 12 bps. Average interest-earning assets increased by 49%, and average yields decreased by 32 bps, while average interest-bearing liabilities increased by 43% and the average cost of interest-bearing liabilities decreased by 36 bps. The $270.4 million increase in net interest income was primarily driven by (i) higher interest income on loans of $328.5 million, which was primarily a function of an increase in origination volume for our balance sheet, (ii) higher interest income from investment securities of $12.3 million primarily attributable to an increase in average balances, (iii) lower interest expense on warehouse facilities of $10.8 million as we continued to rely less on our warehouse facilities for our funding needs, and (iv) higher interest income from interest-bearing deposits with banks of $7.3 million driven by an increase in average deposits. These items were partially offset by higher interest expense on interest-bearing deposits of $87.2 million resulting from the net impact of higher interest-bearing deposit balances partially offset by lower rates on savings deposits. Six Months. For the six months ended June 30, 2026 compared to the six months ended June 30, 2025, net interest income increased by $464.6 million, or 46%, while net interest margin was flat. Average interest-earning assets increased by 46%, and average yields decreased by 50 bps, while average interest-bearing liabilities increased by 39% and the average cost of interest-bearing liabilities decreased by 41 bps. The $464.6 million increase in net interest income was primarily driven by (i) higher interest income on loans of $547.6 million, which was primarily a function of an increase in origination volume for our balance sheet, (ii) lower interest 78 SoFi Technologies, Inc. TABLE OF CONTENTS expense on warehouse facilities of $28.9 million as we continued to rely less on our warehouse facilities for our funding needs, (iii) higher interest income from interest-bearing deposits with banks of $19.1 million driven by an increase in average deposits, and (iv) higher interest income from investment securities of $18.6 million primarily attributable to higher average balances. These items were partially offset by higher interest expense on interest-bearing deposits of $149.1 million resulting from the net impact of higher interest-bearing deposit balances partially offset by lower rates on savings deposits. Noninterest Income The following table presents the components of our total noninterest income: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Loan origination, sales, securitizations and servicing $ 150,407 $ 70,855 $ 79,552 112 % $ 292,616 $ 123,660 $ 168,956 137 % Technology products and solutions 52,459 90,796 (38,337) (42) % 101,810 177,233 (75,423) (43) % Loan platform fees 140,930 127,405 13,525 11 % 279,185 220,155 59,030 27 % Net crypto transaction revenue 1,183 — 1,183 n/m 2,035 — 2,035 n/m Other 85,502 48,051 37,451 78 % 162,215 89,092 73,123 82 % Total noninterest income $ 430,481 $ 337,107 $ 93,374 28 % $ 837,861 $ 610,140 $ 227,721 37 % Total noninterest income increased by $93.4 million, or 28%, and $227.7 million, or 37%, for the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025. Loan Origination, Sales, Securitizations and Servicing Three Months. The increase in loan origination, sales, securitizations and servicing of $79.6 million, or 112%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025 was primarily driven by (i) gains during the 2026 period compared to losses in the 2025 period on interest rate swap positions primarily related to personal loans and student loans reflecting hedging benefits as rates shifted during the period, ($294.9 million), (ii) higher origination fees ($77.7 million) primarily driven by increased originations compared to the year ago quarter , and (iii) net fair value gains on home loans ($8.9 million) primarily impacted by increased home loan origination volume. These increases were partially offset by (i) net fair value losses on personal loans and student loans driven by weighted average mark decreases ($281.2 million) and (ii) net higher loan write-offs ($41.4 million) driven by balance sheet growth. Six Months. The increase in loan origination, sales, securitizations and servicing of $169.0 million, or 137%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 was primarily driven by (i) gains during the 2026 period compared losses in the 2025 period on interest rate swap positions primarily related to personal loans and student loans reflecting hedging benefits as rates shifted during the period ($577.6 million), (ii) higher origination fees ($114.0 million) primarily driven by increased originations compared to the year ago quarter , and (iii) net fair value gains on home loans ($20.5 million) primarily impacted by increased home loan origination volume. These increases were partially offset by (i) net fair value losses on personal loans and student loans driven by weighted average mark decreases ($504.8 million) and (ii) net higher loan write-offs ($74.4 million) driven by balance sheet growth. Technology Products and Solutions Three Months. Technology products and solutions decreased by $38.3 million, or 42%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. These results reflected the exit of a large client who fully transitioned off our platform in 2025. Six Months. Technology products and solutions decreased by $75.4 million, or 43%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. These results reflected the exit of a large client who fully transitioned off our platform in 2025. 79 SoFi Technologies, Inc. TABLE OF CONTENTS Loan Platform Fees and Related Servicing Three Months. Loan platform fees and related servicing increased by $12.7 million, or 10%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This was driven by an increase of $639.2 million of Loan Platform Business originations. Six Months. Loan platform fees and related servicing increased by $57.4 million, or 25%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. This was driven by an increase of $2.0 billion of Loan Platform Business originations. The following table presents the components of noninterest income associated with our Loan Platform Business: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Loan platform fees(1) $ 140,930 $ 127,405 $ 13,525 11 % $ 279,185 $ 220,155 $ 59,030 27 % Servicing(2) 2,379 3,180 (801) (25) % 4,936 6,526 (1,590) (24) % Loan platform fees and servicing, total noninterest income $ 143,309 $ 130,585 $ 12,724 10 % $ 284,121 $ 226,681 $ 57,440 25 % ___________________ (1)Recorded within noninterest income—loan platform fees in the condensed consolidated statements of operations and comprehensive income, and the Financial Services reportable segment. (2)Recorded within noninterest income—loan origination, sales, securitizations and servicing in the condensed consolidated statements of operations and comprehensive income, and the Lending reportable segment. Amounts reflect revenue from our servicing agreements on loans which we did not originate, excluding the impacts of changes in fair value inputs and assumptions on related servicing rights as they were immaterial for all periods presented. Net crypto transaction revenue Three Months. Net crypto revenue was $1.2 million for the three months ended June 30, 2026, driven by the launch of SoFi Crypto in the fourth quarter of 2025. Six Months. Net crypto revenue was $2.0 million for the six months ended June 30, 2026, driven by the launch of SoFi Crypto in the fourth quarter of 2025. Other Three Months. Other noninterest income increased by $37.5 million, or 78%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The increase was driven by higher interchange income as a result increased spending volumes across SoFi Money and Credit Card, higher brokerage income reflecting growing engagement and higher monetization and SoFi Plus subscription revenue. Six Months. Other noninterest income increased by $73.1 million, or 82%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. The increase was driven by higher interchange income as a result increased spending volumes across SoFi Money and Credit Card and higher brokerage income reflecting growing engagement and higher monetization. Provision for Credit Losses Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Credit card $ 13,708 $ 9,901 $ 3,807 38 % $ 22,214 $ 15,720 $ 6,494 41 % Commercial and consumer banking 47 134 (87) (65) % 436 (7) 443 n/m Total $ 13,755 $ 10,035 $ 3,720 37 % $ 22,650 $ 15,713 $ 6,937 44 % Three months. The provision for credit losses was $13.8 million for the three months ended June 30, 2026, reflecting net charge-offs of $9.2 million and an allowance increase of $4.5 million. Net charge-offs of $9.2 million increased $2.7 million compared to the three months ended June 30, 2025, driven by higher average credit card balances. The allowance increase of $4.5 million primarily reflected growth in the credit card portfolio balances, partially offset by continued strength in credit quality of the portfolio. 80 SoFi Technologies, Inc. TABLE OF CONTENTS The prior year provision for the three months ended June 30, 2025 was $10.0 million, reflecting net charge-offs of $6.6 million and an allowance increase of $3.5 million. Six Months. The provision for credit losses was $22.7 million for the six months ended June 30, 2026, reflecting net charge-offs of $17.1 million and an allowance increase of $5.5 million. Net charge-offs of $17.1 million increased $2.6 million compared to the six months ended June 30, 2025, driven by higher average credit card balances. The allowance increase of $5.5 million primarily reflected growth in the credit card portfolio balances, partially offset by continued strength in credit quality of the portfolio. The prior year provision for the six months ended June 30, 2025 was $15.7 million, reflecting net charge-offs of $14.6 million and an allowance increase of $1.2 million. Refer to “Analysis of Charge-offs” for a further discussion of the factors driving changes in net charge-offs and the allowance. Analysis of Allowance for Credit Losses Allowance for Credit Losses Ratios The following table presents the ratio of allowance for credit losses to total loans outstanding that are measured at amortized cost: ($ in thousands) June 30, 2026 June 30, 2025 Allowance for credit losses to total loans outstanding Allowance for credit losses $ 56,459 $ 47,838 Total loans held for investment, at amortized cost outstanding(1) 1,316,592 1,449,056 Ratio(2) 4.29 % 3.30 % __________________ (1)Total loans outstanding excludes accrued interest. (2)The increase in the ratio was primarily attributable to a decrease of $272.9 million in secured loans. We omitted the credit ratios associated with nonaccrual loans, as the balance of nonaccrual loans was immaterial. Allocation of Allowance for Credit Losses The following table presents the allocation of the allowance for credit losses and the percentage of loans outstanding by category to total loans outstanding that are measured at amortized cost: June 30, 2026 June 30, 2025 ($ in thousands) Allowance for credit losses Percent of loans to total loans(1) Allowance for credit losses Percent of loans to total loans(1) Credit card $ 54,560 40 % $ 45,515 28 % Commercial and consumer banking 1,899 13 % 2,323 11 % Secured loans(2) — 47 % — 61 % Total $ 56,459 100 % $ 47,838 100 % __________________ (1)Loans outstanding balances used in the calculation exclude accrued interest. (2)Secured loans are term loan arrangements secured by underlying loans (collateral) owned by the debtor. The underlying loans were previously originated by us and were subject to our underwriting process and risk models, prior to being sold to the debtor and in most instances these loans continue to be serviced by us. We evaluate the credit quality of our secured loan portfolio relative to the fair value of the underlying collateral, reassessing it quarterly based on relevant information, including funded loan rates and historical loss experience. An allowance for credit losses is required when there is an expected credit loss after considering the fair value of the collateral as well as any anticipated future changes in the underlying collateral. As of June 30, 2026, based on this evaluation we did not recognize an allowance for credit losses on our secured loans. 81 SoFi Technologies, Inc. TABLE OF CONTENTS Analysis of Charge-offs The following tables present information regarding average loans outstanding, net charge-offs and the annualized ratio of net charge-offs to average loans outstanding: Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 ($ in thousands) Average Loans(1) Net Charge-offs(2)(3)(4) Ratio(4)(5) Average Loans(1) Net Charge-offs(2)(3)(4) Ratio(4)(5) Personal loans $ 26,183,468 $ 171,015 2.62 % $ 18,414,581 $ 129,970 2.83 % Student loans 15,971,158 24,266 0.61 % 10,107,155 23,747 0.94 % Home loans 1,886,768 — — % 540,994 — — % Secured loans 674,915 — — % 770,154 — — % Credit card 483,283 9,212 7.65 % 342,051 6,565 7.70 % Commercial and consumer banking 180,488 18 0.04 % 156,302 1 — % Total loans $ 45,380,080 $ 204,511 1.81 % $ 30,331,237 $ 160,283 2.12 % Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 ($ in thousands) Average Loans(1) Net Charge-offs(2)(3)(4) Ratio(4)(5) Average Loans(1) Net Charge-offs(2)(3)(4) Ratio(4)(5) Personal loans $ 24,667,205 $ 341,836 2.79 % $ 18,345,733 $ 280,044 3.08 % Student loans 15,211,161 47,185 0.63 % 9,579,563 34,344 0.72 % Home loans 1,646,192 — — % 447,541 — — % Secured loans 739,993 — — % 762,819 — — % Credit card 473,699 16,859 7.18 % 318,436 14,555 9.22 % Commercial and consumer banking 178,351 266 0.31 % 154,889 4 0.01 % Total loans $ 42,916,601 $ 406,146 1.91 % $ 29,608,981 $ 328,947 2.24 % ___________________ (1)Average balances were calculated on daily carrying balances. (2)Net charge-offs include both credit- and certain non-credit-related charge-offs. Non-credit related charge-offs, which primarily relate to alleged or potential fraud, occur occasionally in our business and are impacted by factors different from our credit related charge-offs. Non-credit related charge-offs were immaterial for all periods presented. (3)Net charge-offs related to personal, student and home loans are generally recorded in noninterest income—loan origination, sales, securitizations and servicing as part of the respective loans total change in fair value. Net charge-offs related to credit card and commercial and consumer banking are considered as part of the allowance for credit losses and provision for credit losses. (4)Excludes the impact of delinquent personal loan sales during the quarter. These loans were sold prior to charge-off during each respective quarter and otherwise would have been charged off as of the quarter-end consistent with our policy. See Note 4. Loans to the Notes to Condensed Consolidated Financial Statements for additional information. (5)Net charge-off ratio is calculated as net charge-offs divided by average loans. For the three months ended June 30, 2026, the total net charge-off ratio was 1.81%, a decrease of 31 bps compared with the three months ended June 30, 2025, and total net charge-offs were $204.5 million, an increase of $44.2 million over the comparable period. The decrease in the total net charge-off ratio was primarily due a lower student loan charge-off ratio primarily driven by the repurchase of seasoned loans during 2025 that had a higher charge-off rate as well as higher average student loan balances. Additionally, a lower personal loan charge-off ratio contributed to the decrease, reflecting higher average personal loan balances and steady delinquency rates compared to the year ago period (total personal loan delinquency rate was 40 bps, down approximately 2 bps from the comparative period). The increase in total net charge-offs was $44.2 million, driven by higher personal loan net charge-offs of $41.0 million primarily reflecting an increase in average loans. For the six months ended June 30, 2026, the total net charge-off ratio was 1.91%, a decrease of 33 bps compared with the six months ended June 30, 2025, and total net charge-offs were $406.1 million, an increase of $77.2 million over the comparable period. The decrease in the total net charge-off ratio was primarily due a lower credit card net charge-off ratio reflective of higher average credit card loan balances. Additionally, a lower personal loan charge-off ratio contributed to the decrease, reflecting higher average personal loan balances and steady delinquency rates compared to the year ago period (total personal loan delinquency rate was 40 bps, down approximately 2 bps from the comparative period). The student loan charge-off ratio also decreased primarily driven by the repurchase of seasoned loans during 2025 that had a higher charge-off rate as well as higher average student loan balances. The increase in total net charge-offs was $77.2 million, driven by higher personal loan net charge-offs of $61.8 million and student loan net charge-offs of $12.8 million, primarily reflecting an increase in average loans. 82 SoFi Technologies, Inc. TABLE OF CONTENTS Noninterest Expense The following table presents the components of our total noninterest expense: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Technology and product development $ 191,276 $ 152,146 $ 39,130 26 % $ 378,951 $ 308,352 $ 70,599 23 % Sales and marketing 392,397 264,744 127,653 48 % 727,936 502,920 225,016 45 % Cost of operations 200,139 150,437 49,702 33 % 371,262 285,957 85,305 30 % General and administrative 216,800 165,390 51,410 31 % 414,384 321,787 92,597 29 % Total noninterest expense $ 1,000,612 $ 732,717 $ 267,895 37 % $ 1,892,533 $ 1,419,016 $ 473,517 33 % Total noninterest expense increased by $267.9 million, or 37%, and $473.5 million, or 33%, for the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, as described below. Technology and product development Three Months. Technology and product development expenses increased by $39.1 million, or 26%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The increase was primarily driven by higher employee compensation and benefits attributable to increases in headcount and salary to support our growth, amortization of internally-developed software and tools and subscription expense reflective of continued investments in technology. Six Months. Technology and product development expenses increased by $70.6 million, or 23%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. The increase was primarily driven by higher employee compensation and benefits attributable to increases in headcount and salary to support our growth, and amortization of internally-developed software, tools and subscription expense reflective of continued investments in technology, and professional services expense. Sales and marketing Three Months. Sales and marketing expenses increased by $127.7 million, or 48%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The increase was driven by increases in lead generation costs primarily related to our Financial Services and Lending segments as we continue to drive expansion of our products and offerings, advertising and marketing expenditures, member incentive expenses and employee compensation and benefits attributable to increases in headcount to support our growth. Six Months. Sales and marketing expenses increased by $225.0 million, or 45%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. The increase was driven by increases in lead generation costs primarily related to our Financial Services and Lending segments as we continue to drive expansion of our products and offerings, advertising and marketing expenditures, member incentive expenses and employee compensation and benefits attributable to increases in headcount to support our growth. Cost of operations Three Months. Cost of operations expenses increased by $49.7 million, or 33%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The increase was driven by higher employee compensation and benefits attributable to increases in headcount and salary to support our growth and loan origination and servicing expenses driven by increased loan originations during the period. Six Months. Cost of operations expenses increased by $85.3 million, or 30%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. The increase was driven by higher employee compensation and benefits attributable to increases in headcount and salary to support our growth and loan origination and servicing expenses driven by increased loan originations during the period. 83 SoFi Technologies, Inc. TABLE OF CONTENTS General and administrative Three Months. General and administrative expenses increased by $51.4 million, or 31%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This increase was driven by higher employee compensation and benefits attributable to increases in headcount and salary to support our growth, tools and subscriptions costs reflective of continued investments in technology, as well as transaction-related expenses of $4.4 million in the second quarter of 2026 related to the acquisitions of Composer and Peach. Six Months. General and administrative expenses increased by $92.6 million, or 29%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. This increase was driven by higher employee compensation and benefits attributable to increases in headcount and salary to support our growth, tools and subscriptions costs reflective of continued investments in technology, as well as transaction-related expenses of $5.3 million in the first six months of 2026 related to the acquisitions of Composer and Peach. Income Taxes For the three and six months ended June 30, 2026, we recorded income tax expense of $47.7 million and $80.5 million, respectively. For the three and six months ended June 30, 2025, we recorded income tax expense of $14.9 million and $23.6 million, respectively. The income tax expense recognized in both periods was primarily attributable to the Company’s profitability, partially offset by discrete tax benefits for stock compensation recorded in each quarter. For the three and six months ended June 30, 2026, the Company’s effective tax rate was lower than the U.S. federal statutory rate primarily due to excess tax benefits from stock compensation. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts that are more likely than not expected to be realized. In making such a determination of whether a valuation allowance is necessary, the Company considers all available positive and negative evidence supporting the allowance. During the six months ended June 30, 2026, we continue to maintain a valuation allowance in certain jurisdictions where sufficient positive evidence does not exist to support the realizability of deferred tax assets. Management will continue to assess the need for a valuation allowance in future periods. 84 SoFi Technologies, Inc. TABLE OF CONTENTS Summary Results by Segment Contribution profit is the primary measure of segment-level profit and loss that, along with our key business metrics, is used by management to evaluate our business, measure our performance, identify trends and make strategic decisions. Contribution profit is defined as total net revenue for each reportable segment less expenses directly attributable to the reportable segment, provision for credit losses and, in the case of our Lending segment, adjusted for fair value adjustments attributable to assumption changes associated with our servicing rights and residual interests classified as debt. See the sections entitled “Consolidated Results of Operations”, “Summary Results by Segment” and “Non-GAAP Financial Measures” for discussion and analysis of these key financial measures. The following table sets forth selected segment-level data: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 Change % Change 2026 2025 Change % Change Lending Total net revenue $ 724,798 $ 443,512 $ 281,286 63 % $ 1,367,218 $ 856,885 $ 510,333 60 % Directly attributable expenses (312,639) (202,088) (110,551) 55 % (559,537) (375,487) (184,050) 49 % Contribution profit 399,033 244,710 154,323 63 % 781,419 483,645 297,774 62 % Technology Platform Total net revenue $ 84,505 $ 109,833 $ (25,328) (23) % $ 159,591 $ 213,260 $ (53,669) (25) % Directly attributable expenses (72,733) (76,638) 3,905 (5) % (135,820) (149,152) 13,332 (9) % Contribution profit 11,772 33,195 (21,423) (65) % 23,771 64,108 (40,337) (63) % Financial Services Total net revenue $ 466,278 $ 362,533 $ 103,745 29 % $ 894,821 $ 665,652 $ 229,169 34 % Provision for credit losses (13,756) (10,031) (3,725) 37 % (22,646) (15,670) (6,976) 45 % Directly attributable expenses (239,846) (164,270) (75,576) 46 % (463,915) (313,418) (150,497) 48 % Contribution profit 212,676 188,232 24,444 13 % 408,260 336,564 71,696 21 % Reportable segments total Total net revenue $ 1,275,581 $ 915,878 $ 359,703 39 % $ 2,421,630 $ 1,735,797 $ 685,833 40 % Provision for credit losses (13,756) (10,031) (3,725) 37 % (22,646) (15,670) (6,976) 45 % Directly attributable expenses (625,218) (442,996) (182,222) 41 % (1,159,272) (838,057) (321,215) 38 % Contribution profit 623,481 466,137 157,344 34 % 1,213,450 884,317 329,133 37 % 85 SoFi Technologies, Inc. TABLE OF CONTENTS Lending Segment Lending Segment Results of Operations The following table presents the measure of contribution profit for the Lending segment. Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Net interest income $ 573,298 $ 372,675 $ 200,623 54 % $ 1,073,529 $ 733,296 $ 340,233 46 % Noninterest income 151,500 70,837 80,663 114 % 293,689 123,589 170,100 138 % Total net revenue 724,798 443,512 281,286 63 % 1,367,218 856,885 510,333 60 % Servicing rights – change in valuation inputs or assumptions(1) (13,142) 3,274 (16,416) n/m (26,305) 2,200 (28,505) n/m Residual interests classified as debt – change in valuation inputs or assumptions(2) 16 12 4 33 % 43 47 (4) (9) % Directly attributable expenses: Direct advertising (119,825) (79,313) (40,512) 51 % (216,730) (147,082) (69,648) 47 % Lead generation (89,006) (49,558) (39,448) 80 % (148,150) (89,803) (58,347) 65 % Compensation and benefits (58,486) (42,749) (15,737) 37 % (110,735) (78,638) (32,097) 41 % Loan origination and servicing costs (29,387) (19,634) (9,753) 50 % (54,083) (38,355) (15,728) 41 % Professional services (5,463) (3,505) (1,958) 56 % (9,324) (5,740) (3,584) 62 % Intercompany technology platform expenses (654) (477) (177) 37 % (1,266) (966) (300) 31 % Other(3) (9,818) (6,852) (2,966) 43 % (19,249) (14,903) (4,346) 29 % Directly attributable expenses (312,639) (202,088) (110,551) 55 % (559,537) (375,487) (184,050) 49 % Contribution profit $ 399,033 $ 244,710 $ 154,323 63 % $ 781,419 $ 483,645 $ 297,774 62 % Adjusted net revenue – Lending(4) $ 711,672 $ 446,798 $ 264,874 59 % $ 1,340,956 $ 859,132 $ 481,824 56 % __________________ (1)Reflects changes in fair value inputs and assumptions on servicing rights, including conditional prepayment, default rates and discount rates. These assumptions are highly sensitive to market interest rate changes and are not indicative of our performance or results of operations. Moreover, these non-cash charges, which are recorded within noninterest income in the condensed consolidated statements of operations and comprehensive income, are unrealized during the period and, therefore, have no impact on our cash flows from operations. (2)Reflects changes in fair value inputs and assumptions on residual interests classified as debt, including conditional prepayment, default rates and discount rates. When third parties finance our consolidated securitization VIEs by 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, with fair value changes recorded within noninterest income in the condensed consolidated statements of operations and comprehensive income, 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. (3)Other expenses primarily include loan marketing expenses, member promotional expenses, tools and subscriptions, travel and occupancy-related costs and third-party loan fraud (net of related insurance recoveries). (4)Adjusted net revenue is a non-GAAP financial measure. For information regarding our use and definition of this measure and for a reconciliation to the most directly comparable U.S. GAAP measure, total net revenue, see “Non-GAAP Financial Measures” herein. Net interest income Three Months. Net interest income in our Lending segment increased by $200.6 million, or 54%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This was primarily attributable to increases in aggregate average personal and student loan unpaid principal balances of $7.3 billion (42%) and $5.6 billion (59%), respectively, partially offset by lower weighted average interest rates on personal and student loans. The personal and student loan average balance increases were primarily attributable to higher origination volume for our balance sheet. 86 SoFi Technologies, Inc. TABLE OF CONTENTS Six Months. Net interest income in our Lending segment increased by $340.2 million, or 46%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. This was primarily attributable to increases in aggregate average personal and student loan unpaid principal balances of $5.9 billion (34%) and $5.3 billion (59%), respectively, partially offset by lower weighted average interest rates on personal and student loans. The personal and student loan average balance increases were primarily attributable to higher origination volume for our balance sheet. Noninterest income Noninterest income in our Lending segment increased by $80.7 million, or 114%, and increased by $170.1 million, or 138%, for the three and six months ended June 30, 2026, respectively, compared to the same periods in 2025, driven by higher loan origination, sales, securitizations and servicing income. Loan Origination, Sales, Securitizations and Servicing The following table presents the components of noninterest income—loan origination, sales, securitizations and servicing: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change In period originations, loan sale execution and fair value adjustments(1) $ (79,657) $ 188,094 $ (267,751) n/m $ (42,082) $ 428,510 $ (470,592) n/m Economic derivative hedges of loan fair values 212,798 (71,526) 284,324 n/m 374,641 (206,499) 581,140 n/m Loan origination fees 198,505 120,758 77,747 64 % 336,783 222,756 114,027 51 % Loan write-off expense – whole loans(2) (195,283) (153,925) (41,358) 27 % (389,022) (314,595) (74,427) 24 % Other(3) 15,137 (12,575) 27,712 n/m 13,369 (6,556) 19,925 n/m Loan origination, sales, securitizations and servicing noninterest income $ 151,500 $ 70,826 $ 80,674 114 % $ 293,689 $ 123,616 $ 170,073 138 % ___________________ (1)Includes fair value adjustments on loans originated during the period, fair value adjustments of loans and securitization bond and residual interest positions held at the balance sheet date, as well as gains (losses) on loans sold and consolidated securitization transactions during the period. Fair value adjustments are impacted by interest rates, weighted average coupon, credit spreads and loss estimates, prepayment speeds, duration and previous loan sale execution on similar loans. (2)For the three months ended June 30, 2026 and 2025, includes gross write-offs of $229.3 million and $179.1 million, respectively. Total recoveries were $34.1 million and $25.1 million, respectively, of which $24.6 million and $17.2 million, respectively, were captured via loan sales to a third-party collection agency. For the six months ended June 30, 2026 and 2025, includes gross write-offs of $456.0 million and $365.8 million, respectively. Total recoveries were $67.0 million and $51.3 million, respectively, of which $49.0 million and $36.7 million, respectively, were captured via loan sales to a third-party collection agency. (3)Includes changes in fair value of servicing rights, gains (losses) on IRLCs and interest rate caps and the (expense) benefit associated with our estimated loan repurchase obligation (see Note 15. Commitments, Guarantees, Concentrations and Contingencies to the Notes to Condensed Consolidated Financial Statements for additional information). Three Months. The increase in loan origination, sales, securitizations and servicing income of $80.7 million, or 114%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025 was primarily driven by: (i) gains ($294.9 million) during the 2026 period compared to losses in the 2025 period on interest rate swap positions primarily related to personal loans and student loans as rates shifted during the period, (ii) higher origination fees ($77.7 million) primarily driven by increased originations compared to the year ago quarter, and (iii) net fair value gains on home loans ($8.9 million) primarily impacted by increased home loan origination volume. These increases were partially offset by (i) net fair value losses on personal loans and student loans driven by weighted average mark decreases ($280.1 million) and (ii) net higher loan write-offs ($41.4 million) driven by balance sheet growth. Six Months. The increase in income of $170.1 million, or 138%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 was primarily driven by (i) gains ($577.6 million) during the 2026 period compared to losses in the 2025 period on interest rate swap positions primarily related to personal loans and student loans as rates shifted during the period, (ii) higher origination fees ($114.0 million) primarily driven by increased personal loans originations compared to the year ago quarter, and (iii) net fair value gains on home loans ($20.5 million) primarily impacted by increased home loan origination volume. 87 SoFi Technologies, Inc. TABLE OF CONTENTS These increases were partially offset by (i) net fair value losses on personal loans and student loans driven by weighted average mark decreases ($503.7 million) and (ii) net higher loan write-offs ($74.4 million) driven by balance sheet growth. Servicing We own the master servicing on all of the servicing rights that we retain and, in each case, recognize the gross servicing rate applicable to each serviced loan. Sub-servicers are utilized for all serviced student loans and home loans, which represents a cost to SoFi, but these arrangements do not impact our calculation of the weighted average basis points earned for each loan type serviced. Further, there is no impact on servicing income due to forbearance and moratoriums on certain debt collection activities, and there are no waivers of late fees. The table below presents information related to our loan servicing assets: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Servicing income recognized Personal loans $ 40,355 $ 26,276 $ 14,079 54 % $ 77,136 $ 62,902 $ 14,234 23 % Student loans 2,876 5,139 (2,263) (44) % 5,902 8,139 (2,237) (27) % Home loans 5,473 4,489 984 22 % 10,565 8,913 1,652 19 % Servicing rights fair value change Personal loans $ (6,139) $ (6,028) $ (111) n/m $ (19,329) $ 48,516 $ (67,845) n/m Student loans (2,569) (9,751) 7,182 n/m (5,644) (15,212) 9,568 n/m Home loans 5,124 1,005 4,119 410 % 11,113 (426) 11,539 n/m Directly attributable expenses Three Months. Lending segment directly attributable expenses increased by $110.6 million, or 55%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, primarily due to: (i) an increase in direct advertising primarily related to online, digital and direct mail advertising, (ii) an increase in expense related to personal loan lead generation channels, and (iii) an increase in allocated compensation and related benefits, which reflected increases in headcount and salary in 2026 to support growth in the Lending segment. Six Months. Lending segment directly attributable expenses increased by $184.1 million, or 49%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025, primarily due to: (i) an increase in direct advertising primarily related to online, digital and direct mail advertising, (ii) an increase in expense related to personal loan lead generation channels, and (iii) an increase in allocated compensation and related benefits, which reflected increases in headcount and salary in 2026 to support growth in the Lending segment. Total Products Total products in our Lending segment is a subset of our total products metric. See “Key Business Metrics” and “Business Overview” for further discussion of this measure as it relates to our Lending segment. 88 SoFi Technologies, Inc. TABLE OF CONTENTS In the table below, we present certain metrics and financial information related to our Lending segment: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 Metric 2026 2025 Change % Change 2026 2025 Change % Change Total products (number, as of period end) 3,093,359 2,280,368 812,991 36 % 3,093,359 2,280,368 812,991 36 % Origination volume ($ in thousands, during period) Personal loans(1) $ 10,718,359 $ 6,968,746 $ 3,749,613 54 % $ 19,058,608 $ 12,505,587 $ 6,553,021 52 % Student loans 2,686,760 993,326 1,693,434 170 % 5,300,468 2,184,789 3,115,679 143 % Home loans 1,393,375 798,881 594,494 74 % 2,618,049 1,316,639 1,301,410 99 % Total $ 14,798,494 $ 8,760,953 $ 6,037,541 69 % $ 26,977,125 $ 16,007,015 $ 10,970,110 69 % Loans with a balance (number, as of period end)(2) 2,130,211 1,463,597 666,614 46 % 2,130,211 1,463,597 666,614 46 % Average loan balance ($, as of period end)(2) Personal loans $ 25,361 $ 25,832 $ (471) (2) % $ 25,361 $ 25,832 $ (471) (2) % Student loans(3) 45,905 43,209 2,696 6 % 45,905 43,209 2,696 6 % Home loans 232,271 270,540 (38,269) (14) % 232,271 270,540 (38,269) (14) % __________________ (1)Inclusive of origination volume related to our Loan Platform Business. For the three months ended June 30, 2026 and 2025, we originated $3.1 billion and $2.4 billion, respectively, of personal loans on behalf of third parties. For the six months ended June 30, 2026 and 2025, we originated $6.1 billion and $4.0 billion, respectively, of personal loans on behalf of third parties. (2)Loans with a balance and average loan balance include Lending products on our balance sheet, as well as transferred loans and referred loans with which we have a continuing involvement through our servicing agreements. (3)Includes in-school loans and student loan refinancing products. In-school loans carry a lower average balance than student loan refinancing products. Origination Volume We refer to the aggregate dollar amount of loans originated through our platform in a given period as origination volume. Origination volume is an indicator of the size and health of our Lending segment and an indicator (together with the relevant loan characteristics, such as interest rate and prepayment and default expectations) of revenues and profitability. We also originate and sell loans in support of our Loan Platform Business, through which we provide lending related services to third-party partners. We maintain the same lending relationship with borrowers across all loans that we originate, inclusive of those originated on behalf of a third-party partner and as such, reflect these products within our Lending segment total products. Changes in origination volume are driven by the addition of new members and existing members, the latter of which at times will either refinance into a new SoFi loan or secure an additional, concurrent loan, as well as macroeconomic factors impacting consumer spending and borrowing behavior. Personal Loans. During the three and six months ended June 30, 2026, total personal loan origination volume increased by 54% and 52%, respectively, relative to the corresponding 2025 period, inclusive of increases of $3.1 billion and $6.1 billion, respectively, related to personal loans originated on behalf of third parties in support of our Loan Platform Business. Demand from our Loan Platform Business has remained robust as partners continue to leverage our customer acquisition and operational capabilities to originate loans at scale, as well as increased demand driven by expanded advertising and marketing efforts. Student Loans. During the three and six months ended June 30, 2026, student loan origination volume increased by 170% and 143%, respectively, relative to the corresponding 2025 period, as demand for student loan refinancing products continued to increase as borrowers looked to refinance at a lower rate, as well as increased interest in loan term extensions given the elevated interest rate environment. Home Loans. During the three and six months ended June 30, 2026, home loan origination volume increased by 74% and 99%, respectively, relative to the corresponding 2025 period. Our home loan origination volume increased notably throughout 2024 and into 2025, aided by the increased capacity and technology and fulfillment capabilities subsequent to our acquisition of Wyndham. Origination volume during 2025 and into 2026 reflected increased demand for home equity loans, which have allowed members to take advantage of the equity that has built up in their homes. Loans with a Balance and Average Loan Balance Loans with a balance refers to the number of loans that have a balance greater than zero dollars as of the reporting date. Loans with a balance allows management and investors to better understand the unit economics of acquiring a loan in 89 SoFi Technologies, Inc. TABLE OF CONTENTS relation to the lifetime value of that loan. Average loan balance is defined as the total unpaid principal balance of the loans divided by loans with a balance within the respective loan product category as of the reporting date. Average loan balance tends to fluctuate based on the pace of loan originations relative to loan repayments and the initial loan origination size. In the table below, we present additional information related to our lending products: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2026 2025 2026 2025 Overall weighted average origination FICO 747 749 748 747 Personal Loans(1) Weighted average origination FICO 742 743 744 743 Weighted average interest rate earned(2) 12.69 % 13.09 % 12.73 % 13.17 % Interest income recognized $ 784,554 $ 570,351 $ 1,470,213 $ 1,132,565 Sales of loans $ 3,237,871 $ 2,661,123 $ 6,268,489 $ 5,410,043 Student Loans Weighted average origination FICO 760 768 763 769 Weighted average interest rate earned(2) 5.89 % 5.93 % 5.90 % 5.97 % Interest income recognized $ 223,206 $ 141,369 $ 421,451 $ 267,280 Sales of loans $ — $ — $ — $ — Home Loans Weighted average origination FICO 754 749 754 749 Weighted average interest rate earned(2) 7.69 % 7.62 % 7.77 % 7.65 % Interest income recognized $ 34,153 $ 7,538 $ 59,601 $ 11,657 Sales of loans $ 833,683 $ 777,297 $ 1,597,610 $ 1,099,568 __________________ (1)Inclusive of activity related to loans originated and subsequently sold as part of our Loan Platform Business. For the three months ended June 30, 2026 and 2025, included $3.1 billion and $2.4 billion, respectively, related to loans originated on behalf of third parties. For the six months ended June 30, 2026 and 2025, included $6.1 billion and $3.9 billion, respectively, related to loans originated on behalf of third parties. (2)Weighted average interest rate earned represents annualized interest income recognized divided by the average of the unpaid principal balances of loans outstanding during the period, which are impacted by loan holding periods as well as interest rates charged to borrowers. Weighted average interest rate earned was determined on a daily basis. 90 SoFi Technologies, Inc. TABLE OF CONTENTS Transfers of Financial Assets We regularly transfer financial assets and account for such transfers as either sales or secured borrowings depending on the facts and circumstances of the transfer. See Note 4. Loans to the Notes to Condensed Consolidated Financial Statements for additional information. The following table summarizes our current whole loan sales: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2026 2025 2026 2025 Personal loans Fair value of consideration received: Cash $ — $ 200,326 $ — $ 1,313,348 Servicing assets recognized — 11,817 — 80,442 Repurchase liabilities recognized — (520) — (1,800) Total consideration — 211,623 — 1,391,990 Aggregate unpaid principal balance and accrued interest of loans sold — 200,526 — 1,313,698 Realized gain $ — $ 11,097 $ — $ 78,292 Sale execution(1)(2) — % 105.8 % — % 106.1 % Home loans Fair value of consideration received: Cash $ 839,258 $ 792,211 $ 1,612,357 $ 1,118,851 Servicing assets recognized 8,130 4,222 15,507 7,016 Repurchase liabilities recognized (1,040) (1,534) (2,106) (2,143) Total consideration 846,348 794,899 1,625,758 1,123,724 Aggregate unpaid principal balance and accrued interest of loans sold 834,452 779,332 1,598,967 1,101,864 Realized gain $ 11,896 $ 15,567 $ 26,791 $ 21,860 Sale execution(1) 101.6 % 102.2 % 101.8 % 102.2 % _____________________ (1)Sale execution represents the ratio of cash proceeds and servicing assets recognized to the aggregate unpaid principal balance and accrued interest of the loans sold. Amounts included in repurchase liabilities are excluded from the calculation, as they typically would not materially differ from the fair value markdown on the loans over the repurchase period had they been held on balance sheet and entered delinquency. (2)Excludes net origination fees, which are recognized in earnings at the time of origination. Personal loans sold during the three and six months ended June 30, 2025 had related origination fees of $5,167 and $35,505, respectively. Sales execution, for three and six months ended June 30, 2025, including these origination fees would be 108.4% and 108.8%, respectively. There were no personal loan sales during the three and six months ended June 30, 2026. The following table summarizes our delinquent whole loan sales: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2026 2025 2026 2025 Personal loans Fair value of consideration received: Cash $ 7,179 $ 7,200 $ 14,293 $ 14,400 Servicing assets recognized 6,312 6,304 12,566 12,610 Repurchase liabilities recognized 108 (90) (8) (171) Total consideration 13,599 13,414 26,851 26,839 Aggregate unpaid principal balance and accrued interest of loans sold(1)(2) 94,286 94,699 187,816 189,532 Realized loss $ (80,687) $ (81,285) $ (160,965) $ (162,693) Sale execution(3) 14.3 % 14.3 % 14.3 % 14.3 % _____________________ (1) During the three and six months ended June 30, 2026, includes $89.7 million and $178.7 million, respectively, of aggregate unpaid principal balance sold, related to late-stage delinquent loans for which we retained servicing and portions of recoveries. During the three and six months ended June 30, 2025, includes $90.0 million and $180.0 million, respectively, of aggregate unpaid principal balance sold, related to late-stage delinquent loans for which we retained servicing and portions of recoveries. 91 SoFi Technologies, Inc. TABLE OF CONTENTS (2) For the three and six months ended June 30, 2026, $56.2 million and $114.1 million, respectively, of unpaid principal balance was recorded in prior periods as a write down in noninterest income—loan origination, sales, securitizations and servicing in the condensed consolidated statements of operations and comprehensive income. For the three and six months ended June 30, 2025, $63.4 million and $126.7 million, respectively, of unpaid principal balance was recorded in prior periods as a write down in noninterest income—loan origination, sales, securitizations and servicing in the condensed consolidated statements of operations and comprehensive income. These loans were sold prior to charge-off during the respective periods and otherwise would have been charged off as of June 30, 2026 and 2025, respectively, consistent with our policy. In our other charged off whole loan sales, we typically do not retain servicing or recoveries. (3) Sale execution represents the ratio of cash proceeds and servicing assets recognized to the aggregate unpaid principal balance and accrued interest of the loans sold. Amounts included in repurchase liabilities are excluded from the calculation, as they typically would not materially differ from the fair value markdown on the loans over the repurchase period had they been held on balance sheet and entered delinquency. Technology Platform Segment Technology Platform Segment Results of Operations The following table presents the measure of contribution profit for the Technology Platform segment. Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Net interest income $ 1,022 $ 266 $ 756 284 % $ 1,377 $ 679 $ 698 103 % Noninterest income 83,483 109,567 (26,084) (24) % 158,214 212,581 (54,367) (26) % Total net revenue 84,505 109,833 (25,328) (23) % 159,591 213,260 (53,669) (25) % Directly attributable expenses: Compensation and benefits (51,804) (44,168) (7,636) 17 % (97,894) (88,654) (9,240) 10 % Product fulfillment (2,423) (15,250) 12,827 (84) % (4,950) (29,212) 24,262 (83) % Tools and subscriptions (8,209) (10,688) 2,479 (23) % (15,200) (17,578) 2,378 (14) % Professional services (4,515) (3,906) (609) 16 % (8,826) (6,576) (2,250) 34 % Other(1) (5,782) (2,626) (3,156) 120 % (8,950) (7,132) (1,818) 25 % Directly attributable expenses (72,733) (76,638) 3,905 (5) % (135,820) (149,152) 13,332 (9) % Contribution profit $ 11,772 $ 33,195 $ (21,423) (65) % $ 23,771 $ 64,108 $ (40,337) (63) % ___________________ (1)Other expenses are primarily related to travel and occupancy-related costs, advertising and marketing and accounts receivable write-offs. Net interest income Net interest income in our Technology Platform segment of $1.0 million and $1.4 million for the three and six months ended June 30, 2026, respectively, and $0.3 million and $0.7 million for the three and six months ended June 30, 2025, respectively, relates to interest income earned on segment cash balances. Noninterest income Three Months. Noninterest income in our Technology Platform segment decreased by $26.1 million, or 24%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The decrease was primarily attributable to a decline in technology services fees of $39.1 million. These results reflected the exit of a large client who fully transitioned off our platform in 2025. This was partially offset by an increase in intercompany revenue of $9.6 million, primarily attributable to increased usage of technology platform services during the 2026 period by our Financial Services segment as we continue to leverage synergies to enhance our product offerings. Six Months. Noninterest income in our Technology Platform segment decreased by $54.4 million, or 26%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. The decrease was primarily attributable to a decline in technology services fees of $76.3 million. These results reflected the exit of a large client who fully transitioned off our platform in 2025. This was partially offset by an increase in intercompany revenue of $18.2 million, primarily attributable to increased usage of technology platform services during the 2026 period by our Financial Services segment as we continue to leverage synergies to enhance our product offerings. 92 SoFi Technologies, Inc. TABLE OF CONTENTS Directly attributable expenses Three Months. Technology Platform segment directly attributable expenses decreased by $3.9 million, or 5%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, primarily attributable to a decrease in product fulfillment costs, primarily related to payment processing network association fees associated with decreased activity on the platform. Six Months. Technology Platform segment directly attributable expenses decreased by $13.3 million, or 9%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025, primarily attributable to a decrease in product fulfillment costs, primarily related to payment processing network association fees associated with decreased activity on the platform. Total Accounts In the table below, we present the total accounts metric related to our Technology Platform segment: 2026 vs 2025 June 30, 2026 June 30, 2025 Change % Change Total accounts 134,804,238 160,046,369 (25,242,131) (16) % See “Key Business Metrics” and “Business Overview” for further discussion of this measure as it relates to our Technology Platform segment. Financial Services Segment Financial Services Segment Results of Operations The following table presents the measure of contribution profit for the Financial Services segment: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Net interest income $ 249,052 $ 193,322 $ 55,730 29 % $ 476,792 $ 366,521 $ 110,271 30 % Noninterest income 217,226 169,211 48,015 28 % 418,029 299,131 118,898 40 % Total net revenue 466,278 362,533 103,745 29 % 894,821 665,652 229,169 34 % Provision for credit losses (13,756) (10,031) (3,725) 37 % (22,646) (15,670) (6,976) 45 % Directly attributable expenses: Compensation and benefits (59,966) (38,143) (21,823) 57 % (117,391) (80,622) (36,769) 46 % Direct advertising (3,659) (8,423) 4,764 (57) % (15,653) (14,099) (1,554) 11 % Lead generation (55,372) (33,180) (22,192) 67 % (106,996) (64,848) (42,148) 65 % Product fulfillment (30,781) (19,036) (11,745) 62 % (57,378) (37,737) (19,641) 52 % Member incentives (31,357) (18,003) (13,354) 74 % (55,991) (34,086) (21,905) 64 % Professional services (8,209) (6,475) (1,734) 27 % (17,858) (13,732) (4,126) 30 % Intercompany technology platform expenses (15,088) (13,320) (1,768) 13 % (27,815) (24,341) (3,474) 14 % Other(1) (35,414) (27,690) (7,724) 28 % (64,833) (43,953) (20,880) 48 % Directly attributable expenses (239,846) (164,270) (75,576) 46 % (463,915) (313,418) (150,497) 48 % Contribution profit $ 212,676 $ 188,232 $ 24,444 13 % $ 408,260 $ 336,564 $ 71,696 21 % ___________________ (1)Other expenses primarily include operational product losses, network servicing fees, travel and occupancy-related costs, tools and subscriptions, and marketing expenses. Net interest income Net interest income in our Financial Services segment increased by $55.7 million, or 29%, and $110.3 million, or 30%, for the three and six months ended June 30, 2026 compared to the same periods in 2025, which was primarily attributable to net interest income earned on our deposits which includes interest income based on our FTP framework (which is eliminated in consolidation) and interest expense to members. This net increase corresponds with the growth of our SoFi Money product and related deposits at SoFi Bank. 93 SoFi Technologies, Inc. TABLE OF CONTENTS Noninterest income The table below presents revenue from contracts with customers disaggregated by type of service, as well as a reconciliation of total revenue from contracts with customers to total noninterest income for the Financial Services segment. Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Referrals, loan platform business(1) $ 24,358 $ 22,548 $ 1,810 8 % $ 43,635 $ 42,248 $ 1,387 3 % Referrals, other(2) 3,701 2,588 1,113 43 % 7,457 5,118 2,339 46 % Interchange(2) 41,059 26,502 14,557 55 % 76,260 49,314 26,946 55 % Brokerage(2) 18,127 7,542 10,585 140 % 33,231 14,527 18,704 129 % Net crypto transaction revenue 1,183 — 1,183 n/m 2,035 — 2,035 n/m Other(2)(3) 9,621 2,166 7,455 344 % 15,593 3,897 11,696 300 % Total net revenue from contracts with customers(4) 98,049 61,346 36,703 60 % 178,211 115,104 63,107 55 % Loan platform business, other(1) 116,572 104,857 11,715 11 % 235,550 177,907 57,643 32 % Other sources of revenue(5) 2,604 3,008 (404) (13) % 4,267 6,120 (1,853) (30) % Total Financial Services noninterest income $ 217,225 $ 169,211 $ 48,014 28 % $ 418,028 $ 299,131 $ 118,897 40 % _____________________ (1) Presented within noninterest income—loan platform fees in the condensed consolidated statements of operations and comprehensive income. (2) Presented within noninterest income—other in the condensed consolidated statements of operations and comprehensive income. (3) Includes revenues from wire fee income, enterprise services, SoFi Plus subscriptions and equity capital markets services. (4) See Note 3. Revenue to the Notes to Condensed Consolidated Financial Statements for additional information. (5) Presented within noninterest income—other and noninterest income—loan origination, sales, securitizations and servicing in the condensed consolidated statements of operations and comprehensive income. Three Months. Noninterest income in our Financial Services segment increased by $48.0 million, or 28%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, primarily due to: (i) an increase in interchange fees of $14.6 million, which coincided with increased debit card and credit card transactions; (ii) an increase in Loan Platform Business revenue of $13.5 million, primarily driven by higher loan platform fees from increased third-party loan originations for subsequent sale and higher revenue from pre-qualified borrower referrals as we continued to increase partner volume; and (iii) an increase in brokerage fees of $10.6 million reflecting both growing engagement and stronger monetization from our SoFi Invest product. Six Months. Noninterest income in our Financial Services segment increased by $118.9 million, or 40%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025, primarily due to: (i) growth in our Loan Platform Business revenue of $59.0 million primarily driven by higher loan platform fees from increased third-party loan originations for subsequent sale and higher revenue from pre-qualified borrower referrals as we continued to increase partner volume; (ii) an increase in interchange fees of $26.9 million, which coincided with increased debit card and credit card transactions; and (iii) an increase in brokerage fees of $18.7 million reflecting both growing engagement and stronger monetization from our SoFi Invest product. Provision for credit losses Provision for credit losses in our Financial Services segment increased by $3.7 million, or 37%, and $7.0 million, or 45%, for the three and six months ended June 30, 2026, respectively, compared to the same periods in 2025. The allowance increase of $4.5 million and $5.5 million, respectively, during the three and six months ended June 30, 2026 primarily reflected growth in the credit card portfolio balances, partially offset by continued strength in credit quality of the portfolio. Net charge-offs increased driven by higher average credit card balances. 94 SoFi Technologies, Inc. TABLE OF CONTENTS Directly attributable expenses Three Months. Financial Services directly attributable expenses increased by $75.6 million, or 46%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, primarily due to: (i) an increase in allocated compensation and related benefits which reflected an increase in headcount and salary in 2026 to support growth in the Financial Services segment; (ii) a net increase in direct advertising and lead generation costs as we continue to expand our Money and Invest products, and Loan Platform Business; (iii) an increase in member incentives utilized to drive adoption and usage of our Financial Services products; and (iv) an increase in product fulfillment costs, which included debit card fulfillment services, primarily related to our Money product. Six Months. Financial Services directly attributable expenses increased by $150.5 million, or 48%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025, primarily due to: (i) a net increase in direct advertising and lead generation costs as we continue to expand our Money and Invest products, and Loan Platform Business; (ii) an increase in allocated compensation and related benefits which reflected an increase in headcount in 2026 to support growth in the Financial Services segment; (iii) an increase in product fulfillment costs, which included debit card fulfillment services, primarily related to our Money product; and (iv) an increase in member incentives utilized to drive adoption and usage of our Financial Services products. Total Products In the table below, we present the total products metric related to our Financial Services segment: 2026 vs 2025 June 30, 2026 June 30, 2025 Change % Change Total products 21,287,615 14,861,673 6,425,942 43 % Total products in our Financial Services segment is a subset of our total products metric. See “Key Business Metrics” and “Business Overview” for a further discussion of this measure as it relates to our Financial Services segment. Corporate/Other Segment Non-segment operations are classified as Corporate/Other, which includes net revenues associated with corporate functions, non-recurring gains and losses from non-securitization investment activities, interest income and realized gains and losses associated with investments in AFS debt securities, and gains or losses on extinguishment of convertible debt, all of which are not directly related to a reportable segment. Net interest expense within Corporate/Other also reflects the financial impact of our capital management activities within the treasury function, which reflects the residual impact from FTP charges and FTP credits allocated to our reportable segments under our FTP framework. The following table presents the measure of total net revenue (loss) for Corporate/Other: Three Months Ended June 30, 2026 vs 2025 Six Months Ended June 30, 2026 vs 2025 ($ in thousands) 2026 2025 $ Change % Change 2026 2025 $ Change % Change Net interest income (expense) $ (35,177) $ (48,426) $ 13,249 (27) % $ (70,515) $ (83,933) $ 13,418 (16) % Noninterest income (loss) (21,728) (12,508) (9,220) 74 % (32,071) (25,161) (6,910) 27 % Total net revenue (loss) $ (56,905) $ (60,934) $ 4,029 (7) % $ (102,586) $ (109,094) $ 6,508 (6) % 95 SoFi Technologies, Inc. TABLE OF CONTENTS Reconciliation of Directly Attributable Expenses The following table reconciles directly attributable expenses allocated to our reportable segments to total noninterest expense in the condensed consolidated statements of operations and comprehensive income: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2026 2025 2026 2025 Reportable segments directly attributable expenses $ (625,218) $ (442,996) $ (1,159,272) $ (838,057) Intercompany expenses 27,805 18,182 52,542 34,377 Expenses not allocated to segments: Share-based compensation expense (76,865) (63,256) (148,877) (127,012) Employee-related costs(1) (103,064) (86,586) (211,519) (174,783) Depreciation and amortization expense (73,106) (56,743) (140,684) (112,026) Other corporate and unallocated expenses(2) (150,164) (101,318) (284,723) (201,515) Total noninterest expense $ (1,000,612) $ (732,717) $ (1,892,533) $ (1,419,016) ___________________ (1)Includes expenses related to compensation, benefits, restructuring charges, recruiting, certain occupancy-related costs and various travel costs of executive management, certain technology groups and general and administrative functions that are not directly attributable to the reportable segments. (2)Represents corporate overhead costs that are not allocated to reportable segments, which primarily includes corporate marketing and advertising costs, tools and subscription costs, professional services costs, amortization of premiums on a credit default swap, corporate and FDIC insurance costs, foreign currency translation adjustments and transaction-related expenses. 96 SoFi Technologies, Inc. TABLE OF CONTENTS Consolidated Balance Sheet Analysis Assets The following is a discussion of the significant changes in our assets, liabilities and equity between June 30, 2026 and December 31, 2025. 2026 vs 2025 ($ in thousands) June 30, 2026 December 31, 2025 $ Change % Change Assets Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 3,565,559 $ 5,356,773 $ (1,791,214) (33) % Investment securities 4,225,652 2,575,607 1,650,045 64 % Total loans 47,933,382 38,037,063 9,896,319 26 % All other assets(1) 5,222,955 4,691,035 531,920 11 % Total assets $ 60,947,548 $ 50,660,478 $ 10,287,070 20 % ___________________ (1)All other assets includes servicing rights, property, equipment and software, goodwill, intangible assets, operating lease right-of-use assets and other assets. See the condensed consolidated balance sheets within this report. Total assets as of June 30, 2026 were $60.9 billion, up $10.3 billion, or 20%, from December 31, 2025. The increase was primarily attributable to an increase in total loans of $9.9 billion, comprised of held for sale ($6.9 billion) driven by an increase in personal and home loan originations and an increase in our loans held for investment ($3.0 billion) which was primarily related to student loan originations. This increase was partially offset by a reduction in cash, cash equivalents of $1.8 billion. See "Cash Flow and Liquidity Analysis" for further discussion of changes in total cash, cash equivalents, restricted cash and restricted cash equivalents during the six months ended June 30, 2026. 2026 vs 2025 ($ in thousands) June 30, 2026 December 31, 2025 $ Change % Change Liabilities and equity Liabilities: Total deposits $ 45,543,160 $ 37,505,395 $ 8,037,765 21 % Debt 3,300,544 1,815,162 1,485,382 82 % All other liabilities(1) 1,027,617 850,426 177,191 21 % Total liabilities 49,871,321 40,170,983 9,700,338 24 % Total equity 11,076,227 10,489,495 586,732 6 % Total liabilities and equity $ 60,947,548 $ 50,660,478 $ 10,287,070 20 % ___________________ (1)Other liabilities includes accounts payable, accruals and other liabilities, operating lease liabilities and residual interests classified as debt. See the condensed consolidated balance sheets within this report. Liabilities and Equity Total liabilities as of June 30, 2026 were $49.9 billion, up $9.7 billion, or 24%, from December 31, 2025. The increase was primarily attributable to an increase in total deposits ($8.0 billion) driven by our differentiated checking and savings account offerings and competitive APY. Total equity as of June 30, 2026 was $11.1 billion, up $586.7 million, or 6%, from December 31, 2025. The increase was primarily attributable a decrease in accumulated deficit driven by net income during the six months ended June 30, 2026 as well as the completion of a common stock offering in January 2026. 97 SoFi Technologies, Inc. TABLE OF CONTENTS Cash Flow and Liquidity Analysis The following table provides a summary of cash flow data: Six Months Ended June 30, ($ in thousands) 2026 2025 Net cash used in operating activities $ (6,205,438) $ (1,445,406) Net cash used in investing activities (5,225,196) (3,162,691) Net cash provided by financing activities 9,640,126 4,614,172 Cash Flows from Operating Activities For the six months ended June 30, 2026, net cash used in operating activities primarily stemmed from loans held for sale originations outpacing cash proceeds from loans held for sale paydowns and sales activities, partially offset by net income and paydowns on our loans previously classified as held for sale. We had principal loan originations of $21.7 billion during the period. These cash uses were partially offset by cash proceeds of principal loan payments of $7.1 billion and principal loan sales of $7.7 billion. For the six months ended June 30, 2025, net cash used in operating activities primarily stemmed from loans held for sale originations outpacing cash proceeds from loans held for sale paydowns and sales activities, partially offset by net income, paydowns on our loans previously classified as held for sale, and favorable changes in other assets. We had principal loan originations of $13.8 billion and principal loan purchases of $5.2 million during the period. These cash uses were partially offset by principal loan payments of $5.4 billion and principal loan sales of $6.4 billion. Cash Flows from Investing Activities For the six months ended June 30, 2026, net cash used in investing activities was primarily driven by growth in our loans and AFS investment portfolio, including $5.3 billion of loan originations and $2.5 billion of AFS investment purchases, as well as net outflows related to credit cards of $45.8 million. These outflows were partially offset by $2.0 billion of proceeds from loan repayments and recoveries, $605.8 million of AFS investment sales and $345.9 million of AFS investment payments and maturities. For the six months ended June 30, 2025, net cash used in investing activities was primarily driven by growth in our loans and investment portfolios, including $2.5 billion of loan originations, $896.8 million of loan purchases and $905.4 million of investment purchases, as well as net outflows related to credit cards of $100.2 million. These outflows were partially offset by $891.2 million of proceeds from loan repayments and recoveries as well as $204.8 million of investment sales and $247.3 million of investment payments and maturities. Cash Flows from Financing Activities For the six months ended June 30, 2026, net cash provided by financing activities was primarily attributable to net cash sources from our SoFi Bank deposits of $8.0 billion and $1.5 billion increase in our personal and student loan warehouse facilities as part of our normal balance sheet management as well as proceeds of $87.4 million from the common stock offering that we completed in the first quarter of 2026. For the six months ended June 30, 2025, net cash provided by financing activities was primarily attributable to net cash sources from our SoFi Bank deposits and increase in our personal and student loan warehouse facilities as part of our normal balance sheet management. 98 SoFi Technologies, Inc. TABLE OF CONTENTS Liquidity and Capital Resources Liquidity We strive to maintain access to diverse funding sources and ample liquidity to fund our operating requirements, to pursue strategic growth initiatives and to meet our legal and regulatory requirements. Our principal sources of liquidity are our cash and cash equivalents, including cash from operations, and investments in other highly liquid assets. We maintain Treasury risk policies which outline specific requirements relating to the oversight of SoFi Technologies, Inc. (and its subsidiaries) capital planning, financial planning and forecasting, liquidity risk management, contingency funding planning, interest rate risk management, cash management and financial operations, among other activities. Oversight of these activities is the responsibility of our ALCO. The ALCO is a management committee comprised of a cross-functional leadership team that is responsible for managing our use of capital, liquidity, sources and uses of funding, and sensitivities to various market risks, by identifying key risks and exposures, monitoring them appropriately, establishing tolerances and limits, mitigating risks where appropriate, and facilitating timely responses to changes in the macroeconomic environment and liquidity events to work to ensure the Company has the ability to meet its obligations. The following table summarizes our total liquidity reserves: June 30, 2026 ($ in thousands) Amount Available Amount Borrowed / Utilized Remaining Available Capacity Cash and cash equivalents $ 3,126,237 n/a $ 3,126,237 Investments in AFS debt securities(1) 3,505,491 n/a 3,505,491 Warehouse facilities(2) 7,180,000 1,488,307 5,691,693 Revolving credit facility(3) 645,000 497,400 147,600 FHLB advances(4) 1,203,245 46,700 1,156,545 Other lines of credit(5) 50,000 — 50,000 Total liquidity $ 15,709,973 $ 2,032,407 $ 13,677,566 ___________________ (1)Excludes investments in AFS debt securities which are pledged as collateral to the FHLB, and AFS securitization investments. (2)Includes personal loan, student loan and risk retention warehouse facilities. For risk retention facilities, we only include capacity amounts wherein we can pledge additional asset-backed bonds and residual investments as of the date indicated. See Note 9. Debt to the Notes to Condensed Consolidated Financial Statements for additional information. (3)As of June 30, 2026, the amount utilized under the revolving credit facility includes $11.4 million utilized to secure letters of credit. See Note 9. Debt to the Notes to Condensed Consolidated Financial Statements for additional information. (4)As of June 30, 2026, we had $472.0 million of investments in AFS debt securities and $1.3 billion of loans pledged as collateral to the FHLB to secure undrawn borrowing capacity of $1.2 billion, of which $46.7 million was utilized to secure letters of credit. (5)Borrowing capacity with a correspondent bank, which is an unsecured committed Federal funds line. We believe our existing liquidity will be sufficient to meet our existing working capital and capital expenditure needs as well as our planned growth for at least the next 12 months. Sources of Funding Our primary funding sources include SoFi Bank deposits, warehouse funding, common equity capital, convertible debt, corporate revolving credit facility, securitizations, and other financings. We offer deposit accounts (checking and savings accounts) to our members through SoFi Bank. We also source brokered and non-brokered wholesale deposits, which include certificates of deposit. As of June 30, 2026 and December 31, 2025, time deposit balances due in less than one year totaled $4.4 billion and $1.2 billion, respectively. As of June 30, 2026 and December 31, 2025, the amount of uninsured deposits totaled $1.1 billion and $1.0 billion, respectively. As of June 30, 2026, approximately 98% of our total deposits were insured. On December 8, 2025, the Company completed an underwritten public offering of 54,545,454 shares of common stock, at an offering price of $27.50 per share. The Company received net proceeds of $1.5 billion after deducting underwriting discounts and offering costs. In January 2026, the Company completed the issuance and sale of an additional 3,209,206 shares 99 SoFi Technologies, Inc. TABLE OF CONTENTS of common stock purchased pursuant to a 30-day option related to the December 2025 underwriting agreement. The Company received net proceeds of approximately $0.1 billion after deducting underwriting discounts and commissions paid. Inclusive of the option, the total aggregate number of shares sold in December 2025 and January 2026 related to the offering was 57,754,660 shares, for total cash proceeds of approximately $1.6 billion, net of underwriting discounts and commissions paid. Uses of Funding Our primary uses of funds include loan originations, investments in our business, such as technology and product investments, as well as sales and marketing initiatives. Our capital expenditures have historically been less significant relative to our operating and financing cash flows, and we expect this trend to continue for the foreseeable future. As of June 30, 2026, we had debt obligations and common stock outstanding. Borrowings Our borrowings primarily included our revolving credit facility and convertible notes. During the fourth quarter of 2025, the Company used a portion of the proceeds from its common stock issuances to pay down its warehouse facilities; the warehouse facilities remain open to maintain future borrowing capacity. Refer to Note 9. Debt to the Notes to Condensed Consolidated Financial Statements in this Form 10-Q and to Note 12. Debt to the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for additional information on our borrowing arrangements and the capped call transactions entered into in connection with the issuance of our convertible notes. Covenants We have various affirmative and negative financial covenants, as well as non-financial covenants, related to our warehouse debt and revolving credit facility. Additionally, we have compliance requirements associated with our convertible notes, and certain provisions of the arrangement could change in the event of a “Make-Whole Fundamental Change”, as defined in the indenture governing such convertible notes. The availability of funds under our warehouse facilities and revolving credit facility is subject to, among other conditions, our continued compliance with the covenants. These financial covenants include, but are not limited to, maintaining: (i) a certain minimum tangible net worth, (ii) minimum unrestricted cash and cash equivalents, (iii) a maximum leverage ratio of total debt to tangible net worth, and (iv) minimum risk-based capital and leverage ratios. A breach of these covenants can result in an event of default under these facilities and allows the lenders to pursue certain remedies. See Note 9. Debt to the Notes to Condensed Consolidated Financial Statements for additional information. Our subsidiaries are restricted in the amount that can be distributed to SoFi only to the extent that such distributions would cause the financial covenants to not be met. We were in compliance with all covenants as of June 30, 2026. Capital Management SoFi Technologies, a bank holding company, and SoFi Bank, a nationally chartered association, are required to comply with regulatory capital rules issued by the Federal Reserve and other U.S. banking regulators, including the OCC and FDIC. From time to time, we may contribute capital to SoFi Bank. We are required to manage our capital position to maintain sufficient capital to satisfy these regulatory rules and support our business activities, including the requirement to maintain minimum regulatory capital ratios in accordance with the Basel Committee on Banking Supervision standardized approach for U.S. banking organizations (U.S. Basel III). If the Federal Reserve finds that we are not “well-capitalized” or “well-managed”, we would be required to take remedial action, which may contain additional limitations or conditions relating to our activities. The Federal Reserve and the OCC have authority to prohibit bank holding companies and banks, respectively, from paying dividends if, in their opinion, the payment of dividends would constitute an unsafe or unsound practice. Under the National Bank Act, SoFi Bank generally may, without prior approval of the OCC, declare a dividend so long as the total amount of all dividends, including the proposed dividend, in the current year do not exceed net income for the current year to date plus retained net income for the prior two years. However, taking into account a wide range of factors, the OCC may object and therefore prevent SoFi Bank from paying dividends to the Company. As such, as of June 30, 2026, the Bank would not have any funds free of restrictions that are available for dividend payments. Restrictions on the ability of SoFi Bank to pay dividends to the parent company could also impact the Company’s ability to pay dividends to common stockholders. 100 SoFi Technologies, Inc. TABLE OF CONTENTS Additionally, under the Federal Reserve’s capital rules, our bank holding company’s ability to pay dividends is restricted if we do not maintain capital above the capital conservation buffer, as discussed below. Further, a policy statement of the Federal Reserve provides that, among other things, a bank holding company generally should not pay dividends on regulatory capital instruments if its net income for the past year is not sufficient to cover both the cash dividends and a rate of earnings retention that is consistent with the company’s capital needs, asset quality, and overall financial condition. Based on this Federal Reserve policy, as of June 30, 2026, the Company generally would not have any funds free of restrictions available for dividend payments on regulatory capital instruments. These requirements establish required minimum ratios for CET1 risk-based capital, Tier 1 risk-based capital, total risk-based capital and a Tier 1 leverage ratio; set risk-weighting for assets and certain other items for purposes of the risk-based capital ratios; and define what qualifies as capital for purposes of meeting the capital requirements. Additionally, regulatory capital rules include a capital conservation buffer of 2.5% that is added on top of each of the minimum risk-based capital ratios in order to avoid restrictions on capital distributions and discretionary bonuses. In addition, the Federal Reserve and the OCC have authority to require banking organizations subject to their supervision to hold additional amounts of capital in excess of the minimum risk-based capital ratios. The risk- and leverage-based capital ratios and amounts are presented below: June 30, 2026 December 31, 2025 ($ in thousands) Amount Ratio Amount Ratio Required Minimum(1) Well-Capitalized Minimum(2) SoFi Technologies(3) CET1 risk-based capital $ 9,112,892 18.7 % $ 8,473,542 22.8 % 7.0 % n/a Tier 1 risk-based capital 9,112,892 18.7 % 8,473,542 22.8 % 8.5 % n/a Total risk-based capital 9,169,161 18.8 % 8,524,272 22.9 % 10.5 % n/a Tier 1 leverage 9,112,892 16.5 % 8,473,542 18.8 % 4.0 % n/a Risk-weighted assets 48,682,417 37,234,048 Quarterly adjusted average assets 55,260,718 45,007,951 SoFi Bank CET1 risk-based capital $ 7,078,531 15.2 % $ 5,789,629 16.4 % 7.0 % 6.5 % Tier 1 risk-based capital 7,078,531 15.2 % 5,789,629 16.4 % 8.5 % 8.0 % Total risk-based capital 7,134,800 15.3 % 5,840,360 16.6 % 10.5 % 10.0 % Tier 1 leverage 7,078,531 13.3 % 5,789,629 13.5 % 4.0 % 5.0 % Risk-weighted assets 46,672,968 35,221,924 Quarterly adjusted average assets 53,060,989 42,755,205 ____________________ (1)Required minimums presented for risk-based capital ratios include the required capital conservation buffer. (2)The well-capitalized minimum measure is applicable at the bank level only. (3)Amounts and ratios for June 30, 2026 are estimated. As of June 30, 2026 and December 31, 2025, our regulatory capital ratios exceeded the thresholds required to be regarded as a well-capitalized institution, and meet all capital adequacy requirements to which we are subject. There have been no events or conditions since June 30, 2026 that management believes would change the categorization. Commitments In addition to our warehouse facility borrowings, revolving credit facility borrowings and convertible notes, our material commitments requiring, or potentially requiring, the use of cash in future periods primarily include commitments related to sponsorship, advertising, and cloud computing agreements under which we are required to make payments over the life of the agreements. Additional material commitments include operating lease obligations primarily associated with office premises and finance lease obligations which expire in 2040. Guarantees We may require liquidity resources associated with our guarantee arrangements. As a component of our loan sale agreements, we make certain representations to third parties that purchased our previously held loans. We have a three-year obligation to GSEs on loans that we sell to GSEs, to repurchase any originated loans that do not meet certain GSE guidelines, 101 SoFi Technologies, Inc. TABLE OF CONTENTS and we are required to pay the full initial purchase price back to the GSEs. In addition, we make standard representations and warranties related to personal, student and home loan transfers, as well as limited credit-related repurchase guarantees on certain such transfers. If realized, any of the repurchases would require the use of cash. See Note 15. Commitments, Guarantees, Concentrations and Contingencies to the Notes to Condensed Consolidated Financial Statements for further information on these and other guarantee obligations. We believe we have adequate liquidity to meet these expected obligations. Factors Affecting Liquidity The activities of our lending business are a key factor affecting our liquidity, in particular our origination volume, the holding period of our loans, loan sale execution and the timing of loan repayments. Our ability to have adequate liquidity to fund our balance sheet is impacted by our ability to access new deposits, and retain and grow existing deposits, along with our ability to access whole loan buyers, sell our loans on favorable terms, maintain adequate warehouse capacity at favorable terms, and to strategically manage our continuing financial interest in securitization-related transfers. Our ability to attract and maintain deposits can be impacted by, among other things, general economic conditions, competition from other financial services firms, idiosyncratic events and the interest rates we offer, which can impact our liquidity from deposits. In 2023, we began to provide our members with access to expanded FDIC insurance coverage through a network of participating banks in our Insured Deposit Program. We continued to have strong deposit contribution through the second quarter of 2026. There is no guarantee that we will be able to execute on our strategy as it relates to the timing and pricing of capital markets transaction. Further, future uncertainties around the demand for our personal loans, home loans and around the student loan refinance market in general, including as a result of worsening macroeconomic conditions or market disruptions, should be considered when assessing our future liquidity and solvency prospects. In the future, our loan origination volume and our resulting loan balances, and any positive cash flows thereof, could also be lower based on strategic decisions to tighten our credit standards. In addition to our ability to pledge unencumbered loans against available warehouse capacity, we have relationships with whole loan buyers who have historically demonstrated strong demand for our loans. Capital markets can also generate additional liquidity; however, we are required to maintain a minimum investment due to securitization risk retention rules. We also had available borrowing capacity at the FHLBs and the discount window at the Federal Reserve Banks as a result of collateral pledged by us to such banks. Our long-term liquidity strategy includes continuing to grow our deposit base, maintaining adequate warehouse capacity, maintaining access to debt capital markets and other sources of financing, as well as effectively managing the capital raised through debt and equity transactions. Although our goal is to increase our cash flow from operations, there can be no assurance that our future operating plans will lead to improved operating cash flows. The FDIA and FDIC regulations generally limit the ability of an insured depository institution to accept, renew or roll over any brokered deposit unless the institution’s capital category is “well capitalized” or, with the FDIC’s approval, “adequately capitalized.” As of June 30, 2026, our regulatory capital ratios exceeded the thresholds required to be regarded as a well-capitalized institution, and meet all capital adequacy requirements to which we are subject. Other Arrangements We enter into arrangements in which we originate loans, establish an SPE and transfer loans to the SPE, which has historically served as an important source of liquidity. We also retain the servicing rights of the underlying loans and hold additional interests in the SPE. When an SPE is determined not to be a VIE or when an SPE is determined to be a VIE but we are not the primary beneficiary, the SPE is not consolidated. In addition, a significant change to the pertinent rights of other parties or our pertinent rights, or a significant change to the ranges of possible financial performance outcomes used in our assessment of the variability of cash flows due to us, could impact the determination of whether or not a VIE is consolidated. VIE consolidation and deconsolidation may lead to increased volatility in our financial results and impact period-over-period comparability. See Note 1. Organization, Summary of Significant Accounting Policies and New Accounting Standards to the Notes to Consolidated Financial Statements within our Annual Report on Form 10-K for the year ended December 31, 2025 for our VIE consolidation policy. Historically, we have established personal loan trusts and student loan trusts that were created and designed to transfer credit and interest rate risk associated with the underlying loans through the issuance of collateralized notes and residual certificates. We hold a variable interest in the trusts through our ownership of collateralized notes in the form of asset-backed 102 SoFi Technologies, Inc. TABLE OF CONTENTS bonds and residual certificates. The residual certificates absorb variability and represent the equity ownership interest in the equity portion of the personal loan and student loan trusts. We are also the servicer for all trusts in which we hold a financial interest. As servicer, we may have the power to perform the activities which most impact the economic performance of the VIE, but since either we hold an insignificant financial interest in the trusts or rights held by other variable interest holders convey power, we are not the primary beneficiary. Further, we do not provide financial support beyond our initial equity investment, and our maximum exposure to loss as a result of our involvement with nonconsolidated VIEs is limited to that initial investment. For a more detailed discussion of nonconsolidated VIEs, including related activity during the period, see Note 7. Securitization and Variable Interest Entities to the Notes to Condensed Consolidated Financial Statements. Critical Accounting Estimates Our consolidated financial statements have been prepared in accordance with GAAP. In preparing our consolidated financial statements, we make judgments, estimates and assumptions that affect reported amounts of assets and liabilities, as well as revenues and expenses. We base our assumptions, judgments and estimates on historical experience and various other factors that we believe to be reasonable under the circumstances. The results involve judgments about the carrying values of assets and liabilities not readily apparent from other sources. Actual results could differ materially from these estimates under different assumptions or conditions. We regularly evaluate our estimates, assumptions and judgments, particularly those that include the most difficult, subjective or complex judgments which are often about matters that are inherently uncertain. We evaluate our critical accounting policies and estimates on an ongoing basis and update them as necessary based on changes in market conditions or factors specific to us. There have been no material changes in our significant accounting policies or critical accounting estimates during 2026. For a complete discussion of our significant accounting policies and critical accounting estimates, refer to our Annual Report on Form 10-K for the year ended December 31, 2025 within Note 1. Organization, Summary of Significant Accounting Policies and New Accounting Standards to the Notes to Consolidated Financial Statements and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates”. Goodwill Goodwill represents the fair value of an acquired business in excess of the fair value of the identified net assets acquired. As of June 30, 2026, we had goodwill of $1.4 billion, substantially all of which was assigned to the Technology Platform reporting unit. Goodwill is tested for impairment at the reporting unit level at least annually, with a recurring testing date of October 1, or whenever indicators of impairment exist. We may assess goodwill for impairment initially based on qualitative considerations, referred to as “step zero”, to determine whether conditions exist that indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If management concludes, based on its assessment of relevant events, facts and circumstances that it is more likely than not that a reporting unit’s carrying value is greater than its fair value, then a quantitative analysis, referred to as “step one”, will be performed to determine if there is any impairment. We may alternatively elect to initially perform a quantitative assessment and bypass the qualitative assessment. Quantitative goodwill impairment assessments require a significant amount of management judgment, and a meaningful change in the forecasted future revenues and cash flows, the discount rate, and the determination of market multiples used in testing goodwill for impairment could result in a material impact on the Company’s results of operations and financial position. During the second quarter of 2026, we performed a qualitative assessment for our reporting units to which goodwill is allocated to determine if, for any reporting unit, it is more likely than not that the fair value of the reporting unit is less than its carrying amount. The Company evaluated events and circumstances since the last goodwill assessment date to determine if it was more likely than not that the fair value of the reporting units were less than their respective carrying amounts. The factors evaluated included an assessment of macroeconomic conditions, industry and market conditions, key financial metrics, overall financial performance of the reporting unit, or any other specific events or changes. As a result of this assessment, we concluded that it was not more-likely-than-not that the fair value of any of our reporting units was below its respective carrying value as of June 30, 2026. Management cannot predict the occurrence of certain events or changes in circumstances that might adversely affect the value of goodwill. We continue to monitor the general macroeconomic environment, including the interest rate environment, inflationary pressures, and the potential for a prolonged economic downturn or recession, as well as other factors such as if the Company’s market capitalization was to decline due to unforeseen factors, along with those listed in "Cautionary Statement Regarding Forward-Looking Statements" and of this Quarterly Report and "Risk Factors" in Part II, Item 1A in our 103 SoFi Technologies, Inc. TABLE OF CONTENTS Annual Report on Form 10-K for the year ended December 31, 2025. Further persistence of the aforementioned conditions and these other factors could result in impairment charges in future periods. Recent Accounting Standards Issued, But Not Yet Adopted See Note 1. Organization, Summary of Significant Accounting Policies and New Accounting Standards to the Notes to Condensed Consolidated Financial Statements herein and Note 1. Organization, Summary of Significant Accounting Policies and New Accounting Standards to the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2025.