EXHIBIT 99.1

LendingClub Reports Second Quarter 2021 Results

Delivers Record Net Income on 93% Growth in Revenue

Raising Full Year Revenue Target by +45% with Net Income Guidance of $25-$35 Million for the Second Half of 2021

SAN FRANCISCO – July 28, 2021 – LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, today announced financial results for the second quarter ended June 30, 2021.

“Our first full quarter operating a digital bank was the most profitable quarter in LendingClub’s history,” said Scott Sanborn, LendingClub’s CEO. “This is the beginning of a dramatically enhanced earnings trajectory for the business. Our transformation is fueled by our competitive advantages, which include our 3.5 million-plus members, deep data capabilities, marketplace model as well as our more efficient operating platform. Our earnings are being bolstered by our bank, which is generating a new stream of recurring net interest income that is only beginning to contribute to our bottom line results.”

Strong Revenue Growth and Accelerated Return to Profitability Reflects Effective Execution on Strategic Priorities.

•Total sequential revenue growth of 93%, reflecting growth in marketplace revenue and increased net interest income from the retained portfolio of consumer loans.

◦Marketplace revenue grew 86% sequentially, primarily reflecting 105% growth in origination fees and a 132% increase in gains on loan sales as loans sold through the marketplace doubled.

◦Net interest income grew 148% sequentially to $45.9 million, as the bank’s loan portfolio (excluding PPP loans) grew 27% sequentially, propelled by growth in the consumer loan portfolio of 145% to $795M.

◦Deposits grew to $2.5 billion, helping fund growth in the bank’s loan portfolio.

•Sequential origination growth of 84% as we returned to market leadership and leveraged our expanded predictive science and credit decisioning capabilities, which drove a substantial increase in our end-to-end application conversion rate.

•Strong revenue growth and positive operating leverage drove record earnings and an accelerated return to profitability.

•Consolidated net income of $9.4 million included $56.7 million of notable items: $34.6 million of Current Expected Credit Loss (CECL) provisioning which reduced reported earnings and reflects rapid growth in the bank’s loan portfolio, $19.6 million of net revenue deferrals on retained loans, and $2.5 million of non-recurring expenses.

•Entered into a settlement agreement with the Federal Trade Commission (FTC), which concludes the agency’s previously disclosed investigation and litigation. Pursuant to the terms of the settlement, LendingClub will make an $18 million payment for consumer remediation, an amount already accrued for in prior periods.

			Three Months Ended
($ in millions)			June 30, 2021						March 31, 2021						QoQ Change
Loan originations(1)			$	2,722.4					$	1,483.2					$	1,239.2
Total revenue			$	204.4					$	105.8					$	98.6
Consolidated net income (loss)			$	9.4					$	(47.1)					$	56.5

(1)     Includes unsecured personal loans, auto loans, and education and patient finance loans only.

1

Financial Outlook – Raising Full Year Targets

(millions)			Third Quarter 2021			Full Year 2021			Versus Prior Full Year 2021 Guidance
Loan originations(1)			$2.8B to $3.0B			$9.8B to $10.2B			+$2.9B to +$3.0B
Total revenue			$215M to $230M			$750M to $780M			+$240M to +$250M
Consolidated net income (loss)			$10M to $15M			($13M) to ($3M)			+$139M to +$154M

(1)     Includes unsecured personal loans, auto loans, and education and patient finance loans only.

Items Impacting Q2’21 Consolidated Net Income

(millions)			Consolidated Net Income Impact			Per Diluted Share Impact			Commentary
Revenue deferrals, net of amortization			$(19.6)			$0.19			Revenue deferrals, net of deferred costs and amortization during the period
Provision for credit losses			$(34.6)			$0.34			Primarily for consumer loans originated and retained in the quarter
Non-recurring expenses			$(2.5)			$0.02			Non-recurring expenses primarily related to the acquisition of Radius Bank
Total			$(56.7)			$0.56

.

2

About LendingClub

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. LendingClub Bank is the leading digital marketplace bank in the US. Members can gain access to a broad range of financial products and services through a technology-driven platform, designed to help them pay less when borrowing and earn more when saving. Since 2007, more than 3 million members have joined the Club to help reach their financial goals. For more information about LendingClub, visit https://www.lendingclub.com.

Conference Call and Webcast Information

The LendingClub second quarter 2021 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Wednesday, July 28, 2021. A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results. To access the call, please dial +1 (888) 317-6003, or outside the U.S. +1 (412) 317-6061, with conference ID 4824215, ten minutes prior to 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time). An audio archive of the call will be available at http://ir.lendingclub.com. An audio replay will also be available 1 hour after the end of the call until August 4, 2021, by calling +1 (877) 344-7529 or outside the U.S. +1 (412) 317-0088, with Conference ID 10158362. LendingClub has used, and intends to use, its investor relations website, blog (http://blog.lendingclub.com), Twitter handle (@LendingClub) and Facebook page (https://www.facebook.com/LendingClubTeam) as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD.

Contacts

For Investors:

IR@lendingclub.com

Media Contact:

Press@lendingclub.com

Safe Harbor Statement

Some of the statements above, including statements regarding the benefits of our bank acquisition, anticipated future performance and financial results, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “will,” “would” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to continue to attract and retain new and existing customers; competition; overall economic conditions; the regulatory environment, demand for the types of loans facilitated by us; default rates and those factors set forth in the section titled “Risk Factors” in our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, each as filed with the Securities and Exchange Commission, as well as our subsequent reports on Form 10-Q and 10-K each as filed with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

*****

3

LENDINGCLUB CORPORATION

OPERATING HIGHLIGHTS

(In thousands, except percentages or as noted)

(Unaudited)

The information in the following tables is presented for the consolidated LendingClub Corporation, unless specifically noted for LendingClub Bank, the company’s wholly-owned subsidiary:

			As of and for the three months ended																														% Change
			June 30, 2021						March 31, 2021						December 31, 2020						September 30, 2020						June 30, 2020						Q/Q						Y/Y
Operating Highlights:
Noninterest income			$	158,476					$	87,334					$	72,597					$	57,750					$	21,421					81		%				640		%
Net interest income			$	45,905					$	18,506					$	2,899					$	13,294					18,937						148		%				142		%
Total net revenue (1)			$	204,381					$	105,840					$	75,496					$	71,044					$	40,358					93		%				406		%
Consolidated net income (loss)			$	9,371					$	(47,084)					$	(26,655)					$	(34,325)					$	(78,471)					N/M						N/M
EPS – basic			$	0.10					$	(0.49)					$	(0.29)					$	(0.38)					$	(0.87)					N/M						N/M
EPS – diluted			$	0.09					$	(0.49)					$	(0.29)					$	(0.38)					$	(0.87)					N/M						N/M
LendingClub Bank net interest margin			5.51		%				3.33		%				N/A						N/A						N/A
Servicing portfolio AUM (in millions) (2)			$	10,741					$	10,271					$	11,002					$	12,267					$	13,962					5		%				(23)		%
Loan originations (in millions) (3):
Marketplace loans			$	2,182					$	1,139					$	912					$	584					$	326					92		%				569		%
Loan originations held for investment			$	541					$	344					$	—					$	—					$	—					57		%				N/M
Total loan originations			$	2,722					$	1,483					$	912					$	584					$	326					84		%				735		%
Balance Sheet Data:
Loans and leases held for investment, net, excluding PPP loans			$	1,791,492					$	1,414,900					$	—					$	—					$	—					27		%				N/M
PPP loans			$	507,553					$	664,400					$	—					$	—					$	—					(24)		%				N/M
Total loans and leases held for investment, net			$	2,299,045					$	2,079,300					$	—					$	—					$	—					11		%				N/M
Total assets			$	4,370,101					$	4,491,089					$	1,863,293					$	1,979,457					$	2,452,599					(3)		%				78		%
Total deposits			$	2,539,704					$	2,373,437					$	—					$	—					$	—					7		%				N/M
Total liabilities			$	3,607,742					$	3,757,954					$	1,139,122					$	1,245,565					$	1,706,457					(4)		%				111		%
Total equity			$	762,359					$	733,135					$	724,171					$	733,892					$	746,142					4		%				2		%
Asset Quality Ratios:
Allowance for loan and lease losses to loans and leases held for investment			3.00		%				1.71		%				N/A						N/A						N/A
Allowance for loan and lease losses to loans and leases held for investment, excluding PPP loans			3.82		%				2.49		%				N/A						N/A						N/A
Allowance for loan and lease losses to nonaccruing loans and leases held for investment			417.78		%				302.69		%				N/A						N/A						N/A
Nonaccruing loans and leases to loans and leases held for investment			0.72		%				0.56		%				N/A						N/A						N/A
Nonaccruing loans and leases to loans and leases held for investment, excluding PPP loans			0.91		%				0.82		%				N/A						N/A						N/A
LendingClub Bank Capital Ratios:
Common Equity Tier 1 Capital Ratio			18.7		%				20.9		%				N/A						N/A						N/A
Tier 1 Leverage Ratio			13.5		%				12.9		%				N/A						N/A						N/A

N/M – Not meaningful

N/A – Not applicable

(1)     Prior period total net revenue balances have been recast related to credit valuation adjustments on securities available for sale being reclassified from net fair value adjustments to provision for credit losses.

(2)    Includes unsecured personal loans and auto loans only.

(3)    Includes unsecured personal loans, auto loans, and education and patient finance loans only.

4

LENDINGCLUB CORPORATION

LOANS AND LEASES HELD FOR INVESTMENT

(In thousands, except percentages or as noted)

(Unaudited)

			June 30, 2021						March 31, 2021
Unsecured personal			$	776,338					$	321,104
Residential mortgages			152,528						164,002
Secured consumer			326,318						387,244
Other consumer			157						34
Total consumer loans held for investment			1,255,341						872,384
Equipment finance (1)			161,465						145,885
Commercial real estate			294,954						302,445
Commercial and industrial (2)			658,366						794,718
Total commercial loans and leases held for investment			1,114,785						1,243,048
Total loans and leases held for investment			2,370,126						2,115,432
Allowance for loan and lease losses			(71,081)						(36,132)
Loans and leases held for investment, net			$	2,299,045					$	2,079,300

(1)    Comprised of sales-type leases for equipment.

(2)    Includes $507.6 million of Paycheck Protection Program (PPP) loans. The Company determined no allowance for expected credit losses is needed on these loans.

LENDINGCLUB CORPORATION

ALLOWANCE FOR LOAN AND LEASE LOSSES

(In thousands, except percentages or as noted)

(Unaudited)

			Three Months Ended
			June 30, 2021																		March 31, 2021
			Consumer						Commercial						Total						Consumer						Commercial						Total
Allowance for loan and lease losses, beginning of period			$	19,785					$	16,347					$	36,132					$	—					$	—					$	—
Credit loss expense for loans and leases held for investment			34,317						659						34,976						19,182						4,371						23,553
Initial allowance for PCD loans acquired during the period			—						—						—						603						11,837						12,440
Charge-offs			(90)						(156)						(246)						—						—						—
Recoveries			46						173						219						—						139						139
Allowance for loan and lease losses, end of period			$	54,058					$	17,023					$	71,081					$	19,785					$	16,347					$	36,132

5

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

(Unaudited)

			Three Months Ended
			June 30,						March 31,
			2021						2021						Change (%)
Non-interest income:
Marketplace revenue (1)			$	151,735					$	81,727					86		%
Other non-interest income			6,741						5,607						20		%
Total non-interest income			158,476						87,334						81		%
Interest income:
Interest on loans held for sale			8,694						5,157						69		%
Interest and fees on loans and leases held for investment			39,068						15,301						155		%
Interest on retail and certificate loans held for investment at fair value			16,014						20,262						(21)		%
Interest on other loans held for investment at fair value			1,222						1,479						(17)		%
Interest on securities available for sale			2,539						2,235						14		%
Other interest income			190						156						22		%
Total interest income			67,727						44,590						52		%
Interest expense:
Interest on deposits			1,699						1,014						68		%
Interest on short-term borrowings			1,003						1,264						(21)		%
Interest on retail notes, certificates and secured borrowings			16,014						20,262						(21)		%
Interest on Structured Program borrowings			2,668						3,208						(17)		%
Interest on other long-term debt			438						336						30		%
Total interest expense			21,822						26,084						(16)		%
Net interest income			45,905						18,506						148		%
Total net revenue			204,381						105,840						93		%
Provision for credit losses			34,634						21,493						61		%
Non-interest expense:
Compensation and benefits			71,925						64,420						12		%
Marketing			35,107						19,545						80		%
Equipment and software			9,281						7,893						18		%
Occupancy			6,157						6,900						(11)		%
Depreciation and amortization			11,508						11,766						(2)		%
Professional services			11,520						11,603						(1)		%
Other non-interest expense			14,641						12,125						21		%
Total non-interest expense			160,139						134,252						19		%
Income (Loss) before income tax expense			9,608						(49,905)						N/M
Income tax expense (benefit)			237						(2,821)						N/M
Consolidated net income (loss)			$	9,371					$	(47,084)					N/M
Net income (loss) per share attributable to common stockholders – Basic			$	0.10					$	(0.49)
Net income (loss) per share attributable to common stockholders – Diluted			$	0.09					$	(0.49)
Weighted-average common shares – Basic			97,785,089						92,666,169
Weighted-average common shares – Diluted			102,031,088						92,666,169
Net income (loss) per share attributable to preferred stockholders – Basic and Diluted			$	—					$	(0.49)
Weighted-average common shares, as converted – Basic and Diluted			—						2,648,758

N/M – Not meaningful

6

(1)    Marketplace revenue consists of the following:

			Three Months Ended
			June 30, 2021						March 31, 2021						Change (%)
Origination fees			$	113,802					$	55,559					105		%
Servicing fees			22,714						23,166						(2)		%
Gain on sales of loans			19,317						8,323						132		%
Net fair value adjustments			(4,098)						(5,321)						(23)		%
Total marketplace revenue			$	151,735					$	81,727					86		%

7

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS BY SEGMENT

(In thousands, except share and per share data)

(Unaudited)

			Three Months Ended June 30, 2021
			LendingClub Corporation (Parent only)									LendingClub Bank						Intercompany Eliminations						Total
Non-interest income:
Marketplace revenue			$	23,021								$	128,714					$	—					$	151,735
Other non-interest income			4,281									28,340						(25,880)						6,741
Total non-interest income			27,302									157,054						(25,880)						158,476
Interest income:
Interest income			22,402									45,325						—						67,727
Interest expense			(19,850)									(1,972)						—						(21,822)
Net interest income			2,552									43,353						—						45,905
Total net revenue			29,854									200,407						(25,880)						204,381
Reversal of (provision for) credit losses			322									(34,956)						—						(34,634)
Non-interest expense			(47,837)									(138,182)						25,880						(160,139)
Income (Loss) before income tax benefit (expense)			(17,661)									27,269						—						9,608
Income tax benefit (expense)			8,922									12,513						(21,672)						(237)
Consolidated net income (loss)			$	(8,739)								$	39,782					$	(21,672)					$	9,371

			Three Months Ended March 31, 2021
			LendingClub Corporation (Parent only)									LendingClub Bank (1)						Intercompany Eliminations						Total
Non-interest income:
Marketplace revenue			$	45,665								$	36,062					$	—					$	81,727
Other non-interest income			4,098									19,700						(18,191)						5,607
Total non-interest income			49,763									55,762						(18,191)						87,334
Interest income:
Interest income			27,092									17,498						—						44,590
Interest expense			(24,837)									(1,247)						—						(26,084)
Net interest income			2,255									16,251						—						18,506
Total net revenue			52,018									72,013						(18,191)						105,840
Reversal of (provision for) credit losses			2,470									(23,963)						—						(21,493)
Non-interest expense			(76,944)									(75,499)						18,191						(134,252)
Loss before income tax benefit			(22,456)									(27,449)						—						(49,905)
Income tax benefit			2,292									23						506						2,821
Consolidated net loss			$	(20,164)								$	(27,426)					$	506					$	(47,084)

(1)    For the two month period from February 1, 2021 through March 31, 2021, for LendingClub Bank.

8

LENDINGCLUB BANK

NET INTEREST INCOME

(In thousands, except percentages or as noted)

(Unaudited)

			LendingClub Bank
			Three Months Ended June 30, 2021																		Two Months Ended March 31, 2021(1)
			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Interest-earning assets (2)
Cash, cash equivalents and restricted cash			$	551,895					$	186					0.13		%				$	737,555					$	138					0.11		%
Securities available for sale at fair value			165,579						348						0.84		%				232,001						444						1.15		%
Loans held for sale			144,037						5,723						15.89		%				64,720						1,615						14.97		%
Loans and leases held for investment:
Unsecured personal loans			511,787						19,499						15.24		%				146,925						3,392						13.85		%
Secured consumer loans			532,426						5,173						3.89		%				521,399						3,215						3.70		%
Commercial loans and leases			623,735						9,062						5.81		%				605,495						5,119						5.07		%
PPP loans			615,942						5,334						3.46		%				621,292						3,575						3.45		%
Loans and leases held for investment			2,283,890						39,068						6.84		%				1,895,111						15,301						4.84		%
Total interest-earning assets			3,145,401						45,325						5.76		%				2,929,387						17,498						3.58		%
Cash and due from banks			34,612																		42,683
Allowance for loan and lease losses			(51,109)																		(30,357)
Other non-interest earning assets			221,870																		187,785
Total assets			$	3,350,774																	$	3,129,498
Interest-bearing liabilities
Interest-bearing deposits
Checking and money market accounts			$	2,071,112					$	1,618					0.31		%				$	1,735,274					$	913					0.33		%
Savings accounts and certificates of deposit			301,939						81						0.11		%				323,800						101						0.19		%
Interest-bearing deposits			2,373,051						1,699						0.29		%				2,059,074						1,014						0.30		%
Short-term borrowings			2,138						1						0.06		%				1,829						0.3						0.09		%
Advances from PPPLF			312,168						272						0.35		%				405,989						233						0.35		%
Other long-term debt			708						—						—		%				2,834						—						—		%
Total interest-bearing liabilities			2,688,065						1,972						0.29		%				2,469,726						1,247						0.31		%
Non-interest bearing deposits			102,709																		156,034
Other liabilities			100,835																		68,510
Total liabilities			$	2,891,609																	$	2,694,270
Total equity			$	459,165																	$	435,228
Total liabilities and equity			$	3,350,774																	$	3,129,498
Interest rate spread															5.47		%																3.27		%
Net interest income and net interest margin									$	43,353					5.51		%										$	16,251					3.33		%

(1) Prior period amounts have been reclassified to include non-interest earning assets, non-interest bearing liabilities and equity to conform to current period presentation.

(2)    Nonaccrual loans and any related income are included in their respective loan categories.

9

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			Three Months Ended June 30, 2021
			LendingClub Bank																		LendingClub Corporation (Parent only)																		Consolidated LendingClub Corporation(1)
			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Interest-earning assets(2)
Cash, cash equivalents and restricted cash			$	551,895					$	186					0.13		%				$	99,419					$	4					0.02		%				$	642,182					$	190					0.12		%
Securities available for sale at fair value			165,579						348						0.84		%				108,377						2,191						8.09		%				273,956						2,539						3.71		%
Loans held for sale			144,037						5,723						15.89		%				99,408						2,971						11.96		%				243,445						8,694						14.29		%
Loans and leases held for investment:
Unsecured personal loans			511,787						19,499						15.24		%				—						—						—		%				511,787						19,499						15.24		%
Secured consumer loans			532,426						5,173						3.89		%				—						—						—		%				532,426						5,173						3.89		%
Commercial loans and leases			623,735						9,062						5.81		%				—						—						—		%				623,735						9,062						5.81		%
PPP loans			615,942						5,334						3.46		%				—						—						—		%				615,942						5,334						3.46		%
Loans and leases held for investment			2,283,890						39,068						6.84		%				—						—						—		%				2,283,890						39,068						6.84		%
Retail and certificate loans held for investment at fair value			—						—						—		%				448,822						16,014						14.27		%				448,822						16,014						14.27		%
Other loans held for investment at fair value			—						—						—		%				38,662						1,222						12.64		%				38,662						1,222						12.64		%
Total interest-earning assets			3,145,401						45,325						5.76		%				794,688						22,402						11.28		%				3,930,957						67,727						6.89		%
Cash and due from banks and restricted cash			34,612																		111,274																		144,897
Allowance for loan and lease losses			(51,109)																		—																		(51,109)
Other non-interest earning assets			221,870																		749,674																		447,826
Total assets			$	3,350,774																	$	1,655,636																	$	4,472,571
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts			$	2,071,112					$	1,618					0.31		%				$	—					$	—					—		%				$	2,071,112					$	1,618					0.31		%
Savings accounts and certificates of deposit			301,939						81						0.11		%				—						—						—		%				301,939						81						0.11		%
Interest-bearing deposits			2,373,051						1,699						0.29		%				—						—						—		%				2,373,051						1,699						0.29		%
Short-term borrowings			2,138						1						0.06		%				77,373						1,002						5.19		%				79,511						1,003						5.05		%
Advances from PPPLF			312,168						272						0.35		%				—						—						—		%				312,168						272						0.35		%
Retail notes, certificates and secured borrowings			—						—						—		%				449,057						16,014						14.27		%				449,057						16,014						14.27		%
Structured Program borrowings			—						—						—		%				121,738						2,668						8.77		%				121,738						2,668						8.77		%
Other long-term debt			708						—						—		%				15,696						166						4.22		%				16,404						166						4.04		%
Total interest-bearing liabilities			2,688,065						1,972						0.29		%				663,864						19,850						11.96		%				3,351,929						21,822						2.61		%

10

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			Three Months Ended June 30, 2021
			LendingClub Bank																		LendingClub Corporation (Parent only)																		Consolidated LendingClub Corporation(1)
			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Non-interest bearing deposits			102,709																		—																		92,588
Other liabilities			100,835																		225,521																		276,723
Total liabilities			$	2,891,609																	$	889,385																	$	3,721,240
Total equity			$	459,165																	$	766,251																	$	751,331
Total liabilities and equity			$	3,350,774																	$	1,655,636																	$	4,472,571
Interest rate spread															5.47		%																(0.68)		%																4.29		%
Net interest income and net interest margin									$	43,353					5.51		%										$	2,552					1.28		%										$	45,905					4.67		%

(1)     Consolidated presentation reflects intercompany eliminations.

(2)    Nonaccrual loans and any related income are included in their respective loan categories.

11

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			Three Months Ended March 31, 2021(1)(2)
			LendingClub Bank																		LendingClub Corporation (Parent only)																		Consolidated LendingClub Corporation(3)
			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Interest-earning assets(4)
Cash, cash equivalents and restricted cash			$	737,555					$	138					0.11		%				$	216,698					$	18					0.03		%				$	918,148					$	156					0.10		%
Securities available for sale at fair value			232,001						444						1.15		%				130,620						1,791						5.48		%				362,621						2,235						2.71		%
Loans held for sale			64,720						1,615						14.97		%				133,872						3,542						10.58		%				198,592						5,157						12.01		%
Loans and leases held for investment:
Unsecured personal loans			146,925						3,392						13.85		%				—						—						—		%				146,925						3,392						13.85		%
Secured consumer loans			521,399						3,215						3.70		%				—						—						—		%				521,399						3,215						3.70		%
Commercial loans and leases			605,495						5,119						5.07		%				—						—						—		%				605,495						5,119						5.07		%
PPP loans			621,292						3,575						3.45		%				—						—						—		%				621,292						3,575						3.45		%
Loans and leases held for investment			1,895,111						15,301						4.84		%				—						—						—		%				1,895,111						15,301						4.84		%
Retail and certificate loans held for investment at fair value			—						—						—		%				574,158						20,262						14.12		%				574,158						20,262						14.12		%
Other loans held for investment at fair value			—						—						—		%				46,212						1,479						12.80		%				46,212						1,479						12.80		%
Total interest-earning assets			2,929,387						17,498						3.58		%				1,101,560						27,092						9.84		%				3,994,842						44,590						5.34		%
Cash and due from banks and restricted cash			42,683																		95,190																		137,216
Allowance for loan and lease losses			(30,357)																		—																		(30,357)
Other non-interest earning assets			187,785																		618,194																		326,040
Total assets			$	3,129,498																	$	1,814,944																	$	4,427,741
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts			$	1,735,274					$	913					0.33		%				$	—					$	—					—		%				$	1,735,274					$	913					0.33		%
Savings accounts and certificates of deposit			323,800						101						0.19		%				—						—						—		%				323,800						101						0.19		%
Interest-bearing deposits			2,059,074						1,014						0.30		%				—						—						—		%				2,059,074						1,014						0.30		%
Short-term borrowings			1,829						0.3						0.09		%				96,989						1,264						5.21		%				98,818						1,264						5.12		%
Advances from PPPLF			405,989						233						0.35		%				—						—						—		%				405,989						233						0.35		%
Retail notes, certificates and secured borrowings			—						—						—		%				574,192						20,262						14.12		%				574,192						20,262						14.12		%
Structured Program borrowings			—						—						—		%				143,045						3,208						8.97		%				143,045						3,208						8.97		%
Other long-term debt			2,834						—						—		%				15,771						103						2.61		%				18,605						103						2.21		%
Total interest-bearing liabilities			2,469,726						1,247						0.31		%				829,997						24,837						11.97		%				3,299,723						26,084						3.24		%

12

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			Three Months Ended March 31, 2021(1)(2)
			LendingClub Bank																		LendingClub Corporation (Parent only)																		Consolidated LendingClub Corporation(3)
			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Non-interest bearing deposits			156,034																		—																		119,272
Other liabilities			68,510																		245,177																		286,907
Total liabilities			$	2,694,270																	$	1,075,174																	$	3,705,902
Total equity			$	435,228																	$	739,770																	$	721,839
Total liabilities and equity			$	3,129,498																	$	1,814,944																	$	4,427,741
Interest rate spread															3.27		%																(2.13)		%																2.11		%
Net interest income and net interest margin									$	16,251					3.33		%										$	2,255					0.82		%										$	18,506					2.67		%

(1)    For the two month period from February 1, 2021 through March 31, 2021, for LendingClub Bank.

(2) Prior period amounts have been reclassified to include non-interest earning assets, non-interest bearing liabilities and equity to conform to current period presentation.

(3)     Consolidated presentation reflects intercompany eliminations.

(4)    Nonaccrual loans and any related income are included in their respective loan categories.

13

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands, Except Share and Per Share Amounts)

(Unaudited)

			June 30, 2021						December 31, 2020
Assets
Cash and due from banks			$	55,773					$	5,197
Interest-bearing deposits in banks			512,873						519,766
Total cash and cash equivalents			568,646						524,963
Restricted cash			123,896						103,522
Securities available for sale at fair value (includes $272,869 and $159,164 at amortized cost, respectively)			277,505						142,226
Loans held for sale (includes $180,061 and $121,902 at fair value, respectively)			226,328						121,902
Loans and leases held for investment			2,370,126						—
Allowance for loan and lease losses			(71,081)						—
Loans and leases held for investment, net			2,299,045						—
Retail and certificate loans held for investment at fair value			391,362						636,686
Other loans held for investment at fair value			34,523						49,954
Property, equipment and software, net			94,676						96,641
Goodwill			75,717						—
Other assets			278,403						187,399
Total assets			$	4,370,101					$	1,863,293
Liabilities and Equity
Deposits:
Interest-bearing			$	2,445,518					$	—
Noninterest-bearing			94,186						—
Total deposits			2,539,704						—
Short-term borrowings			68,781						104,989
Advances from Paycheck Protection Program Liquidity Facility (PPPLF)			195,481						370,086
Retail notes, certificates and secured borrowings at fair value			391,384						507,203
Payable on Structured Program borrowings			110,871						133,499
Other long-term debt			15,650						—
Other liabilities			285,871						244,551
Total liabilities			3,607,742						1,139,122
Equity
Series A Preferred stock, $0.01 par value; 1,200,000 shares authorized; 0 and 43,000 shares issued and outstanding, respectively			—						—
Common stock, $0.01 par value; 180,000,000 shares authorized; 98,601,148 and 88,149,510 shares issued and outstanding, respectively			986						881
Additional paid-in capital			1,580,518						1,508,020
Accumulated deficit			(823,927)						(786,214)
Treasury stock, at cost; 4,251 and 0 shares, respectively			(92)						—
Accumulated other comprehensive income			4,874						1,484
Total equity			762,359						724,171
Total liabilities and equity			$	4,370,101					$	1,863,293

14

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS BY SEGMENT

(In Thousands, Except Share and Per Share Amounts)

(Unaudited)

			LendingClub Corporation (Parent only)												LendingClub Bank												Intercompany Eliminations												Total
			June 30, 2021						December 31, 2020						June 30, 2021						December 31, 2020						June 30, 2021						December 31, 2020						June 30, 2021						December 31, 2020
Assets
Total cash and cash equivalents			$	72,458					$	524,963					$	493,915					$	—					$	2,273					$	—					$	568,646					$	524,963
Restricted cash			127,781						103,522						—						—						(3,885)						—						123,896						103,522
Securities available for sale at fair value			95,378						142,226						182,127						—						—						—						277,505						142,226
Loans held for sale			92,509						121,902						133,819						—						—						—						226,328						121,902
Loans and leases held for investment, net			—						—						2,299,045						—						—						—						2,299,045						—
Retail and certificate loans held for investment at fair value			391,362						636,686						—						—						—						—						391,362						636,686
Other loans held for investment at fair value			34,523						49,954						—						—						—						—						34,523						49,954
Property, equipment and software, net			78,288						96,641						16,388						—						—						—						94,676						96,641
Investment in subsidiary			483,696						—						—						—						(483,696)						—						—						—
Goodwill			—						—						75,717						—						—						—						75,717						—
Other assets			189,567						187,399						156,886						—						(68,050)						—						278,403						187,399
Total assets			1,565,562						1,863,293						3,357,897						—						(553,358)						—						4,370,101						1,863,293
Liabilities and Equity
Total deposits			—						—						2,541,317						—						(1,613)						—						2,539,704						—
Short-term borrowings			68,460						104,989						321						—						—						—						68,781						104,989
Advances from PPPLF			—						—						195,481						—						—						—						195,481						—
Retail notes, certificates and secured borrowings at fair value			391,384						636,774						—						—						—						—						391,384						636,774
Payable on Structured Program borrowings			110,871						152,808						—						—						—						—						110,871						152,808
Other long-term debt			15,650						—						—						—						—						—						15,650						—
Other liabilities			206,525						244,551						125,790						—						(46,444)						—						285,871						244,551
Total liabilities			792,890						1,139,122						2,862,909						—						(48,057)						—						3,607,742						1,139,122
Total equity			772,672						724,171						494,988						—						(505,301)						—						762,359						724,171
Total liabilities and equity			$	1,565,562					$	1,863,293					$	3,357,897					$	—					$	(553,358)					$	—					$	4,370,101					$	1,863,293

15

LENDINGCLUB CORPORATION

SUPPLEMENTAL FINANCIAL INFORMATION

(In thousands)

(Unaudited)

The following table is provided to delineate between the assets and liabilities belonging to our member payment dependent self-directed retail program (Retail Program) note holders and certain VIEs that we are required to consolidate in accordance with GAAP. Such assets are not legally ours and the associated liabilities are payable only from the cash flows generated by those assets (i.e. Pass-throughs). As such, these debt holders do not have a secured interest in any other assets of LendingClub. We believe this is a useful measure because it illustrates the overall financial stability and operating leverage of the Company.

			June 30, 2021															December 31, 2020
			Retail Program (1)			Consolidated VIEs (2)(4)			All Other LendingClub (3)			Condensed Consolidated Balance Sheet						Retail Program (1)			Consolidated VIEs (2)(4)			All Other LendingClub (3)			Condensed Consolidated Balance Sheet
Assets
Total cash and cash equivalents			$	—		$	—		$	568,646		$	568,646					$	—		$	—		$	524,963		$	524,963
Restricted cash			—			14,156			109,740			123,896						—			13,473			90,049			103,522
Securities available for sale at fair value			—			—			277,505			277,505						—			—			142,226			142,226
Loans held for sale (4)			—			65,305			161,023			226,328						—			92,802			29,100			121,902
Loans and leases held for investment, net			—			—			2,299,045			2,299,045						—			—			—			—
Retail and certificate loans held for investment at fair value			367,552			23,810			—			391,362						584,066			52,620			—			636,686
Other loans held for investment at fair value (4)			—			31,149			3,374			34,523						—			46,120			3,834			49,954
Property, equipment and software, net			—			—			94,676			94,676						—			—			96,641			96,641
Goodwill			—			—			75,717			75,717						—			—			—			—
Other assets			2,323			647			275,433			278,403						3,797			1,134			182,468			187,399
Total assets			$	369,875		$	135,067		$	3,865,159		$	4,370,101					$	587,863		$	206,149		$	1,069,281		$	1,863,293
Liabilities and Equity
Total deposits			$	—		$	—		$	2,539,704		$	2,539,704					$	—		$	—		$	—		$	—
Short-term borrowings			—			—			68,781			68,781						—			—			104,989			104,989
Advances from PPPLF			—			—			195,481			195,481						—			—			—			—
Retail notes, certificates and secured borrowings at fair value			367,552			23,810			22			391,384						584,066			52,620			88			636,774
Payable on Structured Program borrowings (4)			—			110,871			—			110,871						—			152,808			—			152,808
Other long-term debt			—			—			15,650			15,650						—			—			—			—
Other liabilities			2,323			386			283,162			285,871						3,797			721			240,033			244,551
Total liabilities			369,875			135,067			3,102,800			3,607,742						587,863			206,149			345,110			1,139,122
Total equity			—			—			762,359			762,359						—			—			724,171			724,171
Total liabilities and equity			$	369,875		$	135,067		$	3,865,159		$	4,370,101					$	587,863		$	206,149		$	1,069,281		$	1,863,293

(1)    Represents loans held for investment at fair value that are funded directly by our Retail Program notes. The liabilities are only payable from the cash flows generated by the associated assets. We do not assume principal or interest rate risk on loans facilitated through our lending marketplace that are funded by our Retail Program because loan balances, interest rates and maturities are matched and offset by an equal balance of notes with the exact same interest rates and maturities. We do not retain any economic interests from our Retail Program. Interest expense on Retail Program notes of $33.2 million and $53.8 million was equally matched and offset by interest income from the related loans of $33.2 million and $53.8 million for the first halves of 2021 and 2020, respectively, resulting in no net effect on our net interest income.

(2)    Represents assets and equal and offsetting liabilities of certain VIEs that we are required to consolidate in accordance with GAAP, but which are not legally ours. The liabilities are only payable from the cash flows generated by the associated assets. The creditors of the VIEs have no recourse to the general credit of the Company. Interest expense on these liabilities owned by third parties of $9.0 million and $20.6 million was equally matched and offset by interest income on the loans of $9.0 million and $20.6 million for the first halves of 2021 and 2020, respectively, resulting in no net effect on our net interest income. Economic interests held by LendingClub, including retained interests, residuals and equity of the VIEs, are reflected in “Loans held for sale,” “Other loans held for investment at fair value” and

16

“Restricted cash,” respectively, within the “All Other LendingClub” column.

(3)    Represents all other assets and liabilities of LendingClub, other than those related to our Retail Program and certain consolidated VIEs, but includes any economic interests held by LendingClub, including retained interests, residuals and equity of those consolidated VIEs.

(4)    The Company has sponsored Structured Program transactions that have been consolidated, resulting in an increase to “Other loans held for investment at fair value,” “Loans held for sale” and the related “Payable on Structured Program borrowings.”

17