Goldman Conference

December 4, 2012
Disclaimer
Some of the statements in this presentation are "forward-looking statements“ or
are projections. The words "anticipate," "believe," "estimate," "expect,"
"intend," "may," "plan," "predict," "project," "will," "would" and similar
expressions may identify forward-looking statements, although not all forward-
looking statements contain these identifying words. The Company 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. The
Company does 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. Past performance is no guarantee of future results.
Investments may lose value over time and no return is guaranteed.

Information presented is not an offer to sell securities or the solicitation of an

offer to buy securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such jurisdiction.

Confidential 2
 Corporate Overview

Confidential 3
Key Metrics

Lending Club originates loans to prime consumers and lets investors

fund the loans at the time of origination

 130 employees1
 $1Bn+ loans funded to date
 $83M new loan origination per month2
 $48M annual run-rate revenue3
 Raised $100M+ in equity capital
 $58M in cash & securities4
 No debt
 Cash flow positive5

1. As of 11/16/2012
2. As of October 2012
3. Based on annualized October 2012 management reporting (non-GAAP) revenue
4. As of 9/30/12 - includes restricted cash
5. Fiscal Quarter ended 9/30/12

Confidential 4
Lending Club Overview

Loans Funded by Investors

Confidential 5
Model Lowers Intermediation Costs
Traditional
Lender

Operating Expense1 Operating Expense 1,2

5-7% 2.0%

Branch Infrastructure
Technology Drives Cost Down
Reserve Requirements

Customer Acquisition
Customer Acquisition

Underwriting
Underwriting

Origination Origination

Servicing
Servicing

1. Operating expenses as a percentage of outstanding loan balance

2. October 2012 annualized operating expenses as a percentage of outstanding loan balances assuming no growth in origination volume

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Experienced, Diverse Team
Management
Renaud Laplanche Carrie Dolan Scott Sanborn
CEO CFO CMO
Founded MatchPoint and sold to Oracle Fmr. Corporate Treasurer, Schwab Corp. and Fmr. Head of Mktg. Home Shopping Network
Fmr. securities lawyer at Cleary Gottlieb CFO Schwab Bank Fmr. CMO & President of Red Envelope
Fmr. CFO Chevron Credit Bank Fmr. CMO eHealth

Chaomei Chen John MacIlwaine Jason Altieri

Chief Risk Officer Chief Technology Officer General Counsel
Fmr. Chief Risk Officer at JPMorgan Chase Fmr. CTO Green Dot, Morgan Stanley Dean Fmr. Partner at SNR-Denton
Card Services Witter and Head of Global Development at Fmr. Partner at Mintz Levin
Visa

Board of Directors
Renaud Laplanche John Mack Mary Meeker
CEO Fmr. Chairman & CEO, Morgan Stanley Investment Partner, Kleiner Perkins
Lending Club Fmr. CEO, Credit Suisse First Boston Fmr. Equity Research, Morgan Stanley

Rebecca Lynn Dan Ciporin Jeff Crowe

Partner, Morgenthaler Ventures General Partner, Canaan Partners General Partner, Norwest Venture Partners
Fmr. VP Marketing, NextCard Fmr. EVP, MasterCard Fmr.. CEO Edify

Leading Investors

Confidential 7
 $ Millions

0
100
200
300
400
500
600
700
800
900
1,000
June-07

Confidential
August-07
October-07
December-07
February-08
April-08
June-08
August-08
October-08
December-08
February-09
April-09
June-09
August-09
October-09
December-09
February-10
April-10
November 5th: $1,000,000,000

June-10
August-10
October-10
Cumulative Originations

December-10
February-11
April-11
June-11
August-11
October-11
December-11
February-12
April-12
June-12
February 2012: $500M

August-12
October-12
8
Monthly Originations

80

70

60
$ Millions

50

40

30

20

10

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Relative Size of U.S. Consumer Credit
($ in Billions)
1,2
$15,953

1
$2,737
1
$852
$1
Credit Card Consumer Credit All Consumer Credit
(Non-Housing)
1. Federal Reserve G.19 report published November 2012
2. Mortgage Debt Outstanding report as of September 2012

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 Borrower

Confidential 11
Prime Borrowers Choose Lending Club

Borrower Profile1
 715 FICO  32 years old

 $68,831 income  $12,159 loan

Balance Transfer New Purchase

Risk-Based Pricing Provides Lower Need Credit, not Credit Card

Rates to Best Credit Quality Borrowers Low Cost & Convenience Drive Adoption

Low Rates Convenience Not a Bank

Isolate Lower Risks Online / Paperless Customer Friendly

Technology Drives Costs Down 24x7 No Hidden Fees

1. Borrower averages as of November 8, 2012

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 Ranking Power of Our Pricing Model
1

1. Retroactive analysis from Q2-Q4 2010 using actual Lending Club data and inferred third party data
2. KS score measures the predictive power to rank risk where a higher score should result in better credit performance

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 Investor

Confidential 14
Developing Ecosystem Supports Growth

2009 Current Target

External External
Ecosystem Ecosystem

External
Ecosystem
Self Directed High Net Worth / 3rd Party Credit Structure Institutional Direct
Retail Family Offices Managers

Confidential 15
How It Works
Investors build portfolios by investing in tens or hundreds of 
We risk rank each loan 
fractions of loans selected based on investment objectives and 
into one of 7 grades 
(each with 5 subgrades)
risk parameters

A 7.51%
Grade

B 11.62%
Grade

C
Risk / Reward

14.37%
Grade

D 17.03%
Grade

E 19.18%
Grade

F 21.48%
Grade

G 22.31%
Grade

Average interest rates as of 11/8/2012

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High Returns & Low Volatility

Net Annualized Returns by Grade Since Inception

4Net Annual Return of individual grades as of November 8, 2012.

5Top 50% and Bottom 50% are dollar-weighted averages of individual loan performances for each grade calculated from either the best
performing half or the worst performing half, respectively, of all loans outstanding in each grade from inception to 8/08/12 (the "Period"),
measured from inception through 11/08/12. In practice, if a portfolio of Notes was created from the worst performing half of the loans in a specific
grade issued during the Period, the return would be roughly equivalent to the Bottom 50% of that specific grade as depicted in the chart above.
Conversely, if a portfolio of Notes was created from the best performing half of the loans in a specific grade issued during the Period, the return
would be roughly equivalent to the Top 50% of that specific grade as reported in the chart above. To be included in the Net Annualized Returns
calculation, a Note must have been originated at least 3 months prior to the calculation date.

Confidential 17
Preservation of Capital

Return calculations based on accounts that have invested in 800 or more unique borrowers. 800 Notes can be purchased with $20,000.
All data as of November 8, 2012. The availability of Notes/unique borrowers is dependent on your investment criteria. There is no
guarantee that you will be able to invest in 800 or more Notes/unique borrowers promptly, if at all. The foregoing is not directed to the
specific investment objectives, financial situation or investment needs of any particular person and should not be considered investment
advice. You should consider reviewing the prospectus with a financial advisor prior to investing. Past performance is no guarantee of
future results.

Confidential 18
 Regulatory & Financial

Confidential 19
Regulatory Overview

SEC + 
FDIC UT DFI State 
Regulators

Notes
Self Directed 
$ Investors

Federal +  Servicing
State 
Regulators

SEC

Funds & 
SEC (IA)
Managing SMAs

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 Strong Revenue Growth
Annual Monthly
$MM $MM

Y/Y Growth 179% 117% 181% M/M 8.3% 14.9% 17.4% 14.6% 9.8% 8.9%

Note: Fiscal year ends March 31

FY’13 includes actuals from April 2012 – October 2012

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Operating Efficiency
Borrower + Investor Acquisition Costs Total Operating Expenses
As a % of Originations As a % of Revenue

Origination & Servicing

Marketing & Sales
G&A Expense

Note: Fiscal year ends March 31

FY’13 includes actuals from April 2012 – October 2012

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Operating Margin & Cash

Operating Margin Ending Cash

% of Revenue $MM

Unrestricted
Restricted

Note: Fiscal year ends March 31

Non-GAAP operating margin excludes share-based compensation, depreciation and amortization

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Target Operating Model Non GAAP

FY 2012 FY 2013
Target Model
(est.)

Revenue 4.87% 4.75% 4.70% - 4.85%

% of Originations

Origination & Servicing Cost 1.55% 0.97% 0.60% - 0.70%

% of Originations

Marketing & Sales 2.52% 1.63% 1.65% - 1.75%

% of Originations

Contribution Margin -6% 34% 50%

% of Revenue

Operating Margin -71% -3% 35%

% of Revenue

Note: Fiscal year ends March 31

Non-GAAP operating margin excludes share-based compensation, depreciation and amortization

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Summary

Fast Growth More than doubling each year for the last 3 years

Large Market Trillions of dollars

Cash flow positive while growing fast and investing

Positive Cash Flow heavily in the business

Limited Competition No meaningful direct competition

High Entry Barriers Regulatory approvals, technology, track record

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