SoFi Technologies, Inc. Reports THIRD QUARTER 2021 RESULTS

1 THIRD QUARTER2021 RESULTSSoFi Technologies, Inc. Reports02 SOFI TECHNOLOGIES, INC. Reports THIRD QUARTER 2021 RESULTSSAN FRANCISCO, Calif (BUSINESS WIRE) November 10, 2021 SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that allows members to borrow, save, spend, invest and protect their money, reported financial RESULTS today for its THIRD QUARTER ended September 30, 2021. I believe we ve accomplished more at SoFi across our uniquely diversified platform of mobile-first financial services products over the past year than many other companies will achieve in a lifetime, said Anthony Noto, CEO of SoFi Technologies, Inc.

2 Our strategy to build the first digital one-stop shop that meets our members financial needs for every major event in their lives, and all of the days in between, continues to pay off. Through successful execution, we ve grown, broadened, and diversified our three business segments, resulting in another QUARTER of record revenue and a fifth consecutive QUARTER of positive EBITDA even as the student lending environment remained depressed, and economic and market conditions remained volatile. The THIRD QUARTER was our second-highest ever for both member and product growth. Total members grew 96% year-over-year, to million, with 377,000 additions up 35% from 279,000 in the second QUARTER .

3 Total products grew 108% year-over-year, to nearly million, with 600,000 additions up 24% from 483,000 in the second QUARTER . And we continued to leverage our Financial Services Productivity Loop (FSPL) strategy, with SoFi Invest, SoFi Money and SoFi Credit Card first members driving 79% of our new member growth and 73% of cross-buy in the QUARTER . I believe we ve accomplished more at SoFi across our uniquely diversified platform of mobile-first financial services products over the past year than many other companies will achieve in a lifetime. RECORD GAAP AND ADJUSTED REVENUE AND 5TH CONSECUTIVE QUARTER OF POSITIVE ADJUSTED EBITDATOTAL YEAR-OVER-YEAR MEMBER GROWTH OF 96% TO MILLIONADDED 377,000 NEW MEMBERS, SECOND-HIGHEST QUARTERLY INCREASE IN COMPANY HISTORY TOTAL PRODUCTS UP 108% TO MILLION, 5TH CONSECUTIVE QUARTER OF YEAR-OVER-YEAR TRIPLE-DIGIT GROWTHSOFI MONEY, SOFI INVEST AND SOFI CREDIT CARD DROVE 79% OF NEW MEMBER GROWTH AND 73% OF CROSS-BUY03 SOFI TECHNOLOGIES, INC.

4 Reports THIRD QUARTER 2021 RESULTST hree Months Ended September 30,% Change($ in thousands)20212020 Consolidated GAAPT otal net revenue$272,006$200,78735%Net loss(30,047)(42,878)(30)%Consolidated Non-GAAPA djusted net revenue(1)$277,190$216,75928%Adjusted EBITDA(1)10,25633,509(69)%_____(1) Adjusted net revenue and adjusted EBITDA are non-GAAP financial measures. For more information and reconciliations to the most comparable GAAP measures, see Non-GAAP Financial Measures and Table 2 to the Financial Tables RESULTS summaryNoto continued: We hit several new milestones across our businesses. THIRD QUARTER Lending revenue reached a new high, driven primarily by record funded volume and revenue in our personal loans business a testament to our success over the past four years in diversifying this segment beyond Student Loan Refinancing, where volumes remain at less than half their pre-Covid levels.

5 In Financial Services, our products, many of which are less than three years old, grew 179% year-over-year, to million. In our Technology Platform segment, the 13 new clients we added brought our year-to-date total to 35, and we finished the QUARTER with 89 million client-enabled accounts, up 80% from the same prior-year QUARTER . We also completed both a comprehensive update of Galileo s on-premise technology, and the build-out of a new cloud-based modern card issuing and payment platform, where we are now onboarding new clients. And as a company, SoFi exceeded $1 billion in annualized run-rate revenue and now has $ billion in capital. In the last year, we have raised $ billion, including $ billion in a combined private financing led by T.

6 Rowe Price, a PIPE and public listing, and $ billion via a convertible debt offering at a 0% coupon in early October. In summary, the THIRD QUARTER of 2021 capped a year-long sprint of great milestones, and we now have more flexibility than ever to execute and fund our long-term strategic growth plans and position SoFi as the winner takes most in financial technology. Total GAAP net revenue of $ million in the THIRD QUARTER of 2021 increased 35% from the same prior-year period. On an adjusted basis, net revenue for the THIRD QUARTER of 2021 was $ million, a record for us and 28% above last year s THIRD QUARTER total of $ million. Strength in all three of SoFi s business segments drove the growth in these recorded a $ million GAAP net loss for the THIRD QUARTER of 2021, an improvement of nearly $13 million from last year s THIRD QUARTER net loss of $ million.

7 THIRD QUARTER adjusted EBITDA of $ million was positive for the fifth consecutive Results04 SOFI TECHNOLOGIES, INC. Reports THIRD QUARTER 2021 RESULTSC ontinued new product enhancements, together with more effective execution of our marketing, branding and FSPL strategies, drove another QUARTER of robust growth in both members and total products. As SoFi solidifies itself as a one-stop shop for digital financial products that meet all of our members financial needs throughout a lifetime, this creates a compounding effect on member referrals, greater adoption of multiple products and cost-efficient scaling of our broad-based offering. The efficiencies we gain through the FSPL allow us to invest more in new products and enhancements and better pricing, which completes the virtuous circle for SoFi and our members.

8 During the THIRD QUARTER , we launched a series of marketing campaigns designed to increase SoFi s brand awareness, members and products. The SoFi Money Moves brand campaign we debuted during the US Open tennis tournament in September and the regular NFL season has significantly raised SoFi s profile. This campaign includes an integrated, cross-platform, multi-channel marketing program that leverages nationally televised NFL games and events at SoFi Stadium, our most comprehensive digital influencer program to date, a SoFi Money Moves social video contest on TikTok, and a new referral members grew 96% year-over-year to million, from million.

9 This marked SoFi s second largest QUARTER of new member additions at approximately 377,000, and a 35% increase from the approximately 279,000 new members added in the second products more than doubled year-over-year, to million from million, representing SoFi s fifth consecutive QUARTER of triple-digit annual growth. We added approximately 600,000 new products, which was our second-highest quarterly total ever, and up 24% from approximately 483,000 new products added in the prior QUARTER . As important, our sequential product growth exceeded our member growth in absolute terms in the THIRD QUARTER , indicating high product satisfaction and greater willingness to adopt additional products, further reinforcing the value of our FSPL and Product GrowthMembersProductsIn thousandsIn thousands1,5011,8512,2812,5602,937Q3'20Q 4'20Q1'21Q2'21Q3'212,0532,5243,1853,6674 ,268Q3'20Q4'20Q1'21Q2'21Q3'2105 SOFI TECHNOLOGIES, INC.

10 Reports THIRD QUARTER 2021 RESULTSIn the Financial Services segment, growth of SoFi Invest and SoFi Money offerings primarily drove the 179% year-over-year product increase in the segment, to more than million from million. At QUARTER end, total Financial Services segment products were more than triple the number of Lending products. Lending products rose across all loan types year-over-year in the THIRD QUARTER , with personal and student loans the largest drivers of the overall 15% increase. Technology Platform accounts increased by 80% year-over-year in the THIRD QUARTER of 2021, to nearly 89 million, due to both diverse new client additions and growth among existing Galileo milestones achieved through our integrated marketing, product and FSPL efforts include:Note: For additional information on our company metrics, see Table 5 in the Financial Tables herein.