Oportun Financial urges stockholders to vote for director nominees

Oportun issued a letter to stockholders detailing the “progress Oportun’s experienced management team and Board of Directors have made in driving financial and operational performance.” The company said, “The letter highlights information critical for stockholders to know ahead of Oportun’s upcoming 2025 Annual Meeting of Stockholders (the “Annual Meeting”), including that: Oportun’s decisive actions to improve credit outcomes, strengthen business economics and identify high-quality originations are yielding concrete results as reflected in the Company’s Q1 2025 performance: Aggregate originations grew by nearly 40% year-over-year; Adjusted operating expense ratio reached 13.3%, its second lowest ever as a public company; and Strong credit metrics, including a fifth consecutive year-over-year decline in 30+ day delinquency rate. The Company continues to expect 2025 adjusted EPS guidance of $1.10 to $1.30 reflecting year-over-year growth of 53% to 81%. The Company’s strong momentum has translated to total stockholder returns that have significantly outperformed its peers and the broader markets year-to-date, over the last six months and over the past year. Oportun’s Board is uniquely qualified to oversee continued value creation, with critical expertise in areas that are essential to Oportun’s business. Findell Capital Management’s proposal to remove CEO Raul Vazquez from the Board would jeopardize the continuity, leadership and business insight needed to continue the Company’s significant progress, and would send a disruptive message to employees and stakeholders. Compared to Mr. Vazquez’s proven leadership and deep understanding of Oportun’s business, Findell Capital’s nominee falls short of the necessary experience and expertise needed to effectively oversee the execution of the Company’s strategic objectives.”