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Oportun Comments on Director Nominations

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Oportun (OPRT) has acknowledged receiving a notice from Findell Capital Management nominating two directors for election to the company's Board at the 2025 Annual Meeting of Shareholders. The Board highlighted its achievements over the past three years, including improved credit performance and high-quality originations.

The company emphasized its recent Board refreshment process, which included input from Findell and resulted in the appointment of four new independent directors in the last 14 months. The current Board members possess expertise in critical areas such as credit and risk management, finance, mobile technologies, software, marketing, and regulatory matters.

The Nominating and Governance Committee will evaluate Findell's nominees and make recommendations to shareholders. The company has retained Wilson Sonsini Goodrich & Rosati as legal advisor and FGS Global as strategic communications advisor.

Oportun (OPRT) ha confermato di aver ricevuto una comunicazione da Findell Capital Management che nomina due direttori per l'elezione nel Consiglio di Amministrazione della società durante l'Assemblea Annuale degli Azionisti del 2025. Il Consiglio ha messo in evidenza i suoi successi negli ultimi tre anni, inclusi il miglioramento delle performance creditizie e le origini di alta qualità.

La società ha sottolineato il recente processo di rinnovamento del Consiglio, che ha incluso il contributo di Findell e ha portato alla nomina di quattro nuovi direttori indipendenti negli ultimi 14 mesi. I membri attuali del Consiglio possiedono competenze in aree critiche come la gestione del credito e del rischio, la finanza, le tecnologie mobili, il software, il marketing e le questioni normative.

Il Comitato di Nomina e Governance valuterà i candidati di Findell e fornirà raccomandazioni agli azionisti. La società ha incaricato Wilson Sonsini Goodrich & Rosati come consulente legale e FGS Global come consulente per le comunicazioni strategiche.

Oportun (OPRT) ha reconocido haber recibido un aviso de Findell Capital Management nominando a dos directores para la elección en la Junta de la compañía en la Junta Anual de Accionistas de 2025. La Junta destacó sus logros en los últimos tres años, incluyendo la mejora en el desempeño crediticio y las originaciones de alta calidad.

La empresa enfatizó su reciente proceso de renovación de la Junta, que incluyó la opinión de Findell y resultó en la designación de cuatro nuevos directores independientes en los últimos 14 meses. Los miembros actuales de la Junta poseen experiencia en áreas críticas como la gestión de crédito y riesgo, finanzas, tecnologías móviles, software, marketing y asuntos regulatorios.

El Comité de Nominaciones y Gobernanza evaluará a los nominados de Findell y hará recomendaciones a los accionistas. La empresa ha contratado a Wilson Sonsini Goodrich & Rosati como asesor legal y a FGS Global como asesor en comunicaciones estratégicas.

Oportun (OPRT)Findell Capital Management로부터 2025년 주주 총회에서 회사 이사회에 선출할 두 명의 이사를 지명하는 통지를 받았음을 확인했습니다. 이사회는 지난 3년 동안의 성과를 강조했으며, 여기에는 신용 성과 개선과 고품질의 원천이 포함됩니다.

회사는 Findell의 의견을 반영한 최근 이사회 갱신 과정을 강조하며, 지난 14개월 동안 4명의 새로운 독립 이사를 임명했습니다. 현재 이사회 구성원들은 신용 및 위험 관리, 재무, 모바일 기술, 소프트웨어, 마케팅 및 규제 문제와 같은 중요한 분야에서 전문성을 보유하고 있습니다.

지명 및 거버넌스 위원회는 Findell의 후보자를 평가하고 주주에게 권고안을 제시할 것입니다. 회사는 법률 자문으로 Wilson Sonsini Goodrich & Rosati를, 전략적 커뮤니케이션 자문으로 FGS Global을 고용했습니다.

Oportun (OPRT) a confirmé avoir reçu un avis de Findell Capital Management nommant deux administrateurs pour être élus au Conseil d'Administration de l'entreprise lors de l'Assemblée Annuelle des Actionnaires de 2025. Le Conseil a mis en avant ses réalisations au cours des trois dernières années, notamment l'amélioration des performances de crédit et des origines de haute qualité.

L'entreprise a souligné son récent processus de renouvellement du Conseil, qui a inclus les contributions de Findell et a abouti à la nomination de quatre nouveaux administrateurs indépendants au cours des 14 derniers mois. Les membres actuels du Conseil possèdent une expertise dans des domaines critiques tels que la gestion du crédit et des risques, la finance, les technologies mobiles, les logiciels, le marketing et les questions réglementaires.

Le Comité de nomination et de gouvernance évaluera les candidats de Findell et fera des recommandations aux actionnaires. L'entreprise a retenu Wilson Sonsini Goodrich & Rosati comme conseiller juridique et FGS Global comme conseiller en communications stratégiques.

Oportun (OPRT) hat bestätigt, eine Mitteilung von Findell Capital Management erhalten zu haben, die zwei Direktoren zur Wahl in den Vorstand des Unternehmens bei der Hauptversammlung der Aktionäre 2025 nominiert. Der Vorstand hob seine Erfolge der letzten drei Jahre hervor, darunter verbesserte Kreditleistungen und qualitativ hochwertige Originierungen.

Das Unternehmen betonte seinen jüngsten Erneuerungsprozess im Vorstand, der Input von Findell beinhaltete und zur Ernennung von vier neuen unabhängigen Direktoren in den letzten 14 Monaten führte. Die aktuellen Vorstandsmitglieder verfügen über Fachkenntnisse in kritischen Bereichen wie Kredit- und Risikomanagement, Finanzen, mobile Technologien, Software, Marketing und regulatorischen Angelegenheiten.

Der Nominierungs- und Governance-Ausschuss wird die Nominierten von Findell bewerten und Empfehlungen an die Aktionäre abgeben. Das Unternehmen hat Wilson Sonsini Goodrich & Rosati als rechtlichen Berater und FGS Global als strategischen Kommunikationsberater beauftragt.

Positive
  • Improved credit performance and high-quality originations
  • Recent Board refreshment with 4 new independent directors added
  • Strong business momentum reported for 2025 outlook
Negative
  • Potential proxy contest with activist investor Findell Capital

SAN CARLOS, Calif., March 27, 2025 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven financial services company, today confirmed receipt of a notice from Findell Capital Management LLC (“Findell”) nominating two directors to stand for election to the Oportun Board of Directors (the “Board”) at the Company’s 2025 Annual Meeting of Shareholders. The Board issued the following statement in response:

Over the past three years, the Oportun Board of Directors has overseen decisive and deliberate actions to put the company on a strong path for long-term profitable growth. These actions, which we summarized in our press release on March 20, 2025, have led to improved credit performance, fortified our business economics and driven high-quality originations. Our business momentum and 2025 outlook speak for themselves and are a testament to the opportunity and value we believe we can deliver. The Board and management remain focused on driving strong performance and enhancing shareholder value.

Oportun is committed to maintaining a strong Board comprised of an independent and high-quality set of directors who bring a range of perspectives, provide effective oversight and represent the interests of all shareholders. Consistent with that commitment, the Board has recently undergone a thoughtful and comprehensive refreshment process, including with input from Findell and resulting in the appointment of four new independent directors over the last 14 months. Our directors have skills and experience in functional areas critical to the successful execution of our strategy, including expertise in credit and risk management, finance, mobile technologies, software, marketing, government relations and regulatory matters, as well as deep leadership, public company, lending and consumer finance industry experience.

Oportun’s Nominating and Governance Committee will evaluate Findell’s nominees and make a formal recommendation to Oportun shareholders in due course. Oportun shareholders are not required to take any action at this time.

Wilson Sonsini Goodrich & Rosati is serving as legal advisor and FGS Global is serving as strategic communications advisor to Oportun.

About Oportun

Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $19.7 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements as to our future performance and financial position; the strength of our business model, balance sheet, liquidity and execution of our strategy; expectations regarding our growth for 2025; the composition of our Board of Directors and its impact on our ability to deliver long-term value to our shareholders; and our governance practices, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These risks and uncertainties include those risks described in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we disclaim any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.

Additional Information and Where to Find It

Oportun Financial Corporation (“Oportun”), its directors and certain executive officers are participants in the solicitation of proxies from stockholders in connection with Oportun’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”). Oportun plans to file a proxy statement (the “2025 Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Annual Meeting.

Jo Ann Barefoot, Mohit Daswani, Ginny Lee, Carlos Minetti, Louis Miramontes, Scott Parker, Sandra A. Smith, Richard Tambor, Raul Vazquez and R. Neil Williams, all of whom are members of Oportun’s board of directors, are participants in Oportun’s solicitation. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the 2025 Proxy Statement and other relevant documents to be filed with the SEC in connection with the Annual Meeting. Information relating to the foregoing can also be found in Oportun’s definitive proxy statement for its 2024 Annual Meeting of Stockholders (the “2024 Proxy Statement”), which was filed with the SEC on May 13, 2024, and is available here. Particular attention is directed to the sections of the 2024 Proxy Statement captioned “Directors, Executive Officers and Corporate Governance,” “Non-Employee Director Compensation,” “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” “Executive Compensation” and “Certain Relationships and Related Transactions.” To the extent that holdings of such participants in Oportun’s securities have changed since the amounts printed in the 2024 Proxy Statement, such changes have been reflected on the following filings: for Ms. Barefoot, on June 28, 2024; for Mr. Daswani, on June 28, 2024 and December 13, 2024; for Ms. Lee, on June 28, 2024; for Mr. Minetti, on June 28, 2024 and December 13, 2024; for Mr. Miramontes, on June 28, 2024; for Mr. Parker, on April 25, 2024, June 18, 2024, and June 28, 2024; for Ms. Smith, on June 28, 2024; for Mr. Tambor, on June 28, 2024 and June 28, 2024; for Mr. Vazquez, on June 18, 2024, September 12, 2024, December 2, 2024, and March 12, 2025; and for Mr. Williams, on June 28, 2024 and December 11, 2024.

Promptly after filing its definitive 2025 Proxy Statement with the SEC, Oportun will mail the definitive 2025 Proxy Statement and a GREEN proxy card to each stockholder entitled to vote at the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE 2025 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT OPORTUN WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, Oportun’s proxy statement (in both preliminary and definitive form), any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting at the SEC’s website, which is located here. Copies of Oportun’s definitive 2025 Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting will also be available, free of charge, at Oportun’s website, which is located here, or by writing to Investor Relations, Oportun Financial Corporation, 2 Circle Star Way, San Carlos, CA 94070. In addition, copies of these materials may be requested, free of charge, from Oportun’s proxy solicitor, Innisfree M&A Incorporated, by calling toll-free to (877) 800-5195.

Investor Contact
Dorian Hare
(650) 590-4323
ir@oportun.com

Media Contact
John Christiansen / Bryan Locke
FGS Global
Oportun@fgsglobal.com


FAQ

How many director nominations has Findell Capital proposed for Oportun's (OPRT) Board?

Findell Capital Management has nominated two directors to stand for election to Oportun's Board at the 2025 Annual Meeting of Shareholders.

How many new independent directors has Oportun (OPRT) appointed in the last 14 months?

Oportun has appointed four new independent directors over the last 14 months as part of its Board refreshment process.

What key areas of expertise do Oportun's (OPRT) current Board members possess?

Board members have expertise in credit and risk management, finance, mobile technologies, software, marketing, government relations, regulatory matters, and consumer finance industry experience.

Which advisors is Oportun (OPRT) working with regarding the director nominations?

Oportun has retained Wilson Sonsini Goodrich & Rosati as legal advisor and FGS Global as strategic communications advisor.
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