Bread Financial Provides July 2022 Performance Update | New

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COLUMBUS, Ohio–(BUSINESS WIRE)–August 15, 2022–

Pain Financial Holdings, Inc. (NYSE: BFH), a leading-edge financial services company that provides simple and personalized payment, loan and savings solutions, provided an update on its performance. The following tables show the Company’s net loss rate and default rate for the periods indicated.

For the

month ended

July 31, 2022

For the

month ended

July 31, 2021

(in millions of dollars)

End of term credit card and other loans

$

17,884

$

15,916

Average credit card and other loans

$

17,471

$

15,557

Year-over-year change in average credit card and other loans

12%

1%

Net principal losses (1)

$

65

$

55

Net loss rate (1)

4.5%

4.2%

Of the

July 31, 2022

Of the

July 31, 2021

(in millions of dollars)

30 days + outstanding – principal (2)

$

810

$

518

Credit card and other period ended loans – principal

$

16,885

$

15,179

Default rate (2)

4.8%

3.4%

__________________________

(1)

July 2022 net principal losses, and therefore the net loss rate, were impacted by the planned transition of credit card processing services. Excluding the impact of the transition, which is timing related, the net loss rate for July 2022 would have increased sequentially along seasonal trends.

(2)

July 2022 chargebacks + 30 days – principal, and therefore the chargeback rate, were also impacted by the planned transition of credit card processing services; we expect insignificant timing impacts to our default rates for the remainder of the year.

About Bread Financial™

MC Financial Bread (NYSE: BFH) is a leading-edge financial services company that provides simple, personalized payment, lending and savings solutions. The company creates opportunities for its customers and partners through digital choices that deliver ease, empowerment, financial flexibility, and exceptional customer experiences. Driven by a digital approach, data insights and white-label technology, Bread Financial drives partner growth through a full suite of products, including private label and co-branded credit cards, loans installment and buy now, pay later (BNPL ). Bread Financial also offers direct-to-consumer solutions that provide customers with more access, choice and freedom through its brand. Bread Cashback™ American Express ® Credit Card and Bread savings MC some products.

Bread Financial is an S&P MidCap 400 company headquartered in Columbus, Ohio, committed to sustainable business practices powered by its more than 6,000 associates worldwide. To learn more about Bread Financial, visit BreadFinancial.com or follow us on Facebook, LinkedIn, Twitter and instagram.

Forward-looking statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and generally may be identified by the use of words such as “believe”, “expect”, “anticipate”, “estimate”, “intend”, “project”, “plan”, “likely”, “may “, “should” or other similar words or phrases matter. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make and advice we give regarding our expected operating or financial results, our future financial performance and prospects, the launch or the completion of strategic initiatives, including our ability to realize the anticipated benefits of the LoyaltyOne® segment spin-off, future declarations of dividends, future economic conditions, including but not limited to market conditions, continued inflation, rising interest rates, increased likelihood of a recession and related impacts on consumer behavior, future legislative or regulatory action that could impact our business and results operations, including any action that may be taken with respect to late fees or other charges, changes in the geopolitical environment, including the gue rre in Ukraine, and the continued effects of the global COVID-19 pandemic, all factors of which remain difficult to predict.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements are, however, subject to a number of risks and uncertainties that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurance can be given that our expectations will turn out to have been correct. These risks and uncertainties include, but are not limited to, the factors set forth in the Risk Factors section of our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated at 1A of, or elsewhere in, our quarterly reports on Form 10-Q filed for periods subsequent to this Form 10-K. Our forward-looking statements speak only as of the date they are made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unforeseen or other circumstances.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220815005063/en/

CONTACT: Investors/Analysts

Brian Verb

bread financial

614-528-4516

[email protected]

Media

Shelley Whiddon

bread financial

214-494-3811

[email protected]

KEYWORD: OHIO UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA ANALYTICS TECHNOLOGY OTHER TECHNOLOGIES SOFTWARE FINANCE BANKING

SOURCE: Bread Financial

Copyright BusinessWire 2022.

PUBLICATION: 08/15/2022 07:30 / DISK: 08/15/2022 07:32

http://www.businesswire.com/news/home/20220815005063/en

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