Upstart

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $Upstart(UPST.US) Upstart Reports $𝟭.𝟰 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 in July Loan Originations

👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:

➤ 𝗨𝗽𝘀𝘁𝗮𝗿𝘁 originated $𝟭.𝟯𝟵𝟳 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in loans during July 2026.

➤ Daily loan originations averaged $𝟱𝟭.𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 per origination day.

➤ July results were based on 𝟮𝟳.𝟰 effective origination days.

➤ 𝗨𝗽𝘀𝘁𝗮𝗿𝘁 𝗠𝗮𝗰𝗿𝗼 𝗜𝗻𝗱𝗲𝘅 rose to 𝟭.𝟱𝟬 as of August 3.

➤ UMI reached its 𝗵𝗶𝗴𝗵𝗲𝘀𝘁 level since January 2026.

➤ Current UMI indicates credit losses remain about 𝟱𝟬% above normal baseline.

➤ UMI has remained above 𝟭.𝟬 since early 2022.

➤ July originations data remain 𝗽𝗿𝗲𝗹𝗶𝗺𝗶𝗻𝗮𝗿𝘆 and unaudited.

👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:

➤ Strong loan volumes indicate continued borrower demand on Upstart's platform.

➤ Elevated UMI suggests macroeconomic credit risk remains above historical norms.

➤ Credit conditions may continue influencing loan pricing and approval standards.

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $Upstart(UPST.US) Upstart Secures $𝟰 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 Castlelake Consumer Loan Funding Agreement

👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:

➤ 𝗨𝗽𝘀𝘁𝗮𝗿𝘁 signs a new multi-year funding agreement with 𝗖𝗮𝘀𝘁𝗹𝗲𝗹𝗮𝗸𝗲.

➤ Castlelake will purchase up to $𝟰 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in consumer loans.

➤ Funding will support loans originated over up to 𝟮𝟰 𝗺𝗼𝗻𝘁𝗵𝘀.

➤ Agreement is the 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 partnership between Upstart and Castlelake.

➤ Deal expands a relationship that began in 𝟮𝟬𝟮𝟯.

➤ Loans will be acquired through a new 𝗳𝗼𝗿𝘄𝗮𝗿𝗱-𝗳𝗹𝗼𝘄 arrangement.

➤ Castlelake has invested approximately $𝟮𝟵 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in consumer and SMB lending since 2015.

➤ Agreement strengthens institutional funding for Upstart's AI lending marketplace.

👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:

➤ Expands 𝗨𝗽𝘀𝘁𝗮𝗿𝘁'𝘀 long-term funding capacity for loan originations.

➤ Demonstrates continued institutional confidence in 𝗔𝗜-𝗱𝗿𝗶𝘃𝗲𝗻 underwriting.

➤ Reduces funding uncertainty as loan demand scales.

➤ Reinforces growing adoption of private credit in consumer lending.

👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀:

𝗦𝗮𝗻𝗷𝗮𝘆 𝗗𝗮𝘁𝘁𝗮, President, Capital & Enterprise at Upstart:

"Our relationship with Castlelake has grown alongside the evolution of our marketplace, and this expanded commitment reflects the value of that long-term collaboration. Their continued confidence in our platform is a source of great pride and reinforces the strength of Upstart’s underwriting capabilities and the durability of the credit we originate."

𝗝𝗼𝗵𝗻 𝗟𝘂𝗻𝗱𝗾𝘂𝗶𝘀𝘁, Partner, Specialty Finance at Castlelake:

"This new commitment reflects our continued belief in the durability of Upstart consumer installment loans as attractive risk-adjusted exposure for our investors. In our view, this new agreement also recognizes what we view as consistency in Upstart’s originations across prior transactions and market environments."