Merchant Fee Rates Illustrative merchant fees, transaction fees, and virtual card network fees divided by product level GMV 15.0% 12.5% 10.0% 7.5% 5.0% 2.5% 4% FY Q1'23 FY Q2'23 FY Q3'23 FY Q4'23 FY Q1'24 FY Q2'24 FY Q3'24 FY Q4'24 FY Q1'25 Core 0% Long Core 0% Short Core IB Pay in X Notes: 1. Includes lending transactions with Affirm integrated merchants in the US only 2. Core 0% Long includes loans with term lengths greater than 12 months and 0% APR; Core 0% Short includes loans with term lengths at least three months long but less than or equal to 12 months and 0% APR; Core IB includes loans with interest; Pay in X (formerly known as Pay in 4) includes loans with one to four 0% APR installments 3. Excludes Non-Integrated Virtual Card and Affirm Card interchange rates (which are principally set by card networks), loans made outside of the US, PayNow transactions and Returnly transactions 15 4. Metrics are unaudited