On November 27, 2023, Findell Capital Management LLC announced that while Oportun Financial Corp made some broad-based cost cuts in response to the March 2023 Letter, Findell Capital believes these were not nearly enough and it believes Vazquez sought to preserve the sprawling businesses he created. While the Company appears to have finally begun to heed the advice provided in the March 2023 Letter, Findell Capital note that these changes are not happening as proactively as they should have and instead are likely a late reaction to changing macro conditions. Accordingly, Findell Capital believes that in order for the Company to realize its full potential, the following must occur in short order: 1. Replace all of the board members up for election at the upcoming annual meeting of stockholders (Roy Banks, Ginny Lee and Louis Miramontes) with candidates who have subprime lending experience, 2) Reduce operating expenditure to below $350mm a year with the loan portfolio right-sized accordingly, 3) Replace Vazquez and the current leadership team responsible for the Issuer?s underperformance with experienced executives who understand the subprime space and can right size the Issuer?s loan portfolio and cost structure., and 4) Adopt shareholder friendly governance beginning with the elimination of the Issuer?s staggered board structure.