Copyright © 2014 Lend Academy.

LEND ACADEMY INVESTMENTS Real returns by investing in real people

Copyright © 2014 Lend Academy.

2

We provide easy access

to the peer-to-peer

marketplace

Copyright © 2014 Lend Academy.

3

Together, we

replace the need

for banks as

lenders

Copyright © 2014 Lend Academy.

4

By providing

lower-cost capital

to borrowers and

higher returns to

our clients

Copyright © 2014 Lend Academy.

WE ARE A PEER-TO-PEER INVESTMENT MANAGER

5

We are a lot like a mutual fund manager except that we are focused 100% on investments in the peer-to-peer marketplace. Our objective is to provide our clients with steady, long-term capital appreciation by investing in consumer and small business loans. We direct our clients’ capital to investment opportunities in consumer credit via Lending Club, Prosper, and Upstart, and small business credit via Funding Circle. In this manner, we are partners with the leading U.S. p2p loan originators. If you are attracted to p2p returns but don’t know where to start, Lend Academy Investments may have the solution.

Due Diligence & Credit Modeling

01.

6

Copyright © 2014 Lend Academy.

PREMIER PLATFORM PARTNERS

7

We seek the best online origination platforms and the best lending opportunities globally in the consumer, small business, and real estate sectors.

Data Source: Lend Academy Investments

A-GRADE CREDIT AND TECH TEAMS

• Dr. Bill Panak, who spent 14 years at Capital One developing statistical models and credit analysts, assists with overseeing credit teams

• Former Capital One credit analysts with extensive expertise in small business and personal installment loan credit modeling

• Peter Renton’s loan filtering system with a 4-year track record

• P2P-Picks’ loan selection algorithms use advanced logistical regression analysis

• Fully integrated models with our trading technology partner NickelSteamroller

• We execute trades at institutional speed via API.

• Credit analysis, portfolio management, loan selection, trading and execution

systems at the forefront of our industry

Top Tier Credit Team

State of the Art Technology

API = Application Protocol Interface. This is the system by which platforms such as Prosper and Lending Club provide statistical data to investors electronically.

8

Credit Bureau (~400 variables) Borrower Profile

Prior Relationship Product Terms

Attributes

• Prior Lender Relationship

• Prior Loans

• Experian FICO

• Bureau Underwriting Data

‒ Inquires

‒ History of Trades

‒ Mix of Trade Types

‒ Bal and Credit Limit

‒ Current and Past

Delinquencies

‒ Public Records

• Debt to Income Ratio

• Net Disposable Income

• Occupation Risk Index

• Employment Status

• Self-report Income

• Home Ownership

• Loan Purpose

• Loan Amount

• Scheduled Monthly Payment

RICH DATA SETS SOPHISTICATED ALGOS

Term ChiSq P-value Inctercept 62.84 <0.0001

Variable 1 142.07 <0.0001

Variable 2 73.85 <0.0001

Variable 3 27.91 <0.0001

Variable 4 113.57 <0.0001

Variable 5 10.83 0.001

Variable 6 22.69 <0.0001

Variable 7 6.66 <0.0001

Variable 8 16.43 0.0099

Variable 9 32.42 <0.0001

Variable 10 30.82 <0.0001

Variable 11 14.76 0.0001

Variable 12 11.77 0.0006

Variable 13 8.23 0.0041

Variable 14 81.31 <0.0001

Variable 15 43.15 <0.0001

Variable 16 48.18 <0.0001

Variable 17 14.29 0.0002

Variable 18 7.52 0.0061

Variable 19 16.98 <0.0001

Variable 20 56.50 <0.0001

Variable 21 1.49 0.2225

Variable 22 7.08 0.0078

Variable 23 8.42 0.0037

Variable 24 14.50 0.0001

Variable 25 24.64 <0.0001

Variable 26 9.00 0.0027

Variable 27 6.22 0.0126

Variable 28 7.56 0.006

Variable 29 14.02 0.0002

Logistic regression: probabilistic classification model often used to predict binary outcomes

Stepwise variable selection: P-value < 0.01 were retained

Strong and consistent variables: Intuitive indicators were added

Developed in JMP: statistical software developed by SAS.

9

1 2 3 4 5 6 7 8 9 10

AA 5.75% 5.25% 4.67% 4.14% 3.66% 3.22% 2.74% 2.04% 0.90% -0.41%

A 8.72% 8.09% 7.33% 6.66% 6.04% 5.44% 4.84% 3.93% 2.49% -0.25%

B 11.40% 10.49% 9.53% 8.68% 7.92% 7.15% 6.38% 5.34% 3.42% -0.01%

C 13.24% 13.24% 12.13% 11.16% 10.24% 9.34% 8.41% 7.09% 4.75% 0.57%

D 17.76% 16.80% 15.08% 13.82% 12.73% 11.57% 10.49% 8.80% 6.06% 0.72%

E 20.37% 20.37% 18.94% 17.38% 16.16% 14.72% 13.39% 11.38% 7.99% 1.67%

HR 19.09% 19.09% 19.09% 19.09% 17.79% 16.35% 14.80% 12.09% 8.77% 1.78%

Other Hard Cuts:

• No-Buy for Invalid FICO (FICO=‘Exception’)

• No-Buy for LA model scoreband 9 & 10

Min Return 8.00%

# Accounts 5209

% of Accounts 36%

$ Assets $55,933,708

% of Assets 32%

Avg Return 9.91%

Avg Losses 5.13%

Avg Ret / Loss 1.93

Buy

Lend Academy investments Model Scoreband

Pro

sper

Rat

ing

No-Buy

SOPHISTICATED ALGOS SMART LOAN SELECTION We independently analyze the loans available at each platform, and utilize a proprietary scoring system to select the loans with the best potential for each client portfolio.

Data Source: Lend Academy Investments 10

THE FUND BALANCES EXPOSURE ACROSS PLATFORMS

Data Sources: 2013 Jan– 2014 Mar Lending Club and Prosper loans via NickelScteamRoller.com; Funding Circle.

Lending Club Prosper

B 23%

C 35%

D 24%

E 12%

F 5%

G 1%

A 7%

B 19%

C 37%

D 20%

E 14%

HR 3%

A+ 5%

A 53%

B 42%

Funding Circle

11

Controls & Compliance

02.

12

• Registered Investment Adviser

• Developed a sophisticated Fair Value model

for the P2P fund that allows us to provide

liquidity in a diversified open-end fund

• Created transparent investor reporting

• Institutional-grade compliance procedures

Fund Auditor

Fund Custodian

Fund Administrator

Legal Counsel

CONTROLS & COMPLIANCE HIGHLIGHTS

13

Fund Valuation Agent

• We value every loan in the portfolio

• Investors can enter or exit the Fund at Fair Value.

• We conduct a new valuation every month.

FAIR VALUE MODEL ALLOWS LIQUIDITY IN FUND

14

Important Disclosures

03.

15

Copyright © 2014 Lend Academy.

FIVE THINGS everyone should consider when investing in p2p

16

1. P2P is for the long term. Underlying loans in p2p portfolios typically range from 36

to 60 months in length, and cashing out of a portfolio takes

time. These are illiquid positions. No one should plan to

“cash out” of a p2p position like they would a publicly traded

stock or bond. Investors should only invest in p2p the

portion of their portfolio that they are willing to tie up in a

single asset class for long periods of time.

2. Charge-offs are a fact of life. In the world of unsecured consumer credit, whether we’re talking about credit card

debt or installment loans, losses are inevitable. Minimizing losses is the best we can

do, and indeed it makes a big difference. Our job is to minimize your losses based on a

certain target return threshold, but there is no way to eliminate losses entirely. In the

business of lending, charge-offs are a fact of life.

3. Diversification is a must. We establish account minimums so that we can enforce diversification within client

portfolios. We like to see at least 400 loans in each portfolio in order to reduce the

negative impact of default by any individual borrower.

4. Returns are sensitive to the macro-economy. Your investment strategy dictates your level of risk. Portfolios with higher target

returns are more susceptible to losses due to an economic shock or rapid spikes in

unemployment than portfolios with lower target returns. Let’s make sure your returns

expectations are considered vis-à-vis your tolerance for risk.

5. Suitability is key. Everyone should approach p2p with a clear understanding of its limitations as well as

its benefits. We are here to help you assess the suitability of p2p investments within

your overall portfolio.

IMPORTANT INFORMATION ABOUT THIS PRESENTATION These materials are provided for informational purposes in one-on-one meetings with sophisticated investors who meet certain financial requirements. Any offering of interests in Lend Academy P2P Fund LP (the “Fund”) will be made solely in accordance with the Fund’s Private Placement Memorandum (the “Offering Memorandum”). The Fund is only available to accredited investors as defined in Regulation D of the Securities Act of 1933, and may not be suitable for all types of investors.

In addition to the Fund, Lend Academy Investments offers managed account services. However, only potential clients in certain states may invest in a separately-managed accounts. Clients may also be required to meet certain sophistication thresholds. This presentation is not an offer to sell or a solicitation to invest in a managed account.

The data used in our analyses was sourced from publicly available files directly from the respective origination platforms Prosper Marketplace and Lending Club, or indirectly through nickelsteamroller.com. We have not audited or verified the source data.

Investments in p2p loans involve certain risks, many of which are enumerated in the Form ADV of Lend Academy Investments, which can be found at www.adviserinfo.sec.gov. All investors should consult an independent investment and tax advisor prior to making a p2p investment.

This presentation is proprietary and confidential. No part of it may be shared or reproduced without our written consent.

17

The model performance information in this presentation is based on the backtested performance of a hypothetical investment over the time period indicated. “Backtesting” is a process of objectively simulating investment returns by applying a set of investment rules to a historical data set to test the performance of the investment rules under a historical context. Backtesting is designed to allow investors to understand and evaluate certain strategies by seeing how they would have performed hypothetically during certain time periods.

It is possible that (1) portfolios or funds utilizing our loan selection algorithms will perform better or worse than shown in the projections, (2) the actual results of an investor who invests in the manner these projections suggest will be better or worse than the projections, and (3) an investor may lose money by investing in the manner the projections suggest. Although the information contained herein has been obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. While backtesting results reflect the rigorous application of the investment strategy selected, backtested results have certain limitations and should not be considered indicative of future results. In particular, they do not reflect actual investment in underlying funds, so there is no guarantee that, in fact, the Fund would have achieved the results shown. Backtested results also assume that asset allocations of the underlying funds would not have changed over time and in response to market conditions, which might have occurred if Lend Academy Investments had been managing the Fund.

In no circumstances should the backtested returns be regarded as a representation, warranty or prediction that investors will achieve or are likely to achieve the performance results displayed, or that investors will be able to avoid losses, including total losses of their investment. Inherent in any investment is the potential for loss.

This material is provided for illustrative purposes only and should not be construed as an offer to sell, or the solicitation of offers to buy, or a recommendation for any security.

IMPORTANT INFORMATION ABOUT THIS PRESENTATION

18

Copyright © 2014 Lend Academy.

Here for you.

Please give us a call at 720-259-0455 to take the next step, or send me an email at

bo@lendacademy.com to get the conversation started.

Real returns by investing in real people