Findell Recommends Oportun Stockholders Vote FOR Warren Wilcox, WITHHOLD on CEO Raul Vazquez

Institutional Shareholder Services Backs Findell’s Push for Boardroom Overhaul at Oportun’s 2025 Annual Meeting, Citing Years of Poor Governance and Underperformance

ISS Report Points to Executive Leadership and Board Support as Key Drivers of Oportun’s Significant Stock Price Decline, Recommends Experienced Independent Director

Independent Proxy Advisor Highlights Clear Benefits of Seating Warren Wilcox, Arguing for Removal of Underperforming CEO from Insular Board

NEW YORK, July 7, 2025 /PRNewswire/ — Findell Capital Partners, LP, a prominent shareholder in Oportun Financial Corporation (NASDAQ: OPRT), today revealed that Institutional Shareholder Services Inc. (ISS) has issued a strong endorsement for Findell’s proposed changes at the upcoming 2025 Annual Meeting of Stockholders. ISS is recommending that stockholders vote **FOR** the election of Findell’s nominee, Warren Wilcox, to Oportun’s Board of Directors. Concurrently, ISS advises stockholders to **WITHHOLD** their vote from CEO Raul Vazquez, holding him accountable for a strategy that has seen Oportun’s stock price plummet by approximately 55% since its 2019 initial public offering.

Findell is urging shareholders to consider the findings of independent third-party analysis and the irrefutable evidence of Mr. Vazquez’s performance. The firm cautions against what it describes as “advisor-manufactured spin and stunts” from the current Board leading up to the crucial meeting.

In its critical report, ISS underscored the shortcomings of the Vazquez-aligned Board and validated Findell’s thesis for immediate boardroom change. The proxy advisor’s commentary included:

• “The company’s 2021 strategic pivot away from its core business proved almost immediately destructive to value. Performance nosedived, marked by escalating costs, shrinking profitability, and emerging issues in other critical business areas.”
• “Key structural elements of the corporate governance framework, including a classified board, supermajority voting requirements, and the inability of shareholders to act outside the annual meeting cycle, are misaligned with shareholder interests.”
• “Overall, significant concerns exist regarding board composition, which casts doubt on director independence and the board’s capacity to hold management accountable.”
• “Despite a multitude of challenges, the board has consistently championed corporate governance policies and practices that have drawn shareholder opposition, as evidenced by historical voting outcomes.”
• “…the board’s decision not to renominate Parker for this meeting signals that fundamental issues remain unaddressed. While presented as a move to enhance corporate governance, it appears to be a transparent maneuver to limit shareholder input.”
• “Ultimately, even with recent board changes, this board continues to grapple with independence issues. Given these factors, the dissident has effectively made the case for change.”

ISS also detailed the advantages of seating Mr. Wilcox and consequentially removing Mr. Vazquez, stating:

• “It is important to recognize that Mr. Vazquez, as CEO at the time of the IPO, bears significant responsibility for the classified board structure and was a key proponent of the strategic shift. A discernible lack of independence raises concerns about the board’s ability to provide effective management oversight during the critical ongoing recovery phase.”
• “The potential repercussions of removing Mr. Vazquez are outweighed by the clear advantages of adding an independent director with pertinent experience. Mr. Wilcox, bringing expertise in consumer lending and public board service, would join the existing directors.”
• “While experienced directors remain in leadership roles, this group should be capable of evaluating recovery efforts with an appropriate perspective and championing shareholder interests on vital corporate governance matters moving forward.”

Brian Finn, Chief Investment Officer of Findell, commented:

“We are pleased that ISS has recognized Oportun’s need for a director like Warren Wilcox, whose objective perspective and deep expertise in the lending sector are invaluable, particularly in light of the Board’s defensive and self-serving decision to block the renomination of shareholder-appointed director Scott Parker. Mr. Wilcox’s relevant experience and independence from entrenched directors will empower him to challenge legacy thinking and collaborate with new board members to drive improved decisions on governance, personnel, and strategy. Mr. Vazquez and his allies have held sway over the Company for too long, leading to detrimental outcomes and sustained destruction of shareholder value. By electing Mr. Wilcox, shareholders can break the pattern of value-destroying decisions and steer Oportun back to its core strengths in the lending landscape.”

SHAREHOLDERS SHOULD BE WARY OF THE CURRENT BOARD’S DEFENSIVE TACTICS AND MISINFORMATION AHEAD OF THE UPCOMING ANNUAL MEETING.

Shareholders are strongly encouraged to cast their votes **FOR Warren Wilcox** and **AGAINST Raul Vazquez** using the **WHITE** proxy card.

For more information, please visit www.OpportunityAtOportun.com.

Findell Capital Management, LLC

¹ Permission to quote ISS was neither sought nor obtained.

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SOURCE Findell Capital Management, LLC