Bread Financial™ Provides Performance Update for July 2024

COLUMBUS, Ohio, Aug. 15, 2024 (GLOBE NEWSWIRE) — Bread Financial Holdings, Inc. (NYSE: BFH), a technology-enabled financial services company that offers simple, personalized savings, lending and payment solutions, provided a performance update. The following tables present the company’s net loss rate and delinquency rate for the periods indicated.

About Bread Financial™
Bread Financial™ (NYSE: BFH) is a technology-forward financial services company that offers simple, personalized payments, lending and savings solutions. The company creates opportunities for its customers and partners through digitally enabled choices that deliver ease, empowerment, financial flexibility and exceptional customer experiences. Powered by a digital approach, data insights and white label technology, Bread Financial delivers growth for its partners through a comprehensive suite of payment solutions including private label and co-branded credit cards and Bread Pay™ buy now, pay later products. Bread Financial also offers direct-to-consumer products that give customers more access, choice and freedom through its Bread Cashback™ American Express® Credit Card and Bread Savings™ branded products.

Bread Financial, headquartered in Columbus, Ohio, is supported by approximately 7,000 associates worldwide and is committed to sustainable business practices. For more information about Bread Financial, please visit breadfinancial.com or follow us on Facebook, LinkedIn, Twitter/X and Instagram.

Forward-looking statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements express our expectations or forecasts of future events and generally can be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should,” or other words or phrases of similar meaning. Similarly, statements describing our business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding our anticipated operating or financial results, future financial performance and prospects, future dividend statements and future economic conditions, and the guidance we provide with respect to them.

We believe that our expectations are based on reasonable assumptions. However, forward-looking statements are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, are beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and there can be no assurance that our expectations will prove to be correct. Factors that could cause results to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, higher interest rates, labor market conditions, recessionary pressures or concerns about a prolonged economic downturn, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including ongoing wars and military conflicts; future credit performance, including the level of future delinquencies and amortization rates; the loss or reduction in demand from major brand partners or customers in the highly competitive markets in which we compete; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates we rely on, including the amount of our Allowance for Credit Losses and our credit risk management models; the failure to realize the anticipated benefits of acquisitions, divestitures and other strategic initiatives; our level of indebtedness and ability to access the financial or capital markets; pending and future legislation, regulation, supervisory guidance and regulatory and legal actions, including, but not limited to, those relating to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late payment fees, interchange fees or other charges; impacts arising from or related to the transition of our credit card processing services to third-party service providers that we completed in 2022; failures or breaches of our operational or security systems, including as a result of cyberattacks, unanticipated impacts of technology modernization or other projects; and any tax liabilities, disputes or other adverse impacts arising from or related to the spin-off of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. and certain of its subsidiaries. In addition, the Consumer Financial Protection Bureau (CFPB) has issued a final rule that, absent a successful legal challenge, will impose significant limits on credit card late payment fees, which would have a material impact on our business and results of operations at least in the near term and, depending on the effectiveness of mitigation actions we have taken or may take in the future in anticipation of, or in response to, the final rule, may potentially adversely affect us in the long term; We cannot provide any assurance as to the effective date of the rule, the outcome of any pending or future challenges or other litigation relating to the rule, or our ability to mitigate or offset the impact of the rule on our business and results of operations. The foregoing factors, together with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, are described in greater detail under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the most recently completed fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date they are made, and we undertake no obligation, except as required by applicable law, to update or revise any forward-looking statement, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

Contacts
Brian Vereb — Investor Relations
[email protected]

Susan Haugen – Investor Relations
[email protected]

Rachel Stultz — Media
[email protected]