SoFi Technologies, Inc. Prices $750 Million Convertible Senior Notes Offering Due 2029

The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.In addition, in certain limited circumstances, noteholders may require SoFi to repurchase their notes for cash for a repurchase price equal to the principal amount of the notes to be repurchased, plus accrued and unpaid special and additional interest thereon to, but excluding, the applicable repurchase date.SoFi estimates that the net proceeds from the offering will be approximately $735 million (or approximately $845.3 million if the initial purchasers fully exercise their option to purchase additional notes), after deducting the initial purchasers discounts and commissions and before the capped call transactions and offering expenses payable by SoFi. SoFi intends to use approximately $78.8 million of the net proceeds to fund the cost of entering into the capped call transactions described below. SoFi intends to use the remainder of the net proceeds from the offering, together with cash on hand (i) to pay fees, costs and expenses relating to this offering and related transactions, (ii) to redeem its 12.5% Series 1 Preferred Stock and (iii) for general corporate purposes, which may include repayment of higher cost indebtedness. The capped call transactions will cover, subject to customary anti-dilution adjustments, the number of shares of SoFis common stock that initially underlie the notes. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.This press release includes forward-looking statements, including statements regarding the completion of the offering, the expected amount and intended use of the net proceeds and the effects of entering into the capped call transactions, the completion of the transactions contemplated by the exchange agreements and the effects of entering into the unwind agreements described above.