BREAD FINANCIAL HOLDINGS Business Summary

Bread Financial Holdings, Inc. (BFH) is a tech-forward financial services provider that generates revenue primarily through interest income and fee-based services derived from its extensive credit and savings portfolio. Operating through a single reportable segment, the company specializes in private-label and co-branded credit card programs, direct-to-consumer proprietary cards, and the "Bread Pay" suite, which includes installment loans and buy-now-pay-later (BNPL) solutions. Additionally, the company drives liquidity through its "Bread Savings" platform, which reached over $8.5 billion in direct-to-consumer deposits by early 2026. BFH competes directly with industry giants such as Synchrony Financial, Citibank, and American Express, as well as fintech disruptors like Affirm. Positioned as the third-largest player in the U.S. private-label credit market with approximately an 18% share, BFH distinguishes itself through a data-driven, digital-first approach and a partner-centric model serving major brands like Williams-Sonoma, Dell, and Victoria’s Secret. Originally formed in 1996 through the merger of JCPenney’s credit card processing unit and The Limited’s credit card bank business, the company is currently led by President and CEO Ralph J. Andretta, a veteran of Citigroup and American Express who has overseen the firm's strategic pivot from Alliance Data Systems to its modern fintech identity. The executive team includes EVP and CTO Allegra Driscoll, formerly a senior leader at American Express and Goldman Sachs, and EVP and CFO Perry Beberman, who brings deep expertise in consumer finance. The company’s Board of Directors is chaired by Roger Ballou and includes notable figures such as John Gerspach, the former CFO of Citigroup. Bread Financial is a publicly traded entity (NYSE: BFH) with high institutional ownership, including significant stakes held by the Public Sector Pension Investment Board and various global asset management firms.