OneMain Holdings, Inc. Announces Proposed Secondary Offering of Common Stock

OneMain Holdings, Inc. (NYSE: OMF) (the “Company”) announced today the commencement of a proposed secondary public offering of 7.0 million shares of the Company’s common stock by certain entities managed by affiliates of Apollo Global Management, Inc. and Värde Partners, Inc. (together, the “selling stockholders”). The 7.0 million shares of common stock to be sold in this offering represents approximately 5.2% of the Company’s outstanding common stock as of February 1, 2021. The Company is not selling any shares and will not receive any proceeds from the proposed offering.

The underwriters will have a 30-day option to purchase up to an additional 1.05 million shares of common stock from the selling stockholders. As part of this offering, the selling stockholders have agreed to a 75-day lock-up of their common stock.

Barclays, Citi and RBC Capital Markets are acting as joint book-running managers for the proposed offering. The underwriters may offer the shares from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.

The offering is being made only by means of a prospectus supplement and accompanying base prospectus. The Company has filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for the offering to which this communication relates and will file a final prospectus supplement relating to the offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying base prospectus for the offering may be obtained by contacting: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone (toll-free): [phone] or by emailing: [e-mail], Citigroup Global markets, Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 800-831-9146 or by email to [e-mail], or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, by telephone at 877-822-4089 or by email at [e-mail].