Closes $600 million AAA-Rated Personal Loan ABS deal and prices $100 million Personal Loan pass-through transaction

Pagaya Technologies LTD. (NASDAQ: PGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of a $600 million AAA-rated personal loan ABS transaction (PAID 2024-11) and expects to close an additional $100 million pass-through transaction (PT 2024-2) next week.

A total of 29 unique investors participated across these two new transactions, the majority of which were repeat investors. Additionally, PAID 2024-11 was substantially oversubscribed and upsized from its original size of $500 million, reflecting continued strong investor demand for Pagaya’s robust, AI-enabled consumer credit assets. Since 2018, Pagaya has raised nearly $26 billion across 64 ABS transactions to fund loan originations across multiple products, including personal loan and auto.

“As a leading provider of access to consumer assets for U.S. capital markets, Pagaya consistently proves the strength and efficacy of its technology and network,” said Sanjiv Das, President of Pagaya. “Our increasing scale and track record of stable asset performance, combined with improving capital markets conditions, is enabling us to execute at lower spreads and with more efficient use of our capital, supporting our growth heading into 2025.”

About Pagaya Technologies

Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.

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