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  Forward-Looking Statements                              37
  Overview                                                38
  Recent Developments and Outlook                         39
  Results of Operations                                   41
  Segment Results                                         44
  Credit Quality                                          46
  Liquidity and Capital Resources                         51

  Critical Accounting Policies and Estimates              55
  Recent Accounting Pronouncements                        55
  Seasonality                                             56



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                          Forward-Looking Statements



This report contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements are
not statements of historical fact but instead represent only management's
current beliefs regarding future events. By their nature, forward-looking
statements are subject to risks, uncertainties, assumptions, and other important
factors that may cause actual results, performance, or achievements to differ
materially from those expressed in or implied by such forward-looking
statements. We caution you not to place undue reliance on these forward-looking
statements, which speak only as of the date they were made. We do not undertake
any obligation to update or revise these forward-looking statements to reflect
events or circumstances after the date of this report or to reflect the
occurrence of unanticipated events or the non-occurrence of anticipated events,
whether as a result of new information, future developments, or otherwise,
except as required by law. Forward-looking statements include, without
limitation, statements concerning future plans, objectives, goals, projections,
strategies, events, or performance, and underlying assumptions and other
statements related thereto. Statements preceded by, followed by or that
otherwise include the words "anticipates," "appears," "assumes," "believes,"
"can," "continues," "could," "estimates," "expects," "forecasts," "foresees,"
"goals," "intends," "likely," "objective," "plans," "projects," "target,"
"trend," "remains," and similar expressions or future or conditional verbs such
as "could," "may," "might," "should," "will," or "would" are intended to
identify forward-looking statements. Important factors that could cause actual
results, performance, or achievements to differ materially from those expressed
in or implied by forward-looking statements include, without limitation, the
following:

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•the costs and effects of any fines, penalties, judgments, decrees, orders,
inquiries, investigations, subpoenas, or enforcement or other proceedings of any
governmental or quasi-governmental agency or authority;

•our substantial indebtedness and our continued ability to access the capital
markets and maintain adequate current sources of funds to satisfy our cash flow
requirements;

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If one or more of these or other risks or uncertainties materialize, or if our
underlying assumptions prove to be incorrect, our actual results may vary
materially from what we may have expressed or implied by these forward-looking
statements. You should specifically consider the factors identified in this
report and in the documents we file with the SEC that could cause actual results
to differ before making an investment decision to purchase our securities and
should not place undue reliance on any of our forward-looking statements.
Furthermore, new risks and uncertainties arise from time to time, and it is
impossible for us to predict those events or how they may affect us.
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Overview



We are the leader in offering nonprime customers responsible access to credit.
Our customers are hardworking Americans who have been largely underserved by
traditional lenders such as banks and credit unions. We believe our customers
deserve fair and responsible access to credit, and we empower them to solve
today's problems and reach a better financial future through our personalized
solutions.

We operate in the United States and market our personal loans in 44 states. In
the third quarter of 2021, we began offering two credit cards, BrightWay and
BrightWay+, which are designed to reward customers for responsible credit
activity such as consistent on-time payments. We continue to expand BrightWay
and BrightWay+ credit cards across our branch network, through direct mail, and
through our digital affiliates. In connection with our offerings, our insurance
subsidiaries offer our personal loan customers optional credit and non-credit
insurance, and other insurance-related products. We strive to meet our customers
at their preferred channel and to deliver a seamless customer experience through
our digital platforms or working with our expert team members at our
approximately 1,400 locations. Our personal loans, credit cards, and other
products help customers meet everyday needs and take steps to improve their
financial well-being.

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•Personal Loans - We offer personal loans through our branch network,
centralized operations, and our website, www.omf.com, to customers who need
timely access to cash. Our personal loans are non-revolving, with a fixed rate,
fixed terms generally between three and six years, and are secured by
automobiles, other titled collateral, or are unsecured. At March 31, 2022, we
had approximately 2.29 million personal loans totaling $18.9 billion of net
finance receivables, of which 52% were secured by titled property, compared to
approximately 2.34 million personal loans totaling $19.2 billion of net finance
receivables, of which 52% were secured by titled property at December 31, 2021.
Commencing in the first quarter of 2021, we also service personal loans for our
whole loan sale partners.

•Credit Cards - In the third quarter of 2021, we began offering credit cards
through a third-party bank partner from which we purchase the receivable
balances. The credit cards are offered through our branch network, direct mail
marketing, and direct-to-consumer via our affiliates. Credit cards are
open-ended, revolving, with a fixed rate, and are unsecured. At March 31, 2022,
we had approximately 74 thousand open credit card customer accounts, totaling
$50 million of net finance receivables, compared to approximately 66 thousand
open credit card customer accounts, totaling $25 million of net finance
receivables at December 31, 2021.

•Insurance Products - We offer our customers optional credit insurance products
(life, disability, and involuntary unemployment insurance) and optional
non-credit insurance products through both our branch network and our
centralized operations. Credit insurance and non-credit insurance products are
provided by our affiliated insurance companies. We offer GAP coverage as a
waiver product or insurance. We also offer optional membership plans from an
unaffiliated company.

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•Other Receivables - We ceased originating real estate loans in 2012 and we
continue to service or sub-service liquidating real estate loans. Our real
estate loans held for sale are reported in "Other assets" of our consolidated
balance sheets.

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OUR SEGMENT

At March 31, 2022, Consumer and Insurance ("C&I") is our only reportable
segment, which includes personal loans, credit cards, and insurance products. At
March 31, 2022, we managed a combined total of 2.42 million customer accounts
and $19.5 billion of managed receivables, compared to 2.45 million customer
accounts and $19.6 billion of managed receivables at December 31, 2021.

The remaining components (which we refer to as "Other") consist of our
liquidating SpringCastle Portfolio servicing activity and our non-originating
legacy operations, which primarily include our liquidating real estate loans.
See Note 13 of the Notes to the Condensed Consolidated Financial Statements
included in this report for more information about our segment.

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RECENT DEVELOPMENTS

Stock Repurchase Program

On February 2, 2022, the Board authorized a new stock repurchase program, which
allows us to repurchase up to $1.0 billion of OMH's outstanding common stock,
excluding fees, commissions, and other expenses related to the repurchases. The
authorization expires on December 31, 2024. The new program replaces our
previous share repurchase program. As of March 31, 2022, we had $918 million of
authorized share repurchase capacity, excluding fees and commissions, remaining
under the program.

See "Liquidity and Capital Resources" under Management's Discussion and Analysis
of Financial Condition and Results of Operations and Item 2. Unregistered Sales
of Equity Securities and Use of Proceeds in Part II of this report for further
information on our shares repurchased.

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As part of our continued commitment to improve the financial well-being of
hardworking Americans, on April 27, 2022, OMFC completed its first social
securitization under Rule 144A. We issued $600 million principal amount of notes
backed by personal loans made to the target population identified in the OneMain
2022 ABS Social Framework ("OMFIT 2022-S1"). OMFIT 2022-S1 has a revolving
period of three years, during which no principal payments are required.
Generally, the target population is comprised of borrowers residing in rural
communities (by zip code), 75% of whom are lower income borrowers in these
communities. Through the OneMain 2022 ABS Social Bond Framework we aim to
promote financial inclusion to the target population by providing equitable
access to fair and transparent credit. The OneMain 2022 ABS Social Bond
Framework, which is available on OneMain's Investor Relations website, aligns to
the Social Bond Principles 2021, as administered by the International Capital
Market Association.

Private Secured Term Funding

On April 25, 2022, OMFC entered into a $350 million private secured term funding
collateralized by our personal loans. No principal payments are required to be
made during the first three years, followed by a subsequent one-year
amortization period at the expiration of which the outstanding principal amount
is due and payable.

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On April 26, 2022, OMFC issued a notice to fully redeem its 8.875% Senior Notes
due 2025 on June 1, 2022. In connection with the redemption, OMFC expects to pay
a net aggregate amount of $637 million, inclusive of accrued interest and
premiums and recognize $26 million net loss on repurchases and repayments of
debt in the second quarter of 2022.

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Election and Resignation of Members of the OMH Board of Directors

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In early 2020, COVID-19 evolved into a global pandemic, resulting in widespread
volatility and deterioration in economic conditions across the states and
regions that we serve. Governmental authorities continue to take steps to combat
the spread of COVID-19, including the ongoing distribution of vaccines.
Throughout the pandemic, we have maintained our focus on assisting and
supporting our customers, while remaining committed to the safety of our
employees. We continue to serve our customers by keeping our branch locations
open with appropriate protective protocols in place and through our digital
platform. This hybrid capability has sustained our operating performance through
the pandemic and enabled us to serve and support our customers effectively
during these unprecedented times. We believe the actions we have taken, combined
with the underlying strength of our balance sheet, has positioned us to take
advantage of growth opportunities even as the economy continues to recover.

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We are actively monitoring the current macroeconomic developments, including
recent geopolitical actions outside of the U.S., and remain prepared for any
additional opportunities or challenges that may impact our business and
industry. Our financial condition and results of operations could be affected by
the macroeconomic environment including unemployment rates and other
macroeconomic conditions. There remains uncertainty regarding the effects of
additional variants of COVID-19, recent geopolitical events, and their impacts
on economic markets. In our view, current credit performance trends remain
favorable, but delinquency rates have normalized to pre-pandemic levels. We will
continue to incorporate updates, as necessary, to our macroeconomic assumptions
which could lead to further adjustments in our allowance for finance receivable
losses, allowance ratio, and provision for finance receivable losses.

Our cumulative investments in our digital capabilities, combined with our
proprietary data and advanced analytics, have allowed us to serve our customers
through the branch, over the phone, and remotely throughout the pandemic and
into the future.

Our experienced management team continues to remain focused on maintaining a
solid balance sheet with an adequate liquidity runway and capital coverage,
upholding a conservative and disciplined underwriting model, and building strong
relationships with our customers to ensure that we are serving them well. We
believe we are well positioned to serve our customers, invest in our business,
and drive growth to create value for our stockholders as we navigate the
evolving economic, social, political, and regulatory environment.
                                       40

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                             Results of Operations


The results of OMFC are consolidated into the results of OMH. Due to the nominal
differences between OMFC and OMH, content throughout this section relates only
to OMH. See Note 1 of the Notes to the Condensed Consolidated Financial
Statements included in this report for further information.

OMH'S CONSOLIDATED RESULTS
See the table below for OMH's consolidated operating results and selected
financial statistics. A further discussion of OMH's operating results for our
operating segment is provided under "Segment Results" below.

                                                                            

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                                                                         Three Months Ended March 31,
(dollars in millions, except per share amounts)                           2022                   2021

Interest income                                                     $       1,089           $     1,060
Interest expense                                                              219                   235
Provision for finance receivable losses                                       238                    (2)
Net interest income after provision for finance receivable
losses                                                                        632                   827

Other revenues                                                                162                    91
Other expenses                                                                398                   372
Income before income taxes                                                    396                   546
Income taxes                                                                   95                   133
Net income                                                          $         301           $       413

Share Data:

Earnings per share:

Diluted                                                             $        2.36           $      3.06

Selected Financial Statistics (a)
Total finance receivables:
Net finance receivables                                             $      18,979           $    17,564
Average net receivables                                             $      19,083           $    17,824
Yield                                                                       23.12   %             24.08  %
Gross charge-off ratio                                                       6.98   %              5.81  %
Recovery ratio                                                              (1.42)  %             (1.14) %
Net charge-off ratio                                                         5.57   %              4.67  %
30-89 Delinquency ratio                                                      2.26   %              1.57  %

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Net finance receivables                                             $      18,929           $    17,564
Origination volume                                                  $       2,959           $     2,284
Number of accounts                                                      2,288,999             2,229,609
Number of accounts originated                                             286,391               225,102
Credit cards (b):
Net finance receivables                                             $          50           $         -

Purchase volume                                                     $          45           $         -
Number of open accounts                                                    73,958                     -
Debt balances:
Long-term debt balance                                              $      17,560           $    16,789
Average daily debt balance                                          $      17,553           $    17,035

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Interest income increased $29 million or 3% for the three months ended March 31,
2022 when compared to the same period in 2021 primarily due to growth in our
loan portfolio, partially offset by lower yield.

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Provision for finance receivable losses increased $240 million for the three
months ended March 31, 2022 when compared to the same period in 2021 primarily
driven by a significant release in our allowance reserve in the prior year
period and an increase in our current period charge-offs related to
normalization of delinquency rates to pre-pandemic levels.

Other revenues increased $71 million or 77% for the three months ended March 31,
2022 when compared to the same period in 2021 primarily due to a net loss on the
repurchase and repayment of debt in the prior year period and an increase in
gains on the sales of finance receivables and an increase in servicing revenue
associated with the whole loan sale program as a result of more loans sold in
the current period.

Other expenses increased $26 million or 7% for the three months ended March 31,
2022 when compared to the same period in 2021 primarily due to an increase in
salaries and benefits due to an increase in headcount as we continue to invest
in our business, and an increase in insurance policy and benefits claims expense
resulting from lower than expected involuntary unemployment insurance claims in
the prior year period.

Income taxes totaled $95 million for the three months ended March 31, 2022
compared to $133 million in the same period in 2021 due to higher pre-tax income
in the prior year period. For the three months ended March 31, 2022 and 2021,
the effective tax rates were 24.1% and 24.4%, respectively. The effective tax
rates differed from the federal statutory rate of 21% primarily due to the
effect of state income taxes. See Note 11 of the Notes to the Condensed
Consolidated Financial Statements included in this report for further
information on effective tax rates.
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NON-GAAP FINANCIAL MEASURES

Management uses C&I adjusted pretax income (loss), a non-GAAP financial measure,
as a key performance measure of our segment. C&I adjusted pretax income (loss)
represents income (loss) before income taxes on a Segment Accounting Basis and
excludes the expense associated with the net loss resulting from repurchases and
repayments of debt, the cash-settled stock-based awards, and direct costs
associated with COVID-19. Management believes C&I adjusted pretax income (loss)
is useful in assessing the profitability of our segment.

Management also uses C&I pretax capital generation, a non-GAAP financial
measure, as a key performance measure of our segment. This measure represents
C&I adjusted pretax income as discussed above and excludes the change in our C&I
allowance for finance receivable losses in the period while still considering
the C&I net charge-offs incurred during the period. Management believes that C&I
pretax capital generation is useful in assessing the capital created in the
period impacting the overall capital adequacy of the Company. Management
believes that the Company's reserves, combined with its equity, represent the
Company's loss absorption capacity.

Management utilizes both C&I adjusted pretax income (loss) and C&I pretax
capital generation in evaluating our performance. Additionally, both of these
non-GAAP measures are consistent with the performance goals established in OMH's
executive compensation program. C&I adjusted pretax income (loss) and C&I pretax
capital generation are non-GAAP financial measures and should be considered
supplemental to, but not as a substitute for or superior to, income (loss)
before income taxes, net income, or other measures of financial performance
prepared in accordance with GAAP.

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                                                                  Three Months Ended
                                                                       March 31,
(dollars in millions)                                               2022             2021

Consumer and Insurance
Income before income taxes - Segment Accounting Basis       $      396              $ 567
Adjustments:
  Net loss on repurchases and repayments of debt                     -                 38
Cash-settled stock-based awards                                      1                  -
  Direct costs associated with COVID-19                              1                  2

Adjusted pretax income (non-GAAP)                           $      398      

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Provision for finance receivable losses                     $      237              $  (3)
Net charge-offs                                                   (262)     

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Pretax capital generation (non-GAAP)                        $      373              $ 399


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                                Segment Results



The results of OMFC are consolidated into the results of OMH. Due to the nominal
differences between OMFC and OMH, content throughout this section relate only to
OMH. See Note 1 of the Notes to the Condensed Consolidated Financial Statements
included in this report for further information.

See Note 17 of the Notes to the Consolidated Financial Statements in Part II -
Item 8 included in our Annual Report for a
description of our segment and methodologies used to allocate revenues and
expenses to our C&I segment. See Note 13 of the Notes to the Condensed
Consolidated Financial Statements included in this report for reconciliations of
segment total to
condensed consolidated financial statement amounts.

CONSUMER AND INSURANCE
OMH's adjusted pretax income and selected financial statistics for C&I on an
adjusted Segment Accounting Basis were as follows:

                                                                                  At or for the
                                                                           Three Months Ended March 31,
(dollars in millions)                                                       2022                   2021

Interest income                                                       $       1,087           $     1,057
Interest expense                                                                217                   233
Provision for finance receivable losses                                         237                    (3)
Net interest income after provision for finance receivable
losses                                                                          633                   827
Other revenues                                                                  158                   136
Other expenses                                                                  393                   356
Adjusted pretax income (non-GAAP)                                     $         398           $       607

Selected Financial Statistics (a)
Total finance receivables:
Net finance receivables                                               $      18,981           $    17,569

Average net receivables                                               $      19,086           $    17,830
Yield                                                                         23.11   %             24.04  %
Gross charge-off ratio                                                         6.98   %              5.81  %
Recovery ratio                                                                (1.42)  %             (1.14) %
Net charge-off ratio                                                           5.57   %              4.67  %
30-89 Delinquency ratio                                                        2.26   %              1.57  %
Personal loans:
Net finance receivables                                               $      18,931           $    17,569
Origination volume                                                    $       2,959           $     2,284
Number of accounts                                                        2,288,999             2,229,609
Number of accounts originated                                               286,391               225,102
Credit cards (b):
Net finance receivables                                               $          50           $         -

Purchase volume                                                       $          45           $         -
Number of open accounts                                                      73,958                     -

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Comparison of Adjusted Pretax Income for the Three Months Ended March 31, 2022
and 2021

Interest income increased $30 million or 3% for the three months ended March 31,
2022 when compared to the same period in 2021 primarily due to growth in our
loan portfolio, partially offset by lower yield.

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Provision for finance receivable losses increased $240 million for the three
months ended March 31, 2022 when compared to the same period in 2021 primarily
driven by a significant release in our allowance reserve in the prior year
period and an increase in our current period charge-offs related to
normalization of delinquency rates to pre-pandemic levels.

Other revenues increased $22 million or 17% for the three months ended March 31,
2022 when compared to the same period in 2021 primarily due to an increase in
gains on the sales of finance receivables and an increase in servicing revenue
associated with the whole loan sale program as a result of more loans sold in
the current period.

Other expenses increased $37 million or 10% for the three months ended March 31,
2022 when compared to the same period in 2021 primarily due to an increase in
salaries and benefits due to an increase in headcount as we continue to invest
in our business, and an increase in insurance policy and benefits claims expense
resulting from lower than expected involuntary unemployment insurance claims in
the prior year period.


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                                Credit Quality



FINANCE RECEIVABLES

Our net finance receivables, consisting of personal loans and credit cards, were
$19.0 billion at March 31, 2022 and $19.2 billion at December 31, 2021. Our
personal loans are non-revolving, with a fixed-rate, fixed terms generally
between three and six years, and are secured by automobiles, other titled
collateral, or are unsecured. During the third quarter of 2021, we began
offering credit cards. Credit cards are open-ended, revolving, with a fixed
rate, and are unsecured. We consider the delinquency status of our finance
receivables as our key credit quality indicator. We monitor the delinquency of
our finance receivable portfolio, including the migration between the
delinquency buckets and changes in the delinquency trends to manage our exposure
to credit risk in the portfolio. Our branch and central operation team members
work with customers as necessary and offer a variety of borrower assistance
programs to help customers continue to make payments.

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We monitor delinquency trends to evaluate the risk of future credit losses and
employ advanced analytical tools to manage our exposure. Team members are
actively engaged in collection activities throughout the early stages of
delinquency. We closely track and report the percentage of receivables that are
contractually 30-89 days past due as a benchmark of portfolio quality,
collections effectiveness, and as a strong indicator of losses in coming
quarters.

When personal loans are contractually 60 days past due, we consider these
accounts to be at an increased risk for loss and collection of these accounts is
managed by our centralized operations. Use of our centralized operations teams
for managing late-stage delinquency allows us to apply more advanced collection
technologies and tools and drives operating efficiencies in servicing. We
consider our personal loans to be nonperforming at 90 days contractually past
due, at which point we stop accruing finance charges and reverse finance charges
previously accrued.

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The delinquency information for net finance receivables was as follows:

                                                       Consumer and Insurance                       Segment to
                                                                                                       GAAP                GAAP
(dollars in millions)                           Personal Loans          Credit Cards                Adjustment             Basis
March 31, 2022
Current                                        $      18,086           $        47                $        (2)         $  18,131
30-59 days past due                                      246                     2                          -                248
60-89 days past due                                      181                     1                          -                182

90+ days past due                                        418                     -                          -                418
Total net finance receivables                  $      18,931           $        50                $        (2)         $  18,979

Delinquency ratio
30-89 days past due                                     2.25   %              5.32  %                   *                   2.26  %
30+ days past due                                       4.46   %              5.97  %                   *                   4.47  %
60+ days past due                                       3.17   %              2.47  %                   *                   3.17  %
90+ days past due                                       2.21   %              0.66  %                   *                   2.21  %

December 31, 2021
Current                                        $      18,340           $        25                $        (3)         $  18,362
30-59 days past due                                      282                     -                          -                282
60-89 days past due                                      185                     -                          -                185

90+ days past due                                        383                     -                          -                383
Total net finance receivables                  $      19,190           $        25                $        (3)         $  19,212

Delinquency ratio
30-89 days past due                                     2.43   %              0.08  %                   *                   2.43  %
30+ days past due                                       4.43   %              0.08  %                   *                   4.42  %
60+ days past due                                       2.96   %                 -  %                   *                   2.96  %
90+ days past due                                       2.00   %                 -  %                   *                   1.99  %


* Not applicable
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ALLOWANCE FOR FINANCE RECEIVABLE LOSSES

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Our current methodology to estimate expected credit losses used the most recent
macroeconomic forecasts, which incorporated the overall unemployment rate. We
also considered inflationary pressures, supply chain concerns, geopolitical
risks, along with persistent labor supply shortages. Our forecast leveraged
economic projections from industry leading forecast providers. At March 31,
2022, our economic forecast used a reasonable and supportable period of 12
months. We may experience further changes to the macroeconomic assumptions
within our forecast, as well as changes to our loan loss performance outlook,
both of which could lead to further changes in our allowance for finance
receivable losses, allowance ratio, and provision for finance receivable losses.

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                                                        Consumer and Insurance                      Segment to
                                                                                                       GAAP             Consolidated
(dollars in millions)                            Personal Loans          Credit Cards               Adjustment             Total

Three Months Ended March 31, 2022
Balance at beginning of period                  $       2,097           $         5                $       (7)         $     2,095
Provision for finance receivable losses                   232                     5                         1                  238
Charge-offs                                              (329)                    -                         -                 (329)
Recoveries                                                 67                     -                         -                   67
Balance at end of period                        $       2,067           $        10                $       (6)         $     2,071

Allowance ratio                                         10.92   %             19.99  %                  (a)                  10.91  %

Three Months Ended March 31, 2021 (b)
Balance at beginning of period                  $       2,283           $         -                $      (14)         $     2,269
Provision for finance receivable losses                    (3)                    -                         1                   (2)
Charge-offs                                              (255)                    -                         -                 (255)
Recoveries                                                 50                     -                         -                   50
Balance at end of period                        $       2,075           $         -                $      (13)         $     2,062

Allowance ratio                                         11.81   %                 -  %                  (a)                  11.74  %


(a) Not applicable.
(b) There were no credit cards for the three months ended March 31, 2021 as the
product offering began in the third quarter of 2021.

The current delinquency status of our finance receivable portfolio, inclusive of
recent borrower performance, volume of our TDR activity, level and
recoverability of collateral securing our finance receivable portfolio, and the
reasonable and supportable forecast of economic conditions are the primary
drivers that can cause fluctuations in our allowance ratio from period to
period. We monitor the allowance ratio to ensure we have a sufficient level of
allowance for finance receivable losses based on the estimated lifetime expected
credit losses in our finance receivable portfolio. The allowance for finance
receivable losses as a percentage of net finance receivables for personal loans
decreased from the prior year period primarily due to improved unemployment
outlook. See Note 4 of the Notes to the Condensed Consolidated Financial
Statements included in this report for more information about the changes in the
allowance for finance receivable losses.

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TDR FINANCE RECEIVABLES

We make modifications to our finance receivables to assist borrowers
experiencing financial difficulties. When we modify a loan's contractual terms
for economic or other reasons related to the borrower's financial difficulties
and grant a concession that we would not otherwise consider, we classify that
loan as a TDR finance receivable.

Information regarding TDR net finance receivables for personal loans are as
follows:
                                                                               Segment to
                                                    Personal                      GAAP         GAAP
(dollars in millions)                                 Loans                    Adjustment      Basis

March 31, 2022
TDR net finance receivables                        $     674                  $      (18)     $ 656
Allowance for TDR finance receivable losses              271                          (8)       263

December 31, 2021
TDR net finance receivables                        $     671                  $      (21)     $ 650
Allowance for TDR finance receivable losses              279                

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DISTRIBUTION OF FINANCE RECEIVABLES BY FICO SCORE

There are many different categorizations used in the consumer lending industry
to describe the creditworthiness of a borrower, including prime, near-prime, and
sub-prime. While management does not utilize credit scores to manage credit
quality, we group FICO scores into the following categories for comparability
purposes across our industry:

•Prime: FICO score of 660 or higher
•Near-prime: FICO score of 620-659
•Sub-prime: FICO score of 619 or below

Our customers' demographics are, in many respects, near the national median but
may vary from national norms in terms of credit and repayment histories. Many of
our customers have experienced some level of prior financial difficulty or have
limited credit experience and require higher levels of servicing and support
from our branch network and central servicing operations.

The following table reflects our net finance receivables grouped into the
borrower categories described above based on borrower FICO credit scores as of
the most recently refreshed date or as of the loan origination or purchase date:

(dollars in millions)       Personal Loans       Credit Cards       Total

March 31, 2022
FICO scores
660 or higher              $         4,440      $          9      $  4,449
620-659                              5,029                15         5,044
619 or below                         9,460                26         9,486
Total                      $        18,929      $         50      $ 18,979

December 31, 2021
FICO scores *
660 or higher              $         4,897      $         14      $  4,911
620-659                              5,321                 7         5,328
619 or below                         8,969                 4         8,973
Total                      $        19,187      $         25      $ 19,212


* Due to the impact of COVID-19, FICO scores as of December 31, 2021 may have
been positively impacted by government stimulus measures, borrower assistance
programs, and potentially inconsistent reporting to credit bureaus.

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                       Liquidity and Capital Resources


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We finance the majority of our operating liquidity and capital needs through a
combination of cash flows from operations, secured debt, unsecured debt,
borrowings from revolving conduit facilities, whole loan sales, and equity. We
may also utilize other sources in the future. As a holding company, all of the
funds generated from our operations are earned by our operating subsidiaries.
Our operating subsidiaries' primary cash needs relate to funding our lending
activities, our debt service obligations, our operating expenses, payment of
insurance claims, and expenditures relating to upgrading and monitoring our
technology platform, risk systems, and branch locations.

We have previously purchased portions of our unsecured indebtedness, and we may
elect to purchase additional portions of our unsecured indebtedness or
securitized borrowings in the future. Future purchases may be made through the
open market, privately negotiated transactions with third parties, or pursuant
to one or more tender or exchange offers, all of which are subject to terms,
prices, and consideration we may determine at our discretion.

During the three months ended March 31, 2022, OMH generated net income of $301
million. OMH's net cash inflow from operating and investing activities totaled
$602 million for the three months ended March 31, 2022. At March 31, 2022, our
scheduled interest payments for the remainder of 2022 totaled $357 million, and
there are no scheduled principal payments for the remainder of 2022 on our
existing debt (excluding securitizations). As of March 31, 2022, we had $10.2
billion of unencumbered loans.

Based on our estimates and considering the risks and uncertainties of our plans,
we believe that we will have adequate liquidity to finance and operate our
businesses and repay our obligations as they become due for at least the next 24
months.

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On April 26, 2022, OMFC issued a notice to fully redeem its 8.875% Senior Notes
due 2025 on June 1, 2022. In connection with the redemption, OMFC expects to pay
a net aggregate amount of $637 million, inclusive of accrued interest and
premiums and recognize $26 million net loss on repurchases and repayments of
debt in the second quarter of 2022.

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During the three months ended March 31, 2022, we did not terminate, cancel, or
enter into any new securitizations or conduit facilities. At March 31, 2022, an
aggregate of $650 million was drawn under our conduit facilities, and the
remaining borrowing capacity was $5.4 billion. At March 31, 2022, we had $8.5
billion of gross finance receivables pledged as collateral for our
securitizations and conduit facilities.

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As part of our continued commitment to improve the financial well-being of
hardworking Americans, on April 27, 2022, OMFC completed its first social
securitization under Rule 144A. We issued $600 million principal amount of notes
backed by personal loans made to the target population identified in the OneMain
2022 ABS Social Framework, OMFIT 2022-S1. OMFIT 2022-S1 has a revolving period
of three years, during which no principal payments are required. See "Recent
Developments and Outlook" included in this report for further information on
OMFIT 2022-S1.

Private Secured Term Funding

On April 25, 2022, OMFC entered into a $350 million private secured term funding
collateralized by our personal loans. No principal payments are required to be
made during the first three years, followed by a subsequent one-year
amortization period at the expiration of which the outstanding principal amount
is due and payable.

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Credit Ratings

Our credit ratings impact our ability to access capital markets and our
borrowing costs. Rating agencies base their ratings on numerous factors,
including liquidity, capital adequacy, asset quality, quality of earnings, and
the probability of systemic support. Significant changes in these factors could
result in different ratings.

The table below outlines OMFC's long-term corporate debt ratings and outlook by
rating agencies:
As of March 31, 2022        Rating       Outlook

S&P                           BB         Stable
Moody's                      Ba2         Stable
KBRA                         BB+        Positive


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Stock Repurchased

During the three months ended March 31, 2022, OMH repurchased 2,282,552 shares
of its common stock through its stock repurchase program for an aggregate total
of $110 million, including commissions and fees. As of March 31, 2022, OMH held
a total of 8,981,004 shares of treasury stock. To provide funding for the OMH
stock repurchase, the OMFC Board of Directors authorized dividend payments in
the amount of $100 million.

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As of March 31, 2022, the dividend declarations for the current year by the
Board were as follows:
     Declaration Date                   Record Date                      Payment Date                  Dividend Per Share               Amount Paid
                                                                                                                                          (in millions)
February 2, 2022                 February 14, 2022                February 18, 2022                $             0.95                $           121

Total                                                                                              $             0.95                $           121


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On April 28, 2022, OMH declared a dividend of $0.95 per share payable on May 13,
2022 to record holders of OMH's common stock as of the close of business on
May 9, 2022. To provide funding for the OMH dividend, the OMFC Board of
Directors authorized a dividend in the amount of up to $120 million payable on
or after May 10, 2022.

While OMH intends to pay its minimum quarterly dividend, currently $0.95 per
share, for the foreseeable future, all subsequent dividends will be reviewed and
declared at the discretion of the Board and will depend on many factors,
including our financial condition, earnings, cash flows, capital requirements,
level of indebtedness, statutory and contractual restrictions applicable to the
payment of dividends, and other considerations that the Board deems relevant.
OMH's dividend payments may change from time to time, and the Board may choose
not to continue to declare dividends in the future. See our "Dividend Policy" in
Part II - Item 5 included in our Annual Report for further information.

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As of March 31, 2022, we have whole loan sale flow agreements with third
parties, with remaining terms of less than two years, in which we agreed to sell
a combined total of $180 million gross receivables per quarter of newly
originated unsecured personal loans along with any associated accrued interest.
Our first sale was executed in the first quarter of 2021. During the three
months ended March 31, 2022 and 2021, we sold $180 million and $45 million of
gross finance receivables, respectively. For further information on the whole
loan sale transactions, see Note 3 of the Notes to the Condensed Consolidated
Financial Statements included in this report.

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LIQUIDITY

OMH's Operating Activities

Net cash provided by operations of $552 million for the three months ended March
31, 2022 reflected net income of $301 million, the impact of non-cash items, and
an unfavorable change in working capital of $62 million. Net cash provided by
operations of $556 million for the three months ended March 31, 2021 reflected
net income of $413 million, the impact of non-cash items, and an unfavorable
change in working capital of $23 million.

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Net cash provided by investing activities of $50 million for the three months
ended March 31, 2022 was primarily due to proceeds from sales of finance
receivables and calls, sales, and maturities of available-for-sale securities,
partially offset by net principal originations and purchases of finance
receivables and purchases of available-for-sale securities. Net cash provided by
investing activities of $198 million for the three months ended March 31, 2021
was primarily due to net principal collections of finance receivables, calls,
sales, and maturities of available-for-sale and other securities, partially
offset by purchases of available-for-sale and other securities.

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Net cash used for financing activities of $448 million for the three months
ended March 31, 2022 was primarily due to debt repayments, cash dividends paid,
and the cash paid to repurchase common stock during the period, partially offset
by proceeds from borrowings of long-term debt. Net cash used for financing
activities of $1.6 billion for the three months ended March 31, 2021 was
primarily due to debt repayments and cash dividends paid.

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OMFC's credit ratings are non-investment grade, which has a significant impact
on our cost and access to capital. This, in turn, can negatively affect our
ability to manage our liquidity and our ability or cost to refinance our
indebtedness. There are numerous risks to our financial results, liquidity,
capital raising, and debt refinancing plans, some of which may not be quantified
in our current liquidity forecasts. These risks are further described in our
"Liquidity and Capital Resources" of Management's Discussion and Analysis of
Financial Condition and Results of Operations in Part II - Item 7 included in
our Annual Report.

The principal factors that could decrease our liquidity are customer
delinquencies and defaults, a decline in customer prepayments, and a prolonged
inability to adequately access capital market funding. We intend to support our
liquidity position by utilizing strategies that are further described in our
"Liquidity and Capital Resources" of Management's Discussion and Analysis of
Financial Condition and Results of Operations in Part II - Item 7 included in
our Annual Report.

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Our insurance subsidiaries are subject to state regulations that limit their
ability to pay dividends. AHL and Triton did not pay any dividends during the
three months ended March 31, 2022 and 2021. See Note 10 of the Notes to the
Consolidated Financial Statements in Part II - Item 8 included in our Annual
Report for further information on these state restrictions and the dividends
paid by our insurance subsidiaries in 2021.

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OUR DEBT AGREEMENTS

The debt agreements which OMFC and its subsidiaries are a party to include
customary terms and conditions, including covenants and representations and
warranties. See Note 8 of the Notes to the Consolidated Financial Statements in
Part II - Item 8 included in our Annual Report for more information on the
restrictive covenants under OMFC's debt agreements, as well as the guarantees of
OMFC's long-term debt.

Securitized Borrowings

We execute private securitizations under Rule 144A of the Securities Act of
1933, as amended. As of March 31, 2022, our structured financings consisted of
the following:
                                                                                                                 Current
                                                                Initial                  Current                Collateral              Current               Original
                                         Issue Amount          Collateral             Note Amounts               Balance            Weighted Average         Revolving
(dollars in millions)                        (a)                Balance              Outstanding (a)               (b)               Interest Rate             Period

OMFIT 2015-3                             $     293          $         329          $             59          $          84                   6.30  %              5 years
OMFIT 2016-3                                   350                    397                       110                    193                   5.27  %              5 years
OMFIT 2018-1                                   632                    650                       233                    274                   4.08  %              3 years
OMFIT 2018-2                                   368                    381                       350                    400                   3.87  %              5 years
OMFIT 2019-1                                   632                    654                       215                    260                   4.35  %              2 years
OMFIT 2019-2                                   900                    947                       900                    995                   3.30  %              7 years
OMFIT 2019-A                                   789                    892                       750                    892                   3.78  %              7 years
OMFIT 2020-1                                   821                    958                       821                    958                   4.12  %              2 years
OMFIT 2020-2                                 1,000                  1,053                     1,000                  1,053                   2.03  %              5 years
OMFIT 2021-1                                   850                    904                       850                    904                   1.57  %              5 years

ODART 2018-1                                   947                    964                       196                    217                   3.98  %              2 years
ODART 2019-1                                   737                    750                       700                    750                   3.79  %              5 years
ODART 2021-1                                 1,000                  1,053                     1,000                  1,053                   0.98  %              2 years
Total securitizations                    $   9,319          $       9,932          $          7,184          $       8,033


(a) Issue Amount includes the retained interest amounts as applicable and the
Current Note Amounts Outstanding balances reflect pay-downs subsequent to note
issuance and exclude retained interest amounts.

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In addition to the structured financings, we had access to 14 revolving conduit
facilities with a total borrowing capacity of $6.0 billion as of March 31, 2022:
                                                                          Amount
(dollars in millions)                       Advance Maximum Balance       Drawn

OneMain Financial Funding VII, LLC         $                    600      $  

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OneMain Financial Funding IX, LLC                               600         

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Mystic River Funding, LLC                                       600         

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OneMain Financial Auto Funding I, LLC                           550           -
Seine River Funding, LLC                                        550         150
Chicago River Funding, LLC                                      500           -
Hudson River Funding, LLC                                       500           -
OneMain Financial Funding VIII, LLC                             400           -
Thayer Brook Funding, LLC                                       350           -
Columbia River Funding, LLC                                     350           -
Hubbard River Funding, LLC                                      250           -
New River Funding Trust                                         250           -
River Thames Funding, LLC                                       250         250
St. Lawrence River Funding, LLC                                 250         250
Total                                      $                  6,000      $  650


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                   Critical Accounting Policies and Estimates



We describe our significant accounting policies used in the preparation of our
consolidated financial statements in Note 2 of the Notes to the Consolidated
Financial Statements in Part II - Item 8 included in our Annual Report. We
consider the following policies to be our most critical accounting policies
because they involve critical accounting estimates and a significant degree of
management judgment:

•allowance for finance receivable losses; and
•TDR finance receivables.

There have been no material changes to our critical accounting policies or to
our methodologies for deriving critical accounting estimates during the three
months ended March 31, 2022.

                       Recent Accounting Pronouncements



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                                  Seasonality



Our personal loan volume is generally highest during the second and fourth
quarters of the year, primarily due to marketing efforts and seasonality of
demand. Demand for our personal loans is usually lower in January and February
after the holiday season and as a result of tax refunds. Delinquencies on our
personal loans are generally lower in the first and second quarters and tend to
rise throughout the remainder of the year. These seasonal trends contribute to
fluctuations in our operating results and cash needs throughout the year.

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