Ieg Holdings Cp / (IEGH-OTC) Current Price (11/10/17) / $0.28 Valuation OUTLOOK

Month Day, Year

Small-Cap Research Steven Ralston 312-265-xxxx [email protected]

scr.zacks.com 10 S. Riverside Plaza, Chicago, IL 60606 Ieg Holdings Cp (IEGH-OTC)

IEGH: Zacks Company Report

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KEY POINTS

 Analyst must write

Current Price (11/10/17) $0.28 Valuation

OUTLOOK Analyst must write SUMMARY DATA 52-WeekRisk LevelHigh $7.50 High, 52-WeekType Lowof Stock $0.17Small-Value One-YearIndustry Return (%) -80.11Fin-Cons Loans BetaZacks Rank in Industry -1.66 Average Daily Volume (sh) 17,967 ZACKS ESTIMATES Shares Outstanding (mil) 12 Revenue Market Capitalization ($mil) $3 (in millions of $) Short Interest Ratio (days) N/A Q1 Q2 Q3 Q4 Year Institutional Ownership (%) 0 (Mar) (Jun) (Sep) (Dec) (Dec) Insider Ownership (%) 72 2015 0 A 0 A 1 A 1 A 2 A 2016 1 A 1 A 1 A 1 A 2 A Annual Cash Dividend $0.02 2017 Dividend Yield (%) 7.27 0 A 0 A 0 A 0 E 2 E 2018 OVERVIEW 2 E 5-Yr. Historical Growth Rates Price/Sales Ratio (Industry = 2.5x) Sales (%) 45.5 Analyst must write Earnings Per Share (%) N/A Q1 Q2 Q3 Q4 Year Dividend (%) N/A (Mar) (Jun) (Sep) (Dec) (Dec) 2015 P/E using TTM EPS N/A 2016 -$0.30 A -$0.10 A -$0.16 A -$0.60 A P/E using 2017 Estimate -1.1 2017 -$0.05 A -$0.10 A -$0.06 E -$0.06 E -$0.26 E 2018 P/E using 2018 Estimate N/A Zacks Projected EPS Growth Rate - Next 5 Years % N/A © Copyright 2018, Zacks Investment Research. All Rights Reserved. Zacks Rank N/A N/A N/A increasing receivable growth and reduced credit cost, which should more than offset lower net interest margins caused by rising short-term rates. Some companies that are overly dependent on mortgage originations may suffer, although many of these companies have diversified earnings base. With the exception of the last group, we believe the outlook for most of these companies is improving.

INDUSTRY POSITION

Analyst must write

Top 5 Public Companies in the industry

INDUSTRY OUTLOOK Ticker Company Market Share Zacks Rec INDUSTRY OUTLOOK - POSITIVE COF Capital One Fin 36.40975 Hold ALLY Ally Financial 14.74603 Hold DFS Discover Fin Sv 14.66061 Hold Our outlook for the finance industry is positive. NAVI Navient Corp 8.59867 Buy The industry is composed of a diverse group of SC Santander Cnsmr 8.49595 Hold primarily consumer-related finance businesses. The last few years have seen relatively strong spending at the consumer level supported by a strong housing market. Record low mortgage rates have also created a boom for many housing finance-related companies. Going forward, we believe that the housing market will cool down from its heated level, but an RECENT NEWS improving economy will sustain consumer spending growth. These trends will have different effects on the various sectors of the Analyst must write industry. In particular, mortgage insurance companies will benefit from reduced refinancing, which leads to premature mortgage prepayments. Credit card and commercial finance companies should benefit from

Zacks Investment Research Page 2 scr.zacks.com PROJECTED INCOME STATEMENT & BALANCE SHEET

Ieg Holdings Cp Income Statement and Balance Sheet VALUATION (Dollars in millions, except EPS data)

12/12 12/13 12/14 12/15 12/16 12/17E Analyst must writeSales N/A N/A 1 2 2 2 Cost of Goods Sold N/A N/A 0 0 0 0 SG&A N/A N/A 5 7 7 5 Other operating N/A N/A 0 0 0 0 expenses Interest and other N/A N/A 1 1 0 0 Zacks Adjusted Income N/A N/A N/A N/A -5 -3 Industrybefore NRIComparables Net Income N/A N/A -5 -6 -5 -3 Diluted EPS before NRI N/A EPSN/A N/A N/A -0.60 -0.26 Pr P/E Reported EPS N/A N/AGr Price/N/APrice/ Price/N/A -0.60 -0.26 Chg CurrFY 5Yr Book Sales CF Cash & Marketable YTD N/A N/AEst 0 0 0 0 IEG SecuritiesHOLDINGS CP -94.9 0.4 1.8 Current Assets N/A N/A 5 8 7 7 IndustryCurrent Mean Liabilities -8.4 N/A12.9 N/A5.6 1.5 0 2.1 10.10 0 0 IndustryLong Median Term Debt -6.1 N/A11.8 N/A5.7 1.2 2 1.4 8.40 0 0 S&PShareholder's 500 Equity 15.4 N/A19.8 N/A 8.2 2 4.2 20.08 7 4

MANHATTAN -22.4 2.1 8.6 16.3 BRIDG CHINA LENDING -37.7 0.8 2.8 5.3 HISTORICAL STOCK PRICE

RISKS  Analyst must write.

INSIDER TRADING AND OWNERSHIP

Analyst must write.

Zacks Investment Research Page 3 scr.zacks.com Zacks Investment Research Page 4 scr.zacks.com Additional information is available upon request. Zacks SCR reports and articles are based on data obtained from sources that DISCLOSURES it believes to be reliable, but are not guaranteed to be accurate nor do they purport to be complete. Because of individual financial or investment objectives and/or financial circumstances, this The following disclosures relate to relationships between Zacks report or article should not be construed as advice designed to Small-Cap Research (“Zacks SCR”), a division of Zacks meet the particular investment needs of any investor. Investing Investment Research (“ZIR”), and the issuers covered by the involves risk. Any opinions expressed by Zacks SCR Analysts are Zacks SCR Analysts in the Small-Cap Universe. subject to change without notice. Reports or articles or tweets are not to be construed as an offer or solicitation of an offer to buy or sell the securities herein mentioned. ANALYST DISCLOSURES

I, Steven Ralston, hereby certify that the view expressed in this research report accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the recommendations or views expressed in this research report. I believe the information used for the creation of this report has been obtained from sources I considered to be reliable, but I can neither guarantee nor represent the completeness or accuracy of the information herewith. Such information and the opinions expressed are subject to change without notice.

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POLICY DISCLOSURES

This report provides an objective valuation of the issuer today and expected valuations of the issuer at various future dates based on applying standard investment valuation methodologies to the revenue and EPS forecasts made by the SCR Analyst of the issuer’s business.

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ADDITIONAL INFORMATION

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