Changes to Grace Period Interest Accrual

We continually revisit our processes and procedures to optimize the performance of our marketplace. [LendingClub]( Changes to Grace Period Interest Accrual Dear Investor, As you know, we continually revisit our processes and procedures to optimize the performance of our marketplace. Starting today, Feb 24, 2017, we are eliminating the grace period interest waiver in order to better align borrower payment incentives as we seek to deliver solid returns to our investors. Please see details below and don't hesitate to let us know if you have any questions. • Lending Club historically offered borrowers a 15-day "grace period" in which they could make payments after their due date without penalty. Historically, if borrowers made a payment within the first 15 days after their due date: 1) they would not accrue a late fee for paying their amount due late; and 2) any interest accrued during grace period would be waived. • Under the new policy, if a borrower pays between 1-15 days past their due date, they will still receive the benefit of not accruing a late fee, but they will now have to pay the additional accrued interest as a result of their late payment. This will have the effect of additional interest being accrued over the life of the loan due to the incremental higher principal balance throughout the life of the loan. Any additional interest accrued over the life of the loan ultimately has the effect of increasing the loan maturity by one month. • New policy will be applied on all payments going forward for all loans as of February 24, 2017. We believe this policy is beneficial for both borrowers and investors. As always, thank you for your business, and feel free to reach out to investing@lendingclub.com or [(888) 596-3159](tel:8885963159) M-F 7am-5pm PT with any questions. Best regards, The Lending Club Team [phone](mailto:investing@lendingclub.com) Questions? Please call (888) 596-3159 7am-5pm PT, M-F or email investing@lendingclub.com. Find Us On [facebook]( [twitter]( {EMAIL} is receiving this message because we are notifying you of a transaction that has occurred in an account registered at Lending Club and associated with this e-mail. This transactional message is being sent in accordance with Lending Club's [Terms of Use](. You cannot opt-out of receiving transactional emails as they provide important information about your account. Please view the "Communications from Our Site" section of Lending Club's [Privacy Policy]( if you have any questions. Currently only residents of the following states may invest in Lending Club Notes: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, ND, NE, NH, NJ, NV, NY, OK, OR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, or WY. Lending Club Notes are issued pursuant to a [prospectus]( on file with the SEC. You should review the risks and uncertainties described in the [prospectus]( related to your possible investment in the Notes. Lending Club's mailing address is: Lending Club, 71 Stevenson, Suite 300, San Francisco, CA 94105.