Alliance Data First Quarter 2021 ResultsApril 29, 2021Ralph Andretta – President & CEO

Forward-Looking StatementsThis presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, initiation or completion of strategic initiatives, future dividend declarations, and future economic conditions, including, but not limited to, fluctuation in currency exchange rates, market conditions and COVID-19 impacts related to relief measures for impacted borrowers and depositors, labor shortages due to quarantine, reduction in demand from clients, supply chain disruption for our reward suppliers and disruptions in the airline or travel industries.We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this presentation, and no assurances can be given that our expectations will prove to have been correct. These risks and uncertainties include, but are not limited to, factors set forth in the Risk Factors section in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise. 2

First Quarter 2021 Key Takeaways 3 Credit sales returning to pre-pandemic levels aligned with improving consumer confidence and activityDigital sales strength continues while in-store activity has begun to recover, supporting our outlook for improved credit sales performanceStrong momentum with BreadSuccessful launch of card brand partner on Bread platformNew Bread strategic partnership leveraging Fiserv’s extensive merchant networkCredit performance improved as a result of strategic risk management changes, deliberate underwriting actions, and direct consumer stimulus payments

$1.1B Revenue $286MMNet Income Net Income of $286 million includes a net reserve release of $165 million, or $2.40 per diluted shareRevenue declined 21% year-over-year, while total expenses excluding provision for loan loss declined 6%Credit sales of $6.0 billion in 1Q21, which were virtually flat compared to 1Q20Average receivables were down 14% year-over-year, yet remained flat to 4Q20Credit metrics remained strong with a net loss rate of 5.0% for the quarter 4 First Quarter 2021 Financial Highlights $5.74Diluted EPS

Card Services Performance Highlights 5 Improvement in year-over-year credit sales performance aligns with increasing consumer confidence Total application growth improved sequentially with applications flat year-over-year New accounts were up 1% year-over-yearCredit sales performance continues to improve and stabilize year-over-yearThe majority of the credit sales performance improvement can be attributed to in-store sales, which have benefitted from increased consumer confidence and mobility*Online sales remained at 40% of total in 1Q21 * Mobility is based on time spent away from home, estimated using cellphone location data from Google users who have enabled the Location History setting.** Consumer confidence in last month of the quarter and sourced from https://tradingeconomics.com/united-states/consumer-confidence

Card Services Partnership HighlightsContinued growth brings total partnerships to approximately 650 6 Partner Renewal Select New Partnerships Strategic Partnership Primary omnichannel provider of point-of-sale lending products

Bread Business ModelsPlatform provides diversified growth opportunities 7 Installment loan and Buy Now, Pay Later products can be white-labeled (partner-branded) or branded Bread in the Direct Acquisition and Distribution model Direct Acquisition Distribution Technology Platform Merchant Acquirer Network / Platform(Always Bread) Issuer / Loan Originator(Owns Consumer Relationship & Holds Accounts Receivable)

LoyaltyOne® Performance Highlights AIR MILES reward miles issued and redeemed declined vs 1Q20 due to continued lockdown in CanadaAIR MILES is working with airline partners to plan for the eventual comeback of airline travel with optimism for bookings in 2H21 8 AIR MILES program performance BrandLoyalty’s new program activity is picking up with a strong pipeline of clients in the second half of 2021Consumers are actively engaged in loyalty campaigns with particular success in products focused on the home

Financial Results – Consolidated 9 ($ in millions, except per share) 1Q21 1Q20 % Change Total revenue $1,085 $1,382 (21) % Total operating expenses, excl. provision for loan loss 548 562 (2) Interest expense, net 109 139 (22) Total expenses excl. provision for loan loss 657 701 (6) % Provision for loan loss 33 656 (95) Total earnings before tax (EBT) $394 $25 1,452 % Income tax 108 (5) nm Net income $286 $30 854 % Net income per diluted share $5.74 $0.63 811 % Diluted average shares outstanding 49.8 47.7 Shares of common stock outstanding 49.7 47.6 Pre-provision, pre-tax earnings $428 $681 (37) % See appendix for Core EPS and Adjusted EBITDA calculationsTotals may not sum due to rounding; nm = not meaningful

Totals may not sum due to rounding Financial Results – Segments 1Q21 total revenue* 1Q21 total earnings before tax* 10 * Percentages based on Card Services and LoyaltyOne segments combined as reported excluding Corporate/Other and intersegment eliminations ($ in millions) 1Q21 1Q20 % Change LoyaltyOne $177 $198 (11) % Card Services 908 1,184 (23) Total revenue $1,085 $1,382 (21) % LoyaltyOne $32 $47 (32) % Card Services 410 32 1,179 Corporate/Other (47) (53) (12) Total earnings before tax (EBT) $394 $25 1,452 %

11 Key Business Metrics Card Services revenue improved 3% on a sequential basis with steady receivables and a 70bp pickup in gross yieldLoyaltyOne revenue was down 24% on a sequential basis with declines in both AIR MILES and BrandLoyaltyTotal operating expenses excluding provision for loan loss decreased $154 million sequentially as a result of the nearly $50 million of real estate optimization costs in 4Q20, an approximately $40 million decrease in cost of redemptions in our LoyaltyOne business, an approximately $30 million decrease in depreciation and amortization expense, and an approximately $21 million seasonal decrease in marketing spend Card Services yield improved sequentially in 1Q21 Average receivables remained flat sequentially($ in billions) *Revenue divided by normalized average receivables

Improvement in net loss rate is a result of prudent risk management strategy, deliberate underwriting actions, and direct consumer stimulus paymentsContinued decline in delinquency rate is a positive indicator for 2021 performanceAllowance of $1.8 billion is down $165 million from 4Q20 12 Credit Quality and Allowance 5 year Max rate: 7.6% 5 year Min rate: 4.7% 5 year Avg rate: ~6.0% Delinquency rate Net loss rate Reserve rate ($ in millions) * Net loss rate impacted by pandemic-related consumer relief program.** Calculated as a percentage of allowance for loan loss to end of period credit card and loan receivables ** historic quarterly range for the last five years * *

13 2021 Financial Outlook Full Year 2020Actuals Full Year 2021Outlook Commentary Average receivables 2020 = $16,367 million Down mid-single-digits Sequential decline in 2Q21 Flat year-over-year in 2H21Expect year-end receivables to be in line with year-end 2020Credit sales up high-single- to low-double-digits in 2021 Total revenue2020 = $4,521 million Down low-single-digits LoyaltyOne full year revenue growth in 2021Revenue pressure for Card Services as receivable balances rebuild from pandemic-related reductionsGross card yields remain steady Total expenses*(Excludes provision for loan loss)2020 = $2,861 million Flat Includes increased digital investment and a ramp up in marketing spend from depressed levels in 2020Impacted by Bread® & Fiserv related transition expenses Net loss rate2020 = 6.6% Expected 2Q21 net loss rate in mid-to-upper 5% range Net loss rate for 2021 projecting better than the historic average of 6% * Total expenses represent total operating expenses excluding provision for loan loss plus total interest expense, net

Financial MeasuresIn addition to the results presented in accordance with generally accepted accounting principles, or GAAP, the Company may present financial measures that are non-GAAP measures, such as constant currency financial measures, pre-provision earnings before taxes, adjusted EBITDA, adjusted EBITDA margin, adjusted EBITDA, net of funding costs, core earnings and core earnings per diluted share (core EPS). Constant currency excludes the impact of fluctuations in foreign exchange rates. The Company calculates constant currency by converting our current period local currency financial results using the prior period exchange rates. Adjusted EBITDA eliminates the uneven effect across all reportable segments of non-cash depreciation of tangible assets and amortization of intangible assets, including certain intangible assets that were recognized in business combinations, and the non-cash effect of stock compensation expense. In addition, adjusted EBITDA eliminates the effect of the gain (loss) on the sale of a business, strategic transaction costs, asset impairments, restructuring and other charges, and the loss on extinguishment of debt. Adjusted EBITDA, net is equal to adjusted EBITDA less securitization funding costs and interest expense on deposits. Similarly, core earnings and core EPS eliminate non-cash or non-operating items, including, but not limited to, stock compensation expense, amortization of purchased intangibles, non-cash interest, gain (loss) on the sale of a business, strategic transaction costs, asset impairments, restructuring and other charges, and the loss on extinguishment of debt. The Company believes that these non-GAAP financial measures, viewed in addition to and not in lieu of the Company’s reported GAAP results, provide useful information to investors regarding the Company’s performance and overall results of operations. 14

Appendix 15

1Q21 1Q20 1Q21 vs 4Q20 1Q21 vs 1Q20 4Q20 LoyaltyOne (in millions) AIR MILES reward miles issued 1,112 1,316 (16)% 1,355 (18)% AIR MILES reward miles redeemed 739 994 (26)% 838 (12)% Card Services ($ in millions) Credit sales $6,043 $6,099 (1)% $7,657 (21)% Average receivables $15,785 $18,294 (14)% $15,759 - % Normalized average receivables* $15,785 $18,553 (15)% $15,759 - % End of period receivables $15,537 $17,732 (12)% $16,784 (7)% Total gross yield %** 23.0% 25.5% (2.5)% 22.3% 0.7% Cost of funds 2.0% 2.4% (0.4)% 2.1% (0.1)% Principal loss rate 5.0% 7.0% (2.0)% 6.0% (1.0)% Reserve rate 11.9% 12.1% (0.2)% 12.0% (0.1)% Delinquency rate 3.8% 6.0% (2.2)% 4.4% (0.6)% Return on equity 27% 18% 9% 16% 11% Key Business Metrics 16 *Normalized average receivables includes held-for-sale receivables**Revenue divided by normalized average receivables

1Q20 2Q20 3Q20 4Q20 1Q21 LoyaltyOne (in millions) AIR MILES reward miles issued 1,316 1,053 1,240 1,355 1,112 AIR MILES reward miles redeemed 994 608 687 838 739 Card Services ($ in millions) Credit sales $6,099 $4,799 $6,152 $7,657 $6,043 Average receivables $18,294 $16,116 $15,300 $15,759 $15,785 Normalized average receivables* $18,553 $16,204 $15,356 $15,759 $15,785 End of period receivables $17,732 $15,809 $15,599 $16,784 $15,537 Total gross yield %** 25.5% 20.4% 22.5% 22.3% 23.0% Cost of funds 2.4% 2.5% 2.4% 2.1% 2.0% Principal loss rate 7.0% 7.6% 5.8% 6.0% 5.0% Reserve rate 12.1% 13.3% 13.3% 12.0% 11.9% Delinquency rate 6.0% 4.3% 4.7% 4.4% 3.8% Return on equity 18% 15% 14% 16% 27% Key Business Metrics 17 *Normalized average receivables includes held-for-sale receivables**Revenue divided by normalized average receivables

Financial Results – Quarterly 18 ($ in millions, except per share) 1Q20 2Q20 3Q20 4Q20 1Q21 Total revenue $1,382 $979 $1,050 $1,110 $1,085 Total operating expenses, excl. provision for loan loss 562 555 552 699 548 Interest expense, net 139 128 115 113 109 Total expenses excl. provision for loan loss 701 683 667 812 657 Provision for loan loss 656 250 208 152 33 Total earnings before tax (EBT) $25 $47 $176 $146 $394 Income tax (5) 9 43 53 108 Income from continuing operations $30 $38 $133 $93 $286 Income from continuing operations per diluted share $0.63 $0.81 $2.79 $1.93 $5.74 Diluted average shares outstanding 47.7 47.7 47.8 48.4 49.8 Shares of common stock outstanding 47.6 47.7 47.7 49.7 49.7 Pre-provision, pre-tax earnings $681 $297 $384 $299 $428 ************************************************************************************************************ (Including discontinued operations) Net income $30 $38 $133 $12 $286 Net income per diluted share $0.63 $0.81 $2.79 $0.25 $5.74 Totals may not sum due to rounding

Financial Results – Segments by Quarter 19 ($ in millions) 1Q20 2Q20 3Q20 4Q20 1Q21 LoyaltyOne $198 $151 $185 $231 $177 Card Services 1,184 828 866 879 908 Corporate/Other - - - - - Total revenue $1,382 $979 $1,050 $1,110 $1,085 LoyaltyOne $47 $24 $18 $22 $32 Card Services 32 70 212 187 410 Corporate/Other (53) (47) (55) (63) (47) Total earnings before tax (EBT) $25 $47 $176 $146 $394 Totals may not sum due to rounding

Parent Level Liquidity at 3/31 of $1.1 billion, consisting of cash on hand plus revolver capacity Approximately $373 million in cash and cash equivalents, $750.0 million in unused revolverBank LevelBanks finished the quarter with $2.5 billion in cash and $2.9 billion in equityTotal risk based capital ratio at 22.3% - over double the 10% threshold to be considered well-capitalized; CET1 at 21.0%Funding readily available with heavy demand for FDIC-insured deposit products – both direct-to-consumer and brokered 20 Capital and Liquidity Combined Banks Capital Ratios 1Q20 2Q20 3Q20 4Q20 1Q21 Common equity tier 1 capital ratio 15.9% 18.3% 18.8% 18.4% 21.0% Tier 1 capital ratio 15.9% 18.3% 18.8% 18.4% 21.0% Total risk based capital ratio 17.3% 19.7% 20.1% 19.7% 22.3% Tier 1 leverage capital ratio 12.8% 14.2% 16.1% 17.1% 17.8%

Card Services Sales Data In-store vs. digital sales Digital includes all non-store new accounts and Bread $ in billions In-store vs. digital new accounts 21 In millions

22 (1) Represents amortization of debt issuance costs.(2) Represents costs for professional services associated with strategic initiatives.(3) Represents adjustments to our liability associated with restructuring or other exit activities recorded for cost saving initiatives executed in 2019.(4) Represents the tax effect including the related non-GAAP measure adjustments using the expected effective annual tax rate. Reconciliation of Non-GAAP Information ($ in millions, except per share amounts) 1Q21 Net income $286.2 Add back non-cash/ non-operating items: Stock compensation expense 6.8 Amortization of purchased intangibles 11.1 Non-cash interest(1) 8.5 Strategic transaction costs(2) 2.8 Restructuring and other charges(3) (0.4) Income tax effect(4) (1.8) Core earnings $313.2 ********************************************************************** Weighted average shares outstanding – diluted 49.8 Core earnings per share – diluted $6.28

23 Reconciliation of Non-GAAP Information (1) Represents costs for professional services associated with strategic initiatives.(2) Represents adjustments to our liability associated with restructuring or other exit activities recorded for cost saving initiatives executed in 2019. ($ in millions) LoyaltyOne Card Services Corporate 1Q21 Total Income (loss) before income taxes $31.7 $409.9 $(47.2) $394.4 Interest expense, net - 79.1 29.6 108.7 Operating income (loss) $31.7 $489.0 $(17.6) $503.1 Depreciation and amortization 9.0 24.4 0.6 34.0 Stock compensation expense 1.5 2.4 2.9 6.8 Strategic transaction costs(1) - - 2.8 2.8 Restructuring and other charges(2) - - (0.4) (0.4) Adjusted EBITDA $42.2 $515.8 $(11.7) $546.3 Less: Securitization funding costs - 33.6 - 33.6 Less: Interest expense on deposits - 45.5 - 45.5 Adjusted EBITDA, net $42.2 $436.7 $(11.7) $467.2