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On April 22, 2024, SoFi Technologies, Inc. (the “Company” or “SoFi”) notified holders of its Series 1 Redeemable Preferred Stock (“Series 1 Preferred Stock”) that, in accordance with the Company’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”), it intends to redeem all of the 3,234,000 shares of Series 1 Preferred Stock outstanding on May 29, 2024 at the “Series 1 Redemption Price”, determined in accordance with the Certificate of Incorporation, of (i) $100 per share of Series 1 Preferred Stock plus (ii) an amount in cash equal to any accumulated and compounded (if applicable) and unpaid dividends on the Series 1 Preferred Stock to, but excluding, the payment date, which is equal to approximately $105.1027 per share and an aggregate payment of $339,902,260.27. The Company expects to save approximately $29.3 million in 2024 in dividend payments by redeeming the outstanding shares of Series 1 Preferred Stock, which has a 12.5% annual dividend, set to rise in May 2024. The current holders of the Series 1 Preferred Stock include QIA FIG Holding LLC, entities affiliated with Silver Lake, and Anthony Noto, the Company's Chief Executive Officer.

The information in this Item 7.01 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any of the information contained in this Item 7.01.

This Current Report on Form 8-K includes forward-looking statements, including statements regarding the effects of redeeming the Series 1 Preferred Stock as described above. Forward-looking statements represent SoFi’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, and there can be no assurance that future developments affecting SoFi will be those that it has anticipated. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of SoFi's common stock and risks relating to SoFi’s business, including those described in periodic reports that SoFi files from time to time with the Securities and Exchange Commission (the “SEC”).

For additional information on these and other factors that could affect SoFi’s actual results, see the risk factors set forth in SoFi’s filings with the SEC, including the most recent Annual Report on Form 10-K filed with the SEC on February 27, 2024. The forward-looking statements included in this Current Report on Form 8-K speak only as of the date of this Current Report on Form 8-K, and SoFi does not undertake to update the statements included in this Current Report on Form 8-K for subsequent developments, except as may be required by law.

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.