LexinFintech Wins The Asian Banker Award for the Third Year in a Row

SHENZHEN,China,July 22,2021 -- LexinFintech Holdings Ltd. ("Lexin" or the "Company") (NASDAQ:LX),a leading online consumption and consumer finance platform for new generation consumers inChina,has been awardedThe Best Digital Business Model Initiative/Application by The Asian Banker's Excellence in Retail Financial Services Awards 2021 programme.

"The winning digital business model introduced an online and offline business ecosystem that integrates consumption,financial and business services including financial technology services,"buy now pay later" ("BNPL") services,and membership benefits. These product offerings will enable them to connect 80 million merchants,200 financial institutions with 500 million Chinese consumers," The Asian Banker,whose awards are seen as an undisputed benchmark measuring the performance of the best banks and fintech companies in Asia,commented,regarding Lexin's third consecutive win of its awards. Lexin also won Best AI and Innovation Lab in China in 2020 and Best Lending Technology in China in 2019 from The Asian Banker.

Aside from serving young Chinese consumers with consumption solutions and merchants with innovative marketing solutions,Lexin is also leveraging its solid internet product experience,operating capabilities,and financial technologies to help financial institutions tackle challenges such as traffic acquisition,developing new operating models,and improving efficiency in risk management. Its risk profiling and strategy optimizing services can effectively identify the quality portion of denied loan applicants and help financial institutions improve loan-issuance rates by 20-30 percent while maintaining stable asset quality.

Lexin's innovative business ecosystem is empowered by its technological innovations and advancements. The Company deploys innovative technologies such as artificial intelligence and big data throughout every step of its transaction processes,including customer acquisition,risk management,fund matching,and operations,to enhance operational efficiency.

For risk management,Lexin established AI capabilities in forecasting users' life cycle delinquencies to reduce risks and to improve efficiency in loan issuance,transaction processing,and anti-fraud,etc. The Company's automatic attribution feature significantly enhances the efficiency of risk management by diagnosing the causes of risks in real-time,sparing analysts the time and effort for data collation.

Lexin's asset quality continues to improve thanks to its technological innovations. Lexin's 90 day+ delinquency rate was at 1.84% as of March 31,2021,and the first payment default rate (30 day+) has been below 1% for 8 months as of March 31,effectively resolving the pandemic-related risks while maintaining a high level of performance.

"We believe that an outstanding institution in retail financial services demonstrates a long- term sustainable franchise,based on strong business processes that lead to a consistent and profitable performance. It recognizes financial institutions for their vision,execution and market leading propositions that can make a real impact to the financial institution and its consumers," said The Asian Banker.

The Asian Banker Awards are generally viewed by executives as one of the most rigorous,prestigious and transparent financial awards in Asia. Lexin was one of nearly 250 applicants from over 30 countries that The Asian Banker's research team spent over 4 months reviewing and investigating before making the final decision. Previous winners of the award include world-renowned financial institutions such as Citigroup,Ant Financial and ICBC.

About LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. is a leading online consumption and finance platform for new generation consumers and users in China. The Company provides a comprehensive range of consumption,and membership benefits through its ecommerce platform Fenqile,BNPL product Maiya,and membership platform Le Card. The Company works with financial institutions and brands both online and offline to provide a comprehensive consumption ecosystem catering to the needs of young professionals in China. Lexin utilizes advanced technologies such as big data,cloud computing and artificial intelligence throughout the Company's services and operations,which include risk management,loan facilitation,and the near-instantaneous matching of users' funding requests with offers from the Company's many funding partners,and other consumption and financial services.

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Media inquiries:

Limin Chen

Tel: +86 (755) 3637-8888 ext. 6993

E-mail: liminchen@lexin.com

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