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Investor Presentation August 2026 Better Al Mortgage Platform Congrats , you're pre - approved for a loan up to $ 450,000 580 FICO You don't need perfect credit to qualify . Instant answers - anytime , anywhere with Betsy ™ Al . See your customized rate options in seconds . Company metrics and financials are as of June 30 , 2026 .
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Disclaimer This presentation and any related oral presentation, (together “this presentation”), do not constitute an offer or invitation to subscribe for, purchase or otherwise acquire any securities or other instruments of Better Home & FinanceHolding Company ("Better" or the "Company") and nothing contained herein, or its presentation shall form the basis of any offer, contract or commitment whatsoever. Forward-LookingStatements This presentation release contains certain forward-looking statements within the meaning of the Private Securities Litigation Re form Act of 1995. All statements in this presentation that are not historical fact should be considered forward -looking statements, including, without limitation, statements and expectations regarding the planned sale of the U.K. bank subsidiary, Birmingham Bank, cost reduction initiatives and financial results for the third quarter of 2026, including Adjusted EBITDA , Loan Volume and Total Net Revenue. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “estimate,” “potenti al,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual future events to differ materially from those expressed or implied by the forward -looking statements in this communication. These risks and uncertainties include: our ability to operate under and maintain or improve our business model; the effect of interest rates on our business, results of operations, and financial condition; our ability to expand our c ustomer base, grow market share in our existing markets and enter into new markets; our ability to respond to general economic condit ions, particularly elevated interest rates and lower home sales and refinancing activity; our ability to restore our growth and our expectations regarding the development and long -term expansion of our business; our ability to comply with laws and regulations related to the operation of our business, including any changes to such laws and regulations; our ability to achieve and maintain profitability in the future; our ability and requirements to raise additional financing in the future; our estimates regarding expenses, future revenue, capital and additional financing requirements; our ability to maintain, expand and be succe ssful in our strategic relationships with third parties; our ability implement and maintain an effective system of internal controls o ver financial reporting; our ability to develop new products, features and functionality that meet market needs and achieve marke t acceptance; our ability to retain, identify and hire individuals for the roles we seek to fill and staff our operations appro priately; our ability to recruit and retain additional directors, members of senior management and other team members, including our ability in general; our ability to maintain, protect, assert and enhance our intellectual property rights; volatility in the market price of our Class A common stock, including volatility due to potential short squeezes; high degrees of public and socia l media coverage by third parties; future sales of substantial amounts of our Class A common stock, or the perception that such sales may occur; effect of the development, proliferation and use of artificial intelligence on our business; the impact of geopolitica l developments, including the ongoing military conflict and related instability in the Middle East; and the impact of our leade rship transition. More information on these risks and other important factors that could affect the Company’s business, reputati on, results of operations, financial condition, and stock price are discussed in the section entitled “Risk Factors” in the Compa ny’s Annual Report on Form 10-K for the year ended December 31, 2025 ("Form 10 -K"), as any such factors may be updated from time to time in the Company’s other filings with the SEC, which is available, free of charge, at the SEC’s website at www.sec.gov. New risks and uncertainties arise from time to time, and it is impossible for Better to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward -looking statements, which speak only as of the date made. Better unde rtakes no obligation, except as required by law, to update or revise the forward -looking statements, whether as a result of new information, changes in expectations, future events or otherwise. Discussion of certain of such factors can be found in the most recent annual report on Form10 -Q and other subsequent filings made from time to time which areavailable, free of charge,at the SEC’swebsite at www.sec.gov. New risks and uncertainties arise from time to time, and it is impossible for Better to predict these events or how they may affect us. Youare cautioned not to place undue reliance upon any forward -looking statements, which speak only as of the date made, and Better undertakes no obligation, except as required by law, to update or revise the forward -looking statements, whether as a result of new information, changes in expectations, future events or otherwise. Use of Non-GAAP Measuresand Other Financial Metrics This presentation includes certain financial measures not presented in accordancewith generally accepted accounting principles (“GAAP”), including Adjusted EBITDA and Adjusted EBITDA Margin . We calculate Adjusted EBITDA as net income (loss) adjusted for the impact of stock-based compensation expense, change in the fair value of warrants, and other non-recurring or non-core operational expenses, as well as interest and amortization on non-funding debt (which includes interest on the Convertible Note (as defined in our Form 10-K)), depreciation and amortization expense, and income tax expense. We calculate Adjusted EBTIDA Margin asAdjusted EBITDA divided by total net revenues. These non-GAAP financialmeasures should not be considered in isolation and are not intended to be a substitute for any GAAP financial measures. These non-GAAP measures provide supplemental information that we believe helps investors better understand our business, our business model and how we analyze our performance. We also believe these non-GAAP financial measures improve investors’and analysts’ ability to compare our results with those of our competitors and other similarly situated companies, which commonly disclose similar performance measures. However, our calculation of Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similarly titled performance measures presented by other companies. Further, although we use these non-GAAP measures to assess the financial performance of our business, these measures exclude certain substantial costs related to our business, and investors are cautioned not to use such measures as a substitute for financial results prepared according to GAAP. Non-GAAP financial measures have limitations in theirusefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. As a result, non- GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, our financial results prepared and presented in accordance with GAAP. For a reconciliation of non-GAAP measures used in this presentation to the closest comparable GAAP measures, see the “Reconciliation of Non-GAAP Measures” section of thispresentation. A reconciliation of Adjusted EBITDA to Net Loss on a forward-looking basis cannot be provided without unreasonable efforts, as the Company is unable to provide reconciling information with respect tobenefit for income taxes, stock-based compensation,and changes in fair value of warrant and equityliabilities, all of which are adjustments to Adjusted EBITDA. Key Metrics In this presentation, we refer to the following key metrics: Funded Loan Volume represents the aggregate dollar amount of allloans funded in a givenperiod based on the principal amount of the loan at funding. Loan Volume consists of Funded Loan Volume and Processed Volume. Processed Volume includes loans processed on the Tinman platform on behalf of our strategic partners but not funded by Better. Purchase Loan Volume represents the aggregate dollar amount of purchase loans funded in a givenperiod based on the principal amount of the loan at purchase date. Refinance Loan Volume represents the aggregate dollar amount of refinance loans funded in a givenperiod based on the principal amount of the loan at refinancing date. HELOC Loan Volume represents the aggregate dollar amount of HELOC and closed-end second lien loans funded in a givenperiod based on the principal amount of the loan at funding. D2C Loan Volume represents the aggregate dollar amount of loans funded in a givenperiod based on the principal amount of the loan at funding that have been generated from direct interactions with customers using all marketing channels other than our partner relationshipsand our Tinman AI Platform channel. Platform Loan Volume represents the aggregate dollar amount of loans funded in a givenperiod based on the principal amount of the loan at funding that have been generated through one of our Tinman® AI Platform partner relationships. Total Loans represents the total number of purchase loans, refinance loans, HELOCs, and closed-end second-lien loans completed during a given period, including loans funded by Better and loans processed on theTinman® AI Platformon behalf of our strategic partners but not funded by Better. Use of Data The data contained herein is derived from various internal and external sources we believe to be reliable. No representation is made as to the reasonableness of the assumptions within or the accuracy or completeness of any projections or modeling or anyother information contained herein. Accordingly, any liability in respect of the information contained herein or in respect of this presentation (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. Any data on past performance or modeling contained herein is not an indication as to future performance, and the Company disclaims any obligation, except as required by law, toupdate or revise the information in this presentation, whether as a result ofnew information, future events or otherwise.
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Q2 2026 Highlights & Key Developments
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Q2 2026 results 4 Q2'26 Loan Volume $1,667M $1,205M $1,667M Q2'25 Q2'26 ▲ 38% +$462M Q2'26 Platform Loan Volume $912M $428M $912M Q2'25 Q2'26 ▲ 113% +$484M Q2'26 Total Net Revenues $54.7M $42.7M $54.7M Q2'25 Q2'26 ▲ 28% +$12.0M Change vs. Q2’25 Change vs. Q2’25 Change vs. Q2’25 Note: Following the reclassification of our UK-based bank to discontinued operations, prior-period results have been recast on acomparable basis. Amounts shown therefore differ from those previously reported. Q2'26 Adjusted EBITDA ($14.0M) ($22.9M) ($14.0M) Q2'25 Q2'26 39% improvement +$8.9M Change vs. Q2’25 Includes a $6.5 million benefit from a TRID reserve release
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The 2026 rate environment remains elevated… Freddie Mac Primary Mortgage Market Survey 5 5.98% Low 6.66% High / Latest 6.11% Q1 Average 6.41% Q2 Average 5.90% 6.00% 6.10% 6.20% 6.30% 6.40% 6.50% 6.60% 6.70% Jan Feb Mar Apr May Jun Jul Source: Freddie Mac Primary Mortgage Market Survey.
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6 …driving down mortgage applications from beginning-of-year highs MBA Mortgage Applications Market Composite Index Source: MBA Weekly Applications Survey. Note: Index base March 16, 1990 = 100. 397.2 High 239.9 Low / Latest 340.2 Q1 Average 278.8 Q2 Average 220 240 260 280 300 320 340 360 380 400 Jan Feb Mar Apr May Jun Jul
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… so we responded by shifting production to Purchase and Home Equity, driving 15% QoQ revenue growth on flat volume 7 Q1 2026A Loan Volume 36% 52% 12% Purchase Refi Home Equity Q2 2026A Loan Volume 49%33% 18% Purchase Refi Home Equity $1,645M Loan Volume / $47.5M Revenue / ($18.8M) Adj. EBITDA $1,667M Loan Volume / $54.7M Revenue / ($14.0M) Adj. EBITDA
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Q2 cost initiatives in place to save $25M 8 Fixed cost base Reduced spend across corporate functions, facilities, and discretionary items Operational efficiency Automation and process redesign to reduced cost per loan Vendor rationalization Renegotiated and consolidated third-party contracts across the vendor base Actions already underway are expected to add ~$20M of annualized savings, bringing the total to $45M
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Operational focus Three priorities for our next phase of execution, underpinned by simplified operations Distribution Product Tinman® Partner-led distribution across consumer platforms, wholesale brokers and NEO. Winning on manufacturing efficiency, not acquisition spend. Aggressive HELOC investment with differentiated underwriting and loan officer experience. Expanding from direct-to-consumer to enterprise. AI-native platform from lead to fund. Proprietary manufacturing system driving lower costs and faster closings. 9
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Financials & KPIs
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54% 31% 46% 69% Q2'25 Q2'26 71% 42%29% 58% Q2'25 Q2'26 95% 92% 5% 8% Q2'25 Q2'26 64% 45% 36% 55% Q2'25 Q2'26 11 Total Loan Volume Home Equity Volume 23% Purchase Loan Volume Refi Loan Volume 239% 38% Q2 2026 Loan Volume performance by product $1,667M $803M $824M $162M $549M $240M $294M D2C Loan Volume Platform Loan Volume $1,205M
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12 29% 36% 40% 44% 50% 55% 71% 64% 60% 56% 50% 45% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Platform D2C Tinman® AI Platform is now our primary origination channel at 55% of Loan Volume, up 36% year over year % of Loan Volume by Channel
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Q3 2026 Guidance: ▪ $1,375M to $1,525M of Loan Volume, midpoint of $1,450M ▪ $49.0M to $52.0M of Total Net Revenues, midpoint of $50.5M ▪ ($18.0M) to ($15.0M) of Adjusted EBITDA, midpoint of ($16.5M) 13 Looking ahead to Q3 2026 $1,205M $1,210M $1,461M $1,645M $1,667M $1,375M - $1,525M Q2'25A Q3'25A Q4'25A Q1'26A Q2'26A Q3'26E Loan Volume $42.7M $41.5M $41.7M $47.5M $54.7M $49.0M - $52.0M Q2'25A Q3'25A Q4'25A Q1'26A Q2'26A Q3'26E Total Net Revenues Note: Following the reclassification of our UK-based bank to discontinued operations, prior-period results have been recast on acomparable basis. Amounts shown therefore differ from those previously reported. ($22.9M) ($22.9M) ($22.4M) ($18.8M) ($14.0M) ($18.0M) – ($15.0M) Q2'25A Q3'25A Q4'25A Q1'26A Q2'26A Q3'26E Adjusted EBITDA ~22% YoY growth to midpoint ~20% YoY growth to midpoint ~28% YoY improvement to midpoint
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▪ Cash & cash equivalents balance of $102M and Restricted cash of $10M ▪ QoQ shifts across Short- term investments, Loans held for investment, and others reflect UK-based bank reclassification as discontinued operations ▪ Total warehouse capacity of $850M Balance sheet ($ in thousands) Quarter Ended June 30, Quarter Ended June 30, Assets 2026 2025 Cash and cash equivalents 102,250 87,134 Restricted cash 9,633 10,645 Short-term investments — 134,390 Mortgage loans held for sale, at fair value 511,080 447,738 Loans held for investment, net — 420,566 Other receivables, net 18,233 30,936 Assets held for sale 5,052 9,071 Assets of discontinued operations 825,380 — Property and equipment, net 1,747 1,923 Right-of-use assets 4,664 4,818 Internal use software and other intangible assets, net 17,464 21,273 Goodwill 10,995 24,765 Derivative assets, at fair value 3,558 5,248 Prepaid expenses and other assets 32,238 33,354 Total Assets 1,542,294 1,231,861 Liabilities Warehouse lines of credit 454,334 371,189 Senior notes 198,802 200,409 Customer deposits — 482,360 Liabilities held for sale 5,052 6,932 Liabilities of discontinued operations 762,111 — Accounts payable and accrued expenses 50,112 63,782 Escrow payable and other customer accounts 806 376 Derivative liabilities, at fair value 220 2,402 Warrant and equity related liabilities 2,172 1,751 Lease liabilities 4,579 6,032 Other liabilities 6,209 20,071 Total Liabilities 1,484,397 1,155,304 Stockholders' Equity/(Deficit) Common stock 2 2 Notes receivable from stockholders — (9,160) Additional paid-in capital 2,232,960 2,077,303 Accumulated deficit (2,177,142) (1,997,193) AOCI 2,077 5,605 Total Stockholders' Equity/(Deficit) 57,897 76,557 Total Liabilities and SE 1,542,294 1,231,861 14
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15 Reconciliation of Non -GAAP Measures (Amounts in $ thousands) Quarter Ended June 30, Quarter Ended September 30, Quarter Ended December 31, Quarter Ended March 31, Quarter Ended June 30, 2025 2025 2025 2026 2026 Net loss ($36,270) (39,125) (39,920) (70,311) (30,593) Income tax (benefit) / expense 94 145 141 (1,566) 63 Depreciation and amortization expense 3,287 3,132 3,059 2,997 2,973 Stock-based compensation expense 4,252 4,271 7,876 23,795 14,585 Interest and amortization on non-funding debt 6 - 3 - 14 Restructuring, impairment, and other expenses 1,206 817 (2,399) (857) 909 Change in fair value of warrants and equity related liabilities 572 5,578 (5,853) 6,202 (1,067) Loss from discontinued operations 3,906 2,236 14,717 20,961 (872) Adjusted EBITDA (22,947) (22,946) (22,376) (18,779) (13,988) Net Loss Margin (85.0%) (94.2%) (95.7%) (148.0%) (55.9%) Total Net Revenues 42,685 41,549 41,701 47,497 54,702 Adjusted EBITDA Margin (53.8%) (55.2%) (53.7%) (39.5%) (25.6%) Note: Following the reclassification of our UK-based bank to discontinued operations, prior-period results have been recast on acomparable basis. Amounts shown therefore differ from those previously reported.
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Appendix
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17 Software | Fulfillment | Capital Markets | Compliance | Sales Tinman® AI Platform Tinman® AI Opportunity in the Mortgage Industry Tinman is purpose-built AI that fundamentally reshapes mortgage economics Ultimately, this enables a faster, cheaper, and better mortgage experience for homeowners and platform clients Over $110B in originations and years of investment in our AI platform, Tinman® and Betsy Redefining how mortgages are originated, processed, and delivered at scale Direct-to-Consumer
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Better offers a broad suite of home financing solutions to a qualified customer base 18 Our Average Customer Profile Note: Age and FICO score as of June 2026, average loan balance for Q2 2026. Purchase 49% of Q2’26 Loan Volume Anchors our franchise in the largest segment of the U.S. mortgage market Refinance 33% of Q2’26 Loan Volume Helps homeowners capture monthly savings the moment their rate is “in-the-money” Home Equity 18% of Q2’26 Loan Volume Enables homeowners to access cash without giving up their lower first lien rate $291k Average loan balance 46 Age 735 FICO score
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19 Powered by Tinman®, our proprietary & comprehensive AI mortgage platform Customer Experience Operational Excellence ▪ Tinman® AI drives better, faster , and cheaper customer experience ▪ Customer can interact digitally with Tinman® to manage entire process ▪ Higher approval rate and lower interest rate for consumers ▪ Dynamically surface pricing options flexibly adjusted by customer ▪ Obtain/refinance loan, insurance, or real estate agent as convenient ▪ Tinman® AI triangulates consumer attributes, property attributes, and unique investor criteria ▪ Powers rapid review of loan files ▪ Over $110B of originated volume ▪ Default rate is one-third of the industry average ▪ “Taskify”, the loan production process, by reducing high-cost labor into machine-driven tasks ▪ Consistent and singular format data Compliance System Tinman® Point of Sale Closing System QC System Document & Disclosures Engine Loan Origination System Eligibility Engine Pricing Engine CRM One-Day Mortgage
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Light balance sheet and low-risk funding model, attracting new mortgage investors 20 Assetsmatchedto identified fundingat origination,aligningto the criteria ofinstitutionalinvestors Strongandgrowinginstitutional investoracceptance Streamlined,tech-enabled access tomultiplemarkets Assetsacquiredby Better’s network of third-partyinvestors + Betsy $850M Funding Capacity ~40 Mortgage Investors Mortgage Real Estate Investment TrustsBanksGovernment - Sponsored Enterprises Asset Managers Originator & Servicers ~26 Days Loans held on balance sheet1 10+ Bids Per average loan Note: Metrics As of June 30, 2026. 1) Average time a loan is held on Better’s balance sheet for Q2 2026 for non -cash advance funded loan volume