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A FINANCE of AMERICA -COMPANIES- AMERICA'S LEADING REVERSE MORTGAGE PLATFORM Q2 2026 Earnings Presentation UPDATED AUGUST 4 , 2026
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Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States of America (“U.S.”) Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the control of the Company. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook, ”“believes, ”“expects, ”“potential, ”“continues, ”“may, ” “will, ”“should, ”“could, ”“seeks, ”“projects, ”“predicts, ”“intends, ”“plans, ”“estimates, ”“budgets, ”“forecasts, ” “anticipates, ”or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties that could cause actual outcomes or results to differ materially from those indicated in these statements, including those risks referenced below. Given the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be achieved. The Company cautions readers not to place undue reliance upon any forward-looking statements, which are current only as of the date of this presentation. Results for any specified quarter are not necessarily indicative of the results that may be expected for the full year or any future period. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. All subsequent written and oral forward- looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. A number of important factors exist that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors indicated in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All of these factors are difficult to predict, contain uncertainties that may materially affect actual results, and may be beyond our control. New factors emerge from time to time, and it is not possible for our management to predict all such factors or to assess the effect of each such new factor on our business. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and any of these statements included herein may prove to be inaccurate. Please refer to “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 13, 2026, for further information on risk factors affecting us, as such factors may be amended and updated from time to time in the Company’s subsequent periodic filings with the SEC, which are or will be accessible on the SEC’s website at www.sec.gov. Non-GAAP Financial Measures The Company’s management evaluates performance of the Company through the use of certain financial measures that are not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), including adjusted net income (loss), adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”), adjusted earnings (loss) per share, tangible equity, and tangible equity per share. The presentation of non-GAAP measures is used to enhance investors’ understanding of certain aspects of our financial performance. This discussion is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP. Management believes these key financial measures provide an additional view of our performance over the long-term and provide useful information that we use in order to maintain and grow our business. These non-GAAP financial measures should not be considered as an alternative to net income (loss), operating cash flows, or any other performance measures determined in accordance with U.S. GAAP. Adjusted net income (loss), adjusted EBITDA, adjusted earnings (loss) per share, tangible equity, and tangible equity per share have important limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results as reported under U.S. GAAP. Some of the limitations of these metrics are: (i) cash expenditures for future contractual commitments; (ii) cash requirements for working capital needs; (iii) cash requirements for certain tax payments; and (iv) all non-cash income/expense items. Because of these limitations, adjusted net income (loss), adjusted EBITDA, adjusted earnings (loss) per share, tangible equity, and tangible equity per share should not be considered as measures of discretionary cash available to us to invest in the growth of our business or distribute to shareholders. We compensate for these limitations by relying primarily on our U.S. GAAP results and using our non-GAAP financial measures only as a supplement. Users of our condensed consolidated financial statements are cautioned not to place undue reliance on our non-GAAP financial measures. See the end of this presentation for reconciliations of applicable non-GAAP to GAAP financial measures, to the extent available without unreasonable efforts. 2
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• Chief Executive Officer since 2023 • 12+ years with FOA • 25+ years in mortgage lending, capital markets, and operations • President since 2023 _ • 14+ years with FOA • 20+ years in reverse mortgage leadership and operations • Chief Financial Officer since 2023 • 2+ years with FOA • 35+ years in financial services and capital markets Today’s Speakers Graham Fleming Kristen Sieffert Matt Engel 3
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Investment Highlights • #1 reverse mortgage platform with ~33% market share1 • Proprietary products expanding market and accelerating adoption • $14.9T home equity opportunity driven by aging demographics2 • Operational inflection driving revenue and earnings growth • Deleveraging strategy building capital and liquidity 4 Sources: (1) New View Advisors; (2) https://www.nrmlaonline.org/about/press-releases/17828
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Second Quarter and Year-To-Date 2026 Highlights FINANCIAL • 1H 2026 GAAP Net Income: $6M ($0.41/share) • 1H 2026 Adj Net Income: $45M ($1.94/share)1 • Book Value: $407M ($33.20/common share) • Tangible Equity: $246M ($13.31/share)1 RETIREMENT SOLUTIONS • 2Q Funded volume: $730M (+21% YoY) • 2Q Submission volume: $1,023M (+19% YoY) • 30% improvement QoQ in Funded Loans per LO CAPITAL & LIQUIDITY • Q2 2026: $58M in cash from originations and capital markets activities • YTD 2026: $116M in cash from originations and capital markets activities • On track to retire $150M of senior secured debt in November 2026 PORTFOLIO MANAGEMENT • Completed >$1B June securitization with strong demand • Closed acquisition of $5.2B Onity (formerly PHH) HECM servicing portfolio 5 (1) Non-GAAP financial measure; see reconciliation on slide 15 and 16.
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Large Addressable Market Driving Long-Term Growth Use Cases • Reduce monthly housing costs • Access liquidity without selling home • Fund retirement, healthcare, home improvements and legacy planning Market Tailwinds • Seniors growing twice as fast as overall population, with 11,400 turning 65 daily2 • Senior equity continues to grow with home price appreciation • Accessing home equity remains a major theme across the mortgage market Sources: (1) https://www.nrmlaonline.org/about/press-releases/17828; (2) www.census.gov/data/datasets/2023/demo/popproj/2023-popproj.html; (3) New View Advisors; Company Data 6 $14.9 Trillion Home equity held by seniors1 <$100 billion Total Reverse Mortgages outstanding3
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11,400 PEOPLE PER DAY FROM 2024 - 2026 TURN 65 IN U.S. 1 ($4.0T) ESTIMATED RETIREMENT SAVINGS SHORTFALL FOR SENIORS IN U.S. 2 3 in 5 ARE NOT ON TRACK TO MEET THEIR RETIREMENT SPENDING NEEDS 3 Retirement Gap. Retirees believe they need ~$825k to retire comfortably in 2026, but the average retiree’s savings are only around ~$290k with 29% reporting having no retirement savings. 4 Housing costs remain a major burden. Nearly a third of this cohort spends as much as 30% of their income on housing costs . 5 Rising healthcare expenses. Between 2022 and 2024, U.S. healthcare spending increased by 7 - 8% annually, driven by an increase in medical cost trends. 6 Source 1) www.census.gov/data/datasets/2023/demo/popproj/2023-popproj.html; 2) www.athene.com/news/annuities-news/2026/athene-2026-retirement-outlook-retirees-drive-demand-for-pension-like- income-amid-usd4-trillion-savings-gap.html; 3) corporate.vanguard.com/content/corporatesite/us/en/corp/articles/americas-retirement-outlook-getting-brighter.html; 4) www.newsweek.com/us-retirees-in- savings-crisis-11387976; 5) deepblue.lib.umich.edu/bitstream/handle/2027.42/172128/0268_NPHA-Aging-in-Place-report-FINAL.pdf; 6) publichealth.jhu.edu/2026/navigating-an-unaffordable-health- insurance-market Dave from Montecito, CA A Finance of America Customer HOME EQUITY IS A TOOL THAT ADDRESSES MORE THAN MERE SURVIVAL. IT CAN ALSO BE LEVERAGED TO HELP RETIREES. MAKE A GOOD RETIREMENT GREAT . Seniors Will Need Access to Their Housing Wealth 7
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561 602 603 619 596 730 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Funded Volume ($ millions) 768 858 887 882 918 1,023 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Submission Volume ($ millions) Operational Improvements Driving Higher Production • Submission volume exceeded $1B for first time since 2022, reflecting continued demand growth • Improved conversion drove 21% year-over-year funded volume growth • Retail productivity gains continue driving operating leverage 19% increase YoY 8 21% increase YoY
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955 1,268 Q1 2026 Q2 2026 1,662 1,972 Q1 2026 Q2 2026 11,992 13,023 Q1 2026 Q2 2026 Retail Demand, Conversion, & Productivity Continue to Improve ACCELERATING OPERATING LEVERAGE: MORE PRODUCTION FROM EXISTING DEMAND Total Submission Count Total Funded Loan Count Total Opportunity Count +9% INCREASE +19% INCREASE +33% INCREASE 9
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A More Valuable and Scalable Origination Platform One platform. Two complementar y channels. Multiple paths to profitable grow th. WHOLESALE Trusted partners and scalable distribution Reinforcing Channels BROADER BORROWER ACCESS + GREATER PLATFORM UTILIZATION + SHARED INFRASTRUCTURE = SCALABLE, PROFITABLE GROWTH RETAIL Direct relationships and customer insight Direct engagement with homeowners Greater visibility across the customer journey Marketing reach to ~20M consumers annually Faster feedback to improve products and conversion Established national broker network Broader geographic and borrower reach Scalable distribution of proprietary solutions Partner education, marketing and sales enablement SHARED PRODUCT AND OPERATING PLATFORM P R O P R I E T A R Y P R O D U C T S M A R K E T I N G T E C H N O L O G Y F U L F I L L M E N T S E R V I C I N G 10
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% Change ($ Millions, except per share metrics) 1 Q2 2026 Q2 2025 YTD 2026 YTD 2025 Q2 v Q2 YTD v YTD ADJUSTED NET INCOME Retirement Solutions 15 15 29 24 0% 21% Portfolio Management 18 16 46 37 13% 24% Corporate & Other (13) (17) (30) (34) 24% 12% ADJUSTED NET INCOME2 19 14 45 27 36% 67% ADJUSTED EARNINGS PER SHARE $0.84 $0.55 $1.94 $1.07 53% 81% NON-GAAP RECONCILIATION Pre-tax income (loss) (71) 82 (35) 164 -179% -117% Changes in fair value 84 (76) 69 (151) 203% 142% Amortization of intangible assets 9 9 19 19 - - Share-based compensation 3 3 7 5 - 40% Certain non-recurring costs 1 1 2 1 - 100% ADJUSTED NET INCOME BEFORE TAXES 26 19 62 37 37% 68% Provision for income taxes (7) (5) (16) (10) 40% 60% ADJUSTED NET INCOME2 19 14 45 27 36% 67% BOOK VALUE PER COMMON SHARE $33.20 $29.36 $33.20 $29.36 13% 13% TANGIBLE EQUITY VALUE PER SHARE2 $13.31 $11.33 $13.31 $11.33 17% 17% Financial Summary 11 (1) Numbers may not foot due to rounding. (2) Non-GAAP financial measure; see reconciliation on slide 15.
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Cash Generation Remains Strong 12 • Cash and cash equivalents decreased by only $22 million despite the all- cash acquisition of the Onity HECM servicing portfolio, totaling $65 million during the second quarter • Cashflows from Originations and Capital Markets Activities totaled $58 million and provided the majority of the funding to complete the acquisition of the Onity portfolio • Combined with our performance in Q1, Cashflows from Originations and Capital Markets Activities totaled $116 million for the first half of 2026 • On track to retire $150 million of senior secured debt in Nov 2026 $108 $86 Cash and cash equivalents - March 2026 Cash Flows from Originations and Capital Markets Activities Non-Funding Interest Expense Acquisition of PHH HMBS Portfolio Cash and cash equivalents - June 2026 $58 $15 $65
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2026 Full Year Outlook • Growing demand and improving productivity in Retirement Solutions • Portfolio Management expected to contribute stable yield on growing portfolio • Internal capital generation supports deleveraging strategy • Reaffirming full year guidance for 2026 Current Guidance Origination Volumes ($ bn) $2.8 - $3.1 Adjusted Earnings per Share $4.50 - $5.00 Adjusted Earnings per Share is a non-GAAP Metric. A reconciliation of our forward-looking adjusted earnings per share outlook to U.S. GAAP earnings per share cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusted items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, the company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future U.S. GAAP financial results. 13
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For more information, visit us online : IR.FinanceO fAmericaCompanies.com Or email us at: IR@FinanceOfAmerica.com Let’s Unlock America’s Greatest Retirement Asset
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($ Millions) 1 Q2 2026 Q2 2025 YTD 2026 YTD 2025 Adjusted Net Income Reconciliation Net income (loss) (29) 80 6 160 Add back: (Provision) benefit for income taxes 42 (2) 41 (4) Pre-tax income (loss) (71) 82 (35) 164 Changes in fair value2 84 (76) 69 (151) Amortization of intangible assets 9 9 19 19 Share-based compensation3 3 3 7 5 Certain non-recurring costs4 1 1 2 1 ADJUSTED NET INCOME BEFORE TAXES 26 19 62 37 Provision for income taxes5 (7) (5) (16) (10) ADJUSTED NET INCOME 19 14 45 27 Non-GAAP Reconciliation (1) Totals may not foot due to rounding. (2) Changes in fair value include changes in fair value of loans, retained bonds, and related obligations due to market inputs or model assumptions, deferred purchase price liabilities, and convertible notes, and amortization of the discount on senior notes resulting from the fair value measurement at issuance. (3) Includes all equity-based compensation. (4) Reflects certain non-recurring costs and adjustments that management believes should be excluded as these do not relate to a recurring part of the core business operations. These items include amounts recognized for settlement of legal and regulatory matters, acquisition or divestiture-related expenses, and other one-time charges. (5) Income tax provision adjustments to apply an effective combined federal and state corporate tax rate to adjusted net income before taxes. 15
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($ Millions except per share metrics) 1 Q2 2026 Q2 2025 YTD 2026 YTD 2025 GAAP Book Value Per Common Share Total Equity 407 473 407 473 Less: Preferred Stcok 50 — 50 — Less: Noncontrolling interest 60 148 60 148 Total Equity attributable to common stock 297 325 297 325 Class A Common Stock outstanding 8,936,570 11,076,638 8,936,570 11,076,638 BOOK VALUE PER COMMON SHARE $33.20 $29.36 $33.20 $29.36 Tangible Equity per Share Reconciliation Total Equity 407 473 407 473 Less: Intangible assets, net 161 198 161 198 TANGIBLE EQUITY 246 275 246 275 Class A Common Stock Outstanding 8,936,570 11,076,638 8,936,570 11,076,638 Class A LLC Units (if-converted to Class A Common Stock) 8,088,934 13,219,354 8,088,934 13,219,354 Preferred Stock (if-converted to Class A Common Stock) 1,428,571 — 1,428,571 — Adjusted Class A Common Stock Outstanding 18,454,075 24,295,992 18,454,075 24,295,992 TANGIBLE EQUITY PER SHARE $13.31 $11.33 $13.31 $11.33 Non-GAAP Reconciliation 16 (1) Totals may not foot due to rounding.