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Q2 2026 Quarterly Supplement Rithm Capital Quarterly Supplement Q2 2026 Will/EH reviewed Will reviewed Not reviewed
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Q2 2026 Quarterly Supplement Disclaimers 2 IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” FORWARD-LOOKING STATEMENTS. Certain statements regarding Rithm Capital Corp. (together with its subsidiaries, “Rithm,” “Rithm Capital,” the “Company” or “we”) in this Presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation and in no particular order, statements (i) regarding the ability of the Company to: create attractive, risk-adjusted returns from the Elecor Properties (“Elecor”) portfolio and improve fundamentals across the portfolio; grow AUM and fee-related earnings; achieve the strategic rationales underlying the acquisition of Elecor; continue our long term strategy to build a global, diversified asset management platform; execute on its partnerships with Valon and HomeVision; provide investable assets and proprietary insights across the Rithm teams; close on current fundraising activities focused on ABF, direct lending, capital solutions, multi-strategy, stabilized core-plus real estate, and real estate credit; effectuate new product offerings, including insurance solutions, infrastructure, and private wealth; continue to grow Newrez’s share in the mortgage market; effectuate Newrez’s revenue growth and expense reduction initiatives; remain nimble through market volatility and as opportunities arise; flexibly deploy capital across its strategies; grow Elecor’s portfolio and earnings; leverage Rithm’s integrated ecosystem to efficiently source, finance and manage assets; continue to innovate mortgage and capital markets products; deliver scalable investments across asset classes and return profiles; offer tailored offerings, products and investment structures; create and maximize strong risk-adjusted returns for shareholders and fund investors; experience any projected realization of investments; succeed in the current market environment and varying interest rate and economic environments; collaborate and connect across operating companies and implement operational efficiencies; opportunistically and efficiently identify and invest in attractive investment opportunities, including through acquisitions; grow our book value and earnings; continue to grow our recapture platform; maintain significant, long-term value and strong performance; achieve and execute on Newrez’s growth strategies; strengthen the Company’s existing platform; create stable, high quality cash flows; execute on the Company’s growth strategy; effectively use artificial intelligence (“AI”) to accelerate efficiency in customer experience and operations, including in servicing and origination services and through cross-platform intelligent workflows; continue to grow Genesis Capital LLC’s (“Genesis”) loan and high-quality sponsor portfolio and maintain robust credit standards; control or mitigate asset- and sponsor-level risk; maintain robust sourcing engines through Newrez and Genesis; maximize collateral performance and drive down acquisition costs in the Investment Portfolio; execute the Company’s overall MSR strategy; manage risks, including cyber security risks; expand and diversify into other asset classes and investment verticals, drive assets into funds, develop new products, and continue to grow a comprehensive alternative asset management business; achieve potential valuations; and maintain past performance levels; (ii) about the current market and the future market, including: future interest rates, spreads, market volatility and other market conditions; macro outlooks; commercial real estate and other return-to-office trends; whether market trends will support the Company’s strategy, including management’s overall view of market trends, including, but not limited to commercial real estate markets; expectations regarding current and future economic environments, including macroeconomic themes; and the Company’s positioning in the current market and the future market; (iii) containing estimated yields; forecasted results; illustrative valuations; and estimates or projections; (iv) about the Company’s investment pipeline and investment opportunities; (v) including the use of forward-looking terminology, such as “may,” “will,” “plan,” “should,” “potential,” “intend,” “expect,” “endeavor,” “forecast,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue” or other similar words or expressions or (vi) are based upon management’s current views, plans or estimates. These statements are not historical facts. They represent management’s current expectations regarding future events and are subject to a number of trends and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and factors include, but are not limited to, risks relating to (i) changes in general economic and/or industry specific conditions; (ii) changes in the banking sector; (iii) changes in interest rates and/or credit spreads; (iv) the regulatory requirements of Rithm’s subsidiaries as investment advisers; (v) changes in financing terms; and (vi) unanticipated difficulties in diversifying beyond residential real estate and management of third-party capital. Forward-looking statements contained herein speak only as of the date of this Presentation, and the Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. New risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements contained herein. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Cautionary Statement Regarding Forward Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s annual and quarterly reports filed with the SEC, which are av ailable on the Company’s website (www.rithmcap.com). Information on, or accessible through, our website is not a part of, and is not incorporated into, this Presentation. PAST PERFORMANCE. Past performance is not a reliable indicator of future results and should not be relied upon for any reason. NO OFFER; NO RELIANCE. This Presentation is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and may not be relied upon in connection with the purchase or sale of any security. Any reference to potential financing does not constitute, nor should it be construed as, an offer to purchase or sell any security. There can be no assurance if or when the Company or any of its affiliates will offer any security or the terms of any such offering. Any such offer would only be made by means of formal documents, the terms of which would govern in all respects. You should not rely on this Presentation as the basis upon which to make any investment decision. NON-GAAP FINANCIAL MEASURES. This Presentation includes non-GAAP financial measures, such as Earnings Available for Distribution. See "Appendix" in this Pres entation for information regarding this non-GAAP financial measure, including a definition, purpose and reconciliation to GAAP net income (loss), the most directly comparable GAAP financial measure. CAUTIONARY NOTE REGARDING ESTIMATED/TARGETED RETURNS AND YIELDS. Targeted returns and yields reflect a variety of estimates and assumptions that could prove to be incorrect, such as an investment’s coupon, amortization of premium or discount, costs and fees, and our assumptions regarding prepayments, defaults and loan losses, among other things. Income and cash flows recognized by the Company in future periods may be significantly less than the income and cash flows that would have been recognized had expected returns been realized. As a result, an investment’s lifetime return may differ materially from an IRR (net or gross) to date. In addition, the Company’s calculation of IRR may differ from a calculation by another market participant, as there is no standard method for calculating IRRs. Statements about estimated and targeted returns and targeted yields in this Presentation are forward-looking statements. You should carefully read the cautionary statement above under the caption “Forward-looking Statements,” which directly applies to our discussion of estimated and targeted returns and targeted yields.
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Q2 2026 Quarterly Supplement Rithm Capital Overview 3 Leading global asset manager with a proven track record of creating and scaling complementary businesses Executive Summary See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Endnotes to Slide 3: Source: Rithm filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Represents the sum of the investable assets, including investments in operating companies, across the Rithm platform, including ( i) $54 billion of Total Assets on Rithm’s Balance Sheet, less $5 billion in consolidated fund assets, and (ii) $61 billion of AUM. 2) Represents “Stockholders’ Equity in Rithm Capital Corp.” on balance sheet. 3) Represents “Total Assets” on balance sheet. 4) Source: Inside Mortgage Finance reports: Top Primary Mortgage Servicers 1Q26 and Top Mortgage Lenders 3M26. 5) Newrez LTM Q2’26 originations: $66.6 billion 6) Based on Genesis internal estimates and market data. 7) Genesis LTM Q2’26 originations: $6.1 billion 8) Core assets are defined as properties which, at the time of Rithm’s acquisition of Elecor, carried allocated equity value. The assets consist of 1633 Broadway, 1301 Avenue of the Americas, 1325 Avenue of the Americas, 31 West 52nd Street, 900 Third Avenue, 712 Fifth Avenue, 1600 Broadway, One Market Plaza, One Front Street, and 300 Mission Street. 9) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum of: ( i) the net asset value of managed accounts and open-ended funds or gross asset value of direct lending, real estate and real estate funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management fees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a consistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable. 10) Sculptor and Crestline were founded in 1994 and 1997, respectively. • A premier alternative investment manager providing access to a wide array of asset-based finance (“ABF”), corporate credit, real estate, and multi-strategy investment offerings • Consists of Sculptor, Crestline, and Rithm Capital- managed funds • ~30 years of performance across our asset management platform(10) • Rithm invests its own capital alongside our partners • Newrez is a top-five US mortgage servicer and lender(4), servicing $865 billion and originating $65+ billion of mortgage loans annually(5), collectively serving over 4 million homeowners • Genesis is the #2 US residential transitional lender(6), originating over $6 billion annually(7) and serving more than 700 sponsors • Elecor Properties is a premier owner, operator, and manager of 10 core Class A office properties across NYC and San Francisco, totaling 9.9 million square feet(8) Growing Alternative Asset Manager (“AAM”)Expanding Asset-Generating Businesses $100B+ Investable Assets(1) ~$9B Permanent Capital(2) Rithm Balance Sheet(3) Rithm Asset Management AUM(9)$54B $61B Will/EH reviewed
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Q2 2026 Quarterly Supplement Quarter in Review – Financial Highlights 4 • Strong quarterly results: Q2’26 Earnings Available for Distribution (“EAD”) of $0.60 per share(1)(2) • 27 consecutive quarters for which EAD was greater than common dividends paid • Cumulative $6.7 billion of dividends paid to shareholders since inception Executive Summary See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. GAAP Net Income $20.2M $0.04 per Diluted Share(2) Book Value $6.9 Billion $12.33 per Common Share(3) Cash and Liquidity(5) $2.1 Billion Common Stock Dividend 10.6% Dividend Yield(4) $o.25 per Common Share Earnings Available for Distribution(1) $338.9M $0.60 per Diluted Share(2) Endnotes to Slide 4: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Earnings Available for Distribution and Earnings Available for Distribution per Diluted Share are non-GAAP measures. See “Reconciliation” in the Appendix to this Presentation for a reconciliation to the most comparable GAAP measures. 2) Per diluted share calculations for both GAAP Net Income and Earnings Available for Distribution are based on 568,262,330 weighted average diluted common shares for the quarter ended June 30, 2026. 3) Book value per share is based on common shares outstanding of 558,407,031 as of June 30, 2026. 4) Dividend yield is based on Rithm common stock closing price of $9.39 on June 30, 2026, the last trading day of the second quarter, and annualized dividend based on a $0.25 per common share quarterly dividend. 5) Cash and liquidity is a non-GAAP measure representing cash and cash equivalents and available undrawn financing, excluding cash held at certain consolidated investment vehicles and Elecor's property level partnerships, which is not available for general corporate use. Will/EH reviewed
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Q2 2026 Quarterly Supplement Executive Summary Rithm Asset Management Commercial Real Estate Genesis (Residential Transitional Lending) Newrez (Origination & Servicing) Investment Portfolio
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Q2 2026 Quarterly Supplement Rithm’s Asset Management Platform Rithm Asset Management today consists of scalable investment solutions across asset classes and return profiles Asset Management 6See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. ASSET-BASED FINANCE ✓ Residential Credit ✓ Residential Transitional Lending ✓ Consumer Loans ✓ Specialty Finance ✓ Synthetic Risk Transfer ✓ Structured Products MULTI-STRATEGY ✓ Multi-Strategy Hedge Fund ✓ Convertible Arbitrage ✓ Merger Arbitrage ✓ Fundamental Equities REAL ESTATE ✓ Core-Plus / Opportunistic Investments ✓ Special Situations & Rescue Capital ✓ Co-GP Development ✓ Opportunistic Credit ✓ Platform Investments CORPORATE CREDIT ✓ Direct Lending ✓ Collateralized Loan Obligations ✓ Liquid Credit ✓ Opportunistic Credit ✓ NAV Lending ~200 Institutional Investors 16 Global Offices 210 Investment Professionals $61B AUM (1) Endnotes to Slide 6: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum of: (i) the net asset value of managed accounts and open-ended funds or gross asset value of direct lending, real estate and real estate funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management fees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a consistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable. Will/EH reviewed
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Q2 2026 Quarterly Supplement Asset Management Business Highlights Powerful combination of investment solutions across strategies and geographies Asset Management 7See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Endnotes to Slide 7: Source: Bloomberg, Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) The return information represents, where applicable, the composite performance of all feeder funds that comprise the fund presented. Gross return information is generally calculated using the total return of all feeder funds, net of all fees and expenses except management fees of such feeder funds and incentive income allocated to the general partner of the funds, and the returns of each feeder fund include the reinvestment of all dividends and other income. Net return information is generally calculated as the gross returns less management fees and incentive income allocated to the general partner of the funds. Return information that includes investments in certain funds that Sculptor, as investment manager, determines lack a readily ascertainable fair value, are illiquid or should be held until the resolution of a special event or circumstance ("Special Investments") excludes incentive income allocated to the general partner of the funds on unrealized gains attributable to such investments, which could reduce returns on these investments at the time of realization. Special Investments and initial public offering investments are not allocated to all investors in the funds, and investors that were not allocated Special Investments and initial public offering investments may experience materially different returns. The performance calculation excludes realized and unrealized gains and losses attributable to currency hedging specific to certain investors investing in Sculptor Master Fund in currencies other than the U.S. Dollar. Volatility is a statistical measure that measures the fluctuation of the monthly rates of return against the average return. 2) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum of: (i) the net asset value of managed accounts and open-ended funds or gross asset value of direct lending, real estate and real estate funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management fees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a consistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable. SCALE Scaled asset management platform with $61 billion in AUM(2) • Experienced teams and track records across strategies with significant capacity to expand • Market leading strategies span asset-based finance, corporate credit, real estate, and multi-strategy PERFORMANCE Performance-driven organization that puts investors first and delivers on investment mandates • Sculptor Multi-Strategy Fund net returns: 7.9% YTD, 12.3% 3-year annualized, and 4.7% Volatility(1) • Conservative risk and liquidity positioning are core tenets of the platform DEPLOYMENT Target most compelling investment opportunities • Market volatility plays to the platform’s strengths, while prudent risk management limits downside • Remain nimble allowing capital to be deployed tactically as opportunities arise FUNDRAISING Strong fundraising momentum remains across the platform • AUM expansion continues across the platform driven by $1.9 billion of gross inflows and fund commitments in Q2’26 • Current fundraising activities focused on ABF, direct lending, capital solutions, multi-strategy, stabilized core-plus real estate, and real estate credit • New product offerings in development include insurance solutions, infrastructure, and private wealth Will/EH reviewed
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Q2 2026 Quarterly Supplement AUM: Strong Organic and Inorganic Growth 8 Asset Management See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Endnotes to Slide 5: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum of: (i) the net asset value of managed accounts and open-ended funds or gross asset value of direct lending, real estate and real estate funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management fees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a consistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable. 2) "Long Term AUM“ is defined as AUM from investors that are subject to initial commitment periods of three years or longer. Investors with longer-duration AUM may have less than three years remaining in their commitment period. This excludes AUM that had initial commitment periods of three years or longer and subsequently moved to shorter commitment periods at the end of their initial commitment period. 3) The December 31, 2025 AUM presented herein has been adjusted by $(3) billion from the amount previously reported to reflect the reclassification of certain AUM to Rithm’s managed balance sheet and the inclusion of AUM associated with certain hedging strategies. $33 $34 $60 $61 2023 2024 2025 Q2'26 Assets Under Management(1) Commentary 28% CAGR Rithm Acquires Crestline in Q4’25: $20B AUM(1)(3) • AUM has nearly doubled and is up by $28 billion ITD since Rithm accelerated the growth of its asset management business by acquiring Sculptor in 2023 • $10 billion of organic growth across the platform since 2023 • The acquisition of Crestline in Q4’25 added $18 billion of AUM in complementary credit strategies to the existing business • Momentum is building across the platform with AUM up to $61 billion and gross inflows of nearly $2 billion in the second quarter • 71% of AUM is Long Term(2) Rapidly expanding Asset Management platform with a focus on best in class managers and strategies ($B) (3) Will/EH reviewed
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Q2 2026 Quarterly Supplement Executive Summary Rithm Asset Management Commercial Real Estate Genesis (Residential Transitional Lending) Newrez (Origination & Servicing) Investment Portfolio
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Q2 2026 Quarterly Supplement Rithm Commercial Real Estate 10 Rithm has a scaled and differentiated real estate platform with debt and equity expertise and robust asset management capabilities Commercial RE See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Endnotes to Slide 10: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Reflects Rithm’s share of GP investment along with an affiliate and third-party capital. The investment is held on balance sheet and returns shown are on the Rithm’s GP interest only and includes Rithm’s share of promote. 2) NAV Rescue Loan repayment and transfer of funds occurred on 7/2/2026. 3) Expected realizations are based on Rithm’s current projections and market conditions, which may change and affect actual realizations. In -House Operating Expertise Seasoned team across Rithm and Elecor Opportunistic Across the Capital Stack Flexible deployment across the capital stack to deliver strong, risk-adjusted returns Premier Office Portfolio 9.9 million square feet of Class A office in NYC and San Francisco Strong Investment Results Strong performance supported by disciplined underwriting Rithm's Platform is Built to Generate Strong, Repeatable Returns Across Market Cycles Vertically integrated debt and equity platform sources opportunities in dislocated markets • Defaulted Mixed-Use Loan, New Jersey: ‒ 131.0% IRR, 1.8x multiple • NAV Rescue Loan(2): ‒ 30.1% IRR, 1.5x multiple Q2’26 Investment Realizations(1) • Distressed Office Acquisition, Virginia / DC: ‒ Acquired at a discount to intrinsic value; strong projected return profile with meaningful multiple upside • Senior Subordinate Office Loan, New York City: ‒ Attractive current income with downside protection through subordination – expected returns in line with underwriting Q3’26 Projected Investment Realizations(3) Rithm’s valued-add strategy is repeatable by Elecor at scale: Favorable Location + Strong Entry Point + Elecor Hands-On Asset Management = Best In Class Performance and Outsized Returns Will/EH reviewed
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Q2 2026 Quarterly Supplement Elecor Investment Thesis Elecor's Class A portfolio is positioned to capture New York City’s and San Francisco’s office recovery, driven by tightening supply and accelerated tenant demand (1) CBRE Q2 Office Update (2) CBRE Q2 Office Update 11 Commercial RE Attractive Entry Point • Substantial discount to replacement cost of new Class-A office construction • Velocity in Class-A office transactions validates Rithm’s investment thesis • Low-cost basis allows for future capital investment to further enhance asset value Limited New Supply(1) • Supply / Demand dynamics favor existing Class-A assets • Further reduction of existing supply due to select office-to-residential conversion • Currently no new-office construction in San Francisco Flight to Quality(2) • Tenants and institutional capital continue to pursue best in class office product • Midtown’s core districts drove leasing activity for the market in Q2’26, accounting for 70% of the total leasing volume in NYC • Class A office properties in San Francisco market accounted for 77% of Q2’26 leasing activity • Drives results for in-place portfolio and identifies new growth opportunities • Boots on the ground in two of the strongest gateway markets that gives us real time access to data • Hands-on management that benefits the asset, JV partners, and the tenants Strong Operating Team See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Will/EH reviewed
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Q2 2026 Quarterly Supplement Elecor Properties Highlights 12 Elecor Properties continues to excel at its business plan, identifying operational improvements and strengthening its leading property portfolio 8.3 years Average Lease Term for Office Leases(6) 9.9M Square Feet of Office Space $90/sq ft Annualized Average Rent(5) 86.5% Leased Occupancy(4) Key Metrics (Core Assets)(3) Commercial RE See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Excellence in Leasing Operational Excellence Opportunistic Recapitalization Capital Improvement StrategyFinancing Execution Endnotes to Slide [12]: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Represents leases signed and leases pending year-to- date through July 27, 2026. 2) Represents weighted average annualized rent per square foot of leases signed and leases pending year-to-date through July 27, 2026, compared to the leasing activity for the 12-months ended December 31, 2025. 3) Core assets are defined as properties which, at the time of Rithm’s acquisition of Elecor, carried allocated equity value. The assets consist of 1633 Broadway, 1301 Avenue of the Americas, 1325 Avenue of the Americas, 31 West 52nd Street, 900 Third Avenue, 712 Fifth Avenue, 1600 Broadway, One Market Plaza, One Front Street, and 300 Mission Street 4) Represents our share of percentage of square feet that is leased, including signed leases not yet commenced. 5) Represents our share of the end of period monthly base rent plus escalations in accordance with the lease terms, multiplied by 12. 6) Represents average lease term of our share of assets. NYC average lease term for office leases is 8.7 years; San Francisco is 5.7 years. • Robust YTD leasing activity of 681K sq ft, 62% of which is in San Francisco(1) • Relative to FY25, rents from leasing activity YTD are 32% higher in New York City and 1% higher in San Francisco(2) • Identified and executed operating efficiencies totaling over $44 million within Elecor’s management platform since acquisition • Assessing JV and financing opportunities for select, high-quality assets • Advanced major amenity programs with premier partners across key assets, including: ‒ 1633 Broadway ‒ 712 Fifth Avenue ‒ One Market Plaza ‒ One Front Street • Closed on $283 million CMBS financing at 1325 Avenue of the Americas • Post quarter-end, closed on the $515 million financing of 31 West 52nd Street, with continuing focus on select refinancings Will/EH reviewed
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Q2 2026 Quarterly Supplement Leases Signed & Pending FY’25 YTD(3) Lease Count 43 20 Square Feet 1.3M 256K Elecor Properties Leasing Highlights (Core Assets)(1) 13 Commercial RE See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. New York CitySan Francisco 91.6% Leased Occupancy(2) Leases Signed & Pending FY’25 YTD(3) Lease Count 16 12 Square Feet 411K 425K 64.9% Leased Occupancy(2) • 2.5M sq ft • 90% Owned 0.8M sq ft 100% Owned 0.5M sq ft 50% Owned 0.6M sq ft 55% Owned 26K sq ft 9% Owned 1600 Broadway712 Fifth Avenue900 Third Avenue31 West 52nd St 1633 Broadway 0.8M sq ft 100% Owned 1325 Ave of the Americas 1.8M sq ft 100% Owned 1301 Ave of the Americas 1.6M sq ft 49% Owned 0.7M sq ft 31% Owned 0.6M sq ft 75% Owned One Market One Front St 300 Mission St Relative to FY25, rents from leasing activity YTD are 32% higher in New York City(4) Endnotes to Slide [13]: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Core assets are defined as properties which, at the time of Rithm’s acquisition of Elecor, carried allocated equity value. The assets consist of 1633 Broadway, 1301 Avenue of the Americas, 1325 Avenue of the Americas, 31 West 52nd Street, 900 Third Avenue, 712 Fifth Avenue, 1600 Broadway, One Market Plaza, One Front Street, and 300 Mission Street 2) Represents our share of percentage of square feet that is leased, including signed leases not yet commenced. 3) Represents leases signed and leases pending year-to- date through July 27, 2026. 4) Represents weighted average annualized rent per square foot of leases signed and leases pending year-to-date through July 27, 2026, compared to the leasing activity for the 12-months ended December 31, 2025 Leased occupancy up 6% QoQ Will/EH reviewed
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Q2 2026 Quarterly Supplement Executive Summary Rithm Asset Management Commercial Real Estate Genesis (Residential Transitional Lending) Newrez (Origination & Servicing) Investment Portfolio
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Q2 2026 Quarterly Supplement Genesis Capital Business Overview 15 Market-leading originator of single and multifamily transition loans to institutional sponsors Q2’26 Key Metrics Business Highlights Genesis See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Endnotes to Slide 15: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Q2’26 annualized operating ROE is a non-GAAP measure calculated based on annualized pre-tax operating income of $41.6 million, excluding MTM and other non-operating items of $(4.6) million, divided by the average of current and prior period Residential Transitional Lending segment ending total stockholders' equity of $975.8 million. Financial Results • Record Breaking Origination: quarterly volume of $1.9 billion in Q2’26 and $3.5 billion in H1’26 • Sponsor Focused Expansion: record 125 new sponsors funded in Q2’26; 89% of customers are repeat borrowers • Fast, Disciplined Growth: Genesis remains focused on growing within its core markets, while high-touch model focuses on mitigating sponsor and asset-level risk ($M) Q2’25 Q1’26 Q2’26 Net Interest and Other Income $50.8 $59.0 $67.6 G&A Expenses ($20.2) ($26.0) ($26.0) Pre-Tax Income ex-MTM $30.6 $33.0 $41.6 MTM and other non-operating items ($5.5) ($9.9) ($4.6) Total Pre-Tax Income $25.1 $23.1 $37.0 17% Annualized Operating ROE(1) $41.6M | +26% QoQ Pre-Tax Income ex-MTM $1.9B Origination Volume Strategic Advantage Supports Investment Demand In Rithm-Managed Accounts ✓ Growing origination volumes provide consistent sourcing pipeline for asset management business Differentiated Business Model ✓ Focused on long-term relationships with high-quality sponsors with a track record of success Multi-Faceted Underwriting Approach ✓ In-house expertise assessing borrower credit profile, construction capability, and asset valuation WR Reviewed
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Q2 2026 Quarterly Supplement Genesis Capital Portfolio Overview(1) 16 National lender providing capital solutions for the entire development lifecycle across asset classes Key Portfolio Metrics Genesis See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Endnotes to Slide 15: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Portfolio Overview is represented as a percentage of Outstanding Commitments as of June 30, 2026. Outstanding Commitments represents the total face amount outstanding that Genesis has agreed to lend under the terms of its lending agreements inclusive of third-party serviced loans originated by Genesis. Outstanding Commitments differs materially from reported Total Commitments, which represents the full amount that Genesis commits to lend at the time it originates the loan. Summary by Loan Type 54% 34% 12% Construction Bridge Renovation Summary by Structure Summary by Asset Type 40% 38% 22% Single Family Multifamily Other 55% 45% ARM Fixed 63% Loan-to-After Repair Value 68% Loan-to-Value 76% Loan-to-Cost Will/EH reviewed
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Q2 2026 Quarterly Supplement $1.0 $1.2 $1.5 $1.5 $1.0 $2.1 $2.4 $2.1 $3.7 $4.8 $6.2 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Genesis’s Growth Has Outpaced the Broader RTL Market 17 Sustained growth driven by a differentiated lending platform designed to meet the needs of institutional sponsors nationwide Genesis See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Growing Total Addressable Market(1) Genesis Total Originations ($B) 26% 28% 32% 31% 31% 34% 31% 36% 41% 40% 41% $300 $323 $371 $405 $420 $641 $693 $427 $432 $529 $587 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Non-Bank Bank • Genesis represented 0.9% of the RTL market in FY25 • Significant white space to grow as its value-add lending drives sponsor expansion across markets 7% CAGR 20% CAGR Rithm Acquires Genesis Capital • Genesis’s growth has outpaced that of the broader RTL market • Growth accelerated after Rithm’s acquisition in 2021 ($B) $3.5 H1’26 Est. H2’26 Endnotes to Slide 16: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Industry data is as of June 30, 2026. 2026E represents an annualized run rate calculated using results through mid- May 2026. Will/EH reviewed
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Q2 2026 Quarterly Supplement Executive Summary Rithm Asset Management Commercial Real Estate Genesis (Residential Transitional Lending) Newrez (Origination & Servicing) Investment Portfolio
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Q2 2026 Quarterly Supplement Newrez Platform Delivered 22% Annualized Operating ROE in Q2(1) Strong performance across all business lines ($M) Q1’26 Q2’26 Servicing $203.6 $254.6 Originations $116.9 $105.0 Corporate ($46.8) ($52.0) Pre-Tax Income ex-MTM $273.7 $307.6 MTM: MSR, net of hedge and other non-operating items ($23.1) ($194.5) Total Pre-Tax Income $250.6 $113.1 Newrez Financial Results(2) Newrez See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. 19 Endnotes to Slide x: Source: Company SEC filings and current financial information. Financial and market data as June 30, 2026, unless otherwise noted. 1) Q2’26 annualized operating ROE and full year operating ROE are non- GAAP measures. Q2’26 annualized operating ROE is calculated based on annualized pre-tax operating income of $307.6 million, excluding the net of hedge MSRs MTM and other non- operating items of $(194.5) million, divided by the average of current and prior period Origination and Servicing segment ending total stockholders' equity of $5.7 billion. 2) Numbers may not sum due to rounding. 3) Beginning in Q4’25, hedge carry is reported as part of the Servicing segment PTI. Full Year ROEs are updated to reflect this adjustment. 4) Source: Inside Mortgage Finance, Top Primary Mortgage Servicers 1Q26 5) Source: Inside Mortgage Finance, Top Mortgage Lenders 3M26. Market Positioning Q2’26 Key Metrics $865B Servicing UPB $308M | +12% QoQ Pre-Tax Income ex-MTM $15.9B Originations Volume 16% 18% 20% 19% 22% 2023 2024 2025 Q1'26 Q2'26 Platform Driving Strong Operating ROE(1)(3) #3 US MORTGAGE SERVICER (4) #5 US MORTGAGE LENDER (5) • #3 US Mortgage Servicer and #5 US Mortgage Lender(4)(5) • Continued growth of high-quality servicing portfolio, up net $15B QoQ • $28B subservicing UPB boarded in Q2’26 and 8 new clients added in H1 • Homeowner-centric platform delivered refinance recapture gains of +480 bps versus FY25 • Significant non-agency production momentum, +24% QoQ and +62% YoY • Cost-per-loan continues to outperform industry, driven by operating leverage from technology and cross-platform investments • Market-leading special servicer with loan workout ratio outperforming industry average of 62% WR Reviewed
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Q2 2026 Quarterly Supplement Re-Envisioning Mortgage With an End-to-End Intelligence Engine Significant technology investments bringing efficiency, growth, and leverage 20 Endnotes to Slide x: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Transition to ValonOS is in process with first transfers scheduled for Q1'27, subject to certain requirements. 2) Median refinance approval time through streamlined digital application experience. 3) First-call resolution rate measure as of Q2’26 4) Inquiries resolved by AI chatbot with no need for human transfer. Containment rate measure as of Q2’26. 5) Newrez app by Newrez LLC. (Version 4.11.1). As of July 2026. App Store. https://apps.apple.com/us/app/newrez/id 1435999022 Newrez RE-ENVISIONING MORTGAGE TANGIBLE OUTCOMES AI -ENHANCED, DATA -RICH ENGINE INTELLIGENCE Data 360 10B+ data attributes and real-time insights across transactions properties, customers, and agents ORIGINATIONS AI Underwriting Automated underwriting with HomeVision powers fulfillment capacity and velocity SERVICING Agentic Servicing End-to-end agentic workflow orchestration and task management with ValonOS(1) ENTERPRISE ReziAI Chatbot | 24/7 voice agent | Loan officer copilot | Customer GPT | Resolutions >95% First-call resolution rate(3) 88% AI chatbot containment rate(4) 4.8★ App Store rating(5) Speed Convenience Self ServiceCustomer Service Satisfaction ~5 min Streamlined refi approval(2) 24/7 Always-on support via AI voice agents and chatbot Will/EH reviewed
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Q2 2026 Quarterly Supplement Technology and AI Investments Powering Performance Results-first approach to platform investments 21 Operating Advantage Growth through product strategy and deepening customer and client relationships New Products | Customer Retention | Client Growth Unlocking operating leverage to transform mortgage originations and servicing Agentic Servicing | Automated Underwriting | AI-Native Fulfillment Non-Agency Production 36% 38% 41% 43% 2024 2025 Q1'26 Q2'26 Maximizing customer lifetime value Refinance Recapture Rate High-margin and high- quality asset manufacturing Endnotes to Slide x: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Represents (i) new loan amounts for all customers originated through DTC or Retail/JV channels divided by (ii) all paid- in-full loans identified from internal records or public records as refinancings. 2) Source: MBA Q4 2025 Quarterly Mortgage Bankers Performance Report, reflecting FY25 fulfillment personnel expenses per loan, weighted average across all channels ex-correspondent. 3) Total Direct Servicing CPL reflects servicing operations and relevant corporate costs. Industry figures source: MBA Chart of the Week, Components of Direct Servicing Operating Costs, June 26, 2026. 4) Forecast Cost-per-Loan figures reflect estimated CPL following full implementation of HomeVision underwriting technology and full transition to Valon OS platform. See disclaimers at the start of this presentation. Newrez $1,428 $886 $787 Direct Originations Fulfillment CPL $185 $118 $93 Total Direct Servicing CPL (2) (3) $2.1B $5.1B $6.4B 2024 2025 H1'26 ann.H1’26 Annualized Cost-per-loan continues to outperform industry(1) (2)(3) 2025 Industry 2025 Newrez Newrez Forecast (4) Revenue Expansion Will/EH reviewed
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Q2 2026 Quarterly Supplement Disciplined Strategy Driving Originations Performance Funded Volume by Channel Gain on Sale Margins ($B UPB) Newrez Continued focus on non-agency growth and product innovation Originations HeavyweightOriginations Business Highlights See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. 22 $16.3 $16.4 $18.8 $15.5 $15.9 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Consumer Direct Wholesale Correspondent Endnotes to Slide x: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Represents (i) new loan amounts for all customers originated through DTC or Retail/JV channels divided by (ii) all paid- in-full loans identified from internal records or public records as refinancings. 2) Represents (i) new loan amounts for all customers originated through DTC or Retail/JV channels, plus closed end seconds balances divided by (ii) all paid- in-full loans identified from internal records or public records as refinancings, plus first lien UPBs of retained closed end seconds customers plus closed end seconds balances. 3) Consumer Direct refers to aggregate of DTC and Retail channels. 4) Source: Inside Mortgage Finance, Top Mortgage Lenders 3M26. 5) Includes wholesale broker partners, correspondent clients, and JV partners. • Growth in direct origination (Wholesale and Consumer Direct) channels comprising 40% of total volume, up 11% QoQ • Margin discipline through optimized pricing strategy across channels despite margin pressures • Platform delivered refinance recapture rate of 43%, second lien- adjusted rate of 52%(1)(2) • Personal loan launch expanding consumer finance offering and deepening customer lifetime value • HomeVision automated underwriting capabilities live for Q3’26 production (3) 1.22% 1.14% 1.50% 1.44% 1.64% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 #5 US Mortgage Lender(4) 40% Q2’26 Direct Originations Mix $5B Coissue MSRs 45%+ QoQ, YoY ~6K Partners & Clients(5) Will/EH reviewed
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Q2 2026 Quarterly Supplement High-quality owned MSR portfolio performance and continued growth of third-party franchise Servicing Powerhouse(2) ($B UPB) Newrez Cost-per-Loan: Serviced by Newrez Servicing Business Highlights See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. 23 Servicing Platform Powered by Advanced Technology • Portfolio growth with 162K+ homeowners and $27B UPB third-party servicing boarded in Q2’26, 8 new subservicing clients added in H1 • Expanded subservicing offering with Recapture-as-a-Service for third-party clients, marquee clients already in pipeline • Platform investments and workflow automation continue to drive down costs • Ability to self-service workouts with no need for human intervention • Owned MSR portfolio continues to perform well, GNMA delinquencies down QoQ with EBO activity normalizing $213 $151 $145 $140 $138 $223 $233 $232 $258 $262 2022 2023 2024 2025 H1'26 Newrez Industry Average (1) Endnotes to Slide x: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Source: MBA Research Showcase 2026. Industry CPL figure imputed to reflect delinquency levels aligned to Newrez portfolio (4.4% 60+). H1’26 industry figure assumes 2025 cost per loan average. 2) “Owned MSRs: Newrez” includes all owned MSRs serviced by Newrez. “Third-Party Servicing” includes all MSRs serviced by Newrez on behalf of third parties, including subservicing, special servicing, and whole loans. “Owned MSRs: SBO” includes all owned MSRs serviced by others (“SBO”). 3) Source: Inside Mortgage Finance, Top Primary Mortgage Servicers 1Q26 4) Reflects client retention since 2015. $536 $541 $541 $543 $568 $271 $282 $256 $257 $268 $57 $56 $54 $51 $29 $864 $878 $852 $850 $865 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Owned MSRs: Newrez Third-Party Servicing Owned MSRs: SBO #3 US Mortgage Servicer(3) 155+ Third-Party Servicing Clients 4M+ Homeowners 98% Client retention rate(4) Will/EH reviewed
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Q2 2026 Quarterly Supplement Market-Leading Special Servicing Franchise(1) 24 Delivering superior outcomes for homeowners and clients across market cycles • Service all product types from non-QM to construction, commercial, and multi-collateral loans • Resilient, reliable performance across market conditions • GSE special servicing partner of choice • Custom technology solutions, real-time transparency, accuracy Newrez #2 Non-Agency MBS Servicer(1) 101K H1’26 Loan Modifications 51% “Instant Approval” of Workouts Growing Market Need for Special Servicing Workouts Consistently Outperforming Industry Current % of Completed Loan Workouts (2020 Onward) Key Highlights Market Level Delinquencies: 90+ DQ(3) See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. Endnotes to Slide 26: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Source: Inside Mortgage Finance Top Non-Agency Servicers report as of 1Q26. 2) Reflects client retention since 2015. 3) Source: NY Fed Q1’26 Report on Household Debt And Credit. 4) Loan workout ratios reflect Current % of Completed Loan Workouts (2020 or After). Industry figure based on Mortgage Bankers Association Monthly Loan Monitoring Survey. 74% 65% 61% 62% 82% 79% 75% 77% 2023 2024 2025 H1'26 Industry Newrez 0.44% 1.09% Platform Advantage Proprietary Technology Operational Excellence Performance Recognition Foundational expertise in special servicing business Powering loss mitigation, self- service, and portfolio analytics Outcomes and service deliver 98% client retention rate(2) Clients include leading banks, institutional investors, and GSEs Special Servicing Differentiation (4) Will/EH reviewed
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Q2 2026 Quarterly Supplement Executive Summary Rithm Asset Management Commercial Real Estate Genesis (Residential Transitional Lending) Newrez (Origination & Servicing) Investment Portfolio
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Q2 2026 Quarterly Supplement 30% 12% 12% 11% 6% 5% 24% Whole Loans SFR RMBS Consumer Excess MSRs SRTs Other Investments Investment Portfolio Composition Investment Portfolio Business Highlights 26 Key source of strategic differentiation, diversification, and earnings power ($M) Business Highlights $1.6B Total Portfolio Equity Securitizations by Sector Investment Portfolio Endnotes to Slide 25: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) H1’26 annualized operating ROE is a non-GAAP measure calculated based on annualized pre-tax operating income of $118.1 million, MSRs MTM and other non-operating items of $(67.1) million, divided by the average of current and prior period Investment Portfolio total stockholders' equity of $1,662.4 million. See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. $6.6B H1’26 Residential Asset Investments 15% H1’26 Annualized Operating ROE(1) $3.7B UPB of H1’26 Securitizations Key Metrics • Securitized and issued three Non-QM deals totaling $1.4 billion and purchased $1.7 billion of Non-QM whole loans in Q2’26 ‒ Projected to more than double Non-QM securitization volume in FY26, relative to FY25 • Record RTL origination volume of $1.9 billion in Q2’26 and $3.5 billion in H1’26 • Purchased $303 million of home improvement loans (“HIL”) in Q2’26 and completed inaugural $316 million HIL securitization $200 $670 $982 $1,907 $2,016 $1,968 $3,721 H1'23 H2'23 H1'24 H2'24 H1'25 H2'25 H1'26 RPL MSR Non-QM RTL HIL +85% YoY WR Reviewed ($M) H1’26 Net Interest and Other Income G&A Expenses Pre-Tax Income ex-MTM MTM and other non-operating items Total Pre-Tax Income
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Q2 2026 Quarterly Supplement Appendix
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Q2 2026 Quarterly Supplement Condensed Consolidated Balance Sheets 28 Appendix (dollars in thousands, except per share data) June 30, 2026 (Unaudited) March 31, 2026 (Unaudited) ASSETS Mortgage servicing rights and mortgage servicing rights financing receivables, at fair value $ 11,091,483 $ 10,859,933 Government and government-backed securities ($4,887,937 and $5,041,769 at fair value, respectively) 4,912,869 5,066,754 Residential mortgage loans ($4,241,244 and $5,083,003 at fair value, respectively) 4,293,492 5,137,741 Consumer loans, held-for-investment, at fair value 707,111 805,294 Residential transition loans, at fair value 3,832,312 3,197,813 Residential mortgage loans subject to repurchase 4,308,886 4,427,618 Real estate, net 6,139,789 6,174,559 Insurance company investments, at fair value 1,119,524 1,021,920 Cash, cash equivalents and restricted cash 2,454,708 2,368,374 Servicer advances receivable 2,751,593 2,865,556 Other assets ($3,037,780 and $3,018,569 at fair value, respectively) 5,584,432 5,714,249 Assets of consolidated entities 6,912,669 5,734,733 Total Assets $ 54,108,868 $ 53,374,544 LIABILITIES Secured financing agreements $ 13,677,512 $ 13,923,496 Secured notes and bonds payable ($126,140 and $134,319 at fair value, respectively) 14,363,446 14,827,171 Residential mortgage loan repurchase liability 4,308,886 4,427,618 Unsecured notes, net of issuance costs 1,902,627 1,424,635 Interest sensitive insurance contract liabilities 1,143,797 1,069,355 Dividends payable 185,032 179,104 Accrued expenses and other liabilities ($631,854 and $610,185 at fair value, respectively) 3,104,711 3,085,378 Liabilities of consolidated entities 5,974,137 4,932,492 Total Liabilities $ 44,660,148 $ 43,869,249 REDEEMABLE NON-CONTROLLING INTERESTS OF CONSOLIDATED SUBSIDIARIES Redeemable non-controlling interests of consolidated subsidiaries 397,306 361,138 Total Redeemable Non-controlling Interests of Consolidated Subsidiaries $ 397,306 $ 361,138 STOCKHOLDERS’ EQUITY Preferred stock 1,632,915 1,632,915 Non-controlling interests in equity of consolidated subsidiaries 534,552 534,080 Book Value $ 6,883,947 $ 6,977,162 Per Share $ 12.33 $ 12.51
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Q2 2026 Quarterly Supplement Book Value per Share Summary 29 Book value per share based on common shares outstanding (558,407,031). Numbers may not add due to rounding. Appendix Per Share Ending Q1’26 Book Value Per Share $12.51 Net (Loss) Income (Net of Tax and Change in Fair Value) 0.33 MSR Realization of Cash Flows (0.38) Change in Valuation Inputs and Assumptions 0.09 GAAP Net Income 0.04 Common Dividend (0.25) Other Comprehensive Income 0.00 Other (primarily increased shares & stock compensation) 0.03 Ending Q2’26 Book Value Per Share $12.33 QoQ % Change (1.4)% TP Signed off 7/25/2026
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Q2 2026 Quarterly Supplement Consolidated Statements of Operations 30 Appendix Three Months Ended Unaudited (dollars in thousands) June 30, 2026 March 31, 2026 Revenues Servicing fee revenue, net and interest income from MSRs and MSR financing receivables $ 614,637 $ 579,288 Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(213,874) and $(211,456), respectively) (392,875) (204,229) Servicing revenue, net 221,762 375,059 Interest income 474,595 461,877 Gain on originated residential mortgage loans, held-for-sale, net 207,006 208,250 Asset management revenue 142,228 106,587 Commercial real estate revenue 182,130 178,257 Other residential-related revenue 54,560 54,680 1,282,281 1,384,710 Expenses Interest expense and warehouse line fees 464,114 450,063 General, administrative and operating 307,349 316,601 Compensation and benefits 410,477 378,410 Depreciation and amortization 93,547 92,644 1,275,487 1,237,718 Other Income (Loss) Realized and unrealized gains (losses), net 56,305 (15,154) Other income, net 23,787 22,402 80,092 7,248 Income Before Income Taxes $ 86,886 $ 154,240 Income tax expense 18,973 44,762 Net Income $ 67,913 $ 109,478 Non-controlling interests in income (loss) of consolidated subsidiaries 8,032 (146) Redeemable non-controlling interests in income of consolidated subsidiaries 3,590 6,946 Net Income Attributable to Rithm Capital Corp. $ 56,291 $ 102,678 Dividends on preferred stock 36,098 34,847 Net Income Attributable to Common Stockholders $ 20,193 $ 67,831
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Q2 2026 Quarterly Supplement Segment Information (Q2’26) 31 Appendix ($ in thousands) Quarter Ended June 30, 2026 Origination and Servicing Residential Transitional Lending Asset Management Investment Portfolio Commercial Real Estate Corporate Category Total Servicing fee revenue, net and interest income from MSRs and MSR financing receivables $ 614,637 $ — $ — $ — $ — $ — $ 614,637 Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(213,874)) (392,875) — — — — — (392,875) Servicing revenue, net 221,762 — — — — — 221,762 Interest income 252,496 103,587 28,208 85,428 2,185 2,691 474,595 Gain on originated residential mortgage loans, held- for-sale, net 204,731 — — 2,275 — — 207,006 Management fees — — 88,789 — 1,696 — 90,485 Incentive fees — — 51,743 — — — 51,743 Asset management revenue — — 140,532 — 1,696 — 142,228 Commercial real estate revenue — — — — 182,130 — 182,130 Other residential-related revenue 25,222 — — 29,338 — — 54,560 Total Revenue 704,211 103,587 168,740 117,041 186,011 2,691 1,282,281 Interest expense and warehouse line fees 225,634 43,742 23,231 70,007 61,836 39,664 464,114 Other segment expenses 146,211 5,469 33,082 31,711 78,640 12,236 307,349 Compensation and benefits 214,708 22,740 130,211 6,688 11,474 24,656 410,477 Depreciation and amortization 5,474 1,966 12,040 7,184 66,803 80 93,547 Total Operating Expenses 592,027 73,917 198,564 115,590 218,753 76,636 1,275,487 Realized and unrealized gains, net 57 7,031 26,448 22,751 18 — 56,305 Other income (loss), net 879 314 17,404 7,295 (2,114) 9 23,787 Total Other Income (Loss) 936 7,345 43,852 30,046 (2,096) 9 80,092 Income (Loss) before Income Taxes $ 113,120 $ 37,015 $ 14,028 $ 31,497 $ (34,838) $ (73,936) $ 86,886 Total Assets $ 26,890,344 $ 5,060,530 $ 4,371,258 $ 11,531,136 $ 5,883,187 $ 372,413 $ 54,108,868 Stockholders' Equity in Rithm Capital Corp. $ 5,492,541 $ 1,017,409 $ 1,319,373 $ 1,582,256 $ 1,218,777 $ (2,113,494) $ 8,516,862
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Q2 2026 Quarterly Supplement Segment Information (Q1’26) 32 ($ in thousands) Appendix Quarter Ended March 31, 2026 Origination and Servicing Residential Transitional Lending Asset Management Investment Portfolio Commercial Real Estate Corporate Category Total Servicing fee revenue, net and interest income from MSRs and MSR financing receivables $ 579,288 $ — $ — $ — $ — $ — $ 579,288 Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(211,456)) (204,229) — — — — — (204,229) Servicing revenue, net 375,059 — — — — — 375,059 Interest income 234,877 87,659 38,897 95,967 1,832 2,645 461,877 Gain on originated residential mortgage loans, held- for-sale, net 194,972 — — 13,278 — — 208,250 Management fees — — 89,160 — 1,769 — 90,929 Incentive fees — — 15,658 — — — 15,658 Asset management revenue — — 104,818 — 1,769 — 106,587 Commercial real estate revenue — — — — 178,257 — 178,257 Other residential-related revenue 23,333 — — 31,347 — — 54,680 Total Revenue 828,241 87,659 143,715 140,592 181,858 2,645 1,384,710 Interest expense and warehouse line fees 215,797 35,659 25,574 76,555 58,462 38,016 450,063 Other segment expenses 151,269 6,537 30,410 25,109 84,000 19,276 316,601 Compensation and benefits 207,074 20,822 113,016 5,115 11,282 21,101 378,410 Depreciation and amortization 6,088 1,943 11,526 8,482 64,605 — 92,644 Total Operating Expenses 580,228 64,961 180,526 115,261 218,349 78,393 1,237,718 Realized and unrealized losses, net — (606) (1,394) (13,034) (120) — (15,154) Other income, net 2,614 1,055 9,476 7,219 2,036 2 22,402 Total Other Income (Loss) 2,614 449 8,082 (5,815) 1,916 2 7,248 Income (Loss) before Income Taxes $ 250,627 $ 23,147 $ (28,729) $ 19,516 $ (34,575) $ (75,746) $ 154,240 Total Assets $ 28,311,493 $ 4,505,746 $ 4,504,047 $ 9,905,297 $ 5,902,572 $ 245,389 $ 53,374,544 Stockholders' Equity in Rithm Capital Corp. $ 5,797,840 $ 934,217 $ 1,282,840 $ 1,564,567 $ 1,249,074 $ (2,218,461) $ 8,610,077
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Q2 2026 Quarterly Supplement Mortgage Servicing Rights 33 ($ in thousands) Q1’26 Ending MSR Balance $ 10,859,933 Originations & other 392,654 Change in fair value due to: Realization of cash flows (215,295) Change in valuation inputs and assumptions 54,191 Q2’26 Ending MSR Balance $ 11,091,483 Q2 2026 - Servicing Servicing fee revenue $ 563,771 Ancillary and other fees 50,866 Servicing revenue and fees 614,637 Change in fair value due to: Realization of cash flows (215,295) Realization of cash flows – MSR financing liability 1,421 Change in valuation inputs and assumptions 54,191 Change in valuation inputs and assumptions – MSR financing liability (5,963) Gains (losses) on MSR economic hedges (227,229) Net Servicing Revenue Total $ 221,762 Appendix
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Q2 2026 Quarterly Supplement Origination and Servicing 34 1) Appendix disclosure in keeping with prior reporting, elsewhere Non-Agency includes Non-QM, Jumbo, CES, and HELOCs 2) Includes impact from ancillary services. Includes MSR revenue on recaptured loan volume reported in the servicing segment Appendix Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Servicing Servicing Portfolio (UPB $B) In-House Servicing $536.3 $540.6 $541.4 $542.5 $568.0 On Behalf of Third-Parties $260.7 $269.2 $242.8 $242.6 $253.7 Serviced by Others $56.5 $55.5 $54.1 $51.1 $28.8 Whole Loan & Other $10.7 $12.3 $13.4 $14.2 $14.7 Total UPB $864.2 $877.5 $851.7 $850.4 $865.2 Origination Funded Volume by Channel (UPB $B) Consumer Direct $2.4 $2.4 $3.7 $3.2 $3.2 Wholesale $2.6 $2.8 $3.7 $2.6 $3.1 Correspondent $11.3 $11.2 $11.5 $9.7 $9.5 Total Funded Volume $16.3 $16.4 $18.8 $15.5 $15.9 Funded Volume by Product (UPB $B) Agency $6.9 $6.9 $8.0 $8.2 $7.8 Government $8.2 $8.0 $9.0 $5.8 $6.3 Non-Agency(1) $0.1 $0.1 $0.1 $0.1 $0.1 Non-QM $0.7 $1.0 $1.5 $1.1 $1.3 Other $0.3 $0.3 $0.3 $0.2 $0.4 Purchase Refinance Funded Volume (UPB $B) Purchase $11.9 $12.3 $10.8 $7.9 $10.1 Refinance $4.4 $4.1 $8.0 $7.5 $5.8 Pull-Through Adjusted Lock Volume (UPB $B) Consumer Direct $2.3 $3.1 $3.3 $3.3 $3.1 Total Pull-Through Adjusted Lock Volume $16.7 $17.7 $17.3 $16.9 $14.5 GOS Revenue Margin(2) Consumer Direct 4.72% 2.85% 4.14% 4.39% 4.70% Wholesale 1.22% 1.19% 1.53% 1.20% 1.11% Correspondent 0.43% 0.53% 0.58% 0.44% 0.50% Total(2) 1.22% 1.14% 1.50% 1.44% 1.64%
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Q2 2026 Quarterly Supplement Owned MSR Portfolio 35 Q2’26 Owned MSR Portfolio Detail 176 176 175 184 187 5.1x 5.0x 5.0x 5.2x 5.3x Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Full MSR Price (bps) Full MSR Multiple Full MSR Price & Multiples Full MSR Portfolio Speeds & Amortization $178 $190 $234 $213 $215 7.7% 7.8% 10.2% 10.0% 9.6% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Total Full MSR Amortization Portfolio Average CPR See “Disclaimers” at the beginning of this Presentation and detailed endnotes in the Appendix. ($M) Appendix 60+ DQ Agency GNMA PLS Total UPB ($B) $375 $154 $68 $597 WAC 4.4% 4.5% 4.6% 4.5% WALA (months) 72 49 211 82 Current LTV 61% 85% 54% 66% Current FICO 753 684 680 729 60+ DQ 0.8% 5.8% 12.4% 3.4% Advance Balances ($B) $0.5 $0.6 $1.2 $2.3 0.8% 0.8% 0.8% 0.8% 0.8% 4.4% 4.7% 6.0% 6.0% 5.8% 12.5% 12.4% 12.6% 12.5% 12.4% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Agency GNMA PLS
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Q2 2026 Quarterly Supplement Unaudited GAAP Reconciliation of Earnings Available for Distribution 36 Management uses Earnings Available for Distribution, which is a Non-GAAP measure, as one measure of operating performance. Please see next slide for the definition of Earnings Available for Distribution and explanation of adjustments. Board received 7/25/2026($000s, except per share data) Q2 2026 Q1 2026 Reconciliation of earnings available for distribution Net income attributable to common stockholders - GAAP $ 20,193 $ 67,831 Adjustments: Realized and unrealized losses, net, including MSR change in valuation inputs and assumptions 181,110 71,844 Other loss, net 14,206 15,633 Depreciation and amortization 87,913 87,280 Non-capitalized transaction-related expenses 21,870 8,330 Deferred taxes 13,636 38,718 Earnings available for distribution – Non-GAAP $ 338,928 $ 289,636 Net income per diluted share $ 0.04 $ 0.12 Earnings available for distribution per diluted share $ 0.60 $ 0.51 Weighted average number of shares of common stock outstanding, diluted 568,262,330 565,927,074
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Q2 2026 Quarterly Supplement Reconciliation of Non-GAAP Financial Measures 37 The Company has four primary variables that impact its performance: ( i) net interest margin on assets held within the investment portfolio; (ii) realized and unrealized gains or losses on assets held within the investment portfolio and operating companies, including any impairment or reserve f or expected credit losses; (iii) income from the Company’s operating company investments; and (iv) the Company’s operating expenses and taxes. “Earnings available for distribution” is a non-GAAP financial measure of the Company’s operating performance, which is used by m anagement to evaluate the Company’s performance, excluding: • Certain realized and unrealized gains and losses on (i) investments other than those that are acquired with the intent to sell or loans that are originated or acquired with the intent to sell, (ii) changes in valuation inputs and assumptions of MSRs, (iii) MSR economic hedges, other than any interest income associated with such instruments and (iv) extinguishment of debt; • Certain other income and losses, primarily consisting of equity -based or non-recurring compensation expense, straight-line rental revenue, amortization of debt acquired below or above market prices, and certain net income or losses attributable to non -controlling and redeemable non-controlling interests; • Depreciation and amortization on real estate investment properties and intangible assets; • Non-capitalized transaction-related expenses, primarily consisting of legal, valuation and other professional service fees incur red in connection with certain investment acquisitions, as well as costs associated with the acquisition and integration of acquired businesses; and • Deferred taxes In computing earnings available for distribution, the Company excludes the items listed above because management does not con sider them representative of the Company's core operating performance or of cash available for distribution to stockholders. These adjustments generally fall into three categories: items that are non- cash in nature; items that, while a part of the Company's recurring operations, are subject to significant variability and ar e therefore generally limited to a potential indicator of future economic performance; and items that relate to the acquisition or integration of investments and business es rather than to ongoing operations. Management believes that the adjustments to compute “earnings available for distribution” specified above allow investors and analysts to readily identify and track the operating performance of the assets that form the core of the Company’s activity, assist in comparing the core operating results between periods and enable investors to evaluate the Company’s current core performance using the same financial measure that management uses to operate the business. Management also utilizes earnings available for distribution as a financial measure in its decision -making process relating to improvements to the underlying fundamental operations of the Company’s investments, as well as the allocation of resources between those investments, and management also relies on ea rnings available for distribution as an indicator of the results of such decisions. As such, earnings available for distribution is not intended to reflect all of the Company’s activity and should be considered as only one of the factors used by management in assessing the Company’s performance, along with GAAP net income w hich is inclusive of all of the Company’s activities. The Company views earnings available for distribution as a consistent financial measure of its portfolio’s ability to generat e income for distribution to common stockholders. Earnings available for distribution does not represent and should not be considered as a substitute for, or sup erior to, net income or as a substitute for, or superior to, cash flows from operating activities, each as determined in accordance with GAAP, and the Company’s calculati on of this financial measure may not be comparable to similarly entitled financial measures reported by other companies. Furthermore, to maintain qualification as a REIT, US federal income tax law generally requires that the Company distribute at least 90% of its REIT taxable income annually, determined without regard to the deduction for dividends paid and excluding net capital gains. Because the Company views earnings available for distribution as a consistent financial measure of its ability to generate income for distribution to common stockholders, earnings available for distribution is one metric, but not the exclusive metric, that th e Company’s board of directors uses to determine the amount, if any, and the payment date of dividends on common stock. However, earnings available for distribution should not be considered as an indication of the Company’s taxable income, a guaranty of its ability to pay dividends or as a proxy for the amount of dividends it may pay, as earnings available for distribution excludes certain items that impact its cash needs. Appendix
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Q2 2026 Quarterly Supplement Endnotes
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Q2 2026 Quarterly Supplement Endnotes 39 Endnotes to Slide 3: Source: Rithm filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise note d. 1) Represents the sum of the investable assets, including investments in operating companies, across the Rithm platform, includi ng (i) $54 billion of Total Assets on Rithm’s Balance Sheet, less $5 billion in consolidated fund assets, and (ii) $61 billion of AUM. 2) Represents “Stockholders’ Equity in Rithm Capital Corp.” on balance sheet. 3) Represents “Total Assets” on balance sheet. 4) Source: Inside Mortgage Finance reports: Top Primary Mortgage Servicers 1Q26 and Top Mortgage Lenders 3M26. 5) Newrez LTM Q2’26 originations: $66.6 billion 6) Based on Genesis internal estimates and market data. 7) Genesis LTM Q2’26 originations: $6.1 billion 8) Core assets are defined as properties which, at the time of Rithm’s acquisition of Elecor, carried allocated equity value. The assets consist of 1633 Broadway, 1301 Avenue of the Americas, 1325 Avenue of the Americas, 31 West 52nd Street, 900 Third Avenue, 712 Fifth Avenue, 1600 Broadway, One Market Plaza, One Front Street, and 300 Mission Street. 9) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum o f: (i) the net asset value of managed accounts and open -ended funds or gross asset value of direct lending, real estate and real esta te funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management f ees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a con sistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable. 10) Sculptor and Crestline were founded in 1994 and 1997, respectively. Endnotes to Slide 4: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Earnings Available for Distribution and Earnings Available for Distribution per Diluted Share are non -GAAP measures. See “Reconciliation” in the Appendix to this Presentation for a reconciliation to the most comparable GAAP measures. 2) Per diluted share calculations for both GAAP Net Income and Earnings Available for Distribution are based on 568,262,330 weig hted average diluted common shares for the quarter ended June 30, 2026. 3) Book value per share is based on common shares outstanding of 558,407,031 as of June 30, 2026. 4) Dividend yield is based on Rithm common stock closing price of $9.39 on June 30, 2026, the last trading day of the second qua rter, and annualized dividend based on a $0.25 per common share quarterly dividend. 5) Cash and liquidity is a non-GAAP measure representing cash and cash equivalents and available undrawn financing, excluding cash held at certain consolidated investment vehicles and Elecor's property level partnerships, which is not available for general corporate use. Endnotes to Slide 6: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum o f: (i) the net asset value of managed accounts and open -ended funds or gross asset value of direct lending, real estate and real esta te funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management f ees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a con sistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable.
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Q2 2026 Quarterly Supplement Endnotes (Cont.) 40 Endnotes to Slide 7: Source: Bloomberg, Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) The return information represents, where applicable, the composite performance of all feeder funds that comprise the fund pre sented. Gross return information is generally calculated using the total return of all feeder funds, net of all fees and expenses except management fees of such feeder funds and incentive income allocated to the general partner of the funds, and the returns of each feeder fund include the reinvestment of all dividends and other income. Net return information is generally calculated as the gross retur ns less management fees and incentive income allocated to the general partner of the funds. Return information that includes investments in certain funds that Sculptor, as investment manager, determines lack a readily ascertainable fair value, are illiquid or should be held until the resolution of a special event or circumstance ("Special Investments") excludes incentive income allocated to the general partner of the funds on unrealized gains attributable to such investments, which could reduce returns on these investments at the time of realization. Special Investments and initial public offering investm ents are not allocated to all investors in the funds, and investors that were not allocated Special Investments and initial public offering investments may experience materially different returns. The perfor mance calculation excludes realized and unrealized gains and losses attributable to currency hedging specific to certain investors investing in Sculptor Master Fund in currencies other than the U.S. Dollar. Volatility is a statistical measure that measures the fluctuation of the monthly rates of return against the average return. 2) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum o f: (i) the net asset value of managed accounts and open -ended funds or gross asset value of direct lending, real estate and real esta te funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management f ees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a con sistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable. Endnotes to Slide 8: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum o f: (i) the net asset value of managed accounts and open-ended funds or gross asset value of direct lending, real estate and real esta te funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management f ees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a con sistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable. 2) "Long Term AUM“ is defined as AUM from investors that are subject to initial commitment periods of three years or longer. Inv estors with longer-duration AUM may have less than three years remaining in their commitment period. This excludes AUM that had initial commitment periods of three years or longer and subsequently move d to shorter commitment periods at the end of their initial commitment period. 3) The December 31, 2025 AUM presented herein has been adjusted by $(3) billion from the amount previously reported to reflect the reclassification of certain AUM to Rithm’s managed balance sheet and the inclusion of AUM associated with certain hedging strategies. Endnotes to Slide 10: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Reflects Rithm’s share of GP investment along with an affiliate and third -party capital. The investment is held on balance sheet and returns sho wn are on the Rithm’s GP interest only and includes Rithm’s share of promote. 2) NAV Rescue Loan repayment and transfer of funds occurred on 7/2/2026. 3) Expected realizations are based on Rithm’s current projections and market conditions, which may change and affect actual realizations. Endnotes to Slide 11: (1) CBRE Q2 Office Update (2) CBRE Q2 Office Update
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Q2 2026 Quarterly Supplement Endnotes (Cont.) 41 Endnotes to Slide 12: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Represents leases signed and leases pending year-to-date through July 27, 2026. 2) Represents weighted average annualized rent per square foot of leases signed and leases pending year -to-date through July 27, 20 26, compared to the leasing activity for the 12 -months ended December 31, 2025. 3) Core assets are defined as properties which, at the time of Rithm’s acquisition of Elecor, carried allocated equity value. The assets consist of 1633 Broadway, 1301 Avenue of the Americas, 1325 Avenue of the Americas, 31 West 52nd Street, 900 Third Avenue, 712 Fifth Avenue, 1600 Broadway, One Market Plaza, One Front Street, and 300 Mission Street 4) Represents our share of percentage of square feet that is leased, including signed leases not yet commenced. 5) Represents our share of the end of period monthly base rent plus escalations in accordance with the lease terms, multiplied b y 12. 6) Represents average lease term of our share of assets. NYC average lease term for office leases is 8.7 years; San Francisco is 5.7 years. Endnotes to Slide 13: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Core assets are defined as properties which, at the time of Rithm’s acquisition of Elecor, carried allocated equity value. The assets consist of 1633 Broadway, 1301 Avenue of the Americas, 1325 Avenue of the Americas, 31 West 52nd Street, 900 Third Avenue, 712 Fifth Avenue, 1600 Broadway, One Market Plaza, One Front Street, and 300 Mission Street 2) Represents our share of percentage of square feet that is leased, including signed leases not yet commenced. 3) Represents leases signed and leases pending year-to-date through July 27, 2026. 4) Represents weighted average annualized rent per square foot of leases signed and leases pending year -to-date through July 27, 20 26, compared to the leasing activity for the 12 -months ended December 31, 2025 Endnotes to Slide 15: 1) Q2’26 annualized operating ROE is a non-GAAP measure calculated based on annualized pre-tax operating income of $41.6 million, excluding MTM and other non-operating items of $(4.6) million, divided by the average of current and prior period Residential Transitional Lending segment ending total stockholders' equity of $975.8 million. Endnotes to Slide 16: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Portfolio Overview is represented as a percentage of Outstanding Commitments as of June 30, 2026. Outstanding Commitments rep resents the total face amount outstanding that Genesis has agreed to lend under the terms of its lending agreements inclusive of third -party serviced loans originated by Genesis. Outstanding Commit ments differs materially from reported Total Commitments, which represents the full amount that Genesis commits to lend at the time it originates the loan. Endnotes to Slide 17: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Industry data is as of June 30, 2026. 2026E represents an annualized run rate calculated using results through mid -May 2026. Endnotes to Slide 19: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) Q2’26 annualized operating ROE and full year operating ROE are non -GAAP measures. Q2’26 annualized operating ROE is calculated b ased on annualized pre-tax operating income of $307.6 million, excluding the net of hedge MSRs MTM and other non -operating items of $(194.5) million, divided by the average of current and pri or period Origination and Servicing segment ending total stockholders' equity of $5.7 billion. 2) Numbers may not sum due to rounding. 3) Beginning in Q4’25, hedge carry is reported as part of the Servicing segment PTI. Full Year ROEs are updated to reflect this adjustment. 4) Source: Inside Mortgage Finance, Top Primary Mortgage Servicers 1Q26 5) Source: Inside Mortgage Finance, Top Mortgage Lenders 3M26. Endnotes to Slide 20: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwis e noted. 1) Transition to ValonOS is in process with first transfers scheduled for Q1'27, subject to certain requirements. 2) Median refinance approval time through streamlined digital application experience. 3) First-call resolution rate measure as of Q2’26 4) Inquiries resolved by AI chatbot with no need for human transfer. Containment rate measure as of Q2’26. 5) Newrez app by Newrez LLC. (Version 4.11.1). As of July 2026. App Store. https://apps.apple.com/us/app/newrez/id1435999022
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Q2 2026 Quarterly Supplement Endnotes (Cont.) 42 Endnotes to Slide 21: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwis e noted. 1) Represents (i) new loan amounts for all customers originated through DTC or Retail/JV channels divided by (ii) all paid -in-full loans identified from internal records or public records as refinancings. 2) Source: MBA Q4 2025 Quarterly Mortgage Bankers Performance Report, reflecting FY25 fulfillment personnel expenses per loan, w eighted average across all channels ex-correspondent. 3) Total Direct Servicing CPL reflects servicing operations and relevant corporate costs. Industry figures source: MBA Chart of the Week, Components of Direct Servicing Operating Costs, June 26, 2026. 4) Forecast Cost-per-Loan figures reflect estimated CPL following full implementation of HomeVision underwriting technology and full transition to Valon OS platform. See disclaimers at the start of this presentation. Endnotes to Slide 22: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwis e noted. 1) Represents (i) new loan amounts for all customers originated through DTC or Retail/JV channels divided by (ii) all paid -in-full loans identified from internal records or public records as refinancings. 2) Represents (i) new loan amounts for all customers originated through DTC or Retail/JV channels, plus closed end seconds balances divided by (ii) all paid-in-full loans identified from internal records or public records as refinancings, plus first lien UPBs of retained closed end seconds customers plus closed end seconds balance s. 3) Consumer Direct refers to aggregate of DTC and Retail channels. 4) Source: Inside Mortgage Finance, Top Mortgage Lenders 3M26. 5) Includes wholesale broker partners, correspondent clients, and JV partners. Endnotes to Slide 23: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwis e noted. 1) Source: MBA Research Showcase 2026. Industry CPL figure imputed to reflect delinquency levels aligned to Newrez portfolio (4.4% 60+). H1’26 industry figure assumes 2025 cost per loan average. 2) “Owned MSRs: Newrez” includes all owned MSRs serviced by Newrez. “Third-Party Servicing” includes all MSRs serviced by Newrez on behalf of third parties, including subservicing, special servicing, and whole loans. “Owned MSRs: SBO” includes all owned MSRs serviced by others (“SBO”). 3) Source: Inside Mortgage Finance, Top Primary Mortgage Servicers 1Q26 4) Reflects client retention since 2015. Endnotes to Slide 24: Source: Company SEC filings and current financial information. Financial and market data as of June 30, 2026, unless otherwis e noted. 1) Source: Inside Mortgage Finance Top Non-Agency Servicers report as of 1Q26. 2) Reflects client retention since 2015. 3) Source: NY Fed Q1’26 Report on Household Debt And Credit. 4) Loan workout ratios reflect Current % of Completed Loan Workouts (2020 or After). Industry figure based on Mortgage Bankers A ssociation Monthly Loan Monitoring Survey. Endnotes to Slide 26: Source: Company financial information. Financial and market data as of June 30, 2026, unless otherwise noted. 1) H1’26 annualized operating ROE is a non-GAAP measure calculated based on annualized pre-tax operating income of $118.1 million, excluding MTM and other non-operating items of $(67.1) million, divided by the average of current and prior period Investment Portfolio total stockholders' equity of $1,662.4 million. ($M) H1’26 Net Interest and Other Income $168.9 G&A Expenses ($50.8) Pre-Tax Income ex-MTM $118.1 MTM and other non-operating items ($67.1) Total Pre-Tax Income $51.0
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Q2 2026 Quarterly Supplement Abbreviations 43 This Presentation may include abbreviations, which have the following meanings: • 60+ DQ – Percentage of loans that are delinquent by 60 days or more • AAM – Alternative Asset Manager • ABF – Asset-backed Finance • AI -Artificial Intelligence • API - Application Programming Interface • ARM – Adjustable Rate Mortgage • AUM – Assets Under Management • BDC – Business Development Company • BV – Book Value • BVPS – Book Value Per Share • CLO – Collateralized Loan Obligation • CMBS – Commercial Mortgage-Backed Securities • CPL – Cost per Loan • CRE – Commercial Real Estate • CX – Customer Experience • DQ – Delinquency • DTC – Direct to Consumer Origination Channel • EAD – Earnings Available for Distribution • FHA – Federal Housing Administration • FICO – A borrower’s credit metric generated by the credit scoring model created by the Fair Isaac Corporation • FTE – Full-Time Employees • FRE – Fee-Related Earnings • GAAP – Generally accepted accounting principles • GNMA – Ginnie Mae • GOS – Gain on Sale • IRR – Internal Rate of Return • JV – Joint Venture • LTM – Last twelve months • LTV – Loan to Value • MBS – Mortgage-Backed Securities • MSR – Mortgage Servicing Right • MTM – Mark to Market • NAV – Net Asset Value • NI – Net Income • Non-QM – Non-Qualified Mortgage • P/E – Price to Equity • PTI – Pre-Tax Income • QoQ – Quarter-over-quarter • Refi – Refinance • REIT – Real estate investment trust • ROE – Return on Equity • RTL – Residential Transitional Loan • SASB - Single-Asset, Single-Borrower • SBO – Serviced by Others • SEC – United States Securities and Exchange Commission • SOTP – Sum of the Parts • UPB – Unpaid Principal Balance • WAC – Weighted Average Coupon • WALA – Weighted Average Loan Age • YoY – Year-over-year • YTD – Year to date
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Q2 2026 Quarterly Supplement