Finance Of America Companies (FOA) investor relations material

Executive summary

• Operational improvements and investments led to a more scalable business, with significant gains in production, efficiency, and cash generation in Q2 2026.

• Adjusted net income reached $19 million ($0.84/share) in Q2, and $45 million ($1.94/share) for the first half, up 81% year-over-year.

• Funded volume grew 21% year-over-year to $730 million in Q2 2026, reflecting increased demand for home equity solutions.

• Completed acquisition of the $5.2 billion Onity HECM servicing portfolio in June 2026, expanding the servicing footprint and customer base.

• Enhanced digital and AI capabilities, including the launch of the Helix platform and AI-powered customer support tools.

Financial highlights

• GAAP net loss of $29 million in Q2 2026, primarily due to $84 million in negative fair value adjustments and a $24 million adjustment on convertible notes.

• Adjusted net income for Q2 2026 was $19 million, up 36% year-over-year; adjusted EBITDA reached $35 million.

• Cash generation from originations and capital markets was $58 million in Q2 and $116 million for the first half.

• Book value per common share was $33.20; tangible equity per share was $13.31 as of June 30, 2026.

• Total revenues for Q2 2026 were $62 million, down 65% year-over-year, mainly due to negative fair value changes.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: funded volume between $2.8 billion and $3.1 billion, adjusted EPS between $4.50 and $5.00.

• Continued focus on retiring $150 million in senior secured notes by November 2026, with future capital allocation decisions to follow.

• Management expects continued growth in reverse mortgage origination volumes, supported by new product launches and strategic partnerships.