Rithm Capital (RITM) investor relations material

Executive summary

• Delivered strong Q1 2026 results with robust activity across origination, asset management, and commercial real estate, demonstrating franchise strength and operational resilience.

• Over $100 billion in investable assets, with $59–60 billion AUM and $53 billion on balance sheet, spanning credit, real estate, and multi-strategy investing.

• Completed acquisitions of Elecor (Paramount Group) and Crestline Management, expanding CRE and asset management segments.

• Rebranded Paramount Group to Elecor Properties, reflecting a renewed focus on Class A real estate in NY and San Francisco.

• Continued focus on performance-led growth, relationship building with LPs, and maximizing value for public equity holders.

Financial highlights

• Earnings available for distribution (EAD) of $0.51 per diluted share; $289.6 million in EAD; GAAP net income of $67.8 million ($0.12 per diluted share).

• Book value per share at $12.51 at quarter-end; total assets $53.4 billion; stockholders’ equity $9.1 billion.

• Dividend of $0.25 per share (10.5% yield); $139.6 million paid in Q1 2026; $6.6 billion cumulative dividends since inception.

• Ended quarter with $1.4–$1.6 billion in cash and liquidity.

• Total revenues rose to $1.38 billion, a 41% increase year-over-year.

Outlook and guidance

• Expect continued growth in ABF and credit, leveraging market dislocations and refinancing-driven CRE activity.

• Genesis Capital projected to produce $6.5–$7 billion in loans and $150–$175 million EBITDA for 2026.

• Focus on growing fee-related earnings, expanding asset-generating businesses, and leveraging technology for operational efficiency.

• Liquidity expected to remain sufficient for the next 12 months, with $9.7 billion in available borrowing capacity.

• Anticipate further efficiency gains and cost reductions, especially through AI and technology investments in Newrez.