UWM (UWMC) investor relations material

Executive summary

• Operating income exceeded $180 million and Adjusted EBITDA was consistently between $160 million and $200 million per quarter, with $40 billion in business completed in a challenging mortgage market.

• Raised $1.65 billion in preferred equity and announced a $400 million rights offering, with Oaktree, SFS Group, and the Ishbia Family as key partners, to strengthen capital and liquidity.

• Loan origination volume reached $39.7 billion in Q2 2026, flat year-over-year, with total revenue of $888 million and a net loss of $451.9 million due to significant hedging losses.

• Strategic partnership with Oaktree brings capital and mortgage expertise, positioning for long-term growth.

• Dividend payments were suspended post-quarter to prioritize liquidity and capital discipline.

Financial highlights

• Total equity increased from $985 million to $3 billion after the capital raise and rights offering.

• Non-funding debt-to-equity ratio improved from 5.6x to 1.2x pro-forma for the capital raise.

• Q2 2026 Adjusted EBITDA was $185.9 million, with loan production income of $527.2 million and servicing income of $220.5 million.

• Significant $603 million Q2 2026 derivative loss related to the abandoned Two Harbors transaction.

• Available liquidity rose to $2.68 billion post-transaction.

Outlook and guidance

• Management expects sufficient liquidity and capital resources to fund operations and loan originations for the next twelve months.

• Origination volume expectations remain flat for 2026 due to persistent rate headwinds, but the company is positioned to expand market share and capitalize on future mortgage cycles.

• Dividend suspension is part of a disciplined capital allocation strategy, with potential for future special or regular dividends.