Slide 1: 3Q 2024 Earnings Supplemental
3Q 2024 Earnings Supplemental ©2024 Caliber Building on a 15-year track record of profitable growth and success
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes statements concerning CaliberCos Inc.’s (the “Company,” or “Caliber”) expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance, or growth and other statements that are not historical
Slide 3: Today's Speakers
Today’s Speakers 3T H E W E A L T H D E V E L O P M E N T C O M P A N Y Chris Loeffler CHIEF EXECUTIVE OFFICER Jade Leung CHIEF FINANCIAL OFFICER Chris Loeffler has served as the CEO and Chairman of Caliber’s Board of Directors since its inception. As CEO, Chris directs and executes global strategy,
Slide 4: CEO Commentary
CEO Commentary 4T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 5: Why Invest
1. 15+-year history of growth across market cycles with $2.9 billion pool of assets under management and under development 2. Demonstrated track record of delivering unlevered annualized gross internal rate of return (IRR) of 19% on investments sold 3. Large and growing market opportunity with inves
Slide 6: Caliber… In Three Numbers
Caliber… In Three Numbers 6T H E W E A L T H D E V E L O P M E N T C O M P A N Y 15yrs 19% IRR $2.9 Billion* *AUD & AUM
Slide 7: Publicly Traded Parent Operates Investment Funds
Publicly Traded Parent Operates Investment Funds 7T H E W E A L T H D E V E L O P M E N T C O M P A N Y Caliber Nasdaq: CWD RE Fund 1 RE Fund 2 Hotel UPREIT
Slide 8: We Invest in Real Estate Where Most Others Don't
8 BEHAVIORAL HEALTH HOSPITAL HOSPITALITY/HOTEL MULTI-FAMILY HOUSING OPPORTUNITY ZONE ASSETS We Invest in Real Estate Where Most Others… Don’t
Slide 9: The Best Opportunities are in the Middle-Market
9T H E W E A L T H D E V E L O P M E N T C O M P A N Y The Best Opportunities are in the Middle-Market Middle-Market Assets • $5 to $50 million per project • Large opportunity set • Highly-fragmented market • Less competition • Caliber’s in-house services model enables access Middle Market Geographi
Slide 10: We Solve Our Clients' Financial Needs
10T H E W E A L T H D E V E L O P M E N T C O M P A N Y Income Lending, CORE Plus, Value Add Growth Distressed and Special Situations, Adaptive Re-Use & Development Tax Planning/Reduction Opportunity Zone Funds, 1031 Investments We Solve Our Clients’ Financial Needs Desired Outcome Caliber Product O
Slide 11: Our Market Is Growing Dramatically
Our Market Is Growing Dramatically 11T H E W E A L T H D E V E L O P M E N T C O M P A N Y Source: Preqin Future of Alternatives 2028 report, October 2023 *Forecast 10.1 16.3 24.5 0 5 10 15 20 25 30 2019 2024* 2028* A ss e ts U n d e r M a n a g e m e n t ($ tr il lio n ) $24.5 Trillion in Global Al
Slide 12: We Have Multiple Revenue Streams
Performance Allocations Asset Management Revenue We Have Multiple Revenue Streams 12T H E W E A L T H D E V E L O P M E N T C O M P A N Y Note: asset services performed in-house at market rates.
Slide 13: Increasing The Money We Manage/Invest Is A Core Growth Driver
Increasing The Money We Manage/Invest Is A Core Growth Driver 13T H E W E A L T H D E V E L O P M E N T C O M P A N Y High Net-Worth Investors Registered Investment Advisors & Independent Broker-Dealers Family Offices Boutique Institutions Caliber Private Client Sales Caliber Wholesale Caliber Insti
Slide 14: Caliber Hospitality Trust – Another Path To Revenue Growth
Caliber Hospitality Trust – Another Path To Revenue Growth 14T H E W E A L T H D E V E L O P M E N T C O M P A N Y Using the Caliber infrastructure to launch public investment products
Slide 15: Consistent Growth – A Model We've Succeeded With For Years
Consistent Growth – A Model We’ve Succeeded With For 15 Years 15T H E W E A L T H D E V E L O P M E N T C O M P A N Y Raise Capital Grow Assets Under Management Grow Revenue
Slide 16: Caliber Earns More Per Dollar in AUM
Source: Caliber’s estimates and internal research reviewing comparable business models Caliber Earns More Per Dollar in AUM 16T H E W E A L T H D E V E L O P M E N T C O M P A N Y Caliber’s In-House Services Model: Increased Control & Multiple Revenue Streams Traditional Asset Managers: Lower Contro
Slide 17: 2026 Financial Targets
2026 Financial Targets* 17T H E W E A L T H D E V E L O P M E N T C O M P A N Y Cumulative Fundraising of $750M Annualized Platform Revenue of $50M Assets Under Management (AUM) of $3B * End of 2026
Slide 18: Path Forward for Enterprise Value Growth
Path Forward for Enterprise Value Growth 18T H E W E A L T H D E V E L O P M E N T C O M P A N Y Fundraising Product Innovation Acquisitions
Slide 19: Our Interests Are Aligned – Insiders Own ~50% Of Our Stock
Our Interests Are Aligned – Insiders Own ~50% Of Our Stock 19T H E W E A L T H D E V E L O P M E N T C O M P A N Y The people who built Caliber, still manage Caliber Chris Loeffler CHIEF EXECUTIVE OFFICER Jennifer Schrader PRESIDENT Jade Leung CHIEF FINANCIAL OFFICER Roy Bade CHIEF DEVELOPMENT OFFIC
Slide 20: Independent Board Committed to Strong Corporate Governance
Independent Board Committed to Strong Corporate Governance 20T H E W E A L T H D E V E L O P M E N T C O M P A N Y • Chris Loeffler – Chief Executive Officer & Co-Founder • Jennifer Schrader – President & Co-Founder • Dan Hansen – Lead Independent Director • William J. Gerber – Director • Michael Tr
Slide 21: 3Q 2024 Financial Highlights
3Q 2024 Financial Highlights 21T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 22: 3rd Quarter – Summary Highlights
3rd Quarter – Summary Highlights 22T H E W E A L T H D E V E L O P M E N T C O M P A N Y Financial Measures Metrics Corporate • Fair value assets under management of $807.0 million • Managed capital of $485.3 million • Total revenues of $11.3 million • Platform revenue of $7.4 million, primarily dri
Slide 23: 3rd Quarter Summary Results
$17,025 $11,302 $- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Q3'23 Q3'24 (0 0 0 s) Total Consolidated Revenue* 3rd Quarter Summary Results 23T H E W E A L T H D E V E L O P M E N T C O M P A N Y Source: Caliber reports Net (Loss) Income (per common share) $(0.16) Q3’23 $0.01 Q3’24 $3,72
Slide 24: 3rd Quarter – Historical Summary Results
3rd Quarter – Historical Summary Results 24T H E W E A L T H D E V E L O P M E N T C O M P A N Y $383 $392 $402 $412 $438 $454 $470 $485 $- $100 $200 $300 $400 $500 $600 $700 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 (0 0 0 ,0 0 0 s) Managed Capital $(1,766) $1,034 $(2,327) $(1,511) $1,553 $(1,669) $(
Slide 25: 3Q 2024 Financial Review
3Q 2024 Financial Review 25T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 26: GAAP Income Statement
GAAP Income Statement 26T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 27: GAAP Income Statement (concl.)
GAAP Income Statement (concl.) 27T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 28: GAAP Balance Sheet
GAAP Balance Sheet 28T H E W E A L T H D E V E L O P M E N T C O M P A N Y CALIBERCOS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA) September 30, 2024 December 31, 2023 (unaudited) Assets Cash $ 516 $ 940 Restricted cash 2,534
Slide 29: GAAP Balance Sheet (concl.)
GAAP Balance Sheet (concl.) 29T H E W E A L T H D E V E L O P M E N T C O M P A N Y September 30, 2024 December 31, 2023 Liabilities and Stockholders’ Equity Notes payable $ 49,673 $ 53,799 Accounts payable and accrued expenses 8,638 8,886 Due to related parties 210 257 Operating lease liabilities 1
Slide 30: GAAP Balance Sheet (cont.)
GAAP Balance Sheet (cont.) 30T H E W E A L T H D E V E L O P M E N T C O M P A N Y CALIBERCOS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA) Commitments and Contingencies Common stock Class A, $0.001 par value; 100,000,000 shar
Slide 31: CaliberCos Contacts
https://www.caliberco.com/ CaliberCos NASDAQ: CWD Contacts: Chris Loeffler, CEO Chris.Loeffler@CaliberCo.com Lisa Fortuna, Investor Relations, Financial Profiles lfortuna@finprofiles.com
Slide 32: Appendix
Appendix 32T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 33: Non-GAAP Measures
33T H E W E A L T H D E V E L O P M E N T C O M P A N Y Non-GAAP Measures We use non-GAAP financial measures to evaluate operating performance, identify trends, formulate financial projections, make strategic decisions, and for other discretionary purposes. We believe that these measures enhance the
Slide 34: Platform Earnings
34T H E W E A L T H D E V E L O P M E N T C O M P A N Y Platform Earnings Platform Earnings represents the performance of the Caliber asset management platform segment, which generates revenues and expenses from managing our investment portfolio, excluding any consolidated assets or funds. Platform
Slide 35: NON-GAAP Reconciliations
NON-GAAP Reconciliations 35T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 36: NON-GAAP Reconciliations (cont.)
NON-GAAP Reconciliations (cont.) 36T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 37: NON-GAAP Reconciliations (cont.)
NON-GAAP Reconciliations (cont.) 37T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 38: NON-GAAP Reconciliations (cont.)
NON-GAAP Reconciliations (cont.) 38T H E W E A L T H D E V E L O P M E N T C O M P A N Y ASSET MANAGEMENT PLATFORM SEGMENT(1) (AMOUNTS IN THOUSANDS) (UNAUDITED) PLATFORM REVENUE(1) (AMOUNTS IN THOUSANDS) (UNAUDITED) Three Months Ended September 30, 2024 2024 2023 Fund set-up fees $ 831 $ 398 Fund ma
Slide 39: NON-GAAP Reconciliations (cont.)
NON-GAAP Reconciliations (cont.) 39T H E W E A L T H D E V E L O P M E N T C O M P A N Y MANAGED CAPITAL (AMOUNTS IN THOUSANDS) (UNAUDITED) Managed Capital Balances as of December 31, 2023 $ 437,625 Originations 19,099 Redemptions (2,819) Balances as of March 31, 2024 453,905 Originations 18,936 Red
Slide 40: NON-GAAP Reconciliations (cont.)
NON-GAAP Reconciliations (cont.) 40T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 41: NON-GAAP Reconciliations (concl.)
NON-GAAP Reconciliations (concl.) 41T H E W E A L T H D E V E L O P M E N T C O M P A N Y FV AUM, by asset class (AMOUNTS IN THOUSANDS) (UNAUDITED) September 30, 2024 December 31, 2023 Real Estate Hospitality $ 68,800 $ 67,200 Caliber Hospitality Trust 240,300 201,600 Residential 162,100 138,000 Com