Rocket Companies, Inc. · NYSE:RKT
Rocket Companies — Q2 2026 Earnings Presentation
41 slides from Rocket Companies's earnings presentation, Aug 6, 2026
Slide 1: Investor Presentation August 2026
Investor Presentation August 2026
Slide 2: Disclaimer
Disclaimer This presentation contains and related discussions may contain “forward-looking statements” within the meaning of U.S. We define “Adjusted EBITDA” as net income (loss) before bond interest expense, (benefit from) provision for tax income federal securities laws. Forward-looking statements
Slide 3: Table of contents
Table of contents 01 Q2-26 highlights| 4 - 6 02 Company overview | 7 - 15 03 Category of one | 16 - 24 04 Proven leadership and culture | 25 - 29 05 Financials | 30 - 40 Investor Presentation | August 2026 3 of 40
Slide 4: Q2-26 highlights
01 Q2-26 highlights Investor Presentation | August 2026 4 of 40
Slide 5: Q2-26 highlights
Q2-26 highlights $2.8B Adjusted revenue Highest Record levels of $766M profitability in four years purchase and refinance market share Adjusted EBITDA $441M Adjusted net income Double digit conversion Integration on track $0.16 and productivity lift for expense synergy Adjusted diluted EPS from AI t
Slide 6: Q2-26 financial highlights
Q2-26 financial highlights ($ in M) Adjusted Revenue ($ in M) Adjusted EBITDA $2,822 $2,761 $766 $738 $2,571 $592 $1,872 $1,431 $349 $172 Q2-25 Q3-251 Q4-251 Q1-26 Q2-26 Q2-25 Q3-251 Q4-251 Q1-26 Q2-26 Gain on sale margin %, excluding correspondent: Adjusted EBITDA margin % 2.80% 2.80% 3.20% 3.22% 3
Slide 7: Company overview
02 Company overview Investor Presentation | August 2026 7 of 40
Slide 8: Rocket is on a mission to Help Everyone Home
Rocket is on a mission to Help Everyone Home. Investor Presentation | August 2026 8 of 40
Slide 9: Pioneering the future of homeownership
Pioneering the future of homeownership Since 1985, we've been committed to innovating on and improving the homebuying experience for everyone. 41 years #1 #1 of operating history mortgage lender1 mortgage servicer2 $2T+ 9.1M cumulative origination volume servicing clients 1) IMF as of June 30, 2026,
Slide 10: Most awarded mortgage brand
Unmatched client service Rocket Mortgage has earned 23 J.D. Power awards across mortgage origination and servicing, with 11 years as the top-ranked mortgage servicer. We've built our reputation for exceptional service by delighting millions — every client, every time. Most awarded 70+ net mortgage b
Slide 11: Trusted partner for major life moments
Trusted partner for major life moments By integrating search, financing, closing and servicing, Rocket creates lifelong client relationships that compound in value. An end-to-end platform… …every step of the client journey. Year 1: Purchase first home Home search Year 3: Refinance into lower rate Ho
Slide 12: A large and fragmented market
A large and fragmented market $5T 2 The homeownership market represents a significant $2T 3 opportunity that Rocket is uniquely equipped to capture. Mortgage Total addressable origination homeownership market market The opportunity top 10 players hold only 24% of mortgage originations.4 1) Bureau of
Slide 13: Market share growth through the cycles
Market share growth through the cycles Refinance 14.3% 14.3% Purchase 12.2% 12.1% 6.2% 5.5% 6.2% 4.0% 2.3% 0.3% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q4-2 5 Q2-26 Source: Company reported origination volume. Market share based on MBA and Fannie Mae mortgage marke
Slide 14: Balanced business model with growth upside
Balanced business model with growth upside The majority of our revenue is durable through market cycles, with significant upside when rates decline. Recurring and less rate sensitive revenue 70% • Servicing fees (net of amortization) • Personal finance subscriptions • Real estate brokerage commissio
Slide 15: Recapture upside as in-the-moneyness expands
Recapture upside as in-the-moneyness expands Owned MSR UPB1 26% $319B > 6.0% rate of total 5x growth in UPB above 6.0% since 2024 $891B < 6.0% rate 14% $66B > 6.0% rate of total $415B < 6.0% rate June 2024 June 2026 1) Based on boarded owned MSR UPB as of June 30, 2026. Investor Presentation | Augus
Slide 16: Category of one
03 Category of one Investor Presentation | August 2026 16 of 40
Slide 17: Compounding model for growth
Compounding model for growth Our integrated ecosystem, platform, and distribution network reinforce each other — compounding our competitive advantages over time. Integrated ecosystem Connected homebuying journey across search, financing and servicing Scaled technology platform Category Data and tec
Slide 18: Integrated homeownership ecosystem
Integrated homeownership ecosystem Our scaled, end-to-end ecosystem delivers a seamless, vertically integrated experience that reduces friction and deepens client relationships. Home search Rental Real estate brokerage Personal finance Loan servicing Title and closing Home financing Investor Present
Slide 19: Expansive distribution network
Expansive 9.1M servicing clients distribution New 60M+ network clients High-intent clients Rocket MAU Rocket’s network connects high intent clients with hundreds of thousands of real estate agents and over ten thousand loan officers and mortgage broker partners. Industry professionals 8K+ Rocket 2.2
Slide 20: Technology platform built for homeownership
Technology platform built for homeownership Built for the AI era, Rocket’s proprietary platform leverages 30+ petabytes of data to lift conversion and unlock scalable capacity. Front-end Home Mortgage Mortgage 3rd party Personal client experience search origination servicing origination finance Busi
Slide 21: Interactions at scale expand our data advantage
Interactions at scale 9.1M servicing clients expand our data advantage 200+ 180M trained home and Data powers our proprietary AI models rental listings models, which turn insight into personalized experiences at scale. 60M+ 160M Rocket Redfin MAU MAUs sessions 160M+ 30PB+ call logs data MAU: Monthly
Slide 22: AI is delivering business value
AI is delivering business value AI is changing the shape of our business enabling reach and scale, lifting conversion and building the foundation for infinite capacity. $2B incremental monthly $300B origination volume origination capacity Servicing: Voice AI delivers Digital purchase pre-approval: P
Slide 23: Recapture extends client lifetime value
Recapture extends client lifetime value We aim to delight every client, from the very first interaction and every time after, which is why our recapture rate ~3X higher than the industry average.1 #1 Originator #1 Servicer 60M+ monthly visitors 9.1M servicing clients High recapture drives Recapture
Slide 24: Home equity loans unlocking record levels of equity
Home equity loans unlocking record levels of equity In 4 years, Rocket’s home equity loans (“closed end seconds”) grew to lead the market, meeting the moment for homeowners to tap into record levels of home equity. #1 lender1 47% 1st independent mortgage co to lead the category average Rocket client
Slide 25: Proven leadership and culture
04 Proven leadership and culture Investor Presentation | August 2026 25 of 40
Slide 26: Our unrivaled leadership team
Our unrivaled leadership team Rocket Companies is driven by experienced leaders – this collective strength enables Rocket to navigate change with confidence, foster innovation and execute on our mission to Help Everyone Home. Varun Krishna Brian Brown Jay Bray Shawn Malhotra Kelly Ann Doherty Chief
Slide 27: Culture is our foundation
Culture is our foundation We are grounded in 16 philosophies, known as ISM: You’ll see it when you believe it. ISM: Every client. Every time. “ISMs,” which serve as our guiding principles for success and reflect our core values. ISM: Launch and learn. ISM: Do the right thing. 100 Best Companies To W
Slide 28: Driving transformation of homeownership
Driving transformation of homeownership June 1985 March 1998 January 2002 June 2011 October 2019 September 2023 March 2025 October 2025 Rock Financial In a groundbreaking First fully electronic Quicken Loans Rocket Mortgage Varun Krishna Rocket announces Rocket officially founded by email, Dan Gilbe
Slide 29: Investor Presentation | August 2026
Investor Presentation | August 2026 29 of 40
Slide 30: Financials
05 Financials Investor Presentation | August 2026 30 of 40
Slide 31: Transformational servicing scale
Transformational $2,122 servicing scale $2,110 $2,017 Servicing portfolio generates stable cash flows while balancing the business and fueling new growth through Rocket’s powerful recapture engine. Mr. Cooper acquisition closed $613 Oct. 1 $609 Q1’25 2Q’25 4Q’25 Q1’26 (UPB¹, $ in B) 3Q’25 Q2-25 Q3-2
Slide 32: Strong liquidity position
Strong liquidity position RKT rated investment grade Cash and cash Undrawn available mortgage Undrawn lines equivalents servicing rights and advance facilities of credit $3.1B $5.8B $2.3B $11.2B total up $1.8B from Q1-26 $8.1B available on lines of credit Notes: 1) Completed $1.5B senior notes offer
Slide 33: Financial highlights
Financial highlights 2025 2026 ($ in M, except per share amounts) Q3² Q4³ Q1 Q2 Q3E¹ Q2 Adjusted revenue $1,431 $1,872 $2,571 $2,822 $2,761 $2,500-$2,700 YoY % 9% 31% 103% 108% 93% QoQ % 5% 31% 37% 10% (2%) Adjusted EBITDA $172 $349 $592 $738 $766 % margin 12% 19% 23% 26% 28% Adjusted net income $75
Slide 34: Operational highlights
Operational highlights 2025 2026 ($ in M) Q2 Q3 Q4 Q1 Q2 Servicing portfolio (UPB)1 $609,204 $613,146 $2,121,883 $2,109,774 $2,016,711 YoY % 14% 12% 258% 251% 231% QoQ % 1% 1% 246% (1%) (4%) Closed loan volume $29,056 $32,413 $47,299 $44,653 $49,125 YoY % 18% 14% 70% 107% 69% QoQ % 35% 12% 46% (6%)
Slide 35: Originations channel trends
Originations channel trends 2026 ($ in M) Q1 Q2 Direct to Consumer Closed loan volume $26,777 $28,059 Net rate lock volume $29,884 $26,000 Gain on sale margin 4.07% 4.13% Rocket Pro Closed loan volume $10,997 $11,111 Net rate lock volume $11,711 $10,885 Gain on sale margin 1.06% 0.69% Correspondent
Slide 36: Servicing portfolio
Servicing portfolio 2026 Q2 ($ in M, UPB) MSR Subservicing and Other Total Balance at beginning of period $1,257,976 $851,798 $2,109,774 Originations 43,264 - 43,264 Acquisitions / increase in subservicing1 8,578 72,151 80,729 2 Dispositions / decrease in subservicing (52,926) (93,490) (146,416) Run
Slide 37: Endnotes
Endnotes1 2025 2026 12 13 ($ in M) Q2 Q3 Q4 Q1 Q2 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP Net income (loss) $34 ($124) $68 $297 $229 1 Bond interest expense 45 111 140 139 142 (Benefit from) provision for income taxes (10) (60) 101 103 52 2 Depreciation and amortization 28 3
Slide 38: Endnotes
Endnotes1 2025 2026 Q2 Q3² Q4³ Q1 Q2 ($ in M) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Total revenue, net $1,451 $1,695 $2,823 $2,941 $2,784 Change in fair value of MSRs and related liabilities due to valuation (20) 177 (252) (119) (23) 1 assumptions (net of hedges) Adjusted reven
Slide 39: Endnotes
Endnotes1 1) Reflects net income to Class A common shares from pro forma exchange and conversion of corresponding shares of our Class D common shares held by non- controlling interest holders during the periods ended June 30, 2025. Class D common shares were surrendered and retired on June 30, 2025,
Slide 40: Endnotes
Endnotes 2) “Adjusted EBITDA Margin” calculated as Adjusted EBITDA divided by Adjusted revenue. “Adjusted Net Income Margin” calculated as Adjusted Net Income divided by Adjusted revenue. We define “Adjusted revenue” as Total revenue, net of the change in fair value of MSRs and related liabilities d
Slide 41: Thank you.
Thank you. Investor Presentation | August 2026