Rithm Capital Corp. · NYSE:RITM
Rithm Capital — Merger or Acquisition (September 2025)
15 slides from Rithm Capital's merger presentation, Sep 17, 2025
Slide 1: Rithm Capital to Acquire Paramount Group, Inc.
Rithm Capital Rithm Capital to Acquire Paramount Group, Inc. September 17, 2025
Slide 2: Disclaimers
Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” FORWARD-LOOKING STATEMENTS. Certain statements regardi
Slide 3: Transaction Highlights
Transaction Highlights Rithm Capital to acquire Paramount Group, Inc. (“Paramount”) (NYSE: PGRE), a premier office REIT for cash consideration of ~$1.6 billion • Paramount owns, operates and manages high-quality, Class A office properties in New York City and San Francisco Paramount Overview • Param
Slide 4: Why Now?
Why Now? Rithm believes it is entering into a dislocated sector at attractive valuations, positioned for significant upside and the opportunity to create enterprise value Attractive Entry Expansion of Accelerates Favorable Point Near Bottom Rithm’s Asset Growth of Scaled Fundamentals in of Market Ma
Slide 5: Power of the Platform
Power of the Platform Growing asset management platform delivering scalable investment solutions across asset classes and return profiles (1) ~$100B INVESTABLE ASSETS(1)(2) CORPORATE ASSET-BASED MULTI-STRATEGY REAL ESTATE CREDIT FINANCE ✓ Direct Lending ✓ Multi-Strategy Hedge Fund ✓ Core-Plus / Oppo
Slide 6: Paramount Group Overview
Paramount Group Overview Business Highlights • Paramount owns, operates, and manages high-quality Class A office properties predominantly in New York 13.1M sq ft $90/sq ft City and San Francisco(1) Across 17 Assets(3) Annualized Average Rent(2) • Landlord of choice since 1978, Paramount has served f
Slide 7: Commercial Real Estate Market Opportunity
Commercial Real Estate Market Opportunity We believe CRE delivers attractive yields, builds stability, protects against inflation, and diversifies portfolios in a compelling risk-adjusted asset class Values are Starting to Recover • There is ~$20T of commercial real estate value in the US 130 NCREIF
Slide 8: Office Market Tailwinds
Office Market Tailwinds Rithm believes it and its partners are well positioned to capitalize on the recovery of office through the acquisition of a premier platform with high-quality properties …rent growth prospects are getting With limited future supply… …and recovering leasing volumes… more appea
Slide 9: Building a Diversified Alternative Asset Management Platform
Building a Diversified Alternative Asset Management Platform Rithm is a global alternative asset manager delivering innovative investment solutions and long-term value for investors THE RITHM EDGE Deep institutional Broad public markets footprint with over $59B UPB of securitizations issued by Rithm
Slide 10: Rithm Demonstrates Commitment to Growth and Diversification in Asset Management
Rithm Demonstrates Commitment to Growth and Diversification in Asset Management Since internalizing management in 2022, Rithm has grown significantly, both organically and through acquisitions, resulting in ~$100 billion of investable assets today(1)(2) 2025 2024 Secures strategic partnership to man
Slide 11: Appendix
rithm Appendix
Slide 12: Premier Portfolio of Class A Assets – New York City
Premier Portfolio of Class A Assets – New York City Properties are occupied by a diversified array of top-tier tenants with strong credit, and the majority of leases do not expire until after 2029 3 1 1633 Broadway 5 900 Third 1 2 Avenue(3) 8 • 2.5M sq ft 4 6 • 0.6M sq ft • 92.6% leased 5 • 27% of G
Slide 13: Premier Portfolio of Class A Assets – San Francisco
Premier Portfolio of Class A Assets – San Francisco In the three months ended June 30, 2025, Paramount leased 190K+ sq ft in the San Francisco portfolio at a weighted average initial rent of $93.07 per sq ft 1 One Market Plaza 3 One Front St (2) • 1.6M sq ft • 0.6M sq ft San Francisco Portfolio • 69
Slide 14: Abbreviations
Abbreviations This Presentation may include abbreviations, which have the following meanings: • AUM – Assets Under Management • CRE – Commercial Real Estate • FRE – Fee Related Earnings • GP – General Partner • M-RevPAF – Market Revenue per Available Foot • REIT – Real Estate Investment Trust • RTL
Slide 15: rithm
rithm
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