Altisource Portfolio Solutions S.a. · NASDAQ:ASPS

Altisource Portfolio Solutions — Q1 2026 Earnings Presentation

32 slides from Altisource Portfolio Solutions's earnings presentation, Apr 23, 2026

1. Slide 1: Altisource Portfolio Solutions First Quarter 2026 Supplementary Information

   ALTISOURCE PORTFOLIO SOLUTIONS FIRST QUARTER 2026 SUPPLEMENTARY INFORMATION © 2026 Altisource All Rights Reserved.

2. Slide 2: Disclaimer

   DISCLAIMER This presentation contains forward-looking statements that involve a number of risks and statements are subject include, but are not limited to, risks related to customer uncertainties. These forward-looking statements include all statements that are not concentration, impacts to default

3. Slide 3: Non-GAAP Measures

   NON-GAAP MEASURES Adjusted operating income, pretax (loss) income attributable to Altisource, adjusted Furthermore, we believe the exclusion of more significant non-operational items enables pretax income attributable to Altisource, adjusted net (loss) income attributable to comparability to prior p

4. Slide 4: First Quarter 2026 Highlights

   FIRST QUARTER 2026 HIGHLIGHTS • Grew Service revenue and pretax GAAP earnings compared to Q1 2025 from sales wins and lower debt-related interest and transaction costs • Strength in both Business Segments1 − Origination segment Service revenue and Adjusted EBITDA2 growth accelerated from sales wins

5. Slide 5: Total Company Financial Performance

   TO TA L C O M PA N Y F I N A N C I A L P E R F O R M A N C E Service Revenue Business Segments Adjusted EBITDA1 Q1 2026 Highlights (vs. Q1 2025) $45.1 $40.9 $40.8 $39.7 $39.9 • Q1 2026 Service revenue was $45.1 million, a 10% increase $31.4 • Service revenue growth driven by 71% $32.9 $32.0 $31.2 $3

6. Slide 6: Total Company Financial Performance

   TO TA L C O M PA N Y F I N A N C I A L P E R F O R M A N C E Income (Loss) Before Income Taxes and Non-controlling Interests Q1 2026 GAAP Highlights (vs. Q1 2025) $0.2 $0.4 • Generated GAAP income before income taxes and non-controlling interests of $0.4 million ($1.7) compared to a $4.5 million los

7. Slide 7: Servicer and Real Estate Segment

   S E R V I C E R A N D R E A L E S TAT E S E G M E N T Segment Service Revenue Segment Financial Performance (vs. Q1 2025) • Service revenue of $31.4 million decreased 5% primarily due to a one-time 2025 pricing adjustment benefit in our Foreclosure Trustee $32.9 $32.0 $31.2 $30.1 $31.4 business and

8. Slide 8: Servicer and Real Estate – Sales Pipeline and Wins

   S E R V I C E R A N D R E A L E S TAT E – S A L E S P I P E L I N E A N D W I N S Attractive Sales Pipeline1,2 $29.4 $19.3 Weighted Average Pipeline $11.7 Estimated Revenue – End of Quarter Q4'24 Q4'25 Q1'26 Strong Sales Wins3 Cumulative $25.8 $20.6 Wins: $58.7 Estimated Annualized Service $12.4 Rev

9. Slide 9: Growing Hubzu Inventory

   G R O W I N G H U B Z U I N V E N TO R Y Ending Inventory (in thousands) Hubzu Inventory Growth from Sales Wins 17.2 • Recently onboarded two Q4 2025 Hubzu wins: • REO asset management and foreclosure auction agreement with a residential loan servicer • CWCOT2 first chance foreclosure auction agreem

10. Slide 10: Origination Segment

    O R I G I N AT I O N S E G M E N T Segment Service Revenue Segment Financial Performance (vs. Q1 2025) • Service revenue of $13.7 million was 71% higher than Q1 2025 $13.7 • Adjusted EBITDA1 more than doubled to $1.2 million $8.8 $9.8 $8.0 $8.5 • Acceleration of the Origination segment’s Service rev

11. Slide 11: Origination – Sales Pipeline and Wins

    O R I G I N AT I O N – S A L E S P I P E L I N E A N D W I N S Attractive Sales Pipeline1,2 $14.9 $17.2 $13.2 Weighted Average Pipeline Estimated Revenue – End of Quarter Q4'24 Q4'25 Q1'26 Strong Sales Wins3 Cumulative $20.9 $4.7 Wins: $38.2 Estimated Annualized Service $12.6 Revenue on a Stabilized

12. Slide 12: Corporate and Others Segment

    C O R P O R AT E A N D O T H E R S S E G M E N T Corporate Financial Performance (vs. Q1 2025) Corporate and Others Adjusted EBITDA1 Loss • Q1 2026 Corporate Adjusted EBITDA1 loss of $7.6 million reflects a modest increase compared to Q1 2025 • We believe Corporate costs should remain relatively sta

13. Slide 13: Business Environment

    BUSINESS ENVIRONMENT Delinquency and Foreclosure Environment1 Origination Market Environment2 • 90+ day mortgage delinquency rates, including loans in foreclosure: • Q1 2026 industrywide mortgage origination unit volume increased − Increased to 1.60% in February 2026 (1.45% in December 42% compared

14. Slide 14: Conclusion

    C O N C LU S I O N • 10% Service revenue growth and exciting sales wins that should support future growth • Improved pre-tax GAAP earnings by $4.9 million and cash provided by operating activities by $9.4 million compared to Q1 2025 • As the year progresses, we believe: − Onity1 and Rithm will conti

15. Slide 15: Appendix

    APPENDIX a Altisource

16. Slide 16: First Quarter Financial Results

    F I R S T Q U A R T E R 2 0 2 6 F I N A N C I A L R E S U LT S $ millions (except per share data) Q1 2025 Q1 2026 Vs. Q1 2025 Service revenue $ 40.9 $ 45.1 10% Revenue 43.4 47.6 10% Gross profit 13.3 13.1 (2%) Income from operations 3.2 1.7 (47%) Adjusted operating income1 5.2 4.4 (15%) (Loss) incom

17. Slide 17: Operating Metrics

    O P E R AT I N G M E T R I C S Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Default Related Services Onity Serviced Forward Loan Portfolio1: Service revenue2 per delinquent loan3 per quarter Non-GSE and Non-FHA $ 288 $ 246 $ 275 $ 262 $ 316 $ 331 $ 328 $ 308 $ 380 $

18. Slide 18: Operating Metrics – Hubzu

    O P E R AT I N G M E T R I C S Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Hubzu1: Service revenue (in millions)2 $ 7.7 $ 7.1 $ 7.1 $ 5.8 $ 7.1 $ 7.3 $ 6.4 $ 6.0 $ 6.6 $ 6.4 $ 5.7 $ 5.6 $ 6.6 Number of homes sold on Hubzu: Onity serviced portfolios3 599 567 556 443

19. Slide 19: Hubzu Inventory

    H U B Z U I N V E N TO R Y Ending Inventory (in thousands) 17.2 3.7 10.4 7.3 6.8 6.3 6.2 6.0 6.5 6.2 5.7 5.7 13.4 5.0 3.6 4.1 3.6 3.5 3.7 4.1 3.8 3.3 2.6 3.6 2.7 3.7 2.4 2.2 2.2 2.4 2.4 2.4 2.4 Q4'19 Q4'20 Q4'21 Q4'22 Q4'23 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 All Other Customers Onity and Rithm © 20

20. Slide 20: Industry Wide Foreclosure Starts

    I N D U S T R Y W I D E F O R E C L O S U R E S TA R T S Foreclosure Foreclosure Starts and Timing Starts 90+ DQ rate Shaded area represents period of borrower relief • In response to the COVID-19 pandemic, borrowers 180,000 measures 5.00% were provided various relief measures, including 160,000 for

21. Slide 21: Industry Wide Foreclosure Sales

    I N D U S T R Y W I D E F O R E C LO S U R E S A L E S Foreclosure Foreclosures that Convert to Foreclosure Sales Sales % Shaded area represents period of borrower relief • Foreclosure sales are increasing, but remain 50,000 measures 16.0% significantly lower than pre-pandemic levels 45,000 14.0% −

22. Slide 22: Non-GAAP Measures

    NON-GAAP MEASURES Adjusted operating income, pretax (loss) income attributable to Altisource, adjusted pretax income attributable to Altisource, adjusted net (loss) income attributable to Altisource, adjusted diluted (loss) earnings per share, EBITDA, Adjusted EBITDA and Segment Adjusted EBITDA are

23. Slide 23: Non-GAAP Measures

    NON-GAAP MEASURES • Adjusted diluted (loss) earnings per share is calculated by dividing net loss attributable to Altisource after removing intangible asset amortization expense (net of tax), share-based compensation expense (net of tax), cost of cost savings initiatives and other (net of tax), debt

24. Slide 24: Non-GAAP Measures Reconciliation

    NON-GAAP MEASURES Reconciliation Q1 2025 Q1 2026 ($ in millions except per share data) Income from operations $ 3.2 $ 1.7 Intangible asset amortization expense 1.3 1.4 Share-based compensation expense 1.1 1.2 Cost of cost savings initiatives and other (0.4) 0.1 Adjusted operating income $ 5.2 $ 4.4

25. Slide 25: Non-GAAP Measures Reconciliation

    NON-GAAP MEASURES Reconciliation Q1 2025 Q1 2026 ($ in millions except per share data) Net loss attributable to Altisource $ (5.3) $ (0.6) Intangible asset amortization expense, net of tax 1.3 1.4 Share-based compensation expense, net of tax 1.0 1.1 Cost of cost savings initiatives and other, net of

26. Slide 26: Non-GAAP Measures Reconciliation

    NON-GAAP MEASURES Reconciliation Q1 2025 Q1 2026 ($ in millions except per share data) Calculation of the impact of intangible asset amortization expense, net of tax Intangible asset amortization expense $ 1.3 $ 1.4 Tax benefit from intangible asset amortization - (0.0) Intangible asset amortization

27. Slide 27: Non-GAAP Measures Reconciliation

    NON-GAAP MEASURES Reconciliation Q1 2025 Q1 2026 ($ in millions except per share data) Calculation of the impact of cost of cost savings initiatives and other, net of tax Cost of cost savings initiatives and other $ (0.4) $ 0.1 Tax provision (benefit) from cost of cost savings initiatives and other

28. Slide 28: Non-GAAP Measures Reconciliation

    NON-GAAP MEASURES Reconciliation Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ($ in millions except per share data) Net (loss) income attributable to Altisource $ (5.3) $ 16.6 $ (2.4) $ (7.2) $ (0.6) Income tax provision (benefit) 0.7 (16.5) 0.7 (1.0) 0.9 Interest expense, net of interest income1 4.7 2.4

29. Slide 29: Non-GAAP Measures Reconciliation

    NON-GAAP MEASURES Reconciliation Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ($ in millions except per share data) Servicer and Real Estate: Income before income taxes and non-controlling interests $ 10.9 $ 11.3 $ 9.0 $ 2.1 $ 9.8 Interest expense, net of interest income1 0.0 0.0 0.1 0.0 - Depreciation a

30. Slide 30: Non-GAAP Measures Reconciliation

    NON-GAAP MEASURES Reconciliation Q1 2025 Q2 2025 Q3 2025 hn Q4 2025 hn Q1 2026 ($ in millions except per share data) Corporate and Others: Loss before income taxes and non-controlling interests $ (15.4) $ (11.6) $ (10.3) $ (10.2) $ (10.1) Interest expense, net of interest income1 4.7 2.4 2.2 1.7 1.4

31. Slide 31: Investor Relations Information

    I N V E S TO R R E L AT I O N S I N F O R M AT I O N Altisource Portfolio Solutions S.A. is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of ABOUT ALTISOURCE innovative services and technologies, Altisource h

32. Slide 32: Altisource

    Altisource Y OFUSRLPOcN*E. S50 IUPREC SE ALTISOURCE.COM

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