Slide 1: Second Quarter 2026 Financial Results Presentation
Newmark Group, Inc. (Nasdaq: NMRK) Second Quarter 2026 Financial Results Presentation July 29, 2026 Property Type: Affordable Housing NMRK.COM
Slide 2: Disclaimers
Disclaimers Discussion of Forward-Looking Statements References in this document to “we,” “us,” “our,” the “Company” and “Newmark” mean Newmark Group, Inc., and its consolidated subsidiaries. Statements in this document regarding Newmark that are not historical facts are "forward-looking statements"
Slide 3: Table of Contents
Table of Contents 04 Recent Consolidated Results & Company Overview 14 Outlook & Targets 16 GAAP Financial Results 21 Additional Information on Newmark 28 Additional Industry Information 31 Financial Tables & Reconciliations Property Type: Office
Slide 4: Recent Consolidated Results
Recent Consolidated Results Highlights of Consolidated Results 2Q26 2Q25 Change YTD 2026 YTD 2025 Change (USD millions, except per share data) Total Revenues $888.4 $759.1 17.0% $1,734.9 $1,424.6 21.8% GAAP net income (loss) for fully diluted shares 27.1 28.8 (5.7%) 46.7 16.1 190.3% GAAP net income
Slide 5: Leading Commercial Real Estate Advisor and Service Provider
Leading Commercial Real Estate Advisor and Service Provider Founded in 1929, Newmark is a global leader in commercial real estate services, seamlessly powering every phase of the property life cycle TTM Revenues TTM Transaction Volume Professionals Global Client Service Locations +$3.6B +$1.7T +10,0
Slide 6: Second Quarter & First Half 2026 Highlights
Second Quarter & First Half 2026 Highlights1 (#039;s in millions, except per share data) Total Revenues AEPS AEBITDA AEBITDA Margin $888.4 $0.39 $139.2 15.7% 2Q 2026 17.0% 25.8% 22.1% 65bps $1,734.9 $0.71 $260.3 15.0% YTD 2026 21.8% 36.5% 28.1% 74bps In 2Q 2026: - Total Revenues in the U.S. and the U.K
Slide 7: Total Revenues
Total Revenues (#039;s in millions) 2Q 2026 YTD 2026 Management Services, Management Services, Servicing Fees, & Other Servicing Fees, & Other 29.2% 29.5% 39.5% 40.1% 2Q 2026 Revenue YTD 2026 Revenue by Business by Business Capital Markets Capital Markets 31.3% 30.4% Leasing & Leasing & Other Commissio
Slide 8: Management Services, Servicing Fees & Other
Management Services, Servicing Fees & Other (#039;s in millions) Management Services, Servicing Fees & Other – Total Revenues Detail Total Revenues – Management Services, Servicing Fees & Other Valuation & Other Pass Through Revenues Servicing Fees & Valuation & Advisory (V&A) Management Other Revenues
Slide 9: Leasing & Other Commissions
Leasing & Other Commissions (#039;s in millions) 2Q 2026 Industry U.S. Office Market Leasing Activity YoY1 Total Revenues – Leasing & Other Commissions 70.4% $528 $445 18.6% 39.2% 33.9% 28.7% 28.2% 17.2% 20.9% National $278 18.2% $237 Average: 9.1% -20.2% 2Q 2025 2Q 2026 YTD 2025 YTD 2026 San Miami Man
Slide 10: Capital Markets
Capital Markets (#039;s in millions) Newmark vs. Industry TTM Volumes – % Change YoY Total Revenues – Capital Markets Newmark Gained Share Over the Trailing Twelve Months Investment Mortgage Brokerage & Loan Originations OMSR Sales Debt Placement Related Fees & Revenues U.S. Total U.S. Investment Inter
Slide 11: Strong Balance Sheet & Credit Metrics
Strong Balance Sheet & Credit Metrics No near-term debt maturities AS OF 06/30/2026, UNLESS OTHERWISE STATED ($ IN MILLIONS) Cash and Cash Equivalents $259.7 Credit Metrics as of 06/30/2026 Interest Rate Maturity Senior Notes 7.50% 01/12/2029 $577.3 $619.6 million TTM Adjusted EBITDA Credit Facility
Slide 12: Adjusted Free Cash Flow (AFCF)
Adjusted Free Cash Flow (AFCF) (#039;s in millions) $391.1 $86.3 +71.6% +340.0% $227.9 $125.5 +30.9% $95.9 ($36.0) TTM June 2025 TTM June 2026 YTD 2025 YTD 2026 2Q 2025 2Q 2026 ‒ Adjusted Free Cash Flow (AFCF) is a metric defined as GAAP operating cash flow minus capital expenditures, adjusted for the
Slide 13: Strong Financial Position & Cash Generation Support Our Growth
Strong Financial Position & Cash Generation Support Our Growth Low Risk Strong Financial Profile & Strong Cash Flow Intermediary Credit Metrics – Capital-light model; we do not own real estate – Operate with investment grade credit metrics – Newmark has a history of strong Cash Flow Generation and C
Slide 14: Outlook & Targets
Outlook & Targets Property Type: Other Click here to return to the Table of Contents 14
Slide 15: Reaffirmed Outlook for 2026
Reaffirmed Outlook for 2026 Metric FY 2026 Outlook YoY Change FY 2025 Actual Total Revenues (millions) $3,775 - $3,875 15% - 18% $3,294.0 Adjusted Earnings Per Share $1.87 - $1.98 15% - 22% $1.62 Adjusted Earnings Tax Rate 13% - 15% 11.4% Adjusted EBITDA (millions) $656 - $694 17% - 23% $562.4 ‒ New
Slide 16: GAAP Financial Results
GAAP Financial Results Property Type: Industrial Click here to return to the Table of Contents 16
Slide 17: Condensed Consolidated Statements of Operations
Newmark Group, Inc. Condensed Consolidated Statements of Operations (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) (UNDER GAAP) Three Months Ended June 30, Six Months Ended June 30, Revenues: 2026 2025 2026 2025 Management Services, Servicing Fees and Other $ 351,153 $ 298,397 $ 695,184 $ 582,290
Slide 18: Condensed Consolidated Statements of Operations (continued)
Newmark Group, Inc. Condensed Consolidated Statements of Operations (continued) (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED) (UNDER GAAP) Three Months Ended June 30, Six Months Ended June 30, Per share data: 2026 2025 2026 2025 Basic earnings per share Net income (loss) available to common stoc
Slide 19: Condensed Consolidated Balance Sheets
Newmark Group, Inc. Condensed Consolidated Balance Sheets (IN THOUSANDS) (UNAUDITED) (UNDER GAAP) June 30, 2026 December 31, 2025 Assets Current Assets: Cash and cash equivalents $ 259,700 $ 229,109 Restricted cash and short-term investments 127,701 120,176 Loans held for sale, at fair value 930,484
Slide 20: Summarized Condensed Consolidated Statements of Cash Flows
Newmark Group, Inc. Summarized Condensed Consolidated Statements of Cash Flows (IN THOUSANDS) (UNAUDITED) (UNDER GAAP) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net cash provided by (used in) operating activities $ 362,468 $ (379,742) $ 114,869 $ (559,146) Net cash pr
Slide 21: Additional Information on Newmark
Appendix 1: Additional Information on Newmark Property Type: Various Click here to return to the Table of Contents NEWMARK 21
Slide 22: Newmark Volumes
Newmark Volumes (#039;s in millions) Quarterly Volumes Year-to-Date (YTD) Volumes 2Q 2026 2Q 2025 % Change YTD 2Q 2026 YTD 2Q 2025 % Change Newmark Volumes Fannie Mae $1,295 $1,240 4.4% $2,274 $2,287 (0.6%) Freddie Mac 823 866 (5.0%) 2,488 1,744 42.7% FHA/Ginnie Mae 55 - - 73 24 211.3% Total GSE/FHA Or
Slide 23: Fully Diluted Period-End Share Count Summary
Newmark Group, Inc. Fully Diluted Period-End Share Count Summary As of June 30, 2026 Fully Diluted Shares (millions) Ownership (%) Class A owned by Public 150.3 59.6% 1 Limited partnership units owned by employees 48.3 19.1% Class A owned by employees 8.0 3.2% Other owned by employees 4.3 1.7% Partn
Slide 24: Servicing & Asset Management
Servicing & Asset Management Portfolio Composition as of 06/30/2026 Newmark Fannie Mae/Freddie Mac Portfolio Maturities by Year Special Servicing 0.7% 33.6% Fannie Mae 17.0% 27.9% 21.8% Freddie Mac 13.6% 16.7% $219.3 Billion (1) FHA/Other Limited Servicing 6.5% & Asset Management 62.2% 2026-28 2029-
Slide 25: TTM Cash Generated by the Business to Adjusted Free Cash Flow Bridge
TTM Cash Generated by the Business to Adjusted Free Cash Flow Bridge (#039;s in millions) NMRK’s reported cash flow metrics Items impacting NMRK’s cash flow metrics $406.5 $846.0 $797.6 ($48.4) $602.8 ($163.2) $391.1 ($406.5) Cash Generated Employee Net GSE/FHA GAAP Cash Capex5 Free Cash Net GSE/FHA Ad
Slide 26: Certain Revenue Terms Defined
Certain Revenue Terms Defined Fee and non-fee revenues The Company’s Total Revenues include certain Management Services revenues that equal their related expenses. These revenues represent fully reimbursable compensation and non-compensation costs recorded as part of Newmark's Occupier Solutions ("O
Slide 27: Other Useful Information
Other Useful Information Recent Acquisitions For additional information about the Company's most recent acquisitions, please see press releases titled "einwert Becomes Part of Newmark’s Valuation & Advisory Business in Germany"; "Altus Group Announces the Sale of its Canadian Appraisals Business to
Slide 28: Additional Industry Information
Appendix 2: Additional Industry Information Property Type: Various Click here to return to the Table of Contents NEWMARK 28
Slide 29: Upcoming U.S. Industrial Renewals Imply Strong Forward Leasing Volumes
Upcoming U.S. Industrial Renewals Imply Strong Forward Leasing Volumes Near to mid-term lease expiries should drive industrial leasing activity for the industry U.S. Lease Expiry Volume per Year, in Millions of Square Feet (MSF) 473 459 +1.7BSF 427 389 375 318 321 297 2023 2024 2025 2026 2027 2028 2
Slide 30: Industry U.S. Investment Sales Volumes had the Strongest 1H Since 2022
Industry U.S. Investment Sales Volumes had the Strongest 1H Since 2022 First half volumes are now roughly in-line with 2017 to 2019 averages Industry U.S. Investment Sales Volumes ($’s in Billions) 1,000 1Q 2Q 3Q 4Q 900 800 700 165 373 600 182 500 170 181 116 172 146 173 131 400 231 123 134 140 134
Slide 31: Financial Tables & Reconciliations
Appendix 3: Financial Tables & Reconciliations Property Type: Various Click here to return to the Table of Contents NEWMARK 31
Slide 32: Non-GAAP Financial Measures
Non-GAAP Financial Measures NON-GAAP FINANCIAL MEASURES This document contains non-GAAP financial measures that differ from the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles in the United States ("GAAP"). Non-GAAP financial mea
Slide 33: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) - Charges with respect to preferred units. Any preferred units would not be included in the Company’s fully diluted share count because they cannot be made exchangeable into shares of common stock and are entitled only to a fixed distribution. Preferred units
Slide 34: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) Excluded Compensation-Related Items with Respect to the 2021 Equity Event under Adjusted Earnings and Adjusted EBITDA Newmark does not view the cash GAAP compensation charges related to 2021 Equity Event (the "Impact of the 2021 Equity Event") as being reflect
Slide 35: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) Calculation of Other income (loss) for Adjusted Earnings and Adjusted EBITDA Adjusted Earnings calculations also exclude certain other non-cash, non-dilutive, and/or non-economic items, which may in some periods include: – Unusual, non-ordinary or non-recurrin
Slide 36: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) METHODOLOGY FOR CALCULATING ADJUSTED EARNINGS TAXES Although Adjusted Earnings are calculated on a pre-tax basis, Newmark also reports post-tax Adjusted Earnings to fully diluted shareholders. The Company defines post-tax Adjusted Earnings to fully diluted sha
Slide 37: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) The share count for Adjusted Earnings excludes certain shares and share equivalents expected to be issued in future periods but not yet eligible to receive dividends and/or distributions. Each quarter, the dividend payable to Newmark’s stockholders, if any, is
Slide 38: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) ADJUSTED EBITDA DEFINED Newmark also provides an additional non-GAAP financial performance measure, “Adjusted EBITDA”, which it defines as GAAP “Net income (loss) available to common stockholders”, adjusted for the following items: – Net income (loss) attribut
Slide 39: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) MANAGEMENT RATIONALE FOR USING ADJUSTED EBITDA Newmark’s calculation of Adjusted EBITDA excludes certain items discussed above because they are either non-cash in nature, because the anticipated benefits from the expenditures are not expected to be fully reali
Slide 40: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued) The Company believes that Adjusted Free Cash Flow is useful for investors in evaluating Newmark’s ability to generate cash that it may deploy for various corporate purposes, including but not limited to paying dividends or distributions, investing in organic g
Slide 41: Reconciliation of GAAP Net Income to Adjusted Earnings
Reconciliation of GAAP Net Income Available to Common Stockholders to Adjusted Earnings Before Noncontrolling Interests And Taxes And GAAP Fully Diluted EPS to Post-Tax Adjusted EPS (in Thousands, Except per Share Data) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026
Slide 42: Reconciliation of GAAP Net Income to Adjusted Earnings (continued)
Reconciliation of GAAP Net Income Available to Common Stockholders to Adjusted Earnings Before Noncontrolling Interests And Taxes And GAAP Fully Diluted EPS to Post-Tax Adjusted EPS (continued) (in Thousands, Except per Share Data) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 20
Slide 43: Reconciliation of GAAP Net Income to Adjusted Earnings (continued)
Reconciliation of GAAP Net Income Available to Common Stockholders to Adjusted Earnings Before Noncontrolling Interests And Taxes And GAAP Fully Diluted EPS to Post-Tax Adjusted EPS (continued) (in Millions) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP p
Slide 44: Reconciliation of GAAP Net Income to Adjusted EBITDA
Reconciliation of GAAP Net Income to Adjusted EBITDA (in Thousands, unless noted) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP net income (loss) available to common stockholders $ 19,698 $ 20,819 $ 34,117 $ 12,053 Adjustments: Net income (loss) attributa
Slide 45: Reconciliation of Operating Cash Flow to Free Cash Flow and Adjusted Free Cash Flow
Reconciliation of GAAP Net cash provided by (used in) operating activities to Free Cash Flow and Adjusted Free Cash Flow (in Millions) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, TTM June 30, 2026 2025 2026 2025 2026 2025 Net cash provided by (used in) operating activities(1) $
Slide 46: Other Income; Details of Net Leverage
Other Income (in Millions) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Other items, net — 0.2 — 1.0 Other income (loss), net under GAAP — 0.2 — 1.0 To reconcile from GAAP other income, exclude: Other items, net — (0.2) — (0.9) Other income, net for Pre-tax A
Slide 47: Media and Investor Contacts
MEDIA CONTACT INVESTOR CONTACT Find out more about Newmark For additional insights from Newmark Research, at the following sites: please go to the following websites: Deb Bergman Jason McGruder t 303-260-4307 nmrk.com Shaun French nmrk.com/insights t 212-829-7124 linkedin.com/company/nmrk-cre nmrk.c