Slide 1: Investor Presentation October 2025
Investor Presentation October 2025
Slide 2: Disclaimer
Disclaimer This presentation contains and related discussions may contain “forward-looking statements” within the meaning of U.S. value of MSRs due to valuation assumptions (net of hedges), acquisition-related expenses, amortization of acquired federal securities laws. Forward-looking statements inc
Slide 3: Table of contents
Table of contents 01 Overview | 4-7 02 Massive market opportunity | 8-12 03 Integrated platform | 13-20 04 AI-fueled experiences | 21-25 05 Proven leadership and culture | 26-30 06 Financials | 31-33 Investor Presentation | October 2025 3 of 42
Slide 4: Overview
01 Overview Investor Presentation | October 2025 4 of 42
Slide 5: Rocket is on a mission to Help Everyone Home
Rocket is on a mission to Help Everyone Home. Investor Presentation | October 2025 5 of 42
Slide 6: Pioneering the future of homeownership
Pioneering the future of homeownership Since 1985, we've been committed to innovating on and improving the homebuying experience. Now more than ever, Rocket is poised to reshape the future of homeownership. 40 years #1 #1 of operating mortgage mortgage history lender1 servicer2 $1.9T+ 9.5M cumulativ
Slide 7: Driving our unmatched client service
Driving our unmatched client service Rocket Mortgage has earned 23 J.D. Power awards across mortgage origination and servicing, with 11 years 70+ 98 net promoter score net client retention rate as the top-ranked mortgage servicer. We've built our reputation for exceptional service by delighting mill
Slide 8: Massive market opportunity
02 Massive market opportunity Investor Presentation | October 2025 8 of 42
Slide 9: A large and fragmented market
A large and fragmented Mortgage market origination market The opportunity: top 10 $2T 3 players hold only 23% of mortgage originations.4 The homeownership market represents a $5T 2 Total addressable significant opportunity homeownership market that Rocket is uniquely equipped to capture. $29T 1 Gros
Slide 10: Owning a home is the cornerstone of the American dream
Owning a home is the 50% cornerstone of of renters today feel they are the American “rentburdened.”1 dream 92% of Americans believe that homeownership is an essential part of Yet, many feel intimidated by the process the American dream.2 and believe this dream is out of reach. Rocket's mission is to
Slide 11: Homebuying is complicated, stressful and expensive
Homebuying Home is complicated, search stressful and Listing Title expensive agent fee $12K Sell !? Title and closing premium $1K We are leveraging our strengths to transform the experience into one that is modern, seamless and more affordable. Mortgage Buyer’s agent fee Buy Financing gain on sale $
Slide 12: Rocket: a category of one
Rocket: a category of one With our AI-powered, Market share of category leaders vertically integrated homeownership platform, Mortgage The potential Rocket is building a category of one. Retail brokerage Digital commerce Tax prep Online travel 10% 30% 50% Source: Equity Research. Investor Presentati
Slide 13: Integrated platform
03 Integrated platform Investor Presentation | October 2025 13 of 42
Slide 14: Redefining homeownership
Redefining homeownership The combination of Redfin, Rocket and Mr. Cooper help more Americans find, finance and own their journey all while offering our clients more support, less friction and greater confidence. Find Finance Own Investor Presentation | October 2025 14 of 42
Slide 15: Redfin powered by Rocket
Redfin powered by Rocket Together, we are meeting clients at key decisions in their journey to provide a seamless experience from search to financing – fundamentally changing the way homes are bought, sold and financed. Brand alignment Bundled offering Integrated digital experience Rocket Preferred
Slide 16: Mr. Cooper powered by Rocket
Mr. Cooper Brand alignment Integrated digital experience powered by Rocket Mortgage Together, we’re transforming homeownership through award-winning service and unmatched client recapture, earning the ability to be a lender for life. From financing to servicing, we’re building lasting relationships,
Slide 17: Industry-leading recapture rates
Industry-leading recapture rates Our client-first mentality fuels our recapture rates – clients return to Our recapture Rocket Mortgage at three times the 3x rate is more than industry average. 83% We aim to delight every client, from the very first interaction and every time after, earning the righ
Slide 18: Driven by a seamless origination and servicing experience
Driven by a seamless origination and servicing experience Origination Servicing 62M+ monthly visitors 9.5M servicing clients High recapture drives Recapture enables repeat origination. $0 client acquisition cost. Investor Presentation | October 2025 18 of 42
Slide 19: Executing continuous product innovation
Executing continuous product innovation Our ecosystem empowers us to rapidly launch products that address their evolving needs — a crucial advantage AVM and Expansion for Seconds in today’s dynamic housing market. BorrowerSmart Super FHA MIP Access Jumbo Bridge Reductions Loan Manufactured Homes New
Slide 20: Trusted lender for life
Trusted lender for life An end-to-end platform… …every step of the client journey. Year 1 Purchase first home Year 3 Refinance into lower rate Home search Year 5 Home financing Purchase bigger home Title and closing Year 10 Cash out equity for kitchen remodel Loan servicing Investor Presentation | O
Slide 21: AI-fueled experiences
04 AI-fueled experiences Investor Presentation | October 2025 21 of 42
Slide 22: Our data advantage will fuel efficiency, personalization and scale
Our data advantage will fuel efficiency, personalization 10 PB and scale Rocket is built for the AI era. We have access to over 30PB of data, which drive personalized customer experiences and unlock capacity. 30 petabytes 4 PB 16 PB Investor Presentation | October 2025 22 of 42
Slide 23: $500M invested in AI powers our 200+ proprietary models
$500M invested in AI powers our 200+ proprietary models For team members and partners Pipeline manager Purchase agreement review Underwriting agent Ranks banker leads in real time, Simplifies and automates Automates broker underwriting prioritizing who to call next manual tasks for efficiency for fa
Slide 24: AI and automation driving higher capacity in mortgage underwriting
AI and automation driving higher capacity in mortgage underwriting 1.1M+ hours saved annually Increasing levels of AI and automation to supercharge operations team members 0 Document Document data Income Asset Property classification extraction verification verification verification 75% automated 80
Slide 25: Our proprietary platform
Our proprietary platform Front-end Home Mortgage Mortgage 3rd party Personal client experience search origination servicing origination finance Business Home Mortgage Pricing and Mortgage Partnership Personal money capabilities search origination capital markets servicing capabilities management App
Slide 26: Proven leadership and culture
05 Proven leadership and culture Investor Presentation | October 2025 26 of 42
Slide 27: Our unrivaled leadership team
Our unrivaled leadership Varun Krishna Chief Executive Officer, Rocket Companies, Bill Emerson President, Rocket Companies Jay Bray President and Chief Executive Officer, Rocket Mortgage Glenn Kelman Chief Executive Officer, Redfin team Rocket Companies is driven by experienced leaders – this collec
Slide 28: Culture is our foundation
Culture is our foundation We are grounded in 16 ISM: You’ll see it when you believe it. ISM: Every client. Every time. philosophies, known as “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 29: Investor Presentation | October 2025
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Investor Presentation | October 2025 30 of 42
Slide 31: Financials
06 Financials Investor Presentation | October 2025 31 of 42
Slide 32: Financial highlights
Financial highlights $M Adjusted Revenue $M Adjusted EBITDA $1,783 $349 $286 $1,340 $1,323 $1,296 $1,228 $1,187 $1,163 $225 $885 $174 $177 $169 $172 35% 1 34% $55 11% 9% Q4’23 Q4’24 Q1’24 Q1’25 Q2’24 Q2’25 Q3’24 Q3’251 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’251 Gain on sale margin % EBITDA mar
Slide 33: Strong liquidity position
Strong liquidity position Cash and cash Discretionary Undrawn mortgage Undrawn lines equivalents1 self-funding servicing rights facilities of credit $5.8B $0.4B $2.0B $1.1B $9.3B total $6.2B $3.1B available cash position available on lines of credit Note: 1) In June 2025, Rocket Companies issued $4.
Slide 34: Appendix
Appendix Investor Presentation | October 2025 34 of 42
Slide 35: 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 36: Financial highlights
Financial highlights Note: See endnote (1) in Appendix for 2024 2025 non-GAAP reconciliation; see endnote (2) for Adjusted revenue, Adjusted EBITDA, and Adjusted net income Q3 Q4 Q1 Q2 Q33 Q4E 1,2 definitions. Certain figures throughout this document may not foot due Adjusted revenue $1,323 $1,187 $
Slide 37: Endnotes: Adjusted EBITDA reconciliation
Endnotes1 2024 2025 Q3 Q4 Q1 Q2 Q3 9 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income (loss) ($481) $649 ($212) $34 ($124) Interest and amortization expense on non-funding debt 1 39 38 38 45 111 Provision for (benefit from) income taxes (16) 26 (11) (10) (60) Depreciation and a
Slide 38: Endnotes: Adjusted revenue reconciliation
Endnotes1 2024 2025 Q3 Q4 Q1 Q2 Q3 2 ($ in M) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Total revenue, net $647 $1,769 $1,037 $1,360 $1,605 Change in fair value of MSRs due to valuation assumptions 676 (582) 259 (20) 177 (net of hedges) 1 Adjusted revenue $1,323 $1,187 $1,296 $1,34
Slide 39: Endnotes: Adjusted net income reconciliation
Endnotes1 1) Reflects net income (loss) 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. Class D common 2024 2025 shares were exchanged and retired on June 30, 2025,
Slide 40: Pro forma share count
Pro forma share count + + + 2024 10K Post RDFN Post RDFN and filing close2 COOP close2 Class A 7% Class A 12% Class A 35% Class D 93% Class L1 88% Class L1 65% Total outstanding Total estimated Total estimated 2.00 B 2.11 B 2.83 B shares fully diluted shares fully diluted shares Note: Total outstand
Slide 41: Endnotes: non-GAAP definitions
Endnotes1 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 revenues net of the change in fair value of mortgage servicing rights (“M
Slide 42: Thank you.
Thank you. Investor Presentation | October 2025