Slide 1: Investor Presentation August 2024
Investor Presentation A UGUS T 2 0 2 4
Slide 2: Disclaimer
DISCLAIMER This presentation contains and related discussions may contain “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements include information concerning possible or assumed future results of operations, Rocket Companies, Inc.’s (the ”Compan
Slide 3: Overview
Overview
Slide 4: Help Everyone Home
FUELED BY ARTIFICIAL INTELLIGENCE, ROCKET IS ON A MISSION TO HELP EVERYONE HOME. At Rocket, we’re leveraging the power of generative AI across our business. Much of the visual content in this presentation was produced by AI, further amplifying human creativity and innovation. 4 of 31
Slide 5: Building a FinTech Giant $1.7T+
Building a FinTech Giant $1.7T+ T R A N SA C T I ON VOLUME SI NCE I NCEP T I ON 39 #1 #1 #2 YEAR RETAIL REFINANCE PURCHASE OPERATING LENDER LENDER LENDER1 HISTORY Source: Inside Mortgage Finance 3M 2024 as of June 2024. (1) Excludes correspondent lending. 5 5ofof31 ##
Slide 6: Comprehensive Homebuying Ecosystem
COMPREHENSIVE HOMEBUYING ECOSYSTEM Rocket delivers seamless, end-to-end client experiences across the homeownership journey, from home search and home financing to title, closing, and servicing. HOME HOME TITLE AND LOAN SEARCH FINANCING CLOSING SERVICING 6 of 31
Slide 7: Investment Highlights Summary
INVESTMENT HIGHLIGHTS SUMMARY Poised to 1 Massive Fragmented Markets Redefine and 2 Technology and Data Advantage Lead the Homebuying 3 Scaled Growth and Profitability Category through AI 4 Superior Client Experience 5 Proven Leadership and Culture 7 of 31
Slide 8: Massive Fragmented Markets
1 Massive Fragmented Markets
Slide 9: 92% of Americans
92% OF AMERICANS view homeownership as a vital part of the American dream. Source: Fannie Mae Consumer Mortgage Understanding Study 2023 9 of 31
Slide 10: Massive Market Opportunity
MASSIVE MARKET OPPORTUNITY Rocket operates in some of the largest segments of the economy; industries that are highly fragmented and ripe for disruption. $27T1 MORTGAGE GDP REAL ESTATE $5T2 FINANCIAL SERVICES HIGHLY $2T 3 FRAGMENTED MARKET Top 10 players Total comprise Addressable Mortgage only 24%
Slide 11: Digitally Seamless Experiences Are an Expectation
DIGITALLY SEAMLESS EXPERIENCES ARE AN EXPECTATION The younger demographic currently Current US Population By Age Cohort (M) entering the homebuying market demands digitally seamless experiences. 23.5 22.4 21.6 21.7 75% 20.4 19.9 of First Time Home Buyers were Younger Millennials. 73% of Gen Z and Mi
Slide 12: Rocket Is Positioned to Lead Our Industry
ROCKET IS POSITIONED TO LEAD OUR INDUSTRY The homebuying industry is Market Share of Category Leaders large, fragmented and ripe for disruption. Similar large industries have modernized THE POTENTIAL and moved online earlier. MORTGAGE RETAIL BROKERAGE E-COMMERCE TAX PREP ROCKET AIMS TO REVOLUTIONIZE
Slide 13: Technology and Data Advantage
Technology and Data Advantage
Slide 14: Strong Data Foundation
STRONG DATA FOUNDATION Backed by decades of investment in technology and a robust data foundation, Rocket has already positioned itself as the industry leader in AI. PETABYTES BILLION MILLION OF AI-GENERATED CALL LOGS DATA CUSTOMER INTERACTIONS ANNUALLY AND DECISIONS 14 of 31
Slide 15: AI-Powered Digital Experiences
AI-POWERED DIGITAL EXPERIENCES Our proprietary patented AI platform powers our front-facing client interactions and back-end processing. EFFICIENCY Supercharged team members with more capacity to connect with clients and perform higher value work Bankers using AI-powered chat are handling multiple c
Slide 16: Scaled Growth and Profitability
Scaled Growth and Profitability
Slide 17: Long Term Mortgage Purchase and Refinance Market Share Gains
LONG TERM MORTGAGE PURCHASE AND REFINANCE MARKET SHARE GAINS $400 Rocket Originations ($ in B) Refinance Market Share Purchase Market Share 13% 12.1% $350 10.8% 11.0% 11% 10.1% 9.6% 9.2% 9.3% 9.3% $300 9% 7.7% 7.5% $250 7% 6.2% $200 4.5% 5% $150 3.7% 3.3% 3.2% 2.9% 3.0% 2.6% 2.4% 3% 2.3% 2.1% $100 1
Slide 18: Poised to be the Leader in the Homeownership Category
Poised to be the INDUSTRY-BEST CLIENT EXPERIENCE Leader in the MASSIVE DATA SCALABLE FOUNDATION REVENUE GROWTH Homeownership ACTIVE AI DEPLOYMENT Category MARKET SHARE GROWTH We aim to redefine the homebuying experience through AI, and deliver scaled market share, OPERATING LEVERAGE revenue and prof
Slide 19: Our Ecosystem Addresses the Full Homebuying Value Chain
OUR ECOSYSTEM ADDRESSES THE FULL HOMEBUYING VALUE CHAIN Our end-to-end ecosystem serves our clients throughout their lives as homeowners. REPEAT TRANSACTIONS $13,500 + $3,000 + $1,600 + = $18,000+ 450 bps $300K 1% Real Estate Title and Refinance, Home Equity Loans, Mortgage1 Agent Commission Closing
Slide 20: Servicing: Strategic Asset Focused on Client Lifetime Value
SERVICING: STRATEGIC ASSET FOCUSED ON CLIENT LIFETIME VALUE $535B $22B 97% SERVICED UPB ADDED NET CLIENT UPB1 THROUGH MSR RETENTION ACQ YTD RATE3 2.6M $7.2B $1.4B LOANS MSR FAIR RECURRING SERVICED1 VALUE SERVICING FEE INCOME2 Note: Data as of quarter end June 30, 2024 (1) Includes subservicing (2) O
Slide 21: Financial Highlights
FINANCIAL HIGHLIGHTS $M ADJUSTED REVENUE $M ADJUSTED EBITDA $1,228 $1,163 $225 $174 $1,002 $1,002 $888 $885 $882 $73 $55 $18 $683 13% 30% 32% 23% ($79) ($204) Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 EBITDA (30%) (9%) 2% 7% 6% 15% 18% MARGIN % Q3’22 Q3’23 Q4’22 Q4’23 Q1’23 Q1’24 Q2’23 Q2’24 $B NET
Slide 22: Superior Client Experience
Superior Client Experience
Slide 23: Delivering a Modern Homebuying Experience
Delivering a SPEED TO CERTAINTY Modern Homebuying v Experience Rocket Experience HYPER- 24-7 “A seamless digital experience PERSONALIZED AVAILABILITY v v is an expectation for consumers, not a nice to have.” J.D. POWER1 23 of 31 (1) Origination 2022 Measurement Analysis
Slide 24: Unmatched Client Service
UNMATCHED CLIENT SERVICE Rocket Mortgage has earned 22 J.D. Power awards across mortgage origination and servicing. 76 Millions of clients have had positive experiences with Rocket, generating substantial brand equity and a significant competitive advantage. Net Promoter Score1 Most Awarded for Mort
Slide 25: Proven Leadership and Culture
Proven Leadership and Culture
Slide 26: Unrivaled Leadership Team
UNRIVALED LEADERSHIP TEAM DEDICATED TO REVOLUTIONIZING THE HOMEBUYING EXPERIENCE VARUN BILL BRIAN BILL HEATHER KRISHNA EMERSON BROWN BANFIELD LOVIER Chief Executive Officer, Rocket President, Chief Financial Officer & Chief Business Officer, Chief Operating Officer, Companies & Rocket Mortgage Rocke
Slide 27: Culture Is Our Foundation
Culture Is Our Foundation Obsessed with finding a better way. Innovation is rewarded. Execution is worshipped. Our culture is based on 16 updated philosophies that we call “ISMs.” Each one shares how we can Launch and learn. succeed and what we value. Every client. Every time. Do the right thing. 27
Slide 28: Love Our Team Members
LOVE OUR TEAM MEMBERS Our team members put the ISMs into action every day. The result is an empowered and passionate team aligned toward a common mission. 2015 2018 2019 2021 2020 - 2023 2022 2003 - 2024 #1 Best Workplace The Best Best WorkplacesTM #3 America’s Best Companies #6 Best Large 100 Best
Slide 29: For More Than Profit
FOR MORE THAN PROFIT Fueled by AI technology and our extraordinary culture, Rocket Team Members are 2023 on a mission to create an inclusive environment that will Help Everyone Home. ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT 172 K+ 1M+ ESG Pounds of E-Waste Volunteer Hours Recycled for Redistribut
Slide 30: 2024 All Company Meeting
2024 ALL COMPANY MEETING 30 of 31
Slide 31: Financial Highlights
FINANCIAL HIGHLIGHTS(1) ($ in M) 2022 2023 Q2’23 Q1’24 Q2’24 Q3’24E1 Adjusted Revenue $4,628 $3,770 $1,002 $1,163 $1,228 $1,150 - $1,300 YoY % (63%) (19%) (11)% 32% 23% QoQ % N/A N/A 14% 31% 6% Adjusted EBITDA $59 $67 $18 $174 $225 % Margin 1% 2% 2% 15% 18% Adjusted Net Income (Loss) ($137) ($143) (
Slide 32: Appendix
Appendix
Slide 33: Driving Transformation of the Homebuying Industry
DRIVING TRANSFORMATION OF THE HOMEBUYING INDUSTRY Rock Financial founded Mortgage in a Box released, In a groundbreaking email, RockLoans.com launched, by Dan Gilbert, later enabling mortgage applications Dan Gilbert pledges full catapulting the Company to to be known as to be filled out and mailed
Slide 34: Strong Liquidity Position
STRONG LIQUIDITY POSITION1 Rocket Companies Cash and Cash Equivalents Undrawn Mortgage Servicing Rights Facilities Discretionary Self-Funding Undrawn Lines of Credit $1,309 M $1,898 M $2,000 M $3,350 M $8.6 B TOTAL $3.2 B $5.4 B AVAILABLE AVAILABLE ON CASH POSITION LINES OF CREDIT (1) As of June 30,
Slide 35: MSR Portfolio UPB
MSR PORTFOLIO UPB Total Serviced UPB ($ in B) $552 $546 $538 $535 $535 $521 $531 $525 $507 $504 $506 $509 $511 $467 $400 $410 $378 $344 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Note: Servicing UPB remains unchanged following Excess I
Slide 36: Endnotes (1)
ENDNOTES (1) Three Months Ended June 30, 2024 2023 ($ in M) (Unaudited) NET INCOME $178 $139 Interest And Amortization Expense On Non-funding Debt 38 38 Provision for (Benefit From) Income Taxes 14 (1) Depreciation And Amortization 28 25 Share-based Compensation Expense 39 51 Change In Fair Value Of
Slide 37: Endnotes (1)
ENDNOTES (1) Three Months Ended June 30, 2024 2023 ($ in M) (Unaudited) TOTAL REVENUE, NET $1,301 $1,236 Change In Fair Value Of MSRs Due To Valuation Assumptions, Net Of Hedges (a) (73) (235) ADJUSTED REVENUE $1,228 $1,002 (a) Reflects changes in market interest rates and assumptions, including dis
Slide 38: Endnotes (1)
ENDNOTES (1) (a) Reflects net income (loss) to Class A common Three Months Ended June 30, stock from pro forma exchange and conversion of corresponding shares of our Class D common shares held by non-controlling interest holders 2024 2023 as of June 30, 2024 and 2023. (b) Rocket Companies is subject
Slide 39: Endnotes
ENDNOTES (2) “Adjusted EBITDA Margin” calculated as Adjusted EBITDA divided by Adjusted Revenue. (3) We define "net client retention rate" as the number of clients that were active at the beginning of a period and which remain active at the end of the period, divided by the number of clients that we
Slide 40: Rocket Companies
@) ROCKET Companies