Real Matters, Inc. · TSX:REAL
Real Matters — Investor Presentation (August 2026)
14 slides from Real Matters's investor presentation, August 2026
Slide 1: Company Overview
COMPANY OVERVIEW August 2026 (all amounts are expressed in U.S. dollars, excluding per share amounts and unless otherwise stated)
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Words such as “aim”, “could”, “forecast”, “target”, “may”, “might”, “will”, “would”, “expect”, “anticipate”, “estimate”, “intend”,
Slide 3: At A Glance
We Empower Incredibly Smart Decisions At A Glance TSX: REAL What We Do Industry We Operate In Proprietary network-management platform with tens of U.S. and Canadian residential mortgage markets – spanning thousands of independent field professionals purchase and refinance origination, home equity, d
Slide 4: Our Core Competency: Network Management
Our Core Competency: Network Management Increased Market Share High-Performing Field Professionals Better Performance • Real-time data and analytics • Faster turnaround time • Local network-based ecosystems • Lower defect rate • Competition through transparency • Consistent performance • Better outl
Slide 5: Target Operating Model: U.S. Appraisal
Target Operating Model: U.S. Appraisal KPI F21 F22 F23 F24 F25 Assumption How our Platform Scales /Target (illustrative per unit returns) Real Matters annual mortgage origination 511,591 331,758 141,690 150,675 134,667 550,000-620,000 $625 $625 transaction volumes Net Revenue1 21.5% 22.1% 27.4% 27.6
Slide 6: Target Operating Model: U.S. Title
Target Operating Model: U.S. Title KPI F21 F22 F23 F24 F25 Assumption/ How our Platform Scales Target (illustrative per unit returns) Real Matters annual mortgage origination 129,680 31,537 3,312 3,431 4,521 120,000-150,000 $1,000 $1,000 transaction volumes lower $470 transaction $375 costs from Net
Slide 7: U.S. Mortgage Market
U.S. Mortgage Market Lowest mortgage origination volumes in 24 years U.S. Mortgage Origination Volumes by Calendar Year (excludes default, REO and home equity loans) Purchase Refinance Avg 30yr mortgage rate 22.5 20.7 0.08 20.0 17.5 0.07 15.4 Average of 7.3 million transactions Number of loans in mi
Slide 8: 28% of Mortgages Have Rates >6%
28% of Mortgages Have Rates >6% Current U.S. Outstanding Mortgages by Interest Rate 13M+ mortgages with rates >6.0% 24% 18% 33% 12% 10% 9% 7% 6% 5% 4% 3% 2% <= 2.5% 2.6-3.0% 3.1-3.5% 3.6-4.0% 4.1-4.5% 4.6-5.0% 5.1-5.5% 5.6-6.0% 6.1-6.5% 6.6-7.0% >7.0% Source: Barclays research, Freddie Mac. © Copyri
Slide 9: Q3 2026 Performance Summary
Q3 2026 Performance Summary • Solid YoY consolidated revenue growth and operating leverage: revenue +13% YoY and positive consolidated Adjusted EBITDA1 +117% – 5th consecutive quarter of positive Adjusted EBITDA1 • Growing client base: 10 new clients – including 2 channels with a new Tier 1 lender i
Slide 10: Q3 2026 Financial Highlights
Q3 2026 Financial Highlights U.S. Appraisal $51.5M • Revenues of $37.3M +14% YoY on market share gains and high single digit market growth (origination volumes up 8% YoY), growth in home equity and other revenues • Net Revenue1 margin of 24.6% -160bps YoY due to geography, clients and product mix Co
Slide 11: Q3 2026 and Fiscal 2026 Financial Highlights
Q3 2026 and Fiscal 2026 Financial Highlights QoQ YoY YoY millions of U.S. dollars Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 YTD 2026 YTD 2025 Change Change Change Revenues U.S. Appraisal $37.3 $33.7 $32.9 $33.1 $32.6 11% 14% $103.8 $88.6 17% U.S. Title 4.7 5.1 4.4 2.9 2.8 -9% 70% 14.3 7.6 89% Canada 9
Slide 12: Q3 2026 and Fiscal 2026 Non-GAAP Measures
Q3 2026 and Fiscal 2026 Non-GAAP Measures QoQ YoY YoY millions of U.S. dollars Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 YTD 2026 YTD 2025 Change Change Change 1 Net Revenue U.S. Appraisal $9.2 $8.6 $8.4 $8.4 $8.5 6% 7% $26.1 $23.6 11% 1 Net Revenue Margin 24.6% 25.6% 25.4% 25.5% 26.2% 25.2% 26.6% U.S
Slide 13: Appendix A – Non-GAAP Measures
Appendix A – Non-GAAP Measures Net Revenue represents the difference between revenues and transaction costs. Net Revenue margin is calculated as Net Revenue divided by Revenues. The reconciling items between net income or loss and Net Revenue for the periods present below were as follows: Quarter en
Slide 14: Appendix A – Non-GAAP Measures
Appendix A – Non-GAAP Measures Adjusted EBITDA represents net income or loss before stock-based compensation expense, amortization, restructuring expenses, interest expense, interest income, net foreign exchange gain or loss, gain or loss on fair value of derivatives and income tax expense or recove