Real Matters, Inc. · TSX:REAL
Real Matters — Shareholder Meeting (February 2025)
12 slides from Real Matters's shareholder meeting presentation, Feb 6, 2025
Slide 1: Annual Meeting of Shareholders
ANNUAL MEETING OF SHAREHOLDERS February 6, 2025 (all amounts are expressed in U.S. dollars unless otherwise stated)
Slide 2: Business of the Meeting
BUSINESS OF THE MEETING Jason Smith Board Chair
Slide 3: Agenda
Agenda • Scrutineer’s Report on Attendance • Mailing of Materials • Notice of Meeting • Presentation of Consolidated Financial Statements • Election of Directors • Appointment of Auditor • Termination of Meeting • Management Presentation • Q&A © Copyright 2024 Real Matters. All rights reserved. 3
Slide 4: Management Presentation
MANAGEMENT PRESENTATION Brian Lang Chief Executive Officer
Slide 5: 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 6: Fiscal 2024 Performance Highlights
Fiscal 2024 Performance Highlights $172.7M Strong operating leverage Consolidated Net Revenue1 increased by $3.3M year-over-year to $46.4M and Adjusted EBITDA1 was up $4.2M to $1.9M Consolidated Revenues 87% conversion of Net Revenue1 to Adjusted EBITDA1 in U.S. Appraisal 100% conversion of Net Reve
Slide 7: Pent-Up Demand Continues to Build
Pent-Up Demand Continues to Build 8.8 million mortgages outstanding with interest rate above 6% U.S. Outstanding Mortgages by Interest Rate (thousands of loans) 60% of consumers plan to refinance in next 2 years2 17,340 34% 10,895 9,258 8,798 40% 21% 4,859 18% 17% of future buyers 9% plan to purchas
Slide 8: Real Matters: 2020-2025+ Strategic Roadmap
Real Matters: 2020-2025+ Strategic Roadmap Build Expand Diversify Leadership Position in U.S. Appraisal Market Share in U.S. Title Through Property Data Monetization • Leverage performance • Leverage existing U.S. • Unique data assets track record to drive Appraisal client relationships increased ma
Slide 9: Target Operating Model
Target Operating Model U.S. Appraisal U.S. Title Assumption Assumption KPI F20 F21 F22 F23 F24 KPI F20 F21 F22 F23 F24 /Target /Target Real Matters Real Matters annual annual mortgage 550,000- mortgage 120,000- 469,299 511,591 331,758 141,690 150,675 118,388 129,680 31,537 3,312 3,431 origination 62
Slide 10: Shareholder Q&A
SHAREHOLDER Q&A Jason Smith Garry Foster Brian Lang Rodrigo Pinto Board Chair Board Chair (incoming) Chief Executive Officer Chief Financial Officer
Slide 11: 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 12: 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