Financial Data and Key Metrics Changes - For the fourth quarter, revenue was $262 million, a significant decrease from $495 million in the same quarter last year, reflecting the lowest revenue for the year [46][63] - Full year revenue reached a record high of $1.3 billion, slightly up from the previous year [63] - Adjusted EBITDA for the fourth quarter was $14 million, down from $88.2 million year-over-year [66] - Earnings per diluted share for the fourth quarter were $0.20, compared to $1.53 in the prior year [66] - The effective tax rate for the quarter was 21.4%, down from 25.8% in the previous year [66] Business Line Data and Key Metrics Changes - Real estate brokerage revenue for Q4 was $236 million, accounting for 90% of total revenue, with a transaction volume of $13 billion, a year-over-year decrease of 54% [29] - Private Client market segment revenue was down 41%, while middle market and larger transaction revenues fell by 47% and 63%, respectively [58] - Financing division revenue for Q4 was $22 million, down from $34 million in the prior year, with refinancing fees accounting for 45% of loan originations [64] Market Data and Key Metrics Changes - Overall sales in the market dropped by an estimated 57% during Q4, marking the lowest fourth quarter sales volume since 2011 [5] - Total U.S. commercial property sales declined by 25% last year, while the company's brokerage transactions were off by only 6% [75] Company Strategy and Development Direction - The company is focused on maintaining its presence at key industry events and providing production support to its sales force during the downturn [60] - Strategic acquisitions remain a top capital allocation strategy, with the company positioned to take advantage of market dislocation [79] - The company aims to return to organic growth by renewing its cycle of sourcing, hiring, and training new professionals [11] Management's Comments on Operating Environment and Future Outlook - Management noted that the current market headwinds are likely to persist in the near term, but they expect factors such as the end of the Fed tightening cycle to support a market recovery [50][67] - The company is cautiously optimistic about improving market conditions starting in the second half of the year [67] - Management emphasized the importance of navigating near-term challenges while sustaining a long-term mindset [48] Other Important Information - The company returned $32 million of capital to shareholders during the quarter, including $10 million in dividends and $22 million in share repurchases [32] - The company has a strong balance sheet with no debt and $558 million in cash and marketable securities [32] Q&A Session Summary Question: Are small brokerages opening up to the idea of a sale due to the current environment? - Management indicated that there are ongoing conversations with potential targets and that pricing expectations for M&A activity are moderating [86] Question: How should we think about headcount levels at MMI as we move throughout 2023? - Management highlighted that they have successfully attracted experienced professionals, which has offset revenue production gaps, and they plan to continue this strategy [72] Question: Can you elaborate on the increase in other revenue? - Management explained that the increase in other revenue was primarily driven by interest income on investments, which has risen due to higher interest rates [40]

| --- | --- | |------------------------------------------------------------------|-------| | | | | | | | FOURTH QUARTER 2022 EARNINGS CONFERENCE CALL - February 17, 2023 | | | | | | | | | | | | | | | | | | | | | | | | | | FORWARD-LOOKING STATEMENTS This release includes forward-looking statements, including the Company's business outlook for 2023, the anticipation of further interest rate increases and inflation, the execution of our capital return program, including the initiation of a semi-annual dividend ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 __________________________ FORM 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________to___________ Commission File Number: 001-36155 __________________________ ...

THIRD QUARTER 2022 EARNINGS CONFERENCE CALL - NOVEMBER 4, 2022 1 FORWARD-LOOKING STATEMENTS Certain statements in this presentation are "forward-looking statements" within the meaning of the federal securities laws, including our business outlook for 2022, the potential continuing impact of the COVID-19 pandemic, and expectations for changes (or fluctuations) in market share growth. Statements about our beliefs and expectations and statements containing the words "may," "could," "would," "should," "believe, ...

Financial Data and Key Metrics Changes - The company reported record second quarter results with nearly $400 million in revenue, a 39% increase year-over-year, and net income of $42 million, up 34% from the same period in 2021 [7][10] - For the first half of the year, revenue grew by 53% and net income increased by 61% compared to the previous year [10] - Real estate brokerage commissions accounted for 90% of total revenues, amounting to $355 million, which is a 40% increase year-over-year [18] Business Line Data and Key Metrics Changes - The Private Client business increased by 33%, contributing $210 million to revenue [19] - Middle Market and Larger Transactions together accounted for 39% of total brokerage revenue, totaling $138 million, reflecting a 59% increase [19] - The financing division, MMCC, generated $37 million in revenue, a 30% year-over-year increase, with financing volume reaching a record $4.5 billion, up 56% [19][20] Market Data and Key Metrics Changes - Despite a 15% decline in total U.S. market sales by transaction count, the company's brokerage transactions increased by 15% in the second quarter [10] - The average deal size rose to $7.4 million per transaction, up from $5.8 million a year ago, driven by larger deals [18] Company Strategy and Development Direction - The company is focused on strategic growth initiatives, including technology upgrades, marketing campaigns, and client outreach, which have contributed to productivity gains [8] - The management team is committed to increasing headcount through new hiring initiatives and expanded development programs, emphasizing the importance of organic growth [12][39] - The company remains optimistic about long-term growth, citing healthy real estate fundamentals and the attractiveness of real estate as a hedge against inflation [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted that expectations of additional rate hikes and tightening financial conditions may lead to further deceleration in trading volumes [12] - The company is well-positioned to assist investors in formulating and executing strategies based on their specific needs amid market challenges [13] - The management expressed confidence in the strength of the financial system and the company's balance sheet, which supports ongoing investments and shareholder returns [17][23] Other Important Information - The company announced its first stock repurchase plan of up to $70 million and declared a $0.25 per share dividend [22][17] - Total operating expenses for the quarter were $339 million, a 39% increase year-over-year, in line with revenue growth [20] Q&A Session Summary Question: Share buyback announcement and balancing growth with repurchases - Management discussed the balance between acquisitions and returning capital to shareholders, emphasizing that acquisitions remain a priority while initiating a stock buyback program [28][30] Question: Activity on share repurchases in the second half - Management indicated plans to be active in share repurchases, depending on market conditions and opportunities [32][33] Question: Increase in average deal size in financing segment - The increase is attributed to MMCC's maturation as a finance intermediary and the addition of experienced talent through acquisitions [35][36] Question: Decline in broker count and future concerns - Management acknowledged the decline but emphasized the importance of returning to net positive growth in the sales force through organic growth initiatives [38][39] Question: Acquisition plans for fiscal 2022 - The company has an active pipeline for acquisitions in both financing and brokerage, with ongoing discussions despite challenging market conditions [42][44]

Table of Contents For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 Commission File Number: 001-36155 OR MARCUS & MILLICHAP, INC. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 35-2478370 (State or Other Jurisdiction of Incorporation or Organization ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36155 MARCUS & MILLICHAP, INC. (Exact name of registrant as specified in its Charter) Delaware 35-2478370 (Stat ...

FIRST QUARTER 2022 EARNINGS CONFERENCE CALL – MAY 6, 2022 FORWARD-LOOKING STATEMENTS 2 Certain statements in this presentation are "forward-looking statements" within the meaning of the federal securities laws, including our business outlook for 2022, the potential continuing impact of the COVID-19 pandemic, and expectations for changes (or fluctuations) in market share growth. Statements about our beliefs and expectations and statements containing the words "may," "could," "would," "should," "believe," "ex ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-36155 MARCUS & MILLICHAP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...

Marcus & Millichap, Inc. (NYSE:MMI) Q4 2021 Earnings Conference Call February 18, 2022 10:30 AM ET Company Participants Tom Shearer - Senior Vice President, Investor Relations Hessam Nadji - President and Chief Executive Officer Steve DeGennaro - Executive Vice President and Chief Financial Officer Conference Call Participants Blaine Heck - Wells Fargo Operator Greeting. Welcome to the Marcus & Millichap's Fourth Quarter 2021 Earnings Conference Call. [Operator Instructions] Please note this conference is ...