rithm = Q2 2023 Quarterly Supplement Rithm Capital Quarterly Supplement Q2 2023 Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the "Presentation." NO OFFER; NO RELIANCE. This Presentation is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and may not be re ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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: 001-35777 Rithm Capital Corp. (Exact name of registrant as specified in its charter) | Delaware | | 45-3449660 ...

Financial Data and Key Metrics Changes - GAAP net income for the quarter is $68.9 million or $0.14 per diluted share, with core earnings at $171.1 million or $0.35 per diluted share [19] - Book value decreased from $12 to $11.67, reflecting a $0.23 dilution from warrant exercise, indicating stability despite market volatility [19][28] - Cash and liquidity at the end of the quarter is $1.6 billion, total equity is $6.9 billion [19] Business Line Data and Key Metrics Changes - The origination segment decreased by $11.7 million due to seasonality, with March breakeven [1] - The mortgage company represents 75% of Rithm's full MSR portfolio, with newly originated MSRs at 6.37% [40] - The Genesis business is expected to yield unlevered returns of 10% to 12%, with potential returns of 20% to 30% [32] Market Data and Key Metrics Changes - The company is seeing increased competition in the retail channel due to reduced inventory in the market [8] - The overall market for MSRs is viewed as attractive, with expected returns of 15% to 20% [2][6] - Delinquencies remain extremely low, indicating a healthy portfolio [31][23] Company Strategy and Development Direction - The company aims to transition into an alternative asset manager, evaluating alternatives for its mortgage company and likely filing an S-1 [17][20] - The focus is on acquiring distressed assets and direct lending opportunities, particularly in the commercial real estate sector [22][60] - The company plans to raise significant pools of capital over the next three to nine months to enhance earnings growth [29] Management's Comments on Operating Environment and Future Outlook - Management believes the current stress in the banking system will create greater opportunities for lending business lines [16][18] - The company will not fight the Fed's interest rate policies and aims to maintain stable book value while growing earnings [18][28] - There is optimism regarding the pipeline of investment opportunities, particularly in consumer and real estate assets [60][77] Other Important Information - The company has a strong track record of consistent earnings and has paid out $1 billion in dividends over the past two years [16][29] - The investment portfolio is performing well, with a focus on customer retention and reducing expenses [31][23] Q&A Session Summary Question: Update on book value quarter to date - Book value is essentially unchanged from Q1 [5] Question: MSR opportunity focus - The focus is more on POS and conventional sides, targeting 15% to 20% returns [6] Question: Competitive positioning in origination market - The company is exploring opportunities in the Genesis business and is optimistic about the potential for higher returns [46][55] Question: Potential for creating a public entity from the mortgage company - The company is likely to file an S-1 to explore this option [47] Question: Opportunities from regional bank stress - The company sees significant investment opportunities arising from the stress in regional banks [59][77] Question: Capital raising ambitions - The company is optimistic about raising large pools of capital for investment strategies [81]

rithm PAST PERFORMANCE. Past performance is not a reliable indicator of future results and should not be relied upon for any reason. NO OFFER; NO RELIANCE. This Presentation is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and may not be relied upon in connection with the purchase or sale of any security. Any reference to a potential financing does not constitute, nor should it be construed as, an offer to purchase or sell any se ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 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: 001-35777 Rithm Capital Corp. (Exact name of registrant as specified in its charter) | | Delaware | | 45-3449660 | | --- | --- | --- | --- | | | (S ...

Rithm Capital Corp. (NYSE:RITM) Q4 2022 Earnings Conference Call February 8, 2023 8:00 AM ET Company Participants Phil Sivin - Chief Legal Officer Michael Nierenberg - Chairman, Chief Executive Officer & President Nick Santoro - Chief Financial Officer Baron Silverstein - President, NewRez Conference Call Participants Bose George - KBW Doug Harter - Credit Suisse Eric Hagen - BTIG Kevin Barker - Piper Sandler Stephen Laws - Raymond James Trevor Cranston - JMP Securities Giuliano Bologna - Compass Point Bose ...

rithm = Quarterly Supplement Q4 and Full Year 2022 FORWARD-LOOKING STATEMENTS. Certain statements regarding Rithm Capital Corp. (together with its subsidiaries, "Rithm Capital," the "Company" or "we") in this Presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, the ability to succeed in the current market environment and varying economic environments, ability to collaborate across operating companies ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ 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 Rithm Capital Corp. (Exact name of registrant as specified in its charter) | Delaware | | | 45-3449660 | | --- | --- | --- | --- | | (State or other jurisdiction of incorporation or organization) ...

Financial Data and Key Metrics Changes - GAAP net income for Q3 2022 was $125 million, or $0.26 per diluted share, with earnings available for distribution at $153 million, or $0.32 per diluted share [20] - Book value remained essentially unchanged quarter-over-quarter despite market volatility [16] - Cash and liquidity stood at $1.8 billion, with total equity in the business at $7 billion [20] Business Line Data and Key Metrics Changes - The Genesis business originated $600 million in loans during the quarter, primarily consisting of floating rate, high coupon loans [13] - The servicing segment generated $267 million in pre-tax income, while the origination business reported a pre-tax loss of $57 million, including one-time charges [35] - The single-family rental business currently has about 3,700 homes, with occupancy above 90% [31] Market Data and Key Metrics Changes - The company has lowered loan-to-value (LTV) ratios and tightened underwriting guidelines in response to expected declines in home prices [14] - The mortgage servicing rights (MSR) portfolio has a weighted average coupon of 3.7% and a weighted average maturity of about five years [17] Company Strategy and Development Direction - The company plans to expand investment strategies, including the acquisition of 50% of Senlac Ridge Partners, focusing on commercial real estate [9][10] - A new third-party fund business is being formed to raise callable capital in private markets, aiming to create value for shareholders [11] - The company is prioritizing efficiency in its mortgage operations and is prepared to capitalize on future opportunities as market conditions change [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges a challenging investing environment and maintains a cautious outlook, expecting continued difficulties [8] - The company is optimistic about future opportunities in the housing market, particularly as home prices decline and cap rates increase [15] - Management emphasizes the importance of maintaining liquidity and reducing expenses while driving consistent earnings and dividends [8] Other Important Information - The company has $12 billion in custodial deposits, which will benefit from rising interest rates [17] - The company is focused on maintaining a strong presence with its customer base of over three million [45] Q&A Session Summary Question: What inning is the overall industry in regarding headcount reduction? - Management believes they are in the seventh or eighth inning of headcount reduction, having been aggressive in rightsizing [44] Question: What is the outlook for consolidation in the industry? - Management expects to see some mortgage companies throw in the towel, leading to potential MSR sales, but has not seen a significant number yet [46] Question: What is the plan for third-party capital? - The timeline for raising third-party capital is immediate, leveraging expertise in financial services and targeting asset classes not currently on the balance sheet [64][66] Question: Can you discuss the repositioning of the portfolio? - The company has moved up in coupon rates on agency mortgages to maintain compliance and avoid negative carry [72] Question: What adjustments are being considered in the origination channel? - The company plans to merge the joint venture business with the retail business to streamline operations and improve efficiency [79] Question: What is the current state of the single-family rental business? - The company is being cautious in acquiring new homes, focusing on maintaining occupancy and waiting for better entry points as cap rates increase [86] Question: How is the credit quality of the Genesis business being assessed? - Management feels confident about the credit quality due to corporate guarantees on loans and favorable LTV ratios [89]

rithm = Q3 2022 Quarterly Supplement Rithm Capital Quarterly Supplement Q3 2022 Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the "Presentation." FORWARD-LOOKING STATEMENTS. Certain statements regarding Rithm Capital Corp. (together with its subsidiaries, "Rithm Capital," the "Company" or "we") in this Presentation may constitute ...