Velocity Financial(VEL) - 2024 Q1 - Quarterly Results

Exhibit 99 Investors and Media: Chris Oltmann (818) 532-3708 Velocity Financial, Inc. Reports First Quarter 2024 Results First Quarter Highlights: • Net income of $17.3 million, up 62.0% from $10.6 million for 1Q23. Diluted EPS of $0.49, up $0.18 from $0.31 per share for 1Q23 • Core net income(1) of $18.2 million, an increase of 60.4% from $11.4 million for 1Q23. Core diluted EPS(1) of $0.51, up from $0.33 per share for 1Q23 • Loan production of $378.7 million in UPB, a 7.5% increase from 4Q23 and 74.5% fro ...