FY 2025 Investor Supplement LAST UPDATED 03.10.2026 © 2026 Finance of America Companies Disclaimer Forward Looking Statements This presentation includes forward-looking statements within the meaning of the "safe harbor" provisions of the United States of America (the "U.S.") Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only the Company's beliefs regarding future events, many of which, by their ...

Core Insights - Ellington Financial reported Q3 CY2025 revenue of $82.76 million, exceeding analyst expectations by 4.9% and reflecting a year-on-year growth of 23.6% [6] - The company's non-GAAP profit was $0.53 per share, which was 20.7% above consensus estimates [6] - Management highlighted strong performance driven by loan portfolio expansion and an active securitization pipeline [3] Financial Performance - Revenue: $82.76 million vs analyst estimates of $78.87 million, representing a 23.6% year-on-year growth [6] - Adjusted EPS: $0.53 vs analyst estimates of $0.44, a 20.7% beat [6] - Adjusted Operating Income: $25.74 million with a 31.1% margin, showing a 60.4% year-on-year growth [6] - Market Capitalization: $1.38 billion [6] Strategic Initiatives - The company priced seven securitizations during the quarter, focusing on non-QM and closed-end second lien loans, enhancing liquidity [7] - Total portfolio holdings grew by 12%, with significant increases in non-QM, proprietary reverse mortgage, and commercial mortgage bridge loans [7] - A successful $400 million issuance of five-year senior unsecured notes reduced reliance on short-term repo financing, improving capital efficiency [7] Credit Quality and Risk Management - Management reported exceptionally low cumulative realized credit losses in both residential and commercial loans, attributed to disciplined underwriting and a focus on higher FICO borrowers [7] - The company emphasized the importance of risk controls, including personal guarantees on certain loan types [7] Technology and Operational Efficiency - Investments in proprietary technology have enabled more efficient loan origination and delivery, broadening the range of mortgage products [8]

Core Insights - Reverse mortgages have evolved from a negative perception to being recognized as valuable financial tools for seniors seeking to enhance their retirement income [1] Company Summaries - **Mutual of Omaha**: Recognized as the best overall reverse mortgage company, it consistently ranks among the top-volume lenders and offers a wide range of solutions. It was the highest-volume provider in 2024 and has strong financial health ratings, although accessing information on their website can be challenging [2][8] - **Finance of America**: Noted for its extensive educational resources, it acquired American Advisors Group in 2023 and merged the brands in 2024 [4][6] - **Longbridge Financial**: Specializes in high-value (jumbo) reverse mortgages, catering to homeowners with high-value properties [7] - **Fairway Independent Mortgage**: Known for fast closings, it launched a "15-Day Close" program for HECM loans in 2024 and has a strong resource center for clients [11][16] - **Guild Mortgage**: Offers repayment flexibility and has been a residential lender for 60 years, providing various equity-tapping loan products [13][17] - **Movement Mortgage**: Achieved the highest customer satisfaction rating in J.D. Power's survey and is available in all 50 states [18][25] Key Benefits - Reverse mortgages allow seniors to access home equity without selling their homes, providing cash either as a lump sum, monthly payments, or a line of credit [19] - The Home Equity Conversion Mortgage (HECM) is the most common type, backed by the FHA, allowing proceeds to be used for any purpose [26] - Proprietary reverse mortgages cater to high-value properties and may have higher costs compared to HECMs [22] - Single-purpose reverse mortgages are aimed at low-income households for urgent expenses [23] Eligibility and Fees - Eligibility typically requires borrowers to be 62 or older, have a primary residence, and complete a government-approved consultation [29] - Fees for HECMs include mortgage insurance premiums, third-party fees, and lender origination fees, which can be significant [30] Alternatives and Considerations - Alternatives to reverse mortgages include home equity loans, selling and downsizing, or refinancing [34][37] - Reverse mortgages can deplete home equity and may affect inheritance for heirs, making it essential for homeowners to consider their long-term financial plans [35][37]