AI Earnings Predictions for Finance of America Companies Inc. (FOA)

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FINANCE OF AMERICA REPORTS THIRD QUARTER 2026 RESULTS

– Funded volume of $748 million increased 24% for the quarter compared to prior year –

– $5.24 in basic loss per share or $110 million net loss for the quarter, primarily the result of $125 million in non-cash changes in fair value –

– Cash and cash equivalents increased by $33 million during the quarter, to $118 million as of September 30, 2026 –

– $0.28 in adjusted earnings per share(1) or $6 million of adjusted net income(1) for the quarter –

– $17 million of adjusted EBITDA(1) for the quarter –

Plano, Texas (November 3, 2026): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended September 30, 2026.

Third Quarter and Year-to-Date 2026 Highlights(2)

•Funded volume of $748 million for the quarter, representing a 24% increase year over year.

•Year-to-date funded volume increased 17% to $2,074 million.

•$5.24 in basic loss per share or $110 million net loss for the quarter, primarily the result of $125 million in non-cash fair value adjustments. $3.49 in basic loss per share or $103 million net loss for the first nine months of 2026.

•$0.28 in adjusted earnings per share(1) or $6 million of adjusted net income(1) during the quarter, primarily the result of lower net origination gains due to higher benchmark rates.

•$2.26 in adjusted earnings per share(1) or $51 million of adjusted net income(1) for the first nine months of 2026.

•Cash and cash equivalents increased by $33 million during the quarter, to $118 million as of September 30, 2026, reflecting strong cash generation from originations and capital markets.

•Leveraging its strong cash position, the Company expects to complete the $60 million paydown of senior secured notes in November 2026.

•Total equity of $307 million as of September 30, 2026, with total equity attributable to common stock of $259 million, or $28.08 book value per common share.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) The financial information presented in the highlights is for the Company’s continuing operations.

Graham A. Fleming, Chief Executive Officer commented, “The third quarter of 2026 demonstrated the continued strength of our platform, with funded origination volume growing 24% year over year. While higher interest rates drove near-term pressure on earnings, we believe this impact is temporary. We have already taken steps to improve margins. We remain focused on driving production growth, operational efficiency, and cash generation, and we will continue taking action to normalize margins should rate volatility remain elevated. We believe Finance of America is well positioned to navigate these evolving markets, capitalize on the enduring demand for home equity solutions, and create long-term shareholder value.”

1

(unaudited)

Third Quarter and Year-to-Date 2026 Financial Summary of Continuing Operations

($ amounts in millions, except per share data)(1) Variance (%)Variance (%)Variance (%)

Q3'26Q2'26Q3'26 vs Q2'26Q3'25Q3'26 vs Q3'25YTD 2026YTD 20252026 vs 2025

Funded volume$748 $730 2 %$603 24 %$2,074 $1,766 17 %

Total revenues(58)62 (194)%81 (172)%125 424 (71)%

Total expenses and other, net72 134 (46)%109 (34)%289 289 — %

Pre-tax income (loss) from continuing operations(130)(71)(83)%(29)(348)%(165)135 (222)%

Net income (loss) from continuing operations(110)(29)(279)%(29)(279)%(103)131 (179)%

Adjusted total revenues(2) 89 105 (15)%107 (17)%305 276 11 %

Adjusted net income(2) 6 19 (68)%33 (82)%51 60 (15)%

Adjusted EBITDA(2) 17 35 (51)%55 (69)%95 114 (17)%

Basic earnings (loss) per share$(5.24)$0.10 (5340)%$(0.98)(435)%$(3.49)$5.78 (160)%

Diluted earnings (loss) per share$(6.05)$(1.28)(373)%$(1.22)(396)%$(5.45)$4.26 (228)%

Adjusted earnings per share(2) $0.28 $0.84 (67)%$1.33 (79)%$2.26 $2.33 (3)%

(1) Numbers may not foot due to rounding.

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Balance Sheet Highlights

($ amounts in millions)(1) September 30,June 30,Variance (%)September 30,Variance (%)

20262026Q3'26 vs Q2'262025Q3'26 vs Q3'25

Cash and cash equivalents$118 $85 39 %$110 7 %

Securitized loans held for investment (HMBS & nonrecourse)35,843 35,973 — %29,451 22 %

Total assets37,731 37,317 1 %30,657 23 %

Total liabilities37,424 36,910 1 %30,291 24 %

Total equity307 407 (25)%366 (16)%

Tangible equity(2) 155 246 (37)%177 (12)%

(1) Numbers may not foot due to rounding.

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations t

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FINANCE OF AMERICA REPORTS SECOND QUARTER 2026 RESULTS

– $0.10 in basic earnings per share or $1 million of net income attributable to holders of Class A Common Stock for the quarter –

– $1.28 in diluted loss per share or $29 million net loss for the quarter –

– $0.84 in adjusted earnings per share(1) or $19 million of adjusted net income(1) for the quarter –

– $35 million of Adjusted EBITDA(1) for the quarter –

Plano, Texas (August 4, 2026): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended June 30, 2026.

Second Quarter and Year-to-Date 2026 Highlights(2)

•Funded volume of $730 million for the quarter, representing a 21% increase year over year.

•$0.10 in basic earnings per share or $1 million of net income attributable to holders of Class A Common Stock for the quarter. For the first half of 2026, the Company has recognized $1.99 in basic earnings per share or $17 million of net income attributable to holders of Class A Common Stock.

•$1.28 in diluted loss per share or $29 million net loss for the quarter. For the first half of 2026, the Company recognized $0.41 in diluted earnings per share or $6 million of net income.

•$0.84 in adjusted earnings per share(1) or $19 million of adjusted net income(1) during the quarter. On a per share basis, this represents a 53% improvement over the second quarter 2025.

•$1.94 in adjusted earnings per share(1) or $45 million of adjusted net income(1) during the first half of 2026. On a per share basis, this represents a 81% improvement over the first half of 2025.

•Total equity of $407 million as of June 30, 2026, with total equity attributable to common stock of $297 million, or $33.20 book value per common share. Tangible equity(1) of $246 million, or $13.31 per share(1).

•Completed the acquisition of Onity HECM servicing portfolio in June 2026.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) The financial information presented in the highlights is for the Company’s continuing operations.

Graham A. Fleming, Chief Executive Officer commented, “The second quarter of 2026 reinforced what we've been communicating over the past several quarters: that the operational improvements and investments we have made are now translating into a stronger, more scalable business. Demand is strengthening, conversion and sales productivity are improving, and our proprietary products are expanding the ways we can serve older homeowners. We believe Finance of America is well positioned to capture the long-term opportunity in home equity and create durable shareholder value.”

1

(unaudited)

Second Quarter and Year-to-Date 2026 Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q2'26Q1'26Q2'26 vs Q1'26Q2'25Q2'26 vs Q2'25YTD 2026YTD 20252026 vs 2025

Funded volume$730 $596 22 %$602 21 %$1,326 $1,163 14 %

Total revenues62 120 (48)%177 (65)%183 343 (47)%

Total expenses and other, net134 84 60 %95 41 %217 179 21 %

Pre-tax income (loss) from continuing operations(71)36 (297)%82 (187)%(35)164 (121)%

Net income (loss) from continuing operations(29)35 (183)%80 (136)%6 160 (96)%

Adjusted net income(1) 19 26 (27)%14 36 %45 27 67 %

Adjusted EBITDA(1) 35 44 (20)%30 17 %79 59 34 %

Basic earnings per share$0.10 $1.93 (95)%$3.16 (97)%$1.99 $6.33 (69)%

Diluted earnings (loss) per share(2) $(1.28)$0.88 (245)%$2.13 (160)%$0.41 $4.69 (91)%

Adjusted earnings per share(1) $0.84 $1.10 (24)%$0.55 53 %$1.94 $1.07 81 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)(1) June 30,March 31,Variance (%)June 30,Variance (%)

20262026Q2'26 vs Q1'262025Q2'26 vs Q2'25

Cash and cash equivalents$85 $108 (21)%$46 85 %

Securitized loans held for investment (HMBS & nonrecourse)35,973 30,090 20 %28,747 25 %

Total assets37,317 31,328 19 %30,147 24 %

Total liabilities36,910 30,890 19 %29,674 24 %

Total equity407 438 (7)%473 (14)%

Tangible equity(2) 246 268 (8)%275 (11)%

•As of June 30, 2026, the Company held $85 million in cash and cash equivalents, an 85% increase from June 30, 2025, reflecting strong cash generation from originations and capital markets activities, which provided the majority of the funding to complete the acquisition of the Onity HECM servicing portfolio.

•Securitized loans held for investment, total assets, and total liabilities increased by 19% or

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FINANCE OF AMERICA REPORTS FIRST QUARTER 2026 RESULTS

– $1.93 in basic earnings per share or $35 million of net income for the quarter –

– $1.10 in adjusted earnings per share(1) or $26 million of adjusted net income(1) for the quarter, and outpacing consensus estimates –

– $44 million of Adjusted EBITDA(1) for the quarter –

Plano, Texas (May 5, 2026): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended March 31, 2026.

First Quarter 2026 Highlights(2)

•Funded volume of $596 million for the quarter, representing a 6% increase year over year, with volumes accelerating in March.

•$1.93 in basic earnings per share or $35 million of net income for the quarter. These results benefitted from growing funded volume, strong operating margin, and a modest fair value gain on our portfolio.

•$1.10 in adjusted earnings per share(1) or $26 million of adjusted net income(1) during the quarter, driven by improved origination gains, improved operating leverage, and increased capital markets activity, exceeding consensus estimates.

•Total equity increased to $438 million. Tangible equity(1) grew to $268 million, or $14.82 per share(1).

•Completed the repurchase of Blackstone’s equity interest in Finance of America as of February 2026.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) The financial information presented in the highlights is for the Company’s continuing operations.

Graham A. Fleming, Chief Executive Officer commented, “The first quarter of 2026 was an outstanding quarter, with operational momentum in originations driving an acceleration in volumes and steady improvement in our financial results, liquidity, and capital position. Our focus is on translating that momentum into consistent, repeatable growth through the rest of 2026 and in the years ahead.”

1

(unaudited)

First Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)

Q1'26Q4'25Q1'26 vs Q4'25Q1'25Q1'26 vs Q1'25

Funded volume$596 $619 (4)%$561 6 %

Total revenues120 74 62 %166 (28)%

Total expenses and other, net84 96 (13)%84 — %

Pre-tax income (loss) from continuing operations36 (22)264 %82 (56)%

Net income (loss) from continuing operations35 (21)267 %80 (56)%

Adjusted net income(1) 26 14 86 %13 100 %

Adjusted EBITDA(1) 44 28 57 %29 52 %

Basic earnings (loss) per share$1.93 $(1.30)248 %$3.17 (39)%

Diluted earnings (loss) per share(2) $0.88 $(1.30)168 %$2.56 (66)%

Adjusted earnings per share(1) $1.10 $0.69 59 %$0.52 112 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)(1) March 31,December 31,Variance (%)March 31,Variance (%)

20262025Q1'26 vs Q4'252025Q1'26 vs Q1'25

Cash and cash equivalents$108 $90 20 %$52 108 %

Securitized loans held for investment (HMBS & nonrecourse)30,090 29,162 3 %28,439 6 %

Total assets31,328 30,733 2 %29,689 6 %

Total liabilities30,890 30,338 2 %29,294 5 %

Total equity438 396 11 %395 11 %

Tangible equity(2) 268 216 24 %187 43 %

•As of March 31, 2026, the Company held $108 million in cash and cash equivalents, a 108% increase from March 31, 2025, reflecting strong cashflow from originations and capital markets activities.

•For the quarter, total equity increased to $438 million as of March 31, 2026, driven by strong profitability.

•Tangible equity(2) increased to $268 million as of March 31, 2026, an increase of 43% from March 31, 2025.

(1) Numbers may not foot due to rounding.

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment generates revenue from fees earned at the time of loan origination as well as from the initial estimate of net origination gains, with all originated loans accounted for at fair value.

Variance (%)Variance (%)

($ amounts in millions) Q1'26Q4'25Q1'26 vs Q4'25Q1'25Q1'26 vs Q1'25

Funded volume$596 $619 (4)%$561 6 %

Total revenue67 71 (6)%52 29 %

Pre-tax income10 15 (33)%3 233 %

Adjusted net income(1) 14 18 (22)%9 56 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

•For the quarter, funded vo

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FINANCE OF AMERICA REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS

– $5.04 in basic earnings per share or $110 million of net income from continuing operations for the year, up 175% year over year –

– $3.04 in adjusted earnings per share(1) or $74 million of adjusted net income(1) for the year, up 429% year over year –

– Funded volume of $2.4 billion for the year, representing a 24% increase from 2024 –

Plano, Texas (March 10, 2026): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter and year ended December 31, 2025.

Fourth Quarter and Full Year 2025 Highlights(2)

•Funded volume of $619 million for the quarter, consistent with expectations and brings funded volume for the year to $2.4 billion, representing a 24% increase from 2024.

•$5.04 in basic earnings per share or $110 million of net income from continuing operations for the year, a 175% increase compared to 2024. This improvement was driven by higher funded volume, improved operating leverage, and favorable fair value adjustments during the year.

•Adjusted net income(1) of $74 million during 2025, an improvement of 429% compared to 2024, driven by improved origination gains, improved operating leverage, and increased capital markets activity, generating $3.04 in adjusted earnings per share(1), above the stated guidance range.

•Announced an agreement to acquire the reverse mortgage servicing portfolio and related assets from PHH Mortgage, expanding our servicing platform and enhancing our origination capabilities.

•Announced a $2.5 billion strategic partnership, and received a $50 million equity investment from funds managed by Blue Owl, supporting continued growth initiatives.

•Paid off higher cost working capital facilities in August 2025 and completed the repurchase of Blackstone’s equity interest in Finance of America as of February 2026.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) The financial information presented in the highlights is for the Company’s continuing operations.

Graham A. Fleming, Chief Executive Officer commented, “Finance of America delivered significant year over year growth in 2025, reflecting improved scalability across our platform and stronger conversion of volume into profitability. We believe demographic trends continue to support long-term demand for responsible home equity solutions. The progress we’ve made across our platform, products and capital structure have positioned FOA to build on this momentum in 2026 and beyond.”

1

(unaudited)

Fourth Quarter and Full Year Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q4'25Q3'25Q4'25 vs Q3'25Q4'24Q4'25 vs Q4'24202520242025 vs 2024

Funded volume$619 $603 3 %$534 16 %$2,385 $1,918 24 %

Total revenues74 81 (9)%(49)251 %497 394 26 %

Total expenses and other, net96 109 (12)%96 — %384 351 9 %

Pre-tax income (loss) from continuing operations(22)(29)24 %(146)85 %113 43 163 %

Net income (loss) from continuing operations(21)(29)28 %(143)85 %110 40 175 %

Adjusted net income(1) 14 33 (58)%5 180 %74 14 429 %

Adjusted EBITDA(1) 28 55 (49)%18 56 %143 60 138 %

Basic earnings (loss) per share$(1.30)$(0.98)(33)%$(5.95)78 %$5.04 $1.78 183 %

Diluted earnings (loss) per share(2) $(1.30)$(1.22)(7)%$(5.95)78 %$3.94 $1.36 190 %

Adjusted earnings per share(1) $0.69 $1.33 (48)%$0.21 229 %$3.04 $0.60 407 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)(1) December 31,December 31,Variance (%)

202520242025 vs 2024

Cash and cash equivalents$90 $47 91 %

Securitized loans held for investment (HMBS & nonrecourse)29,162 27,958 4 %

Total assets30,733 29,156 5 %

Total liabilities30,338 28,841 5 %

Total equity396 316 25 %

(1) Numbers may not foot due to rounding.

•As of December 31, 2025, the Company held $90 million in cash and cash equivalents, a 91% increase from December 31, 2024, maintaining strong liquidity through year-end.

•For the year, total equity increased from $316 million as of December 31, 2024 to $396 million as of December 31, 2025, driven by strong profitability and the $50 million preferred equity investment from funds managed by Blue Owl, partially offset by the $80 million repurchase of Blackstone’s equity interest.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment generates revenue f

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FINANCE OF AMERICA REPORTS THIRD QUARTER 2025 RESULTS

– $5.78 in basic earnings per share or $131 million of net income from continuing operations for the first nine months of 2025 –

– $2.33 in adjusted earnings per share(1) or $60 million of adjusted net income(1) for the first nine months of 2025 –

– Announced a strategic partnership with Better.com to expand FOA’s product offerings by leveraging their technology, enabling us to better serve the senior demographic –

Plano, Texas (November 4, 2025): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended September 30, 2025.

Year-to-Date and Third Quarter 2025 Highlights(2)

•Funded volume of $603 million in the third quarter, consistent with expectations and brings year-to-date funded volume to $1.8 billion, representing a 28% increase from the same period in 2024.

•$5.78 in basic earnings per share or $131 million of net income from continuing operations for the first nine months of 2025, despite a net loss of $29 million during the third quarter. The quarterly loss was primarily attributable to changes in model assumptions related to home price appreciation.

•Adjusted net income(1) of $33 million during the third quarter, or $1.33 in adjusted earnings per share(1), an improvement of 136% compared to the second quarter of 2025 and 120% year over year, driven by improved origination gains, stronger fee income, and increased capital markets activity.

•Repaid $85 million of higher cost working capital facilities and entered into an agreement to repurchase the entirety of Blackstone’s equity stake in Finance of America, reducing interest expense and enhancing financial flexibility.

•During the quarter, cash and cash equivalents grew from $46 million as of June 30, 2025 to $110 million as of September 30, 2025.

•Announced strategic partnership with Better.com to expand FOA’s product offerings available by leveraging their technology, enabling us to better serve the senior demographic.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) The financial information presented in the highlights is for the Company’s continuing operations.

Graham A. Fleming, Chief Executive Officer commented, “Finance of America delivered a powerful quarter. Year-to-date, we have earned $131 million of net income and adjusted net income has increased more than five-fold compared to last year, and funded volume is up 28% as demand for home equity solutions continues to grow.”

1

(unaudited)

Third Quarter and Year-to-Date Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q3'25Q2'25Q3'25 vs Q2'25Q3'24Q3'25 vs Q3'24YTD 2025YTD 20242025 vs 2024

Funded volume$603 $602 — %$513 18 %$1,766 $1,384 28 %

Total revenues81 177 (54)%290 (72)%424 444 (5)%

Total expenses and other, net109 95 15 %82 33 %289 255 13 %

Pre-tax income (loss) from continuing operations(29)82 (135)%208 (114)%135 189 (29)%

Net income (loss) from continuing operations(29)80 (136)%204 (114)%131 183 (28)%

Adjusted net income(1) 33 14 136 %15 120 %60 9 567 %

Adjusted EBITDA(1) 55 30 83 %32 72 %114 42 171 %

Basic earnings (loss) per share$(0.98)$3.16 (131)%$8.48 (112)%$5.78 $7.80 (26)%

Diluted earnings (loss) per share(2) $(1.22)$2.13 (157)%$7.50 (116)%$4.26 $6.65 (36)%

Adjusted earnings per share(1) $1.33 $0.55 142 %$0.67 99 %$2.33 $0.38 513 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)(1) September 30,June 30,Variance (%)

20252025Q3'25 vs Q2'25

Cash and cash equivalents$110 $46 139 %

Securitized loans held for investment (HMBS & nonrecourse)29,451 28,747 2 %

Total assets30,657 30,147 2 %

Total liabilities30,291 29,674 2 %

Total equity366 473 (23)%

(1) Numbers may not foot due to rounding.

•As of September 30, 2025, the Company held $110 million in cash and cash equivalents, providing enough liquidity to satisfy the upcoming corporate debt payments due in November 2025.

•For the quarter, total equity decreased from $473 million as of June 30, 2025 to $366 million as of September 30, 2025, as the previously announced repurchase of shares from Blackstone has been accounted for as treasury stock as of September 30, 2025, thereby reducing equity as of the end of the quarter.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment primarily

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FINANCE OF AMERICA REPORTS SECOND QUARTER 2025 RESULTS

– $3.16 in basic earnings per share or $80 million of net income from continuing operations for the quarter –

– $0.55 in adjusted earnings per share(1) or $14 million of adjusted net income(1) for the quarter –

– Entered into an agreement to repurchase the entirety of Blackstone’s equity stake in Finance of America –

Plano, Texas (August 5, 2025): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended June 30, 2025.

Second Quarter 2025 Highlights(2)

•$3.16 in basic earnings per share or $80 million of net income from continuing operations for the quarter.

•$0.55 in adjusted earnings per share(1) or $14 million of adjusted net income(1) for the quarter.

•Adjusted EBITDA(1) of $30 million for the quarter.

•Funded volume of $602 million in the second quarter, exceeding the top end of the stated quarterly guidance and representing a 35% increase in funded volume from the second quarter of 2024.

•Adjusted net income(1) improved by $14 million compared to the second quarter of 2024 due to increased volumes and reduced operational expenses.

•Adjusted net income(1) totaled $27 million year to date, compared to a $7 million loss in the first half of 2024, demonstrating the results of the Company’s transformed platform.

•Total equity increased to $473 million as of June 30, 2025.

•In early August, repaid higher cost working capital facility and entered into an agreement to repurchase the entirety of Blackstone’s equity stake in Finance of America, reducing interest expense and enhancing financial flexibility.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) The financial information presented in the highlights is for the Company’s continuing operations.

Graham A. Fleming, Chief Executive Officer commented, “Finance of America delivered another strong quarter, funding $602 million in loans and achieving our fifth consecutive quarter of growth. Our second quarter results reflect consistent execution, rising profitability, and the growing relevance of home equity solutions for retirement.

We continue to see encouraging signals from our new brand campaign and digital initiatives, which are helping to expand our reach and deepen engagement with the next generation of borrowers. As demand builds among a rapidly growing demographic, we believe Finance of America will continue to lead this market and deliver long-term value.”

1

(unaudited)

Second Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q2'25Q1'25Q2'25 vs Q1'25Q2'24Q2'25 vs Q2'24YTD 2025YTD 20242025 vs 2024

Funded volume$602 $561 7 %$447 35 %$1,163 $871 34 %

Total revenues177 166 7 %79 124 %343 154 123 %

Total expenses and other, net95 84 13 %83 14 %179 173 3 %

Pre-tax income (loss) from continuing operations82 82 — %(4)2,150 %164 (20)920 %

Net income (loss) from continuing operations80 80 — %(5)1,700 %160 (21)862 %

Adjusted net income (loss)(1)

14 13 8 %— N/A27 (7)486 %

Adjusted EBITDA(1) 30 29 3 %10 200 %59 10 490 %

Basic earnings (loss) per share$3.16 $3.17 — %$(0.20)1,680 %$6.33 $(0.78)912 %

Diluted earnings (loss) per share(2) $2.13 $2.56 (17)%$(0.29)834 %$4.69 $(0.88)633 %

Adjusted earnings (loss) per share(1)

$0.55 $0.52 6 %$— N/A$1.07 $(0.29)469 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)(1) June 30,March 31,Variance (%)

20252025Q2'25 vs Q1'25

Cash and cash equivalents$46 $52 (12)%

Securitized loans held for investment (HMBS & nonrecourse)28,747 28,439 1 %

Total assets30,147 29,689 2 %

Total liabilities29,674 29,294 1 %

Total equity473 395 20 %

•For the quarter, total equity increased from $395 million as of March 31, 2025 to $473 million as of June 30, 2025, an improvement of 20%, reflecting enhanced operational performance and positive fair value adjustments on the Company’s retained interests in securitizations resulting from improving market inputs and model assumptions.

•Additionally, tangible equity(2) increased from $187 million as of March 31, 2025 to $275 million as of June 30, 2025, an improvement of 47%.

(1) Numbers may not foot due to rounding.

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other importan

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FINANCE OF AMERICA REPORTS FIRST QUARTER 2025 RESULTS

– $3.17 in basic earnings per share or $80 million of net income from continuing operations for the quarter –

– $0.52 in adjusted earnings per share(2) or $13 million of adjusted net income(2) for the quarter –

– Adjusted EBITDA(2) for the quarter of $29 million –

Plano, Texas (May 6, 2025): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended March 31, 2025.

First Quarter 2025 Highlights(1)

•$3.17 in basic earnings per share or $80 million of net income from continuing operations for the quarter.

•$0.52 adjusted earnings per share or $13 million of adjusted net income(2) for the quarter.

•Adjusted EBITDA(2) of $29 million for the quarter.

•Funded volume of $561 million in the first quarter, eclipsing the high end of stated guidance range. This represents a 32% increase in volume from the first quarter of 2024.

•Adjusted net income(2) improved by $20 million compared to the first quarter of 2024 due to increased volumes and reduced operational expenses.

•Total equity increased to $395 million as of March 31, 2025.

•Tangible equity(2) grew by $88 million from the end of 2024 given the Company’s performance during the quarter.

(1) The financial information presented in the highlights is for the Company’s continuing operations.

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, Chief Executive Officer commented, “Finance of America delivered a strong start to 2025, funding $561 million in loans and exceeding the high end of our guidance range. Our first quarter performance highlights the strength and growing relevance of reverse mortgages across a broad range of market conditions.

Building on this momentum, we recently launched our new brand platform, ‘A Better Way with FOA,’ along with a national advertising campaign. We are optimistic that these initiatives will help us increase awareness and adoption of reverse mortgages by showcasing the meaningful benefits our products can deliver in a compelling and authentic way. We are very excited about the future growth of FOA.”

1

(unaudited)

First Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)

Q1'25Q4'24Q1'25 vs Q4'24Q1'24Q1'25 vs Q1'24

Funded volume$561 $534 5 %$424 32 %

Total revenues166 (49)439 %75 121 %

Total expenses and other, net84 96 (13)%90 (7)%

Pre-tax income (loss) from continuing operations82 (146)156 %(16)613 %

Net income (loss) from continuing operations80 (143)156 %(16)600 %

Adjusted net income (loss)(1) 13 5 160 %(7)286 %

Adjusted EBITDA(1)

29 18 61 %— N/A

Basic earnings (loss) per share$3.17 $(5.95)153 %$(0.58)647 %

Diluted earnings (loss) per share(2) $2.56 $(5.95)143 %$(0.58)541 %

Adjusted earnings (loss) per share(1) $0.52 $0.21 148 %$(0.29)279 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)(1) March 31,December 31,Variance (%)

20252024Q1'25 vs Q4'24

Cash and cash equivalents$52 $47 11 %

Securitized loans held for investment (HMBS & nonrecourse)28,439 27,958 2 %

Total assets29,689 29,156 2 %

Total liabilities29,294 28,841 2 %

Total equity395 316 25 %

(1)Numbers may not foot due to rounding.

•For the quarter, total equity increased from $316 million to $395 million, or 25%, reflecting enhanced operational performance and positive fair value adjustments on the Company’s retained interests in securitizations resulting from improving market inputs and model assumptions.

•Additionally, tangible equity increased from $99 million as of December 31, 2024, to $187 million as of March 31, 2025, an improvement of 89%.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment primarily generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)

($ amounts in millions) Q1'25Q4'24Q1'25 vs Q4'24Q1'24Q1'25 vs Q1'24

Funded volume$561 $534 5 %$424 32 %

Total revenue52 49 6 %46 13 %

Pre-tax income (loss)3 1 200 %(4)175 %

Adjusted net income(1) 9 8 13 %5 80 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

•For the quarter, the segment recognized pre-tax

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FINANCE OF AMERICA REPORTS FOURTH QUARTER AND FULL YEAR 2024 RESULTS

– $1.78 in basic earnings per share or $40 million of net income from continuing operations for the year –

– $0.60 in adjusted earnings per share(2) or $14 million of adjusted net income(2) for the year –

– Adjusted EBITDA(2) for the year of $60 million –

Plano, Texas (March 11, 2025): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter and year ended December 31, 2024.

Full Year 2024 Highlights(1)

•Net income from continuing operations of $40 million or $1.78 basic earnings per share for the year.

•Adjusted net income(2) of $14 million or $0.60 adjusted earnings per share for the year.

•Adjusted EBITDA(2) of $60 million for the year.

•2024 marks a return to profitability for the Company as measured by net income, adjusted net income and adjusted EBITDA.

•Adjusted net income improved by $97 million compared to full year 2023 due to increased volumes, improved margins and reduced operational expenses.

•For the year, reverse mortgage funded volume increased 19% including $534 million in production in Q4, outpacing the guidance provided.

•Tangible equity grew by $80 million from the end of 2023 given the Company’s performance following the business transformation.

(1) The financial information presented in the highlights is for the Company’s continuing operations.

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, Chief Executive Officer commented, “As we wrap up 2024, I want to thank our incredible team for their dedication and hard work throughout 2024. Throughout the year, we accomplished numerous strategic objectives that strengthened our balance sheet and enhanced the business, driving the Company’s return to profitability.

“Because of their efforts, Finance of America is excited for the coming year. In 2025, we look forward to building on our momentum, expanding our reach, and driving even greater value for our customers and stakeholders.”

1

(unaudited)

Fourth Quarter and Full Year Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q4'24Q3'24Q4'24 vs Q3'24Q4'23Q4'24 vs Q4'23202420232024 vs 2023

Funded volume$534 $513 4 %$446 20 %$1,918 $1,762 9 %

Total revenues(106)290 (137)%276 (138)%338 234 44 %

Total expenses and other, net96 82 17 %95 1 %351 392 (10)%

Pre-tax income (loss) from continuing operations(146)208 (170)%172 (185)%43 (167)126 %

Net income (loss) from continuing operations(143)204 (170)%171 (184)%40 (166)124 %

Adjusted net income (loss)(1) 5 15 (67)%(19)126 %14 (83)117 %

Adjusted EBITDA(1) 18 32 (44)%(17)206 %60 (77)178 %

Basic earnings (loss) per share$(5.95)$8.48 (170)%$7.25 (182)%$1.78 $(7.48)124 %

Diluted earnings (loss) per share(2) $(5.95)$7.50 (179)%$5.56 (207)%$1.36 $(7.48)118 %

Adjusted earnings (loss) per share(1) $0.21 $0.67 (69)%$(0.85)125 %$0.60 $(3.81)116 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)(1) December 31,December 31,Variance (%)

202420232024 vs 2023

Cash and cash equivalents$47 $46 2 %

Securitized loans held for investment (HMBS & nonrecourse)27,958 25,821 8 %

Total assets29,156 27,108 8 %

Total liabilities28,841 26,835 7 %

Total equity316 272 16 %

(1)Numbers may not foot due to rounding.

•During 2024, total equity increased from $272 million to $316 million, reflecting enhanced operational performance and positive fair value adjustments on the Company’s retained interests in securitizations resulting from improving market inputs and model assumptions.

•Additionally, tangible net worth (calculated as total equity less intangible assets, net) increased from $19 million as of December 31, 2023, to $99 million as of December 31, 2024, an improvement of 421%.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment primarily generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)Variance (%)

($ amounts in millions) Q4'24Q3'24Q4'24 vs Q3'24Q4'23Q4'24 vs Q4'23202420232024 vs 2023

Funded volume$534 $513 4 %$446 20 %$1,918 $1,762 9 %

Total revenue49 64 (23)%41 20 %206 149 38 %

Pre-tax income (loss)1 16 (94)%(13)108 %11 (60)118 %

Adjusted net income (loss)(1) 8 19 (58)%(2)500 %38 (12)41

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FINANCE OF AMERICA REPORTS THIRD QUARTER 2024 RESULTS

– $8.48 in basic earnings per share or $204 million of net income from continuing operations for the quarter –

– $0.67 in adjusted earnings per share or $15 million of adjusted net income for the quarter –

– Adjusted EBITDA for the quarter of $32 million –

Plano, Texas (November 6, 2024): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended September 30, 2024.

Third Quarter 2024 Highlights(1)

•Net income from continuing operations of $204 million or $8.48 basic earnings per share for the quarter.

•Adjusted net income(2) of $15 million or $0.67 adjusted earnings per share for the quarter.

•The third quarter 2024 marks the fifth consecutive quarter of improved operating performance on an adjusted net basis.

•Adjusted EBITDA(2) of $32 million for the quarter.

•Book equity increased to $456 million as of September 30, 2024, or nearly $20 per fully diluted share.

•The Company completed its reverse stock split on July 25, 2024, bringing it back into compliance with NYSE continued listing standards.

•The Company successfully closed its exchange offer on October 31, 2024 with participation from holders of nearly 98% of senior unsecured notes.

(1) The financial information presented in the highlights is for the Company’s continuing operations.

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, Chief Executive Officer commented, “We’re very pleased with this quarter’s results, which exceeded our volume guidance and delivered strong GAAP earnings performance along with a return to profitability in adjusted net income. We continue to focus on our strategic initiatives, and now with a stronger balance sheet, are well-positioned for continued growth.”

1

(unaudited)

Third Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q3'24Q2'24Q3'24 vs Q2'24Q3'23Q3'24 vs Q3'23YTD 2024YTD 20232024 vs 2023

Funded volume$513 $447 15 %$512 — %$1,384 $1,315 5 %

Total revenues290 79 267 %(70)514 %444 (41)1183 %

Total expenses and other, net82 83 (1)%102 (20)%255 296 (14)%

Pre-tax income (loss) from continuing operations208 (4)5300 %(173)220 %189 (338)156 %

Net income (loss) from continuing operations204 (5)4180 %(172)219 %183 (338)154 %

Adjusted net income (loss)(1)

15 — N/A(24)163 %9 (64)114 %

Adjusted EBITDA(1) 32 10 220 %(23)239 %42 (59)171 %

Basic earnings (loss) per share$8.48 $(0.20)4340 %$(7.36)215 %$7.80 $(15.72)150 %

Diluted earnings (loss) per share(2) $7.50 $(0.29)2686 %$(7.36)202 %$6.65 $(15.72)142 %

Adjusted earnings (loss) per share(1)

$0.67 $— N/A$(1.03)165 %$0.38 $(2.95)113 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated on an if-converted basis except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)September 30,June 30,Variance (%)

20242024Q3'24 vs Q2'24

Cash and cash equivalents$44 $47 (6)%

Securitized loans held for investment (HMBS & nonrecourse)27,619 26,614 4 %

Total assets28,950 27,974 3 %

Total liabilities28,494 27,723 3 %

Total equity456 251 82 %

•Total equity increased from $251 million to $456 million, reflecting enhanced operational performance and positive fair value adjustments on the Company’s retained interests in securitizations resulting from improving market inputs and model assumptions.

•Additionally, tangible net worth increased from $16 million as of June 30, 2024 to $231 million as of September 30, 2024.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment primarily generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)Variance (%)

($ amounts in millions) Q3'24Q2'24Q3'24 vs Q2'24Q3'23Q3'24 vs Q3'23YTD 2024YTD 20232024 vs 2023

Funded volume$513 $447 15 %$512 — %$1,384 $1,315 5 %

Total revenue64 47 36 %40 60 %157 107 47 %

Pre-tax income (loss)16 (2)900 %(20)180 %10 (47)121 %

Adjusted net income (loss)(1) 19 7 171 %(6)417 %30 (10)400 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

•For the quarter, the segment recognized pre-tax income of $16 million and adjusted net income of $19 million as a result of increased volumes and improved margins.

•Compared to the third quarter 2023, total rev

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FINANCE OF AMERICA REPORTS SECOND QUARTER 2024 RESULTS

– Net loss from continuing operations of $5 million or $0.20 basic loss per share for the quarter –

– Announced Exchange Offer Support Agreement and reverse stock split –

– Adjusted EBITDA for the quarter of $9 million –

Plano, Texas (August 6, 2024): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a leading provider of home equity-based financing solutions for a modern retirement, reported financial results for the quarter ended June 30, 2024.

Second Quarter 2024 Highlights

•Net loss from continuing operations for the second quarter of $5 million or $0.20 basic loss per share.

•For the quarter, the Company recognized an adjusted net loss(1) of $1 million or $0.05 per share.

•The second quarter 2024 marks the fourth consecutive quarter of improved operating performance on an adjusted net basis.

•Adjusted EBITDA for the quarter of $9 million represents the first positive quarter since 2022.

•Announced Exchange Offer Support Agreement and that holders of over 93% of our senior unsecured notes had indicated their intent to participate in the exchange offer. Currently over 99% of holders of our senior unsecured notes have indicated their intent to participate in the exchange offer.

•Announced reverse stock split in June 2024 and completed reverse stock split in July 2024, bringing FOA back into compliance with NYSE continued listing standards.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, Chief Executive Officer commented, “I am proud of what Finance of America accomplished during the second quarter and excited for these recent developments to deliver improved fundamentals across the business. We sincerely appreciate all the hard work of our entire team and I want to share a huge thank you to everyone that has been a part of our company’s transformation over the last two years.”

1

(unaudited)

Second Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q2'24Q1'24Q2'24 vs Q1'24Q2'23Q2'24 vs Q2'23YTD 2024YTD 20232024 vs 2023

Funded volume$447 $424 5 %$447 — %$871 $804 8 %

Total revenues79 75 5 %(112)171 %154 29 431 %

Total expenses and other, net83 90 (8)%112 (26)%173 195 (11)%

Pre-tax loss from continuing operations(4)(16)75 %(224)98 %(20)(166)88 %

Net loss from continuing operations(5)(16)69 %(221)98 %(21)(165)87 %

Adjusted net loss(1) (1)(7)86 %(26)96 %(9)(42)79 %

Adjusted EBITDA(1) 9 (1)1000 %(26)135 %7 (38)118 %

Basic net loss per share$(0.20)$(0.58)66 %$(9.11)98 %$(0.78)$(8.04)90 %

Diluted net loss per share(2) $(0.29)$(0.58)50 %$(9.11)97 %$(0.88)$(8.04)89 %

Adjusted loss per share(1) $(0.05)$(0.33)85 %$(1.16)96 %$(0.37)$(2.00)82 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated on an if-converted basis except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)June 30,March 31,Variance (%)

20242024Q2'24 vs Q1'24

Cash and cash equivalents$47 $48 (2)%

Securitized loans held for investment (HMBS & nonrecourse)26,614 26,458 1 %

Total assets27,974 27,684 1 %

Total liabilities27,723 27,428 1 %

Total equity251 256 (2)%

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment primarily generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)Variance (%)

($ amounts in millions) Q2'24Q1'24Q2'24 vs Q1'24Q2'23Q2'24 vs Q2'23YTD 2024YTD 20232024 vs 2023

Funded volume$447 $424 5 %$447 — %$871 $804 8 %

Total revenue47 46 2 %41 15 %93 67 39 %

Pre-tax loss(2)(4)50 %(18)89 %(6)(27)78 %

Adjusted net income (loss)(1) 6 5 20 %(5)220 %11 (3)467 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

•For the quarter, the segment recognized pre-tax loss of $2 million and adjusted net income of $6 million as a result of increased volumes and reduced expenses.

•Compared to the second quarter 2023, total revenue increased by 15% primarily due to an increase in revenue margin, which led to a 220% improvement in adjusted net income.

•Total expenses decreased significantly from the second quarter 2023 from $59 million to $49 million as the business completed the integration of the retail platform acquired from Bloom Retirement Holdings Inc. (formerly known as American Advisors Group) and streamlined business operations.

Portfolio Management

The Portfolio Managemen

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FINANCE OF AMERICA REPORTS FIRST QUARTER 2024 RESULTS

– Net loss from continuing operations of $16 million or $0.06 basic loss per share for the quarter –

– Third consecutive quarter of improved operating results on an adjusted net basis –

– Adjusted EBITDA for the quarter was near break-even at a loss of $1 million –

Plano, Texas (May 6, 2024): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a modern retirement solutions platform, reported financial results for the quarter ended March 31, 2024.

First Quarter 2024 Highlights

•Net loss from continuing operations for the first quarter of $16 million or $0.06 basic loss per share.

•For the quarter, the Company recognized an adjusted net loss(1) of $7 million or $0.03 per share.

•69% improvement on a pre-tax basis in Retirement Solutions in the first quarter driven by higher revenue margin and reduced expenses compared to the prior quarter.

•The first quarter 2024 marks the third consecutive quarter of improved operating performance on an adjusted net basis.

•Adjusted EBITDA for the quarter was near break-even at a loss of $1 million.

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, Chief Executive Officer commented, “Throughout the first quarter, Finance of America continued to execute against its strategic priorities and remains on track to return to sustained profitability. As the leading provider of home equity-based financing solutions for a modern retirement, we are well positioned to benefit from home price appreciation and a growing senior homeowner population.”

1

(unaudited)

First Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)

Q1'24Q4'23Q1'24 vs Q4'23Q1'23Q1'24 vs Q1'23

Funded volume$424 $446 (5)%$357 19 %

Total revenues75 276 (73)%141 (47)%

Total expenses and other, net90 95 (5)%83 8 %

Pre-tax income (loss) from continuing operations(16)172 (109)%58 (128)%

Net income (loss) from continuing operations(16)171 (109)%55 (129)%

Adjusted net loss(1) (7)(20)65 %(15)53 %

Adjusted EBITDA(1) (1)(18)94 %(12)92 %

Basic net earnings (loss) per share$(0.06)$0.72 (108)%$0.29 (121)%

Diluted net income (loss) per share(2) $(0.06)$0.55 (111)%$0.22 (127)%

Adjusted loss per share(1) $(0.03)$(0.09)67 %$(0.08)63 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated on an if-converted basis except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)March 31,December 31,Variance (%)

20242023Q1'24 vs Q4'23

Cash and cash equivalents$48 $46 4 %

Securitized loans held for investment (HMBS & nonrecourse)26,458 25,821 2 %

Total assets27,684 27,108 2 %

Total liabilities27,428 26,835 2 %

Total equity256 272 (6)%

•First quarter cash and cash equivalents of $48 million.

•Securitized loans held for investment (HMBS & nonrecourse) increased 2% as we completed two proprietary securitizations in the quarter in addition to HMBS securitizations.

•Total assets increased 2% in line with the change in securitized loans held for investment.

•Total liabilities increased $593 million on a sequential-quarter basis primarily due to the increase in HMBS obligations.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment primarily generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)

($ amounts in millions) Q1'24Q4'23Q1'24 vs Q4'23Q1'23Q1'24 vs Q1'23

Funded volume$424 $446 (5)%$357 19 %

Total revenue46 41 12 %26 77 %

Pre-tax loss(4)(13)69 %(9)56 %

Adjusted net income (loss)(1) 5 (2)350 %2 150 %

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

•For the quarter, the segment recognized adjusted net income of $5 million as a result of improved revenue margins and reduced expenses.

•Within our Reverse business, funded volume decreased to $423 million, or down 3% from the prior quarter due to seasonality and the consolidation to one loan origination system during the quarter.

•First quarter revenue increased 12% from the fourth quarter to $46 million as margins improved as a result of spread tightening throughout the first quarter. Revenue margin in the first quarter was 10.8% compared to 9.2% in the prior quarter.

Portfolio Management

The Portfolio Management segment primarily generates revenue and earnings in the form of fair value gains or losses on portfolio assets and the sale or sec

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FINANCE OF AMERICA REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS

– Net income from continuing operations of $171 million or $0.72 basic earnings per share for the quarter –

– 20% improvement on an adjusted net basis(1) over the prior quarter –

– Finished the year with 37% share of HECM Reverse market(2) –

Plano, Texas (March 6, 2024): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a modern retirement solutions platform, reported financial results for the quarter and year ended December 31, 2023.

Fourth Quarter and Full Year 2023 Highlights

•Net income from continuing operations for the fourth quarter of $171 million or $0.72 basic earnings per share primarily due to non-cash, positive fair value changes on long-term assets and liabilities combined with improved results from operations.

•For the quarter, the Company recognized an adjusted net loss(1) of $20 million or $0.09 per share, an improvement of 20% over the prior quarter.

•67% improvement in adjusted net loss in Retirement Solutions in the fourth quarter driven by higher revenue margin and reduced expenses compared to the prior quarter.

•For the full year, our subsidiary, Finance of America Reverse maintained 37% share of the HECM Reverse market.(2)

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Source: https://www.newviewadvisors.com/commentary/2023-full-year-hmbs-issuer-league-tables/; measured by HMBS issuance.

Graham A. Fleming, Chief Executive Officer commented, “2023 was a transformational period for Finance of America and I want to thank our entire team for their hard work and determination over the course of the year. We completed a series of strategic transactions that helped establish the Company as the preeminent platform for homeowners 55 and older seeking to benefit from their home equity. With most of these efforts now behind us, we are excited to move forward. As a business, we are firmly positioned as the leading provider of modern retirement solutions with the potential to reach tens of millions of customers nationwide.”

1

(unaudited)

Fourth Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q4'23Q3'23Q4'23 vs Q3'23Q4'22Q4'23 vs Q4'22202320222023 vs 2022

Funded volume$446 $512 (13)%$701 (36)%$1,762 $5,076 (65)%

Total revenues276 (70)494 %65 325 %234 53 342 %

Total expenses and other, net95 102 (7)%107 (11)%392 386 2 %

Pre-tax income (loss) from continuing operations172 (173)199 %(48)458 %(167)(343)51 %

Net income (loss) from continuing operations171 (172)199 %(49)449 %(166)(326)49 %

Adjusted net income (loss)(1) (20)(25)20 %(5)(300)%(87)54 (261)%

Adjusted EBITDA(1) (18)(25)28 %1 (1,900)%(82)107 (177)%

Basic net earnings (loss) per share$0.72 $(0.74)197 %$(0.22)427 %$(0.75)$(1.03)27 %

Diluted net income (loss) per share(2) $0.55 $(0.74)174 %$(0.22)350 %$(0.75)$(1.58)53 %

Adjusted earnings (loss) per share(1) $(0.09)$(0.11)18 %$(0.03)(200)%$(0.40)$0.29 (238)%

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated on an if-converted basis except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)December 31,September 30,Variance (%)

20232023Q4 2023 vs. Q3 2023

Cash and cash equivalents$46 $66 (30)%

Securitized loans held for investment (HMBS & nonrecourse)25,821 25,098 3 %

Total assets27,108 26,397 3 %

Total liabilities26,835 26,294 2 %

Total equity272 104 162 %

•Ended the fourth quarter with cash and cash equivalents from continuing operations of $46 million. The decrease in cash was attributable to investments in our balance sheet related to non-agency production.

•Securitized loans held for investment (HMBS & nonrecourse) increased 3% as new production combined with the positive change in fair value related to market rates and spreads.

•Total assets increased 3% in line with the change in securitized loans held for investment.

•Total liabilities increased $541 million on a sequential-quarter basis primarily due to increases in HMBS obligations and nonrecourse debt, aligned to the change in securitized loans held for investment.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment primarily generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)Variance (%)

($ amounts in millions) Q4'23Q3'23Q4'23 vs Q3'23Q4'22Q4'23 vs Q4'22202320222023 vs 2022

Funded volume$446 $512 (13)%$701 (36)%$1,762 $5,076 (65)%

Total revenue41 40 3 %32 28 %149 300 (50)%

Pre-tax income (l

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FINANCE OF AMERICA REPORTS THIRD QUARTER 2023 RESULTS

– Increased funded volumes in Reverse by 18% quarter over quarter –

– Reduced corporate overhead expenses by 17% quarter over quarter –

– Finished the third quarter of 2023 with over 37% share of HECM Reverse market(1) –

Plano, Texas (November 7, 2023): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a modern retirement solutions platform, reported financial results for the quarter ended September 30, 2023.

Third Quarter 2023 Highlights

•Net loss from continuing operations of $172 million primarily due to non-cash, negative fair value changes on long-term assets and liabilities.

•For the quarter, the Company recognized an adjusted net loss(2) of $25 million or $0.11 per share as it absorbed additional losses on the Home Improvement platform and downward pressure on margins.

•Completed the sale of the operational assets of the Home Improvement platform on September 15, 2023.

•Completed the transition of the Company’s offshore fulfillment services platform in September 2023.

•During the third quarter of 2023, our subsidiary, Finance of America Reverse maintained over 37% share of the HECM Reverse market.(1)

(1) Source: https://www.newviewadvisors.com/commentary/2023q3-hmbs-issuer-league-tables-flatline/; measured by HMBS issuance

(2) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, Chief Executive Officer commented, “Finance of America remains the preeminent provider of modern retirement solutions focused on the home. During the quarter, we continued to execute against our strategic plan and lead the way in helping homeowners 55 and older benefit from their growing home equity.”

1

(unaudited)

Third Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q3’23Q2’23Q3'23 vs Q2’23Q3’22Q3'23 vs Q3'22YTD 2023YTD 20222023 vs 2022

Funded volume$512 $447 15 %$1,204 (57)%$1,315 $4,374 (70)%

Total revenues(70)(112)38 %(38)(84)%(41)(12)(242)%

Total expenses and other, net102 112 (9)%72 42 %296 280 6 %

Pre-tax loss from continuing operations(173)(224)23 %(113)(53)%(338)(295)(15)%

Net loss from continuing operations(172)(221)22 %(105)(64)%(338)(277)(22)%

Adjusted net income (loss)(1) (25)(26)4 %16 (256)%(66)61 (208)%

Adjusted EBITDA(1) (25)(26)4 %30 (183)%(63)108 (158)%

Basic net loss per share$(0.74)$(0.91)19 %$(0.25)(196)%$(1.57)$(0.81)(94)%

Diluted net loss per share(2) $(0.74)$(0.91)19 %$(0.46)(61)%$(1.57)$(1.21)(30)%

Adjusted earnings (loss) per share(1) $(0.11)$(0.12)8 %$0.09 (222)%$(0.31)$0.32 (197)%

(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

(2) Calculated on an if-converted basis except when anti-dilutive.

Balance Sheet Highlights

($ amounts in millions)September 30,June 30,Variance (%)

20232023Q3 2023 vs. Q2 2023

Cash and cash equivalents$66 $56 18 %

Securitized loans held for investment (HMBS & nonrecourse)25,098 24,812 1 %

Total assets26,397 26,549 (1)%

Total liabilities26,294 26,275 — %

Total equity104 274 (62)%

•Ended the third quarter with cash and cash equivalents from continuing operations of $66 million. The increase in cash was attributable to proceeds from recent transactions partially offset by operational losses and continued de-levering of the balance sheet.

•Securitized loans held for investment (HMBS & nonrecourse) increased 1% as new production was offset by the change in fair value related to market rates and spreads.

•Total assets decreased 1% in line with the change in assets from discontinued operations.

2

(unaudited)

Segment Results

Retirement Solutions

The Retirement Solutions segment generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)Variance (%)

($ amounts in millions) Q3'23Q2'23Q3'23 vs Q2'23Q3'22Q3'23 vs Q3'22YTD 2023YTD 20222023 vs 2022

Funded volume$512 $447 15 %$1,204 (57)%$1,315 $4,374 (70)%

Total revenue40 41 (2)%75 (47)%107 268 (60)%

Pre-tax income (loss)(20)(18)(11)%32 (163)%(47)130 (136)%

Adjusted net income (loss)(6)(5)(20)%32 (119)%(10)119 (108)%

•Funded volume increased 15% quarter over quarter as the investment in the retail platform and integration of American Advisors Group platform met the continued demand for the reverse mortgage loan product. Within our Reverse business, funded volume increased to $470 million, or up 18% from the prior quarter.

•Third quarter revenue decreased 2% from second quarter to $40 million as higher volumes were offset by increased pressure on margins due to the

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FINANCE OF AMERICA REPORTS SECOND QUARTER 2023 RESULTS

– Completed the sale of majority stake of Lender Services platform –

– Completed the sale of Title Insurance business effective July 3 –

– Finished the first half of 2023 with 39% share of HECM Reverse market(1) –

Plano, Texas (August 8, 2023): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a modern retirement solutions platform, reported financial results for the quarter ended June 30, 2023.

Second Quarter 2023 Highlights

•Net loss from continuing operations of $221 million primarily due to non-cash, negative fair value changes on long-term assets and liabilities.

•For the quarter, the Company recognized an adjusted net loss(2) of $26 million or $0.12 per fully diluted share as it absorbed additional costs to integrate the American Advisors Group (“AAG”) platform and made investments in future growth.

•Completed the sale of a majority stake of the Lender Services platform on June 30, 2023.

•Completed the sale of the Title Insurance business on July 3, 2023.

•For the first half of 2023, our subsidiary, Finance of America Reverse maintained 39% market share in the HECM Reverse market.(1)

(1) Source: https://www.newviewadvisors.com/commentary/2023-first-half-hmbs-issuer-league-tables/; Measured by HMBS issuance

(2) See the sections titled “Reconciliation to GAAP “ and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, Chief Executive Officer commented, “Finance of America delivered on each strategic initiative we set out to accomplish as we pursue our goal to help even more Americans embrace a modern retirement and understand the value and benefits of home equity. The Company is now transformed into a leading modern retirement solutions platform. After completion of the AAG integration, we believe we will be well positioned for long-term success.”

1

Second Quarter Financial Summary of Continuing Operations

($ amounts in millions, except per share data) Variance (%)Variance (%)Variance (%)

Q2’23Q1’23Q2'23 vs Q1’23Q2’22Q2'23 vs Q2'22YTD 2023YTD 20222023 vs 2022

Funded volume$447 $357 25 %$1,647 (73)%$804 $3,170 (75)%

Total revenue(112)141 (179)%(21)(433)%29 25 16 %

Total expenses and other, net112 83 35 %99 13 %195 207 (6)%

Pre-tax income (loss) from continuing operations(224)58 (486)%(120)(87)%(166)(182)9 %

Net income (loss) from continuing operations(221)55 (502)%(118)(87)%(165)(172)4 %

Adjusted net income (loss)(1) (26)(15)(73)%6 (533)%(42)44 (195)%

Adjusted EBITDA(1) (26)(12)(117)%17 (253)%(38)78 (149)%

Basic income (loss) per share$(0.91)$0.29 (414)%$(0.34)(168)%$(0.80)$(0.56)(43)%

Diluted income (loss) per share(2) $(0.91)$0.22 (514)%$(0.49)(86)%$(0.80)$(0.73)(10)%

Adjusted diluted earnings (loss) per share(2) $(0.12)$(0.08)(50)%$0.03 (500)%$(0.20)$0.23 (187)%

(1) See Reconciliation to GAAP section for a reconciliation of Adjusted net income (loss) and Adjusted EBITDA to Net income (loss).

(2) Calculated on an if-converted basis except when anti-dilutive. See Reconciliation to GAAP section for more detail.

Balance Sheet Highlights

($ amounts in millions)June 30,March 31,Variance (%)

20232023Q2 2023 vs. Q1 2023

Cash and cash equivalents$56 $69 (19)%

Securitized loans held for investment (HMBS & nonrecourse)24,812 24,998 (1)%

Total assets26,549 26,826 (1)%

Total liabilities26,275 26,336 — %

Total equity274 490 (44)%

•Ended the first quarter with cash and cash equivalents from continuing operations of $56 million. The decrease in cash was primarily attributable to operational losses during the quarter.

•Securitized loans held for investment (HMBS & nonrecourse) remained relatively flat as new production was offset by the change in fair value related to market rates and spreads.

•Total assets decreased 1% in line with the change in securitized loans held for investment.

•Total liabilities also remained flat to prior quarter, in line with the change in assets.

2

Segment Results

Retirement Solutions

The Retirement Solutions segment generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage and home improvement loans.

Variance (%)Variance (%)Variance (%)

($ amounts in millions)Q2’23Q1’23Q2’23 vs Q1’23Q2’22Q2’23 vs Q2’22YTD 2023YTD 20222023 vs 2022

Funded volume$447 $357 25 %$1,647 (73)%$804 $3,170 (75)%

Total revenue41 26 58 %83 (51)%67 192 (65)%

Pre-tax income (loss)(18)(9)(100)%32 (156)%(27)98 (128)%

Adjusted net income (loss)(5)2 (350)%31 (116)%(3)87 (103)%

•Funded volume increased 25% quarter over quarter as the Company began the operational integration of the retail platform of AAG.

•Second quarter revenue increased 58% from first quarter to $41 million due to higher volumes and a higher margin associated with the increase in volu

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FINANCE OF AMERICA REPORTS FOURTH QUARTER

AND FULL YEAR 2022 RESULTS

– Net loss for the year of $716 million or $3.06 basic loss per share entirely attributable to balance sheet adjustments and Mortgage Originations segment which has been discontinued –

– Adjusted net loss* of $61 million for the year, entirely attributable to businesses that have been discontinued or divested in first half of 2023 –

– Announced acquisition of AAG, further strengthening our market position in Reverse Mortgage Lending –

Plano, Texas (March 13, 2022): Finance of America Companies Inc., (“Finance of America” or the “Company”) (NYSE: FOA), a leading specialty finance and solutions platform, reported financial results for the quarter and year ended December 31, 2022.

Full Year 2022 Financial Highlights

•For the full year 2022, the Company recognized a net loss of $716 million or $3.06 basic loss per share. The Company recognized an adjusted net loss of $61 million.

•On an adjusted basis, the full year net loss is entirely attributable to the operational losses associated with the Mortgage Originations, Commercial Originations, and Lender Services segments. These segments are expected to be discontinued or divested by the end of Q2 2023.

•Announced the acquisition of the assets and operations of AAG, a leading reverse mortgage lender. The transaction has received regulatory approval, is scheduled to close on March 31, 2023 and is expected to create the leading U.S. reverse mortgage originator.

•Wind down of Mortgage Originations, announced in the fourth quarter of 2022, was completed in February 2023.

•During the first quarter of 2023, the Company announced the execution of definitive agreements for the sale of its Title Insurance and Commercial Originations businesses.

*See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

Graham A. Fleming, President and Interim Chief Executive Officer commented, “Thank you to all our team members for their hard work and dedication over the past 12 months. 2022 was a transformative year for FOA. We made decisions to account for uncertainty in the residential mortgage market, while continuing to invest in areas where we see solid, sustainable growth. By divesting our non-core operations and adding to our reverse lending business, we are well-positioned for future growth and will continue to invest and expand on our strategy to help Americans achieve their retirement goals.”

1

Fourth Quarter Financial Summary

($ amounts in millions, except margin and per share data) Variance (%)Variance (%)Variance (%)

Q4'22Q3'22Q4'22 vs Q3'22Q4'21Q4'22 vs Q4'21202220212022 vs 2021

SuccessorSuccessorSuccessorSuccessor Combined (1)

Funded volume$2,082 $4,187 (50)%$8,793 (76)%$19,771 $35,637 (45)%

Total revenue94 71 32 %383 (75)%573 1,736 (67)%

Total expenses and other, net220 237 (7)%364 (40)%1,112 1,552 (28)%

Pre-tax net loss(181)(305)41 %(1,362)87 %(732)(1,197)39 %

Net loss(182)(302)40 %(1,336)86 %(716)(1,177)39 %

Pre-tax income (loss) excluding impairment of goodwill, intangibles, and other assets(2)

(127)(167)24 %18 (806)%(540)184 (393)%

Adjusted net income (loss)(3) (56)(20)(180)%70 (180)%(61)308 (120)%

Adjusted EBITDA(3) (67)(17)(294)%104 (164)%(43)456 (109)%

Basic loss per share$(0.90)$(1.35)33 %$(6.61)86 %$(3.06)N/AN/A

Diluted loss per share(4)

$(0.77)$(1.35)43 %$(6.72)89 %$(3.12)N/AN/A

Adjusted diluted earnings (loss) per share(4) $(0.30)$(0.10)(200)%$0.37 (181)%$(0.32)$1.61 (120)%

(1) Financial results of combined successor and predecessor of the business combination with Replay.

(2) Calculated for each period as pre-tax income (loss) excluding impairment of goodwill, intangibles, and other assets.

(3) See Reconciliation to GAAP section for a reconciliation of Adjusted net income (loss) and Adjusted EBITDA to Net income (loss).

(4) Calculated on an if-converted basis. See Reconciliation to GAAP section for more detail.

Balance Sheet Highlights

($ amounts in millions)December 31,September 30, Variance (%)

20222022Q4 2022 vs. Q3 2022

Cash and cash equivalents$97 $169 (43)%

Securitized loans held for investment (HMBS & nonrecourse)18,569 17,658 5 %

Mortgage servicing rights (MSRs)95 103 (8)%

Total assets20,873 21,190 (1)%

Total liabilities20,468 20,615 (1)%

Total equity405 575 (30)%

Total tangible equity(1) 30 137 (78)%

(1) Total tangible equity calculated as total equity less intangible assets, net.

•Cash and cash equivalents ended the fourth quarter at $97 million. The $72 million decrease in cash was almost entirely attributable to operational losses associated with the Mortgage Originations segment.

•Securitized loans held for investment (HMBS & nonrecourse) increased by $911 million as a result of the completion of two securitizations of non-agency reverse mortgages du

foa-20221108

0001828937false00018289372022-11-082022-11-080001828937exch:XNYSus-gaap:CommonClassAMember2022-11-082022-11-080001828937exch:CBSXus-gaap:CommonClassAMember2022-11-082022-11-08

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO

SECTION 13 OF 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

November 8, 2022

Date of Report (date of earliest event reported)

FINANCE OF AMERICA COMPANIES INC.

(Exact name of registrant as specified in its charter)

Delaware 001-40308 85-3474065

(State or other jurisdiction of incorporation or organization)

(Commissions File Number)

(I.R.S. Employer Identification No.)

5830 Granite Parkway, Suite 400

Plano, Texas 75024

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: (877) 202-2666

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Class A common stock, par value $0.0001 per shareFOANew York Stock Exchange

Warrants to purchase shares of Class A Common StockFOA.WSNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.     Results of Operations and Financial Condition.

On November 8, 2022, Finance of America Companies Inc. (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2022. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.     Financial Statements and Exhibits.

Exhibit  Description

99.1*

Press Release dated, November 8, 2022

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Furnished Herewith

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Finance of America Companies Inc.

Date: November 8, 2022 By: /s/ Johan Gericke

Johan Gericke

Executive Vice President and Chief Financial Officer

foa-20220804

0001828937false00018289372022-08-042022-08-040001828937us-gaap:CommonClassAMemberexch:XNYS2022-08-042022-08-040001828937us-gaap:CommonClassAMemberexch:CBSX2022-08-042022-08-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO

SECTION 13 OF 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

August 4, 2022

Date of Report (date of earliest event reported)

FINANCE OF AMERICA COMPANIES INC.

(Exact name of registrant as specified in its charter)

Delaware 001-40308 85-3474065

(State or other jurisdiction of incorporation or organization)

(Commissions File Number)

(I.R.S. Employer Identification No.)

5830 Granite Parkway, Suite 400

Plano, Texas 75024

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: (877) 202-2666

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Class A common stock, par value $0.0001 per shareFOANew York Stock Exchange

Warrants to purchase shares of Class A Common StockFOA.WSNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.     Results of Operations and Financial Condition.

On August 4, 2022, Finance of America Companies Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2022. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.     Financial Statements and Exhibits.

Exhibit  Description

99.1*

Press Release dated, August 4, 2022

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Furnished Herewith

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Finance of America Companies Inc.

Date:August 4, 2022By: /s/ Johan Gericke

Johan Gericke

Executive Vice President and Chief Financial Officer

EX-99.1

2 d104786dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

FINANCE OF AMERICA REPORTS FIRST QUARTER 2022 RESULTS

– Net Loss for the quarter of $(64) million or $(0.14) per basic share and $(0.30) per fully diluted share due to negative fair value marks, after model assumptions were updated to account for wider spreads –

– Adjusted net income* for the quarter of $37 million or $0.20 per fully diluted share –

Plano, Texas (May 9, 2022): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a high growth, consumer and specialty lending business, reported financial results for the quarter ended March 31, 2022.

First Quarter 2022 Financial Highlights

•

For the first quarter of 2022, the Company recognized a net loss of $(64) million or $(0.14) per basic share and $(0.30) of diluted EPS.

•

Net loss includes negative changes in fair value* of $96 million, predominantly due to model assumption updates to account for widening spreads.

•

For the first quarter of 2022, the Company generated adjusted net income* of $37 million or $0.20 per fully diluted share.

•

The combined Specialty Finance and Services (SF&S) businesses produced a pre-tax loss of $(55) million inclusive of model assumption changes, and adjusted net income of $47 million, or $0.25 of adjusted fully diluted EPS*.

*

See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

“The first quarter saw interest rates increase at an unprecedented pace, and spreads also increased dramatically. To account for these changes, we updated the fair value modeling assumptions for the assets and liabilities on our balance sheet. This resulted in $96 million of negative fair value adjustments as we marked our balance sheet to reflect the higher spreads over the lifetime of the balance sheet. This resulted in a GAAP loss, however, on an adjusted basis, our combined Specialty Finance and Services segments were profitable and delivered strong results in a difficult environment for the mortgage market,” stated Patricia Cook, Chief Executive Officer.

Within SF&S, our Reverse and Commercial Originations businesses faced pressures in the first quarter as rates and spreads rose at the fastest pace in decades; however, the pipeline for both Reverse and Commercial Originations continues to be strong. Lender Services revenue declined due to the decrease in refinance volume impacting the title and title insurance businesses. This was partially offset by continued expansion in third-party clients and our diversified product set. We recently added a new tax solutions business that assists homeowners with their property tax assessments, which helps our customers lower their property tax bills. Our Home Improvement business continues to benefit our broader business as we invest in our vision to evolve from a product-centric to a customer-centric company.”

“In our Mortgage Originations business we remain focused on profitability as the market experiences rapidly rising rates and a switch to purchase volume. Our pre-tax loss was due to a precipitous drop-off in refinance volumes as rates rose rapidly in Q1. In addition, spreads on non-agency mortgage products widened substantially, resulting in a reduction in revenue. We have reconfigured the business to be profitable at much lower volumes to account for anticipated lower refinance volume. Our non-agency products continue to find traction, with volume mix growing from 18% to 22% from the prior quarter. Furthermore, we believe when refinance volumes fall there remains substantial opportunity for our loan officers and brokers to sell Reverse and Commercial products.”

“We hedged our balance sheet against rising interest rates and saw substantial hedge gains in the quarter. These gains drove higher cash balances, a substantial portion of which will be used to pay down lines of credit in the second quarter of 2022.”

1

First Quarter Financial Summary

($ amounts in millions, except per share data)

Variance (%)

Variance (%)

Q1’22

Q4’21

Q1’22 vs

Q4’21

Q1’21

Q1’22 vs

Q1’21

Successor

Successor

Predecessor

Funded volume

$ 7,153

$ 8,793

(19 )%

$ 9,514

(25 )%

Total revenue

267

383

(30 )%

508

(47 )%

Total expenses and other, net

345

364

(5 )%

382

(10 )%

Pre-tax income (loss)

(77 )

(1,362 )

94 %

125

(162 )%

Net income (loss)

(64 )

(1,336 )

95 %

124

(152 )%

Pre-tax income (loss) excluding impairment of goodwill and

intangibles assets

(77 )

18

(528 )%

125

(162 )%

Adjusted net income(1)

37

70

(47 )%

107

(65 )%

Adjusted EBITDA(1)

60

104

(42 )%

154

(61 )%

Basic loss per share

$ (0.14 )

$ (6.61 )

98 %

N/A

N/A

Diluted loss per share(2)

$ (0.30 )

$ (6.72 )

96 %

N/A

N/A

Adjusted diluted earnings per share(2)

$ 0.20

$ 0.37

(46 )%

$ 0.56

(64 )%

(1)

See Reconciliation to GAAP section for a reconciliation of Adjus

EX-99.1

2 d259924dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

FINANCE OF AMERICA REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS

– Net loss for the quarter of $1,336 million or $(6.61) per basic share and $(6.72) per fully diluted share entirely due to a $1,381 million impairment of goodwill and intangible assets –

– Adjusted net income* for the quarter of $70 million or $0.37 per fully diluted share, in line with fourth quarter earnings guidance –

Irving, Texas (March 2, 2022): Finance of America Companies Inc., (“Finance of America” or the “Company”) (NYSE: FOA), a high growth, consumer and specialty lending business, reported financial results for the quarter and year-ended December 31, 2021.

Fourth Quarter and Full Year 2021 Financial Highlights

•

Full year 2021 total originations were $35.6 billion, an increase of 9% compared to 2020 due to strong growth in Reverse and Commercial segments.

•

Total revenue for 2021 of $1,736 million represented a 4% decrease compared to the full year 2020, as a 53% increase in Specialty Finance and Services (SF&S) segments revenue almost entirely offset the decline in Mortgage revenue similarly experienced by the broader market.

•

The Company performed its annual goodwill impairment analysis as part of the year end 2021 financial statement close process. Due to a sustained decline in the Company’s stock price, the Company recognized a $1,381 million accounting impairment of the outstanding goodwill and certain intangible assets in the fourth quarter of 2021 to align the Company’s book value with a supportable control premium.

•

The above-mentioned impairment contributed to a net loss for the quarter of $1,336 million or $(6.61) of

basic EPS and $(6.72) of diluted EPS. Excluding the impairment charge and related tax benefit, the Company generated net income of $15 million for the fourth quarter of 2021.

•

For the fourth quarter of 2021, the Company generated adjusted net income* of $70 million and adjusted diluted EPS* of $0.37, in line with fourth quarter earnings guidance.

*

See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

“Finance of America delivered another solid quarter and met our guidance despite a decline in the mortgage market,” stated Patricia Cook, Chief Executive Officer. “Our SF&S businesses returned record growth in the full year and in the fourth quarter represented over 51% of our revenue and the bulk of adjusted net income. This performance by SF&S demonstrates the value of our unique business model, as these segments delivered strong revenue and earnings growth in a period where the refinance mortgage market declined.

We believe our Reverse and Commercial businesses operate in markets with systemic tailwinds and we will continue to invest in these businesses to fuel further growth. Lender Services saw an expansion in third-party clients as well as increased sales to existing clients, which lead to an increase in operating margins. We remain focused on the growth and profitability of our Home Improvement business and anticipate it will begin contributing to our bottom line in 2022.”

“In our Mortgage business we remain focused on profitability as the market pivots to purchase. Our non-agency products continue to find traction as volume grew 25% quarter over quarter and 113% year over year. Furthermore, we believe there is substantial opportunity for our loan officers and brokers to sell Reverse and Commercial products given the expected decrease in refinance volumes.”

1

Fourth Quarter Financial Summary

Variance (%)

Variance (%)

Variance (%)

Q4’21

Q3’21

Q4’21 vs

Q3’21

Q4’20

Q4’21 vs

Q4’20

2021

2020

2021 vs 2020

($ amounts in millions, except margin and per share data)

Successor

Predecessor(5)

Combined(1)

Predecessor(5)

Funded volume

$ 8,793

$ 8,988

(2 )%

$ 9,769

(10 )%

$ 35,637

$ 32,628

9 %

Total revenue

383

457

(16 )%

539

(29 )%

1,736

1,800

(4 )%

Total expenses and other, net

364

402

(9 )%

386

(6 )%

1,562

1,300

20 %

Pre-tax income (loss)

(1,362 )

55

(2576 )%

152

(996 )%

(1,196 )

500

(339 )%

Net income (loss)

(1,336 )

50

(2772 )%

152

(979 )%

(1,177 )

498

(336 )%

Pre-tax income excluding impairment of goodwill and

intangible assets(4)

18

55

(67 )%

152

(88 )%

184

500

(63 )%

Adjusted net income(2)

70

75

(7 )%

122

(43 )%

308

430

(28 )%

Adjusted EBITDA(2)

104

110

(5 )%

172

(40 )%

456

598

(24 )%

Basic earnings (loss) per share

$ (6.61 )

$ 0.36

(1936 )%

N/A

N/A

N/A

N/A

N/A

Diluted earnings (loss) per share(3)

$ (6.72 )

$ 0.22

(3155 )%

N/A

N/A

N/A

N/A

N/A

Adjusted diluted earnings per share(3)

$ 0.37

$ 0.39

(5 )%

$ 0.64

(42 )%

$ 1.61

$ 2.25

(28 )%

(1)

Financial results of combined successor and predecessor of the business combination with Replay.

(2)

See Reconciliation to GAAP section for a reco

EX-99.1

2 d238938dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

FINANCE OF AMERICA REPORTS THIRD QUARTER 2021 RESULTS

– Delivered a strong quarter with meaningful growth across all segments –

– Year to date revenue of $1.4 billion, up 7% compared to 2020 –

– Net income for the quarter of $50 million or $0.36 per basic share and $0.22 per fully diluted share –

– Adjusted Net Income* of $75 million or $0.39 per fully diluted share –

Irving, Texas (November 8, 2021): Finance of America Companies Inc., (“Finance of America” or the “Company”) (NYSE: FOA), a high growth, consumer and specialty lending business, reported financial results for the quarter ended September 30, 2021.

Third Quarter 2021 Financial Highlights

•

Strong growth across segments generated quarterly revenues of $457 million, up 17% compared to the second quarter

•

Mortgage Originations grew net rate lock volume and revenue by 15% and 8%, respectively, compared to the prior quarter

•

A second consecutive quarter of record funded volume and revenue in Reverse Originations delivered $69 million in pre-tax income, a 30% increase compared to the prior quarter

•

Record funded volume in Commercial Originations drove revenue and pre-tax income growth of 22% and 100%, respectively, compared to the prior quarter

•

Record Lender Services revenue generated pre-tax income of

$9 million, up 13%, compared to the prior quarter

•

Net income for the quarter of $50 million or $0.36 per basic share and $0.22 per fully diluted share

•

Adjusted Net Income* totaled $75 million, an increase of 32% compared to $57 million in the prior quarter

•

Adjusted diluted EPS* of $0.39, up 30% compared to the prior quarter

*

See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.

“Finance of America delivered solid growth across all segments in the third quarter, demonstrating the power of our diversified platform” stated Patricia Cook, Chief Executive Officer. “We saw strong performance across all of our businesses, reinforcing our strategic goal of building a comprehensive consumer and specialty lender that is primed for growth.”

“Our Reverse business, which serves a large, under-penetrated market, generated another consecutive quarter of record revenue and pre-tax income. Our Commercial and Lender Services segments also continued their recent growth trajectories. Strong demand for single family rental loans from both borrowers and investors helped drive volume and margin expansion. The build out of our new Home Improvement business is also progressing well, and we expect it to start contributing to the bottom line in 2022.”

“We remain laser focused on building resilience into the Mortgage business and driving meaningful, sustained growth across our other specialty finance and lender services segments through further investments. Our unmatched product offering, distribution and capital markets capabilities allow us to capture substantial lifetime household value as we continue to migrate from a product to a customer-centric organization.”

1

Third Quarter Financial Summary

Q3’21

Q2’21

Variance (%) Q3’21 vs

Q2’21

Q3’20

Variance (%) Q3’21 vs

Q3’20

YTD 2021

YTD 2020

Variance (%) 2021 vs 2020

($ amounts in millions, except margin and per share data)

Successor

Predecessor

Combined(1)

Predecessor

Funded volume

$ 8,988

$ 8,342

8 %

$ 9,170

(2 )%

$ 26,844

$ 22,857

17 %

Total revenue

457

389

17 %

607

(25 )%

1,353

1,261

7 %

Total expenses and other, net

402

403

— %

365

10 %

1,187

914

30 %

Pre-tax income (loss)

55

(14 )

493 %

242

(77 )%

166

347

(52 )%

Net income (loss)

50

(15 )

433 %

242

(79 )%

160

345

(54 )%

Adjusted net income(2)

75

57

32 %

173

(57 )%

239

307

(22 )%

Adjusted EBITDA(2)

110

87

26 %

236

(53 )%

351

424

(17 )%

Basic earnings per share

$ 0.36

$ 0.04

800 %

n/a

n/a

n/a

n/a

n/a

Diluted earnings per share(3)

$ 0.22

$ (0.05 )

540 %

$ 1.29

(83 )%

$ 0.80

$ 1.92

(58 )%

Adjusted diluted earnings per share(3)

$ 0.39

$ 0.30

30 %

$ 0.91

(57 )%

$ 1.25

$ 1.61

(22 )%

(1)

Financial results of combined successor and predecessor of the business combination with Replay.

(2)

See Reconciliation to GAAP section for a reconciliation of Adjusted Net Income and Adjusted EBITDA to Net (loss) income.

(3)

Calculated on an if-converted basis. See Reconciliation to GAAP

section for more detail.

Balance Sheet Highlights

September 30, 2021

June 30, 2021

Variance (%) Q3’21 vs Q2’21

($ amounts in millions)

Successor

Cash and cash equivalents

$ 192

$ 157

22 %

Securitized loans held for investment (HMBS & nonrecourse)

16,287

15,741

3 %

Mortgage Servicing Rights (MSR)

341

291

17 %

Total assets

22,668

22,228

2 %

Total liabilities

20,236

19,849

2 %

Total equity

2,432

2,379

2 %

Total tangible equity(1)

441

377

17 %

(1)

Total