# EDGAR Filing Document

**Accession Number:** 0001556593
**File Stem:** 0001140361-25-028413
**Filing Date:** 2025-8
**Character Count:** 54944
**Document Hash:** fea9c388be2f387b1a3f9fc23e084b9b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-028413.hdr.sgml**: 20250801

**ACCESSION NUMBER**: 0001140361-25-028413

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250801

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250801

**DATE AS OF CHANGE**: 20250801

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rithm Capital Corp.
- **CENTRAL INDEX KEY:** 0001556593
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 453449660
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35777
- **FILM NUMBER:** 251176896

**BUSINESS ADDRESS:**
- **STREET 1:** 799 BROADWAY
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10003
- **BUSINESS PHONE:** (212) 850-7770

**MAIL ADDRESS:**
- **STREET 1:** 799 BROADWAY
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10003

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New Residential Investment Corp.
- **DATE OF NAME CHANGE:** 20121227

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New Residential Investment LLC
- **DATE OF NAME CHANGE:** 20121214

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spinco Inc.
- **DATE OF NAME CHANGE:** 20120821

?xml version='1.0' encoding='ASCII'?

------

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): August 1, 2025

## Rithm Capital Corp.

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
|  | **Delaware**<br>|  |
|  | **(State or other jurisdiction of incorporation)** |  |
| **001-35777**<br>|  | **45-3449660**<br>|
| **(Commission File Number)** |  | **(IRS Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **799 Broadway New York New York** | **10003**<br>|
| **(Address of principal executive offices)** | **(Zip Code)** |

---

(212) 850-7770

#### (Registrant's telephone number, including area code)

#### (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:

---

| | | |
|:---|:---|:---|
| **<u>Title of each class:</u>** | **<u>Trading</u>** <br> **<u>Symbols:</u>** | **<u>Name of each exchange on which</u>** <br> **<u>registered:</u>** |
| Common Stock, $0.01 par value per share<br>| RITM<br>| New York Stock Exchange<br>|
| 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock<br>| RITM PR A<br>| New York Stock Exchange<br>|
| 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock<br>| RITM PR B<br>| New York Stock Exchange<br>|
| 6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock<br>| RITM PR C<br>| New York Stock Exchange<br>|
| 7.00% Fixed-Rate Reset Series D Cumulative Redeemable Preferred Stock<br>| RITM PR D<br>| New York Stock Exchange<br>|

---

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 7.01 Regulation FD Disclosure.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Rithm Capital Corp. (the "Company") is filing this Item 7.01 to this Form 8-K as required by the Delaware Court of Chancery (the "Court") as further described below.

On July 25, 2024, plaintiff Arthur Adler ("Plaintiff"), a purported company stockholder, filed a complaint against the Company and the members of its board of directors (the "Board"), captioned Adler v. Nierenberg, C.A. No. 2024-0797-LWW (the "Action"). In the Action, Plaintiff alleged that the constitution of the Board violated Company's Amended and Restated Certificate of Incorporation on the basis that the classes of the Board did not consist, as nearly as may be possible, of one-third of the total number of directors constituting the entire Board. The Company and the Board completely denied the allegations in the Action and filed a motion to dismiss the Action with the Court on August 21, 2024.

As previously disclosed, on October 29, 2024, the Company announced that one director had resigned from the Board and that the Board had elected two directors, both effective as of November 1, 2024. The parties agreed that these changes mooted the claims in the Action and on December 18, 2024, the Court entered an order dismissing the Action as moot but retained jurisdiction for the purposes of resolving Plaintiff's counsel's anticipated motion for an award of attorneys' fees and expenses.

Without admitting the allegations in the complaint or any fault or wrongdoing, and solely to avoid the burden, expense, inconvenience and distraction of continued litigation, the Company agreed to pay $160,000 in attorneys' fees and expenses to Plaintiff's counsel to fully resolve any and all claims for fees and expenses, including attorneys' fees, related to the Action.

On July 30, 2025, the Court entered a Stipulation and Order closing the case (the "Order"). In connection with the Order, the Court required that the Company provide this notice. The Court was not asked to review and did not pass judgment on the amount of attorneys' fees and expenses or the service award.

If stockholders have any questions about the dismissal, they should contact Plaintiff's counsel: Christopher J. Kupka of Fields Kupka & Shukurov LLP, (212) 231-1500; Gustavo F. Bruckner of Pomerantz LLP, (212) 661-1100; and F. Troupe Mickler IV of Ashby & Geddes, P.A., (302) 654-1888. Stockholders should not contact the Court with any questions.

------

**Item 8.01. Other Events.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*Option Plan Prospectus Supplement*

On August 1, 2025, the Company filed with the Securities and Exchange Commission (the "SEC") a prospectus supplement (the "Option Plan Prospectus Supplement") to the prospectus dated August 1, 2025 included in the Company's automatic shelf registration statement on Form S-3ASR (No. 333-289162) (the "Registration Statement"). The Option Plan Prospectus Supplement was filed for the purpose of registering the issuance of securities pursuant to the Rithm Capital Corp. Nonqualified Stock Option and Incentive Award Plan (the "Plan") or in connection with resales from time to time by certain individuals who are eligible to receive such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Specifically, the Option Plan Prospectus Supplement registers 14,423,655 shares of the Company's common stock, par value $0.01 per share ("Common Stock") as to which awards have previously been granted under the Plan. The Company will receive the exercise or purchase price of certain stock-based awards under the Plan if and when such awards are exercised or purchased for cash. The Company will not receive any proceeds if the stock-based awards are exercised on a cashless basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

In connection with the filing of the Option Plan Prospectus Supplement, the Company is filing an opinion of its counsel, Skadden, Arps, Slate, Meagher & Flom LLP, regarding the legality of the securities being registered, which opinion is attached as Exhibit 5.1 to this Current Report on Form 8-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ATM Prospectus Supplement*

On August 1, 2025, the Company entered into Amendment No. 1 to the Distribution Agreement, dated August 1, 2025 (the "Distribution Agreement"), among the Company and BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC. to sell shares of Common Stock (the "ATM Shares") having an aggregate offering price of up to $500 million, of which $303,791,807 remains available for offer and sale, from time to time, through an "at-the-market" equity offering program (the "ATM Program").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The ATM Shares will be offered and sold pursuant to the Company's Registration Statement on file with the SEC. The Company filed a prospectus supplement, dated August 1, 2025, with the SEC in connection with the offer, issuance and sale of the ATM Shares (the "ATM Prospectus Supplement").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The foregoing description of the Distribution Agreement is a summary and is qualified in its entirety by reference to the full text of the Distribution Agreement, which is filed as Exhibit 1.1 to this Current Report on Form 8-K and are incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The Company is also filing this Current Report on Form 8-K to provide a legal opinion of its counsel, Skadden, Arps, Slate, Meagher & Flom LLP, regarding the legality of the securities covered by the ATM Prospectus Supplement, which opinion is attached hereto as Exhibit 5.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**Item 9.01. Financial Statements and Exhibits.** 

(d) Exhibits. The following exhibits are being filed herewith:

---

| | |
|:---|:---|
| No. | Description |
| [1.1](ny20053072x4_ex1-1.htm) | Amendment No. 1 to the Distribution Agreement, dated August 1, 2025, by and among the Company and the sales agents party thereto. |
| [5.1](ny20053072x4_ex5-1.htm) | Opinion of Skadden, Arps, Slate, Meagher & Flom LLP relating to the Option Plan Prospectus Supplement. |
| [5.2](ny20053072x4_ex5-2.htm) | Opinion of Skadden, Arps, Slate, Meagher & Flom LLP relating to the ATM Prospectus Supplement. |
| [23.1](ny20053072x4_ex5-1.htm) | Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1). |
| [23.2](ny20053072x4_ex5-2.htm) | Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.2). |
| 104 | Cover Page Interactive Data File — the cover page XBRL tags are embedded within the Inline XBRL document. |

---

------

#### 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.

---

| |
|:---|
| RITHM CAPITAL CORP. (Registrant) |
| /s/ Nicola Santoro, Jr. |
| Nicola Santoro, Jr. |
| Chief Financial Officer and Chief Accounting Officer |

---

Date: August 1, 2025

------

## Exhibit 1.1

------

#### Exhibit 1.1

#### RITHM CAPITAL CORP.

#### AMENDMENT NO. 1 TO THE

#### DISTRIBUTION AGREEMENT

August 1, 2025

BofA Securities, Inc.

One Bryant Park

New York, New York 10036

Barclays Capital Inc.

745 Seventh Avenue

New York, New York 10019

BTIG, LLC

65 East 55th Street

New York, New York 10022

Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

J.P. Morgan Securities LLC

383 Madison Avenue

New York, New York 10179

Nomura Securities International, Inc.

Worldwide Plaza

309 West 49th Street

New York, New York 10019

Raymond James & Associates, Inc.

880 Carillon Parkway

St. Petersburg, Florida 33716

RBC Capital Markets, LLC

200 Vesey Street

New York, New York 10281

Wells Fargo Securities, LLC

500 West 33rd Street, 14th Floor

New York, New York 10001

Ladies and Gentlemen:

Reference is made to that certain distribution agreement, dated August 5, 2022 (the "**Distribution Agreement**"), among BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC, Wells Fargo Securities, LLC and Rithm Capital Corp., a Delaware corporation (the "**Company**") with respect to the issuance and sale from time to time by the Company, in the manner and subject to the terms and conditions described in the Distribution Agreement, of shares of its common stock, par value $0.01 per share (the "**Shares**") having an aggregate Gross Sales Price of up to $500,000,000 (the "**Issuance Limit**") of which Shares with an aggregate gross sales price of $196,208,193 have been sold by the Company pursuant to the Distribution Agreement as of the date hereof. All capitalized terms used in this Amendment No. 1 to the Distribution Agreement (this "**Amendment**") and not otherwise defined herein shall have the respective meanings assigned to such terms in the Distribution Agreement. For the avoidance of doubt, all references to the Distribution Agreement in any document related to the transactions contemplated by the Distribution Agreement shall be to the Distribution Agreement as amended by this Amendment. BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC (each an "**Agent**" and collectively, the "**Agents**") and the Company agree as follows:

------

<br> A. <u>Amendments to Distribution Agreement</u>. The Distribution Agreement is amended as follows:

1. As contemplated by the Distribution Agreement, from and after the date hereof, the term "Registration Statement" as used in the Distribution Agreement shall include the Company's registration statement on Form S-3 (No. 333-289162) filed with the Commission on August 1, 2025; and the term "Base Prospectus," as used in the Distribution Agreement, shall mean the base prospectus included in the Prospectus most recently filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act.

2. All references in the Distribution Agreement to "Credit Suisse Securities (USA) LLC" (which entity has elected to terminate the Distribution Agreement as to itself), including its name and address appearing on page 1 of the Distribution Agreement, its name and address for notice appearing in Section 10 of the Distribution Agreement and its name and signature appearing on the signature pages of the Distribution Agreement, shall be deleted, effective as of August 1, 2025, and effective as of August 1, 2025, Credit Suisse Securities (USA) LLC shall not be an Agent under the Distribution Agreement.

<br> 3. As of the date hereof, the first sentence of the first paragraph of the Distribution Agreement is hereby deleted and replaced with the following:

"Rithm Capital Corp., a Delaware corporation (the "**Company**"), confirms its agreement with each of BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC, as agent and/or principal under any Terms Agreement (as defined in Section 1(a) below) (each an "**Agent**" or collectively, the "**Agents**"), with respect to the issuance and sale from time to time by the Company, in the manner and subject to the terms and conditions described below in this Distribution Agreement (this "**Agreement**"), of Common Stock, par value $0.01 per share (the "**Common Stock**"), of the Company, having an aggregate Gross Sales Price (as defined in Section 2(b) below) of up to $500,000,000 (the "**Maximum Amount**") on the terms set forth in Section 1 of this Agreement."

------

<br> 4. As of the date hereof, Section 10 of the Distribution Agreement is hereby deleted in its entirety and replaced with the following:

"<u>Notices</u>. All notices and other communications under this Agreement and any Terms Agreement shall be in writing and shall be deemed to have been duly given if mailed or transmitted and confirmed by any standard form of communication, and, if to the Agents, shall be sufficient in all respects if delivered or sent to (i) BofA Securities, Inc., One Bryant Park, New York, New York 10036, Attention: Syndicate Department, Fax: (646) 855-3073, with a copy to ECM Legal, Fax: (212) 230-8730, (ii) Barclays Capital Inc., 745 Seventh Avenue, New York, New York 10019, Attention: Syndicate Registration, Facsimile: (646) 834-8133, (iii) BTIG, LLC, 65 East 55th Street, New York, New York 10022, to the attention of ATM Trading Desk, email BTIGUSATMTrading@btig.com, (iv) Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013; Attention: General Counsel, Facsimile: (646) 291-1469; (v) J.P. Morgan Securities LLC 383 Madison Avenue, 7th Floor, New York, New York 10179, to the attention of Special Equities Group, with a copy to the Legal Department; (vi) Nomura Securities International, Inc., Worldwide Plaza, 309 West 49th Street, New York, New York 10019, Attention: Equity Capital Markets, Americas, email: NomuraATMExecution@nomura.com, Fax: (646) 587-9562 with a copy to the Head of IBD Legal, Fax: (646) 587-9548 (vii) Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, Attention: Equity Capital Markets, (viii) RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, Email: equityprospectus@rbccm.com, Phone: 877-822-4089; and (ix) Wells Fargo Securities, LLC at 500 West 33rd Street, New York, New York 10001, Attention: Equity Syndicate Department (fax no: (212) 214-5918); and, if to the Company, shall be directed to it at Rithm Capital Corp., 799 Broadway, New York, New York 10003, Attn: Philip Sivin (email: psivin@rithmcap.com), with a copy to Skadden, Arps, Slate, Meagher & Flom LLP, One Manhattan West, New York, New York 10001, Attention: Michael Schwartz (email michael.schwartz@skadden.com)."

<br> 5. As of the date hereof, each of Exhibit A, Exhibit B and Exhibit C to the Distribution Agreement is hereby deleted in its entirety and replaced with Exhibit A, Exhibit B or Exhibit C, respectively, attached hereto.

<br> B. <u>No Other Amendments</u>. Except as set forth in <u>Section A</u> above, all the terms and provisions of the Distribution Agreement shall continue in full force and effect.

C. <u>Counterparts and Electronic Signatures</u>. This Amendment may be signed by the parties in one or more counterparts which together shall constitute one and the same agreement among the parties. The words "execution," "signed," "signature," and words of like import in this Amendment or in any other certificate, agreement or document related to this Amendment or the Distribution Agreement shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation, "pdf," "tif" or "jpg") and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

D. <u>Governing Law</u>. **THIS AMENDMENT AND ANY CLAIM, COUNTERCLAIM OR DISPUTE OF ANY KIND OR NATURE WHATSOEVER ARISING OUT OF OR IN ANY WAY RELATING TO THIS AMENDMENT, DIRECTLY OR INDIRECTLY, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.**

*[Remainder of page intentionally left blank.]*

------

If the foregoing accurately reflects your understanding and agreement with respect to the matters described herein please indicate your agreement by countersigning this Amendment No. 1 to the Distribution Agreement in the space provided below.

---

| | | |
|:---|:---|:---|
| Very truly yours, | Very truly yours, | Very truly yours, |
| RITHM CAPITAL CORP. | RITHM CAPITAL CORP. | RITHM CAPITAL CORP. |
| By: | /s/ Nicola Santoro, Jr. | /s/ Nicola Santoro, Jr. |
|  | Name: | Nicola Santoro, Jr. |
|  | Title: | Chief Financial Officer |

---

*[Signature page to Amendment No. 1 to the Distribution Agreement]*<br>

------

Accepted and agreed to as of the date first above written:

---

| | |
|:---|:---|
| BofA Securities, Inc. | BofA Securities, Inc. |
| By: | /s/ Ray Craig |
| Name: | Ray Craig |
| Title: | Managing Director |
| Barclays Capital Inc. | Barclays Capital Inc. |
| By: | /s/ Warren Fixmer |
| Name: | Warren Fixmer |
| Title: | Managing Director |
| BTIG, LLC | BTIG, LLC |
| By: | /s/ Tosh Chandra |
| Name: | Tosh Chandra |
| Title: | Managing Director |
| Citigroup Global Markets Inc. | Citigroup Global Markets Inc. |
| By: | /s/ Hanqiong Jin |
| Name: | Hanqiong Jin |
| Title: | Managing Director |
| J.P. Morgan Securities LLC | J.P. Morgan Securities LLC |
| By: | /s/ Sanjeet Dewal |
| Name: | Sanjeet Dewal |
| Title: | Managing Director |

---

*[Signature page to Amendment No. 1 to the Distribution Agreement]*<br>

------

---

| | |
|:---|:---|
| Nomura Securities International, Inc. | Nomura Securities International, Inc. |
| By: | /s/ Jason Eisenhauer |
| Name: | Jason Eisenhauer |
| Title: | Managing Director |
| Raymond James & Associates, Inc. | Raymond James & Associates, Inc. |
| By: | /s/ Sean Wolf |
| Name: | Sean Wolf |
| Title: | Managing Director |
| RBC Capital Markets, LLC | RBC Capital Markets, LLC |
| By: | /s/ Saurabh Monga |
| Name: | Saurabh Monga |
| Title: | Managing Director, Co-Head of Spec. Fin. |
| Wells Fargo Securities, LLC | Wells Fargo Securities, LLC |
| By: | /s/ Jaime Cohen |
| Name: | Jaime Cohen |
| Title: | Managing Director |

---

*[Signature page to Amendment No. 1 to the Distribution Agreement]*<br>

------

#### Exhibit A

Rithm Capital Corp. Common Stock

#### TERMS AGREEMENT

_____________, 20__

[NAME OF APPLICABLE AGENT]

[ADDRESS OF APPLICABLE AGENT]

Dear Sirs:

Rithm Capital Corp., a Delaware corporation (the "**Company**"), proposes, subject to the terms and conditions stated herein and in the Distribution Agreement dated August 5, 2022, as amended August 1, 2025 (the "**Distribution Agreement**"), between the Company and BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC, to issue and sell to [●]<sup>1</sup> (the "**Agent**") the securities specified in the Schedule hereto (the "**Purchased Securities**"). Unless otherwise defined below, terms defined in the Distribution Agreement shall have the same meanings when used herein.

Each of the provisions of the Distribution Agreement not specifically related to the solicitation by the Agent, as agent of the Company, of offers to purchase securities is incorporated herein by reference in its entirety, and shall be deemed to be part of this Terms Agreement to the same extent as if such provisions had been set forth in full herein. Each of the representations, warranties and agreements set forth therein shall be deemed to have been made as of the date of this Terms Agreement and the Settlement Date set forth in the Schedule hereto.

An amendment to the Registration Statement or a supplement to the Prospectus, as the case may be, relating to the Purchased Securities, in the form heretofore delivered to the Agent, is now proposed to be filed with the Securities and Exchange Commission.

Subject to the terms and conditions set forth herein and in the Distribution Agreement which are incorporated herein by reference, the Company agrees to issue and sell to the Agent, and the latter agrees to purchase from the Company, the Purchased Securities at the time and place and at the purchase price set forth in the Schedule hereto.

Notwithstanding any provision of the Distribution Agreement or this Terms Agreement to the contrary, the Company consents to the Agent trading in the Common Stock for Agent's own account and for the account of its clients at the same time as sales of the Purchased Securities occur pursuant to this Terms Agreement.

*[Signature Page Follows]*

------

<sup>1</sup> Name of applicable agent.

------

If the foregoing is in accordance with your understanding, please sign and return to us a counterpart hereof, whereupon this Terms Agreement, including those provisions of the Distribution Agreement incorporated herein by reference, shall constitute a binding agreement between the Agent and the Company.

---

| | |
|:---|:---|
| RITHM CAPITAL CORP. | RITHM CAPITAL CORP. |
| By: |  |
|  | Name: |
|  | Title: |

---

Accepted and agreed as of

the date first above written:

[NAME OF APPLICABLE AGENT]

By:   <br> Name: <br> Title:

------

#### Schedule to Terms Agreement

Title of Purchased Securities:

Common Stock, par value $0.01 per share

Number of Shares of Purchased Securities:

**[**•**]** shares

Initial Price to Public:

$**[**•**]** per share

Purchase Price Payable by the Agent:

$**[**•**]** per share

Method of and Specified Funds for Payment of Purchase Price:

**[**By wire transfer to a bank account specified by the Company in same day funds.**]**

Method of Delivery:

**[**To the Agent's account, or the account of the Agent's designee, at The Depository Trust Company via DWAC in return for payment of the purchase price.**]**

Settlement Date:

**[**•**]**, 20**[**•**]**

Closing Location:

**[**•**]**

Documents to be Delivered:

The following documents referred to in the Distribution Agreement shall be delivered on the Settlement Date as a condition to the closing for the Purchased Securities (which documents shall be dated on or as of the Settlement Date and shall be appropriately updated to cover any Permitted Free Writing Prospectuses and any amendments or supplements to the Registration Statement, the Prospectus, any Permitted Free Writing Prospectuses and any documents incorporated by reference therein):

(1) the officer's certificates referred to in Section 5(a)(i);

(2) the opinion and negative assurance letter of the Company's outside counsel referred to in Section 5(a)(ii);

(3) the "comfort" letter referred to in Section 5(a)(iii);

(4) the Chief Financial Officer's certificate referred to in Section 5(a)(iv);

(5) the opinion and negative assurance letter of the Agents' counsel referred to in Section 5(b); and

(6) such other documents as the Agent shall reasonably request.

------

Time of sale: **[**•**] [**a.m./p.m.**]** (New York City time) on **[**•**]**, **[**•**]**

Time of sale information:

&nbsp;&nbsp;&nbsp;&nbsp;• The number of shares of Purchased Securities set forth above

&nbsp;&nbsp;&nbsp;&nbsp;• The initial price to public set forth above

&nbsp;&nbsp;&nbsp;&nbsp;• **[Other]** 

------

#### Exhibit B

#### Officer's Certificate of the Company

Dated __________, 20__

This Officer's Certificate (this "**Certificate**") is executed and delivered in connection with Section 5(a)(i) of the Distribution Agreement, dated August 5, 2022, as amended August 1, 2025 (the "**Agreement**"), among Rithm Capital Corp., a Delaware corporation (the "**Company**"), BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC (the "**Agents**"). All capitalized terms used but not defined herein shall have the meanings given to such terms in the Agreement.

The undersigned, [●], duly appointed and authorized [●] of the Company, hereby certifies as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each of the representations and warranties of the Company contained in the Agreement were, when originally made, and are, as of the date of this Certificate, except for those representations and warranties that speak solely as of a specific date, true and correct in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Except as waived by the Agents in writing, each of the covenants required to be performed by the Company in the Agreement on or prior to the date of the Agreement, this Representation Date, and each such other date prior to the date hereof as set forth in the Agreement, has been duly, timely and fully performed in all material respects and each condition required to be complied with by the Company on or prior to this Representation Date has been duly, timely and fully complied with in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subsequent to the date of the most recent financial statements in the Prospectus, and except as described in the Prospectus, including in the Incorporated Documents, there has been no Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No stop order suspending the effectiveness of the Registration Statement or of any part thereof has been issued, and no proceedings for that purpose have been instituted or are pending or threatened by any securities or other governmental authority (including, without limitation, the Commission).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No order suspending the effectiveness of the Registration Statement or the qualification or registration of the Shares under the securities or blue sky laws of any jurisdiction are in effect and no proceeding for such purpose is pending before, or threatened, to the Company's knowledge or in writing by, any securities or other governmental authority (including, without limitation, the Commission).

The undersigned has executed this Certificate as of the date first written above.

---

| | |
|:---|:---|
| **RITHM CAPITAL CORP.** | **RITHM CAPITAL CORP.** |
| By: |  |
|  | Name: |
|  | Title: |

---

------

#### Exhibit C

#### CFO Certificate of the Company

__________, 20___

Reference is made to the Distribution Agreement, dated August 5, 2022, as amended August 1, 2025 (the "**Distribution Agreement**"), among Rithm Capital Corp. (the "**Company**") and BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC, as agents and/or principals (the "**Agents**"). Each capitalized term used but not defined herein shall have the meaning ascribed thereto in the Distribution Agreement.

The undersigned, [●], Chief Financial Officer of the Company, in connection with the sale through the Agents, as agents, from time to time by the Company of shares of common stock of the Company, $0.01 par value per share, having an aggregate gross sales price of up to $500,000,000, pursuant to: (i) a prospectus supplement dated August 1, 2025; (ii) the base prospectus dated August 1, 2025 (collectively, the "**Prospectus**"); and (iii) the Distribution Agreement, hereby certifies, in his capacity as Chief Financial Officer of the Company, that:

<br> 1) I am the duly elected, qualified and acting Chief Financial Officer of the Company and am providing this certificate to the Agents based on my examination of the Company's financial records and schedules.

<br> 2) I have read the Prospectus.

<br> 3) I have supervised the compilation of and reviewed the circled information contained on certain pages of, or incorporated by reference in, the Prospectus, attached hereto as *<u>Exhibit A</u>*.

<br> 4) The circled information in *<u>Exhibit A</u>* hereto is correct, complete and accurate in all material respects.

<br> 5) This certificate is to assist the Agents in conducting and documenting their investigation of the affairs of the Company in connection with the transactions contemplated by the Distribution Agreement.

\* \* \*

------

IN WITNESS WHEREOF, I have hereunto set my hand as of the date first written above.

  <br> Name: <br> Title: Chief Financial Officer

------

## Exhibit 5.1

------

#### Exhibit 5.1

Skadden, Arps, Slate, Meagher & Flom llp

ONE MANHATTAN WEST

NEW YORK, NY 10001

TEL: (212) 735-3000

FAX: (212) 735-2000

www.skadden.com

FIRM/AFFILIATE OFFICES ----------- BOSTON CHICAGO HOUSTON LOS ANGELES PALO ALTO WASHINGTON, D.C. WILMINGTON ----------- ABU DHABI BEIJING BRUSSELS FRANKFURT HONG KONG LONDON MUNICH PARIS SÃO PAULO SEOUL SINGAPORE TOKYO TORONTO

August 1, 2025

Rithm Capital Corp.

799 Broadway

New York, New York 10003

<br> Re: Rithm Capital Corp.<br> <u>Registration Statement on Form S-3 (File No. 333-289162)</u>

Ladies and Gentlemen:

We have acted as special United States counsel to Rithm Capital Corp., a Delaware corporation (the "Company"), in connection with the registration of up to 14,423,655 shares of the Company's common stock, par value $0.01 per share ("Common Stock"), consisting of an aggregate of 14,423,655 shares of Common Stock (the "Shares") which may be issued upon the exercise of stock options granted under the Rithm Capital Corp. Nonqualified Stock Option and Incentive Award Plan adopted as of February 16, 2023 (as amended and/or restated as of the date hereof, the "Plan").

This opinion letter is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act of 1933 (the "Securities Act").

------

Rithm Capital Corp.

August 1, 2025

In rendering the opinions stated herein, we have examined and relied upon the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the registration statement on Form S-3 (File No. 333-289162) of the Company relating to, among other things, the issuance and sale of the Shares from time to time, filed on August 1, 2025 with the Securities and Exchange Commission (the "Commission") under the Securities Act allowing for delayed offerings pursuant to Rule 415 of the General Rules and Regulations under the Securities Act (the "Rules and Regulations"), including the information deemed to be a part of the registration statement pursuant to Rule 430B of the Rules and Regulations (such registration statement being hereinafter referred to as the "Registration Statement");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the prospectus, dated August 1, 2025 (the "Base Prospectus"), which forms a part of and is included in the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the prospectus supplement, dated August 1, 2025 (together with the Base Prospectus, the "Prospectus"), relating to the offering of the Shares, in the form filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; an executed copy of a certificate of Philip Sivin, Secretary of the Company, dated the date hereof (the "Secretary's Certificate");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of the Company's Amended and Restated Certificate of Incorporation (the "Amended and Restated Certificate"), certified by the Secretary of State of the State of Delaware as of July 31, 2025, and certified pursuant to the Secretary's Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of the Company's Amended and Restated Bylaws, as amended and in effect as of August 1, 2025 (the "Amended and Restated Bylaws"), and certified pursuant to the Secretary's Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of certain resolutions of the Board of Directors of the Company relating to adoption of the Plan, adopted on February 7, 2023, certified pursuant to the Secretary's Certificate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of certain resolutions of the Board of Directors of the Company relating to the sale or resale (as the case may be) of the Shares, adopted on July 31, 2025, in each case certified pursuant to the Secretary's Certificate.

We have also examined originals or copies, certified or otherwise identified to our satisfaction, of such records of the Company and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of the Company and others, and such other documents as we have deemed necessary or appropriate as a basis for the opinion stated below.

------

Rithm Capital Corp.

August 1, 2025

In our examination, we have assumed the genuineness of all signatures, including electronic signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photocopied copies, and the authenticity of the originals of such copies. In making our examination of executed documents, we have assumed that the parties thereto, other than the Company, had the power, corporate or other, to enter into and perform all obligations thereunder and have also assumed the due authorization by all requisite action, corporate or other, and the execution and delivery by such parties of such documents and the validity and binding effect thereof on such parties. As to any facts relevant to the opinion stated herein that we did not independently establish or verify, we have relied upon statements and representations of officers and other representatives of the Company and others and of public officials, including the facts and conclusions set forth in the Amended and Restated Certificate and the Secretary's Certificate.

We do not express any opinion with respect to the laws of any jurisdiction other than the General Corporation Law of the State of Delaware (the "DGCL"). The Shares may be sold from time to time on a delayed or continuous basis, and this opinion is limited to the laws, including the rules and regulations, as in effect on the date hereof, which laws are subject to change with possible retroactive effect.

Based upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that the Shares have been duly authorized by all requisite corporate action on the part of the Company under the DGCL, and when issued in accordance with the Plan, will be validly issued, fully paid and nonassessable.

In addition, in rendering the foregoing opinion we have assumed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; that each agreement under which options are granted or awards of shares of Common Stock are made pursuant to the Plan is consistent with the Plan and has been duly authorized, executed and delivered by the parties thereto (including the Company);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the due and proper exercise of any outstanding stock options granted under the Plan in accordance with the terms thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; that the consideration received by the Company in respect of the issuance of all Shares has or will be as determined by the Board of Directors and was or will not be less than the par value of the Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; that an appropriate account statement evidencing the Shares credited to the recipient's account maintained with the Company's transfer agent will be issued by the Company's transfer agent and the issuance of the Shares will be properly recorded in the books and records of the Company;

------

Rithm Capital Corp.

August 1, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; that the Company's issuance of the Securities does not (i) except to the extent expressly stated in the opinion contained herein, violate any statute to which the Company or such issuance is subject, or (ii) constitute a violation of, or a breach under, or require the consent or approval of any other person under, any agreement or instrument binding on the Company (except that we do not make this assumption with respect to the Amended and Restated Certificate or the Amended and Restated Bylaws and those agreements or instruments expressed to be governed by the laws of the State of New York which are listed in Part II of the Registration Statement or the Company's Annual Report on Form 10-K for the year ended December 31, 2024, although we have assumed compliance with any covenant, restriction or provision with respect to financial ratios or tests or any aspect of the financial condition or results of operations of the Company contained in such agreements or instruments), and we have further assumed that the Company will continue to have sufficient authorized shares of Common Stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Company's authorized capital stock is as set forth in the Amended and Restated Certificate, and we have relied solely on the certified copy thereof issued by the Secretary of State of the State of Delaware and have not made any other inquiries or investigations.

We hereby consent to the reference to our firm under the heading "Legal Matters" in the Prospectus. We also hereby consent to the filing of this opinion letter with the Commission as an exhibit to the Company's Current Report on Form 8-K being filed on the date hereof and incorporated by reference into the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations. This opinion letter is expressed as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.

---

| |
|:---|
| Very truly yours, |
| /s/ Skadden, Arps, Slate, Meagher & Flom LLP |

---

MJS

------

## Exhibit 5.2

#### Exhibit 5.2

Skadden, Arps, Slate, Meagher & Flom llp

ONE MANHATTAN WEST

NEW YORK, NY 10001

TEL: (212) 735-3000

FAX: (212) 735-2000

www.skadden.com

FIRM/AFFILIATE OFFICES ----------- BOSTON CHICAGO HOUSTON LOS ANGELES PALO ALTO WASHINGTON, D.C. WILMINGTON ----------- ABU DHABI BEIJING BRUSSELS FRANKFURT HONG KONG LONDON MUNICH PARIS SÃO PAULO SEOUL SINGAPORE TOKYO TORONTO

August 1, 2025

Rithm Capital Corp.

799 Broadway

New York, New York 10003

<br> Re: <u>Rithm Capital Corp.—Offering of Common Stock</u>

Ladies and Gentlemen:

We have acted as special United States counsel to Rithm Capital Corp., a Delaware corporation (the "Company"), in connection with the Distribution Agreement, dated August 5, 2022, as amended by Amendment No. 1 to the Distribution Agreement, dated August 1, 2025 (the "Distribution Agreement"), among BofA Securities, Inc., Barclays Capital Inc., BTIG, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Nomura Securities International, Inc., Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC (collectively, the "Sales Agents") and the Company, relating to the issuance and sale by the Company to or through the Sales Agents, from time to time, of shares of the Company's common stock, par value $0.01 per share ("Common Stock"), having an aggregate offering price of up to $500,000,000 (the "Securities"), of which $303,791,807 is remaining. .

This opinion letter is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act of 1933 (the "Securities Act").

------

Rithm Capital Corp.

August 1, 2025

In rendering the opinion stated herein, we have examined and relied upon the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the registration statement on Form S-3 (File No. 333-289162) of the Company relating to Common Stock and other securities of the Company filed on August 1, 2025 with the Securities and Exchange Commission (the "Commission") under the Securities Act allowing for delayed offerings pursuant to Rule 415 of the General Rules and Regulations under the Securities Act (the "Rules and Regulations"), including the information deemed to be a part of the registration statement pursuant to Rule 430B of the Rules and Regulations (such registration statement being hereinafter referred to as the "Registration Statement");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the prospectus, dated August 1, 2025 (the "Base Prospectus"), which forms a part of and is included in the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the prospectus supplement, dated August 1, 2025 (together with the Base Prospectus, the "Prospectus"), relating to the offering of the Securities, in the form filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; an executed copy of the Distribution Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; an executed copy of a certificate of Philip Sivin, Secretary of the Company, dated the date hereof (the "Secretary's Certificate");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of the Company's Amended and Restated Certificate of Incorporation (the "Amended and Restated Certificate"), certified by the Secretary of State of the State of Delaware as of July 31, 2025, and certified pursuant to the Secretary's Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of the Company's Amended and Restated Bylaws, as amended and in effect as of August 1, 2025 (the "Amended and Restated Bylaws"), and certified pursuant to the Secretary's Certificate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of certain resolutions of the Board of Directors of the Company, adopted on July 31, 2025, certified pursuant to the Secretary's Certificate.

We have also examined originals or copies, certified or otherwise identified to our satisfaction, of such records of the Company and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of the Company and others, and such other documents as we have deemed necessary or appropriate as a basis for the opinion stated below. We have assumed that the issuance of the Securities does not violate or conflict with any agreement or instrument binding on the Company (except that we do not make this assumption with respect to the Amended and Restated Certificate or the Amended and Restated Bylaws and those agreements or instruments expressed to be governed by the laws of the State of New York which are listed in Part II of the Registration Statement or the Company's Annual Report on Form 10-K for the year ended December 31, 2024).

------

Rithm Capital Corp.

August 1, 2025

In our examination, we have assumed the genuineness of all signatures, including electronic signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photocopied copies, and the authenticity of the originals of such copies. As to any facts relevant to the opinion stated herein that we did not independently establish or verify, we have relied upon statements and representations of officers and other representatives of the Company and others and of public officials, the facts and conclusions set forth in the Secretary's Certificate and the factual representations and warranties set forth in the Distribution Agreement.

We do not express any opinion with respect to the laws of any jurisdiction other than the General Corporation Law of the State of Delaware (the "DGCL"). The Shares may be sold from time to time on a delayed or continuous basis, and this opinion is limited to the laws, including the rules and regulations, as in effect on the date hereof, which laws are subject to change with possible retroactive effect.

As used herein, "Organizational Documents" means those documents listed in paragraphs (f) and (g) above.

Based upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that:

The Securities have been duly authorized by all requisite corporate action on the part of the Company under the DGCL and when issued and sold in accordance with the Distribution Agreement, will be validly issued, fully paid and nonassessable, provided that the consideration therefor is not less than $0.01 per share of Common Stock.

In addition, in rendering the foregoing opinion we have assumed that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Company's issuance of the Securities does not and will not (i) except to the extent expressly stated in the opinions contained herein, violate any statute to which the Company or such issuance is subject, or (ii) constitute a violation of, or a breach under, or require the consent or approval of any other person under, any agreement or instrument binding on the Company (except that we do not make this assumption with respect to the Organizational Documents or those agreements or instruments expressed to be governed by the laws of the State of New York which are listed in Part II of the Registration Statement, although we have assumed compliance with any covenant, restriction or provision with respect to financial ratios or tests or any aspect of the financial condition or results of operations of the Company contained in such agreements or instruments), and we have further assumed that the Company will continue to have sufficient authorized shares of Common Stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Company's authorized capital stock is as set forth in the Amended and Restated Certificate, and we have relied solely on the certified copy thereof issued by the Secretary of State of the State of Delaware and have not made any other inquiries or investigations.

------

Rithm Capital Corp.

August 1, 2025

We hereby consent to the reference to our firm under the heading "Legal Matters" in the Prospectus. We also hereby consent to the filing of this opinion letter with the Commission as an exhibit to the Company's Current Report on Form 8-K being filed on the date hereof and incorporated by reference into the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations. This opinion letter is expressed as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.

---

| |
|:---|
| Very truly yours, |
| /s/ Skadden, Arps, Slate, Meagher & Flom LLP |

---

MJS

------