# EDGAR Filing Document

**Accession Number:** 0001828937
**File Stem:** 0001628280-26-030502
**Filing Date:** 2026-5
**Character Count:** 47115
**Document Hash:** 51994765d58661427bbc828c08849c41
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-030502.hdr.sgml**: 20260505

**ACCESSION NUMBER**: 0001628280-26-030502

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260505

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260505

**DATE AS OF CHANGE**: 20260505

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Finance of America Companies Inc.
- **CENTRAL INDEX KEY:** 0001828937
- **STANDARD INDUSTRIAL CLASSIFICATION:** MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 853474065
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40308
- **FILM NUMBER:** 26943042

**BUSINESS ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 877-202-2666

**MAIL ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024

?xml version='1.0' encoding='ASCII'? foa-20260505

**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): May 5, 2026**

**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)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

---

| |
|:---|
| **5830 Granite Parkway, Suite 400** |
| **Plano, Texas 75024** |

---

**(Address of principal executive offices, including Zip Code)**

**(877) 202-2666** 

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

**Not Applicable**

**(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:

☐ 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 class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Class A Common Stock, par value $0.0001 per share** | **FOA** | **New York Stock Exchange** |
| **Class A Common Stock, par value $0.0001 per share** | **FOA** | **NYSE Texas, Inc.** |

---

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 May 5, 2026, Finance of America Companies Inc. (the "Company") issued a press release announcing its financial results for the first quarter ended March 31, 2026. 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.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit Number** | **Exhibit Description** |
| 99.1\* | <u>[Press Release, dated](foacompaniesex-99133126ear.htm)[Ma](foacompaniesex-99133126ear.htm)[y](foacompaniesex-99133126ear.htm)[5](foacompaniesex-99133126ear.htm)[, 2026](foacompaniesex-99133126ear.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Furnished Herewith

------

**SIGNATURES**

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.** | **Finance of America Companies Inc.** |
| Date: | May 5, 2026 | By: | /s/ Matthew A. Engel |
|  |  |  | Name: Matthew A. Engel |
|  |  |  | Title: Chief Financial Officer  |

---

## Exhibit 99.1

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*<sup>(1)</sup> *or $26 million of adjusted net income*<sup>(1)</sup> *for the quarter, and outpacing consensus estimates –*

*– $44 million of Adjusted EBITDA*<sup>(1)</sup> *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***<sup>(2)</sup>

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• $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.*

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Total equity increased to $438 million. Tangible equity*<sup>(1)</sup> *grew to $268 million, or $14.82 per share*<sup>(1)</sup>*.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Completed the repurchase of Blackstone's equity interest in Finance of America as of February 2026.*

<sup>(1)</sup> *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.*

<sup>(2)</sup> *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&nbsp;&nbsp;&nbsp;&nbsp;

------

 *(unaudited)*

***First Quarter Financial Summary of Continuing Operations***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *($ amounts in millions, except per share data)* | *($ amounts in millions, except per share data)* |  | **Variance (%)** |  | **Variance (%)** |
|  | **Q1'26** | **Q4'25** | **Q1'26 vs Q4'25** | **Q1'25** | **Q1'26 vs Q1'25** |
| Funded volume | $**596** | $619 | (4)% | $561 | 6% |
| Total revenues | **120** | 74 | 62% | 166 | (28)% |
| Total expenses and other, net | **84** | 96 | (13)% | 84 | —% |
| Pre-tax income (loss) from continuing operations | **36** | (22) | 264% | 82 | (56)% |
| Net income (loss) from continuing operations | **35** | (21) | 267% | 80 | (56)% |
| Adjusted net income<sup>(1)</sup> | **26** | 14 | 86% | 13 | 100% |
| Adjusted EBITDA<sup>(1)</sup> | **44** | 28 | 57% | 29 | 52% |
| Basic earnings (loss) per share | $**1.93** | $(1.30) | 248% | $3.17 | (39)% |
| Diluted earnings (loss) per share<sup>(2)</sup> | $**0.88** | $(1.30) | 168% | $2.56 | (66)% |
| Adjusted earnings per share<sup>(1)</sup> | $**1.10** | $0.69 | 59% | $0.52 | 112% |

---

<sup>(1)</sup> *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.*

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

***Balance Sheet Highlights***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *($ amounts in millions)*<sup>(1)</sup> | **March 31,** | **December 31,** | **Variance (%)** | **March 31,** | **Variance (%)** |
|  | **2026** | **2025** | **Q1'26 vs Q4'25** | **2025** | **Q1'26 vs Q1'25** |
| Cash and cash equivalents | $**108** | $90 | 20% | $52 | 108% |
| Securitized loans held for investment (HMBS & nonrecourse) | **30090** | 29162 | 3% | 28439 | 6% |
| Total assets | **31328** | 30733 | 2% | 29689 | 6% |
| Total liabilities | **30890** | 30338 | 2% | 29294 | 5% |
| Total equity | **438** | 396 | 11% | 395 | 11% |
| Tangible equity<sup>(2)</sup> | **268** | 216 | 24% | 187 | 43% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• 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.*

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Tangible equity*<sup>(2)</sup> *increased to $268 million as of March 31, 2026, an increase of 43% from March 31, 2025.*

<sup>(1)</sup> *Numbers may not foot due to rounding.*

<sup>(2)</sup> *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&nbsp;&nbsp;&nbsp;&nbsp;

------

 *(unaudited)*

**<u>Segment Results</u>**

***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)* | **Q1'26** | **Q4'25** | **Q1'26 vs Q4'25** | **Q1'25** | **Q1'26 vs Q1'25** |
| Funded volume | $**596** | $619 | (4)% | $561 | 6% |
| Total revenue | **67** | 71 | (6)% | 52 | 29% |
| Pre-tax income | **10** | 15 | (33)% | 3 | 233% |
| Adjusted net income<sup>(1)</sup> | **14** | 18 | (22)% | 9 | 56% |

---

<sup>(1)</sup> *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.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• For the quarter, funded volume increased 6% to $596 million compared to $561 million in first quarter 2025, reflecting continued demand for home equity solutions.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Total revenue increased by 29% year over year to $67 million, as revenue margins improved due to tighter spreads.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Profitability increased significantly as operating leverage improved with scale. Pre-tax income increased to $10 million from $3 million in first quarter 2025, a 233% improvement, while adjusted net income increased to $14 million from $9 million in first quarter 2025, a 56% improvement.*

***Portfolio Management***

The Portfolio Management segment primarily generates revenue in the form of net interest income and fair value changes on our portfolio assets, monetized through securitization, sale, or other financing of those assets.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | | **Variance (%)** | | **Variance (%)** |
| *($ amounts in millions)* | **Q1'26** | **Q4'25** | **Q1'26 vs Q4'25** | **Q1'25** | **Q1'26 vs Q1'25** |
| Assets under management | $**31052** | $30459 | 2% | $29418 | 6% |
| Assets excluding HMBS and nonrecourse obligations | **1513** | 1810 | (16)% | 1664 | (9)% |
| Total revenue | **66** | 16 | 313% | 129 | (49)% |
| Pre-tax income (loss) | **36** | (4) | 1000% | 105 | (66)% |
| Adjusted net income<sup>(1)</sup> | **28** | 11 | 155% | 20 | 40% |

---

<sup>(1)</sup> *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.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Pre-tax income decreased 66% year over year to $36 million, reflecting smaller positive fair value adjustments on retained interests in securitizations, partially offset by higher accreted yield on the Company's residual interests.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Adjusted net income increased 40% to $28 million compared to $20 million in first quarter 2025, reflecting improved portfolio economics and higher accreted yield.*

3&nbsp;&nbsp;&nbsp;&nbsp;

------

**Finance of America Companies Inc.**<br>**Selected Financial Information**<br>**Condensed Consolidated Statements of Financial Condition** <br>(in thousands, except share data)<br>(unaudited)<br>

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| **ASSETS** | | |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $**107656** | $89503 |
| &nbsp;&nbsp;&nbsp;Restricted cash | **268950** | 235143 |
| &nbsp;&nbsp;&nbsp;Loans held for investment, subject to HMBS related obligations, at fair value | **19321265** | 19135403 |
| &nbsp;&nbsp;&nbsp;Loans held for investment, subject to nonrecourse debt, at fair value | **10769209** | 10026177 |
| &nbsp;&nbsp;&nbsp;Loans held for investment, at fair value | **454245** | 870081 |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | **170318** | 179615 |
| &nbsp;&nbsp;Other assets, net (includes **$119,654** and $76,146 at fair value) | **236496** | 197376 |
| **TOTAL ASSETS** | $**31328139** | $30733298 |
| **LIABILITIES AND EQUITY** |  |  |
| &nbsp;&nbsp;&nbsp;HMBS related obligations, at fair value | $**19087650** | $18912226 |
| &nbsp;&nbsp;&nbsp;Nonrecourse debt, at fair value | **10450834** | 9736493 |
| &nbsp;&nbsp;&nbsp;Other financing lines of credit | **899338** | 1187699 |
| &nbsp;&nbsp;Notes payable (includes **$36,889** and $53,800 at fair value, and includes amounts due to related parties of **$87,126** as of both March 31, 2026 and December 31, 2025) | **317811** | 329929 |
| &nbsp;&nbsp;Payables and other liabilities (includes **$4,524** and $12,547 at fair value) | **134392** | 130729 |
| &nbsp;&nbsp;&nbsp;Repurchase agreement obligation, at fair value | **—** | 40595 |
| **TOTAL LIABILITIES** | **30890025** | 30337671 |
| **EQUITY** |  |  |
| &nbsp;&nbsp;Preferred Stock, $0.0001 par value; 600,000,000 shares authorized; **50,000** shares issued and outstanding as of both March 31, 2026 and December 31, 2025 | **—** |  |
| &nbsp;&nbsp;Class A Common Stock, $0.0001 par value; 6,000,000,000 shares authorized; **8,977,781** and 9,921,336 shares issued, and **8,551,931** and 7,899,344 shares outstanding | **1** | 1 |
| &nbsp;&nbsp;Class B Common Stock, $0.0001 par value; 1,000,000 shares authorized; **12** and 14 shares issued, and **12** shares outstanding as of both March 31, 2026 and December 31, 2025 | **—** |  |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | **984134** | 977816 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | **(636153)** | (653660) |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | **(285)** | (285) |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | **90417** | 71755 |
| **TOTAL EQUITY** | **438114** | 395627 |
| **TOTAL LIABILITIES AND EQUITY** | $**31328139** | $30733298 |

---

4&nbsp;&nbsp;&nbsp;&nbsp;

------

**Finance of America Companies Inc.**<br>**Selected Financial Information**<br>**Condensed Consolidated Statements of Operations**<br>(in thousands, except share data)<br>(unaudited)<br>

---

| | | | |
|:---|:---|:---|:---|
| | **Q1'26** | **Q4'25** | **Q1'25** |
| **PORTFOLIO INTEREST INCOME** | | | |
| &nbsp;&nbsp;Interest income | $**467603** | $475436 | $480602 |
| &nbsp;&nbsp;Interest expense | **(401333)** | (422676) | (410167) |
| **NET PORTFOLIO INTEREST INCOME** | **66270** | 52760 | 70435 |
| **OTHER INCOME (EXPENSE)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Net origination gains | **60887** | 64039 | 46038 |
| &nbsp;&nbsp;&nbsp;Gains on securitization of HECM tails, net | **11667** | 12375 | 10481 |
| &nbsp;&nbsp;&nbsp;Fair value changes from model amortization | **(32020)** | (35951) | (40956) |
| &nbsp;&nbsp;&nbsp;Fair value changes from market inputs or model assumptions | **19924** | (14367) | 88263 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net fair value changes on loans and related obligations** | **60458** | 26096 | 103826 |
| &nbsp;&nbsp;&nbsp;Fee income | **6112** | 7596 | 6346 |
| &nbsp;&nbsp;&nbsp;Non-funding interest expense, net | **(12698)** | (12939) | (14912) |
| **NET OTHER INCOME (EXPENSE)** | **53872** | 20753 | 95260 |
| **TOTAL REVENUES** | **120142** | 73513 | 165695 |
| **EXPENSES** |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries, benefits, and related expenses | **42604** | 37621 | 33930 |
| &nbsp;&nbsp;&nbsp;Loan production and portfolio related expenses | **17666** | 7984 | 11330 |
| &nbsp;&nbsp;&nbsp;Loan servicing expenses | **7446** | 7728 | 7741 |
| &nbsp;&nbsp;&nbsp;Marketing and advertising expenses | **13339** | 14381 | 10731 |
| &nbsp;&nbsp;&nbsp;Amortization and depreciation | **9852** | 9640 | 9658 |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | **14459** | 12154 | 12979 |
| **TOTAL EXPENSES** | **105366** | 89508 | 86369 |
| **OTHER, NET** | **21481** | (6001) | 2367 |
| **NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES** | **36257** | (21996) | 81693 |
| &nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes from continuing operations | **1093** | (686) | 1943 |
| **NET INCOME (LOSS) FROM CONTINUING OPERATIONS** | **35164** | (21310) | 79750 |
| **NET LOSS FROM DISCONTINUED OPERATIONS** | **—** | (617) | (4750) |
| **NET INCOME (LOSS)** | **35164** | (21927) | 75000 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | **17657** | (11545) | 44791 |
| **NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST** | **17507** | (10382) | 30209 |
| &nbsp;&nbsp;&nbsp;Preferred Stock dividends | **1125** | 196 |  |
| **NET INCOME (LOSS) ATTRIBUTABLE TO HOLDERS OF CLASS A COMMON STOCK** | $**16382** | $(10578) | $30209 |
| **EARNINGS (LOSS) PER SHARE** |  |  |  |
| Basic weighted average shares outstanding | **8500966** | 7894417 | 10177266 |
| Basic earnings (loss) per share from continuing operations | $**1.93** | $(1.30) | $3.17 |
| Basic earnings (loss) per share | $**1.93** | $(1.34) | $2.97 |
| Diluted weighted average shares outstanding | **19237695** | 7894417 | 30167024 |
| Diluted earnings (loss) per share from continuing operations | $**0.88** | $(1.30) | $2.56 |
| Diluted earnings (loss) per share | $**0.88** | $(1.34) | $2.43 |

---

5&nbsp;&nbsp;&nbsp;&nbsp;

------

 *(unaudited)*

***Reconciliation to GAAP***

---

| | | | |
|:---|:---|:---|:---|
| *($ amounts in millions)*<sup>(1)</sup> | **Q1'26** | **Q4'25** | **Q1'25** |
| **Reconciliation of net income (loss) from continuing operations to adjusted net income and adjusted EBITDA** |  |  |  |
| Net income (loss) from continuing operations | $**35** | $(21) | $80 |
| &nbsp;&nbsp;Add back: Benefit (provision) for income taxes | **(1)** | 1 | (2) |
| Net income (loss) from continuing operations before taxes | **36** | (22) | 82 |
| Adjustments for: |  |  |  |
| &nbsp;&nbsp;Changes in fair value<sup>(2)</sup> | **(15)** | 29 | (76) |
| &nbsp;&nbsp;Amortization of intangible assets | **9** | 9 | 9 |
| &nbsp;&nbsp;Equity-based compensation<sup>(3)</sup> | **3** | 3 | 2 |
| &nbsp;&nbsp;Certain non-recurring costs<sup>(4)</sup> | **1** | 1 |  |
| **Adjusted net income before taxes** | **35** | 20 | 18 |
| &nbsp;&nbsp;Provision for income taxes<sup>(5)</sup> | **(9)** | (5) | (5) |
| **Adjusted net income** | **26** | 14 | 13 |
| &nbsp;&nbsp;Provision for income taxes<sup>(5)</sup> | **9** | 5 | 5 |
| &nbsp;&nbsp;Depreciation | **1** |  |  |
| &nbsp;&nbsp;Interest expense on non-funding debt | **8** | 8 | 11 |
| **Adjusted EBITDA** | $**44** | $28 | $29 |
| *($ amounts in millions except shares and $ per share)* | **Q1'26** | **Q4'25** | **Q1'25** |
| **GAAP PER SHARE MEASURES** |  |  |  |
| &nbsp;&nbsp;Net income (loss) from continuing operations attributable to holders of Class A Common Stock | $**16** | $(10) | $32 |
| &nbsp;&nbsp;Weighted average outstanding share count | **8500966** | 7894417 | 10177266 |
| **Basic earnings (loss) per share from continuing operations** | $**1.93** | $(1.30) | $3.17 |
| &nbsp;&nbsp;If-converted method net income (loss) from continuing operations | $**17** | $(10) | $77 |
| &nbsp;&nbsp;Weighted average diluted share count | **19237695** | 7894417 | 30167024 |
| **Diluted earnings (loss) per share from continuing operations**<sup>(6)</sup> | $**0.88** | $(1.30) | $2.56 |
| **NON-GAAP PER SHARE MEASURES** |  |  |  |
| &nbsp;&nbsp;Adjusted net income | $**26** | $14 | $13 |
| &nbsp;&nbsp;Exchangeable secured notes interest expense<sup>(7)</sup> | **3** | 3 | 3 |
| &nbsp;&nbsp;**Total** | $**29** | $17 | $16 |
| &nbsp;&nbsp;Weighted average share count | **26004194** | 24795846 | 30167024 |
| **Adjusted earnings per share** | $**1.10** | $0.69 | $0.52 |

---

6&nbsp;&nbsp;&nbsp;&nbsp;

------

 *(unaudited)*

---

| | | | |
|:---|:---|:---|:---|
| *($ amounts in millions except shares and $ per share)*<sup>(1)</sup> | **March 31, 2026** | **December 31, 2025** | **March 31, 2025** |
| Total equity | $**438** | $396 | $395 |
| Less: Intangible assets, net | **170** | 180 | 208 |
| **Tangible equity** | $**268** | $216 | $187 |
| Class A Common Stock outstanding | **8551931** | 7899344 | 10711674 |
| Class A LLC Units (if-converted to Class A Common Stock) | **8088934** | 8381821 | 13219379 |
| Preferred Stock (if-converted to Class A Common Stock) | **1428571** | 1428571 |  |
| **Adjusted Class A Common Stock outstanding** | **18069436** | 17709736 | 23931053 |
| **Tangible equity per share** | $**14.82** | $12.20 | $7.83 |

---

<sup>(1)</sup> *Totals may not foot due to rounding.*

<sup>(2)</sup> *Changes in fair value include changes in fair value of loans, retained bonds, and related obligations due to market inputs or model assumptions, deferred purchase price liabilities, and convertible notes, and amortization of the discount on senior notes resulting from the fair value measurement at issuance.* 

<sup>(3)</sup> *Includes all equity-based compensation.*

<sup>(4)</sup> *Reflects certain non-recurring costs and adjustments that management believes should be excluded as these do not relate to a recurring part of the core business operations. These items include amounts recognized for settlement of legal and regulatory matters, acquisition or divestiture-related expenses, and other one-time charges.*

<sup>(5)</sup> *Income tax provision adjustments to apply an effective combined federal and state corporate tax rate to adjusted net income before taxes.*

<sup>(6)</sup> *Calculated using the treasury stock, if-converted, or two-class method, except when anti-dilutive.*

<sup>(7)</sup> *Represents interest expense on our exchangeable secured notes, excluding the amortization of the discount on the exchangeable secured notes. The adjustment is presented net of the related income tax benefit, calculated using our effective combined federal and state corporate tax rate, if dilutive for adjusted earnings per share.*

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 *(unaudited)*

**Adjusted Net Income (Loss) by Segment (Continuing Operations)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **For the three months ended March 31, 2026** | **For the three months ended March 31, 2026** | **For the three months ended March 31, 2026** | | |
| ($ amounts in millions except shares and $ per share)<sup>(1)</sup> | **Retirement<br>Solutions** | **Portfolio<br>Management** | **Corporate<br>& Other** | **FOA** |
| **Pre-tax income (loss)** | $**10** | $**36** | $**(10)** | $**36** |
| **Adjustments for:** |  |  |  |  |
| Changes in fair value<sup>(2)</sup> | **—** | **2** | **(17)** | **(15)** |
| Amortization of intangible assets | **9** | **—** | **—** | **9** |
| Equity-based compensation<sup>(3)</sup> | **—** | **—** | **3** | **3** |
| Certain non-recurring costs<sup>(4)</sup> | **—** | **—** | **1** | **1** |
| **Adjusted net income (loss) before taxes** | $**20** | $**39** | $**(23)** | $**35** |
| &nbsp;&nbsp;Benefit (provision) for income taxes<sup>(5)</sup> | **(5)** | **(10)** | **6** | **(9)** |
| **Adjusted net income (loss)** | $**14** | $**28** | $**(17)** | $**26** |
| &nbsp;&nbsp;Exchangeable secured notes interest expense<sup>(6)</sup> | **—** | **—** | **3** | **3** |
| **Total** | $**14** | $**28** | $**(14)** | $**29** |
| &nbsp;&nbsp;Weighted average share count | **26004194** | **26004194** | **26004194** | **26004194** |
| **Adjusted earnings (loss) per share** | $**0.56** | $**1.09** | $**(0.55)** | $**1.10** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **For the three months ended December 31, 2025** | **For the three months ended December 31, 2025** | **For the three months ended December 31, 2025** | | |
| ($ amounts in millions except shares and $ per share)<sup>(1)</sup> | **Retirement<br>Solutions** | **Portfolio<br>Management** | **Corporate<br>& Other** | **FOA** |
| **Pre-tax income (loss)** | $15 | $(4) | $(33) | $(22) |
| **Adjustments for:** |  |  |  |  |
| Changes in fair value<sup>(2)</sup> |  | 18 | 11 | 29 |
| Amortization of intangible assets | 9 |  |  | 9 |
| Equity-based compensation<sup>(3)</sup> |  |  | 2 | 3 |
| Certain non-recurring costs<sup>(4)</sup> |  |  |  | 1 |
| **Adjusted net income (loss) before taxes** | $25 | $14 | $(20) | $20 |
| &nbsp;&nbsp;Benefit (provision) for income taxes<sup>(5)</sup> | (7) | (4) | 5 | (5) |
| **Adjusted net income (loss)** | $18 | $11 | $(15) | $14 |
| &nbsp;&nbsp;Exchangeable secured notes interest expense<sup>(6)</sup> |  |  | 3 | 3 |
| **Total** | $18 | $11 | $(12) | $17 |
| &nbsp;&nbsp;Weighted average share count | 24795846 | 24795846 | 24795846 | 24795846 |
| **Adjusted earnings (loss) per share** | $0.74 | $0.43 | $(0.48) | $0.69 |

---

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 *(unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **For the three months ended March 31, 2025** | **For the three months ended March 31, 2025** | **For the three months ended March 31, 2025** | | |
| ($ amounts in millions except shares and $ per share)<sup>(1)</sup> | **Retirement<br>Solutions** | **Portfolio<br>Management** | **Corporate<br>& Other** | **FOA** |
| **Pre-tax income (loss)** | $3 | $105 | $(27) | $82 |
| **Adjustments for:** |  |  |  |  |
| Changes in fair value<sup>(2)</sup> |  | (78) | 2 | (76) |
| Amortization of intangible assets | 9 |  |  | 9 |
| Equity-based compensation<sup>(3)</sup> |  |  | 2 | 2 |
| **Adjusted net income (loss) before taxes** | $13 | $28 | $(23) | $18 |
| &nbsp;&nbsp;Benefit (provision) for income taxes<sup>(5)</sup> | (4) | (7) | 6 | (5) |
| **Adjusted net income (loss)** | $9 | $20 | $(17) | $13 |
| &nbsp;&nbsp;Exchangeable secured notes interest expense<sup>(6)</sup> |  |  | 3 | 3 |
| **Total** | $9 | $20 | $(14) | $16 |
| &nbsp;&nbsp;Weighted average share count | 30167024 | 30167024 | 30167024 | 30167024 |
| **Adjusted earnings (loss) per share** | $0.31 | $0.68 | $(0.47) | $0.52 |

---

<sup>(1)</sup> *Totals may not foot due to rounding.*

<sup>(2)</sup> *Changes in fair value include changes in fair value of loans, retained bonds, and related obligations due to market inputs or model assumptions, deferred purchase price liabilities, and convertible notes, and amortization of the discount on senior notes resulting from the fair value measurement at issuance.*

<sup>(3)</sup> *Includes all equity-based compensation.*

<sup>(4)</sup> *Reflects certain non-recurring costs and adjustments that management believes should be excluded as these do not relate to a recurring part of the core business operations. These items include amounts recognized for settlement of legal and regulatory matters, acquisition or divestiture-related expenses, and other one-time charges.*

<sup>(5)</sup> *Income tax benefit (provision) adjustments to apply an effective combined federal and state corporate tax rate to adjusted net income (loss) before taxes.* 

<sup>(6)</sup> *Represents interest expense on our exchangeable secured notes, excluding the amortization of the discount on the exchangeable secured notes. The adjustment is presented net of the related income tax benefit, calculated using our effective combined federal and state corporate tax rate, if dilutive for adjusted earnings (loss) per share.*

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**Webcast and Conference Call**

Management will host a webcast and conference call on Tuesday, May 5th at 5:00 pm Eastern Time to discuss the Company's results for the first quarter ended March 31, 2026. A copy of this press release and an accompanying investor presentation will be posted prior to the call under the "Investors" section on Finance of America's investor-oriented website at https://ir.financeofamericacompanies.com/.

To listen to the audio webcast of the conference call, please visit the "Investors" section of the Company's investor-oriented website at https://ir.financeofamericacompanies.com/. The conference call can also be accessed by dialing the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1-833-461-5787 (North America)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1-585-542-9983 (International)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Meeting ID: 720965831

**Replay**

A replay of the webcast will be available on the Company's investor-oriented website approximately two hours after the conclusion of the conference call and will remain available for a limited time. To access the replay, please visit the "Investors" section of the Company's website at https://ir.financeofamericacompanies.com/.

**About Finance of America**

Finance of America (NYSE: FOA) is a leading provider of home equity-based financing solutions for a modern retirement. In addition, Finance of America offers capital markets and portfolio management capabilities primarily to optimize the distribution of its originated loans to investors. Finance of America is headquartered in Plano, Texas. For more information, please visit Finance of America's investor-oriented website at www.financeofamericacompanies.com and Finance of America's consumer-oriented website at www.financeofamerica.com.

**Forward-Looking Statements** 

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States of America ("U.S.") Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only the Company's beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "budgets," "forecasts," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties that could cause actual outcomes or results to differ materially from those indicated in these statements, including those risks described below. Given the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be achieved. The Company cautions readers not to place undue reliance upon any forward-looking statements, which are current only as of the date of this release. Results for any specified quarter are not necessarily indicative of the results that may be expected for the full year or any future period. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events,

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conditions, or circumstances on which any such statement is based, except as required by law. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. A number of important factors exist that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors indicated in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC").

All of these factors are difficult to predict, contain uncertainties that may materially affect actual results, and may be beyond our control. New factors emerge from time to time, and it is not possible for our management to predict all such factors or to assess the effect of each such new factor on our business. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and any of these statements included herein may prove to be inaccurate. Please refer to "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 13, 2026, for further information on risk factors affecting us, as such factors may be amended and updated from time to time in the Company's subsequent periodic filings with the SEC, which are or will be accessible on the SEC's website at www.sec.gov.

**Non-GAAP Financial Measures**

The Company's management evaluates performance of the Company through the use of certain financial measures that are not prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), including adjusted net income (loss), adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA"), adjusted earnings (loss) per share, tangible equity, and tangible equity per share.

The presentation of non-GAAP measures is used to enhance investors' understanding of certain aspects of our financial performance. This discussion is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP. Management believes these key financial measures provide an additional view of our performance over the long-term and provide useful information that we use in order to maintain and grow our business.

These non-GAAP financial measures should not be considered as an alternative to net income (loss), operating cash flows, or any other performance measures determined in accordance with U.S. GAAP. Adjusted net income (loss), adjusted EBITDA, adjusted earnings (loss) per share, tangible equity, and tangible equity per share have important limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results as reported under U.S. GAAP. Some of the limitations of these metrics are: (i) cash expenditures for future contractual commitments; (ii) cash requirements for working capital needs; (iii) cash requirements for certain tax payments; and (iv) all non-cash income/expense items.

Because of these limitations, adjusted net income (loss), adjusted EBITDA, adjusted earnings (loss) per share, tangible equity, and tangible equity per share should not be considered as measures of discretionary cash available to us to invest in the growth of our business or distribute to shareholders. We compensate for these limitations by relying primarily on our U.S. GAAP results and using our non-GAAP financial measures only as a supplement. Users of our condensed consolidated financial statements are cautioned not to place undue reliance on our non-GAAP financial measures.

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***Adjusted Net Income (Loss)***

We define adjusted net income (loss) as net income (loss) from continuing operations adjusted for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Income taxes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Changes in fair value of loans, retained bonds, and related obligations due to market inputs or model assumptions, deferred purchase price liabilities, and convertible notes, and amortization of the discount on senior notes resulting from the fair value measurement at issuance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Amortization of intangible assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Equity-based compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Certain non-recurring costs and adjustments that management believes should be excluded as these do not relate to a recurring part of the core business operations. These items include amounts recognized for settlement of legal and regulatory matters, acquisition or divestiture-related expenses, and other one-time charges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.Income tax provision or benefit adjustments to apply an effective combined federal and state corporate tax rate to adjusted net income (loss) before income taxes.

Management considers adjusted net income (loss) important in evaluating our Company as a whole. This supplemental metric is utilized by our management team to assess the underlying key drivers and operational performance of the continuing operations of the business. In addition, analysts, investors, and creditors may use this measure when analyzing our operating performance and comparability to peers. Adjusted net income (loss) is not a presentation made in accordance with U.S. GAAP, and our definition and use of this measure may vary from other companies in our industry.

Adjusted net income (loss) provides visibility to the underlying operating performance by excluding the impact of certain items that management does not believe are representative of our core earnings. Adjusted net income (loss) may also include other adjustments, as applicable, based upon facts and circumstances, consistent with our intent of providing a supplemental means of evaluating our operating performance.

***Adjusted EBITDA***

We define adjusted EBITDA as net income (loss) from continuing operations adjusted for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Income taxes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Changes in fair value of loans, retained bonds, and related obligations due to market inputs or model assumptions, deferred purchase price liabilities, and convertible notes, and amortization of the discount on senior notes resulting from the fair value measurement at issuance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Amortization of intangible assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Equity-based compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Certain non-recurring costs and adjustments that management believes should be excluded as these do not relate to a recurring part of the core business operations. These items include amounts recognized for settlement of legal and regulatory matters, acquisition or divestiture-related expenses, and other one-time charges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.Depreciation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Interest expense on non-funding debt, excluding amortization of the discount on senior notes resulting from the fair value measurement at issuance.

Management considers adjusted EBITDA important in evaluating the Company as a whole. This supplemental metric is utilized by our management team to assess the underlying key drivers and operational performance of the continuing operations of the business. In addition, analysts, investors, and creditors may use this measure

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when analyzing our operating performance and comparability to peers. Adjusted EBITDA is not a presentation made in accordance with U.S. GAAP, and our definition and use of this measure may vary from other companies in our industry.

Adjusted EBITDA provides visibility to the underlying operating performance by excluding the impact of certain items that management does not believe are representative of our core earnings. Adjusted EBITDA may also include other adjustments, as applicable, based upon facts and circumstances, consistent with our intent of providing a supplemental means of evaluating our operating performance.

***Adjusted Earnings (Loss) Per Share***

We define adjusted earnings (loss) per share as adjusted net income (loss) (defined above) plus interest expense on the exchangeable senior secured notes, net of a tax effect, if dilutive for adjusted earnings (loss) per share, divided by the weighted average shares outstanding, which includes outstanding Class A Common Stock plus the Class A Units of Finance of America Equity Capital owned by the noncontrolling interest on an if-converted basis, the exchange of the exchangeable senior secured notes on an if-converted basis if they are dilutive for adjusted earnings (loss) per share, the conversion of the convertible notes on an if-converted basis, the conversion of the preferred stock on an if-converted basis, and any shares under the treasury stock method.

Management considers adjusted earnings (loss) per share important in evaluating the Company as a whole. This supplemental metric is utilized by our management team to assess the underlying key drivers and operational performance of the continuing operations of the business. In addition, analysts, investors, and creditors may use this measure when analyzing our operating performance and comparability to peers. Adjusted earnings (loss) per share is not a presentation made in accordance with U.S. GAAP, and our definition and use of this measure may vary from other companies in our industry.

A reconciliation of our forward-looking adjusted earnings per share outlook to U.S. GAAP earnings per share cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusted items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, the company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future U.S. GAAP financial results.

***Tangible Equity***

We define tangible equity as total equity less intangible assets, net. Management uses this metric to evaluate the Company's capital strength exclusive of intangible assets. We believe this measure is useful to analysts, investors, and creditors as it provides additional insight into the underlying equity position of the business. Tangible equity is not a presentation made in accordance with U.S. GAAP, and our definition and use of this measure may vary from other companies in our industry.

Tangible equity provides visibility to the underlying capital position by excluding the impact of certain items that management does not believe are representative of our core equity base. Tangible equity may also include other adjustments, as applicable, based upon facts and circumstances, consistent with our intent of providing a supplemental means of evaluating our financial strength.

***Tangible Equity Per Share***

We define tangible equity per share as tangible equity (defined above) divided by the adjusted Class A Common Stock outstanding, which is equal to the sum of shares of Class A Common Stock outstanding at quarter end, Class A LLC units if-converted to Class A Common Stock at quarter end, and Preferred Stock if-converted to Class A Common Stock at quarter end. Management uses this metric to evaluate the Company's total capital strength exclusive of intangible assets. We believe this measure is useful to analysts, investors, and creditors as it provides additional insight into the underlying equity position of the business. Tangible equity per share is not a

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presentation made in accordance with U.S. GAAP, and our definition and use of this measure may vary from other companies in our industry.

Tangible equity per share provides visibility to the total underlying capital position by excluding the impact of certain items that management does not believe are representative of our core equity base. Tangible equity per share may also include other adjustments, as applicable, based upon facts and circumstances, consistent with our intent of providing a supplemental means of evaluating our financial strength.

**Contacts**

For Finance of America Media Relations: pr@financeofamerica.com

For Finance of America Investor Relations: ir@financeofamerica.com

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