Better.com President and COO Chad Smith Honored at LA Times Studios' 2025 Orange County Executive Leadership Awards

Company Announcement: Better Home & Finance Holding Company has announced the availability of inducement grant options.

Regulatory Compliance: The inducement grants are being issued under NASDAQ Listing Rule 5635(c).

Recognition of Leadership: Chad Smith, President and COO of Better Home & Finance Holding Company, was honored at the 2025 Orange County Executive Leadership Awards for his impactful leadership in reshaping the mortgage industry.

Innovative Technology Initiatives: Under Chad's leadership, Better launched Betsy™, a voice-based AI loan assistant, and expanded its proprietary platform Tinman™, enhancing efficiency and reducing costs in the digital mortgage market.

Community Engagement: Beyond his professional achievements, Chad is dedicated to youth and education advocacy, serving on the JSerra Regents Board and supporting various nonprofits through financial contributions and volunteer work.

Company Overview: Better is recognized as the first AI-powered mortgage lender, achieving significant milestones in mortgage volume and innovation, with offerings that streamline the homebuying process across the U.S. and the UK.

Recognition of Leadership: Vishal Garg, Founder and CEO of Better Home & Finance Holding Company, has been named one of Inman's 2025 Best of Finance awardees for the second year in a row, highlighting his efforts to innovate and improve the homebuying process.

Innovative Achievements: Under Garg's leadership, Better has launched several initiatives including Betsy™, a voice-based AI loan assistant, and the Better Forever program, while also achieving significant growth with a $2.5 billion run rate on originations within six months of launching its NEO Home Loans division.

Financial Performance: Better Home & Finance reported a funded loan volume of $868 million in Q1 2025, marking a 31% increase year-over-year, with expectations for continued growth driven by advancements in their Tinman AI platform and diversification of distribution channels.

Strategic Initiatives: The company is focusing on enhancing operational efficiency through AI technology, expanding its product offerings, and managing costs to achieve profitability in the midterm, while also planning to exit non-core U.K. assets to improve financial performance.

Debt Restructuring: Better Home & Finance has restructured approximately $530 million in convertible notes, resulting in a one-time cash payment of $110 million and the issuance of $155 million in new senior secured notes due by December 31, 2028, which will create around $265 million in pre-tax equity value.

Focus on Growth and Profitability: The company aims to enhance its balance sheet and drive profitability through AI technology, with plans to increase productivity and reduce costs while continuing to innovate within the mortgage industry.

Company Announcement: Better Home & Finance Holding Company will release its first quarter 2025 results on May 12, 2025, with a conference call scheduled for May 13, 2025, at 8:30 a.m. ET.

Company Overview: Since its inception in 2016, Better has utilized its AI platform, Tinman™, to fund over $100 billion in mortgage volume and offers various mortgage products, including the "One Day Mortgage" program launched in January 2023.