Loan Origination Volume of $39.7 Billion. Total Gain Margin of 133 Basis Points

Announcement of $2.05 Billion Equity Investment

UWM Holdings Corporation (NYSE:UWMC) ("UWMC" or the "Company"), the publicly traded indirect parent of United Wholesale Mortgage ("UWM"), today announced its results for the second quarter ended June 30, 2026. Total loan origination volume was $39.7 billion for the second quarter 2026. The Company reported 2Q 26 total revenue of $888.0 million, net loss of $451.9 million and adjusted EBITDA of $185.9 million. The Company also announced a $2.05 billion equity capital investment by Oaktree Capital Management and SFS Group Capital, LLC, a newly formed investment vehicle wholly owned by the Ishbia family.

Mat Ishbia, Chairman, Chief Executive Officer and President of UWMC, said, "The second quarter was another quarter where we demonstrated the scale of our origination engine and industry leadership, as well as our continued commitment to serving the broker channel. I am also excited to announce our partnership with Oaktree. We’re taking decisive action to make UWM stronger, more liquid and better positioned to win for years to come. This is not just about capital. This is about bringing in a strategic partner that understands our business, understands MSRs, understands the mortgage industry and believes in the same long-term vision we have for UWM."

Second Quarter 2026 Highlights

Originations of $39.7 billion in 2Q26, compared to $44.9 billion in 1Q26 and $39.7 billion in 2Q25
Purchase originations of $23.8 billion in 2Q26, compared to $18.7 billion in 1Q26 and $27.3 billion in 2Q25
Refinance originations of $15.9 billion in 2Q26, compared to $26.3 billion in 1Q26 and $12.4 billion in 2Q25
Total gain margin of 133 bps in 2Q26 compared to 123 bps in 1Q26 and 113 bps in 2Q25
Total revenue of $888.0 million in 2Q26 compared to $901.4 million in 1Q26 and $758.7 million in 2Q25
Net loss of $451.9 million in 2Q26 compared to net income of $170.4 million in 1Q26 and net income of $314.5 million in 2Q25
Adjusted EBITDA of $185.9 million in 2Q26 compared to $160.9 million in 1Q26 and $195.7 million in 2Q25
Total equity of $1.0 billion at June 30, 2026, compared to $1.6 billion at March 31, 2026, and $1.7 billion at June 30, 2025
Unpaid principal balance of MSRs of $247.6 billion with a WAC of 5.93% at June 30, 2026, compared to $229.5 billion with a WAC of 5.90% at March 31, 2026, and $211.2 billion with a WAC of 5.51% at June 30, 2025
Ended 2Q26 with approximately $1.3 billion of available liquidity, reflecting $498.4 million of cash plus available borrowing capacity under our secured and unsecured lines of credit

Production and Income Statement Highlights (dollars in thousands, except per share amounts)

	Q2 2026			Q1 2026			Q2 2025
Loan origination volume⁽¹⁾	$	39,702,264		$	44,944,156		$	39,744,514
Total gain margin⁽¹⁾⁽²⁾		1.33	%		1.23	%		1.13	%
Total revenue	$	888,003		$	901,427		$	758,700
Net income (loss)		(451,902	)		170,374			314,479
Diluted earnings (loss) per share		(0.24	)		0.09			0.11
Adjusted diluted earnings (loss) per share⁽³⁾		(0.23	)		N/A			0.16
Adjusted net income (loss) ⁽³⁾		(366,756	)		137,154			249,429
Adjusted EBITDA⁽³⁾		185,879			160,909			195,683

(1) Key operational metric (see discussion below)
(2) Represents total loan production income divided by loan origination volume
(3) Non-GAAP metric (see discussion and reconciliations below)

Balance Sheet Highlights as of Period-end (dollars in thousands)

	Q2 2026		Q1 2026		Q2 2025
Cash and cash equivalents	$	498,407	$	423,996	$	489,984
Mortgage loans at fair value		9,619,076		10,991,101		8,040,310
Mortgage servicing rights		5,311,465		4,591,855		3,445,195
Total assets		17,940,542		19,266,244		13,886,889
Non-funding debt ⁽¹⁾		6,040,429		5,092,831		3,323,565
Total equity		985,308		1,600,901		1,747,982
Non-funding debt to equity ⁽¹⁾		6.13		3.18		1.90
(1) Non-GAAP metric (see discussion and reconciliations below)

Mortgage Servicing Rights (dollars in thousands)

	Q2 2026			Q1 2026			Q2 2025
Unpaid principal balance	$	247,648,881		$	229,503,024		$	211,237,964
Weighted average interest rate		5.93	%		5.90	%		5.51	%
Weighted average age (months)		12			17			19

Second Quarter Business and Product Highlights:

UWM LIVE!

UWM hosted its annual UWM LIVE! event, the largest trade show in the mortgage industry, bringing together over 5,000 independent mortgage brokers and real estate agents from across the country to share industry insights, strengthen partnerships and explore new products and technology. The event highlighted UWM's continued investment in innovation and broker channel success.

Vantage Score 4.0

UWM became the first mortgage lender to offer brokers access to both FICO® and VantageScore® for conventional loans. From inception to June 30, UWM originated $502 million in VantageScore® loans, representing 87% of all VantageScore loan volume across the industry. This performance highlights our commitment to innovation and expanding access to homeownership through alternative credit solutions.

Mia Enhancements

UWM expanded the capabilities of its AI-powered assistant, Mia, with new on-demand engagement options and Spanish-language support. The enhancements help brokers strengthen client relationships, improve borrower engagement and operate more efficiently throughout the loan lifecycle.

Home Equity Loans

UWM expanded its product suite with the introduction of home equity loans, giving brokers additional options to help homeowners access their available equity. The offering complements UWM's existing lending solutions and enables brokers to better serve a wider range of borrower needs.

Product and Investor Mix - Unpaid Principal Balance of Originations (dollars in thousands)

Purchase:	Q2 2026		Q1 2026		Q2 2025
Conventional	$	13,209,888	$	10,598,851	$	16,825,147
Government		8,721,020		6,622,457		8,358,290
Jumbo and other ⁽¹⁾		1,841,685		1,143,526		2,115,964
Total Purchase	$	23,772,593	$	18,664,834	$	27,299,401

Refinance:	Q2 2026		Q1 2026		Q2 2025
Conventional	$	6,011,927	$	12,113,599	$	5,082,559
Government		8,401,321		12,268,457		5,688,192
Jumbo and other ⁽¹⁾		1,516,423		1,897,266		1,674,362
Total Refinance	$	15,929,671	$	26,279,322	$	12,445,113
Total Originations	$	39,702,264	$	44,944,156	$	39,744,514

(1) Comprised of non-agency jumbo products, construction loans, and non-qualified mortgage products, including home equity loans and lines of credit ("HELOCs") (which in many instances are second liens).

Dividend

Subsequent to June 30, 2026, the Company's Board of Directors determined to suspend its quarterly dividend. The Company is committed to a disciplined capital allocation strategy and will continue to evaluate capital return opportunities as market conditions evolve and opportunities arise.

Earnings Conference Call Details

As previously announced, the Company will hold a conference call for financial analysts and investors on Thursday, August 6, 2026, at 10:30 a.m. ET to review the results. Interested parties may register for a toll-free dial-in number by visiting:

https://uwm.zoom.us/webinar/register/WN_nsViKKtxRnybVH3Db_qrkg

Please dial in at least 15 minutes in advance to ensure a timely connection to the call. Replay and supporting materials will be available on the Company's investor relations website at https://investors.uwm.com/.

Key Operational Metrics

"Loan origination volume" and "Total gain margin" are key operational metrics that the Company's management uses to evaluate the performance of the business. "Loan origination volume" is the aggregate principal of the residential mortgage loans originated by the Company during a period. "Total gain margin" represents total loan production income divided by loan origination volume for the applicable periods.

Non-GAAP Metrics

The Company's net income does not reflect the income tax provision that would otherwise be reflected if 100% of the economic interest in UWM was owned by the Company. Therefore, for comparison purposes, the Company provides "Adjusted net income (loss)," which is our pre-tax income (loss) together with an adjusted income tax provision (benefit), which is calculated as the provision for income taxes plus the tax effects of net income attributable to non-controlling interest determined using a blended statutory effective tax rate. "Adjusted net income (loss)" is a non-GAAP metric. "Adjusted diluted EPS" is defined as "Adjusted net income (loss)" divided by the weighted average number of shares of Class A common stock outstanding for the applicable period, assuming the exchange and conversion of all outstanding Class D common stock for Class A common stock, and is calculated and presented for periods in which the assumed exchange and conversion of Class D common stock to Class A common stock is anti-dilutive to EPS.

We also disclose Adjusted EBITDA, which we define as earnings before interest expense on non-funding debt, provision for income taxes, depreciation and amortization, adjusted to exclude stock-based compensation expense, the change in fair value of MSRs due to valuation inputs or assumptions, gains or losses on other interest rate derivatives, the impact of non-cash deferred compensation expense, the change in fair value of the Public and Private Warrants, the non-cash income/expense impact of the change in the Tax Receivable Agreement liability, the change in fair value of retained investment securities, and acquisition-related expenses (net of recoveries) as we believe these adjustments are not indicative of our performance or results of operations. Adjusted EBITDA includes interest expense on funding facilities, which are recorded as a component of interest expense, as these expenses are a direct operating expense driven by loan origination volume. By contrast, interest expense on non-funding debt is a function of our capital structure and is therefore excluded from Adjusted EBITDA. Non-funding debt includes the Company's senior notes, lines of credit, borrowings against investment securities, and finance leases.

In addition, we disclose "Non-funding debt" and the "Non-funding debt-to-equity ratio" as a non-GAAP metric. We define "Non-funding debt" as the total of the Company's senior notes, lines of credit, borrowings against investment securities, and finance leases and the "Non-funding debt-to-equity ratio" as total non-funding debt divided by the Company’s total equity.

Management believes that these non-GAAP metrics provide useful information to investors. These measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for any other operating performance measure calculated in accordance with GAAP and may not be comparable to a similarly titled measure reported by other companies.

The following tables set forth the reconciliations of these non-GAAP financial measures to their most directly comparable financial measure calculated in accordance with GAAP (dollars in thousands, except per share amounts):

Adjusted net income

Q2 2026

Q1 2026

Q2 2025

Earnings (loss) before income taxes

(472,921

)

177,500

329,418

Adjusted income tax (provision) benefit

106,165

(40,346

)

(79,989

)

Adjusted net income (loss)

(366,756

)

137,154

249,429

Adjusted Diluted EPS	Q2 2026		Q2 2025
Diluted weighted average Class A Common shares outstanding	337,525,247		202,133,122
Assumed pro forma conversion of Class D shares⁽¹⁾	1,264,749,262		1,396,892,510
Adjusted diluted weighted average shares outstanding⁽¹⁾	1,602,274,509		1,599,025,632

Adjusted Net Income (Loss) (in thousands)	(366,756	)	249,429
Adjusted Diluted EPS	(0.23	)	0.16
(1) Reflects the pro forma exchange and conversion of antidilutive Class D common stock to Class A common stock

Adjusted EBITDA	Q2 2026		Q1 2026		Q2 2025
Net income (loss)	(451,902	)	170,374		314,479
Interest expense on non-funding debt	86,810		70,727		50,775
Provision (benefit) for income taxes	(21,019	)	7,126		14,939
Depreciation and amortization	14,655		14,385		12,200
Stock-based compensation expense	12,494		13,162		11,729
Change in fair value of MSRs due to valuation inputs or assumptions, net	(65,056	)	(247,897	)	(3,154	)
(Gain) loss on other interest rate derivatives	603,191		138,198		(208,904	)
Deferred compensation, net	2,100		2,250		1,773
Change in fair value of Public and Private Warrants	—		—		(1,309	)
Change in Tax Receivable Agreement liability	612		1,903		3,557
Change in fair value of investment securities	558		303		(402	)
Acquisition-related expenses (net of recoveries)	3,436		(9,622	)	—
Adjusted EBITDA	185,879		160,909		195,683

Non-funding debt and non-funding debt to equity	Q2 2026		Q1 2026		Q2 2025
Senior notes	$	2,984,328	$	2,983,152	$	2,787,797
Secured lines of credit		2,950,000		2,000,000		425,000
Borrowings against investment securities		83,660		86,724		86,896
Finance lease liability		22,441		22,955		23,872
Total non-funding debt	$	6,040,429	$	5,092,831	$	3,323,565
Total equity	$	985,308	$	1,600,901	$	1,747,982
Non-funding debt to equity		6.13		3.18		1.90

Cautionary Note Regarding Forward-Looking Statements

This press release and our earnings call include forward-looking statements. These forward-looking statements are generally identified using words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "potential," "predict" and similar words indicating that these reflect our views with respect to future events. Forward-looking statements in this press release and our earnings call include statements regarding: (1) the impact the strategic partnership with Oaktree will have on UWM’s financial results; (2) our position amongst our competitors and ability to capture market share and maintain our industry leading position; (3) our beliefs regarding opportunities in the broker channel; (4) growth of the wholesale and broker channels, the impact of our strategies on such growth and the benefits to our business of such growth; (5) our growth and strategies to remain the leading mortgage lender, and the timing and drivers of that growth; (6) our expectations for future market environments, including interest rates, and the timing of such market changes; (7) our performance in shifting market conditions and the comparison of such performance against our competitors; (8) our ability to produce results in future years at or above prior levels or expectations, and our strategies for producing such results; (9) our position and ability to capitalize on market opportunities and the impacts to our results and (10) our investments in technology, including artificial intelligence, and its impact to our operations, ability to scale and financial results. These statements are based on management’s current expectations, but are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to materially differ from those stated or implied in the forward-looking statements, including: (i) UWM’s ability to successfully implement strategic decisions and product launches; (ii) UWM’s dependence on macroeconomic and U.S. residential real estate market conditions, including changes in U.S. monetary policies, more specifically caused by the Presidential Administration that affect interest rates and inflation; (iii) UWM’s reliance on its warehouse and MSR facilities and the risk of a decrease in the value of the collateral underlying certain of its facilities causing an unanticipated margin call; (iv) UWM’s ability to sell loans in the secondary market; (v) UWM’s dependence on the government-sponsored entities such as Fannie Mae and Freddie Mac; (vi) changes in the GSEs, FHA, USDA and VA guidelines or GSE and Ginnie Mae guarantees; (vii) our ability to comply with all rules and regulations in connection with the launch of our internal servicing and the new risks that may be presented as a result of the transition; (viii) UWM’s dependence on Independent Mortgage Advisors to originate mortgage loans; (ix) the risk that an increase in the value of the MBS UWM sells in forward markets to hedge its pipeline may result in an unanticipated margin call; (x) UWM’s inability to continue to grow, or to effectively manage the growth of its loan origination volume; (xi) UWM’s ability to continue to attract and retain its broker relationships; (xii) UWM’s ability to implement technological innovation, such as AI in our operations; (xiii) the occurrence of a data breach or other failure of UWM’s cybersecurity or information security systems; (xiv) reliance on third-party software and services; the occurrence of data breaches or other cybersecurity failures at our third-party sub-servicers or other third-party vendors; (xv) UWM’s ability to continue to comply with the complex state and federal laws, regulations or practices applicable to mortgage loan origination and servicing in general; and (xvi) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission including those under "Risk Factors" therein. We wish to caution readers that certain important factors may have affected and could in the future affect our results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of us. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

About UWM Holdings Corporation and United Wholesale Mortgage

Headquartered in Pontiac, Michigan, UWM Holdings Corporation ("UWMC") is the publicly traded indirect parent of United Wholesale Mortgage, LLC ("UWM"). UWM is the nation’s largest home mortgage lender, despite exclusively originating mortgage loans through the wholesale channel. UWM has been the largest wholesale mortgage lender for eleven consecutive years and is the largest purchase lender in the nation. With a culture of continuous innovation of technology and enhanced client experience, UWM leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service and focused partnership with the independent mortgage broker community. UWM originates primarily conforming and government loans across all 50 states and the District of Columbia. For more information, visit uwm.com or call 800-981-8898. NMLS #3038.

UWM HOLDINGS CORPORATION CONSOLIDATED BALANCE SHEETS (in thousands, except shares and per share amounts)

	June 30, 2026		December 31, 2025
Assets	(Unaudited)
Cash and cash equivalents (includes restricted cash of $21.0 million and $21.0 million, respectively)	$	498,407	$	503,364
Mortgage loans at fair value		9,619,076		9,932,729
Derivative assets		83,601		37,567
Investment securities at fair value, pledged		96,044		100,512
Accounts receivable, net		531,790		526,694
Mortgage servicing rights		5,311,465		4,073,781
Premises and equipment, net		174,559		180,199
Operating lease right-of-use asset (includes $90.3 million and $93.4 million with related parties)		90,930		94,310
Finance lease right-of-use asset, net (includes $19.6 million and $20.7 million with related parties)		20,116		21,247
Loans eligible for repurchase from Ginnie Mae		1,141,719		1,133,359
Other assets		372,835		324,914
Total assets	$	17,940,542	$	16,928,676
Liabilities and Equity
Warehouse lines of credit	$	8,600,078	$	8,912,496
Derivative liabilities		33,566		26,574
Secured line of credit		2,950,000		1,200,000
Borrowings against investment securities		83,660		87,497
Accounts payable, accrued expenses and other		881,997		707,790
Accrued distributions and dividends payable		160,411		161,292
Senior notes		2,984,328		2,981,975
Operating lease liability (includes $96.4 million and $99.7 million with related parties)		97,034		100,596
Finance lease liability (includes $22.0 million and $22.9 million with related parties)		22,441		23,468
Loans eligible for repurchase from Ginnie Mae		1,141,719		1,133,359
Total liabilities		16,955,234		15,335,047
Equity:
Preferred stock, $0.0001 par value - 100,000,000 shares authorized, none issued and outstanding as of June 30, 2026 or December 31, 2025		—		—
Class A common stock, $0.0001 par value - 4,000,000,000 shares authorized, 342,247,135 and 268,415,480 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively		34		27
Class B common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of June 30, 2026 or December 31, 2025		—		—
Class C common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of June 30, 2026 or December 31, 2025		—		—
Class D common stock, $0.0001 par value - 1,700,000,000 shares authorized, 1,261,862,603 and 1,331,482,620 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively		126		133
Additional paid-in capital		15,032		9,910
Retained earnings		118,646		189,447
Non-controlling interest		851,470		1,394,112
Total equity		985,308		1,593,629
Total liabilities and equity	$	17,940,542	$	16,928,676

UWM HOLDINGS CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except shares and per share amounts)

	For the three months ended
	June 30, 2026			March 31, 2026			June 30, 2025
Revenue	(Unaudited)			(Unaudited)			(Unaudited)
Loan production income	$	527,217		$	554,572		$	447,882
Loan servicing income		220,503			213,379			178,813
Interest income		140,283			133,476			132,005
Total revenue		888,003			901,427			758,700
Other gains (losses)
Change in fair value of mortgage servicing rights		(122,683	)		(10,335	)		(111,421	)
Gain (loss) on other interest rate derivatives		(603,191	)		(138,198	)		208,904
Other gains (losses), net		(725,874	)		(148,533	)		97,483
Expenses
Salaries, commissions and benefits		213,044			224,554			211,461
Direct loan production costs		72,161			60,505			46,330
Marketing, travel, and entertainment		35,588			30,878			26,379
Depreciation and amortization		14,655			14,385			12,200
General and administrative		89,748			59,034			59,999
Servicing costs		49,745			43,067			35,083
Interest expense		158,939			140,765			133,467
Other expense		1,170			2,206			1,846
Total expenses		635,050			575,394			526,765
Earnings (loss) before income taxes		(472,921	)		177,500			329,418
Provision (benefit) for income taxes		(21,019	)		7,126			14,939
Net income (loss)		(451,902	)		170,374			314,479
Net income (loss) attributable to non-controlling interest		(371,308	)		145,073			291,570
Net income (loss) attributable to UWMC	$	(80,594	)	$	25,301		$	22,909

Earnings (loss) per share of Class A common stock:
Basic	$	(0.24	)	$	0.09		$	0.11
Diluted	$	(0.24	)	$	0.09		$	0.11
Weighted average shares outstanding:
Basic		337,525,247			292,122,233			202,133,122
Diluted		337,525,247			1,600,064,853			202,133,122

Addendum to Exhibit 99.1

This addendum includes the Company's Consolidated Balance Sheets as of June 30, 2026, and the preceding four quarters and Statements of Operations for the quarter ended June 30, 2026, and the preceding four quarters for purposes of providing historical quarterly trending information to investors.

CONSOLIDATED BALANCE SHEETS (in thousands, except shares and per share amounts)

	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Assets	(Unaudited)		(Unaudited)				(Unaudited)		(Unaudited)
Cash and cash equivalents, including restricted cash	$	498,407	$	423,996	$	503,364	$	870,703	$	489,984
Mortgage loans at fair value		9,619,076		10,991,101		9,932,729		10,784,461		8,040,310
Derivative assets		83,601		124,490		37,567		91,446		59,356
Investment securities at fair value, pledged		96,044		98,491		100,512		101,277		101,627
Accounts receivable, net		531,790		1,271,014		526,694		548,090		719,369
Mortgage servicing rights		5,311,465		4,591,855		4,073,781		3,308,585		3,445,195
Premises and equipment, net		174,559		180,523		180,199		164,985		166,460
Operating lease right-of-use asset		90,930		92,616		94,310		95,957		91,004
Finance lease right-of-use asset, net		20,116		20,681		21,247		21,219		21,810
Loans eligible for repurchase from Ginnie Mae		1,141,719		1,124,020		1,133,359		749,089		564,806
Other assets		372,835		347,457		324,914		286,525		186,968
Total assets	$	17,940,542	$	19,266,244	$	16,928,676	$	17,022,337	$	13,886,889
Liabilities and Equity
Warehouse lines of credit	$	8,600,078	$	9,900,303	$	8,912,496	$	9,783,664	$	7,254,526
Derivative liabilities		33,566		337,817		26,574		41,209		76,683
Secured line of credit		2,950,000		2,000,000		1,200,000		—		425,000
Borrowings against investment securities		83,660		86,724		87,497		87,142		86,896
Accounts payable, accrued expenses and other		881,997		949,788		707,790		706,993		661,496
Accrued distributions and dividends payable		160,411		161,773		161,292		160,846		160,360
Senior notes		2,984,328		2,983,152		2,981,975		3,780,620		2,787,797
Operating lease liability		97,034		98,811		100,596		102,333		97,471
Finance lease liability		22,441		22,955		23,468		23,363		23,872
Loans eligible for repurchase from Ginnie Mae		1,141,719		1,124,020		1,133,359		749,089		564,806
Total liabilities		16,955,234		17,665,343		15,335,047		15,435,259		12,138,907
Equity:
Preferred stock, $0.0001 par value - 100,000,000 shares authorized, none issued and outstanding as of each of the periods presented		—		—		—		—		—
Class A common stock, $0.0001 par value - 4,000,000,000 shares authorized; shares issued and outstanding - 342,247,135 as of June 30, 2026, 312,883,751 as of March 31, 2026, 268,415,480 as of December 31, 2025, 234,291,930 as of September 30, 2025 and 205,979,563 as of June 30, 2025		34		31		27		23		21
Class B common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of each of the periods presented		—		—		—		—		—
Class C common stock, $0.0001 par value - 1,700,000,000 shares authorized, none issued and outstanding as of each of the periods presented		—		—		—		—		—
Class D common stock, $0.0001 par value - 1,700,000,000 shares authorized; shares issued and outstanding - 1,261,862,603 as of June 30, 2026, 1,287,482,620 as of March 31, 2026, 1,331,482,620 as of December 31, 2025, 1,365,482,620 as of September 30, 2025 and 1,393,282,620 as of June 30, 2025		126		129		133		137		139
Additional paid-in capital		15,032		12,593		9,910		7,579		5,688
Retained earnings		118,646		216,768		189,447		169,935		170,320
Non-controlling interest		851,470		1,371,380		1,394,112		1,409,404		1,571,814
Total equity		985,308		1,600,901		1,593,629		1,587,078		1,747,982
Total liabilities and equity	$	17,940,542	$	19,266,244	$	16,928,676	$	17,022,337	$	13,886,889

CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except shares and per share amounts) (Unaudited)

	For the three months ended
	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Revenue
Loan production income	$	527,217		$	554,572		$	603,364		$	542,144		$	447,882
Loan servicing income		220,503			213,379			186,392			169,019			178,813
Interest income		140,283			133,476			155,491			132,089			132,005
Total revenue		888,003			901,427			945,247			843,252			758,700
Other gains (losses)
Change in fair value of mortgage servicing rights		(122,683	)		(10,335	)		(247,617	)		(307,825	)		(111,421	)
Gain (loss) on other interest rate derivatives		(603,191	)		(138,198	)		61,409			27,813			208,904
Other gains (losses), net		(725,874	)		(148,533	)		(186,208	)		(280,012	)		97,483
Expenses
Salaries, commissions and benefits		213,044			224,554			224,192			222,760			211,461
Direct loan production costs		72,161			60,505			55,141			64,213			46,330
Marketing, travel, and entertainment		35,588			30,878			34,212			23,410			26,379
Depreciation and amortization		14,655			14,385			13,757			12,747			12,200
General and administrative		89,748			59,034			73,670			62,243			59,999
Servicing costs		49,745			43,067			46,184			33,928			35,083
Interest expense		158,939			140,765			144,833			132,084			133,467
Other expense (income)		1,170			2,206			(2,574	)		(815	)		1,846
Total expenses		635,050			575,394			589,415			550,570			526,765
Earnings (loss) before income taxes		(472,921	)		177,500			169,624			12,670			329,418
Provision (benefit) for income taxes		(21,019	)		7,126			5,140			582			14,939
Net income (loss)		(451,902	)		170,374			164,484			12,088			314,479
Net income (loss) attributable to non-controlling interest		(371,308	)		145,073			145,072			13,350			291,570
Net income (loss) attributable to UWMC	$	(80,594	)	$	25,301		$	19,412		$	(1,262	)	$	22,909

Earnings (loss) per share of Class A common stock:
Basic	$	(0.24	)	$	0.09		$	0.08		$	(0.01	)	$	0.11
Diluted	$	(0.24	)	$	0.09		$	0.08		$	(0.01	)	$	0.11
Weighted average shares outstanding:
Basic		337,525,247			292,122,233			256,913,262			221,354,499			202,133,122
Diluted		337,525,247			1,600,064,853			256,913,262			221,354,499			202,133,122

View source version on businesswire.com: https://www.businesswire.com/news/home/20260805148809/en/

For inquiries regarding UWM, please contact:

INVESTOR CONTACT

BLAKE KOLO

InvestorRelations@uwm.com

MEDIA CONTACT

NICOLE ROBERTS

Media@uwm.com