Strategic Growth Plan To Be The Very Best Commercial Real Estate Capital Markets Company In The World

Walker & Dunlop, Inc. (NYSE:WD) is hosting an Investor Day on Tuesday March 10, 2026 to unveil the Journey to '30, a new five-year strategic plan outlining the firm's vision, growth strategy, and financial targets to be achieved by 2030.

Walker & Dunlop's senior leadership team will present the roadmap to being the very best commercial real estate capital markets company in the world. The presentations will provide investors with insight into the company's strategy and the initiatives expected to drive long-term shareholder value.

Chairman and Chief Executive Officer Willy Walker commented, "Since going public in 2010, Walker & Dunlop's growth and success is underpinned by setting and achieving ambitious five-year growth plans. The vision and execution by our team have built one of the most significant platforms in the commercial real estate capital markets industry." Walker continued, "As we enter the next commercial real estate cycle, we are setting ambitious goals in The Journey to '30 to seize the extraordinary opportunity ahead for our clients, our team, and our shareholders."

Journey to '30 Financial Targets

As part of the company's long-term strategy Walker & Dunlop will outline financial and operational targets to be achieved for the full year 2030, including:

$115 billion of total transaction volumes
$2+ billion of total revenues
$8.00 to $10.00 of diluted earnings per share
$400 million to $500 million of adjusted EBITDA¹

This is a non-GAAP financial measure. For a reconciliation of the measure to GAAP net income, refer to the section of this press release titled "Non-GAAP Financial Measures" and "Adjusted Financial Measure Reconciliation to GAAP."

The presentations will provide additional insight into how the company plans to expand its platform, deepen client relationships, and achieve its mission.

Investor Day Program

Walker & Dunlop's Investor Day will feature presentations from members of the company's executive leadership team and industry experts. The event will include in-depth discussions on Walker & Dunlop's strategy, business segments, and the key initiatives that will drive the company's next phase of growth.

Live Webcast

Investors, analysts, and members of the public are invited to watch the live webcast of the event.

March 10, 2026

9 a.m. – Noon ET

Webcast: https://event.webcasts.com/viewer/event.jsp?ei=1750980&tp_key=f446664d65

Presentation materials and a replay of the webcast will also be available following the event on the Investor Relations section of Walker & Dunlop's website.

About Walker & Dunlop

Walker & Dunlop (NYSE:WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.

Non-GAAP Financial Measures

To supplement our financial statements presented in accordance with United States generally accepted accounting principles ("GAAP"), the Company uses adjusted EBITDA, which is a non-GAAP financial measure. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. When analyzing our operating performance, readers should use adjusted EBITDA in addition to, and not as an alternative for, net income.

Adjusted EBITDA represents net income before income taxes, interest expense on our corporate debt, and amortization and depreciation, adjusted for provision (benefit) for credit losses, net write-offs based on the final resolution of the defaulted loans or collateral, loan repurchase losses, stock-based compensation, the fair value of expected net cash flows from servicing, net of guaranty obligation, the write-off of the unamortized balance of deferred issuance costs associated with the repayment of a portion of our corporate debt, goodwill impairment, and contingent consideration liability fair value adjustments when the fair value adjustment is a triggering event for a goodwill impairment assessment. Furthermore, adjusted EBITDA is not intended to be a measure of free cash flow for our management's discretionary use, as it does not reflect certain cash requirements such as tax and debt service payments. The amounts shown for adjusted EBITDA may also differ from the amounts calculated under similarly titled definitions in our debt instruments, which are further adjusted to reflect certain other cash and non-cash charges that are used to determine compliance with financial covenants. Because not all companies use identical calculations, our presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies.

We use adjusted EBITDA to evaluate the operating performance of our business, for comparison with forecasts and strategic plans and for benchmarking performance externally against competitors. We believe that this non-GAAP measure, when read in conjunction with the Company's GAAP financial information, provide useful information to investors by offering:

the ability to make more meaningful period-to-period comparisons of the Company's on-going operating results;
the ability to better identify trends in the Company's underlying business and perform related trend analyses; and
a better understanding of how management plans and measures the Company's underlying business.

We believe that this non-GAAP financial measure has limitations in that it does not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP and that this non-GAAP financial measure should only be used to evaluate the Company's results of operations in conjunction with the Company's GAAP financial information. For more information on adjusted EBITDA, refer to the section of this press release below titled "Adjusted Financial Measure Reconciliation to GAAP."

Forward-Looking Statements

Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, or intentions. The forward-looking statements contained in this press release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed or contemplated in any forward-looking statement.

While forward-looking statements reflect our good faith projections, assumptions and expectations, they are not guarantees of future results. Furthermore, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by applicable law. Factors that could cause our results to differ materially include, but are not limited to: (1) general economic conditions and multifamily and commercial real estate market conditions, (2) changes in interest rates, (3) regulatory and/or legislative changes to Freddie Mac, Fannie Mae or HUD, (4) our ability to retain and attract loan originators and other professionals, (5) success of our various investments funded with corporate capital, (6) changes in federal government fiscal and monetary policies, including any constraints or cuts in federal funds allocated to HUD for loan originations, and (7) our obligations to repurchase or indemnify the GSEs for loans we originate under their programs, including additional charges or losses related to loans we have already repurchased or indemnified and new repurchase requests we may receive from the GSEs related to the previously identified instances of borrower fraud, additional instances of borrower fraud, or other reasons.

For a further discussion of these and other factors that could cause future results to differ materially from those expressed or contemplated in any forward-looking statements, see the section titled "Risk Factors" in our most recent Annual Report on Form 10-K and any updates or supplements in subsequent Quarterly Reports on Form 10-Q and our other filings with the SEC. Such filings are available publicly on our Investor Relations web page at www.walkerdunlop.com.

Adjusted Financial Measure Reconciliation to GAAP

ADJUSTED EBITDA 2030
(dollars in thousands)		Base			Bold
Walker & Dunlop Net Income	$	273,739		$	343,659
Income Tax Expense		91,246			114,553
Interest Expense on Term Loan		60,349			59,834
Amortization and Depreciation		275,931			293,719
Stock Compensation		39,449			41,120
Provision for Credit Losses		8,000			8,000
MSR Income¹		(279,702	)		(323,833	)
Other Adjustments		-			2,500
Adjusted EBITDA	$	469,012		$	539,552

The fair value of expected net cash flows from servicing, net of guaranty obligation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260310851352/en/

Investors:

Kelsey Duffey

Investor Relations

Phone 301.202.3207

investorrelations@walkeranddunlop.com

Media:

Nina H. von Waldegg

Public Relations

Phone 301.564.3291

nhvwaldegg@walkerdunlop.com

Phone 301.215.5500

7272 Wisconsin Avenue, Suite 1300

Bethesda, Maryland 20814

Walker & Dunlop Investor Day Unveils Journey to '30