AGNT, Inc.

Good afternoon and welcome to the Agent Second Quarter 2026 Earnings Fireside Chat via livestream and our metaverse on the web, Frame. My name is Denise Garcia and I manage investor relations for Agent, formerly eXp World Holdings. Today, we will begin our Earnings Fireside Chat with remarks from Leo Pareja, CEO of eXp Realty, Jesse Hill, Chief Financial Officer of Agent, and Glenn Sanford, Founder, CEO, and Chairman of Agent. Following our prepared remarks, we will open the call to a Q&A session with our speakers. Let's begin with a review of the forward-looking statements. There'll be a number of forward-looking statements made today that should be considered in conjunction with the cautionary statements contained in the company's SEC filings. Forward-looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Please see our filings with the SEC, including our most recently filed annual report on Form 10-K, and Quarterly Reports on Form 10-Q for a discussion of specific risks that may affect our business, performance and financial condition. We assume no obligation to update or revise any forward-looking statements or information. As a reminder, today's call is being recorded and a replay will also be made available on agnt.inc. Now for a few logistics and we'll get started. For those of you joining in frame today, welcome to our metaverse on the web. To zoom into a specific screen, you can click on that screen and then click Zoom In. If the content on that screen disappears or if you lose audio, simply refresh your page or log out and re-enter. While in frame, if you need help, just use the Help button at the bottom right to link with tech support. Should you wish to ask a question during our presentation, you can enter your questions by scanning the QR code presented on this screen with your mobile phone or go to slido.com and type in the event code AGNT. From there, you can submit a question or vote up an existing question by giving a thumbs up for that question to be asked. This screen will remain up on the right hand side of the stage. Now, I'll turn the fireside chat over to our speakers before opening the call to questions. Leo, you may begin.

Thanks, Denise. Before I get into the numbers, I just want to ground everyone in what AGNT is today. agent is a global operating system for modern real estate entrepreneur and a multi-model platform where independent agents franchise owners and team leaders all find a home built for the way they want to grow two models maximum optionality that's the thesis behind everything i'll walk through today which brings me how the multi-model platform actually comes together exp realty remains the undisputed cloud-based leader in our industry NextHome offers a premier franchise experience. Together, these two brands expand our agent offering and let us serve a wider segment of the market than either brand could reach alone. NextHome is a complementary growth engine that unlocks multi-model reach across distinct market segments. We have seasoned operators in both brands driving execution and aligned incentives. We share a global referral network connecting eXp agents with NextHome franchisees worldwide. and we're consolidating back office legal technology resources driving efficiencies across both brands. We are witnessing the financialization of the real estate industry. Now across private equity and public company acquisitions there's about 400,000 agents who find themselves at a franchise over the next They may no longer feel aligned with, and now we have an opportunity to convert entire franchises as those agreements come due. Now let's look at the platform built by agents for agents actually produced this quarter. This was a record revenue quarter, and it was built on agent success. We ended the quarter with 87,338 agents, up 6% year-rear. Transactions grew even faster. Over 132,000 real estate sale transactions, up 12% year-over-year. Revenue came in at $1.4 billion, up 11% year-over-year. And productivity, transactions per agent, was up 6%. Put simply, record revenue driven by increased agent productivity. That's not just agent counting doing the work. That's our agents doing more and doing it better, which is exactly why retention of the best agents matters so much. And that's our next slide.

We continue to see our least productive cohorts churn out of the industry entirely, not just out of eXp.