Real REMAX Group Inc.

Merger With RE/MAX Holdings, Inc.

On August 24, 2026, Real and REMAX completed their previously announced business combination forming Real REMAX Group Inc (the “Transaction”). Our common stock began trading on the Nasdaq Global Select Market under the symbol “REAX” on August 25, 2026.

The results of REMAX are included in our condensed consolidated financial statements beginning on August 25, 2026. Accordingly, our results for the three and nine month periods ended September 30, 2026 include approximately five weeks of REMAX operations, while the corresponding periods in 2025 reflect only the operations of legacy Real. This significantly affects the comparability of our consolidated results between periods.

For additional information on the Transaction, see the Company’s Current Report on Form 8-K12B filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 24, 2026.

Credit Agreement

On August 24, 2026, we entered into a new credit agreement (the “Credit Agreement”) with the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent, providing for (a) a $550 million senior secured term loan facility (the “Term Loan Facility” and the loans thereunder, the “Term Loans”) and (b) a $40 million revolving credit facility, including a letter of credit sub-facility of up to $10 million (the “Revolving Facility” and, together with the Term Loan Facility, the “Credit Facilities”). The proceeds of the Term Loans, together with available cash on hand, were used to fund a portion of the cash consideration payable in the Transaction, repay REMAX’s existing indebtedness, and pay transaction-related fees and expenses.

The Term Loans mature on August 24, 2031, and amortize in quarterly installments equal to 1.875% of the original principal amount, with the remaining balance due at maturity.

Artificial Intelligence Tools – Leo CoPilot and HeyLeo

The Company has developed AI enabled tools that are integrated within reZEN, our brokerage technology platform, including Leo CoPilot, an AI-powered assistant that is integrated with reZEN and available to agents and brokers. Leo CoPilot provides access to transaction data, operational information and workflow support to assist agents and brokerage personnel in managing transactions and day-to-day activities. Real has also developed consumer-facing technology products intended to support the residential real estate transaction process under the guidance of affiliated agents. The Company’s consumer-facing platform, HeyLeo, is designed as an extension of its agent-facing technology.

HeyLeo enables consumers to ask questions using their voice or natural text and uses contextual intelligence to aggregate information a buyer shares to curate recommendations. HeyLeo draws on enriched listing data, including from multiple listing services (“MLS“) feeds across key U.S. markets, to inform property recommendations and is intended to facilitate consumer engagement by enabling access to property information, communication tools, and brokerage and ancillary services. HeyLeo beta launched in the fourth quarter of 2025. In the third quarter of 2026, HeyLeo beta launched additional features, including related to client relationship management.

Housing Market Conditions

Our results are affected by conditions in the residential real estate market, including mortgage rates, housing affordability, home prices, inventory and overall transaction activity. During the third quarter of 2026, mortgage rates increased, particularly toward the end of the quarter. The average 30-year fixed mortgage rate increased from 6.71% on September 3, 2026 to 7.03% on September 24, 2026. Higher mortgage rates increase borrowing costs and may further constrain housing affordability and residential transaction activity. Because the increase occurred primarily late in the quarter, its impact may not be fully reflected in our results for the three months ended September 30, 2026.

Real REMAX Group Inc. Q3 2026 Form 10-Q‌41