SEDAR Interim Financial Statements

Real Matters Inc. Interim Condensed Consolidated Statements of Financial Position March 31, 2026 and September 30, 2025 (unaudited - in thousands of United States (“U.S.”) dollars) The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements. Real Matters Inc. – March 31, 2026 - 1 March 31, September 30, 2026 2025 ASSETS CURRENT Cash and cash equivalents $ 41,650 $ 40,190 Trade and other receivables 15,802 17,874 Income taxes recoverable - 175 Prepaid expenses 1,886 2,489 Other assets (Note 9) - 1,228 59,338 61,956 NON-CURRENT Intangibles 1,532 1,879 Goodwill 43,181 43,181 Property and equipment 1,579 1,967 Other assets (Note 9) - 570 Deferred tax assets 2,714 2,009 49,006 49,606 TOTAL ASSETS $ 108,344 $ 111,562 LIABILITIES CURRENT Trade payables $ 11,683 $ 10,469 Accrued charges 2,128 2,982 Income taxes payable 165 - Other liabilities (Note 8 & 9) 945 2,370 Lease liabilities (Note 7) 515 799 15,436 16,620 NON-CURRENT Deferred tax liabilities 2,010 1,839 Other liabilities (Note 8 & 9) 1,142 1,307 Lease liabilities (Note 7) 737 930 3,889 4,076 TOTAL LIABILITIES 19,325 20,696 EQUITY SHAREHOLDERS' EQUITY Common shares 233,707 233,506 Contributed surplus 14,027 13,651 Accumulated deficit (145,757) (143,442) Accumulated other comprehensive loss (12,958) (12,849) TOTAL EQUITY 89,019 90,866 TOTAL LIABILITIES AND EQUITY $ 108,344 $ 111,562 Real Matters Inc. Interim Condensed Consolidated Statements of Operations and Comprehensive Loss For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars except per share amounts) The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements. Real Matters Inc. – March 31, 2026 - 2 Three months ended Six months ended 2026 2025 2026 2025 REVENUES (Note 10) $ 47,242 $ 37,322 $ 93,778 $ 78,305 TRANSACTION COSTS 33,686 27,265 67,255 57,395 OPERATING EXPENSES (Note 5) 13,030 12,082 26,004 24,643 AMORTIZATION 774 743 1,529 1,501 RESTRUCTURING EXPENSES - - - 461 INTEREST EXPENSE 73 83 138 160 INTEREST INCOME (318) (460) (658) (935) NET FOREIGN EXCHANGE (GAIN) LOSS (1,532) 181 (74) (5,943) LOSS ON FAIR VALUE OF DERIVATIVES (Note 9) 93 589 1,379 2,260 INCOME (LOSS) BEFORE INCOME TAX EXPENSE (RECOVERY) 1,436 (3,161) (1,795) (1,237) INCOME TAX EXPENSE (RECOVERY) Current 334 148 1,061 481 Deferred (101) (1,089) (541) (1,778) TOTAL INCOME TAX EXPENSE (RECOVERY) 233 (941) 520 (1,297) NET INCOME (LOSS) 1,203 (2,220) (2,315) 60 OTHER COMPREHENSIVE (LOSS) INCOME Items that will be reclassified to net income or loss: Foreign currency translation adjustment (1,642) 161 (109) (6,413) COMPREHENSIVE LOSS $ (439) $ (2,059) $ (2,424) $ (6,353) Net income (loss) per weighted average share, basic (Note 4) $ 0.02 $ (0.03) $ (0.03) $ 0.00 Net income (loss) per weighted average share, diluted (Note 4) $ 0.02 $ (0.03) $ (0.03) $ 0.00 Weighted average number of shares outstanding (thousands), basic (Note 4) 74,289 74,016 74,273 74,012 Weighted average number of shares outstanding (thousands), diluted (Note 4) 74,715 74,016 74,273 74,403 Real Matters Inc. Interim Condensed Consolidated Statements of Cash Flows For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars) The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements. Real Matters Inc. – March 31, 2026 - 3 Three months ended Six months ended 2026 2025 2026 2025 N --- ET (OUTFLOW) INFLOW OF CASH RELATED TO THE FOLLOWING OPERATING Net income (loss) $ 1,203 $ (2,220) $ (2,315) $ 60 Items not affecting cash: Stock-based compensation (Note 8) 351 142 437 200 Amortization of intangibles 499 439 975 881 Amortization of property and equipment 275 304 554 620 Interest expense 73 83 138 160 Loss on fair value of derivatives (Note 9) 93 589 1,379 2,260 Income tax expense (recovery) 233 (941) 520 (1,297) Unrealized foreign exchange (gain) loss on internal financing arrangements (1,309) 135 (102) (4,849) Changes in non-cash working capital items (Note 6) (2,223) (1,009) 2,992 1,510 Proceeds from the settlement of derivatives (Note 9) - - 866 - Payment of cash-settled restricted share units ("RSUs") (Note 8) - (44) (2,032) (44) Interest paid (73) (83) (138) (160) Income taxes paid (343) (363) (719) (829) Cash (utilized in) generated from operating activities (1,221) (2,968) 2,555 (1,488) INVESTING Intangible asset additions (384) (177) (632) (292) Property and equipment additions (52) (72) (166) (105) Payments received from sublease - 86 59 170 Cash utilized in investing activities (436) (163) (739) (227) FINANCING Repayment of lease liabilities (Note 7) (193) (268) (476) (533) Proceeds from the exercise of stock options 10 - 149 32 Cash utilized in financing activities (183) (268) (327) (501) Effect of foreign currency translation on cash and cash equivalents (308) 40 (29) (1,239) NET CASH (OUTFLOW) INFLOW (2,148) (3,359) 1,460 (3,455) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD OR YEAR 43,798 49,047 40,190 49,143 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 41,650 $ 45,688 $ 41,650 $ 45,688 SUPPLEMENTAL CASH FLOW INFORMATION: Cash and cash equivalents are comprised of: Cash $ 1,311 $ 2,748 $ 1,311 $ 2,748 Cash equivalents 40,339 42,940 40,339 42,940 $ 41,650 $ 45,688 $ 41,650 $ 45,688 Real Matters Inc. Interim Condensed Consolidated Statements of Equity For the three months ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars) The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements. Real Matters Inc. – March 31, 2026 - 4 Common shares Contributed surplus Accumu- lated deficit Accumu- lated other compre- hensive loss Total equity Balance at December 31, 2025 $ 233,693 $ 14,017 $ (146,960) $ (11,316) $ 89,434 Net income 1,203 1,203 Common shares issued on the exercise of stock options 14 (4) 10 Stock-based compensation 14 14 Foreign currency translation adjustment (1,642) (1,642) Balance at March 31, 2026 $ 233,707 $ 14,027 $ (145,757) $ (12,958) $ 89,019 Common shares Restricted shares Contributed surplus Accumu- lated deficit Accumu- lated other comprehen- sive loss Total equity Balance at December 31, 2024 $ 232,601 $ (311) $ 14,294 $ (118,654) $ (16,105) $ 111,825 Net loss (2,220) (2,220) Common shares issued on settlement of RSUs (Note 8) 56 (56) - Stock-based compensation 16 16 Restricted shares released by the trust (Note 8) 311 (460) 149 - Foreign currency translation adjustment 161 161 Balance at March 31, 2025 $ 232,657 $ - $ 13,794 $ (120,725) $ (15,944) $ 109,782 Real Matters Inc. Condensed Consolidated Statements of Equity For the six months ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars) The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements. Real Matters Inc. – March 31, 2026 - 5 Common shares Contributed surplus Accumu- lated deficit Ac --- cumu- lated other comprehen- sive loss Total equity Balance at September 30, 2025 $ 233,506 $ 13,651 $ (143,442) $ (12,849) $ 90,866 Net loss (2,315) (2,315) Common shares issued on the exercise of stock options 201 (52) 149 Stock-based compensation 428 428 Foreign currency translation adjustment (109) (109) Balance at March 31, 2026 $ 233,707 $ 14,027 $ (145,757) $ (12,958) $ 89,019 Common shares Restricted shares Contributed surplus Accumu- lated deficit Accumu- lated other comprehen- sive loss Total equity Balance at September 30, 2024 $ 232,554 $ (311) $ 13,926 $ (120,934) $ (9,531) $ 115,704 Net income 60 60 Common shares issued on the exercise of stock options 47 (15) 32 Common shares issued on settlement of RSUs (Note 8) 56 (56) - Stock-based compensation 399 399 Restricted shares released by the trust (Note 8) 311 (460) 149 - Foreign currency translation adjustment (6,413) (6,413) Balance at March 31, 2025 $ 232,657 $ - $ 13,794 $ (120,725) $ (15,944) $ 109,782 Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 6 1. Nature of Operations Real Matters Inc. (“Real Matters” or the “Company”) is a leading technology and network management company providing appraisal and title services through its Solidifi brand to the mortgage lending industry in the U.S. and appraisal and insurance inspection services to the mortgage lending and insurance industries in Canada through its Solidifi and iv3 brands, respectively. Real Matters’ head office and Canadian operations are located at 50 Minthorn Boulevard, Markham, Ontario and its U.S. subsidiaries operate at the Company’s principal offices in Buffalo, New York and Middletown, Rhode Island. 2. Basis of Presentation and Material Accounting Policies The unaudited interim condensed consolidated financial statements (“financial statements”) are presented in thousands of U.S. dollars. Statement of compliance The financial statements have been prepared in accordance with IFRS® Accounting Standards (“IFRS Accounting Standards”) under IAS 34 “Interim Financial Reporting” as issued by the International Accounting Standards Board (“IASB”). Accordingly, certain information and disclosures normally included in annual financial statements prepared in accordance with IFRS Accounting Standards have been omitted or condensed. These financial statements should be read in conjunction with the annual audited consolidated financial statements, and notes thereto, for the years ended September 30, 2025 and 2024 (the “annual financial statements”). These financial statements were authorized for issue by the board of directors on April 30, 2026. Use of estimates and judgments The preparation of these financial statements requires management to employ certain accounting estimates and judgments in the application of the Company’s accounting policies. The areas involving significant estimate and judgment are set out in Note 2 to the Company’s annual financial statements. There have been no notable changes in the methods employed by management to determine significant estimates and judgments since September 30, 2025, except as outlined in Note 3. Summary of material accounting policies The material accounting policies and methodologies applied by the Company in preparing these financial statements are the --- same as those outlined in the most recent annual financial statements, except as outlined in Note 3. Seasonality Residential mortgage origination volumes in North America are a key driver of the Company’s financial performance and are influenced by cyclical trends and seasonality. Cyclical trends include fluctuations in mortgage interest rates, the capacity of lenders to underwrite mortgages, residential real estate prices, housing inventory, demand for housing, the availability of funds for mortgage loans, credit requirements, regulatory changes, household indebtedness, employment levels and the general health of the North American economy. The Company’s transaction-based revenues for appraisal services in our U.S. Appraisal and Canadian segments are also impacted by the seasonal nature of the residential mortgage industry, which typically sees home buyers purchase more homes in the Company’s third and fourth fiscal quarters, representing the three months ending June 30 and September 30, respectively. The results reported in these financial statements should not be regarded as an indication of the results expected for the entire year. Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 7 3. Recent Accounting Pronouncements Presentation and Disclosure in Financial Statements In April 2024, the IASB issued IFRS 18 - “Presentation and Disclosure in Financial Statements” to achieve more transparent and comparable information about the financial performance of similar entities. IFRS 18 introduces new requirements and guidance on presentation and disclosure in the financial statements including the following: • requirements to improve the structure and comparability of the income statement through the presentation of income and expenses within five defined categories – operating, investing, financing, income tax and discontinued operations. Entities will also be required to present new defined subtotals, including operating profit; • introduction of disclosures about management-defined performance measures to be explained and included in a separate note to the financial statements; • enhanced guidance on organizing information and whether to provide information in the financial statements or the notes while ensuring material information is not obscured; • improved transparency about operating expenses. IFRS 18 replaces IAS 1 - “Presentation of Financial Statements” but carries forward many requirements from IAS 1 unchanged. The standard is effective for annual reporting periods beginning on or after January 1, 2027, but earlier application is permitted. The Company is currently performing a gap analysis to prepare for retroactive application of this standard and expects to apply this standard on October 1, 2027. Amendments to the Classification and Measurement of Financial Instruments In May 2024, the IASB issued “Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)” to address matters identified during the post-implementation review of classification and measurement requirements of IFRS 9 – “Financial Instruments”. The IASB provided clarification to improve the understandability of the following: derecognition of a financial liability settled through electronic transfer, --- classification of certain financial assets and disclosures related to investments in equity instruments designated at fair value through other comprehensive income and contractual terms that could change the timing or amount of contractual cash flows. These amendments are effective for annual reporting periods beginning on or after January 1, 2026 on a retrospective basis but restatement of prior periods is not required. The Company expects to apply these amendments on October 1, 2026, and is currently assessing the impact on the Company’s financial statements. 4. Net Income (Loss) per Weighted Average Share The following table outlines the components used to calculate basic and diluted net income (loss) per share attributable to common shareholders: Three months ended March 31 Six months ended March 31 2026 2025 2026 2025 Net income (loss) $ 1,203 $ (2,220) $ (2,315) $ 60 Weighted average number of shares, basic 74,289 74,016 74,273 74,012 Dilutive effect of stock options and equity-settled RSUs 426 - - 391 Weighted average number of shares, diluted 74,715 74,016 74,273 74,403 Net income (loss) per weighted average share, basic $ 0.02 $ (0.03) $ (0.03) $ 0.00 Net income (loss) per weighted average share, diluted $ 0.02 $ (0.03) $ (0.03) $ 0.00 At March 31, 2026, 1,943 (2025 - 1,958 stock options) stock options and RSUs were excluded from the dilutive weighted average number of shares because their effect would have been anti-dilutive. Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 8 5. Operating Expenses Three months ended March 31 Six months ended March 31 2026 2025 2026 2025 Operating expenses: Salaries and benefits $ 10,028 $ 9,191 $ 19,630 $ 18,300 Office and computer 1,683 1,527 3,393 3,198 Professional fees 715 814 1,405 1,455 Sales and marketing 94 41 516 386 Travel and entertainment 193 158 400 423 Other 317 351 660 881 $ 13,030 $ 12,082 $ 26,004 $ 24,643 6. Changes in Non-Cash Working Capital Items The following table outlines changes in non-cash working capital items: Three months ended March 31 Six months ended March 31 Inflow (outflow) 2026 2025 2026 2025 Trade and other receivables $ (5,490) $ (3,960) $ 2,013 $ 833 Prepaid expenses 151 172 603 964 Trade payables 2,949 2,293 1,214 10 Accrued charges 168 483 (854) (115) Effect of foreign currency translation adjustments and other non-cash changes (1) 3 16 (182) $ (2,223) $ (1,009) $ 2,992 $ 1,510 7. Changes in Liabilities Arising from Financing Activities Three months ended March 31, 2026 Cash flows Non-cash changes Opening balance - January 1, 2026 Proceeds Re- payments Change in fair value Effect of foreign currency translation Other non- cash changes Ending balance - March 31, 2026 Lease liabilities $ 1,450 - (193) - (5) - $ 1,252 Three months ended March 31, 2025 Cash flows Non-cash changes Opening balance - January 1, 2025 Proceeds Re- payments Change in fair value Effect of foreign currency translation Other non- cash changes Ending balance - March 31, 2025 Lease liabilities $ 2,534 - (268) - 1 - $ 2,267 Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters I --- nc. – March 31, 2026 - 9 Six months ended March 31, 2026 Cash flows Non-cash changes Opening balance - October 1, 2025 Proceeds Re- payments Change in fair value Effect of foreign currency translation Other non- cash changes Ending balance - March 31, 2026 Lease liabilities $ 1,729 - (476) - (1) - $ 1,252 Six months ended March 31, 2025 Cash flows Non-cash changes Opening balance - October 1, 2024 Proceeds Re- payments Change in fair value Effect of foreign currency translation Other non- cash changes Ending balance - March 31, 2025 Lease liabilities $ 2,823 - (533) - (23) - $ 2,267 8. Stock-Based Compensation Stock options The Company did not grant any stock options during the six months ended March 31, 2026. The following table outlines changes to stock options: Six months ended March 31 2026 2025 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding balance, beginning of year 1,569 C$ 10.21 2,367 C$ 9.66 Granted, during the period - C$ - 10 C$ 6.37 Exercised, during the period (52) C$ 3.97 (7) C$ 6.38 Cancelled/forfeited, during the period - C$ - (34) C$ 12.56 Expired, during the period - C$ - (63) C$ 14.06 Outstanding balance, end of period 1,517 C$ 10.43 2,273 C$ 9.49 Stock options exercisable, end of period 1,478 C$ 10.55 2,196 C$ 9.62 The Company recorded stock-based compensation expense attributable to stock options of $9 and $27 (2025 - $17 and $56) to operating expenses in the interim condensed consolidated statements of operations and comprehensive loss for the three and six months ended March 31, 2026, respectively. Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 10 The following table summarizes certain information for stock options outstanding as at March 31, 2026: Exercise price range Number of stock options Weighted average remaining contractual life, expressed in years Number of stock options exercisable C$ 4.67 – C$ 5.90 98 4.00 68 C$ 5.91 – C$ 6.37 167 2.30 160 C$ 6.38 – C$ 6.63 200 2.84 200 C$ 6.64 – C$ 6.89 220 0.24 220 C$ 6.90 – C$ 11.48 114 0.73 112 C$ 11.49 – C$ 12.73 218 0.65 218 C$ 12.74 – C$ 13.50 261 1.11 261 C$ 13.51 – C$ 17.70 47 1.11 47 C$ 17.71 – C$ 20.88 192 1.63 192 1,517 1.50 1,478 RSUs The Company granted the following RSUs during the six months ended March 31, 2026: Grant date Plan Group granted to Vesting date Number of RSUs granted Weighted average grant date fair value, expressed in Canadian dollars ("C$") November 28, 2025 2022 Equity Plan Executive officers and certain employees November 28, 2028 498 C$ 6.59 November 28, 2025 2017 Equity Plan Directors November 28, 2025 84 C$ 6.59 February 2, 2026 2017 Equity Plan Certain employee February 2, 2029 4 C$ 7.24 The following table outlines changes to RSUs: Six months ended March 31 2026 2025 Number of RSUs Number of RSUs Outstanding balance, beginning of year 1,430 1,213 Granted 586 378 Settled (489) (124) Forfeited - (41) Outstanding balance, end of period 1,527 1,426 Vested, but not settled, end of period 429 392 For the six months ended March 31, 2025, the Company settled 101 RSUs under the 2022 Equity Plan with common shares held in trust. Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 --- and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 11 The Company recorded stock-based compensation expense attributable to RSUs of $342 and $410 (2025 - $125 and $144), including fair value changes in RSUs classified as liabilities, to operating expenses in the interim condensed consolidated statements of operations and comprehensive loss for the three and six months ended March 31, 2026, respectively. The total carrying amount of liabilities for cash-settled RSUs at March 31, 2026 was $1,647 (September 30, 2025 - $3,677) and is recorded in Other Liabilities. 9. Financial Instruments The following table categorizes the Company’s derivative financial assets and liabilities and presents their estimated fair values. Financial instruments are recorded as other assets or other liabilities in the Company’s interim condensed consolidated statements of financial position. March 31, September 30, 2026 2025 Financial assets Derivatives not designated in a hedging relationship: Current - other assets - total return swaps $ - $ 1,228 Non-current - other assets - total return swaps $ - $ 570 Financial liabilities Derivatives not designated in a hedging relationship: Current - other liabilities - total return swaps $ 24 $ - Non-current - other liabilities - total return swaps $ 416 $ - The Company realized a gain and received proceeds of $866 from the settlement of a total return swap during the six months ended March 31, 2026 (2025 - $nil). The following table outlines the hierarchical measurement categories for the fair value of financial assets or liabilities. At March 31, 2026 and September 30, 2025, financial assets or liabilities had the following estimated fair values expressed on a gross basis: March 31, 2026 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant un- observable inputs (Level 3) Total Other liabilities - total return swaps - (440) - (440) $ - $ (440) $ - $ (440) Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 12 September 30, 2025 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant un- observable inputs (Level 3) Total Other assets - total return swaps $ - $ 1,798 $ - $ 1,798 $ - $ 1,798 $ - $ 1,798 The hierarchal measurement categories for financial assets and liabilities, recognized at fair value on a recurring basis, are re-assessed at the end of each reporting period. For the six months ended March 31, 2026 and 2025, there were no transfers between levels or changes to the valuation techniques used to estimate fair value. The estimated fair values of financial instruments are calculated using available market information, and commonly accepted valuation methods. Considerable judgment is required to interpret market information used to develop these estimates. Accordingly, these fair value estimates are not necessarily indicative of the amounts the Company, or counterparties to the instruments, could realize in a current market exchange. Total return swaps The Company’s total return swaps are recorded at estimated fair value based on quotes received from the financial insti --- tution that is counterparty to the agreements. The Company verifies the reasonableness of the quotes by comparing them to share price movements adjusted for interest using a market rate of interest specific to the terms of the underlying contract. The use of different assumptions and or estimation methods could result in differing estimates of fair value, which the Company believes would not be material. The Company entered into the following total return swaps outlined in the table below: Total return swaps Date entered Notional amount Share price Number of units Effective date Expiration date November 2023 C$ 2,029 C$ 5.78 351 December 2023 December 2026 November 2024 C$ 2,017 C$ 6.42 314 November 2024 November 2027 November 2025 C$ 3,185 C$ 6.39 499 November 2025 November 2028 The contractual maturities of the Company’s derivative financial liabilities are as follows: March 31, 2026 Payments due Total Less than 1 year 1-3 years 4-5 years After 5 years Total return swaps $ 440 $ 24 $ 416 $ - $ - Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 13 Estimated fair value The carrying value of cash and cash equivalents, trade and other receivables, trade payables and accrued charges approximate their fair values due to the relatively short maturities of these instruments. 10. Segmented Reporting The Company conducts its business through three reportable segments: U.S. Appraisal, U.S. Title and Canada. The Company reports segment information based on internal reports used by the Chief Operating Decision Maker (“CODM”) to make operating and resource allocation decisions and to assess performance. The CODM is the Chief Executive Officer of the Company. The U.S. Appraisal segment provides residential mortgage appraisals for purchase, refinance, home equity and default transactions through its Solidifi brand. The U.S. Title segment serves the title market by providing various title services for refinance, purchase, home equity, default, short sale and real estate owned (“REO”) transactions to mortgage lenders through its Solidifi brand. As an independent title agent, the Company provides services required to close a mortgage transaction, including title search, curative, closing and escrow services and title policy issuance. Diversified title services represent software subscription fees earned from other title insurance agencies and mortgage lenders. The Canadian segment’s primary service offerings include residential mortgage appraisals for purchase, refinance and home equity transactions provided through its Solidifi brand. Additionally, the Company provides insurance inspection services to property and casualty insurers across Canada through its iv3 brand. The Company excludes corporate costs in the determination of each operating segment’s performance. Corporate costs include certain executive and employee costs, legal, finance, internal audit, treasury, investor relations, compliance, human resources, technical and software development, corporate development and other administrative support function costs. The CODM does not evaluate operating segments using discrete asset information and the Company does not specifically allocate assets to operating segments for internal reporting purposes. The accounting policies for ea --- ch operating segment are the same as those described in the basis of presentation and material accounting policies note, and applicable policies outlined in the recent accounting pronouncements note, Notes 2 and 3, respectively. The Company evaluates segment performance based on revenues, net of transaction costs. Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 14 Three months ended March 31 Six months ended March 31 2026 2025 2026 2025 Revenues U.S. Appraisal $ 33,710 $ 26,685 $ 66,602 $ 56,025 U.S. Title 5,143 2,262 9,594 4,798 Canada 8,389 8,375 17,582 17,482 $ 47,242 $ 37,322 $ 93,778 $ 78,305 Revenues net of transaction costs U.S. Appraisal $ 8,630 $ 7,290 $ 16,985 $ 15,064 U.S. Title 3,255 1,178 6,097 2,533 Canada 1,671 1,589 3,441 3,313 $ 13,556 $ 10,057 $ 26,523 $ 20,910 Amortization U.S. Appraisal $ 80 $ 81 $ 164 $ 161 U.S. Title 526 547 1,053 1,107 Canada - - - - Corporate 168 115 312 233 $ 774 $ 743 $ 1,529 $ 1,501 Operating expenses $ 13,030 $ 12,082 $ 26,004 $ 24,643 Restructuring expenses - - - 461 Interest expense 73 83 138 160 Interest income (318) (460) (658) (935) Net foreign exchange (gain) loss (1,532) 181 (74) (5,943) Loss on fair value of derivatives 93 589 1,379 2,260 Income (loss) before income tax expense (recovery) $ 1,436 $ (3,161) $ (1,795) $ (1,237) Geographic segmentation of the Company’s assets is as follows: March 31, 2026 U.S. Canada Corporate Total Intangibles $ 139 $ - $ 1,393 $ 1,532 Goodwill $ 43,181 $ - $ - $ 43,181 Property and equipment $ 1,172 $ - $ 407 $ 1,579 September 30, 2025 U.S. Canada Corporate Total Intangibles $ 849 $ - $ 1,030 $ 1,879 Goodwill $ 43,181 $ - $ - $ 43,181 Property and equipment $ 1,502 $ - $ 465 $ 1,967 Real Matters Inc. Notes to the Interim Condensed Consolidated Financial Statements For the periods ended March 31, 2026 and 2025 (unaudited - in thousands of U.S. dollars and shares, except per share amounts, unless otherwise stated) Real Matters Inc. – March 31, 2026 - 15 Revenues by service type The Company’s revenue is derived from contracts with customers. The disaggregation of revenue by service type is reconciled to the Company’s segment revenue: Three months ended March 31 Six months ended March 31 2026 2025 2026 2025 Appraisal $ 41,415 $ 34,355 $ 82,756 $ 71,883 Title - mortgage origination, home equity and REO 4,983 1,984 9,262 4,271 Title - diversified 160 277 332 526 Insurance inspection 684 706 1,428 1,625 $ 47,242 $ 37,322 $ 93,778 $ 78,305