Exhibit 99.1

Webull Reports First Quarter 2025 Financial Results

Total revenues grew 32% year-over-year to $117 million, reflecting strong account and trading volume growth

Customer assets increased 45% year-over-year, driven by increased customer net deposits

Disciplined execution alongside robust revenue growth driving profitability

ST. PETERSBURG, FL., May 22, 2025 /PRNewswire/ – Webull Corporation (NASDAQ: BULL) (“Webull” or the “Company”) today announced financial results for the quarter ending March 31, 2025.

“We are proud to have delivered a very strong first quarter, driven by significant account and trading volume growth that reflects continued demand for Webull’s differentiated trading platform,” said Anthony Denier, Webull’s Group President and U.S. CEO. “We believe our results speak to our strong value proposition, reliable and innovative platform, and focus on global distribution to meet the needs of our sophisticated retail customers. Moving forward we will remain focused on broadening our product portfolio, introducing new asset classes, and expanding access to customers globally, all with the goal of strengthening the customer experience to further expand our position as the advanced retail investment platform of choice.”

“In the first quarter, we continued to execute on our strategy and achieved impressive momentum across the business, growing total revenues by 32% alongside strong improvements on the bottom line,” said H.C. Wang, Group CFO of Webull. “We continue to see strong account growth as our global teams execute on our strategy in 2025 to address and meet the long-term investing needs of individual investors around the world.”

First Quarter Business and Financial Highlights

Company Highlights

Conference Call Information

Webull will host a conference call to discuss its results at 5:00 p.m. E.T. today, May 22, 2025. The conference call can be accessed at https://event.choruscall.com/mediaframe/webcast.html?webcastid=SMs1hkAY or participants may dial 1-866-652-5200 (U.S.) or 1-412-317-6060 (international).

Following the call, a replay and transcript will be available on the Company’s website at www.webullcorp.com/investor-relations, as well as the earnings press release and accompanying slide presentation.

About Webull Corporation

Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure. Through its global network of licensed brokerages, Webull offers investment services in 14 markets across North America, Asia Pacific, Europe, and Latin America. Webull serves more than 24 million registered users globally, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures, and fractional shares through Webull's trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at www.webullcorp.com.

Contacts

For Investors

ir@webullcorp.com

For Media
5W Public Relations

Nicholas Koulermos
Webull@5wpr.com
(212) 999-5585

Use of Non-GAAP Financial Measures

We use adjusted operating profit and adjusted operating expenses, both non-GAAP financial measures, to evaluate our operating results and for financial and operational decision-making purposes. Adjusted operating profit represents income (loss) from continuing operations, before income taxes, excluding share-based compensation expenses, and other expense (income), net. Adjusted operating expenses represent total operating expenses, excluding share-based compensation expenses.

We believe that both adjusted operating profit and adjusted operating expenses help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in income from continuing operations, before income taxes, and total operating expenses. We believe that adjusted operating profit and adjusted operating expenses provide useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Adjusted operating profit and adjusted operating expenses should not be considered in isolation or construed as an alternative to income from continuing operations, before income taxes, and total operating expenses or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to compare the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted operating profit and adjusted operating expenses presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of Non-GAAP and GAAP Financial Measures” set forth at the end of this press release.

Definitions

“Customer assets” refer to the sum of the fair value of all equities, ETFs, options, warrants, futures, and cash held by customers in their Webull brokerage accounts, net of customer margin balances, as of the record date. While customer assets are significantly impacted by mark-to-market valuations of customers’ investments, we consider customer assets an important metric as growth in customer assets generally leads to an increase in trading volumes and revenue.

“DARTs” refers to daily average revenue trades, which is the number of customer trades executed during a given period divided by the number of trading days in that period. DARTs provide us information on how active our customers trade. A limitation of this metric is that it does not capture the size of the trade and revenue per trade varies significantly depending on size and type of trades.

“Equities notional volume” refers to the aggregate dollar value (purchase price or sale price as applicable) of trades executed over a specified period of time. Equity notional volume directly drives our equities trading revenue, as we earn payment for order flow or commissions for customers’ equities trades based on a percentage of notional value. However, equity notional volume is highly sensitive to market conditions in the short-term, which makes predicting our equity trading revenue with precision difficult.

“Funded accounts” refer to Webull brokerage accounts into which the customer has made an initial deposit or money transfer, of any amount, whose account balance (which is measured as the fair value of assets in the customer’s account less the amount due from the customer) has not dropped to or below zero for 45 consecutive calendar days as of the record date. Funded accounts reflect unique customers, and multiple funded accounts by a single customer are counted as one funded account. Growth in our funded accounts provides insight as to the effectiveness of our marketing efforts and our ability to acquire monetizable customers. Funded accounts are positively correlated with, but are not determinative, of customer assets, trading volumes, and revenue.

“Options contracts volume” refers to the total number of options contracts bought or sold over a specified period of time. Options contracts volume directly drives our options trading revenue, as we earn payment for order flow or commissions for customers’ options trades on a per contract basis. However, options contracts volume is highly sensitive to market conditions in the short-term, which makes predicting our options trading revenue with precision difficult.

“Registered users” refer to those users who have registered on our platform but not necessarily have opened a brokerage account with one of our licensed broker-dealers. Growth in our registered users provides insight as to the popularity of the Webull App. While we do not generate revenue from registered users who do not have brokerage accounts with us, registering an account on the Webull App is the first step toward opening and funding a brokerage account with us.

Contra Revenue Impact

Most of our platform users are not considered customers under ASC 606, Revenues from Contracts with Customers (“ASC 606”), and promotional payments made to these platform users are accounted for as a marketing and branding expense. Conversely, for our platform users who have been determined to be customers under ASC 606, we account for these promotional payments as a reduction in revenue. The following presents how contra revenue impacted our trade related revenues.

Statement regarding unaudited financial and operational information

The unaudited financial and operational information included in this press release is subject to potential adjustments and is based on the information available to management at this time. Potential adjustments to operational and consolidated financial information may be identified from work performed during Webull’s preparation of financial statements subsequently hereto or its year-end audit. Information may also be presented differently from the information included herein in the future. This could result in significant differences from the unaudited or other historical operational and financial information included herein. The financial information included in this press release does not reflect the closing of the previously announced business combination that occurred on April 10, 2025.

Cautionary Note Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release or other statements of the Company, including, for instance, statements as to business strategy and plans, future results of operations and financial position, planned products and services, objectives of management for future operations or strategies of the Company, market size and growth opportunities, competitive position and technological and market trends are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “anticipate,” “expect,” “suggests,” “plan,” “believe,” “predict,” “potential,” “seek,” “future,” “propose,” “continue,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology.

All forward-looking statements are based upon current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and its management as of the date of this press release, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently known to the Company and its management and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to: (1) the ability of the Company to capitalize on the anticipated benefits of the business combination, to grow and manage growth profitably, maintain relationships and deepen engagement with users, customers and suppliers, and retain its management and key employees; (2) the reliance of key functions of the Company’s business on third-parties and the risk that the Company’s platform and systems rely on software and applications that are highly technical and may contain undetected errors that could result in unexpected network interruptions, failures, security breaches, or computer virus attacks; (3) the risks associated with the Company’s global operations and continued global expansion, including, but not limited to, the risks related to complex or constantly evolving political or regulatory environments that may result in substantial costs or require adverse changes to the Company’s business practices; (4) the Company’s estimates of expenses and costs (including costs related to the business combination), of profitability or of other operational and financial metrics as well as the Company’s expectations regarding demand for and market acceptance of its products and service; (5) the Company’s reliance on trading related income, including payment for order flow (“PFOF”), and the risk of new regulation or bans on PFOF and similar practices; (6) the Company’s exposure to fluctuations in interest rates, rapidly changing interest rate environments, volatile prices of securities and trading volumes; (7) the Company’s reliance on a limited number of market makers and liquidity providers to generate a large portion of its revenues, and the negative impact of the loss of any of those market makers or liquidity providers; (8) the effects of competition in the Company’s industry and the Company’s need to constantly innovate and invest in new markets, products, technologies or services to retain, attract and deepen engagement with users; (9) changes in international trade policies and trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting our business; (10) risks related to general political, economic and business conditions globally and in jurisdictions where the Company operates; (11) risk of further actions taken by various government bodies in the United States that have made the Company the subject of inquiries and investigations relating to concerns about our connections to China; (12) the risk that the failure to protect customer data and privacy or to prevent security breaches relating to the Company’s platform could result in economic loss, damage to its reputation, deter customers from using its products and services, and expose it to legal penalties and liability; (13) risks related to the Company’s need as a regulated financial services company to develop and maintain effective compliance and risk management infrastructures as well as to maintain capital levels required by regulators and self-regulatory organizations; (14) the ability to meet, or continue to meet, stock exchange listing standards; (15) the possibility of adverse developments in pending or new litigation and regulatory investigations; (16) risks related to the Company’s securities and its status as a foreign private issuer and the fact that the information the Company is required to file with or furnish to the U.S. Securities and Exchange Commission (the “SEC”) may be less extensive and less timely compared to that required to be filed with the SEC by U.S. domestic issuers; (17) risks related to the offer and resale of our securities, such as dilution from the issuance of additional Class A ordinary shares upon the exercise of warrants, and increased volatility, or significant declines, in the price of our securities based on increased trading activity and the perception that sales of our securities may occur; and (18) other risks and uncertainties that are more fully described in filings made, or to be made, by the Company with the SEC, including in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s filings with the SEC. The foregoing list of factors is not exhaustive. There may be additional risks that the Company and its management presently do not know about or that the Company and its management currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In light of these factors, risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur, and any estimates, assumptions, expectations, forecasts, views or opinions set forth in this press release should be regarded as preliminary and for illustrative purposes only and accordingly, undue reliance should not be placed upon the forward-looking statements. The Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Reported results should not be considered an indication of future performance.

8

Exhibit 99.2

Webull Corporation: Earnings Presentation Q1 2025

This presentation by Webull Corporation (“Webull”) includes “forward - looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Among other things, statements other than statements of historical fact, including statements about Webull’s beliefs and expectations, Webull’s business strategy and operational plans, planned products and services, financial and market outlook, and projections, are forward - looking statements. These forward - looking statements can be identified by terminolo gy such as “may,” “could,” “will,” “expect,” “anticipate,” “aim,” “future,” “intend,” “plan,” “believe,” “estimate,” “likely to,” “potential,” “confident,” “guidance,” and similar terminology, although not all forward - look ing statements contain such terminology. All forward - looking statements are based upon current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of Webull and its m ana gement as of the date of this presentation, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently known to Webull and its management and could cause actual r esu lts to differ materially from those expressed or implied by such forward - looking statements. Some of these factors include, but are not limited to, the risks and uncertainties that are more fully described in filings made, or to be made, by Webull with the U.S. Securities and Exchange Commission (the “SEC”), including in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward - Looking Statements” in those filings. There may be additional risks that Webull and its management presently do not know or that Webull and its management currently believe are immaterial that could also cause actual results to differ ma ter ially from those contained in the forward - looking statements. In light of these factors, risks and uncertainties, the forward - looking events and circumstances discussed in this presentation may not occur, and any esti mates, assumptions, expectations, forecasts, views or opinions set forth in this press release should be regarded as preliminary and for illustrative purposes only and accordingly, undue reliance should not be pl ace d upon the forward - looking statements. All information provided in this presentation is as of the date hereof, and Webull undertakes no obligation to update any forward - looking statement, except as required under app licable law. This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the U.S. (“GAAP”), including adjusted operating profit and adjusted operating expenses. Adjusted operating profit represents income (loss) from continuing operations, before income taxes, excluding share - based compen sation expenses, and other expense (income), net. Adjusted operating expenses represent total operating expenses, excluding share - based compensation expenses. Webull believes that adjusted operating profit and adjusted operating expenses help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in income from continuing operations, bef ore income taxes, and total operating expenses. Such measures also provide useful information about Webull’s operating results, enhances the overall understanding of Webull’s past performance and future prospects and allows for greater visibility with respect to key metrics used by Webull’s management in its financial and operational decision - making. The reconciliation of those measures to the most comparable GAAP me asures is presented in the Appendix at the end of this presentation. These non - GAAP measures have limitations as an analytical tool and you should not consider them in isolation or as a substitute for an ana lysis of Webull’s financial results under GAAP. Adjusted operating profit and adjusted operating expenses presented here may not be comparable to similarly titled measures presented by other companies. This presentation does not constitute investment, tax or legal advice, and does not contain all relevant information relating to Webull or its securities, particularly with respect to the risks and special considerations involved with an investment in the securities of Webull. This presentation does not constitute ( i ) an offer or invitation for the sale or purchase of our securities or a commitment of Webull, or (ii) a solicitation of prox y, consent or authorization with respect to any securities. This presentation shall not form the basis of any contract, commitme nt or investment decision and does not constitute either advice or recommendation regarding any securities. Nothing contained in this presentation shall be relied upon as a promise or representation as to th e p ast or future performance or results of Webull. We own or have rights to various trademarks, trade names or service marks that we use in connection with our business, includ ing , among others, “Webull” and our other registered and common law trade names, trademarks and service marks, including our corporate logo. Solely for convenience, some of the trademarks, service marks and tr ade names referred to in this prospectus are listed without the TM and ® symbols, but we will assert, to the fullest extent under applicable law, rights to such trademarks, service marks and trade names. The unaudited financial and operational information included in this presentation is subject to potential adjustments and is bas ed on the information available to management at this time. Potential adjustments to operational and consolidated financial information may be identified from work performed during Webull's preparation of financial statements subsequently hereto or its year - end audit. Information may also be presented differently from the information included herein in the future. This could result in significant differences from t he unaudited or other historical operational and financial information included herein. The financial information included in this presentation does not reflect the closing of the previously announced business combin ati on that occurred on April 10, 2025. 1 Disclaimers

Total Revenues ($ in millions) Q1 2025 Highlights 2 Adj. Operating Expense webullcorp.com/investor - relations/ Adjusted Operating Expense and Adjusted Operating profit are non - GAAP financial measures. Refer to the Appendix for the reconci liations of Adjusted Operating Expense and Adjusted Operating Profit to their most directly comparable GAAP measures, total o per ating expenses and (loss) income before income taxes, respectively. 88.9 117.4 0.0 20.0 40.0 60.0 80.0 100.0 120.0 Q1 2024 Q1 2025 +32% ($ in millions) 86.6 88.7 0.0 20.0 40.0 60.0 80.0 100.0 120.0 Q1 2024 Q1 2025 +2.4% Adj. Operating Profit ($ in millions) 2.3 28.7 0.0 20.0 40.0 60.0 80.0 100.0 120.0 Q1 2024 Q1 2025 2.6% 24.4% +22 pts operating profit margin improvement over Q1 last year Strong top line growth with stable opex leading to significant profit margin improvement

Webull 2025 Roadmap 3 webullcorp.com/investor - relations/ Grow customer base and customer assets • Introduce Webull Premium subscription service • Launch prediction contracts with Kalshi • Launch the Latin America Webull App Increase wallet share Q1 2025 Q2 2025 Q3 2025 Q4 2025 • Launch crypto trading in select international markets • Launch Webull App in the Netherlands • Re - launch crypto in the US • Enable advanced option strategies in international markets • Launch corporate bonds • Support extended trading hours of index options • Partner with Blackrock to provide portfolio solutions to advisor clients • Support mutual funds Focusing on expanding product offerings, entering new asset classes, and expanding access globally

97.3% 97.9% 98.4% Q1 2025 Business Results – Users 4 Funded Accounts (in millions ) Registered Users (in millions ) % Quarterly Retention webullcorp.com/investor - relations/ 98.3% 20.6 21.1 22.1 23.3 24.1 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 4.30 4.35 4.51 4.66 4.72 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 97.5% +17% year - over - year +10% year - over - year Registered users increased 17% year - over - year to 24.1 million, while funded accounts grew 10% year - over - year to 4.72 million

Q1 2025 Business Results – Customer Assets 5 Net Deposits ($ in millions ) Customer Assets ($ in billions ) webullcorp.com/investor - relations/ +45% year - over - year +66% year - over - year 8.7 9.7 11.5 13.6 12.6 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 635 1,047 1,629 1,230 1,054 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 $5.0 billion net deposits over the last twelve months While customer assets declined sequentially in Q1 due to market volatility, it still increased 45% year - over - year, driven by str ong net deposits

Equity Notional Volume ($ in billions) Q1 2025 Business Results – Trading 6 Options Contracts Volume (in millions) 111 102 119 128 128 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 +15% year - over - year 112 118 119 112 121 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 +8% year - over - year webullcorp.com/investor - relations/ Core products of equities and options trading volume increased 15% and 8% year - over - year, respectively

Total Revenues ($ in millions) Q1 2025 Financial Results – Revenues & Expenses 7 Adjusted Operating Expenses ($ in millions) +32% year - over - year +2.4% year - over - year webullcorp.com/investor - relations/ Total revenues increased 32% year - over - year while expenses growth remains disciplined 88.9 90.1 101.1 110.1 117.4 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 86.6 90.3 106.5 88.6 88.7 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25

Adjusted Operating Profit ($ in millions) Q1 2025 Financial Results – Profits and Margins 8 GAAP Net Income (Loss) Attributable to the Company ($ in millions) +$25.5 million improvement Year - over - year webullcorp.com/investor - relations/ Translating to significant improvement of the bottom line 2.6% - 0.3% - 5.3% 19.6% 24.4% % Adjusted Operating Profit Margin +22pt operating profit margin improvement over Q1 last year % Net Profit Margin - 13.9% - 12.9% - 9.4% 9.8% 11.1% +25pt net profit margin improvement over Q1 last year 2.3 - 0.3 - 5.4 21.6 28.7 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 - 12.4 - 11.6 - 9.5 10.8 13.1 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 +$26.4 million improvement year - over - year

Q1 2025 Financial Results – Trading Related Revenues 9 webullcorp.com/investor - relations/ Trading related revenues increased over 50% year - over - year on the back of volume growth and higher monetization 14.0 13.1 16.2 18.1 18.8 37.3 36.8 42.6 47.3 53.4 2.3 4.6 7.1 6.7 9.5 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 Equity Revenue Option Revenue Platform and trading fees ($ in millions) 53.6 54.5 65.9 72.1 81.7 640 646 707 778 924 DARTs in thousands DARTs refer to daily average revenue trades, which is the number of customer trades executed during a given period divided by th e number of trading days in that period.

Q1 2025 Financial Results – Interest Related Income 10 webullcorp.com/investor - relations/ Interest - related income decreased 4.3% year - over - year, mainly due to decrease in interest on client and corporate cash, partiall y offset by increase in margin financing income 5.7 7.8 7.3 5.3 5.4 7.4 7.0 8.1 7.5 8.9 15.9 13.6 14.1 17.9 14.6 3.5 3.5 3.4 2.5 2.2 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 Stock Lending Margin Financing Client Cash Corporate Cash ($ in millions) 32.5 31.9 32.9 33.2 31.1

Q1 2025 Financial Results – Adjusted Operating Expenses 11 webullcorp.com/investor - relations/ Opex has stayed flat year - over - year primarily due to optimization of marketing expenses 22.5 25.9 24.6 27.4 27.4 12.7 12.8 14.4 15.7 15.4 17.9 18.9 19.9 22.6 23.2 33.5 32.7 47.6 22.9 22.7 0.0 20.0 40.0 60.0 80.0 100.0 120.0 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 General and Administrative Technology and Development Brokerage and Transaction Marketing and Branding ($ in millions) 86.6 90.3 106.5 88.7 88.6

Appendix

Appendix: Contra Revenue 13 webullcorp.com/investor - relations/ We offer marketing promotions to our platform users that are intended to increase the amount of platform users’ assets on our pl atform by incentivizing platform users to deposit more cash or transfer securities from other third - party brokerages into their Webull bro kerage account in return for a promotional payment in cash or free shares. Most of our platform users are not considered customers under ASC 606, Revenues from Contracts with Customers (“ASC 606”), and promotional payments made to these platform users are accounted for as a marketing and branding expense . Conversely , f or our platform users who have been determined to be customers under ASC 606, we account for these promotional payments as a reduction in revenue. The following presents how contr a revenue impacted our trade related revenues. ($ in millions) Contra revenue impact on: 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 Option handling fees (0.10)$ (0.05)$ (0.03)$ (0.04)$ (0.10)$ Platform and trading fees (0.98) (0.68) (0.71) (1.03) (2.70) Total contra revenue (1.08)$ (0.73)$ (0.74)$ (1.07)$ (2.80)$

Appendix: Unaudited Reconciliations of Non - GAAP and GAAP Results Adjusted Operating Expenses and Total Operating Expenses Reconciliation: 14 ($ in millions) 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 Total operating expenses (GAAP) 98.7$ 98.8$ 111.9$ 95.2$ 96.8$ Less: share-based compensation (12.1) (8.5) (5.4) (6.6) (8.1) Adjusted operating expenses (Non-GAAP) 86.6$ 90.3$ 106.5$ 88.6$ 88.7$ 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 (Loss) income before income taxes (GAAP) (9.8)$ (10.1)$ (9.3)$ 17.1$ 19.5$ Add: Other expense (income), net - 1.3 (1.5) (2.1) 1.1 Add: Share-based compensation 12.1 8.5 5.4 6.6 8.1 Adjusted operating profit (Non-GAAP) 2.3$ (0.3)$ (5.4)$ 21.6$ 28.7$ ($ in millions) Adjusted Operating Profit Reconciliation:

Appendix: Unaudited Reconciliations of Non - GAAP and GAAP Results (Cont.) 15 Adjusted Operating Expenses Reconciliation: Certain reclassifications have been made to prior year amounts to conform to the current year presentation. The impact of the se reclassifications is immaterial to the presentation of the financials taken as a whole. ($ in millions) Operating expenses (GAAP) 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 Brokerage and transaction 17.9$ 19.0$ 19.9$ 22.5$ 23.2$ Technology and development 14.9 15.0 16.4 17.5 17.0 Marketing and branding (1) 34.0 33.2 48.2 23.3 23.0 General and administrative 31.9 31.6 27.4 31.9 33.6 Total operating expenses 98.7 98.8 111.9 95.2 96.8 Less: Share-based compensation 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 Technology and development 2.2 2.2 2.1 1.8 1.5 Marketing and branding 0.5 0.5 0.5 0.5 0.3 General and administrative 9.4 5.8 2.8 4.3 6.3 Total share-based compensation 12.1 8.5 5.4 6.6 8.1 Adjusted operating expenses (Non-GAAP) 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 Brokerage and transaction 17.9 19.0 19.9 22.5 23.2 Technology and development 12.7 12.8 14.3 15.7 15.5 Marketing and branding 33.5 32.7 47.7 22.8 22.7 General and administrative 22.5 25.8 24.6 27.6 27.3 Total adjusted operating expenses 86.6$ 90.3$ 106.5$ 88.6$ 88.7$

Thank You!