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Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share

Company Highlights:
•GAAP net loss of $(37.3) million, or $(0.20) per diluted common share
•Distributable earnings1 of $0.10 per diluted common share, or $0.15 excluding $9.6 million of net realized losses from the resolution of certain legacy assets
•Generated ~$500 million of additional liquidity through two recent capital markets transactions with a portion of the proceeds used to:
◦Repurchase $114.3 million of common stock at $5.42 per share, or 49% of book value in July 2026
◦Redeem $270 million of senior notes in July 2026
•Repurchased an additional $20.8 million of stock at $5.85 per share, or 53% of book value
•Declares cash dividend on common stock of $0.17 per share
•Servicing portfolio of ~$36.70 billion, agency loan originations of $1.08 billion
•Structured loan portfolio of ~$12.11 billion, originations of $689.0 million and runoff of $539.7 million


Uniondale, NY, July 31, 2026 -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced financial results for the second quarter ended June 30, 2026. Arbor reported a net loss for the quarter of $(37.3) million, or $(0.20) per diluted common share, compared to net income of $24.0 million, or $0.12 per diluted common share for the quarter ended June 30, 2025. Distributable earnings for the quarter was $21.7 million, or $0.10 per diluted common share, compared to $52.1 million, or $0.25 per diluted common share for the quarter ended June 30, 2025.




Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 2
Agency Business
Loan Origination Platform
 Agency Loan Volume (in thousands)
 Quarter Ended
 June 30, 2026March 31, 2026
Fannie Mae$619,130 $570,815 
Freddie Mac428,278 91,255 
SFR-Fixed Rate21,272 — 
FHA8,083 45,507 
Total Originations$1,076,763 $707,577 
 
Total Loan Sales$1,143,438 $670,972 
  
Total Loan Commitments$1,211,900 $733,860 
For the quarter ended June 30, 2026, the Agency Business generated revenues of $64.5 million, compared to $57.9 million for the first quarter of 2026. Gain on sales, including fee-based services, net was $15.2 million for the quarter, reflecting a margin of 1.33%, compared to $12.5 million and 1.86% for the first quarter of 2026. Income from mortgage servicing rights was $12.1 million for the quarter, reflecting a rate of 1.00% as a percentage of loan commitments, compared to $9.7 million and 1.32% for the first quarter of 2026.
At June 30, 2026, loans held-for-sale was $375.8 million, with financing associated with these loans totaling $359.3 million.
Fee-Based Servicing Portfolio
The Company’s fee-based servicing portfolio totaled $36.70 billion at June 30, 2026. Servicing revenue, net was $23.9 million for the quarter and consisted of servicing revenue of $42.1 million, net of amortization of mortgage servicing rights totaling $18.2 million.

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
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 Fee-Based Servicing Portfolio ($ in thousands)
 June 30, 2026March 31, 2026
 UPBWtd. Avg. Fee (bps)Wtd. Avg. Life (years)UPBWtd. Avg. Fee (bps)Wtd. Avg. Life (years)
Fannie Mae$24,419,734 43.95.2$24,261,724 44.45.4
Freddie Mac7,672,121 17.65.77,368,979 18.25.7
Private Label2,477,077 18.74.12,554,209 18.74.3
FHA1,585,871 13.818.91,584,644 13.819.0
Bridge277,333 10.41.7277,523 10.42.0
SFR-Fixed Rate272,226 20.03.8264,008 20.03.8
Total$36,704,362 35.05.8$36,311,087 35.55.9
Loans sold under the Fannie Mae program contain an obligation to partially guarantee the performance of the loan (“loss-sharing obligations”) and includes $36.6 million for the fair value of the guarantee obligation undertaken at June 30, 2026. The Company recorded a $12.9 million net provision for loss sharing associated with CECL for the second quarter of 2026. At June 30, 2026, the Company’s total CECL allowance for loss-sharing obligations was $82.3 million, representing 0.34% of the Fannie Mae servicing portfolio.

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 4
Structured Business
Portfolio and Investment Activity
 Structured Portfolio Activity ($ in thousands)
 Quarter Ended
 June 30, 2026March 31, 2026
 UPB% UPB%
Bridge:  
SFR$490,617 71%$321,122 42%
Multifamily159,550 23%405,600 53%
650,167 94%726,722 95%
 
Construction - Multifamily38,810 6%40,870 5%
Total Originations$688,977 100%$767,592 100%
   
Number of Loans Originated14 6 
   
Commitments:
SFR$48,785  $53,000  
Construction - Multifamily—  113,070 
Total Commitments$48,785 $166,070 
Loan Runoff$539,745  $861,033  

Structured Portfolio ($ in thousands)
June 30, 2026March 31, 2026
UPB% UPB%
Bridge:  
Multifamily$7,895,187 65%$7,897,122 66%
SFR3,376,845 28%3,265,802 27%
Other46,519 <1%46,519 <1%
11,318,551 94%11,209,443 94%
  
Mezzanine/Preferred Equity502,998 4%497,961 4%
Construction - Multifamily285,482 2%289,889 2%
Total Portfolio$12,107,031 100%$11,997,293 100%
At June 30, 2026, the loan and investment portfolio’s unpaid principal balance ("UPB"), excluding loan loss reserves, was $12.11 billion, with a weighted average interest rate of 6.50%, compared to

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 5
$12.00 billion and 6.49% at March 31, 2026. Including certain fees earned and costs associated with the loan and investment portfolio, the weighted average interest rate was 6.95% at June 30, 2026, compared to 7.03% at March 31, 2026.
The average balance of the Company’s loan and investment portfolio during the second quarter of 2026, excluding loan loss reserves, was $12.08 billion with a weighted average yield of 7.21%, compared to $12.04 billion and 7.50% for the first quarter of 2026. The decrease in the weighted average yield was primarily due to less default and back interest collected in the second quarter of 2026, as well as from additional delinquencies and rate modifications in the second quarter of 2026.
During the second quarter of 2026, the Company recorded a $38.2 million net provision for loan losses associated with CECL. At June 30, 2026, the Company’s total allowance for loan losses was $163.4 million. The Company had nineteen non-performing loans with a UPB of $428.8 million, before related loan loss reserves of $31.1 million, compared to nineteen non-performing loans with a UPB of $481.5 million, before loan loss reserves of $16.1 million at March 31, 2026. In addition, the Company recorded $13.6 million of impairments on two real estate owned properties.
In addition, at June 30, 2026, the Company had three non-accrual loans with a UPB of $94.9 million that were less than 60 days past due, compared to none at March 31, 2026.
During the second quarter of 2026, the Company modified 7 loans to borrowers experiencing financial difficulty with a total UPB of $386.9 million, the majority of which had borrowers investing additional capital to recapitalize their deals.
The Company foreclosed on five loans with a UPB totaling $121.4 million, selling two of these foreclosed properties and three existing REO properties for $79.8 million.
Financing Activity
The balance of debt that finances the Company’s loan and investment portfolio at June 30, 2026 was $10.48 billion with a weighted average interest rate including fees of 6.38%, as compared to $10.71 billion and a rate of 6.40% at March 31, 2026.
The average balance of debt that finances the Company’s loan and investment portfolio for the second quarter of 2026 was $10.51 billion, as compared to $10.38 billion for the first quarter of 2026. The average cost of borrowings for the second quarter of 2026 was 6.56%, compared to 6.67% for the first quarter of 2026. The decrease in average cost was primarily due to reduced pricing associated with CLO activity, as well as a decrease in the average SOFR rate in the second quarter of 2026.
The Company redeemed in full and at par a legacy CLO with $787.0 million of outstanding notes, financing the underlying assets through existing repurchase facilities with significantly improved terms. The transaction enhanced leverage, reduced financing costs and generated approximately $132.3 million of additional liquidity.
In July 2026, the Company completed an upsized $375.0 million offering of 6.25% convertible senior notes due 2029. The Company is using the offering proceeds to redeem its $270.0 million of 4.50% senior notes due 2026 and to repurchase common stock through two separate transactions: $11.6

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 6
million to repurchase ~2.1 million shares concurrently with the pricing of the offering and $102.7 million to repurchase ~18.9 million shares pursuant to a prepaid forward stock repurchase transaction.
Dividend
The Company announced today that its Board of Directors has declared a quarterly cash dividend of $0.17 per share of common stock for the quarter ended June 30, 2026. The dividend is payable on August 28, 2026 to common stockholders of record on August 14, 2026.
Earnings Conference Call
The Company will host a conference call today at 10:00 a.m. Eastern Time. A live webcast and replay of the conference call will be available at www.arbor.com in the investor relations section of the Company’s website, or you can access the call telephonically at least ten minutes prior to the conference call. The dial-in numbers are (833) 419-0865 for domestic callers and (785) 838-9333 for international callers. Please use participant passcode ABRQ226 when prompted by the operator.
A telephonic replay of the call will be available until August 7, 2026. The replay dial-in numbers are (800) 925-9416 for domestic callers and (402) 220-5387 for international callers.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a leading Fannie Mae DUS® lender and Freddie Mac Optigo® Seller/Servicer, and an approved FHA Multifamily Accelerated Processing (MAP) lender. Arbor’s product platform also includes bridge, CMBS, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality, and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.
Safe Harbor Statement
Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, changes in economic conditions generally, and the real estate markets specifically, continued ability to source new investments, changes in interest rates and/or credit spreads, and other risks detailed in Arbor’s Annual Report on Form 10-K for the year ended December 31, 2025 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 7
forward-looking statements contained herein to reflect any change in Arbor’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.
Notes
1.During the quarterly earnings conference call, the Company may discuss non-GAAP financial measures as defined by SEC Regulation G. In addition, the Company has used non-GAAP financial measures in this press release. A supplemental schedule of non-GAAP financial measures and the comparable GAAP financial measure can be found on the last two pages of this release.

Contact:
Arbor Realty Trust, Inc.
Investor Relations
516-506-4200
InvestorRelations@arbor.com

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 8
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Consolidated Statements of Operations - (Unaudited)
($ in thousands—except share and per share data)
 
Quarter Ended June 30,
Six Months Ended June 30,
 2026202520262025
Interest income$230,858 $240,303 $465,905 $480,997 
Interest expense177,761 171,578 352,963 336,829 
Net interest income53,097 68,725 112,942 144,168 
Other revenue:  
Gain on sales, including fee-based services, net15,176 13,658 27,681 26,439 
Mortgage servicing rights12,110 10,930 21,770 19,061 
Servicing revenue, net23,879 27,437 49,619 53,040 
Property operating income8,313 5,452 16,373 9,839 
Gain on derivative instruments, net1,041 219 548 3,619 
Other income, net2,260 3,989 4,336 8,407 
Total other revenue62,779 61,685 120,327 120,405 
Other expenses:  
Employee compensation and benefits45,096 41,181 92,779 87,217 
Selling and administrative15,868 14,859 32,821 31,171 
Property operating expenses12,670 6,802 24,635 10,276 
Depreciation and amortization5,929 5,848 13,033 9,592 
Impairment loss on real estate owned13,650 — 26,150 — 
Provision for loss sharing, net13,472 4,215 18,009 6,002 
Provision for credit losses, net38,163 19,004 43,979 28,079 
Total other expenses144,848 91,909 251,406 172,337 
(Loss) income before extinguishment of debt, gain (loss) on real estate, income from equity affiliates and income taxes(28,972)38,501 (18,137)92,236 
Loss on extinguishment of debt— — — (2,319)
Gain (loss) on real estate64 (1,448)(2,073)(4,258)
Income from equity affiliates1,893 2,654 6,304 1,020 
Provision for income taxes(3,150)(3,398)(5,235)(6,989)
Net (loss) income(30,165)36,309 (19,141)79,690 
Preferred stock dividends10,342 10,342 20,684 20,684 
Net (loss) income attributable to noncontrolling interest(3,165)2,015 (3,112)4,617 
Net (loss) income attributable to common stockholders$(37,342)$23,952 $(36,713)$54,389 
Basic (loss) earnings per common share$(0.20)$0.12 $(0.19)$0.28 
Diluted (loss) earnings per common share$(0.20)$0.12 $(0.19)$0.28 
Weighted average shares outstanding:  
Basic190,806,800192,236,206192,491,494191,154,501
Diluted190,806,800209,003,002192,491,494207,938,574
Dividends declared per common share$0.17 $0.30 $0.47 $0.73 

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 9
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
($ in thousands—except share and per share data)
 June 30, 2026
 (Unaudited)December 31, 2025
Assets:  
Cash and cash equivalents$287,525 $482,875 
Restricted cash 138,382 67,347 
Loans and investments, net (allowance for credit losses of $163,431 and $145,971)
11,915,216 11,934,248 
Loans held-for-sale, net375,797 409,081 
Capitalized mortgage servicing rights, net323,887 340,842 
Securities held-to-maturity, net (allowance for credit losses of $14,343 and $17,013)
157,137 156,087 
Investments in equity affiliates82,762 57,966 
Real estate owned, net545,946 498,938 
Goodwill and other intangible assets85,770 86,553 
Other assets 440,403 460,966 
Total assets$14,352,825 $14,494,903 
Liabilities and Equity:  
Credit and repurchase facilities$5,812,258 $5,149,651 
Securitized debt2,972,246 3,468,258 
Senior unsecured notes1,857,769 2,029,078 
Junior subordinated notes to subsidiary trust issuing preferred securities145,907 145,497 
Notes payable - real estate owned270,410 222,965 
Due to borrowers27,562 33,451 
Allowance for loss-sharing obligations118,898 97,579 
Other liabilities266,752 281,271 
Total liabilities11,471,802 11,427,750 
Equity:  
Arbor Realty Trust, Inc. stockholders' equity:  
Preferred stock, cumulative, redeemable, $0.01 par value: 100,000,000 shares authorized, shares issued and outstanding by period:633,683 633,683 
        Special voting preferred shares - 16,170,218 and 16,169,858 shares
  
6.375% Series D - 9,200,000 shares
  
6.25% Series E - 5,750,000 shares
  
6.25% Series F - 11,342,000 shares
  
Common stock, $0.01 par value: 500,000,000 shares authorized - 188,981,757 and 195,491,855 shares issued and outstanding
1,890 1,955 
Additional paid-in capital2,409,539 2,454,312 
Accumulated deficit(267,177)(136,597)
Total Arbor Realty Trust, Inc. stockholders' equity2,777,935 2,953,353 
Noncontrolling interest103,088 113,800 
Total equity2,881,023 3,067,153 
Total liabilities and equity $14,352,825 $14,494,903 

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 10
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Statement of Operations Segment Information - (Unaudited)
(in thousands)
 
Quarter Ended June 30, 2026
 Structured
Business		Agency
Business
Other (1)
Consolidated
Interest income$219,211 $11,647 $— $230,858 
Interest expense172,066 5,695 — 177,761 
Net interest income47,145 5,952 — 53,097 
Other revenue:    
Gain on sales, including fee-based services, net— 15,176 — 15,176 
Mortgage servicing rights— 12,110 — 12,110 
Servicing revenue— 42,126 — 42,126 
Amortization of MSRs— (18,247)— (18,247)
Property operating income8,313 — — 8,313 
Gain on derivative instruments, net— 1,041 — 1,041 
Other income, net1,638 622 — 2,260 
Total other revenue9,951 52,828 — 62,779 
Other expenses:    
Employee compensation and benefits18,667 26,429 — 45,096 
Selling and administrative8,269 7,599 — 15,868 
Property operating expenses12,670 — — 12,670 
Depreciation and amortization5,537 392 — 5,929 
Impairment loss on real estate owned13,650 — — 13,650 
Provision for loss sharing, net— 13,472 — 13,472 
Provision for credit losses, net38,245 (82)— 38,163 
Total other expenses97,038 47,810 — 144,848 
(Loss) income before gain on real estate, income from equity affiliates and income taxes(39,942)10,970 — (28,972)
Gain on real estate64 — — 64 
Income from equity affiliates1,893 — — 1,893 
Provision for income taxes(626)(2,524)— (3,150)
Net (loss) income(38,611)8,446 — (30,165)
Preferred stock dividends10,342 — — 10,342 
Net loss attributable to noncontrolling interest— — (3,165)(3,165)
Net (loss) income attributable to common stockholders$(48,953)$8,446 $3,165 $(37,342)
(1)Includes income (loss) allocated to the noncontrolling interest holders not allocated to the two reportable segments.

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 11
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Balance Sheet Segment Information - (Unaudited)
(in thousands)
 June 30, 2026
 Structured BusinessAgency BusinessConsolidated
Assets:   
Cash and cash equivalents$58,886 $228,639 $287,525 
Restricted cash103,077 35,305 138,382 
Loans and investments, net11,915,216 — 11,915,216 
Loans held-for-sale, net— 375,797 375,797 
Capitalized mortgage servicing rights, net— 323,887 323,887 
Securities held-to-maturity, net— 157,137 157,137 
Investments in equity affiliates82,762 — 82,762 
Real estate owned, net545,946 — 545,946 
Goodwill and other intangible assets12,500 73,270 85,770 
Other assets345,603 94,800 440,403 
Total assets$13,063,990 $1,288,835 $14,352,825 
    
Liabilities:   
Debt obligations$10,699,313 $359,277 $11,058,590 
Allowance for loss-sharing obligations— 118,898 118,898 
Other liabilities211,266 83,048 294,314 
Total liabilities$10,910,579 $561,223 $11,471,802 

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 12
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
Reconciliation of Distributable Earnings to GAAP Net (Loss) Income - (Unaudited)
($ in thousands—except share and per share data)
Quarter Ended June 30,
Six Months Ended June 30,
2026202520262025
Net (loss) income attributable to common stockholders$(37,342)$23,952 $(36,713)$54,389 
Adjustments:
Net (loss) income attributable to noncontrolling interest(3,165)2,015 (3,112)4,617 
Income from mortgage servicing rights(12,110)(10,930)(21,770)(19,061)
Deferred tax benefit(2,211)(1,603)(4,791)(1,741)
Amortization and write-offs of MSRs21,093 19,825 40,433 40,689 
Depreciation and amortization6,876 6,582 14,692 11,149 
Loss on extinguishment of debt— — — 2,319 
Provision for credit losses, net40,532 8,435 19,654 9,192 
(Gain) loss on derivative instruments, net(477)(674)821 (5,371)
Loss on real estate5,388 1,857 17,917 4,667 
Stock-based compensation3,125 2,610 9,029 8,545 
Distributable earnings (1)$21,709 $52,069 $36,160 $109,394 
Diluted weighted average shares outstanding (1) (2)207,661,095209,003,002209,687,157207,938,574
Diluted distributable earnings per share (1)$0.10 $0.25 $0.17 $0.53 
(1)Amounts are attributable to common stockholders and OP Unit holders. The OP Units are redeemable for cash, or at the Company's option for shares of the Company's common stock on a one-for-one basis.
(2)For the quarter and six months ended June 30, 2025, the diluted weighted average shares outstanding exclude the potential shares issuable upon conversion and settlement of the Company's convertible senior notes principal balance.
The Company is presenting distributable earnings because management believes it is an important supplemental measure of the Company's operating performance and is useful to investors, analysts and other parties in the evaluation of REITs and their ability to provide dividends to stockholders. Dividends are one of the principal reasons investors invest in REITs. To maintain REIT status, REITs are required to distribute at least 90% of their REIT-taxable income. The Company considers distributable earnings in determining its quarterly dividend and believes that, over time, distributable earnings is a useful indicator of the Company's dividends per share.

The Company defines distributable earnings as net income (loss) attributable to common stockholders computed in accordance with GAAP, adjusted for accounting items such as depreciation and amortization (adjusted for unconsolidated joint ventures), non-cash stock-based compensation expense, income from MSRs, amortization and write-offs of MSRs, gains/losses on derivative instruments primarily associated with Private Label loans not yet sold and securitized, changes in fair value of GSE-related derivatives that temporarily flow through earnings, deferred tax provision (benefit), CECL provisions for credit losses (adjusted for realized losses as described below), gains/losses on the receipt of real estate from the settlement of loans and subsequent impairment losses on real estate owned prior to the sale of the real estate. The Company also adds back one-time charges such as acquisition costs and one-time gains/losses on the early extinguishment of debt and redemption of preferred stock.

The Company reduces distributable earnings for realized losses in the period management determines that a loan is deemed nonrecoverable in whole or in part. Loans are deemed nonrecoverable upon the earlier of: (1) when the loan receivable is repaid, or in the case of foreclosure, when the underlying asset is sold at which time any impairments and/or cumulative depreciation expense are realized; or (2) when management determines that it is nearly certain that all amounts due will not

Arbor Realty Trust Reports Second Quarter 2026 Results and Declares Dividend of $0.17 per Share
July 31, 2026
Page 13
be collected. The realized loss amount is equal to the difference between the cash received, or expected to be received, and the book value of the asset.
Distributable earnings is not intended to be an indication of the Company's cash flows from operating activities (determined in accordance with GAAP) or a measure of its liquidity, nor is it entirely indicative of funding the Company's cash needs, including its ability to make cash distributions. The Company's calculation of distributable earnings may be different from the calculations used by other companies and, therefore, comparability may be limited.