Real Matters Overview November 2017 Jason Smith Chief Executive - PowerPoint PPT Presentation

Real Matters Overview November 2017 Jason Smith Chief Executive Officer Bill Herman Chief Financial Officer

Caution Regarding Forward-Looking Statements This presentation contains forward-looking statements that relate to our current expectations and views of future events including but not limited to future market share and transaction volumes. In some cases, these forward-looking statements can be identified by words or phrases such as ‘‘forecast’’, ‘‘target’’, ‘‘goal’’, ‘‘may’’, ‘‘might’’, ‘‘will’’, ‘‘expect’’, ‘‘anticipate’’, ‘‘estimate’’, ‘‘intend’’, ‘‘plan’’, ‘‘indicate’’, ‘‘seek’’, ‘‘believe’’, ‘‘predict’’, or ‘‘likely’’, or the negative of these terms, or other similar expressions intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe might affect our financial condition, results of operations, business strategy and financial needs. A comprehensive discussion of the risks that impact Real Matters can be found in the Company's Final Long Form Prospectus dated May 5, 2017 available on SEDAR at www.sedar.com. Actual results may differ materially from those indicated or underlying forward-looking statements as a result of various factors, including those described under the heading “Important Factors Affecting Results from Operations” outlined in the Strategy and Outlook section of the Company’s MD&A for the years ended September 30, 2017 and 2016. Real Matters cautions that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. Information contained in forward-looking statements in this presentation is provided as of the date of this presentation and we disclaim any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws. All of the forward-looking statements made in this presentation are qualified by these cautionary statements and other cautionary statements or factors contained herein and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. No Non-GA GAAP M Measu sures This presentation makes reference to certain Non-GAAP financial measures. Real Matters prepares its financial statements in accordance with International Financial Reporting Standards ("IFRS" or “GAAP”). However, the Company considers certain non-GAAP financial measures as useful additional information in measuring its financial performance and condition. These measures, which the Company believes are widely used by investors, securities analysts and other interested parties in evaluating our performance, do not have a standardized meaning prescribed by GAAP and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-GAAP measures include “Adjusted EBITDA”, “Net Revenue” and “Adjusted Net Income or Loss”. See "Non-GAAP measures" in Real Matters’ MD&A for the years ended September 30, 2017 and 2016 for a more complete description of these terms. 2 2

Presenters Jason Smith Bill Herman President and Chief Executive Officer Executive Vice President and Chief Financial Officer 20+ years of experience building and leading • companies in North America 20+ years of experience in finance and accounting, • and a proven track record of leadership in a public Founder, director and executive of one of the • company environment largest technology providers to the North American mortgage industry Former Executive Vice President and Interim Chief • Financial Officer at Progressive Waste Solutions, a multi-billion dollar North American full-service waste management company

Real Matters Overview Leading Provider of Network Management Services for the Mortgage Lending and Insurance Industries Platform combines proprietary technology and network management capabilities with • tens of thousands of independent Field Agents, such as residential real estate appraisers $16B 4 Realized significant success and disrupted segments of the mortgage lending and • insurance industries Clients include more than 60 of top 100 mortgage lenders in the U.S. 1 and Large Addressable • three of the Big Five Banks in Canada Market with Provides one in 15 residential mortgage appraisals in the U.S. 2 • Significant Runway Recently won MSAs with five Tier 1 mortgage lenders in the U.S. • Adjusted EBITDA 3 positive since F2012 for Growth • Invested significantly in our technology • Entered title and closing market – provides opportunity to leverage our Platform • and client relationships to grow title and closing market share Strong Market Share Growth and Financial Performance (in $ millions) $92.3 30% 17% 2017 YoY $68.3 2017 YoY 6.5% Mortgage 0.3% Title & Closing Appraisal Market Share 6 Market Share 5 Growth Growth $33.7 0.2% $12.8 $9.4 $5.3 2.4% 2013 2014 2015 2016 2017 2015 2016 2017 2015 2016 2017 3 3 Net Revenue Adjusted EBITDA 1. Based on having completed at least one transaction with Real Matters in the fiscal year ended September 30, 2017. Top 100 mortgage lenders according to Inside Mortgage Finance website: Top 100 Mortgage Lenders (twelve months ended December 31, 2016). 2. Management estimate based on data from the MBA Mortgage Finance Forecast Report of October 24, 2017. 3. Net Revenue and Adjusted EBITDA are non-GAAP measures. See “Non-GAAP Measures” on page 2 of this Presentation. 4. Management estimates of the residential mortgage appraisal market size of calendar 2016 based on data from the MBA Mortgage Finance Forecast Report of October 24, 2017, plus management estimates of the title market size measured by written premium based data from American Land Title Association Data as of June 30, 2017. Total addressable market based on roll-out of the Company’s Next Generation Closing strategy. 5. Management estimate based on data from the MBA Mortgage Finance Forecast Report of October 24, 2017. 6. Management estimate of Residential Title Written Premium Market Share based 4 4 on data from the American Land Title Association as of June 30, 2017 and Demotech, Inc. for period ending December 31, 2015.

Investment Highlights 1 Best in Class Technology-Based Platform 2 Large Addressable Market 3 Scalable Platform with Compelling Network Effect 4 Large Blue-Chip Client Base with Notable Recent Tier 1 Client Wins 5 Compelling, Multi-Pronged Growth Strategy 6 Attractive Financial Model 7 Proven Management Team 5

How Our Network Management Platform Works Best Performing Appraiser 1 2 Case Study: Prince William County, Virginia 1 Lender Fee $472 Real Matters Appraiser Fee Ave. Direct Cost Per Appraisal $355 Cost to Serve Contribution Margin $12 $28 $77 Better Performance 4 3 Increased Client Market Share (illustrative) Case Study: Prince William County, Virginia 1 Traditional Real AMC Matters 2 to 35% Turn Time 7-9 days 5.3 days 5.6% Defect Rate 15-20% 1. Based on Real Matters` actual average for a standard interior appraisal in Prince William County, VA, during Fiscal Q3 and Q4 2016 (April to September 2016). Traditional Appraisal Management Company turn times and defect rates are management estimates of average competitor 6 metrics based on internal market research and do not relate to any particular competitor or geographic region.

Established and Growing Blue Chip Client Base Lengthy and Complex Sales Cycle Developed Blue Chip Client Base Up to 5 Years to get to 1 st Transaction Blue-chip client base developed over lengthy and • complex sales cycle Client Engagement Activities Request for Information Proven compliance and regulatory systems in place to • meet client requirements and help retain and develop Request for Proposal key clients On-site Visits Master Services Agreement U.S. Customer Segmentation Real Matters clients include 60 of top 100 mortgage Audits lenders in the U.S. 1 and all Tier 1 mortgage lenders Technology Integration 35% 29% 28% Roll-out Plan Market Share Expansion 8% After Deployment Tier 1 Tier 2 Tier 3 Tier 4 Year 1 Year 2 Year 3 BUILD GROW OPTIMIZE 7-30 Top 5 Banks 31-100 ~7,000 Mortgage by Asset Mortgage Mortgage Size and the Banks, Banks, Banks, Lenders Largest Lenders Lenders 0-15% 35-40% and Credit and Credit and Credit Non-Bank Unions Mortgage Unions Unions Lender Source: Inside Mortgage Finance Top 100 Mortgage Lenders List – March 31, 2017 7 1. Based on having completed at least one transaction with Real Matters in the fiscal year ended September 30, 2017. Top 100 mortgage lenders according to Inside Mortgage Finance website: Top 100 Mortgage Lenders (12 months ended December 31, 2016).