Figure Enters into Agreement to Acquire Kiavi, Bolstering Blockchain-Native Marketplace

• Figure to acquire Kiavi’s technology and operating platform; a joint venture between Sixth Street and Figure to acquire Kiavi’s balance sheet assets.
• With this transaction, the #1 Residential Transition Loan (“RTL”)¹ lender joins the leading
  home equity marketplace.
• Acquisition adds over $7 billion in new annual first-lien volume to Figure Connect
  marketplace and more than $100 million monthly to Democratized Prime.
• Asset class will be the first use case for fully agentic, agent-to-agent onboarding
  featuring Adaptor, Figure’s newest AI product.

New York, June 10, 2026 – Figure Technology Solutions, Inc. (“Figure,” Nasdaq: FIGR; OPEN:
FGRS), the blockchain-native capital marketplace for the origination, funding, sale, and trading
of tokenized assets, today announced a definitive agreement to acquire Kiavi, an AI-powered
lending platform for residential real estate investors. The transaction includes the purchase of
Kiavi’s balance sheet assets by a joint venture between Figure and Sixth Street, a leading
global investment firm, which is buying loans off Kiavi’s balance sheet. The total transaction
purchase price is $717 million.

Kiavi’s AI-powered platform provides real estate investors with the capital they need to buy,
renovate and/or rent investment properties at scale. Kiavi’s products include short-term
Residential Transition Loans (“RTL”) and long-term rental property loans known as Debt Service
Coverage Ratio (“DSCR”) loans, a growing product within Figure’s existing portfolio. This
transaction represents a $200 billion annual addressable origination opportunity that will be
brought onto Figure’s tokenized rails.

Acquiring Kiavi supports four objectives:

• Tokenized Asset Scale: Advances Figure’s mission of modernizing capital markets by
  bringing all assets onto blockchain. Figure currently accounts for 75% of real-world asset
  tokenization, and Kiavi is expected to instantly add $7 billion in annual volume, including
  over $100 million of monthly flow on Democratized Prime, Figure’s blockchain-native
  warehouse marketplace where lenders are matched with investors in search of
  institutional-grade returns.
• Bolsters First-Lien Focus: Further vertically integrates Figure’s product stack into the
  company’s first-lien segment, which grew approximately 2.5 times year-over-year in
  2025. The first-lien market is 25 times larger than second-lien, and with Kiavi, Figure’s
  consumer loan marketplace volume is projected to reach 40%+ first-lien for the full year
  2027.
• Figure Reinforces 60% Medium-Term EBITDA Margin Target. The Kiavi platform that
  Figure is purchasing will be high-margin and asset-light. With the combined businesses’
  shared operational strengths and expanded scale, Figure is reaffirming its margin target
  and expects both accretion to Earnings per Share and an unlevered cash payback in
  less than four years.
• Agent-to-Agent Adaptor Onboarding: Adaptor, Figure’s newest AI product, supports
  Agent-to-Agent onboarding to impose uniformity to disparate originator data schemes
  across all asset types in Figure Connect and Democratized Prime, saving partners
  months’ worth of time and resources when onboarding. Kiavi assets will be Adaptor’s
  first use case.

“Figure is relentless in our pursuit of moving the capital markets onto blockchain rails, and nine
months past our successful IPO, this Kiavi transaction is a further pole vault into tokenization,
first-lien diversification and our agentic AI platform,” said Michael Tannenbaum, Figure CEO.
“Adding Kiavi’s RTL and DSCR capabilities into our partner network will symbiotically
supercharge their growth and the growth of our consumer loan marketplace.”

“For the past 13 years, Kiavi has been focused on powering our data flywheel and proving
what’s possible when technology and industry expertise converge,” said Arvind Mohan, CEO of
Kiavi. “This transaction represents a massive leap forward for the asset class. With Kiavi’s
industry-leading platform powered by Figure’s innovative blockchain marketplace, we have the
opportunity to deliver an entirely new – and unmatched – standard of reach, reliability, and
execution.” Following the deal close, Mohan will join Figure’s executive team as Chief Business
Officer.

Like Figure, Kiavi has benefited from strong U.S. housing fundamentals, an aging housing stock
that demands investment, and the opportunity for technology to solve manual origination
processes and rigid capital markets. Last year was a record-breaking year for Kiavi, with over
$250 million of reported revenue and over $100 million in reported EBITDA.

Figure combines the high-quality, structured data of blockchain as an infrastructure layer with
custom-built AI that acts as a decision layer. Kiavi similarly specializes in AI-powered
decisioning on large, unique data sets, including its proprietary post-renovation home value
engine and document review technologies.

Figure’s AI-enabled marketplace infrastructure will facilitate Kiavi’s origination flow, loan trading
counterparties, and funding distribution, which will be integrated materially faster and at lower
operational cost than traditional financial infrastructure platforms, and is reflected in the
reaffirmed 60% EBITDA margin target. This infrastructure creates scalability and margin
advantages as additional asset classes and originators are brought onto the network.

“As long-standing partners of Figure, we are proud to continue working together as Kiavi joins
the Figure platform,” said Michael Dryden, Partner and Head of Asset Based Finance at Sixth
Street. “We are pleased to be contributing our residential mortgage and private credit expertise
to support Kiavi’s growth as a leading originator.”

“Blockchain is a big idea, but the on-chain capital markets are in their infancy. Figure needs to
make bold moves to bring entire asset classes on chain,” said Mike Cagney, Figure Co-Founder
and Executive Chairman.

To learn more, visit Figure.com.

Webcast Information:

Figure will host a conference call and webcast today, June 10 at 8:30 a.m. Eastern Time, to
discuss this transaction. A link to the live discussion and accompanying presentation will be
made available on the Company’s investor relations website at https://investors.figure.com/. A
replay will also be made available following the discussion at the same website.

Advisors:

Barclays Capital Inc. served as exclusive financial advisor to Figure and Sixth Street, and
Jefferies LLC served as exclusive financial advisor to Kiavi. Latham & Watkins served as legal
counsel to Figure, Wachtell, Lipton, Rosen & Katz served as legal counsel to Sixth Street and
Wilson Sonsini Goodrich & Rosati served as legal counsel to Kiavi.

About Figure:

Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS) is a blockchain-native capital
marketplace that seamlessly connects origination, funding, and secondary market activity. More
than 380 partners use its loan origination system and capital marketplace. Collectively, Figure
and its partners have originated over $25 billion of home equity to date, among other products,
making Figure’s ecosystem the largest non-bank provider of HELOCs. The fastest growing
components are Figure Connect, its consumer credit marketplace, and Democratized Prime,
Figure’s on-chain decentralized lending marketplace. Figure’s ecosystem also includes DART
(Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS, an SEC-
registered yield-bearing stablecoin that is issued by a tokenized face-amount certificate
company, which is a type of registered investment company.

Figure is the market leader in real-world asset tokenization. The company has received AAA
ratings from S&P and Moody’s on multiple loan securitizations, the first of its kind for blockchain
finance. For more information, visit https://figure.com or follow Figure on LinkedIn.

About Sixth Street

Sixth Street is a global investment firm with over $130 billion in assets under management and
committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and
One Team culture to develop themes and offer solutions to companies across all stages of
growth. Founded in 2009, Sixth Street has more than 750 team members including
approximately 300 investment professionals around the world.² For more information, and
additional disclosures, visit www.sixthstreet.com, and follow Sixth Street on LinkedIn.

About Kiavi

With more than $30 billion in funded loans, Kiavi is one of the nation’s largest non-bank lenders
to residential real estate investors (“REIs”). Kiavi harnesses the power of data and technology to
offer REIs a simpler, more reliable, and faster way to access the capital they need to scale their
businesses. Founded as LendingHome in 2013 by Matt Humphrey and James Herbert, and
backed by Foundation Capital, Ribbit Capital, RenRen and other fintech investors, Kiavi is
committed to helping its customers revitalize the approximately $25 trillion of aged U.S. housing
stock to provide move-in ready homes and rental housing for millions of Americans across the
country. For more information, visit www.kiavi.com.

¹ #1 Residential Transition Loan (RTL)

² Total Sixth Street employees as of 3/31/2026

Forward-Looking Statements Disclosure

This press release contains forward-looking statements intended to be covered by the safe
harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements other than statements of
historical fact contained in this press release, including without limitation statements regarding
our future financial performance, including our expectations regarding our revenue, cost of
revenue, operating expenses; our ability to determine reserves, and ability to remain profitable;
our ability to maintain, expand, and enter into new relationships with partners and loan
purchasers on the secondary market; our ability to broaden our network of partners; and our
ability to successfully execute our business and growth strategy; marketplace volume, adoption,
and liquidity, including the growth and performance of our Consumer Loan Marketplace, Figure
Connect, and Democratized Prime platforms; our blockchain ecosystem and infrastructure
initiatives, including our ability to expand the adoption of our blockchain-native products and
services and the development and performance of our digital asset offerings; and the pending
acquisition of Kiavi, including our ability to complete the transaction on the anticipated terms and
timeline, the expected benefits, synergies, and financial impact of the acquisition, our ability to
successfully integrate Kiavi’s platform and operations, and the joint venture with Sixth Street,
and our AI product initiatives, including the expected capabilities and deployment of Adaptor
involve known and unknown risks, uncertainties, and other important factors that may cause
actual results to differ materially from those expressed or implied by the forward-looking
statements. In some cases, you can identify forward-looking statements by terms such as
“may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,”
“contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these
terms, and similar expressions. Forward-looking statements are predictions based largely on
our current expectations and projections about future events and financial trends that we believe
may affect our business, financial condition, and results of operations. These statements speak
only as of the date of this press release.

Important factors that could cause actual results to differ materially include, among others: our
history of losses and the risk that we may not maintain profitability; our reliance on HELOCs and
exposure to fluctuations in the HELOC market and housing values; our ability to attract and
retain borrowers, partners, and loan purchasers and to drive adoption of Figure-branded and
Partner-branded channels including Figure Connect; loan performance and default rates and
the effect of credit performance on access to and pricing of warehouse facilities, whole-loan
sales, and securitizations; changes in interest rates and U.S. monetary policy that impact
originations, funding costs, and investor demand; legal and regulatory risks affecting lending
and mortgage-related activities and the evolving framework for digital assets, including potential
changes in the characterization or regulation of certain digital assets and related products;
dependence on key third-party providers including cloud, custodial, valuation, and data vendors
and risks from outages or service disruptions; technology failures, cybersecurity incidents, or
other operational disruptions; protection and enforcement of intellectual property; compliance
with licensing, consumer protection, privacy, data security, and sanctions/AML laws, and shifting
enforcement priorities at the federal and state levels; our ability to remediate previously
identified material weaknesses and meet our public company reporting and internal control
obligations; competition; macroeconomic and geopolitical conditions; our dual-class structure
and concentrated voting control and related impacts on corporate governance; equity market
volatility affecting our Class A common stock; and the other risks described in “Risk Factors” in
our Annual Report on Form 10-K for the period ended December 31, 2025, filed with the SEC
on March 16, 2026, and in our other filings with the SEC.

You should read this press release and the documents we reference in it with the understanding
that actual future results may differ materially from our expectations. We qualify all forward-
looking statements in this press release by these cautionary statements. Except as required by
law, we undertake no obligation to publicly update or revise any forward-looking statements
contained herein, whether as a result of new information, future events, changed circumstances,
or otherwise.