\nBetter Home & Finance Holding Company (NASDAQ: BETR) (\u201cBetter\u201d or the \u201cCompany\u201d) today called upon its former Chief Executive Officer Vishal Garg to end his disruptive campaign to regain his CEO position and replace a majority of the Board of Directors (the \u201cBoard\u201d). The Company issued the following statement:<\/p>\n
\nTwo weeks ago, with Vishal Garg not participating in the decision, the Board unanimously voted to remove Mr. Garg as CEO and begin a search for a new leader to guide the next phase of the Company\u2019s growth. Mr. Garg initially accepted that decision and willingly stepped down but has seemingly come to regret his acquiescence.<\/p>\n
\nMr. Garg is now waging a costly and distracting campaign to replace the Board, reverse its decision and return himself to an executive role at the Company.<\/p>\n
\nThe Company calls on Mr. Garg to end his revenge campaign.<\/p>\n
\nMr. Garg has aggressively solicited shareholders in an effort to secure their support and has done so by misrepresenting facts and in a manner that clearly violates federal securities laws. Despite this improper and unlawful solicitation, Mr. Garg does not have the votes required to implement his boardroom coup\u2014even including the substantial voting power associated with his own super-voting Class B shares.<\/p>\n
\nMr. Garg\u2019s deluge of press releases and media appearances do reflect his longstanding pattern: he is, as always, focused on himself, making big promises and taking unnecessary risk \u2013 and failing to execute.<\/p>\n
\nMeanwhile, Mr. Garg\u2019s reprisal campaign has real consequences. He has recklessly revealed Better\u2019s confidential information and, in doing so, created unnecessary risk for the Company\u2019s plans, business relationships and key strategic initiatives.<\/p>\n
\nThe record under Mr. Garg\u2019s prior leadership is stark: since 2022, Better accumulated more than $1.5 billion in losses, while its publicly traded shares lost more than 90% of their value. Outside of Better, his record is no better. A jury once found Mr. Garg in breach of his fiduciary duties (and liable for \u201cconversion,\u201d which is a form of theft) and several of the country\u2019s largest financial institutions sued Mr. Garg for \u201cflagrant self-dealing.\u201d<\/p>\n
\nMost importantly, the duly elected Board carefully considered Mr. Garg\u2019s performance and conduct and concluded that he is unfit to be the leader for Better. No media tour or attacks on Better, its employees or its directors can change that independent judgment.<\/p>\n
\nIf Mr. Garg has even half the affection for Better that he professes, he should recognize the damage his campaign is causing the Company he founded\u2014and recognize the campaign\u2019s futility. It is time for Better to move forward with new leadership and for Mr. Garg to accept the judgment of the independent directors.<\/p>\n
\nShareholders do not need to take any action at this time.<\/p>\n
ABOUT BETTER HOME & FINANCE<\/b><\/p>\n
\nBetter Home & Finance Holding Company (NASDAQ: BETR) is the first AI-native mortgage and home equity finance platform, and first fintech to fund more than $110 billion in loan volume. Better has leveraged its industry-leading AI platform, Tinman\u00ae, to achieve its singular mission of making homeownership cheaper, faster, and easier for all Americans. Tinman\u00ae allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates, and close their loan in as little as three weeks. In addition, Betsy\u2122, the first AI loan agent built exclusively for the mortgage industry, revolutionizes the homebuying journey by answering questions, delivering approvals, comparing products, processing rate locks, and moving their loan application along to closing 24\/7\/365. Better\u2019s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage and home equity loans. Better serves customers in all 50 US states and the United Kingdom.<\/p>\n
\nFor more information, follow @betrmortgage on X and @betterdotcom on Instagram and TikTok.<\/p>\n
FORWARD-LOOKING STATEMENTS<\/b><\/p>\n
\nThis press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical fact should be considered forward-looking statements, including, without limitation, statements and expectations regarding the Company’s leadership transition. In some cases, you can identify forward-looking statements by terminology such as \u201cbelieve,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cestimate,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cexpect,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201ctarget,\u201d or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual future events to differ materially from those expressed or implied by the forward-looking statements in this communication. These risks and uncertainties include those risks discussed in the section entitled \u201cRisk Factors\u201d in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2025, as any such factors may be updated from time to time in the Company\u2019s other filings with the SEC, which is available, free of charge, at the SEC\u2019s website at www.sec.gov<\/a>. New risks and uncertainties arise from time to time, and it is impossible for Better to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Better undertakes no obligation, except as required by law, to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.<\/p>\n Important Additional Information and Where to Find It<\/b><\/p>\n \nThe Company intends to file a preliminary consent revocation statement with the U.S. Securities and Exchange Commission (the “SEC”), together with an accompanying WHITE consent revocation card, in opposition to the solicitation of written consents by Vishal Garg and the members of his group (collectively, the “Garg Group”) seeking to remove members of the Company’s Board of Directors. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE CONSENT REVOCATION STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER DOCUMENTS THE COMPANY FILES WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders will be able to obtain copies of the consent revocation statement, any amendments or supplements thereto and any other documents filed by the Company with the SEC free of charge at the SEC’s website (www.sec.gov<\/a>) and at the Company’s investor relations website (investors.better.com<\/a>).<\/p>\n Participants in the Solicitation<\/b><\/p>\n \nThe Company, members of its Board of Directors and certain of its executive officers and employees may be deemed to be \u201cparticipants\u201d (as defined in Instruction 3 to Item 4 of Schedule 14A under the Securities Exchange Act of 1934, as amended) in the solicitation of revocations of consent from the Company’s stockholders in connection with the Garg Group’s consent solicitation. Information regarding such persons and their direct or indirect interests in the Company, by security holdings or otherwise, is set forth in the Company’s definitive proxy statement for its 2026 annual meeting of stockholders, filed with the SEC on April 30, 2026 (under the headings “Ownership of Our Common Stock,” “Director Compensation” and “Executive Compensation”), in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 13, 2026, and in Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC on July 22, 2026 for each of Michael Farello (available here<\/a>) and Hugh R. Frater (available here<\/a>); May 21, 2026 for Vishal Garg (available here<\/a>); August 6, 2026 for Daniel Lewis (available here<\/a>); and July 22, 2026 for each of Arnaud Massenet (available here<\/a>), Bhaskar Menon (available here<\/a>), Prabhu Narasimhan (available here<\/a>), and Harit Talwar (available here<\/a>). To the extent any such person’s holdings of the Company’s securities have changed since the filings identified above, such changes have been or will be reflected in Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. Updated information regarding the identity of participants and their direct or indirect interests, by security holdings or otherwise, will be set forth in the consent revocation statement and other materials to be filed by the Company with the SEC. These documents may be obtained free of charge from the sources indicated above.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260817657528\/en\/<\/a><\/span><\/p>\n \nFor investor relations related inquiries, please reach out to ir@better.com<\/a>.<\/p>\n For press and media related inquiries, please reach out to comms@better.com<\/a>.<\/p>\n KEYWORDS:<\/b> New York United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Technology Construction & Property Finance Fintech Professional Services Software Asset Management Artificial Intelligence Residential Building & Real Estate<\/p>\n<\/p>\n
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