Reported revenues of $477 million were up 4%. Revenues were up 15% normalizing for $28 million of second quarter 2019 revenues attributable to non-core default technology units sold and the AMC transformation, which have no 2020 counterpart and a $15 million impact attributable to COVID-19

Organic revenue growth of approximately 5%, up from more than 2% for the previous quarter, fueled by broad-based market share gains, value pricing and solutions bundles

Secured two mega wins in insurance and spatial solutions including a significant strategic win of a top 5 U.S. insurance carrier for CoreLogic’s next-generation integrated insurance solution

Core Mortgage market outperformance in tax and flood zone solutions and double-digit growth in credit solutions and valuations platforms

Operating income from continuing operations of $91 million, up by $76 million

Operating leverage and productivity demonstrated by 3% reduction in operating costs on higher revenues

Net income from continuing operations of $59 million compared with prior year loss of $6 million

Diluted EPS from continuing operations of $0.73 cents; Adjusted EPS of $1.02, up 29%

Adjusted EBITDA of $158 million, up 18%

Adjusted EBITDA margin of 33%, up 400 basis points

Net operating cash provided by continuing operations for the 12 months ended June 30, 2020 was $512 million. Free cash flow (“FCF”) for the 12 months ended June 30, 2020 period totaled $393 million or 71% of adjusted EBITDA

Retired $101 million of debt outstanding; covenant debt leverage at 2.8 times

Total debt outstanding at June 30, 2020 of $1.59 billion compared with $1.69 billion at December 31, 2019; $750 million available on revolving credit facility

Repurchased 150,000 common shares and paid $18 million in dividends to shareholders

Guidance ranges reflect internal run rates of revenues and costs, benefits from market share gains, cost productivity as well as expected US mortgage market unit volumes. Guidance ranges for third quarter results follow:

Revenues of $485 to $515 million

Adjusted EBITDA of $160 to $175 million

Financial impacts attributable to COVID-19 of approximately $10 to $15 million in both revenue and adjusted EBITDA

Increased guidance reflects financial and operating outperformance from the first half of 2020 as well as higher than expected cost productivity and continued market share gains

Strategic mega wins in Insurance and Spatial solutions and core mortgage expected to benefit the second half of 2020 and more significantly 2021

Mortgage market unit volume estimates for 2020 remain unchanged from previous guidance (approximately +25% year-over-year)

Expected financial impacts attributable to COVID-19 (approximately $40 to $45 million in both revenue and adjusted EBITDA)

($ in Millions except per-share

amounts)

Previous Guidance

Updated Guidance

Revenue

Adjusted EBITDA⁽¹⁾

Adjusted EPS^{(1), (2)}

Definition of adjusted results, as well as other non-GAAP financial measures used by management, is included in the Use of Non-GAAP Financial Measures section found at the end of the release.

Adjusted EPS does not reflect the impact of the expected share repurchase of $500 million in 2020.

Approximately 60% of our 2021 assumed organic revenue growth target of 5%, or $95 million, is secured by contract wins (including four mega wins)

Flow-through benefits of 2020 financial outperformance benefits 2021 revenues and profitability

Gains from next-generation integrated insurance solution adoption and 2020 launch and national expansion of CoreLogic OneHome^TM and HomeVisit^TM solutions expected to benefit results from 2021 onward

Approximately 95% of our revenues are recurring in nature

2020 financial impacts attributable to COVID-19 are expected to largely recover in 2021

Overall U.S. mortgage market unit volumes expected to be down approximately 10% to 15% in 2021 and down 5% in 2022 with growth in purchase volume transactions offset by lower refinancing

Reseller business units include Tenant Screening and Credit and Borrower Verification Solutions with highly volume sensitive revenues aggregating approximately $340 million (trailing 12 months as of June 30, 2020)

Proforma 2020 adjusted EBITDA margins (based on mid-point of updated revenue and adjusted EBITDA guidance) increased by approximately 350 basis points to 35%

Raises share of non-mortgage revenue to approximately 45%, which reduces historical cyclicality and improves growth rates

Planned divestitures are pursuant to previously authorized Board delegation in January 2020

Advisors retained to conduct sale process commencing in third quarter

Dividend boost and share repurchase commitment reflects durable cash generative model and long-held commitment to consistent and significant capital return

50% increase in quarterly dividend from $0.22 to $0.33; additional dividend increases expected commensurate with expanding profitability

The Company expects to repurchase at least $500 million of shares in 2020, $300 million of shares in 2021 and the remaining $200 million of shares in 2022 to complete its current $1 billion authorization. The $1 billion repurchase program is expected to reduce current share count by more than 15% by 2022

Our share repurchase program is expected to be more than 10% accretive to projected 2021 Adjusted EPS

Operating revenues

Cost of services (excluding depreciation and amortization shown below)

Selling, general and administrative expenses

Depreciation and amortization

Impairment loss

Total operating expenses

Operating income

Interest expense:

Interest income

Interest expense

Total interest expense, net

Gain/(loss) on investments and other, net

Tax indemnification release

Income/(loss) from continuing operations before equity in earnings/(losses) of affiliates and income taxes

Provision/(benefit) for income taxes

Income/(loss) from continuing operations before equity in earnings/(losses) of affiliates

Equity in earnings/(losses) of affiliates, net of tax

Net income/(loss) from continuing operations

(Loss)/income from discontinued operations, net of tax

Net income/(loss)

Basic income per share:

Net income/(loss) from continuing operations

(Loss)/income from discontinued operations, net of tax

Net income/(loss)

Diluted income per share:

Net income/(loss) from continuing operations

(Loss)/income from discontinued operations, net of tax

Net income/(loss)

Weighted-average common shares outstanding:

Basic

Diluted

Assets

Current assets:

Cash and cash equivalents

Accounts receivable (less allowance for credit losses of $8,007 and $7,161 as of June 30, 2020 and December 31, 2019, respectively)

Prepaid expenses and other current assets

Total current assets

Property and equipment, net

Operating lease assets

Goodwill, net

Other intangible assets, net

Capitalized data and database costs, net

Investment in affiliates, net

Other assets

Total assets

Liabilities and Equity

Current liabilities:

Accounts payable and other accrued expenses

Accrued salaries and benefits

Contract liabilities, current

Current portion of long-term debt

Operating lease liabilities, current

Total current liabilities

Long-term debt, net of current

Contract liabilities, net of current

Deferred income tax liabilities

Operating lease liabilities, net of current

Other liabilities

Total liabilities

Stockholders’ equity:

Preferred stock, $0.00001 par value; 500 shares authorized, no shares issued or outstanding

Common stock, $0.00001 par value; 180,000 shares authorized; 79,459 and 78,972 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively

Additional paid-in capital

Retained earnings

Accumulated other comprehensive loss

Total stockholders’ equity

Total liabilities and equity

Cash flows from operating activities:

Net income/(loss)

Less: Income/(loss) from discontinued operations, net of tax

Net income/(loss) from continuing operations

Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:

Depreciation and amortization

Amortization of debt issuance costs

Amortization of operating lease assets

Impairment loss

Provision for bad debt and claim losses

Share-based compensation

Equity in (earnings)/losses of affiliates, net of taxes

Loss on early extinguishment of debt

Deferred income tax

(Gain)/loss on investments and other, net

Tax indemnification release

Change in operating assets and liabilities, net of acquisitions:

Accounts receivable

Prepaid expenses and other current assets

Accounts payable and other accrued expenses

Contract liabilities

Income taxes

Dividends received from investments in affiliates

Other assets and other liabilities

Net cash provided by operating activities—continuing operations

Net cash provided by operating activities—discontinued operations

Total cash provided by operating activities

Cash flows from investing activities:

Purchases of property and equipment

Purchases of capitalized data and other intangible assets

Cash paid for acquisitions, net of cash acquired

Purchases of investments

Cash received from sale of business-lines

Proceeds from investments and other

Net cash used in investing activities—continuing operations

Net cash provided by investing activities—discontinued operations

Total cash used in investing activities

Cash flows from financing activities:

Proceeds from long-term debt

Debt issuance costs

Repayment of long-term debt

Proceeds from issuance of shares in connection with share-based compensation

Payment of tax withholdings related to net share settlements

Shares repurchased and retired

Dividends paid

Contingent consideration payments subsequent to acquisitions

Net cash used in financing activities - continuing operations

Net cash provided by financing activities - discontinued operations

Total cash used in financing activities

Effect of exchange rate on cash, cash equivalents, and restricted cash

Net change in cash, cash equivalents, and restricted cash

Cash, cash equivalents, and restricted cash at beginning of period

Less: Change in cash, cash equivalents, and restricted cash - discontinued operations

Plus: Cash swept from discontinued operations

Cash, cash equivalents, and restricted cash at end of period

Net income/(loss) from continuing operations

Income taxes

Depreciation and amortization

Interest expense/(income), net

Share-based compensation

Non-operating losses/(gains)

Efficiency investments and other

Transaction costs

Impairment Loss

Adjusted EBITDA

Net income/(loss) from continuing operations

Income taxes

Depreciation and amortization

Interest (income)/expense, net

Share-based compensation

Non-operating losses/(gains)

Efficiency investments and other

Transaction costs

Impairment loss

Amortization of acquired intangibles included in equity in losses of affiliates

Adjusted EBITDA

Net income/(loss) from continuing operations

Share-based compensation

Non-operating (gains)/losses

Efficiency investments and other

Impairment loss

Transaction costs

Depreciation and amortization of acquired software and intangibles

Income tax effect on adjustments

Adjusted EPS

Net cash provided by operating activities - continuing operations

Purchases of property and equipment

Purchases of capitalized data and other intangible assets

Free cash flow