Forward Looking Statements
This communication only speaks at the date hereof and contains, and
related discussions may contain, “forward- looking statements”
within the meaning of U.S. federal securities laws. These
statements include descriptions regarding the intent, belief,
estimates, assumptions or current expectations of Aurora, Better or
their respective officers with respect to the consolidated results
of operations and financial condition, future events and plans of
Aurora and Better. These forward-looking statements may be
identified by a reference to a future period or by the use of
forward-looking terminology. Forward-looking statements are
typically identified by words such as “expect”, “believe”,
“foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”,
“plan”, “target” and “project” or conditional verbs such as “will”,
“may”, “should”, “could” or “would” or the negative of these terms,
although not all forward-looking statements contain these words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Forward-looking statements
are not historical facts, and are based upon management’s current
expectations, beliefs, estimates and projections, and various
assumptions, many of which are inherently uncertain and beyond
Aurora’s and Better’s control. Such expectations, beliefs,
estimates and projections are expressed in good faith, and
management believes there is a reasonable basis for them. However,
there can be no assurance that management’s expectations, beliefs,
estimates and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. For example, there can be no assurance
that the SEC will declare Aurora’s registration statement
effective, that Aurora shareholders will vote to approve the
transaction or that the Business Combination will close, or that
Better will be able to identify and hire individuals for the roles
that it seeks to fill, nor can there be assurance that the steps
Better expects to take to improve its workplace culture and
organization will have their desired result. Any management or
other changes could be disruptive to Better’s business.
Important factors that could cause actual results to differ
materially from those suggested by the forward-looking statements
include, but are not limited to, Better’s performance,
capabilities, strategy, and outlook; Better’s rapid growth and
subsequent contraction and its ability to manage its growth
effectively and achieve and maintain profitability in the future;
the demand for Better’s solutions and products and services,
including the size of Better’s addressable market, market share,
and market trends; Better’s ability to operate under and maintain
Better’s business model; Better’s ability to develop and protect
its brand; the effect of workforce reductions and associated
negative media coverage on Better’s ability to maintain and
establish third-party relationships (including with business
partners, warehouse lenders and investors), recruit and retain
employees, management and directors and otherwise achieve its
business goals; Better’s ability to maintain morale among its
workforce; Better’s ability to achieve its operational and
financial targets; Better’s ability to set and achieve its business
goals and objectives in the context of recent negative press and
changes to its organizational structure in response; Better’s
estimates regarding expenses, future revenue, capital requirements
and Better’s need for additional financing; the degree of business
and financial risk associated with certain of Better’s loans; the
high volatility in, or any inaccuracies in the estimates of, the
value of Better’s assets; any changes in macro-economic conditions
and in U.S. residential real estate market conditions, including
changes in prevailing interest rates or monetary policies and the
effects of the ongoing COVID-19 pandemic; the impact of
elevated interest rates and inflation on Better’s business
including on the volume of consumers refinancing existing loans and
the corresponding shift in Better’s product mix, Better’s ability
to produce loans, liquidity and employees; Better’s competitive
position; Better’s ability to improve and expand its information
technology and financial infrastructure, security and compliance
requirements and operating and administrative systems; Better’s
future investments in its technology and operations; Better’s
intellectual property position, including its ability to maintain,
protect and enhance Better’s intellectual property; Better’s
ability in general, and its CEO’s ability in particular, to
establish and maintain a larger, more experienced, executive team
in transitioning to public markets; Better’s ability to obtain
additional capital and maintain cash flow or obtain adequate
financing or financing on terms satisfactory to us; the effects of
Better’s existing and future