CoreLogic Increases Full Year 2020 and 2021 Guidance

CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today increased its financial guidance for the full year 2020 and 2021. The Company also continues to pursue its previously announced strategic review process including a sale of the Company, for which final bids are expected in early 2021.

“As our process progresses, CoreLogic continues to drive high performance across our solutions and the pathway to deliver our financial commitments going forward is clear and evident. Our consistent operating and financial performance is creating significant value for our shareholders. CoreLogic is on track to deliver record operating and financial performance this year and set the stage for additional value creation,” said Frank Martell, President and Chief Executive Officer.

Full-Year 2020 Guidance Update – Continuing Operations
The Company expects increased full-year 2020 revenues and adjusted EBITDA from continuing operations driven by strength in property tax processing, insurance & spatial and international as well as continued strong housing market fundamentals. Revenue and Adjusted EBITDA results are expected to exceed the high end of previously issued guidance ranges with operating leverage and cost productivity expected to drive adjusted EBITDA margin above 38%, an increase of approximately 800 basis points compared to full year 2019. CoreLogic expects at least 6% organic revenue growth for the 12 months ended December 31, 2020.

1 Definitions of adjusted EBITDA and adjusted EPS are included in the Use of Non-GAAP Financial Measures section found at the end of the release.

Full year 2020 financial guidance reflects revenues from continuing operations and excludes CoreLogic’s Reseller operations. The Company previously announced the planned sale of these non-strategic assets.

2021 Guidance Update – Continuing Operations
Based on updated 2020 financial guidance, as well as forecasted continued strong housing market fundamentals, the Company is providing the following updated 2021 forecast:

Key assumptions pertaining to this forecast are as follows:

• U.S. mortgage market volumes approximately 5% lower than 2020 projected levels
• Organic revenue growth consistent with 2020 levels

About CoreLogic
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy, and protect their homes. For more information, please visit www.corelogic.com.

Safe Harbor/Forward Looking Statements
Certain statements made in this press release are forward-looking statements within the meaning of the federal securities laws, including but not limited to those statements related to expected 2020 and 2021 performance and financial results, the outcome and timing of the company’s sale process, future value creation, and forecasted mortgage market volumes. Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include the risks and uncertainties set forth in Part I, Item 1A of our most recent Annual Report on Form 10-K and Part II, Item 1A of our most recent Quarterly Report on Form 10-Q, as such risk factors may be amended, supplemented, or superseded from time to time by other reports we file with the Securities and Exchange Commission. These risks and uncertainties include but are not limited to: any potential impact resulting from COVID-19; our ability to protect our information systems against data corruption, cyber-based attacks or network security breaches; limitations on our ability to repurchase or shares; changes in prices at which we are able to repurchase our shares; limitations on access to or increase in prices for data from external sources, including government and public record sources; changes in applicable government legislation, regulations and the level of regulatory scrutiny affecting our customers or us, including with respect to consumer financial services and the use of public records and consumer data; systems interruptions that may impair the delivery of our products and services; difficult conditions in the mortgage and consumer lending industries and the economy generally; uncertainties regarding the outcome of any discussions with third parties indicating an interest in acquiring CoreLogic; risks related to the outsourcing of services and international operations; our ability to realize the anticipated benefits of certain acquisitions and/or divestitures and the timing thereof; and impairments in our goodwill or other intangible assets. CoreLogic can offer no assurances that it will enter into any transaction in the future or, if entered into, what the terms of any such transaction would be. The forward-looking statements speak only as of the date they are made. CoreLogic does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Use of Non-GAAP (Generally Accepted Accounting Principles) Financial Measures
This press release contains certain non-GAAP financial measures, including adjusted EBITDA and adjusted EPS, which are provided only as supplemental information. Investors should consider these non-GAAP financial measures only in conjunction with their most directly comparable GAAP financial measures. These non- GAAP measures are not in accordance with, or a substitute for, U.S. GAAP. CoreLogic believes that its presentation of these non-GAAP measures provides useful supplemental information to investors and management regarding CoreLogic’s financial condition and results of operations. Adjusted EBITDA is defined as net income from continuing operations adjusted for interest, taxes, depreciation and amortization, share-based compensation, non-operating gains/losses, and other adjustments. Adjusted EPS is defined as diluted income from continuing operations, net of tax per share, adjusted for share-based compensation, amortization of acquisition-related intangibles, non-operating gains/losses, and other adjustments; and assumes an effective tax rate of 26% for 2020 and 2021. Other firms may calculate non-GAAP measures differently than CoreLogic, which limits comparability between companies. Because the non-GAAP measures for future periods included herein are forward-looking, CoreLogic is not able to provide a reconciliation, without unreasonable efforts, of such forward-looking guidance to the most directly comparable GAAP financial measure due to the unknown effect, timing, and potential significance of special charges or gains that are material to the comparable GAAP financial measure.

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