Material Event Form 8 K

Item 8.01 Other Events.

Extension of Rithm Capital Corp. Termination Rights

As previously disclosed, in May 2022, Onity Group Inc. ("Onity" or the "Company") entered into amendments to its servicing and subservicing agreements with affiliates of Rithm Capital Corp. ("Rithm") to extend their terms to December 31, 2023 and provide for subsequent, automatic one-year renewals, unless Onity provides six months' advance notice of termination (by July 1), or Rithm provides three months' advance notice of termination (by October 1), among other changes. On September 25, 2024, Onity and Rithm agreed to extend Rithm's termination rights with respect to its subservicing agreements through October 15, 2024. On October 14, 2024, Onity and Rithm agreed to further extend these termination rights through November 15, 2024. In addition, Onity and Rithm agreed to extend the current terms of the subservicing agreements to February 1, 2025. Onity and Rithm continue to discuss extending their current servicing arrangements. Onity believes that non-renewal of these agreements would not have a material adverse effect on Onity's financial condition, results of operations or its ability to service its debt obligations.

Forward-Looking Statements

The information included in this Current Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements relating to the future of Onity's servicing relationship with Rithm and the expected impact of a future termination of the Rithm servicing agreements if such termination were to occur. We cannot provide any assurances relating to the outcome of these events or whether they will occur. Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including the risks and uncertainties detailed in our reports and filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2023, and current reports and quarterly reports filed with the SEC since such date. Anyone wishing to understand Onity's business should review our SEC filings.