The Company issued the following statement:

Two 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’s growth. Mr. Garg initially accepted that decision and willingly stepped down but has seemingly come to regret his acquiescence.

Mr. 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.

The Company calls on Mr. Garg to end his revenge campaign.

Mr. 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—even including the substantial voting power associated with his own super-voting Class B shares.

Mr. Garg’s 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 – and failing to execute.

Meanwhile, Mr. Garg’s reprisal campaign has real consequences. He has recklessly revealed Better’s confidential information and, in doing so, created unnecessary risk for the Company’s plans, business relationships and key strategic initiatives.

The record under Mr. Garg’s 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 "conversion," which is a form of theft) and several of the country’s largest financial institutions sued Mr. Garg for "flagrant self-dealing."

Most importantly, the duly elected Board carefully considered Mr. Garg’s 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.

If 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—and recognize the campaign’s futility. It is time for Better to move forward with new leadership and for Mr. Garg to accept the judgment of the independent directors.

Shareholders do not need to take any action at this time.