RE/MAX reports Total Leverage Ratio of 7.0:1 as of Sept 30, 2023, restricting dividends and buybacks

RE/MAX Holdings, Inc.

TLR of 7.0:1 based on consolidated EBITDA of $49.1M for trailing twelve months.
Under credit agreement, TLR above 3.50:1 triggers restricted payments cap at greater of $50M or 50% of EBITDA ($24.6M).
Fifty percent of consolidated EBITDA for prior four quarters is $24.6M, limiting shareholder distributions.

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