INVESTOR PRESENTATION

NOVEMBER 2015
FORWARD-LOOKING STATEMENTS

This presentation contains "forward-looking" statements relating to RealPage, Inc.'s expected, possible or assumed future results; the results of its
investments in Asset Optimization; its focus on driving margin expansion; and the results of its capital allocation strategies. These forward-looking statements
are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all
statements that are not historical facts and may be identified by terms such as "expects," "believes," "plans," or similar expressions and the negatives of those
terms. Those forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The
Company may be required to revise its results upon finalizing its review of quarterly results, which could cause or contribute to such differences. Additional
factors that could cause or contribute to such differences include, but are not limited to, the following: (a) the possibility that general economic conditions,
including leasing velocity or uncertainty cause information technology spending, particularly in the rental housing industry, to be reduced or purchasing
decisions to be delayed; (b) an increase in insurance claims; (c) an increase in customer cancellations; (d) the inability to increase sales to existing customers
and to attract new customers; (e) RealPage, Inc.'s failure to integrate acquired businesses and any future acquisitions successfully; (f) the timing and success
of new product introductions by RealPage, Inc. or its competitors; (g) changes in RealPage, Inc.'s pricing policies or those of its competitors; (h) legal or
regulatory proceedings; (i) the inability to achieve revenue growth or to enable margin expansion; and (j) such other risks and uncertainties described more
fully in documents filed with or furnished to the Securities and Exchange Commission ("SEC") by RealPage Inc., including its Quarterly Report on Form 10-Q
previously filed with the SEC on August 7, 2015 and its Annual Report on Form 10-K previously filed with the SEC on March 2, 2015. All information provided
in this release is as of the date hereof and RealPage Inc. undertakes no duty to update this information except as required by law.

In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These historical non-GAAP measures are in addition to,
not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP
measures is included in the appendix to this presentation and is available on the Investor Relations portion of the website www.realpage.com. This
presentation should also be used in conjunction with the Companys IR Fact Sheet and explanation of Non-GAAP Financial Measures, both previously
furnished to the SEC by Form 8-K filed on November 3, 2015.

RealPage is a registered trademark of RealPage, Inc. This presentation also contains additional trademarks and service marks of ours and of other companies. We do not intend our
use or display of other companies trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies.

2
 MISSION AND INVESTMENT THESIS

RealPage mission is providing a complete set of

solutions to rental housing industry while acting as
a unifying force throughout a disparate ecosystem
of players

We are:

A market leader in underpenetrated,

underserved, massive rental housing
software market

Investing in pillars of our platform SaaS

infrastructure, product innovation, and sales
force drive long-term growth and
competitiveness

Driving efficiencies to enable Adjusted

EBITDA margin expansion over long-term

Leveraging data, leadership role, scale,

differentiated product platform to drive
financial performance and shareholder value 3
REALPAGE ECOSYSTEM

20 MILLION*
3 MILLION+ TODAY

4.6 MILLION* 80 THOUSAND*

8 THOUSAND+ TODAY 10 THOUSAND+ TODAY

100 MILLION*
* Total Addressable Market 30 MILLION+ TODAY
PLATFORM OF INTEGRATED SOLUTIONS TO
ADDRESS NEEDS OF ECOSYSTEM

POINT SOLUTIONS INTEGRATED SaaS SOLUTIONS

5
OWNER AND MANAGERS BENEFIT BECAUSE

1. INCREASE REVENUE
3% to 5% revenue lift

2. MINIMIZING RISK
Reduce credit risk
Lower property risk

3. REDUCING EXPENSES
5% to 10% expense reduction

Based on typical apartment results 6

PROSPECTS EXPECT

1. THE BEST RESEARCH EXPERIENCE

Websites

2. THE BEST SERVICE EXPERIENCE

Contact Center

3. THE BEST LEASING EXPERIENCE

Leasing Tablet / Online Leasing

7
RESIDENTS BENEFIT

1. CONVENIENCE
Pay online 24x7
Move-in online
Live Online

2. SERVICE
Service requests 24x7
Packages
Coupons

3. ENGAGEMENT
Staff communication
Resident social interest

8
VENDORS BENEFIT

1. ACCESS
Credentialed
Networked

2. EFFICIENCY
Electronic catalogs
Electronic work orders
Electronic invoices

3. GROWTH
More customers
Increased spend
9
THE TOP CHOICE FOR INDUSTRY LEADERS AND
OVER 11,000 OWNERS AND MANAGERS

95% NMHC TOP 50 (1)

(1) Using one or more RP solutions as of September 30, 2015. 10

MARKET OPPORTUNITY
RENTAL HOUSING INDUSTRY IS MASSIVE

Source: NMHC, NAHB, U.S. Census Bureau, MPF Research, and Federal Reserve.
TOTAL ADDRESSABLE MARKET ROOM TO GROW

UNITS RPU TAM

46M $247

5X 6X $11B
28X
10.4M $44

$467 M(1)
RP UNITS TOTAL ADDRESSABLE RP RPU TOTAL ADDRESSABLE RealPage
ACV
MARKET (UNITS) MARKET (UNITS)

Source: Company Estimates, U.S. Census Bureau, New Residential Construction, MPF Research, NCREIF, and Moodys / RCA.
(1) As of the third quarter ended September 30, 2015. 13
 CONSTRUCTION CATCHING UP,
BUT DEMAND FAR OUTSTRIPS SUPPLY

Source: MPF Research

14
RENTAL HOUSING MARKET IS ROBUST

Full occupancy since 2011

Market believed to be near peak
New supply at unprecedented levels
Economy forming new jobs
Millennials becoming more mobile
Relaxed mortgage standards

Weaker market creates more

demand for some RealPage
products

15
FINANCIALS
REALPAGE OVERVIEW

Leading vertical SaaS provider to rental

housing industry

Consistent revenue growth and profitability

88%+ subscription ~ highly predictable
Compelling cash flow characteristics
Early innings of massive $11B TAM

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 17
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
ACV

ACV (Annual Customer Value) is proxy for bookings ~

driven by Units & RPU

Consistent ACV growth CAGR of 18% (2010-2014)

Cross-sell (RPU) major driver of growth
Top 100 ACV customers
Average $62 RPU
23% average ACV
growth since IPO

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 18
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
LAND AND EXPAND

Consistent growth across all client segments

20,000+ CAGR of 27% (2009 2014)
5,000 20,000 CAGR of 20% (2009 2014)
Below 5,000 CAGR of 21% (2009 2014)

ANNUAL CLIENT VALUE

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 19
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
UNITS

Largest unit penetration (as % of total units):

OneSite
Screening
Customer using 1 or more solutions
Strong unit growth CAGR of 12% (2010-2014)

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 20
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
RPU

Solid RPU growth CAGR of 6% (2010-2014)

Unit growth dilutes RPU
Top 50 RPU customers
Average $161 RPU
Range of $122 to $285 RPU
19% average RPU
growth since IPO

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 21
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
 ON DEMAND REVENUE TYPE
(FY14)

(5%)
13%

12%
15%

22
* As of the fourth quarter and year ended December 31, 2014. Please read in conjunction with our explanation of Non-GAAP Financial Measures, posted on the Investor Relations
section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on November 3, 2015.
 ON DEMAND REVENUE TYPE
(FY14)

ASSET LEASING &

OPTIMIZATION MARKETING
FY14 FY14

RESIDENT PROPERTY
SERVICES MANAGEMENT
FY14 FY14

23
* As of the fourth quarter and year ended December 31, 2014. Please read in conjunction with our explanation of Non-GAAP Financial Measures, posted on the Investor Relations
section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on November 3, 2015.
ON DEMAND REVENUE TYPE
(Q315)

16% 1%

13%
34%

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 24
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
ON DEMAND REVENUE TYPE
(Q315)

ASSET LEASING &

OPTIMIZATION MARKETING
Q315 Q315

RESIDENT PROPERTY
SERVICES MANAGEMENT
Q315 Q315

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 25
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
 ON DEMAND REVENUE TYPE

Consistent subscription growth CAGR of 17% (2012-

2014)

Subscription grew 18% in Q315

Subscription as % of total on demand revenue
81% (2012)
82% (2013)
88% (2014)
Transaction headwinds
primarily related to Leasing
and Marketing

* As of the third quarter ended September 30, 2015. Please read in conjunction with our explanation of Non-GAAP Financial 26
Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
GROWTH DRIVERS

(1) As of the third quarter ending September 30, 2015. (2) Run-Rate as of September 30, 2015. 27
PRODUCT PLATFORM
REALPAGE INTEGRATED PLATFORM

29
SPEND LESS. LEASE MORE.

Lead Generation GOAL: Generate half as

Lead Capture many leads with 3 times
better conversion
Lead Management
RESULT:
Reduced vacancy days
Increased revenue
Lower cost

30
MANAGE THE ENTIRE PROPERTY LIFE CYCLE

Accounting LESS IS MORE

Lease Management
GOAL:
Spend Management
Less labor intensive
Facilities Management
Document Management Less training /support
(50% turnover)
Lower spend /facilities
costs

RESULT: MORE NOI

31
CONVENIENCE IS CONTAGIOUS

Online Payments Our mission: Make

Owner pays
convenience and
service contagious
Resident pays
friends talk to friends
Contact Center
for 24x7 support
Online Renewals
Renters Insurance
Resident Billing

32
STRENGTH IN NUMBERS

We are an analytics company

based on 10 million
units, 30 million residents and
430 billion transactions
We are the LEADING
statistically relevant source of
real time data
We see supply and demand
down to the street corner
We have modeled how the
interaction of supply and
demand changes price
RESULT: 3 7% REVENUE LIFT
OVER MARKET

33
APPENDIX
RECONCILIATION GAAP TO NON GAAP REVENUE

2010 2011 2012 2013 2014 YTD 15

GAAP On Demand Revenue $ 169,678 $ 239,436 $ 306,400 $ 362,312 $ 390,622 $ 333,872

Acquisition-related and other deferred revenue

- 706 89 2,717 435 (1,612)
adjustment

NON GAAP On Demand Revenue $ 169,678 $240,142 $306,489 $365,029 $391,057 $ 332,260

On Premise Revenue 8,545 6,581 5,216 3,691 3,094 2,301

Professional and Other Revenue 10,051 11,962 10,556 11,019 10,835 10,647

TOTAL NON GAAP Revenue $ 188,274 $ 258,685 $ 322,261 $ 379,739 $ 404,986 $ 345,208

TOTAL GAAP Revenue (1) $ 188,274 $ 257,979 $ 322,172 $ 377,022 $ 404,551 $ 346,820

(1) Excludes acquisition-related and other deferred revenue adjustment.

(2) Please
read in conjunction with our explanation of Non-GAAP Financial Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
35
RECONCILIATION OF ADJUSTED EBITDA AND
FREE CASH FLOW TO NET INCOME

2010 2011 2012 2013 2014 YTD15

Net (loss) income $ 67 $ (1,231) $ 5,183 $ 20,692 $ (10,274) $ (13,118)
Acquisition-related and other deferred
- 706 89 2,717 435 (1,612)
revenue adjustment
Depreciation, asset impairment & loss on
10,371 11,539 13,539 14,411 19,288 38,970
sale of assets
Amortization of intangible assets 10,675 18,006 19,498 17,648 22,404 18,586
Interest expense, net 5,510 2,868 2,160 1,427 1,117 966
Income tax expense (benefit) 719 (210) 4,219 (210) (6,333) (7,120)

Stock-based compensation expense 7,340 22,618 18,178 29,697 37,050 30,666

Litigation-related expense -- 1,298 10,158 661 4,915 2

Acquisition-related (income) expense 621 865 (350) 3,269 1,987 (1,653)

Stock registration costs -- -- 675 -- -- --

Adjusted EBITDA $ 35,303 $ 56,459 $ 73,349 $ 90,312 $ 70,589 $ 65,687
Capital Expenditures 12,178 16,147 18,774 32,952 37,062 18,553
Free Cash Flow (1)
$ 23,125 $ 40,312 $ 54,575 $ 57,360 $ 33,527 $ 47,134

(1) Excludes acquisition-related and other deferred revenue adjustment.

(2) Please
read in conjunction with our explanation of Non-GAAP Financial Measures, posted on the Investor Relations section of www.realpage.com and previously furnished to the SEC by Form 8-K filed on
November 3, 2015.
36