Market Overview

WMIH Board of Directors Approves 1-for-12 Reverse Stock Split

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WMIH Corp. (NASDAQ:WMIH) ("WMIH"), a leading mortgage loan originator
and servicer, today announced that its Board of Directors (the "Board")
has approved a proposal to effect a reverse stock split of its common
stock on a 1-for-12 basis. The proposal is subject to stockholder
approval to adopt an amendment to WMIH's Amended and Restated
Certificate of Incorporation (the "Proposed Amendment").

"Following the merger of WMIH with Nationstar Mortgage, the board and
management have focused on exploring initiatives to better reflect the
strategic position of the combined company," said Jay Bray, Chairman and
Chief Executive Officer of WMIH. "We believe this proposed change will
enhance the appeal of our common stock to the financial community,
including institutional investors and the general investing public."

WMIH expects to hold a special meeting of stockholders in October to
obtain stockholder approval of the Proposed Amendment, which would
effect the reverse stock split, proposed at a ratio of 1-for-12, reduce
the total authorized shares of WMIH's common stock from 3,500,000,000 to
300,000,000 and increase the par value of each share of WMIH common
stock from $0.00001 per share to $0.01 per share.

If the reverse stock split is effected, no fractional shares will be
issued, and stockholders who otherwise would be entitled to receive a
fractional share in connection with the reverse stock split will receive
a cash payment in lieu of such fractional share. Computershare Trust
Company, N.A. will act as the exchange agent for the reverse stock split.

WMIH plans to file a preliminary proxy statement regarding the special
meeting with the U.S. Securities and Exchange Commission (the "SEC"),
which will include important information regarding the special meeting.
WMIH intends to announce the date of the special meeting in a future
press release.

About WMIH Corp.

WMIH Corp.'s (NASDAQ:WMIH), formerly known as Washington Mutual, Inc.,
operations consist primarily of Nationstar Mortgage Holdings Inc.
("Nationstar"), which provides quality servicing, origination and
transaction-based services related principally to single-family
residences throughout the United States. Nationstar is a recognized
leader in the mortgage industry with more than two decades of
experience, and with its flagship brand, Mr. Cooper®, is one of the
largest mortgage servicers in the country. A subsidiary of WMIH also
operates a legacy reinsurance business in runoff mode. Additional
information regarding WMIH may be found at www.wmih-corp.com.

IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT

This communication may be deemed to be solicitation material in
connection with the proposal to be submitted to WMIH's stockholders at a
special meeting seeking approval to effect a reverse stock split, a
reduction in the number of authorized shares of its common stock and an
increase in the par value of its common stock (collectively, the
"Reverse Split Proposal"). In connection with the Reverse Split
Proposal, WMIH intends to file a preliminary proxy statement on Schedule
14A with the SEC. Any definitive proxy statement will also be sent to
WMIH stockholders seeking any required stockholder approval. Before
making any voting decision, investors and security holders of WMIH are
urged to carefully read the entire proxy statement when it becomes
available, and any other relevant documents filed with the SEC, as well
as any amendments or supplements to these documents, because they will
contain important information about the Reverse Split Proposal. The
documents filed by WMIH with the SEC may be obtained free of charge at
the SEC's website at www.sec.gov.
In addition, the documents filed by WMIH may be obtained free of charge
from WMIH at www.wmih-corp.com.
Alternatively, these documents, when available, can be obtained free of
charge from WMIH upon written request to WMIH Corp., 8950 Cypress Waters
Blvd, Dallas, TX 75019, Attention: Corporate Secretary, or by calling
(469) 549-2000.

WMIH and certain of their directors and executive officers may be deemed
to be participants in the solicitation of proxies from WMIH stockholders
in favor of the approval of Reverse Split Proposal. Information
regarding WMIH's directors and executive officers is contained in WMIH's
Annual Report on Form 10-K for the year ended December 31, 2017, its
Quarterly Report on Form 10-Q for the quarterly periods ended March 31,
2018 and June 30, 2018, its Current Report on Form 8-K dated July 31,
2018 and its Proxy Statement on Schedule 14A, dated May 31, 2018, which
are filed with the SEC. Additional information regarding the interests
of those participants and other persons who may be deemed participants
in the transaction may be obtained by reading the proxy statement and
other relevant documents filed with the SEC when they become available.
Free copies of these documents may be obtained as described in the
preceding paragraph.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
including, but not limited to, WMIH's expectations or predictions of
future financial or business performance or conditions. All statements
other than statements of historical or current fact included in this
press release that address activities, events, conditions or
developments that we expect, believe or anticipate will or may occur in
the future are forward-looking statements. Forward-looking statements
give our current expectations and projections relating to our financial
condition, results of operations, plans, objectives, future performance
and business and these statements are not guarantees of future
performance. Forward-looking statements may include the words
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," "strategy," "future," "opportunity," "may," "should," "will,"
"would," "will be," "will continue," "will likely result," and similar
expressions. Such forward-looking statements involve risks and
uncertainties that may cause actual events, results or performance to
differ materially from those indicated by such statements. Certain of
these risks are identified and discussed in documents WMIH has filed or
will file from time to time with the SEC. These risk factors will be
important to consider in determining future results and should be
reviewed in their entirety. These forward-looking statements are
expressed in good faith, and WMIH believes there is a reasonable basis
for them. However, there can be no assurance that the events, results or
trends identified in these forward-looking statements will occur or be
achieved. Forward-looking statements speak only as of the date they are
made, and WMIH is not under any obligation, and expressly disclaims any
obligation, to update, alter or otherwise revise any forward-looking
statement, except as required by law. Readers should carefully review
the statements set forth in the reports that WMIH has filed or will file
from time to time with the SEC.

In addition to factors previously disclosed in WMIH's reports filed with
the SEC and those identified elsewhere in this press release, the
following factors, among others, could cause actual results to differ
materially from forward-looking statements or historical performance:
the possibility that stockholder approval for the amendment to effect
the reverse stock split, the authorized share reduction and the increase
in par value will not be obtained; the possibility that the reverse
stock split, the authorized share reduction and the increase in par
value may not have its intended effects; and the possibility that
factors unrelated to the reverse stock split, the authorized share
reduction and the increase in par value may impact the per share trading
price of WMIH's common stock.

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