Claros Mortgage Trust, Inc. Announces 2026 Annual Meeting of Stockholders Contacts Claros Mortgage Trust, Inc. Announces 2026 Annual Meeting of Stockholders Share NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (the "Company†or "CMTG†) today announced that it will hold its 2026 Annual Meeting of Stockholders virtually on June 3, 2026, beginning at 1:00 p.m. ET. Stockholders can attend the virtual annual meeting via the internet at www.virtualshareholdermeeting.com/CMTG2026. Stockholder ...

Investor Presentation Claros Mortgage Trust, Inc. (CMTG) March 2026 The properties above are not representative of all transactions. Fourth Quarter 2025 Highlights | |  | GAAP net loss of $219.2 million, or $1.56 per share; distributable loss of $101.7 million, or $0.71 per share; and distributable earnings prior | | --- | --- | --- | | | | to realized gains and losses of $2.9 million, or $0.02 per share 1 | | Financial |  | Provision for CECL reserves of $211.7 million, or $1.48 per share, for the quarte ...

Core Insights - CMTG made significant progress in 2025, exceeding its resolution target of $2 billion by achieving $2.5 billion in total resolutions, including resolving 11 watch list loans totaling $1.3 billion in UPB [1][13] - The company has focused on enhancing liquidity and deleveraging its portfolio, reducing corporate debt significantly [5][24] - CMTG's held-for-loan portfolio decreased to $3.7 billion by the end of 2025, down from $4.3 billion at the end of Q3 2025 and $6.1 billion at the end of 2024 [10] Financial Performance - CMTG reported a GAAP net loss of $1.56 per share and a distributable loss of $0.71 per share for 2025 [9] - Distributable earnings prior to realized gains and losses were $0.02 per share [10] - The company recorded a provision for current expected credit losses (CECL) of $212 million in Q4 2025, primarily due to downgrades and charge-offs [18] Portfolio Management - The company has been actively resolving watch list loans and reducing exposure to underperforming asset types, including a significant reduction in office and land exposure [10][12] - CMTG executed a sale of a $30 million Boston land loan and resolved an $88 million New York City watch list land loan through foreclosure [11][12] - The company anticipates a gradual recovery in the real estate market, with improvements in transaction volume and investor confidence expected over time [7][8] Debt Management - CMTG retired its Term Loan B, which had a balance of $718 million, and replaced it with a new $500 million senior secured loan from HPS, extending the maturity to 2030 [6][23] - The net debt to equity ratio improved from 2.4x at the end of 2024 to 1.9x at the end of 2025 [24] - The company has increased its liquidity to $153 million, a $51 million increase compared to the previous year [24] Market Outlook - The company remains optimistic about the macroeconomic backdrop, despite acknowledging ongoing uncertainties in the financial markets [6][8] - CMTG plans to focus on asset management and execution in 2026, with the goal of evaluating new lending opportunities in the following years [8][49] - The company is seeing a constructive environment for commercial real estate, with increased demand for industrial space and investments in domestic manufacturing [7][8]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported a GAAP net loss of $1.56 per share and a distributable loss of $0.71 per share, with distributable earnings prior to realized gains and losses at $0.02 per share [10] - The held for investment loan portfolio decreased to $3.7 billion at December 31, down from $4.3 billion at September 30 and $6.1 billion at year-end 2024 [10][11] - The total CECL reserve on loans receivable held for investment increased from $308 million (6.8% of UPB) at September 30 to $443 million (10.9% of UPB) at year-end [20] Business Line Data and Key Metrics Changes - Office exposure decreased from $859 million to $589 million, and land exposure decreased from $489 million to $187 million [11] - The company resolved 11 watch list loans with an aggregate UPB of $1.3 billion, exceeding the $2 billion resolution target for 2025 by achieving $2.5 billion in total resolutions [4][15] Market Data and Key Metrics Changes - The company observed encouraging indicators in property market fundamentals, including a reduction in new supply, tightening credit spreads, and improving financing costs for new originations [8] - Increased demand for industrial space and significant investments in areas such as artificial intelligence and domestic manufacturing were noted, which are expected to support job growth and incremental demand for real estate over time [8] Company Strategy and Development Direction - The company aims to continue resolving watch list loans, deleveraging the balance sheet, and reducing capital costs over time, with a focus on asset management and decisive execution in 2026 [7][9] - The goal is to position the company to evaluate new lending opportunities towards the end of 2026 and lay the groundwork for portfolio growth in subsequent years [9] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic but cautious about the macroeconomic backdrop, anticipating a gradual improvement in the real estate market rather than an overnight recovery [7] - The company is focused on cleaning up its book to make it more transparent and easier to understand, which is expected to help the market evaluate the business properly [28] Other Important Information - The company retired the Term Loan B, which had a balance of $718 million, and replaced it with a new $500 million senior secured loan from HPS, extending the maturity of corporate debt to 2030 [5][24] - The company generated significant liquidity, with $153 million in liquidity reported, representing a $51 million increase compared to the prior year-end [25] Q&A Session Summary Question: Opportunities to create shareholder value outside of resolving the portfolio - Management emphasized the need to clean up the book for better market evaluation before considering other opportunities [28] Question: Expectations for net interest income (NII) in Q1 2026 - Management indicated that NII is likely to continue to compress as loans are resolved and the portfolio transitions [30] Question: Percentage of reserves that could translate into losses over the next 12 months - Management stated that they believe they are appropriately reserved, but new information could change expectations [32][33] Question: Liquidity levels in 2026 - Management expressed confidence in liquidity levels, which are above minimum requirements, and indicated plans for capital allocation options [45] Question: Changes in expectations for the pace of sales from the REO portfolio - Management noted a more constructive environment for resolving assets but emphasized the need for a balanced approach [48] Question: NOI within the REO portfolio - Management described a mixed performance in NOI across REO assets, with some generating positive NOI and others being more challenged [54]

Financial Data and Key Metrics Changes - For the fourth quarter of 2025, the company reported a GAAP net loss of $1.56 per share and a distributable loss of $0.71 per share, with distributable earnings prior to realized gains and losses at $0.02 per share [10] - The held for investment loan portfolio decreased to $3.7 billion at December 31, 2025, down from $4.3 billion at September 30, 2025, and $6.1 billion at year-end 2024 [10][11] - The total CECL reserve on loans receivable held for investment increased from $308 million, or 6.8% of UPB at September 30, to $443 million, or 10.9% of UPB at year-end [20] Business Line Data and Key Metrics Changes - Office exposure decreased from $859 million to $589 million, and land exposure decreased from $489 million to $187 million [11] - The company resolved 11 watch list loans, representing an aggregate UPB of $1.3 billion, exceeding the $2 billion resolution target for 2025 by achieving $2.5 billion in total resolutions [4][15] Market Data and Key Metrics Changes - The company observed encouraging indicators in the property market, including a reduction in new supply, tightening credit spreads, and improving financing costs for new originations [8] - Increased demand for industrial space and significant investments in areas such as artificial intelligence and domestic manufacturing were noted, which are expected to support job growth and incremental demand for real estate over time [8] Company Strategy and Development Direction - The company aims to continue resolving watch list loans, deleveraging the balance sheet, and reducing capital costs over time, with a focus on asset management and decisive execution in 2026 [7][9] - The goal is to position the company to evaluate new lending opportunities towards the end of 2026 and lay the groundwork for portfolio growth in subsequent years [9] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic but cautious about the macroeconomic backdrop, anticipating a gradual improvement in the real estate market rather than an overnight recovery [7] - The company is focused on cleaning up its book to create a more transparent business, which is essential for proper market evaluation [28] Other Important Information - The company retired the Term Loan B, which had a balance of $718 million, and replaced it with a new $500 million senior secured loan from HPS, extending the maturity of corporate debt to 2030 [5][24] - The company generated significant liquidity, with $153 million in liquidity reported, representing a $51 million increase compared to the prior year-end [25] Q&A Session Summary Question: Opportunities to create shareholder value outside of resolving the portfolio - Management emphasized the need to clean up the book for better market evaluation before considering other opportunities [28] Question: Expectations for net interest income (NII) in Q1 2026 - Management indicated that NII is likely to remain lower in the first and second quarters due to ongoing loan resolutions and portfolio transitions [30] Question: Percentage of reserves that could translate into losses over the next 12 months - Management stated that they believe they are appropriately reserved, with ongoing resolutions expected to accelerate [32][33] Question: Liquidity levels in 2026 - Management expressed confidence in liquidity levels, which are above minimum requirements, and indicated plans for capital allocation options [45] Question: Changes in expectations for the pace of sales from the REO portfolio - Management noted a more constructive environment for resolving assets but emphasized the need for a balanced approach [48] Question: Individual NOIs within the REO portfolio - Management described a mixed performance in NOI across REO assets, with some generating positive NOI and others being more challenged [54] Question: CapEx expectations for REO properties - Management indicated that CapEx would not be a meaningful amount, depending on hold periods and the acceleration of dispositions [57] Question: Financing of watch list loans with the new term loan - Management clarified that the new term loan is more of a corporate debt facility and not specifically for financing watch list loans [58]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported a GAAP net loss of $1.56 per share and a distributable loss of $0.71 per share, with distributable earnings prior to realized gains and losses at $0.02 per share [10] - The held for investment loan portfolio decreased to $3.7 billion at December 31, down from $4.3 billion at September 30 and $6.1 billion at year-end 2024 [10] - The total CECL reserve on loans receivable held for investment increased from $308 million, or 6.8% of UPB at September 30, to $443 million, or 10.9% of UPB at year-end [19] Business Line Data and Key Metrics Changes - Office exposure decreased from $859 million to $589 million, and land exposure decreased from $489 million to $187 million [11] - The company resolved 11 watch list loans, representing an aggregate UPB of $1.3 billion, exceeding the $2 billion resolution target for 2025 by achieving $2.5 billion in total resolutions [4][14] Market Data and Key Metrics Changes - The company observed encouraging indicators in the property market, including a reduction in new supply, tightening credit spreads, and improving financing costs for new originations [7] - Increased demand for industrial space and significant investments in areas such as artificial intelligence and domestic manufacturing were noted as positive trends for the real estate market [8] Company Strategy and Development Direction - The company aims to position itself to evaluate new lending opportunities towards the end of 2026 while focusing on asset management and resolving watch list loans [9] - The financing agreement with HPS extends the maturity of corporate debt to 2030, providing flexibility to execute the business plan [6][22] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic but cautious about the macroeconomic backdrop, anticipating a gradual improvement in the real estate market rather than an overnight recovery [6] - The company is focused on cleaning up its portfolio to enhance transparency and facilitate better market evaluation [27] Other Important Information - The company retired the Term Loan B, which had a balance of $718 million, and replaced it with a new $500 million senior secured loan from HPS [5][22] - The company generated significant liquidity, increasing its liquidity position to $153 million, despite significant deleveraging [24] Q&A Session Summary Question: Opportunities to create shareholder value outside of resolving the portfolio - Management emphasized the need to clean up the book for better market evaluation before exploring other value creation opportunities [27] Question: Expectations for net interest income (NII) in Q1 2026 - Management indicated that NII is likely to remain lower in the first and second quarters due to ongoing portfolio transitions and resolutions [29][30] Question: Percentage of reserves that could translate into losses over the next 12 months - Management stated that they believe they are appropriately reserved based on past resolutions and current market conditions, but acknowledged the dynamic nature of the environment [32][33] Question: Liquidity levels in 2026 - Management expressed confidence in their liquidity position, indicating a significant cushion over minimum requirements and plans for further deleveraging [45] Question: Changes in expectations for the pace of sales from the REO portfolio - Management noted a more constructive environment for resolving assets but cautioned that transaction volumes are still lower than anticipated [48]

February 18, 2026 The properties above are not representative of all transactions. The information provided herein is as of December 31, 2025, unless otherwise noted. Fourth Quarter 2025 Earnings Supplement Claros Mortgage Trust, Inc. (CMTG) Fourth Quarter 2025 Highlights | |  | GAAP net loss of $219.2 million, or $1.56 per share; distributable loss of $101.7 million, or $0.71 per share; and distributable earnings prior | | --- | --- | --- | | | | to realized gains and losses of $2.9 million, or $0.02 per ...

Core Viewpoint - Claros Mortgage Trust, Inc. reported significant financial losses for the quarter and year ended December 31, 2025, indicating challenges in its operational performance [1] Financial Results - The company reported a GAAP net loss of $219.2 million for the quarter and $489.1 million for the year, translating to losses of $1.56 per share and $3.49 per share, respectively [1] - Distributable Loss, a non-GAAP financial measure, was reported at $101.7 million for the quarter and $269.0 million for the year, equating to $0.71 per share and $1.88 per share [1]

Financial Performance - For Q4 2025, Claros Mortgage Trust, Inc. reported a GAAP net loss of $219.2 million, or $1.56 per share, and a full-year net loss of $489.1 million, or $3.49 per share[1] - Distributable Loss for Q4 2025 was $101.7 million, or $0.71 per share, and for the full year, it was $269.0 million, or $1.88 per share[1] Loan Portfolio and Reserves - The company resolved five loans totaling $483.9 million of UPB in Q4 2025, including two full repayments of $216.2 million[2] - As of December 31, 2025, the loan portfolio was valued at $3.7 billion with a weighted average yield of 6.2%[2] - CECL reserves stood at $443.1 million, or $3.09 per share, representing approximately 10.9% of UPB[2] - Watchlist loans decreased to $1.5 billion, reflecting a 45% net decline from the prior year-end[9] Liquidity and Financing - Total liquidity at year-end was $185 million, including $173 million in cash[2] - Net financings outstanding decreased by $1.7 billion during the year, including $580 million of deleveraging payments[2] Asset Sales - The company executed sales of signage and remaining office floors for a gross sales price of $24.1 million[2] Book Value - The book value per share was reported at $10.69[2]

Financial Capacity and Debt - As of December 31, 2025, the company had a total capacity of $4.2 billion under repurchase agreements and term participation facilities, with $2.2 billion outstanding[47]. - The company had an unpaid principal balance of $235.0 million related to its real estate owned hotel portfolio and a secured term loan with an unpaid principal balance of $556.2 million[49]. - The net debt-to-equity ratio was 1.9x and the Total Leverage Ratio was 2.5x as of December 31, 2025, with expectations for the Total Leverage Ratio to range from 2.0x to 3.0x going forward[51]. - The company had $830.0 million of non-consolidated senior interests as of December 31, 2025, which are not reflected on the balance sheet[48]. - As of December 31, 2025, the company has not received any margin calls under its repurchase agreements, indicating stable financing conditions[487]. Investment Strategy and Risk Management - The company’s investment strategy emphasizes prudent risk management, primarily originating senior loans with conservative loan-to-value ratios to mitigate credit losses[482]. - The asset management team rigorously monitors investments, focusing on both quantitative and qualitative analyses to manage risks effectively[55]. - The company conducts comprehensive credit analysis and rigorous monitoring of borrowers to manage risks associated with loan repayments and tenant rent payments[491]. - Prepayment risk is managed by structuring loans with spread maintenance and minimum income levels to protect against early repayments[493]. Interest Rate and Market Risks - The company’s interest rate risk is influenced by the U.S. Federal Reserve's actions, with benchmark interest rates increasing by 5.25% by the end of 2023, impacting interest expenses and borrower debt servicing capabilities[480]. - The company expects that rising interest rates will generally increase net interest income, while declining rates may decrease it[481]. - Elevated interest rates may lead to an increase in borrowers requesting loan extensions, potentially impacting the company's liquidity and operational results[494]. - Real estate market values are subject to volatility due to various factors, including interest rates and economic conditions, which could lead to losses for the company[498]. Competition and Capital Raising - The company faces competition from various financial entities, which may limit its ability to originate or acquire attractive risk-adjusted investments[57]. - The company is exposed to risks related to equity and debt capital markets, which may impact its ability to raise capital through common stock or debt instruments[486]. - The company finances its operations through various means, including senior interests and secured term loans, but may face challenges due to market volatility and regulatory changes[488]. Counterparty and Currency Risks - Counterparty risks exist due to reliance on financial institutions for cash and financing, which the company mitigates by working with high credit-quality institutions[489]. - The company currently holds no foreign currency-denominated assets or liabilities, but may do so in the future, exposing it to currency risk[496].