Lument Finance Trust, Inc. (NYSE:LFT) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET Company Participants James Flynn - CEO James Briggs - CFO James Henson - President Zachary Halpern - Senior Director, Portfolio Management Conference Call Participants Crispin Love - Piper Sandler Stephen Laws - Raymond James Matthew Erdner - Jones Trading Christopher Nolan - Ladenburg Thalmann Operator Good morning and thank you for joining the Lument Finance Trust Second Quarter 2023 Earnings Call. Today's cal ...

L U M E N T FINANCE TRUST Note: (1) Includes $1.7 million of costs relating to a previously contemplated CRE CLO transaction. (2) See Appendix for definition of Distributable Earnings and reconciliation to GAAP. • The Company experienced $72.0 million of loan payoffs during the quarter. 1 2 3 4 5 Weighted Avg Risk Rating • The Company does not currently utilize repurchase or warehouse facility financing and therefore is not subject to margin calls on any of its assets from repo or warehouse lenders. | --- | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ____________ Commission File No. 001-35845 LUMENT FINANCE TRUST, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

Lument Finance Trust, Inc. (NYSE:LFT) Q1 2023 Earnings Conference Call May 12, 2023 8:30 AM ET Company Participants Charles Duddy - Investor Relations James Flynn - Chief Executive Officer James Briggs - Chief Financial Officer Conference Call Participants Crispin Love - Piper Sandler Steve DeLaney - JMP Securities Stephen Laws - Raymond James Matthew Erdner - JonesTrading Howard Blum - UBS Financial Services Christopher Nolan - Ladenburg Thalmann Operator Good morning and thank you for joining the Lument F ...

Lument Finance Trust Q1 2023 Earnings Supplemental May 2023 Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the current views of Lument Finance Trust, Inc. (NYSE: LFT) ("LFT," the "Company," "we," "our," or "us") with respect to, among other things, the Company's operations and financial performance. You can identify these forward-loo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ____________ Commission File No. 001-35845 LUMENT FINANCE TRUST, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

Lument Finance Trust, Inc. (NYSE:LFT) Q4 2022 Earnings Conference Call March 24, 2023 8:30 AM ET Company Participants Charles Duddy - Investor Relations James Flynn - Chief Executive Officer Michael Larsen - President James Briggs - Chief Financial Officer Conference Call Participants Stephen Laws - Raymond James Jason Stewart - JonesTrading Operator Good morning and thank you for joining the Lument Finance Trust Fourth Quarter 2022 Earnings Call. Today’s call is being recorded and will be made available vi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to____ Commission file number: 001-35845 LUMENT FINANCE TRUST, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Financial Data and Key Metrics Changes - For Q3 2022, the company reported net income to common stockholders of approximately $315,000 or $0.01 per share, with distributable earnings of approximately $1.7 million or $0.03 per share, down from $2.2 million or $0.04 per share in the prior quarter [24][25] - Net interest income decreased to $5.5 million from $6.4 million in Q2 2022, while interest income increased from $11.2 million in Q2 to $14.5 million in Q3 [25][26] - Total expenses were $2.7 million during Q3, consistent with the prior quarter's total of $2.8 million [33] Business Line Data and Key Metrics Changes - The multifamily investment portfolio performed well, although an unrealized loss reserve was booked against a single office loan [12][28] - The company experienced $35 million in loan payoffs during the quarter, generating $291,000 in exit fees, a significant decrease from the previous quarter [27][32] - The total loan portfolio outstanding principal balance was $1.04 billion, representing a 1% increase quarter-over-quarter and a 30% increase year-over-year [42] Market Data and Key Metrics Changes - The multifamily market is experiencing a transition due to inflationary pressures, geopolitical risks, and higher interest rates, leading to a decline in CRE investment activity [9][10] - The average asset appraised LTV on new loans has decreased, and new transactions are being quoted at spreads well above 4%, compared to the low to mid-3% spreads a year ago [13][14] - The one-month term SOFR rate increased from 3.04% to 3.8%, with expectations of it reaching over 5% by spring [45] Company Strategy and Development Direction - The company remains focused on deploying capital into commercial real estate debt investments, particularly in multifamily assets, while exploring alternative financing options [22][18] - The company plans to execute a loan financing transaction to leverage newly originated loans, despite the current challenges in the capital markets [16][17] - The management believes that the credit quality of the middle-market workforce housing asset class remains attractive, supported by favorable supply-demand dynamics [11] Management's Comments on Operating Environment and Future Outlook - Management expects earnings to be pressured until capital markets normalize and attractive loan financing transactions can be executed [21] - The company anticipates continued rent growth for multifamily assets, albeit at a slower pace than in previous years [10] - Management expressed confidence in the performance of the multifamily portfolio despite broader economic uncertainties [58] Other Important Information - The company has not yet adopted the CECL accounting standard and is scheduled to implement it on January 1, 2023 [34] - The company is prepared to execute a CLO quickly if market conditions improve [17] Q&A Session Summary Question: Asset sensitivity and prepay fees - Management noted that the slowdown in loan payoffs has reduced exit fees, impacting earnings negatively [52] Question: Risk ratings and credit quality - Management indicated that the change in risk ratings reflects broader market conditions, with inflationary pressures affecting expenses [59] Question: CLO financing and advance rates - Management confirmed that there are no changes to advance rates in the existing CLO [68] Question: Share buyback possibilities - Management discussed the potential for share buybacks but emphasized the focus on increasing shareholder base and trading value [70] Question: Preferred share buyback - Management has not considered preferred share buybacks due to current cost of capital [73] Question: Lag in pricing of loan source liabilities - Management explained that while liabilities change immediately with rate changes, the asset side adjusts more slowly due to repayment rates [75] Question: Terminal Fed funds rate expectations - Management anticipates the Fed funds rate to reach around 5% in the short term, with potential for slight decreases thereafter [76] Question: Dividend coverage outlook - Management expressed confidence in the ability to cover dividends with higher SOFR rates positively impacting earnings [85] Question: Senior housing asset class - Management sees strong opportunities in the seniors housing space, indicating a solid outlook for that asset class [90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ____________ Commission File No. 001-35845 https://reportify- 1252068037.cos.ap- beijing.myqcloud.com/media/productio LUMENT FINANCE TRUST, INC. (Exact n ...