ANNALY * First Quarter 2024 Investor Presentation April 24, 2024 This presentation is issued by Annaly Capital Management, Inc. ("Annaly"), an internally-managed, publicly traded company that has elected to be taxed as a real estate investment trust for federal income tax purposes, and is being furnished in connection with Annaly's First Quarter 2024 earnings release. This presentation is provided for investors in Annaly for informational purposes only and is not an offer to sell, or a solicitation of an of ...

ANNALY CAPITAL MANAGEMENT, INC. REPORTS 1st QUARTER 2024 RESULTS NEW YORK—April 24, 2024—Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter ended March 31, 2024. Financial Highlights Business Highlights Investment and Strategy Financing and Capital "We were pleased to generate a 4.8% economic return in the first quarter as each of our three investment strategies contributed to our book value appreciation, as well as generated stable ...

Although Annaly Capital and UDR are both REITs, only one is appropriate for dividend investors looking for a reliable income stream.If you are looking for dividend income, you might find Annaly Capital Management's (NLY 1.69%) huge 14.2% dividend yield attractive. But you'd be better off buying UDR's (UDR 0.70%) much smaller 4.6% yield. Here's what you need to know before you end up adding a serial dividend cutter to your portfolio and pass up a historically high yield from a reliable dividend grower.Annaly ...

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, 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 NUMBER: 1-13447 ANNALY CAPITAL MANAGEMENT INC (Exact Name of Registrant as Specified in its Charter) Maryland 22-3479661 ...

Annaly Capital Management, Inc. (NYSE:NLY) Q4 2023 Earnings Conference Call February 8, 2024 9:00 AM ET Company Participants Sean Kensil - Director and Investor Relations David L. Finkelstein - Chief Executive Officer and Chief Investment Officer Serena Wolfe - Chief Financial Officer Ken Adler - Head of Mortgage Servicing Rights Mike Fania - Deputy Chief Investment Officer, Head of Residential Credit V.S. Srinivasan - Head of Agency Conference Call Participants Bose George - KBW Crispin Love - Piper Sandle ...

Book value per common share of $19.44 Hedge ratio decreased from 115% to 106% as the hedge portfolio was reduced in light of shorter portfolio duration Source: Company filings. Financial data as of December 31, 2023. Detailed endnotes and a glossary of defined terms are included at the end of this presentation. The Macroeconomic State of Affairs 9 11 Agile platform that can deploy capital across both the residential whole loan and Non-Agency securities markets | --- | --- | --- | --- | --- | --- | --- | --- ...

Economic Environment - The 10-year U.S. Treasury rate increased from 3.84% on June 30, 2023, to 4.57% on September 30, 2023, contributing to significant interest rate volatility [193]. - The economic return for the quarter was negative 8.8%, primarily due to rising term premiums and reduced demand for Agency MBS [183]. - The unemployment rate ended the quarter at 3.8%, slightly higher than the historically low level of 3.4% earlier in the year [190]. - Inflation, as measured by the PCE, rose to 3.4% year-over-year in September, up from 3.2% in June [191]. - The Federal Reserve raised the Federal Funds Target Rate by 25 basis points to the 5.25% - 5.50% range during the third quarter [192]. Financial Performance - Net income for the three months ended September 30, 2023 was ($569.1) million, or ($1.21) per share, compared to ($274.0) million, or ($0.70) per share for the same period in 2022 [204]. - Net interest income for the three months ended September 30, 2023 was ($45.3) million, a decrease from $278.0 million for the same period in 2022 [204]. - For the nine months ended September 30, 2023, net income was ($1.2) billion, or ($2.73) per share, compared to $2.6 billion, or $6.46 per share for the same period in 2022 [205]. - Net interest income for the nine months ended September 30, 2023 was ($57.8) million, down from $1.3 billion for the same period in 2022 [205]. - Earnings available for distribution for Q3 2023 were $362.0 million, or $0.66 per average common share, down from $480.7 million, or $1.06 per average common share in Q3 2022, representing a decrease of 24.6% in earnings per share [206]. - For the nine months ended September 30, 2023, earnings available for distribution were $1.2 billion, or $2.18 per average common share, compared to $1.4 billion, or $3.37 per average common share for the same period in 2022, reflecting a decline of 35.3% in earnings per share [207]. Portfolio and Asset Management - The Residential Credit portfolio market value increased to $5.3 billion, with $1.5 billion in expanded credit loans settled during the quarter [186]. - The MSR portfolio grew by $90 million in the third quarter, totaling $2.3 billion in market value and over $150 billion in unpaid principal balance [188]. - The investment portfolio at period-end was $85.34 billion, an increase from $79.31 billion year-over-year [201]. - Average total assets for the three months ended September 30, 2023 were $89.49 billion, compared to $79.52 billion for the same period in 2022 [201]. - The company’s correspondent channel expansion allowed for more than double the second quarter whole loan production while maintaining conservative lending standards [186]. Interest Rate and Economic Leverage - The economic leverage ratio as of September 30, 2023, was 6.4:1, down from 7.1:1 as of September 30, 2022, indicating a reduction in leverage [227]. - The company’s GAAP leverage ratio was 7.1:1 as of September 30, 2023, compared to 6.0:1 at December 31, 2022 [303]. - The economic capital ratio at period-end was 13.1%, an increase from 11.8% for the same period in 2022 [201]. - The debt-to-net equity ratio was 7.1:1 as of September 30, 2023, indicating a stable leverage position [276]. Interest Income and Expenses - Interest income (excluding PAA) for the three months ended September 30, 2023, was $995,423,000, up from $633,074,000 for the same period in 2022, marking an increase of approximately 57.3% [231]. - Economic interest expense increased by $392.8 million for the three months ended September 30, 2023, primarily due to higher interest expense on repurchase agreements [247]. - The average economic cost of interest-bearing liabilities was 3.28% for the three months ended September 30, 2023, compared to 1.54% for the same period in 2022 [244]. Risk Management - The company actively monitors its REIT status and compliance with applicable laws and regulations to maintain its tax status as a REIT [349]. - Credit risk is managed through established policies and ongoing surveillance of investments, particularly in non-agency mortgage-backed securities [336]. - The company utilizes interest rate swaps linked to SOFR to manage interest rate risk effectively [333]. - The company manages operational risk through various tools including policies on business continuity, cybersecurity, and vendor management [344]. Market Conditions and Valuation - The market for mortgage servicing rights (MSR) is less active, requiring significant judgment in their valuation using discounted cash flow models [360]. - The company accounts for residential mortgage loans and securities at fair value, with valuations sensitive to changes in interest rates and prepayment speeds [356][359]. - The total estimated fair value of agency securities increased to $66,591,536 thousand as of September 30, 2023, compared to $62,274,895 thousand at December 31, 2022, representing a growth of approximately 5.3% [282]. Shareholder Actions - The company authorized a share repurchase program of up to $1.5 billion, which is set to expire on December 31, 2024, but no shares were purchased under this program during the three and nine months ended September 30, 2023 [296]. - Under the at-the-market sales program, the company issued 0.9 million and 26.2 million shares for proceeds of $17.8 million and $580.5 million, respectively, during the three and nine months ended September 30, 2023 [298].

Annaly Capital Management, Inc. (NYSE:NLY) Q3 2023 Earnings Conference Call October 26, 2023 9:00 AM ET Company Participants Sean Kensil - Vice President, Annaly Capital Management David Finkelstein - Chief Executive Officer, Chief Investment Officer & Director Serena Wolfe - Chief Financial Officer Ken Adler - Head, Mortgage Servicing Rights & Portfolio Analytics Michael Fania - Deputy Chief Investment Officer & Head, Residential Credit V.S Srinivasan - Head of Agency Conference Call Participants Bose Geor ...

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 NUMBER: 1-13447 ANNALY CAPITAL MANAGEMENT INC (Exact Name of Registrant as Specified in its Charter) Maryland 22-347 ...

Annaly Capital Management, Inc. (NYSE:NLY) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET Company Participants Sean Kensil - VP, Annaly Capital Management David Finkelstein - CEO, CIO & Director Serena Wolfe - CFO Michael Fania - Deputy CIO & Head, Residential Credit Ken Adler - Head, Mortgage Servicing Rights & Portfolio Analytics Conference Call Participants Bose George - KBW Crispin Love - Piper Sandler & Co. Eric Hagen - BTIG Vilas Abraham - UBS Trevor Cranston - JMP Securities Douglas Harter ...