UNITED STATES OF AMERICA 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, 2024 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 1-13759 REDWOOD TRUST, INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 68-032 ...

Redwood Trust, Inc. (NYSE:RWT) Q1 2024 Earnings Conference Call April 30, 2024 5:00 PM ET Company Participants Kaitlyn Mauritz - Senior Vice President, Investor Relations Chris Abate - Chief Executive Officer Dash Robinson - President Brooke Carillo - Chief Financial Officer Conference Call Participants Rick Shane - JPMorgan Bose George - KBW Doug Harter - UBS Crispin Love - Piper Sandler Don Fandetti - Wells Fargo Stephen Laws - Raymond James Eric Hagen - BTIG Steve Delaney - Citizens JMP Kyle Joseph - Jef ...

R E D W O O D T R U S T . C O M This presentation contains forward-looking statements, including statements regarding our 2024 forward outlook, current illustrative returns related to capital deployment opportunities, estimates of upside and potential earnings in our investment portfolio from embedded discounts to par value on securities, statements regarding our joint ventures with Oaktree and CPP Investments, including the estimated levered purchase capacity of our joint venture with CPP Investments of up ...

Exhibit 99.1 REDWOOD TRUST REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS MILL VALLEY, CA – Redwood Trust, Inc. (NYSE:RWT; "Redwood", the "Company", "we" or "our"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended March 31, 2024. Key Q1 2024 Financial Results and Metrics Operational Business Highlights Residential Consumer Mortgage Banking Residential Investor Mortgage Banking 1 • GAAP book value per common share was $8.78 at March ...

UNITED STATES OF AMERICA 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 1-13759 REDWOOD TRUST, INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 68-0329422 ...

Financial Data and Key Metrics Changes - Net interest income (NII) was essentially flat this quarter, with a modest improvement in bridge NII offset by lower portfolio NII from securities sold and higher interest expense on new financing activities [10] - Earnings available for distribution (EAD) decreased to $7.1 million or $0.05 per basic common share for the fourth quarter, down from $12.6 million or $0.10 per share in the third quarter, primarily due to lower income from mortgage banking activities [11][12] - GAAP net income for the fourth quarter was $19.3 million or $0.15 per common share, compared to negative $32.6 million or negative $0.29 in the third quarter, resulting in a fourth quarter GAAP return on equity of 7.3% [142] Business Line Data and Key Metrics Changes - Residential Mortgage Banking experienced a modest quarter-over-quarter reduction in volume driven largely by seasonality, but maintained strategic momentum [3] - The investor loan products attracted retention from Capital Partners, with $111 million of loans distributed through whole loan sales and sales to a joint venture [6] - The multifamily bridge portfolio remains a key focus area, with borrowers managing to stabilize projects and inject fresh equity [140] Market Data and Key Metrics Changes - Over 55% of the quarter's total lock volume came from banks, up from 38% in the third quarter, indicating a shift in market dynamics [106] - The company estimates its $2.8 billion of locks in the second half of 2023 represent approximately 5% of total jumbo market share, compared to a historical range of 2% to 3% [89] - The multifamily bridge portfolio is under pressure due to higher rates, but there is optimism for recovery as sponsors work towards stabilization [140][141] Company Strategy and Development Direction - The company aims to continue opportunistic deployment of capital into products with attractive return profiles that complement its mortgage banking businesses [15] - A strategic shift towards joint ventures with leading private credit institutions is underway, enhancing liquidity and pricing power [98][99] - The company is focused on home equity investments, launching a traditional second lien mortgage product to address the largest untapped market in housing finance [103][132] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic positioning given excess capital and the potential for market recovery as rates stabilize [19][54] - The company is optimistic about the demand for real estate and the potential for fresh capital to support recovery in its loan portfolio [38][39] - Management acknowledged the challenges in the current market but emphasized the importance of being selective and strategic in capital deployment [31][56] Other Important Information - The company achieved a 5% to 10% expense reduction in 2023 and aims for further efficiency improvements in 2024 [80][117] - The company has approximately $318 million of unencumbered assets that can serve as a potential source of capital for growth or debt repurchase [116][66] - The company completed five securitizations in the fourth quarter, enhancing its capital structure and liquidity [32][139] Q&A Session Summary Question: What is the outlook for multifamily delinquency trends? - Management acknowledged the uptick in multifamily delinquencies but expressed optimism about the underlying demand for real estate and the potential for recovery as projects stabilize [23][39] Question: Can you discuss the dynamics of the origination side and the residential consumer mortgage banking business? - Management noted that while the origination market is challenging, they feel good about their trajectory and are taking market share, supported by strong demand for their products [150][121] Question: How does the company view its capital position and deployment strategy? - Management highlighted that they have $285 million of excess capital and are well-positioned to be aggressive in capital deployment as market conditions improve [19][57]

Redwood is a Full Spectrum Residential Housing Finance Platform | --- | --- | --- | --- | --- | --- | |----------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------|------------------------------------------------------------------------ ...

Exhibit 99.1 REDWOOD TRUST REPORTS FOURTH QUARTER 2023 FINANCIAL RESULTS MILL VALLEY, CA – Redwood Trust, Inc. (NYSE:RWT; "Redwood", the "Company", "we" or "our"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended December 31, 2023. Key Q4 2023 Financial Results and Metrics Operational Business Highlights Residential Investor Mortgage Banking (4) 1 • GAAP book value per common share was $8.64 at December 31, 2023, a 1.5% decrease f ...

UNITED STATES OF AMERICA 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, 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 1-13759 REDWOOD TRUST, INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 68 ...

UNITED STATES OF AMERICA 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 1-13759 REDWOOD TRUST, INC. (Exact Name of Registrant as Specified in Its Charter) Maryland 68-0329 ...