Earnings Presentation FOURTH QUARTER 2025 Forward-looking statements When used in this presentation or other written or oral communications, statements that are not historical in nature, including those containing words such as "will," "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "could," "would," "may," the negative of these words or similar expressions, are intended to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of ...

Core Viewpoint - New York Mortgage Trust, Inc. has acquired the remaining 50% ownership interest in Constructive Loans, LLC, enhancing its strategy to diversify and scale recurring earnings through a leading operating platform [1][2]. Group 1: Acquisition Details - The acquisition is an all-cash transaction completed through a wholly owned subsidiary of the Company, marking a significant milestone in its growth strategy [1]. - This acquisition builds on the Company's initial strategic investment in Constructive made in 2021, reflecting confidence in Constructive's growth potential and value to the residential credit market [2]. Group 2: Constructive Loans Performance - Constructive has originated over $1.7 billion in business purpose loans over the last twelve months ending June 30, 2025, demonstrating solid profitability and performance since its founding in 2017 [3]. - Constructive will continue to operate as an independent subsidiary with its experienced leadership team remaining in place [3]. Group 3: Management Insights - The CEO of the Company expressed excitement about the partnership with Constructive, emphasizing that the acquisition will diversify the Company's recurring income and expand its presence in residential credit markets [4]. - The President of the Company highlighted Constructive's ability to maintain solid loan performance while expanding origination volume, positioning it well to meet the financing needs of single-family investors [4]. Group 4: Company Background - New York Mortgage Trust, Inc. is an internally managed real estate investment trust focused on acquiring, investing in, financing, and managing primarily mortgage-related residential assets [5]. - Constructive Loans, LLC specializes in rental and transitional loans for real estate investors and operates in 48 states and D.C., with a workforce of 165 employees [6].

Financial Performance - Redwood Trust's Q1 2025 total economic return was +13%[11] - The GAAP book value per share was $839 in Q1 2025[11] - The non-GAAP EAD common dividend per share was $018 in both Q4 2024 and Q1 2025[11] - GAAP segment net income for Sequoia was $258 million with a segment GAAP ROE of 28%[20] - GAAP segment net income for CoreVest was $13 million with a segment Non-GAAP EAD ROE of 20%[20] - GAAP Segment net income for Redwood Investments was $229 million[20] Business Segments - Sequoia's lock volume reached $40 billion, a 73% QoQ increase and a 125% YoY increase[20] - Aspire locked $111 million of loans after launching expanded loan products in January 2025[20] - CoreVest funded $482 million in loans, a 4% decrease QoQ but a 48% increase YoY[20] Capital Allocation and Investments - Approximately $100 million of capital was deployed into accretive Retained Operating Investments with target returns of 15% to 20%[20] - Redwood Investments represented 72% of Q1 2025 average allocated capital, totaling $15 billion[17]