Core Insights - AGNC Investment Corp. reported a fourth-quarter 2025 net spread and dollar roll income per common share of 35 cents, missing the Zacks Consensus Estimate of 37 cents and declining 5.4% from the previous year [1][8] - The company experienced a decline in average asset yield and reduced net interest spread, alongside a higher weighted average cost of funds, which negatively impacted results [2][11] - Despite these challenges, tangible net book value per share increased by 5.6% year-over-year, indicating a positive trend in portfolio value [6][8] Financial Performance - Adjusted net interest and dollar roll income available to common stockholders reached $457 million, up 12.8% from the year-ago quarter [2] - Comprehensive income per common share for the fourth quarter was 89 cents, compared to a comprehensive loss of 11 cents per share in the same quarter last year [3] - Net interest income (NII) was reported at $206 million, missing the Zacks Consensus Estimate by 36.3%, while for the full year 2025, NII totaled $675 million, also below estimates [4] Cost and Yield Analysis - The average asset yield on AGNC's portfolio was 4.87% in Q4 2025, down from 5.02% in Q4 2024 [4] - The combined weighted average cost of funds increased to 3.10%, up from 2.89% in the previous year [5] - The average net interest spread decreased to 1.81%, down from 1.91% year-over-year [5] Portfolio and Investment Metrics - As of December 31, 2025, AGNC's investment portfolio totaled $94.8 billion, including $81.1 billion in Agency mortgage-backed securities [7] - The average actual constant prepayment rate for the investment portfolio was 9.7%, slightly up from 9.6% in the previous year [6] - The economic return on tangible common equity was 11.6%, a significant improvement from an economic loss of 0.6% in the year-ago quarter [6] Dividend Information - AGNC announced a dividend of 36 cents per share for the fourth quarter, with total dividends declared since its IPO amounting to $15.5 billion or $50.08 per share [10]

© 2026 AGNC Investment Corp. All Rights Reserved. 2025 STOCKHOLDER PRESENTATION Q4 JANUARY 27, 2026 THE PREMIER AGENCY RESIDENTIAL MORTGAGE REIT IMPORTANT NOTICES Safe harbor statement under the private securities litigation reform act of 1995 This presentation contains statements that, to the extent they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). All such forward-looking state ...

Core Insights - AGNC Investment Corp. reported strong financial results for Q4 2025, with a comprehensive income of $0.89 per common share, driven by a net income of $0.83 per common share and a tangible net book value increase of 7.2% from the previous quarter [5][6][9]. Financial Highlights - The company declared dividends of $0.36 per common share for Q4 2025, contributing to an economic return on tangible common equity of 11.6% for the quarter [5][6]. - The total investment portfolio reached $94.8 billion as of December 31, 2025, primarily composed of $81.1 billion in Agency mortgage-backed securities (MBS) [5][10]. - The tangible net book value per common share increased to $8.88, up $0.60 from $8.28 as of September 30, 2025 [5][9]. Annual Performance - For the full year 2025, AGNC achieved a 22.7% economic return on tangible common equity, with a total stock return of 34.8%, significantly outperforming the S&P 500 Index [6][7]. - The average projected constant prepayment rate (CPR) for the portfolio was 9.6% as of December 31, 2025, reflecting an increase from 8.6% in the previous quarter [13]. Market Conditions - The fourth quarter saw Agency MBS as the best-performing domestic fixed income asset class, with an annual total return of 8.6%, the highest since 2002, attributed to favorable monetary policy and reduced volatility [7][8]. - The macroeconomic environment remains supportive for Agency MBS, with expectations of continued lower interest rates and potential further tightening of mortgage spreads [8]. Capital Markets Activity - AGNC issued 34.9 million shares of common equity through At-the-Market offerings, generating net proceeds of $356 million [5][6]. - The company also issued $345 million of 8.75% Series H Fixed-Rate preferred equity during the year [5]. Leverage and Liquidity - As of December 31, 2025, AGNC maintained a leverage ratio of 7.2x tangible net book value "at risk," with unencumbered cash and Agency MBS totaling $7.6 billion, representing 64% of tangible equity [5][22].

Core Insights - AGNC Investment Corp. reported a third-quarter 2025 net spread and dollar roll income per common share of 35 cents, missing the Zacks Consensus Estimate of 38 cents and declining from 43 cents in the same quarter last year [1][9] - The comprehensive income per common share increased to 78 cents from 64 cents year-over-year, despite a decline in tangible net book value per share and net interest spread [2][9] - The average asset yield on the portfolio rose to 4.95% from 4.73% year-over-year, indicating a positive trend in asset performance [3][9] Financial Performance - Net interest income was reported at $148 million, with net interest expenses of $64 million, missing the Zacks Consensus Estimate by 45.2% [3] - The average net interest spread decreased to 1.78%, down from 2.21% in the previous year [4] - As of September 30, 2025, tangible net book value per share was $8.28, reflecting a 6.1% decline year-over-year [5][8] Investment Portfolio - The total investment portfolio amounted to $90.8 billion, comprising $76.3 billion in Agency mortgage-backed securities and $13.8 billion in net forward purchases/sales of Agency MBS [6][8] - The average actual constant prepayment rate for the investment portfolio was 8.6%, down from 13.2% in the prior year [4] Balance Sheet and Cash Position - Cash and cash equivalents totaled $450 million, representing an 11.2% decrease from the previous quarter [7] Dividend Information - AGNC declared a dividend of 36 cents per share for the third quarter, with total common stock dividends amounting to $15.1 billion since its IPO in May 2008 [8]

Core Insights - AGNC Investment Corp. reported a second-quarter 2025 net spread and dollar roll income per common share of 38 cents, missing the Zacks Consensus Estimate of 42 cents and declining from 53 cents in the same quarter last year [2][10] - The company experienced a comprehensive loss per common share of 13 cents, remaining relatively flat compared to the previous year, impacted by a decline in tangible net book value per share and net interest spread, although average asset yield increased [3][12] - The average asset yield on AGNC's portfolio rose to 4.87% in Q2 2025, up from 4.69% in Q2 2024, while the combined weighted average cost of funds increased to 2.86% from 2% year-over-year [4][10] Financial Performance - Net interest income was reported at $162 million, missing the Zacks Consensus Estimate by 36.2%, with net interest expenses of $3 million in the prior-year quarter [4] - The average net interest spread, excluding estimated "catch-up" premium amortization benefits, decreased to 2.01% from 2.69% in the year-ago quarter [5] - As of June 30, 2025, tangible net book value per share was $7.81, down 7% year-over-year, with an economic return on tangible common equity of negative 1% compared to negative 0.9% in the previous year [6][10] Investment Portfolio - AGNC's investment portfolio totaled $82.3 billion, consisting of $73.3 billion in Agency mortgage-backed securities, $8.3 billion in net forward purchases/sales of Agency MBS, and $0.7 billion in CRT and non-Agency securities [7] - The average actual constant prepayment rate for the investment portfolio was 7.8%, down from 9.2% in the year-ago quarter [5] Cash Position - As of June 30, 2025, AGNC's cash and cash equivalents amounted to $656 million, reflecting a 44.2% decrease from the prior quarter [8] Dividend Information - AGNC declared a dividend of 36 cents per share for the second quarter, with total dividends of $14.7 billion or $49.36 per share since its IPO in May 2008 through Q2 2025 [11]