Adamas Trust, Inc. · NASDAQ:ADAM
Adamas Trust — Corporate Update (September 2025)
16 slides from Adamas Trust's corporate update, Sep 2, 2025
Slide 1: New York Mortgage Trust, Inc. to become Adamas Trust, Inc.
New York Mortgage Trust, Inc. ADAMAS Trust, Inc. September 2, 2025 Effective 12:01 a.m., Eastern Time on September 3, 2025, New York Mortgage Trust, Inc. will change its name to Adamas Trust, Inc.
Slide 2: Forward Looking Statements
Forward Looking Statements 02 This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are based on our beliefs, assumptions and expectations of our future performance,
Slide 3: A bold identity for a new era of growth
03 Adamas, meaning firm, unbreakable, and lasting, reflects the Company’s focus on leading with strength, resilience, and long-term vision. In a fast-changing financial world, we stand firm, combining tradition with the agility of technology. Adamas represents integrity and permanence, qualities we
Slide 4: The Rationale Behind the Rebranding
04 THE RATIONALE BEHIND THE REBRANDING Showcases our strengths: discipline, agility and resolve Aligns with our strategy to not be limited by geography Exemplifies the moves to strengthen our market position and shape a multi-dimensional future A PLATFORM Adamas represents the move towards a broader
Slide 5: Adamas Value Proposition
05 ADAMAS VALUE 2.44x 2Q 2025 EAD vs. Prior Year 1 PROPOSITION $416M Excess Liquidity Capacity With what we believe is a strong balance sheet and liquidity position, we strategically deploy capital into compelling opportunities, leveraging market-leading $2.1B* capabilities to deliver long-term stoc
Slide 6: Business Performance Update
06 Business Performance Update Core Strategy Focus • Purchases to date have accelerated progress toward our near term 50% equity target in Agency RMBS. Net Equity (%) Expanded Strategic Investments • We believe that our recent acquisition of the remaining 50% ownership interest in Constructive Loans
Slide 7: Our Next Steps
07 Our Next Steps Strength 1 We believe that our platform is built for endurance and consistent performance through every market turn. We continue to grow Earnings Available for Distribution by expanding recurring income through balance sheet growth and rotating remaining real property exposure into
Slide 8: Investor FAQ
INVESTOR FAQ 08 Our Company will continue to conduct business as a real estate investment trust (REIT). 1 The rebrand will not affect business operations. Our new website, www.AdamasREIT.com, will go live on September 3, 2025, once the 2 name change is effective. No action is required by stockholder
Slide 9: Appendix
APPENDIX GYADAMAS
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures 10 Earnings Available for Distribution Previously, we presented undepreciated earnings (loss) as a supplemental non-GAAP financial measure comparable to GAAP net income (loss) attributable to Company's common stockholders. Commencing with the quarter ended March 31, 2025,
Slide 11: Reconciliation of Earnings Available for Distribution
Non-GAAP Financial Measures 11 4 Reconciliation of Earnings Available for Distribution Dollar Amounts in Thousands (except per share data) 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 GAAP net (loss) income attributable to Company's common $ (3,486) $ 30,285 $ (41,828) $ 32,410 $ (26,028) stockholders Adjustments:
Slide 12: Adjusted Book Value Per Common Share
Non-GAAP Financial Measures 12 Adjusted Book Value Per Common Share Adjusted Book Value per common share is a supplemental non-GAAP financial measure calculated by making the following adjustments to GAAP book value: (i) exclude the Company's share of cumulative depreciation and lease intangible amo
Slide 13: Reconciliation of Adjusted Book Value Per Common Share
Non-GAAP Financial Measures 13 6 Reconciliation of Adjusted Book Value Per Common Share Dollar Amounts in Thousands (except per share data) 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 Company's stockholders' equity $ 1,381,203 $ 1,401,946 $ 1,394,720 $ 1,444,147 $ 1,431,910 Preferred stock liquidation preference
Slide 14: Glossary
Glossary 14 14 4 The following defines certain of the commonly used terms in this presentation: "Adjusted Book Value" has the meaning set forth in Appendix - "Non-GAAP Financial Measures—Adjusted Book Value Per Common Share"; "Agency RMBS" refers to RMBS representing interests in or obligations back
Slide 15: End Notes
End Notes 14 15 4 Slide 5: - Excess liquidity capacity includes available cash and additional financing available for unencumbered and underlevered assets as of June 30, 2025. Available cash as of June 30, 2025 is calculated as unrestricted cash of $160.4 million less $3.9 million of cash held by th
Slide 16: Slide 16