Lument Finance Trust, Inc. · NYSE:LFT
Lument Finance Trust — Q2 2025 Earnings Presentation
23 slides from Lument Finance Trust's earnings presentation, Aug 11, 2025
Slide 1: Lument Finance Trust Q2 2025 Earnings Supplemental
Lument Finance Trust Q2 2025 Earnings Supplemental August 2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the current views of Lument Finance Trust, Inc. (NYSE: LFT) (“LFT,” the “Com
Slide 3: Company Overview and Key Investment Highlights
Company Overview • The Company is an externally-managed real estate investment trust focused on investing in, financing and managing a portfolio of commercial real estate debt investments. • The Company is externally managed by Lument Investment Management, LLC, an affiliate of ORIX Corporation USA.
Slide 4: Q2 2025 Updates
Q2 2025 Updates • Q2 2025 GAAP net income attributable to common stockholders of $0.05 per share of common stock. • Q2 2025 Distributable Earnings(1) of $0.05 per share of common stock. Financial • On June 20, 2025, the Company declared a cash dividend for the quarter of $0.06 per share of common st
Slide 5: Q2 2025 Balance Sheet Summary
Q2 2025 Balance Sheet Summary Balance Sheet (thousands) June 30, 2025(1) Commercial mortgage loans held- for-investment (net of allowance for $905,420 credit losses) Real estate owned 23,818 Cash and cash equivalents 59,404 Restricted cash(2) 1,344 Accrued interest receivable 5,636 Other assets(3) 2
Slide 6: Q2 2025 Income Statement Summary
Q2 2025 Income Statement Summary GAAP Net Income to Three Months Distributable Earnings Three Months Summary Income Statement Ended June 30, Reconciliation Ended June 30, (thousands) 2025 (thousands) 2025 Net interest income $6,961 Net Income attributable to $2,506 common stockholders Total other in
Slide 7: Earnings and Book Value Per Share of Common Stock
Earnings and Book Value Per Share of Common Stock Distributable Earnings(1) & Book Value Per Share of Common Dividends Per Share of Common Share Stock(2) $3.50 $0.10 $0.10 $3.40 $0.08 $0.08 $0.08 $0.08 $3.29 $3.27 $0.06 $0.05 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Distributa
Slide 8: Investment Portfolio
Investment Portfolio • On June 30, 2025, the Company owned a portfolio of floating-rate CRE loans with a carrying value of $905 million. 90.6%(1) of the portfolio was invested in loans collateralized by multifamily assets. • The Company anticipates that it will continue to focus on investment opport
Slide 9: Q2 2025 Loan Activity
Q2 2025 Loan Activity • The Company experienced $3.6 million of loan Q2 Fundings by Property Type(1) fundings and $63.4 million of loan payoffs during the quarter. $3.6 Healthcare, $3.6, 100.0% Portfolio Activity(2) Q2 Payoffs by Property Type(1) $988.8 $3.6 ($63.4) $2.8 ($23.8) ($2.6) $905.4 $63.4
Slide 10: Portfolio Credit
Portfolio Credit • As of June 30, 2025, 86.6% of the Company’s portfolio was performing(1), with 63.0% of the portfolio rated “3” (Moderate Risk) or better. • Weighted average risk rating(2) of 3.5. • During the quarter, management applied a “5” risk-rating to eight loans with an aggregate principal
Slide 11: Q2 2025 Capital Structure Overview
Q2 2025 Capital Structure Overview • The Company does not currently utilize repurchase or warehouse facility financing and therefore is not subject to margin calls on any of its loan assets from repo or warehouse lenders. • Primary sources of financing include two secured financings (2021-FL1 CLO an
Slide 12: Net Interest Income Sensitivity to Shifts in Term SOFR
Net Interest Income Sensitivity to Shifts in Term SOFR • 100% floating-rate loan portfolio. • 100% of portfolio is indexed to 30-day term SOFR. Net Interest Income Per Share Floating-Rate Exposure(1) Sensitivity to Change in SOFR(4) $0.01 Floating Rate Net Exposure -$0.01 Assets(2) $924 $213 -$0.02
Slide 13: Appendix
Appendix fa] LUMENT
Slide 14: 6/30/2025 CRE Loan Portfolio Details
6/30/2025 CRE Loan Portfolio Details Closing Maturity Unpaid Principal Note Unamortized Initial Term As-Is LTV at # Loan Name Property Type City State (1) Date Date Balance Spread Discount/Premium (months) Origination 1 Loan 1 12/16/2021 1/5/2026 Multifamily Daytona Beach FL 51,375,000 3.16% 0 49 71
Slide 15: 6/30/2025 CRE Loan Portfolio Details
6/30/2025 CRE Loan Portfolio Details Closing Maturity Unpaid Principal Note Unamortized Initial Term As-Is LTV at # Loan Name Property Type City State (1) Date Date Balance Spread Discount/Premium (months) Origination 31 Loan 31 4/27/2022 5/5/2026 Multifamily Houston TX 14,171,704 3.70% 0 48 79.60%
Slide 16: Consolidated Balance Sheets
Consolidated Balance Sheets 16
Slide 17: Consolidated Statement of Income
Consolidated Statement of Income 17
Slide 18: Detailed Walk of Allowance for Loan Losses
Detailed Walk of Allowance for Loan Losses 18
Slide 19: Reconciliation of Net Income to Distributable Earnings
Reconciliation of Net Income to Distributable Earnings For the Three Months Ended GAAP to Distributable Earnings Reconciliation Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 June 30, 2025 Reconciliation of GAAP to non-GAAP Information Net income attributable to common stockholders $5,095,684 $3,604,879 $(1
Slide 20: Detailed Walk of Capitalization as of 6/30/2025
Detailed Walk of Capitalization as of 6/30/2025 LFT Capitalization Reconciliation (in 000's) 6/30/2025 Total GAAP liabilities and stockholders' equity(1) $998,288 Adjustments for Capitalization ( - ) Accrued interest payable (2,183) ( - ) Dividends payable (4,138) ( - ) Fees and expenses payable to
Slide 21: Book Value Per Share of Common Stock as of 6/30/2025
Book Value Per Share of Common Stock as of 6/30/2025 Book Value Per Common Share (in 000's) June 30, 2025 Total stockholders’ equity $231,456 ( - ) Preferred equity(1) (60,000) ( - ) Non-controlling interest (100) Common equity $171,356 Shares outstanding 52,341,046 Book Value Per Share of Common St
Slide 22: Key Definitions
Key Definitions “Book Value Per Share of Common Stock” is calculated as: a) total stockholders’ equity computed in accordance with GAAP less the value of the issued and outstanding preferred stock at its stated liquidation preference of $25.00 per share, divided by b) the weighted average number of
Slide 23: August 2025
=| LUMENT August 2025