Tpg Mortgage Investment Trust, Inc. · NYSE:MITT
Tpg Mortgage Investment Trust — Q2 2026 Earnings Presentation
20 slides from Tpg Mortgage Investment Trust's earnings presentation, Aug 10, 2026
Slide 1: TPG Mortgage Investment Trust, Inc. Q2 2026 Earnings Presentation
TPG Mortgage Investment Trust, Inc. Q2 2026 Earnings Presentation June 30, 2026 1
Slide 2: Forward Looking Statements & Non-GAAP Financial Information
Forward Looking Statements & Non-GAAP Financial Information Forward Looking Statements: This presentation includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 related to dividends, book value, our
Slide 3: Q2 2026 MITT Earnings Call Presenters
Q2 2026 MITT Earnings Call Presenters T.J. Durkin Nicholas Smith Anthony Rossiello Chief Executive Officer & Chief Investment Officer Chief Financial Officer President NYSE: MITT 3
Slide 4: MITT: A Pure Play Residential Mortgage REIT
MITT: A Pure Play Residential Mortgage REIT Committed to generating attractive risk adjusted returns over the long-term as a programmatic aggregator and issuer of Non-Agency residential loan securitizations Liquidity to Support Access to Investment High Quality Portfolio Disciplined Approach Continu
Slide 5: Q2 2026 Financial Position
Q2 2026 Financial Position $10.00 $7.7 $546.0 $111.6 1.8x Book Value per Share1 Investment Portfolio2 Total Equity Liquidity3,(a) Economic Leverage Ratio4 (in billions) (in millions) (in millions) Book Value per Share1 Investment Portfolio2 ($bn) Financing Profile2 ($bn) $0.2 $0.1 $0.1 $0.3 $10.00 $
Slide 6: Q2 2026 Performance
Q2 2026 Performance Disciplined execution of our strategy provided stability in book value and dividend coverage $20.5mm $0.29 • Net mark-to-market gains on our investment and hedge Q2 Net Interest Income Q2 Earnings per Share8 portfolios • Earnings power on our investment portfolio continuing to ge
Slide 7: Securitization Activity
Securitization Activity Programmatic issuer of Non-Agency securitizations generating attractive equity returns on our investment portfolio Securitized Loan Acquire Loans Portfolio Growth ($bn) Significant growth, acquiring over $12 billion of residential mortgage loans since 2021 from Arc Home or th
Slide 8: Loan Portfolio
Loan Portfolio Non-Agency Loans(a) Equity Invested in Loan Portfolio $6.4bn 5.8% 752 Unpaid Principal Coupon(b) FICO(b) Balance 20.7% 41.4% 61% 1.2% 93% Current LTV(b),(c) 90+ Days DQ %(d) Fixed Rate %(d) $363.2mm Home Equity Loans(e) 34.4% $1.0bn 9.6% 750 3.5% Unpaid Principal Coupon(b) FICO(b) Bal
Slide 9: Legacy WMC Commercial Loans
Legacy WMC Commercial Loans Resolution of the Legacy WMC Commercial Loans provide meaningful upside in earnings power and EAD accretion ROE Upside 15 to 20% Portfolio Update Significant progress with 44% of fair value expected to be recovered in 2026 Capital Rotation Upside • Sale proceeds in 2026 f
Slide 10: Arc Home: MITT's Proprietary Origination Channel
Arc Home: MITT's Proprietary Origination Channel10 Increase in origination volumes of 28% year over year and record lock volumes during the quarter driving continued momentum in earnings power Funding by Product ($bn) $1.5 $1.6 $1.4 $1.4 $1.3 $1.4 $1.2 $46.4mm 8.5% $1.2 $1.0 $1.0 $1.0 $0.9 $1.0 $0.8
Slide 11: Q2 2026 Investment Portfolio
Q2 2026 Investment Portfolio2 Carrying Financing Cost of Economic Description ($ in mm’s) Asset Cost Asset FMV Yield6,(a) Value of Equity ROE(e) Cost(b) Funds7,(c) Leverage(d) Financing(b) Securitized Non-Agency Loans $6,458.6 $6,212.0 5.7% $6,201.3 $6,015.3 5.3% $196.7 2.0x 18.6% Securitized Home E
Slide 12: Q2 2026 Financing Profile
Q2 2026 Financing Profile2 Investment Portfolio primarily financed through term, non mark-to-market securitized debt, operating with a low Economic Leverage Ratio4 Amount Cost of Advance GAAP Financing (in millions) Funds7,(a) Rate Economic Leverage4 Securitized Debt $6,355.2 5.3% 89% 0.2x Residenti
Slide 13: Book Value Roll-Forward
Book Value Roll-Forward1 Three Months Ended June 30, 2026 Amount (000’s) Per Diluted Share8 3/31/2026 Book Value $316,405 $9.97 Common dividend (7,633) (0.24) Grant of restricted stock and amortization of equity based compensation, net 177 (0.01) Earnings available for distribution (“EAD”)9 7,736 0.
Slide 14: Reconciliation of Q2 2026 EAD
Reconciliation of Q2 2026 EAD9 Three Months Ended June 30, 2026 Three Months Ended June 30, 2026 Reconciliation of GAAP Net Income to Amount Per Diluted Amount Per Diluted Components of Earnings Available for Distribution Earnings Available for Distribution (000’s) Share8 (000’s) Share8 Net Income/(
Slide 15: Appendix
Appendix 15
Slide 16: Economic Leverage
Economic Leverage4 Reconciliation of GAAP Leverage Ratio to Economic Leverage Ratio as of June 30, 2026 ($ in thousands)(a) Securitized debt, at fair value(b) $ 6,355,237 Financing arrangements (c) 891,015 Senior unsecured notes(c) 96,858 Restricted cash posted on financing arrangements (8,030) GAAP
Slide 17: Consolidated Balance Sheets
Consolidated Balance Sheets June 30, 2026 December 31, 2025 June 30, 2026 December 31, 2025 (in thousands) (unaudited) (unaudited) Assets Liabilities Securitized residential mortgage loans, at fair value $ 7,119,175 $ 7,999,619 Securitized debt, at fair value $ 6,355,237 $ 7,177,923 Residential mort
Slide 18: Consolidated Statement of Operations (unaudited)
Consolidated Statement of Operations (unaudited) Three Months Ended Three Months Ended (in thousands, except per share data) June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net Interest Income Total Earnings/(Loss) Per Share of Common Stock Interest income $ 124,155 $ 110,865 Earnings/(Loss)
Slide 19: Footnotes
Footnotes 1. Book value is calculated using stockholders’ equity less the liquidation preference of our cumulative redeemable preferred stock of $228.0 million. 2. The Investment Portfolio consists of Residential Investments, Agency RMBS, and Legacy WMC Commercial Investments, all of which are held
Slide 20: www.mitt.tpg.com
TPG www. mitt.tpg.com
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