Granite Point Mortgage Trust Inc. · NYSE:GPMT
Granite Point Mortgage Trust — Investor Presentation (January 2026)
43 slides from Granite Point Mortgage Trust's investor presentation, January 2026
Slide 1: Investor Presentation
Investor Presentation January 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains, or incorporates by reference, not only historical information, but also forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Our ac
Slide 3: Cautionary Statement Regarding Endnotes
Cautionary Statement Regarding Endnotes You are encouraged to carefully read the endnotes that are a part of this presentation and start on slide 27 hereto. The endnotes include important information, including details regarding the assumptions we utilize to prepare the illustrative examples contain
Slide 4: Company Overview
Company Overview
Slide 5: Company Overview
Company Overview • An internally-managed commercial real estate finance company operating as a REIT, that is focused on originating and investing in floating-rate, first mortgage loans secured by institutional-quality transitional properties in the U.S. • Investment objective emphasizes preservation
Slide 6: Corporate Snapshot
Corporate Snapshot $1.8 billion* 100% Loans ~$39.1 million 7.5% 65.0% Portfolio of 44 99% Senior Loans Average UPB Realized Loan Weighted Loan Investments 97% Floating Rate Portfolio Yield** Average LTV** $1.7 billion 1.9x 0.8x ~63% $65.3 million† Financing Capacity Total Debt-to-Equity Recourse Deb
Slide 7: Investment Highlights
Investment Highlights EXPERIENCED AND ▪ Each senior investment team member has over 20-25 years of experience in the commercial real estate debt CYCLE-TESTED markets, including extensive backgrounds in investment management and structured finance SENIOR CRE TEAM ▪ Broad and long-standing direct rela
Slide 8: Experienced and Cycle-Tested Senior Leadership
Experienced and Cycle-Tested Senior Leadership YEARS OF JACK TAYLOR PRESIDENT AND CHIEF EXECUTIVE OFFICER EXPERIENCE • Previous experience: Head of Global Real Estate Finance, Prudential Real Estate Investors; earlier built and led real estate finance businesses at: Kidder, Peabody; PaineWebber; UBS
Slide 9: Seasoned and Cohesive Team with Top-Tier Multidisciplinary Expertise
Seasoned and Cohesive Team with Top-Tier Multidisciplinary Expertise DECADES OF BROAD EXPERIENCE SUCCESSFULLY NAVIGATING MANY ECONOMIC AND MARKET CYCLES ✓ Decades of balance sheet lending experience managing unlevered and levered portfolios of CRE debt investments and serving as a fiduciary for thir
Slide 10: Investment Strategy and Origination Platform
Investment Strategy and Origination Platform
Slide 11: Investment Strategy Targeting Senior Loans
Investment Strategy Targeting Senior Loans FLOATING RATE FIRST MORTGAGE LOANS PROVIDE EXPOSURE TO COMMERCIAL REAL ESTATE SECTOR AT AN ATTRACTIVE POSITION WITHIN A PROPERTY'S CAPITAL STRUCTURE • Our senior loans are senior to a property owner’s I L L U S T R AT I V E P R O P E R T Y C A P I TA L S T
Slide 12: Target Investments and Portfolio Construction
Target Investments and Portfolio Construction THE COMPANY HAS A SUCCESSFUL INVESTMENT PHILOSOPHY THAT HAS BEEN TESTED THROUGH MULTIPLE ECONOMIC, INTEREST RATE AND REAL ESTATE CYCLES K E Y T E N E T S O F ST R AT E GY P O R T FO L I O C O N ST RU C T I O N ✓ Long-term, fundamental, value-driven philo
Slide 13: Direct Origination Platform Supported by Strong Relationships
Direct Origination Platform Supported by Strong Reputation and Longstanding Relationships DIFFERENTIATED ORIGINATION STRATEGY TARGETING HIGH-QUALITY LOANS ON INSTITUTIONAL-QUALITY PROPERTIES ACROSS ATTRACTIVE MARKETS WITH WELL-CAPITALIZED AND EXPERIENCED SPONSORS • Borrowers range from large private
Slide 14: Rigorous and Highly Selective Investment Process
Rigorous and Highly Selective Investment Process ORIGINATION APPROACH PRODUCES A LARGE UNIVERSE OF OPPORTUNITIES FROM WHICH THE MOST ATTRACTIVE INVESTMENTS ARE SELECTED FOR OUR PORTFOLIO M U LT I P L E S O U R C I N G C H A N N E L S Billions of dollars of investment opportunities annually are sourc
Slide 15: Credit Culture Based on Key Principles
Credit Culture Based on Key Principles OUR CREDIT CULTURE HAS BEEN DEVELOPED AND NURTURED OVER OUR SENIOR CRE TEAM’S LONG TENURE IN COMMERCIAL REAL ESTATE DEBT MARKETS • Portfolio construction on a loan-by-loan basis with each investment standing on its own merits and adhering to our overall credit
Slide 16: Coordinated and Comprehensive Approach to Asset Management
Coordinated and Comprehensive Approach to Asset Management ORIGINATION TEAM THAT SOURCES A LOAN REMAINS RESPONSIBLE FOR ASSET MANAGING IT THROUGHOUT ITS LIFECYCLE UNTIL REPAYMENT • 5-point loan risk rating system • Deal teams retain key decision-making authority on asset management (budgets, lease a
Slide 17: Portfolio Overview
Portfolio Overview
Slide 18: Loan Portfolio Overview
Loan Portfolio Overview Well-diversified and granular portfolio comprised of over 99% senior loans with a weighted average stabilized LTV at origination of 65.0%* KEY LOAN PORTFOLIO STATISTICS PROPERTY TYPE(1) Total Loan Commitments $1.8 billion Outstanding Principal Balance $1.7 billion Number of I
Slide 19: Loan Investment Portfolio Credit Overview
Loan Investment Portfolio Credit Overview CECL RESERVE BY QUARTER ( $ i n m i l l i o n s ) CECL RESERVE AS % OF COMMITMENTS BY QUARTER STABILIZED LTV AT ORIGINATION RISK RATINGS Weighted average portfolio risk rating of 2.8 19
Slide 20: Overview of Risk-Rated "5" Loans
Overview of Risk-Rated “5” Loans ▪ Three loans risk rated “5” with an aggregate unpaid principal balance of $196.3 million ▪ Focused on proactive asset management and targeting resolution options, which may include foreclosure, deed-in-lieu, loan restructuring or collateral sale ▪ Specific CECL rese
Slide 21: Real Estate Owned
Real Estate Owned Miami Beach, FL Maynard, MA • Property: 140,000 square foot, Class “A” office building with • Property: 1,050,000 square foot, “brick and beam” office ground floor retail space and a 499-space parking garage campus with 130 self storage units, 13 buildings, situated on 53 acres • C
Slide 22: Financial Highlights and Capitalization
Financial Highlights and Capitalization
Slide 23: Q3 2025 Summary Results
Q3 2025 Summary Results ▪ GAAP Net (Loss) attributable to common stockholders of $(0.6) million, or $(0.01) per basic weighted average common share FINANCIAL ▪ Distributable Earnings (Loss)(6) of $(18.9) million, or $(0.40) per basic weighted average common share SUMMARY ▪ Distributable Earnings (Lo
Slide 24: Funding Mix and Capitalization Highlights
Funding Mix and Capitalization Highlights WELL-BALANCED CAPITAL STRUCTURE WITH MODERATE LEVERAGE FINANCING SUMMARY ($ in millions) LEVERAGE RATIOS Total Outstanding Weighted Advance Non- Capacity Balance Average Cost Rate MTM ($ in millions) Repurchase Facilities $947 $438 S+2.89% 57.7% Secured Cred
Slide 25: Q4 2025 Business Update
Q4 2025 Business Update ▪ During the quarter, the Company has funded approximately $4.8 million in unpaid principal balance on existing loans PORTFOLIO and has realized about $39.0 million in full and partial principal repayments ACTIVITY(*) ▪ Further reduced the secured credit facility borrowings b
Slide 26: Endnotes
Endnotes
Slide 27: Endnotes
Endnotes 1) Mixed-use properties represented based on allocated loan amounts. Percentages are based off of carrying value 2) Max remaining term assumes all extension options are exercised and excludes four loans that have passed its maturity date and are not eligible for extension, if applicable 3)
Slide 28: Appendix
Appendix
Slide 29: Q3 2025 Financial Summary
Q3 2025 Financial Summary Summary Income Statement Summary Balance Sheet ($ in millions, except per share data) ($ in millions, except per share data, reflects carrying values) (Unaudited) (Unaudited) Net Interest Income $10.3 Cash $62.7 (Provision for) Benefit from Credit Losses $1.6 Restricted Cas
Slide 30: Q3 2025 Earnings and Book Value Per Share
Q3 2025 Earnings and Book Value Per Share ▪ GAAP Net (Loss) attributable to common stockholders of $(0.6) million, or $(0.01) per basic weighted average common share, inclusive of a $1.6 million, or $0.03 per basic weighted average common share, benefit from credit losses ▪ Book value per share of c
Slide 31: Quarterly Per Share Calculations
Quarterly Per Share Calculations RECONCILIATION OF GAAP TO NON-GAAP MEASURES ($ in millions, except per share data) (unaudited) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 GAAP Net (loss) income attributable to common stockholders $ (34.6) $ (42.4) $ (10.6) $ (17.0) $ (0.6) Adjustments: Provision for (B
Slide 32: Financial Statements Impact of CECL Reserves
Financial Statements Impact of CECL Reserves • Total allowance for credit losses of $(133.6) million, of which $2.7 million is related to future funding obligations and recorded in other liabilities • Loans reported on the balance sheet are net of the allowance for credit losses ($ in thousands) Q3
Slide 33: Summary of Investment Portfolio
Summary of Investment Portfolio Maximum Original Stabilized Loan Principal Carrying Cash All-in Yield at Term Initial LTV at LTV at ($ in millions) Commitment Balance Value Coupon* Origination** (Years) Origination Origination Senior Loans $1,782.8 $1,707.2 $1,569.7 S+3.61% S+3.92% 3.0 69.1% 65.2% S
Slide 34: Loan Investment Portfolio
Loan Investment Portfolio Maximum All-in Original Origination Loan Principal Carrying Cash Yield at Term Initial LTV at Stabilized LTV ($ in millions) Type Date Commitment Balance Value Coupon* Origination** (Years) State Property Type Origination at Origination Asset 1 Senior 12/19 $109.8 $107.9 $1
Slide 35: Average Balances and Yields/Cost of Funds
Average Balances and Yields/Cost of Funds Quarter Ended September 30, 2025 ($ in thousands) Average Balance* Interest Income/Expense Net Yield/Cost of Funds Interest-earning assets Loans held-for-investment Senior loans $1,744,602 $32,739 7.5 % Subordinated loans 13,047 267 8.2 % Total loan interest
Slide 36: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets GRANITE POINT MORTGAGE TRUST INC. September 30, December 31, CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) 2025 2024 ASSETS (unaudited) Loans held-for-investment $ 1,713,583 $ 2,097,375 Allowance for credit losses (130,908) (199,727) Lo
Slide 37: Condensed Consolidated Statements of Comprehensive (Loss) Income
Condensed Consolidated Statements of Comprehensive (Loss) Income GRANITE POINT MORTGAGE TRUST INC. Three Months Ended September Nine Months Ended September CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) 30, 30, (in thousands, except share data) 2025 2024 2025 2024 Interest income:
Slide 38: Distributable Earnings (Loss)
Distributable Earnings (Loss) ▪ Beginning with our Annual Report on Form 10-K for the year ended December 31, 2024, and for all subsequent reporting periods ending on or after December 31, 2024, we have elected to present Distributable Earnings (Loss), a non-GAAP measure, as a supplemental method of
Slide 39: Distributable Earnings (Loss) (cont'd)
Distributable Earnings (Loss) (cont’d) ▪ While Distributable Earnings (Loss) excludes the impact of the unrealized non-cash current provision for (benefit from) credit losses, we expect to only recognize such potential credit losses in Distributable Earnings (Loss) if and when such amounts are deeme
Slide 40: Other Definitions
Other Definitions Realized Loan ▪ Provided for illustrative purposes only. Calculations of realized loan portfolio yield are based on a number of assumptions (some or all of which may not occur) and are expressed as monthly equivalent yields that include net origination fees and exit fees and exclud
Slide 41: Other Definitions (cont'd)
Other Definitions (cont’d) Resolutions ▪ Reductions in a loan’s principal balance, including discounted payoffs, loan sales related to collateral dependent loans, REO conversions and write-offs Senior Loans ▪ A loan primarily secured by a first priority lien on commercial real property and related p
Slide 42: Company Information
Company Information Granite Point Mortgage Trust Inc. is an internally-managed real estate finance company that focuses primarily on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite
Slide 43: GRANIT MORTG
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