Tpg Mortgage Investment Trust, Inc. · NYSE:MITT

Tpg Mortgage Investment Trust — Q3 2025 Earnings Presentation

20 slides from Tpg Mortgage Investment Trust's earnings presentation, Nov 4, 2025

  1. Slide 1: AG Mortgage Investment Trust, Inc. Q3 2025 Earnings Presentation

    AG Mortgage Investment Trust, Inc. Q3 2025 Earnings Presentation September 30, 2025 1

  2. 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

  3. Slide 3: Q3 2025 MITT Earnings Call Presenters

    Q3 2025 MITT Earnings Call Presenters T.J. Durkin Nicholas Smith Anthony Rossiello Chief Executive Officer & Chief Investment Officer Chief Financial Officer President NYSE: MITT 3

  4. 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

  5. Slide 5: Q3 2025 Financial Position

    Q3 2025 Financial Position $10.46 $8.8 $559.8 $104.2 1.7x Book Value per Share1 Investment Portfolio Total Equity Liquidity2,(a) Economic Leverage Ratio3 (in billions) (in millions) (in millions) Book Value per Share1 Investment Portfolio5 ($bn) Financing Profile5 ($bn) $0.2 $0.1 $0.1 $10.66 $0.2 $1

  6. Slide 6: Q3 2025 Performance

    Q3 2025 Performance Strategic equity rotation and profitability at Arc Home driving earnings power $20.2mm $0.47 • Unrealized gains on our Securitized Loan and Non- Q3 Net Interest Income Q3 Earnings per Share8 Agency RMBS portfolios from credit spread tightening • Significant rotation of equity fro

  7. 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 $11 billion of residential mortgage $10.0 loans since 2021 from Arc Home

  8. Slide 8: Loan Portfolio

    Loan Portfolio Non-Agency Loans(a) Equity Invested in Loan Portfolio $7.4bn 5.9% 765 Unpaid Principal Coupon(b) FICO(b) Balance 19.4% 36.4% 62% 1.1% 93% Current LTV(b),(c) 90+ Days DQ %(d) Fixed Rate %(d) $403.0mm Home Equity Loans(e) 3.9% $1.0bn 9.8% 747 40.3% Unpaid Principal Coupon(b) FICO(b) Bal

  9. Slide 9: Legacy WMC Commercial Investments

    Legacy WMC Commercial Investments Commercial Investments Acquired in WMC Merger $53.7mm of Equity Invested (by Investment Type) • $10.7 million of equity returned in Q3 2025 resulting from pay off of one CMBS with capital redeployed into target assets 14.4% • Remaining commercial exposure represents

  10. Slide 10: Arc Home: MITT's Proprietary Origination Channel

    Arc Home: MITT's Proprietary Origination Channel10 Acquisition of an additional 21.4% interest coupled with record Non-Agency lock volumes driving meaningful contribution to EAD Funding by Product ($bn) $1.4 $49.2mm 8.8% $1.2 $1.0 $1.0 $0.8 $0.8 $0.8 $0.7 $0.7 MITT’s Investment in $0.6 $0.9 % of MIT

  11. Slide 11: Q3 2025 Investment Portfolio

    Q3 2025 Investment Portfolio5 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 $7,350.8 $7,142.7 5.8% $7,053.0 $6,908.7 5.3% $234.0 1.8x 19.6% Securitized Home E

  12. Slide 12: Q3 2025 Financing Profile

    Q3 2025 Financing Profile5 Investment Portfolio primarily financed through term, non mark-to-market securitized debt, operating with a low Economic Leverage Ratio3 Amount Cost of Advance GAAP Financing (in millions) Funds7,(a) Rate Economic Leverage3 Securitized Debt $7,428.1 5.4% 90% 0.2x Residenti

  13. Slide 13: Book Value Roll-Forward

    Book Value Roll-Forward1 Three Months Ended September 30, 2025 Amount (000’s) Per Diluted Share8 6/30/2025 Book Value $308,416 $10.39 Common dividend (6,664) (0.21) Issuance of restricted shares of common stock to acquire additional 15,330 (0.19) interest in Arc Home10,(a) Equity based compensation

  14. Slide 14: Reconciliation of Q3 2025 EAD

    Reconciliation of Q3 2025 EAD9 Three Months Ended September 30, 2025 Three Months Ended September 30, 2025 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 Ne

  15. Slide 15: Appendix

    Appendix 15

  16. Slide 16: Economic Leverage

    Economic Leverage3 Reconciliation of GAAP Leverage Ratio to Economic Leverage Ratio as of September 30, 2025 ($ in thousands)(a) Securitized debt, at fair value(b) $ 7,428,111 Financing arrangements (c) 838,245 Senior unsecured notes(c) 96,267 Restricted cash posted on financing arrangements (4,427)

  17. Slide 17: Condensed Consolidated Balance Sheets

    Condensed Consolidated Balance Sheets September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 (in thousands) (unaudited) (unaudited) Assets Liabilities Securitized residential mortgage loans, at fair value $ 8,288,983 $ 6,197,678 Securitized debt, at fair value $ 7,428,111 $ 5,491,

  18. Slide 18: Condensed Consolidated Statement of Operations

    Condensed Consolidated Statement of Operations (unaudited) Three Months Ended Three Months Ended September 30, September 30, September 30, September 30, (in thousands, except per share data) 2025 2024 2025 2024 Net Interest Income Total Earnings/(Loss) Per Share of Common Stock Interest income $ 124

  19. 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. Total liquidity includes $59.0 million of cash and cash equivalents, $44.5 million of available committed financing on certain Home Equi

  20. Slide 20: www.agmit.com

    TPG www.agmit.com

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