Slide 1: Supplemental Data
NYSE: LADR Supplemental Data Quarter Ended June 30, 2026 AN INVESTMENT GRADE REIT N E W Y O R K | M I A M I
Slide 2: Disclaimers
DISCLAIMERS This presentation contains forward-looking statements regarding possible or assumed future results of the business, financial condition, plans and objectives of Ladder Capital Corp and its subsidiaries (collectively, “Ladder Capital,” “Ladder,” “LADR,” or the “Company”). Any statement co
Slide 3: Second Quarter 2026 Highlights
SECOND QUARTER 2026 HIGHLIGHTS Robust Loan Originations Investment Grade Capital Structure $550M new loan originations in Q2 2026 > $1.5B total capacity on unsecured credit facilities ~ 7.2% W.A. yield on Q2 2026 originations 67% of total financing comprised of unsecured debt $1.2B new loan originat
Slide 4: Second Quarter 2026 Summary
SECOND QUARTER 2026 SUMMARY 1 Earnings, Dividends and Book Value Distributable Earnings of $30.8M and Distributable EPS of $0.24; Distributable ROAE of 8.3% 2 Declared Q2 2026 cash dividend of $0.23 per LADR share, which represents a 9.4% annual dividend yield Undepreciated book value per share of $
Slide 5: Diversified CRE Investments
DIVERSIFIED CRE INVESTMENTS Granular portfolio of debt & equity investments with significant liquidity on hand $597M net lease (56% of CRE equity) > 99% senior secured first mortgages CRE Equity 149 properties $1,058 ~ 6.2-year avg. remaining lease term ~ $25M-$30M avg. loan size (18%) 68% W.A. LTV
Slide 6: Loan Portfolio Overview
LOAN PORTFOLIO OVERVIEW Middle-market loans provide enhanced liquidity and mitigate concentration risk LOAN SIZE ORIGINATION YEAR KEY LOAN PORTFOLIO METRICS Below $25M: 27% 2026 YTD $2.8B Total loan portfolio $25M – 37% $50M: 2025 39% 45% Above $100M: 99% Senior secured first mortgage loans 11% $76M
Slide 7: Loans Segment Summary
LOANS SEGMENT SUMMARY Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Balance Sheet First Mortgage Loans Carrying Value of Assets (end of quarter) $2,787 $2,604 $2,210 $1,913 $1,586 Origination Volume 537 608 433 511 173 Funding Volume 473 565 410 483 162 1 Weighted-Average Coupon (end of quarter) 6.9% 7.0%
Slide 8: CRE Equity Segment Summary
CRE EQUITY SEGMENT SUMMARY Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 CRE Equity Portfolio Snapshot 3 Net Leased Commercial Real Estate (100% Owned) PROPERTY TYPE Acquisitions – – – – – Dollar Store Net Sales Proceeds – – – – – 13% Multifamily 25% Drug GAAP Carrying Value (end of quarter) 393 397 402 4
Slide 9: Securities Segment Summary
SECURITIES SEGMENT SUMMARY 06/30/2026 03/31/2026 12/31/2025 09/30/2025 06/30/2025 Carrying Value of Assets $1,872 $2,074 $2,088 $1,941 $1,966 Weighed-Average Yield 5.2% 5.3% 5.3% 5.7% 5.9% Number of CUSIPs 135 143 141 139 134 Average CUSIP Size $13.9 $14.5 $14.8 $14.0 $14.7 Weighted-Average Duration
Slide 10: Investment Portfolio Summary
INVESTMENT PORTFOLIO SUMMARY Investment Portfolio Distributable Earnings Contribution (as of 06/30/2026) (Six Months Ended 06/30/2026) Carrying Value % of Total Amount of % of Total Investment Type of Assets Assets Contribution Contribution Conduit First Mortgage Loans $27 0.5% $2.0 1% Balance Sheet
Slide 11: Ladder Snapshot
LADDER SNAPSHOT Snapshot of Business Lines Total Assets & Liabilities, Book Equity, Leverage and ROE Balance Sheet Loans Net Leased Commercial Real Estate (100% Owned) Total Assets Carrying Value of Assets $2,790 Carrying Value of Assets $393 Cash & Cash Equivalents $38 Secured Financing on Assets A
Slide 12: Capital Structure Update
CAPITAL STRUCTURE UPDATE
Slide 13: Investment Grade Capital Structure
INVESTMENT GRADE CAPITAL STRUCTURE Modest leverage with focus on unsecured capital C A P I TA L I Z AT I O N S U M M A R Y C A P I TA L S T R U C T U R E H I G H L I G H T S 2.3x Adjusted leverage ratio 1 Book Equity $1,426 Unsecured (26%) 67% Unsecured debt / total debt Corporate Bonds, $5.4B Revol
Slide 14: Liquid Unencumbered Asset Pool
LIQUID UNENCUMBERED ASSET POOL Senior secured, financeable unencumbered asset base COMPOSITION HIGHLIGHTS Securities 73% Unencumbered assets % of total assets $925 (22%) 85% Comprised of cash, first mortgage loans and IG securities First Mortgage $4.3B Loans total CRE Equity 1.59x Unencumbered asset
Slide 15: Well-Laddered Debt Maturities
WELL-LADDERED DEBT MATURITIES Staggered maturities with focus on unsecured debt D E B T M AT U R I T Y P R O F I L E $1,000 $934 $872 $842 $800 $16 $705 $600 $560 $826 $775 2 $836 1 (rolling $589 $400 financing on AAA $500 securities) $200 $82 $116 $25 $159 $36 $60 $0 2026 2027 2028 2029 2030 2031 2
Slide 16: Book Equity Value Roll-Forward
BOOK EQUITY VALUE ROLL-FORWARD S U M M A R Y O F C H A N G E S T O B O O K E Q U I T Y VA L U E D U R I N G Q 2 2 0 2 6 $1,714 $1,705 Undepreciated Undepreciated $1,447 $14 $1 $4 $1,429 GAAP ($29) ($8) GAAP 03/31/2026 GAAP Distributions & Other Equity-Based Stock 06/30/2026 Book Equity Value1 Net In
Slide 17: Detailed Quarterly Financials
DETAILED QUARTERLY FINANCIALS
Slide 18: Income Statement by Quarter
INCOME STATEMENT BY QUARTER ($ in millions, except per share values) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Net interest income Interest income $78.2 $74.2 $68.1 $71.8 $62.7 Interest expense 55.6 51.2 45.7 44.0 41.2 Net interest income $22.6 $23.0 $22.3 $27.8 $21.5 Provision for (release of) loan l
Slide 19: Earnings Reconciliations by Quarter
EARNINGS RECONCILIATIONS BY QUARTER ($ in millions, except per share values) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Net income (loss) $14.6 $2.6 $15.9 $19.2 $17.1 Income tax expense (benefit) 1.7 0.6 (0.3) 1.0 3.7 Income (loss) before taxes $16.3 $3.2 $15.5 $20.1 $20.8 Net (income) loss attributabl
Slide 20: Balance Sheet by Quarter
BALANCE SHEET BY QUARTER ($ in millions, except per share values) 06/30/2026 03/31/2026 12/31/2025 09/30/2025 06/30/2025 Assets Cash and cash equivalents $37.6 $33.1 $38.0 $49.4 $134.9 Restricted cash 16.8 18.5 14.9 13.5 13.4 Mortgage loan receivables held for investment, net, at amortized cost 2,74
Slide 21: Book Equity & Adjusted Leverage by Quarter
BOOK EQUITY & ADJUSTED LEVERAGE BY QUARTER ($ in millions, except per share values) 06/30/2026 03/31/2026 12/31/2025 09/30/2025 06/30/2025 Beginning book equity balance $1,444.5 $1,481.4 $1,493.4 $1,500.1 $1,514.4 Net income (loss) attributable to Class A common shareholders 14.6 2.6 15.9 19.2 17.3
Slide 22: Selected Definitions
SELECTED DEFINITIONS Adjusted Leverage Ratio (non-GAAP) ̶ Total debt obligations, net of deferred financing costs, adjusted to exclude non-recourse indebtedness related to securitizations that is consolidated on our GAAP balance sheet and liabilities for transfers not considered sales, divided by To