Armour Residential Reit, Inc. · NYSE:ARR
Armour Residential Reit — Q4 2025 Earnings Presentation
13 slides from Armour Residential Reit's earnings presentation, Feb 19, 2026
Slide 1: ARMOUR Residential REIT Q4 2025 Investor Presentation
FEBRUARY 18, 2026 ARMOUR RESIDENTIAL REIT Q4 2025 Investor Presentation 1
Slide 2: Corporate Profile
CORPORATE PROFILE ARMOUR Residential REIT, Inc. (NYSE: ARR) ARMOUR Residential REIT, Inc. (“ARMOUR”; NYSE: ARR) brings private capital into the mortgage markets to support home ownership for a broad and diverse spectrum of homeowners. We seek to create shareholder value through thoughtful investment
Slide 3: Quarterly Highlights
Quarterly Highlights Q4 2025 Q3 2025 Q2 2025 Q1 2025 Dividend/Share ($) 0.72 0.72 0.72 0.72 Distributable Earnings(1)/Share ($) 0.71 0.72 0.77 0.86 Book Value/Share ($) 18.63 17.49 16.90 18.59 Total Economic Return(2) 10.6% 7.8% (5.2)% 1.3% Portfolio Balance (in $ millions) 20,015.8 18,180.8 15,427.
Slide 4: Markets Overview
Markets Overview % 5.00 4.50 2 SX ve ee 8 — 30yr MBS Production Coupon Yield 30yr Mortgage Rate & Par Coupon Yield (%) eee EP OPEL LE SL $ of FFP EPP EE OSS LLL LL SSL 30yr Conforming Mortgage Rate (bps) 250 200 150 100 50 ° ° $ oo gf eof Fv & ee s s ew FS S ) Agency MBS Spreads to Swaps & Treasurie
Slide 5: Investment Portfolio as of 1/31/2026
Investment Portfolio as of 1/31/2026 5
Slide 6: Portfolio Summary as of Jan 31, 2026
Portfolio Summary as of Jan 31, 2026 Market Value Effective ARMOUR Portfolio Composition % of Portfolio ARMOUR Key Data (in $ millions) Duration Agency CMBS 5.5 % 1,154 4.15 Common Stock Price ($) 17.40 30 Year Fixed Rate Pools 89.4 % 18,752 3.93 Debt-Equity (1) 7.5 Conventionals 87.0 % 18,248 3.96
Slide 7: Financing Summary as of Jan 31, 2026
Financing Summary as of Jan 31, 2026 ARMOUR Repo Principal Borrowed % of Repo Positions with Weighted Average Weighted Average Longest Maturity (days) Composition (in $ millions) ARMOUR Original Term (days) Remaining Term (days) BUCKLER Securities LLC (5) 8,190 45.1 % 32 23 76 All Other Counterparti
Slide 8: Condensed Financials as of 12/31/2025
Condensed Financials as of 12/31/2025 8
Slide 9: Condensed Balance Sheets (unaudited)
Condensed Balance Sheets (unaudited) December 31, 2025 December 31, 2024 $ in thousands Assets Cash and cash equivalents $ 63,270 $ 67,970 Cash collateral posted to counterparties 226,701 78,213 Agency Securities 19,417,640 12,439,414 U.S. Treasury Securities 598,109 — Derivatives, at fair value 611
Slide 10: Condensed Statements of Operations (unaudited)
Condensed Statements of Operations (unaudited) For the Years Ended December 31, 2025 2024 2023 $ in thousands, except per share amounts Interest Income Interest Income $ 800,424 $ 550,946 $ 552,903 Interest expense (642,085) (524,146) (525,794) Net Interest Income $ 158,339 $ 26,800 $ 27,109 Other I
Slide 11: Distributable Earnings Non-GAAP Reconciliation
Distributable Earnings Non-GAAP Reconciliation(1) Q4 2025 Q3 2025 Q2 2025 Q1 2025 $ in millions except, share and per share Net Interest Income $ 50.4 $ 38.5 $ 33.1 $ 36.3 TBA Drop and interest margin income — 0.7 1.3 1.5 Net interest income on interest rate swaps 44.5 50.6 46.3 41.5 Net interest in
Slide 12: Footnotes
Footnotes SLIDES 3 and 11 1. Distributable Earnings is a non-GAAP measure defined as net interest income plus TBA Drop Income adjusted for the net coupon effect of interest rate swaps and futures contracts minus net operating expenses (see page 11 for the reconciliation of the elements of Distributa
Slide 13: Disclaimers
Disclaimers ARMOUR is externally managed by ARMOUR Capital Management LP, which is The statements, information and estimates contained herein are based on also the majority owner of BUCKLER Securities LLC, a FINRA registered information that the Company believes to be reliable as of today's date unl
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