Annaly Capital Management Inc. · NYSE:NLY
Annaly Capital Management — Shareholder Meeting (May 2021)
17 slides from Annaly Capital Management's shareholder meeting presentation, May 19, 2021
Slide 1: Annual Meeting Presentation
Annual Meeting Presentation May 19, 2021
Slide 2: Important Notices
Important Notices This presentation is issued by Annaly Capital Management, Inc. ("Annaly"), an internally-managed, publicly traded company that has elected to be taxed as a real estate investment trust for federal income tax purposes and is being furnished in connection with Annaly’s 2021 Annual Me
Slide 3: About Our Company
About Our Company Annaly Capital Management, Inc. (“Annaly”) is a leading diversified capital manager that invests in two fundamental pillars of the American economy: housing and business $14bn 970% $20bn+ Permanent Total Shareholder Common and Preferred Capital(1) Return Since IPO(2) Dividends Decl
Slide 4: Power of Annaly | The Industry Leader With a Differentiated Investing Model
Power of Annaly | The Industry Leader With a Differentiated Investing Model ~14x $100bn 10 $8.9bn Size of Median mREIT Total Assets(2) Financing Options Unencumbered Assets by Market Cap(1) Scale Diversified Financing Liquid Annaly uses its size and scale to Annaly is able to efficiently Annaly’s de
Slide 5: Proven Results | Delivering Outsized Returns Over 20+ Years
Proven Results | Delivering Outsized Returns Over 20+ Years Since inception, Annaly has delivered ~$21bn in dividends to shareholders(1) $22,500 $18,000 $13,500 $9,000 $4,500 – 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 202
Slide 6: People First | Our Greatest Asset is Our Employees
People First | Our Greatest Asset is Our Employees Our People Employee Gender and Racial/Ethnic Diversity Our greatest asset is our employees – highly skilled individuals with varying sets of professional experience across sectors, credit cycles and functions – 32% 32% 45% 38% who work every day c
Slide 7: Annaly Investment Strategies
Annaly Investment Strategies The Annaly Agency Group Invests in Agency Assets(1) $92.6bn MBS collateralized by residential mortgages which Capital(2) $10.2bn are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae and complementary investments Sector Rank(3) #1/7 within the Agency market, including
Slide 8: Annaly's Planned Divestiture of Our Commercial Real Estate Business
Annaly’s Planned Divestiture of Our Commercial Real Estate Business Transaction Overview On March 25, 2021, Annaly entered into a definitive agreement to sell substantially all of the assets that comprise the Annaly Commercial Real Estate business to Slate Asset Management, L.P. (“Slate”) for $2.3
Slide 9: Expansion of Investment in Housing Finance
Expansion of Investment in Housing Finance The combination of our business strategies enhances risk-adjusted We are focused on strategically expanding our leadership across all returns over time through optionality and risk management aspects of the housing market Economic and market perspectives
Slide 10: Financing, Capital & Liquidity
Financing, Capital & Liquidity We believe that Annaly’s deep and diverse financing sources provide the Company with unique competitive advantages Annaly’s Approach to Leverage Evaluate the relative benefits and Capital considerations of all forms of Asset-Level Consider structural leverage relat
Slide 11: Operational Efficiency
Operational Efficiency Annaly’s Internalization and planned divestiture of the Commercial Real Estate business provide an opportunity for incremental cost control Annaly operates a highly institutionalized platform and has benefited from its scale and efficiency, operating at lower cost levels tha
Slide 12: 2020 | Leading with Purpose and Impact
2020 | Leading with Purpose and Impact During this time of considerable global challenges, Annaly has chosen to lead with purpose and impact Completed Management Internalization Published Inaugural Corporate Responsibility Report In Q2 2020, we completed our management internalization, which provi
Slide 13: Annaly Has Taken Significant Steps to Advance Corporate Governance & Responsibility Practices
Annaly Has Taken Significant Steps to Advance Corporate Governance & Responsibility Practices Annaly has made several important corporate governance and responsibility enhancements to promote shareholder value and support transparency over the last few years 2017 2018 Adopted an enhanced self- Initi
Slide 14: We Believe Annaly Continues to Provide an Attractive Value Proposition
We Believe Annaly Continues to Provide an Attractive Value Proposition While interest rates have begun to slowly rise, the search for responsible yield persists U.S. Aggregate Index Yield (%) and Duration (Years)(1) 8.0% 7 7.0% 6 6.0% 5 5.0% Yield 4 4.0% Duration Yield Compression 3.0% 3 Broadly 2.0
Slide 15: Glossary and Endnotes
Glossary and Endnotes ANNALY Zz
Slide 16: Glossary
Glossary ACREG: Refers to Annaly Commercial Real Estate Group Middle Market Represents companies comprising the S&P BDC Lending Peers: Index* Agency Peers: Represents companies comprising the Agency mREITs or mREIT Represents constituents of the BBREMTG Index*, sector within the BBREMTG Index*(1) Pe
Slide 17: Endnotes
Endnotes Page 3 1. Permanent capital represents Annaly’s total stockholders’ equity. 2. Total return represents total shareholder return for the period beginning October 7, 1997 through April 15, 2021. 3. Data shown since Annaly’s initial public offering in October 1997 through April 15, 2021 and in
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