Rithm Property Trust Inc. · NYSE:RPT
Rithm Property Trust — Q4 2025 Earnings Presentation
16 slides from Rithm Property Trust's earnings presentation, Feb 13, 2026
Slide 1: Quarterly Supplement Q4 2025
Quarterly Supplement Q4 2025
Slide 2: Disclaimers
Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” FORWARD-LOOKING STATEMENTS. This presentation contains
Slide 3: Rithm Property Trust
Rithm Property Trust Rithm Property Trust (NYSE: RPT) is a real estate investment platform focused on commercial real estate (“CRE”) lending and opportunistic investing • Externally managed by an affiliate of Rithm Capital, who has significant alignment of interests as one of the largest shareholder
Slide 4: Financial Highlights
Financial Highlights • Stabilized earnings: FY25 EAD of ($0.04) per diluted share is a meaningful improvement from FY24 EAD of ($2.90) per diluted share(1)(2) • Stock split: The Company effected a one for six reverse stock split of its common stock on December 30, 2025 Q4’25 FY25 GAAP Comprehensive
Slide 5: RPT Strategic Transformation
RPT Strategic Transformation RPT is well positioned for future growth as it continues to execute on its strategic plan(1) Q2’24 Q3’24 – Q4’25 Future Rithm becomes State(1) Strategic actions to reposition the portfolio into higher-yielding CRE assets Manager An affiliate of Rithm ✓ Initiated wind-dow
Slide 6: Illustrative Repositioning of Portfolio
Illustrative Repositioning of Portfolio(1) Capital can be deployed across attractive CRE assets to generate accretive returns Clear Visibility into Potential Portfolio Allocation • Portfolio composition expected to include high-quality assets • Strong target asset fundamentals support dividend cover
Slide 7: RPT Benefits from Rithm's Extensive Sourcing Capabilities
RPT Benefits from Rithm’s Extensive Sourcing Capabilities RPT’s direct access to the Rithm ecosystem provides RPT with enhanced visibility into a robust pipeline of attractive investment opportunities Multiple Proprietary Channels Through Rithm’s Family of Operating Companies Commercial Real Estate
Slide 8: Looking Ahead at the Opportunity
Looking Ahead at the Opportunity RPT is entering the market at an attractive time for non-bank CRE lenders(1) ✓ Stabilization of property values across majority of asset classes due to stronger Improving Fundamentals Across occupancy rates, limited future supply and improved capital availability(2)
Slide 9: Appendix
Appendix j rithm
Slide 10: Consolidated Balance Sheet (Unaudited)
Consolidated Balance Sheet (Unaudited) As of December 31, September 30, ($ in thousands, except share and per share amounts) 2025 2025 Assets Cash and cash equivalents $ 79,321 $ 81,446 Restricted cash 811 924 Residential mortgage loans held-for-investment, net 362,829 372,865 Residential mortgage l
Slide 11: Book Value per Share Summary (Unaudited)
Book Value per Share Summary (Unaudited) Adjusted Shares ($ in thousands except share and per share amounts) Book Value Per Share Equity Outstanding Ending book value per share as of September 30, 2025(1) $ 31.81 $ 240,868 7,571,410 Net Income (Loss) Attributable to Common Stockholders 0.26 1,954 Co
Slide 12: Consolidated Statement of Operations (Unaudited)
Consolidated Statement of Operations (Unaudited) Three Months Ended Twelve Months Ended December 31, September 30, December 31, December 31, ($ in thousands, except share and per share amounts) 2025 2025 2025 2024 Net Interest Income Interest income $ 12,540 $ 13,424 $ 52,800 $ 52,874 Interest expen
Slide 13: GAAP Reconciliation of Earnings Available for Distribution (Unaudited)
GAAP Reconciliation of Earnings Available for Distribution (Unaudited) Three Months Ended Year Ended December 31, September 30, December 31, December 31, ($ in thousands, except share and per share amounts) 2025 2025 2025 2024 Reconciliation of GAAP Comprehensive Income to Earnings Available for Dis
Slide 14: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures • “Earnings available for distribution” is a non-GAAP financial measure of the Company’s operating performance, which is used by management to evaluate the Company’s performance excluding: (i) net realized and unrealized gains and losses on certain asset
Slide 15: Endnotes
Endnotes Endnotes to Slide 3: Source: Company SEC filings and current financial information. Financial and market data as of December 31, 2025, unless otherwise noted. 1) Based upon publicly available SEC filings, including Rithm Property Trust’s Proxy Statement filed with the SEC on April 21, 2025.
Slide 16: Rithm
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