AG Mortgage Investment Trust, Inc. Reports Full Year and Fourth Quarter 2024 Results

About this update from Tpg Mortgage Investment Trust, Inc.

NEW YORK, March 03, 2025 --( BUSINESS WIRE )--AG Mortgage Investment Trust, Inc. ("MITT," "we," the "Company," or "our") (NYSE: MITT) today reported financial results for the full year and quarter ended December 31, 2024. MANAGEMENT REMARKS "MITT was able to deliver strong performance despite a challenging macro-economic environment, increasing book value and achieving a 2.4% quarterly economic return on equity, demonstrating its uniquely differentiated strategy," said T.J. Durkin, Chief Executive Officer and President. "Our ability to leverage the support and power of our external manager, TPG, has not only been instrumental in the WMC acquisition, which has been a resounding success for our shareholders, but has also enabled us to be nimble in asset allocation, seamlessly rotating in multiple flavors of non-agency credit in order to seize strategic market opportunities as they emerge." Mr. Durkin continued, "I’m looking forward to another great year for MITT as we remain committed to our growth initiatives, creating greater value for our shareholders." FULL YEAR AND FOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS Full Year 2024: Fourth Quarter 2024: INVESTING AND FINANCING HIGHLIGHTS DIVIDENDS STOCKHOLDER CALL The Company invites stockholders, prospective stockholders, and analysts to participate in MITT’s fourth quarter earnings conference call on Monday, March 3, 2025 at 8:30 a.m. Eastern Time. To participate in the call by telephone, please dial (800) 245-3047 at least five minutes prior to the start time. International callers should dial (203) 518-9765. The Conference ID is MITTQ424. To listen to the live webcast of the conference call, please go to https://event.on24.com/wcc/r/4825247/6BC631D78CC8B5E77CD1676157CAEF24 and register using the same Conference ID. The Company issued an earnings presentation detailing its fourth quarter 2024 financial results, which is available on the Company’s website, www.agmit.com , under "Presentations" in the "News & Presentations" section. For those unable to listen to the live call, an audio replay will be available on March 3, 2025 through 9:00 a.m. Eastern Time on April 3, 2025. To access the replay, please go to the Company’s website at www.agmit.com . ABOUT AG MORTGAGE INVESTMENT TRUST, INC. AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform within TPG. Additional information can be found on the Company’s website at www.agmit.com . ABOUT TPG ANGELO GORDON Founded in 1988, Angelo, Gordon & Co., L.P. ("TPG Angelo Gordon") is a diversified credit and real estate investing platform within TPG. The platform currently manages approximately $91 billion across a broad range of credit and real estate strategies. For more information, visit www.angelogordon.com . FORWARD LOOKING STATEMENTS This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Words such as "expects," "endeavor," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "should," "may," "projects," "could," "estimates," "continue" or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements are based on our beliefs, assumptions and expectations of our future operations, business strategies, performance, financial condition, liquidity and prospects, taking into account information currently available to us, and are not guarantees of future performance. Forward-looking statements regarding the Company include, but are not limited to, our ability to maintain or increase book value and economic return on equity, the level of support from and resources of the Company’s manager, our ability to be nimble in asset allocation and seize strategic market opportunities as they emerge, and our ability to execute on our growth initiative and create greater value for the Company’s shareholders. These forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, without limitation, changes in general economic or market conditions, including changes in inflation, interest rates and the fair value of our assets; changes in government regulations affecting our business; the Company’s ability to grow its residential loan portfolio; changes in prepayment rates and mortgage default rates on the Company’s assets; financing needs and arrangements; Arc Home's performance; and the risk factors contained in the Company’s filings with the Securities and Exchange Commission ("SEC"), including those described under the headings "Forward-Looking Statements" and "Risk Factors" in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in other reports and documents filed by the Company with the SEC from time to time, which are accessible on the SEC's website, http://www.sec.gov/ . Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this press release are made only as of the date of this press release or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law. All financial information in this press release is as of December 31, 2024, unless otherwise indicated. NON-GAAP FINANCIAL MEASURES This press release contains EAD and Economic Leverage Ratio, non-GAAP financial measures. Our presentation of these measures may not be comparable to similarly-titled measures of other companies, who may use different calculations. These non-GAAP measures should not be considered a substitute for, or superior to, the financial measures calculated in accordance with GAAP. Our GAAP financial results and the reconciliations from these results should be carefully evaluated. NON-GAAP FINANCIAL MEASURES Earnings Available for Distribution (3),(4) A reconciliation of GAAP Net Income/(loss) available to common stockholders to EAD for the three months ended December 31, 2024, the three months ended December 31, 2023, and the year ended December 31, 2024 is set forth below (in thousands, except per share data): Economic Leverage Ratio (8) The calculation in the table below divides GAAP leverage and Economic Leverage by our GAAP stockholders’ equity to derive our leverage ratios. The following table presents a reconciliation of our Economic Leverage ratio to GAAP Leverage ($ in thousands).   View source version on businesswire.com: https://www.businesswire.com/news/home/20250303879127/en/ Contacts Mortgage Investment Trust, Inc. Investor Relations (212) 692-2110 [email protected]

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