ARMOUR Residential REIT (ARR) investor relations material

Executive summary

• Q3 GAAP net loss was $323.7M; net loss attributable to common stockholders was $327.1M, or $2.26 per share. Distributable Earnings available to common stockholders were $102.3M, or $0.71 per share.

• Total economic return was -12.9%; book value per common share fell to $14.55 from $17.53 in Q2, including $0.72 per share of quarterly dividends.

• Net interest income rose to $83.7M from $38.5M in Q3 2025, while large unrealized securities losses drove the GAAP loss.

Financial highlights

• Q3 interest income was $274.3M and interest expense was $190.6M; net interest income was $83.7M.

• Distributable Earnings were $105.6M before preferred dividends and $102.3M available to common stockholders; per-share earnings were $0.71.

• Q3 other loss was $391.0M, including a $1.165B Agency securities trading loss and $18.2M Treasury loss, partly offset by $792.4M derivative gains.

• Common dividends declared were $0.72 per share for Q3; $0.24 per share was declared for October and November payments.

Outlook and guidance

• Management remained constructive on the MBS market despite late-quarter volatility and wider spreads; no formal forward guidance was provided.

• Distributable Earnings were expected to be in the range of the dividend for the coming quarter; future dividends depend on results, financial position, REIT requirements and market conditions.

• Liquidity and capital resources were viewed as sufficient for additional investments, repo repayments and required REIT distributions; priorities included liquidity, systematic hedging and opportunistic capital deployment.