Cherry Hill Mortgage Investment Corporation (CHMI) investor relations material

Executive summary

• Q3 net loss was $1.5 million; loss attributable to common stockholders was $3.9 million, or $0.11 per diluted share, as RMBS valuation losses outweighed gains on derivatives and servicing assets.

• EAD was $7.8 million, or $0.14 per diluted share; EAD attributable to common stockholders after preferred dividends was $5.2 million.

• Common book value was $2.73 per share and unrestricted cash was $41.2 million at September 30, 2026.

• A proposed merger with TPG Mortgage Investment Trust is targeted to close in Q4 2026, subject to approvals and customary closing conditions.

Financial highlights

• Q3 net interest income was $4.5 million versus $3.3 million in Q3 2025; net servicing income was $7.5 million versus $8.5 million.

• Q3 included a $51.8 million unrealized RMBS loss, a $32.1 million unrealized derivative gain and a $4.1 million unrealized servicing-asset gain; net realized derivative gain was $10.6 million.

• 9M 2026 net income was $2.8 million versus a $0.9 million loss in 9M 2025; diluted EPS was -$0.12 versus -$0.25.

• 9M net interest income rose to $13.7 million from $8.1 million; interest expense fell $6.1 million to $31.1 million, primarily on lower financing rates and notes payable.

• 9M EAD increased $4.1 million to $23.6 million, or $0.44 per average common share, mainly from lower borrowing costs and higher TBA dollar-roll income.

Outlook and guidance

• Proposed mergers are targeted to close in Q4 2026, subject to common stockholder approvals and satisfaction of customary closing conditions.

• Cash on hand and operating cash flows are expected to cover anticipated liquidity needs over the next 12 months, including financing, potential margin calls and operating expenses.

• Quarterly common dividends are capped at $0.10 per share while the mergers are pending; future distributions remain subject to board authorization and available cash.

• The transaction may not close; risks include competing proposals, transaction costs, litigation and disruption to business relationships or operations.