Granite Point Mortgage Trust (GPMT) investor relations material

Executive summary

• Board initiated a review of alternatives to enhance stockholder value on Sept. 23; no formal timetable or assurance of a transaction, and updates are not planned until the review concludes or earlier disclosure is appropriate.

• Q3 priorities remained loan repayments and resolutions, plus REO exits, to reduce higher-cost debt and unlock capital.

• Higher rates and capital-markets uncertainty pressured refinancing and property sales, increasing credit reserves; management expects near-term resolutions to offset a significant amount of reserves.

Financial highlights

• Q3 GAAP net loss attributable to common stockholders was $60.3M, or $12.50 per basic share; included a $45.4M credit-loss provision and $2.6M REO impairment.

• Distributable loss was $33.7M, or $6.99 per share; before realized gains and losses, it was $8.4M, or $1.74 per share.

• Q3 net interest income was $0.4M, versus $10.3M in Q3 2025; interest income was $18.4M and interest expense was $18.0M.

• Q3 common dividend was $0.10 per share, down from $0.50 in Q2; Series A preferred dividend was $0.4375 per share.

Outlook and guidance

• Multiple near-term loan resolutions are expected to offset significant reserves; some non-accrual loans could return to accrual in Q4 or early 2027 if processes resume or loans de-risk.

• Tempe hotel and retail resolution may occur by year-end; San Diego office resolution is anticipated in H1 2027, and Minneapolis office transfer to REO is expected before year-end.

• Miami Beach office REO was under contract with closing targeted for year-end 2026; Maynard REO strategy is to improve performance and evaluate an eventual sale.

• Through Nov. 2, funded $2.4M and received an $11.5M partial paydown on a California office loan; unrestricted cash was $38.8M.

• No originations restart or longer-term guidance is planned while the board’s alternatives review continues.