Claros Mortgage Trust (CMTG) Investor presentation summary

Financial performance and key metrics

• Reported a GAAP net loss of $54.3 million ($0.39 per share) and a distributable loss of $75.2 million ($0.52 per share) for Q1 2026, with a book value of $10.33 per share at quarter-end.

• Provision for CECL reserves was $31.4 million for the quarter, with total CECL reserves at $398.9 million (11.4% of UPB).

• Net debt/equity ratio decreased to 1.7x and total leverage ratio to 2.2x, reflecting deleveraging and reduced financing.

• Total liquidity at quarter-end was $132 million, including $117 million in cash; liquidity declined to $116 million by May 5, 2026.

• REO assets generated a distributable loss of $0.04 per share, mainly due to seasonality in the hotel portfolio.

Portfolio composition and activity

• Loan portfolio at $3.2 billion carrying value, with 96% floating-rate and 96% senior loans; 28 loans outstanding at quarter-end.

• Watchlist loans totaled $1.4 billion (13 loans), a 15% decline from year-end; risk rated 5 loans had $950 million carrying value after reserves.

• Five watchlist loans totaling $460.4 million resolved year-to-date, including foreclosures, sales, and assignments.

• Multifamily loans represent the largest collateral type (44% of carrying value), with significant exposure in the West and Northeast regions.

• Subsequent to quarter-end, a binding agreement was reached to sell a multifamily REO asset for $48 million.

Capitalization, financing, and liquidity

• Closed a new $500 million secured term loan maturing in 2030, using proceeds to retire a prior term loan.

• Total financing capacity was $4.4 billion, with $2.7 billion in financing UPB and $1.7 billion unused capacity at quarter-end.

• Net financings outstanding decreased by $489 million, including $142 million in deleveraging payments.

• Unencumbered assets totaled $538 million, including $363 million in loan UPB and $175 million in REO carrying value.

• Net unfunded loan commitments dropped to $5 million, reflecting reduced new lending activity.