Granite Point Mortgage Trust (GPMT) Investor presentation summary

Company overview and strategy

• Internally managed REIT focused on originating and investing in floating-rate, first mortgage loans secured by institutional-quality transitional properties in the U.S.

• Investment objective is capital preservation and generating attractive risk-adjusted returns, primarily through dividends from loan portfolio income.

• $2.5 billion nationwide investment portfolio diversified by property type, region, and sponsor; $2.3 billion outstanding principal.

• Senior investment team with decades of CRE lending experience and strong industry relationships.

• Conservative balance sheet with moderate leverage and $0.7 billion in equity capital.

Portfolio composition and performance

• Portfolio consists of 62 loan investments, 99% senior loans, 97% floating rate, with an average UPB of $37.9 million.

• Realized loan portfolio yield of 7.0%, weighted average LTV of 63.9%, and 56% non-mark-to-market borrowings.

• Diversified across office (45%), multifamily (29.8%), retail (10.4%), hotel (6.2%), industrial (5.5%), and other (3.1%).

• Regional diversification: Northeast (23.9%), Southeast (23.4%), Southwest (22.3%), West (14.3%), Midwest (16.1%).

• Portfolio is constructed loan-by-loan, emphasizing diversification and downside protection.

Investment process and risk management

• Rigorous, highly selective origination process: only 2-3% of sourced opportunities are closed.

• Intensive credit underwriting focused on property, market, sponsor, and business plan.

• Origination team remains responsible for asset management throughout the loan lifecycle.

• Five-point risk rating system and proactive monitoring to manage credit risk.

• Asset management provides early warning for credit issues and supports evolving borrower business plans.