Granite Point Mortgage Trust (GPMT) Investor presentation summary

Business model and strategy

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

• Emphasizes preservation of capital and attractive risk-adjusted returns, primarily through dividends from loan portfolio income.

• Maintains a $1.8 billion diversified investment portfolio across property types, regions, and sponsors, with a moderate leverage profile and $582 million in equity capital.

• Senior investment team has decades of experience and deep industry relationships, supporting a solution-driven, value-oriented approach.

• Focuses on direct origination, rigorous underwriting, and active asset management to ensure downside protection and portfolio quality.

Portfolio and credit profile

• Portfolio consists of 44 loan investments, 99% of which are senior loans and 97% floating rate, with an average UPB of $39.1 million.

• Weighted average stabilized LTV at origination is 65.0%, and realized loan portfolio yield is 7.5%.

• Diversified by property type: office (41.9%), multifamily (33.2%), retail (8.7%), industrial (7.2%), hotel (6.5%), and other (2.5%).

• Regional diversification includes Northeast (24.1%), Southeast (23.4%), Southwest (20.9%), Midwest (16.3%), and West (15.3%).

• Three loans are risk-rated “5” (highest risk), totaling $196.3 million in UPB, with specific CECL reserves of about 44%.

Financial performance and capitalization

• Q3 2025 GAAP net loss attributable to common stockholders was $(0.6) million, or $(0.01) per share.

• Distributable earnings (loss) for Q3 2025 were $(18.9) million, or $(0.40) per share; distributable earnings before realized gains/losses were $0.9 million, or $0.02 per share.

• Book value per common share at September 30, 2025, was $7.94.

• Total CECL reserve stood at $133.6 million, or 7.4% of total loan portfolio commitments.

• Maintains a well-balanced capital structure with $1.2 billion in total borrowings, total leverage ratio of 1.9x, and approximately $65.3 million in cash.