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Redwood Trust Launches Reopening of $50 Million of 7.75% Convertible Senior Notes Due 2027

MILL VALLEY, Calif.--(BUSINESS WIRE)-- Redwood Trust, Inc. (NYSE: RWT; 鈥淩edwood鈥� or the 鈥淐ompany鈥�) today announced that it plans to offer, subject to market and other conditions, $50 million aggregate principal amount of its 7.75% convertible senior notes due 2027 (the 鈥淣otes鈥�) in a direct placement registered under the Securities Act of 1933, as amended. The Notes will be issued as a reopening of, and will be part of the same series as, the 7.75% convertible senior notes due 2027 that the Company originally issued in June 2022 (the 鈥淚nitial Notes鈥�) and the 7.75% convertible senior notes due 2027 that the Company issued in October 2024 (the 鈥淚nitial Additional Notes鈥� and, together with the Initial Notes, the 鈥淓xisting Notes鈥�). Currently, $247,170,000 aggregate principal amount of Existing Notes are outstanding.

Redwood intends to use the net proceeds from this offering for general corporate purposes, which may include (i) funding of Redwood鈥檚 operating business and investment activity, which may include funding its residential and business purpose lending mortgage banking businesses, acquiring mortgage-backed securities for its investment portfolio, and funding strategic acquisitions and investments and/or (ii) the repayment of existing indebtedness, which may include the repurchase or repayment of a portion of the 5.75% exchangeable senior notes due 2025 issued by one of Redwood鈥檚 subsidiaries.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, nor will there be any sale of any such securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Redwood Trust

Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit where we provide liquidity to growing segments of the U.S. housing market not well served by government programs. We deliver customized housing credit investments to a diverse mix of investors, through our best-in-class securitization platforms, whole-loan distribution activities, joint ventures and our publicly traded shares. We operate through three core residential housing-focused operating platforms 鈥� Sequoia, Aspire, and CoreVest 鈥� alongside our complementary Redwood Investments portfolio which is primarily composed of assets we source through these platforms. In addition, through RWT Horizons庐, our venture investing initiative, we invest in early-stage companies that have a direct nexus to our operating platforms. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. Redwood Trust is internally managed and structured as a real estate investment trust (鈥淩EIT鈥�) for tax purposes.

CAUTIONARY STATEMENT: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, such as statements related to the placement of Notes and the expected use of the net proceeds. Forward-looking statements involve numerous risks and uncertainties. Redwood鈥檚 actual results may differ materially from those projected, and Redwood cautions investors not to place undue reliance on the forward-looking statements contained in this release. Forward-looking statements are not historical in nature and can be identified by words such as 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渆xpect,鈥� 鈥渂elieve,鈥� 鈥渋ntend,鈥� 鈥渟eek,鈥� 鈥減lan,鈥� and similar expressions or their negative forms, or by references to strategy, plans, or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in Redwood鈥檚 filings with the Securities and Exchange Commission. Redwood undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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Kaitlyn Mauritz

Head of Investor Relations

Phone: (866) 269-4976

Email: [email protected]

Source: Redwood Trust, Inc.