Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the “Company”), a leader in expanding access to housing for homebuyers and renters, today announced that its Board of Directors (the “Board”) has declared third quarter 2024 common and preferred stock dividends.

Common Stock Dividend

The Board has authorized the declaration of a third quarter 2024 regular common stock dividend of $0.17 per share, a 6.25% increase from the second quarter of 2024. This marks the Company's 101^st consecutive quarterly common dividend. The third quarter 2024 common stock dividend is payable on September 30, 2024 to stockholders of record on September 23, 2024.

“We are pleased to announce an increase in our common dividend, reflecting our continued confidence in the strength of our balance sheet and our outlook heading into a more accommodative interest rate environment,” said Christopher Abate, Chief Executive Officer of Redwood. “This increase underscores the progress we’ve made towards the goals laid out at our March 2024 Investor Day and reaffirms our commitment to generating long-term value for our shareholders. Moving forward, we anticipate the evolving macro environment to facilitate further scale in our mortgage banking operations and unlock the embedded value in our investment portfolio, driving earnings and book value expansion through time.”

Preferred Stock Dividend

In accordance with the terms of Redwood’s 10.00% Series A Fixed-Rate Reset Cumulative Redeemable Preferred Stock (“Series A”), the Board authorized the declaration of a Series A dividend for the third quarter of 2024 of $0.625 per share. Dividends for the Series A are payable on October 15, 2024 to stockholders of record on October 1, 2024.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our expectations regarding the impact of the interest rate and macroeconomic environment on the scale of our mortgage banking operations and embedded value in our investment portfolio, and expectations regarding earnings and book value expansion. Forward-looking statements involve numerous risks and uncertainties. Redwood's actual results may differ from Redwood's beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as “anticipate,” “estimate,” “will,” “should,” “expect,” “believe,” “intend,” “seek,” “plan” 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 our Annual Report on Form 10-K for the year ended December 31, 2023 under the caption “Risk Factors”. Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the Securities and Exchange Commission, including reports on Forms 10-Q and 8-K. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

About Redwood

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, and our publicly traded shares. We operate our business in three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking and Investment Portfolio. Through RWT Horizons^®, our venture investing initiative, we invest in early-stage companies that have a direct nexus to our operating platforms. Additionally, through Aspire, our home equity investment (“HEI”) platform, we directly originate HEI to homeowners. 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 ("REIT") for tax purposes. For more information about Redwood, please visit our website at www.redwoodtrust.com or connect with us on LinkedIn.

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