NEW YORK--(BUSINESS WIRE)--August 10, 2026--
TPG Mortgage Investment Trust, Inc. ("MITT," "we," the "Company," or "our") $(MITT)$ today reported financial results for the quarter ended June 30, 2026.
MANAGEMENT REMARKS
"Despite a challenging interest rate environment, our disciplined leverage profile, consistent capital rotation into highreturning residential credit strategies, and strong momentum at Arc Home produced EAD of $0.24 per share for the second quarter, fully covering our dividend while increasing our book value to $10.00 per share," said T.J. Durkin, Chief Executive Officer and President. "Looking ahead, we believe our definitive agreement to acquire Cherry Hill Mortgage Investment Corporation will significantly enhance our scale and long-term earnings power by expanding our equity capital base, driving meaningful cost synergies, and incorporating complementary, durable cash flows. We are confident in our positioning and the compelling opportunities ahead to deliver for our shareholders."
SECOND QUARTER FINANCIAL HIGHLIGHTS
-- $10.00 Book Value per share as of June 30, 2026(1)
-- Quarterly economic return on equity of 2.7%(2)
-- $0.29 of Net Income/(Loss) Available to Common Stockholders per diluted
common share(3)
-- $0.24 of Earnings Available for Distribution ("EAD") per diluted common
share(3),(4)
-- $0.24 dividend per common share declared in the second quarter of 2026
INVESTING AND FINANCING HIGHLIGHTS
-- $7.7 billion Investment Portfolio as of June 30, 2026(5)
-- 0.7% Net Interest Margin, which includes a 0.02% benefit from
the net interest component of our interest rate swaps(6)
-- $46.4 million investment in Arc Home as of June 30, 2026 determined
using a valuation multiple of 1.05x book value(7)
-- $7.3 billion of financing as of June 30, 2026(5)
-- $6.3 billion of non-recourse and $1.0 billion of recourse
financing
-- 13.4x GAAP Leverage Ratio and 1.8x Economic Leverage Ratio(8)
-- $111.6 million of total liquidity as of June 30, 2026(9)
DIVIDENDS
-- On June 16, 2026, declared a second quarter dividend of $0.24 per
common share
-- On July 30, 2026, declared quarterly cash dividends of $0.51563, $0.50,
and $0.664786 per share on our Series A, Series B, and Series C Preferred
Stock, respectively, payable on September 17, 2026 to preferred
shareholders of record on August 31, 2026
STOCKHOLDER CALL
The Company invites stockholders, prospective stockholders, and analysts to participate in MITT's second quarter earnings conference call on Monday, August 10, 2026 at 8:30 a.m. Eastern Time.
To participate in the call by telephone, please dial (800) 347-6865 at least five minutes prior to the start time. International callers should dial (203) 518-9757. The Conference ID is MITTQ226. To listen to the live webcast of the conference call, please go to https://event.on24.com/wcc/r/5416544/7D08A1214A9046837D90BDB16266BB09 and register using the same Conference ID.
The Company issued an earnings presentation detailing its second quarter 2026 financial results, which is available on the Company's website, www.mitt.tpg.com, under "Presentations" in the "News & Presentations" section. Additional information regarding the proposed acquisition by the Company of Cherry Hill Mortgage Investment Corporation by merger can be found in the joint press release issued today and in the investor presentation relating to the proposed acquisition, both of which are available on MITT's website at www.mitt.tpg.com. The investor presentation is also being furnished by MITT in a Current Report on Form 8-K filed with the SEC on the date hereof.
For those unable to listen to the live call, an audio replay will be available on August 10, 2026 through 9:00 a.m. Eastern Time on September 10, 2026. To access the replay, please go to the Company's website at www.mitt.tpg.com.
ABOUT TPG MORTGAGE INVESTMENT TRUST, INC.
TPG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. The Company is externally managed and advised by AG REIT Management, LLC, an affiliate of TPG Inc. $(TPG)$.
Additional information can be found on the Company's website at www.mitt.tpg.com.
Important Additional Information and Where to Find It
In connection with MITT's proposed acquisition of Cherry Hill Mortgage Investment Corporation ("CHMI") by merger ("Merger"), MITT expects to file with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 (the "Registration Statement") that will include a prospectus of MITT and a joint proxy statement of MITT and CHMI (the "joint proxy statement/prospectus"). The joint proxy statement/prospectus will contain important information about MITT, CHMI, the proposed Merger and related matters. MITT and CHMI also expect to file with the SEC other documents regarding the Merger. The Merger will be submitted to the stockholders of MITT and CHMI for their consideration. The definitive joint proxy statement/prospectus will be sent to the stockholders of MITT and CHMI, and will contain important information about MITT, CHMI, the proposed Merger and related matters. This communication is not a substitute for any proxy statement, registration statement, tender or exchange offer statement, prospectus or other document MITT or CHMI may file with the SEC in connection with the proposed Merger and related matters. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE RELATED JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS FILED BY MITT AND CHMI WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MITT, CHMI AND THE PROPOSED MERGER. Investors and security holders may obtain copies of these documents free of charge (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by MITT with the SEC are also available free of charge on MITT's website at www.agmit.com. Copies of the documents filed by CHMI with the SEC are also available free of charge on CHMI's website at www.chmireit.com.
Participants in the Solicitation Relating to the Merger
MITT, CHMI and certain of their respective directors and executive officers and certain other affiliates of MITT and CHMI may be deemed to be participants in the solicitation of proxies from the common stockholders of CHMI and MITT in respect of the proposed Merger. Information regarding CHMI and its directors and executive officers and their ownership of common stock of CHMI can be found in CHMI's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 5, 2026, and in its definitive proxy statement relating to its 2026 annual meeting of stockholders, filed with the SEC on April 21, 2026. Information regarding MITT and its directors and executive officers and their ownership of common stock of MITT can be found in MITT's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, and in its definitive proxy statement relating to its 2026 annual meeting of stockholders, filed with the SEC on March 16, 2026. Additional information regarding the interests of such participants in the Merger will be included in the joint proxy statement/prospectus and other relevant documents relating to the proposed Merger when they are filed with the SEC. These documents are available free of charge on the SEC's website and from MITT or CHMI, as applicable, using the sources indicated above.
No Offer or Solicitation
This communication and the information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act"). This communication may be deemed to be solicitation material in respect of the proposed Merger.
FORWARD LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Words such as "expects," "endeavor," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "should," "may," "projects," "could," "estimates," "continue" or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements are based on our beliefs, assumptions and expectations of our future operations, business strategies, performance, financial condition, liquidity and prospects, taking into account information currently available to us, and are not guarantees of future performance. Forward-looking statements regarding the Company include, but are not limited to, the Company's leverage profile, the Company's ability to consistently rotate capital into higher-returning residential investments, whether momentum at Arc Home
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