Starwood Property Trust, Inc.

With $5.0 billion in unencumbered assets, over $1.4 billion in unrealized property gains, no near-term debt maturities, and a diversified business model, we have the tools and financial strength to drive disciplined growth and capture the compelling opportunities ahead.

SEC original ↗Starwood Property Trust, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

As of June 30, 2025, the Company has successfully deployed $108 billion of capital since inception and manages a portfolio of over $27 billion across debt and equity investments.

SEC original ↗Starwood Property Trust, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Starwood Property Trust s investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets.

SEC original ↗Starwood Property Trust, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

We have four reportable business segments as of June 30, 2026 and we refer to the investments within these segments as our target assets: Real estate commercial and residential lending (the Commercial and Residential Lending Segment ) engages primarily in originating, acquiring, financing and managing commercial first mortgages, non-agency residential mortgages ( residential loans ), subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities ( CMBS ), residential mortgage-backed securities ( RMBS ) and other real estate and real estate-related debt investments in the U.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Infrastructure lending (the Infrastructure Lending Segment ) engages primarily in originating, acquiring, financing and managing infrastructure debt investments.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026

To assess whether we have the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, we consider all of our economic interests, including debt and equity investments, servicing fees and other arrangements deemed to be variable interests in the VIE.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026

The recent repricing of our term loans to best-in-class levels reflects the market s confidence in our strategy and credit profile.

SEC original ↗Starwood Property Trust, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Starwood Property Trust (NYSE STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors.

SEC original ↗Starwood Property Trust, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

As market conditions change over time, we may adjust our strategy to take advantage of changes in interest rates and credit spreads as well as economic and credit conditions.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Factors considered in assessing significance include: the design of the VIE, including its capitalization structure; subordination of interests; payment priority; relative share of interests held across various classes within the VIE s capital structure; and the reasons why the interests are held by us.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Investment Securities We designate our debt investment securities as held-to-maturity ( HTM ), available-for-sale ( AFS ), or trading depending on our investment strategy and ability to hold such securities to maturity.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Factors that could cause actual results to differ materially from the Company s expectations include, but are not limited to, completion of pending investments and financings, continued ability to acquire additional investments, competition within the finance and real estate industries, availability of financing, and other risks detailed under the heading Risk Factors in the Company s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as well as other risks and uncertainties set forth from time to time in the Company s reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SEC original ↗Starwood Property Trust, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

2 In light of these risks and uncertainties, there can be no assurances that the results referred to in the forward-looking statements contained herein will in fact occur.

SEC original ↗Starwood Property Trust, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

In light of these risks and uncertainties, there can be no assurances that the results referred to in the forward-looking statements contained in this Quarterly Report on Form 10-Q will in fact occur.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Legal Proceedings 110 Item 1A.

SEC original ↗Starwood Property Trust, Inc. — 10-Q Quarterly report10-QAug 6, 2026