Investor Presentaiton

DIVERSIFIED & GRANULAR SENIOR SECURED LOAN PORTFOLIO Disciplined lending approach with middle-market focus and national footprint 1 Loan Type Loan Size $25mm- $50mm: 24% Below Balance Sheet First O Mortgage Loans $2,709mm Conduit First Mortgage Loans $38mm Other Commercial Real Estate-Related Loans $102mm $25mm: $2.8 billion granular, diversified loan portfolio Geography 40% Above $100mm: 13% $76mm- $100mm: 3% $51mm- $75mm: 20% Mid-market by choice - $22 million avg. loan size Property Type Multifamily LC LADDER CAPITAL Other Key Loan Portfolio Metrics Over 45% of loans on balance sheet comprised of post-COVID originations ✓ 96% senior secured first mortgage loans ✓ 67% weighted-average LTV on total loan portfolio ~2-year weighted-average duration on balance sheet first mortgage loans ✓ Focus on lightly-transitional loans ✓ 100% of floating-rate loans have interest rate floors ✓ 100% interest collections year-to-date Northeast South 29% 32% Retail 9% Various 4% Southwest 8% West 12% Midwest 15% Hotel 11% 16% Office 34% Mixed Other 5% Use 16% Industrial MHP 5% 4% Note: As of 09/30/2021 1. Amounts in these charts shown before $33.6 million allowance for loan losses 2. Includes mezzanine and subordinate loans 00 8

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