Investor Presentaiton
DIVERSE AND ROBUST CAPITAL STRUCTURE
WITH MODEST LEVERAGE
09/30/2021 Capitalization Summary ($mm)
Loan Repo Facilities
$147
(3%)
Securities
Repo Facilities
$290
(5%)
FHLB
Financing
$263
(5%)
LC
LADDER
CAPITAL
Book Equity
$1,510
(29%)
$5.3B
Total
Capitalization
Non-Recourse
Mortgage
Financing
$723
Unsecured
(14%)
Corporate Bonds &
Corporate Revolver
$1,630
(31%)
Non-Recourse
CLO Financing
$558
(11%)
Non-Recourse
Secured Facility
$154
(3%)
Adjusted Debt/Equity (Adjusted Leverage Ratio):
Net Adjusted Debt¹ (excluding Cash)/Equity Ratio:
2.1x
1.6x
Net Adjusted Debt (excluding Cash) & Excluding Securities²/Equity Ratio:
Non-Recourse, Non-Mark-to-Market & Unsecured Debt³ + Book Equity:
Unsecured Debt % of Total Debt Outstanding:
1.1x
4
87%
43%
1. Excludes total cash on balance sheet of $844 million
2. Excludes total cash on balance sheet of $844 million and securities of $725 million
3. Non-mark-to-market financing includes financing that is subject to credit events only
4. Represents percentage of total capitalization
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