Investor Presentaiton
Prudent and Proactive Balance Sheet Management
GPMT MAINTAINS A CONSERVATIVE FINANCIAL POLICY
✓ Generally, seek to match fund assets and liabilities to minimize interest-rate risk and duration
✓ Proven access to diverse sources of public and private equity and debt capital at the corporate and asset level
✓ Emphasis on liability management with meaningful proportion of non-recourse and non-mark-to-market
borrowings
✓ Aim to maintain ample liquidity across market cycles; approximately $185 million of cash*
✓ Active monitoring of various covenants and leverage ratios when making capital and funding decisions;
Target total leverage ratio of 3.0x-3.5x
✓ In response to the capital markets, macroeconomic and real estate sector challenges caused by the rapid
increases in interest rates and ongoing impacts of the pandemic, GPMT management has been actively
managing its balance sheet and improving liquidity position through several prudent measures including
reducing leverage, refinancing legacy de-levered funding vehicles to release trapped capital, and establishing
new financing facilities designed to fund both performing and non-performing loans on a non-mark-to-market
basis, among others.
As of December 31, 2023.
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