Investor Presentaiton
WELL POSITIONED GOING FORWARD
LC
LADDER
CAPITAL
Strong Originations &
Investment Pipeline with
Significant Dry Powder
✓
✓
Originated $1.6 billion of first mortgage loans during the nine months ended 09/30/2021, and 2021 is on
track to produce the highest annual volume of balance sheet loan originations in Ladder's history
Over $1.2 billion of additional loans in pipeline under application, with $592 million closed in Q4 2021¹
Over $1.0 billion of liquidity, including $758 million of unrestricted cash on balance sheet
Strong Asset Base &
Credit Performance
Full Shareholder
Alignment
Best-in-Class
Franchise & Platform
Over 45% of current loan portfolio comprised of post-COVID loan originations
100% collections of interest & rental income from CRE loan & equity portfolio (year-to-date weighted avg.)
✓ Proven credit track record with <0.1% losses on all investments originated since 2008 inception
✓ Internally-managed - distinguishes Ladder from competitors
Management and directors own over 10% of the Company (~$150 million² equity investment)
Personnel compensated based on profitability, with a significant portion in stock - all managers' 2020
bonuses paid 100% in stock
Continuity of senior management - majority of team has worked together for over 25 years
Highly experienced executive team - managers average over 10 years at Ladder and over 20 years of
industry experience
✓ Comprehensive in-house team includes 17 originators, 15 underwriters and 9 experienced attorneys
✓ $1.6 billion of unsecured corporate bonds
Durable, Conservative
Capital Structure with
Modest Leverage
✓
81% non-mark-to-market financing
✓ 2.1x adjusted leverage ratio; 1.6x excluding cash;
1.1x excluding cash and I.G.-rated securities
Large, senior secured unencumbered asset pool
Note: All amounts as of and through 09/30/2021, unless noted otherwise
1. Estimated as of 11/30/2021
2. Based on $11.39 LADR closing price on 11/30/2021
15%
43%
81%
Unsecured +
Non-Recourse
Financing
19%
4%
19%
Financing Mix
Unsecured Bonds
Non-Recourse CLO Debt
Non-Recourse Mortgage Debt
Non-Recourse Secured Facility
Repo & Other Secured Debt
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