Investor Presentaiton

Capital Structure HISTORICAL CAPITAL STRUCTURE Total Debt & Eqty ($M) Funding Mix LIQUIDITY UPDATE READY CAPITAL. $4,648 $4,502 $4,553 $7,312 $8,213 • Current cash and available liquidity of $428 million 30% 28% 42% 46% 46% Closed $232 million acquired SBC loan securitization at a 79.8% advance rate and a weighted average cost of 1.6% Issued new Series E Cumulative Redeemable 6.50% Preferred Stock securities to redeem Series B 8.625% and Series D 7.625% Cumulative Preferred Stock As of June 30, 2021 44% 49% Corporate Financing 30% 27% 26% ($ in millions) Principal Balance Coupon YTM Convertible Notes $ 115.0 7.0% 7.0% Senior Secured Notes $ 180.0 7.5% 7.0% 7% 7% 7% 7% Baby Bonds $ 305.5 5.9% 5.9% 2% 3% 3% 1% 61 6% 1% Junior Subordinated Notes $ 36.3 2% 3% Series B Preferred Stock $ 48.0 3.3% 8.6% 8.6% 3.3% 17% 18% 18% 16% 13% Series C Convertible Prefer $ 8.4 6.3% 6.3% Series D Preferred Stock $ 50.3 7.6% 7.6% Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Series E Preferred Stock $ Total 115.0 6.5% 6.5% $ 858.4 6.6% 6.5% ■Securitized debt oblications ■Credit faciities and repurchase agreements ■Senior secured notes and Corporate debt ■Convertible senior notes ■Preferred Equity ■Common Stockholders Equity 31

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