Investor Presentaiton

SBC Market SBC loans are 1st liens on either investor or owner occupied commercial real estate assets ✓ Typically, property appraised values of <$10M and <50,000 square feet $4.9T OF COMMERCIAL MORTGAGE DEBT OUTSTANDING SMALL-BALANCE LOAN ORIGINATION TREND SUB $5 Million Small Balance 15% Large Balance 85% 350 300 250 200 150 100 50 $ Billions READY CAPITAL. 0.0 2016 2017 2018 2019 2020 Source: Boxwood Means, LLC 7 3.0 10-Yr. Treasury Rate (%)

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