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This presentation contains statements that constitute \"forward-looking statements,\" as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. 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These have been derived from third party sources and have not been independently verified by the Company or its affiliates. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 07:08:48.723+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "506f5ecd-7b8d-4882-b0c9-4f2c58305b88", "parentComponentId": null }, { "bbox": { "h": 0.09, "w": 0.89, "x": 0.055, "y": 0.239 }, "kind": "paragraph", "text": "These materials and any presentation of which they form a part are not intended as an offer to sell, or the solicitation of an offer to purchase, any security, the offer and/or sale of which can only be made by definitive offering documentation. Any offer or solicitation with respect to any securities that may be issued by Ready Capital Corporation (\"Ready Capital,\" \"RC,\" or the \"Company\") will be made only be means of definitive offering memoranda or prospectus, which will be provided to prospective investors and will contain material information that is not set forth herein, including risk factors relating to any such investment.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 07:08:48.723+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8f2f4fb2-8f31-4f05-8bd5-8b1839a9b97c", "parentComponentId": null }, { "bbox": { "h": 0.07, "w": 0.89, "x": 0.055, "y": 0.42 }, "kind": "paragraph", "text": "There is no guarantee that any of the estimates, targets or projections illustrated in these materials and any presentation of which they form a part will be achieved. Any references herein to any of the Company's past or present investments or its past or present performance, have been provided for illustrative purposes only. It should not be assumed that these investments were or will be profitable or that any future investments by the Company will be profitable or will equal the performance of these investments.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 07:08:48.723+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a57300da-1004-4015-8033-ecee51643282", "parentComponentId": null }, { "bbox": { "h": 0.07, "w": 0.89, "x": 0.055, "y": 0.339 }, "kind": "paragraph", "text": "Neither the Company nor any of its representatives or affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and Company and its representatives disclaim all liability to the Recipient relating to, or resulting from, the use of this information. 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These non-GAAP financial measures should be considered only as supplemental to, and not as superior to, financial measures in accordance with GAAP. 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ownership license, Enabled CRE-secured lending to investors and small businesses, Provided access to public markets, Created a LMM commercial real estate-focused public specialty finance company, Accelerated growth in LMM commercial real estate lending, Expanded capital base to over $750mm², Increased efficiency and product offerings, Expanded platform to small businesses and improved lending platform efficiency, Increased scale and liquidity, Enabled efficiencies to support growth into a diversified, industry-leading real estate finance company, Increased diversification and growth, Expanded capabilities and demonstrated commitment to affordable housing, Increased scale and diversification, Expanded capital base to over $1.8bn2-3 and expanding platform into construction finance, Synergistic transaction that enhances scale, liquidity, and capabilities, Expanded capital base to $2.7bn²", "attrs": {}, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": 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"kind": "list", "text": "Post-closing disbursements managed by dedicated portfolio management analysts and servicers\nEach loan has specific disbursement conditions that must be met prior to releasing funds\nAll funding's are carefully reviewed to ensure that the request is in-line with loan documents and approval", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 07:08:59.753+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2bd877a7-950c-4be4-b23c-a96a7edec837", "parentComponentId": null }, { "bbox": { "h": 0.1333, "w": 0.4167, "x": 0.0717, "y": 0.5958 }, "kind": "list", "text": "Flexibility to tailor loan modifications for prudent sponsors to match evolving business plans so long as such modified loan is one we'd make today\nAbility to obtain fresh sponsor equity injection when necessary to ensure commitment to projects, etc.\nEncourage transparency and communication of lessons learned internally to maintain and foster strong credit culture", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 07:08:59.753+00", "model": 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However, because Distributable Earnings is an incomplete measure of the Company's financial performance and involves differences from net income\ncomputed in accordance with US GAAP, it should be considered along with, but not as an alternative to, the Company's net income computed in accordance with US GAAP as a measure of the Company's financial\nperformance. In addition, because not all companies use identical calculations, the Company's presentation of Distributable Earnings may not be comparable to other similarly-titled measures of other companies.\nWe calculate Distributable earnings as GAAP net income (loss) excluding the following:\ni) any unrealized gains or losses on certain MBS not retained by us as part of our loan origination businesses\nii) any realized gains or losses on sales of certain MBS\niii) any unrealized gains or losses on Residential MSRs\niv) any unrealized change in current expected credit loss reserve\nv) any unrealized gains or losses on de-designated cash flow hedges\nvi) any non-cash compensation expense related to stock-based incentive plan\nvii) one-time non-recurring gains or losses, such as gains or losses on discontinued operations, bargain purchase gains, or merger related expenses\nIn calculating Distributable Earnings, Net Income (in accordance with US GAAP) is adjusted to exclude unrealized gains and losses on MBS acquired by the Company in the secondary market but is not adjusted to exclude\nunrealized gains and losses on MBS retained by Ready Capital as part of its loan origination businesses, where the Company transfers originated loans into an MBS securitization and the Company retains an interest in the\nsecuritization. In calculating Distributable Earnings, the Company does not adjust Net Income (in accordance with US GAAP) to take into account unrealized gains and losses on MBS retained by us as part of the loan\norigination businesses because the unrealized gains and losses that are generated in the loan origination and securitization process are considered to be a fundamental part of this business and an indicator of the ongoing\nperformance and credit quality of the Company's historical loan originations. In calculating Distributable Earnings, Net Income (in accordance with US GAAP) is adjusted to exclude realized gains and losses on certain MBS\nsecurities considered to be non-distributable. Certain MBS positions are considered to be non-distributable due to a variety of reasons which may include collateral type, duration, and size. In 2016, the Company liquidated the\nmajority of its MBS portfolio from distributable earnings to fund recurring operating segments.\nIn addition, in calculating Distributable Earnings, Net Income (in accordance with US GAAP) is adjusted to exclude unrealized gains or losses on residential MSRs, held at fair value. The Company treats its commercial MSRs\nand residential MSRs as two separate classes based on the nature of the underlying mortgages and the treatment of these assets as two separate pools for risk management purposes. Servicing rights relating to the\nCompany's small business commercial business are accounted for under ASC 860, Transfer and Servicing, while the Company's residential MSRs are accounted for under the fair value option under ASC 825, Financial\nInstruments. In calculating Distributable Earnings, the Company does not exclude realized gains or losses on either commercial MSRs or residential MSRs, held at fair value, as servicing income is a fundamental part of\nReady Capital's business and is an indicator of the ongoing performance.\nTo qualify as a REIT, the Company must distribute to its stockholders each calendar year at least 90% of its REIT taxable income (including certain items of non-cash income), determined without regard to the deduction for\ndividends paid and excluding net capital gain. There are certain items, including net income generated from the creation of MSRs, that are included in distributable earnings but are not included in the calculation of the current\nyear's taxable income. 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instruments 20,813 (141) 2,121 22,793\nServicing income, net 5,262 11,130 36,719 53,111\nIncome on purchased future receivables, net 1,530 1,530\nGain on bargain purchase 215,032 215,032\nIncome on unconsolidated joint ventures 1,246 1,246\nOther income 40,507 34,310 76 1,645 76,538\nTotal non-interest income (loss) $90,899 $77,139 $65,577 $216,677 $450,292\nNon-interest expense\nEmployee compensation and benefits ($29,904) ($39,878) ($20,121) ($7,041) ($96,944)\nAllocated employee compensation and benefits from related party (881) (9,946) (10,827)\nVariable expenses on residential mortgage banking activities (14,982) (14,982)\nProfessional fees (5,282) (8,711) (613) (9,828) (24,434)\nManagement fees-related party (23,294) (23,294)\nIncentive fees-related party (3,947) (3,947)\nLoan servicing expense (39,102) (758) (9,159) (49,019)\nTransaction related expenses (22,215) (22,215)\nOther operating expenses (21,941) (18,196) (6,417) (6,254) (52,808)\nTotal non-interest expense ($97,110) 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dividend of $0.30 per share of common stock and Operating Partnership unit (\"OP unit\") with respect to the quarter ending December 31, 2023\nThis dividend is payable on January 31, 2024 to stockholders of record as of the close of business on December 29, 2023", "attrs": {}, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 07:09:06.061+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a23fda23-c1a1-445e-b040-0b37a9264353", "parentComponentId": null }, { "bbox": { "h": 0.09, "w": 0.909, "x": 0.045, "y": 0.857 }, "kind": "source-note", "text": "Note: The results set forth above are still preliminary and subject to our detailed period-end closing procedures. Our consolidated financial statements as of, and for the year ended December 31, 2023 are not yet available. Accordingly, the information presented above reflects our preliminary estimates subject to the completion of our financial closing procedures and any adjustments that may result from the completion of the annual review of our consolidated financial statements. As a result, these preliminary estimates may differ from the actual results that will be reflected in our consolidated financial statements for the period when they are completed and publicly disclosed. These preliminary estimates may change, and those changes may be material. Our expectations with respect to the unaudited results for the periods discussed above are based on management estimates. 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