q225investorpresentation

I N V E S T O R P R E S E N T A T I O N P R O P R I E T A R Y & CO N F I D E N T I A L Q 2 | 2 0 2 5 FONT FONT FONT FONT FONT FONT

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . This presentation includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “goal” “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “would,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among other things, those described in our most recent Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under the caption “Risk Factors.” Factors that could cause actual results to differ include, but are not limited to: our ability to obtain funding on favorable terms and access the capital markets; our ability to achieve optimal levels of leverage and effectively manage our liquidity; changes in inflation, the yield curve, interest rates and mortgage prepayment rates; our ability to manage credit risk related to our investments and comply with the Risk Retention Rules; rates of default, delinquencies, forbearance, deferred payments or decreased recovery rates on our investments; the concentration of properties securing our securities and residential loans in a small number of geographic areas; our ability to execute on our business and investment strategy; our ability to determine accurately the fair market value of our assets; changes in our industry, the general economy or geopolitical conditions (such as the recent tensions in international trade); our ability to successfully integrate and realize the anticipated benefits of any acquisitions, including the HomeXpress Acquisition; our ability to operate our investment management and advisory services and manage any regulatory rules and conflicts of interest; the degree to which our hedging strategies may or may not be effective; our ability to effect our strategy to securitize residential mortgage loans; our ability to compete with competitors and source target assets at attractive prices; our ability to find and retain qualified executive officers and key personnel; the ability of servicers and other third parties to perform their services at a high level and comply with applicable law and expanding regulations; our dependence on information technology and its susceptibility to cyber-attacks; our ability to comply with extensive government regulation; the impact of and changes in governmental regulations, tax law and rates, accounting guidance, and similar matters; our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended; our ability to maintain our classification as a real estate investment trust for U.S. federal income tax purposes; the volatility of the market price and trading volume of our shares; ability to make distributions to our stockholders in the future; and delays and/or unforeseen events that could cause the HomeXpress Acquisition to be delayed or not consummated. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Chimera does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Additional information concerning these, and other risk factors is contained in Chimera’s most recent filings with the Securities and Exchange Commission (SEC). All subsequent written and oral forward-looking statements concerning Chimera or matters attributable to Chimera or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. This presentation may include industry and market data obtained through research, surveys, and studies conducted by third parties and industry publications. We have not independently verified any such market and industry data from third-party sources. This presentation is provided for discussion purposes only and may not be relied upon as legal or investment advice, nor is it intended to be inclusive of all the risks and uncertainties that should be considered. This presentation does not constitute an offer to purchase or sell any securities, nor shall it be construed to be indicative of the terms of an offer that the parties or their respective affiliates would accept. We use our website (www.chimerareit.com) as a channel of distribution of company information. The information we post on our website may be deemed material. Accordingly, investors should monitor our website, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about Chimera when you enroll your email address by visiting our website, then clicking on “News and Events" and selecting "Email Alerts" to complete the email notification form. Our website and any alerts are not incorporated into this document. All information in this presentation is as of June 30, 2025, unless stated otherwise. Readers are advised that the financial information in this presentation is based on company data available at the time of this presentation and, in certain circumstances, may not have been audited by the company’s independent auditors. Disclaimer 2

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . This presentation includes certain non-GAAP financial measures, including earnings available for distribution. We believe the non-GAAP financial measures are useful for management, investors, analysts, and other interested parties in evaluating our performance but should not be viewed in isolation and are not a substitute for financial measures computed in accordance with U.S. generally accepted accounting principles (“GAAP”). In addition, we may calculate our non-GAAP metrics, such as earnings available for distribution, differently than our peers making comparative analysis difficult. Non-GAAP Financial Measures 3

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 4 HYBRID INVESTMENT APPROACH ▪ Invests across the spectrum of mortgage products, including, residential loans, mortgage securities, and servicing rights. ▪ Team expertise and robust infrastructure enable a disciplined approach to residential credit investing. SCALED MORTGAGE CREDIT PLATFORM ▪ Risk management approach emphasizes asset-level credit risk management. ▪ Data management capabilities and proprietary technologies drive efficiencies in process and credit decisions. MORTGAGE ORIGINATION ▪ Entered into a definitive agreement to acquire HomeXpress Mortgage Corp(1) with expected closing in Q4 2025. THIRD-PARTY ASSET & INVESTMENT MANAGEMENT ▪ Bespoke solutions for third-party institutional investors seeking exposure to residential loans. ▪ Manager of private asset-backed credit funds on behalf of institutional allocators. KEY STATISTICS As of June 30, 2025 2007 89 $6.5B $14.9B $2.6B $25.4B(2) Year Founded Full-Time Professionals Dividends Declared Since Inception REIT Assets REIT Equity 3rd Party Managed Loans Chimera Investment Corp. We are a hybrid mortgage REIT delivering diversified investment solutions across the mortgage credit product spectrum. Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 5 Pursuing a Vision for Long-Term Shareholder Value We are a hybrid mortgage REIT delivering diversified investment solutions across the mortgage credit product spectrum. PERMANENT CAPITAL INVESTMENT PORTFOLIO ADVISORY SERVICES & THIRD-PARTY CAPITAL MORTGAGE ORIGINATION Liquid Agency MBS Credit RPL, NQM, RTL, Other MSR Cash flowing asset hedge Advisory Services Bespoke 3rd party loan solutions Private Funds Diversified portfolios Origination Fees Borrower paid loan fees Gain on Sale Capital market loan sales DIVIDEND DISTRIBUTIONS Maintenance of quarterly dividend payments ENTERPRISE VALUE OPPORTUNITIES Ability to retain & reinvest earnings into accretive growth initiatives INVESTMENT INCOME CAPITAL-LIGHT FEES GAIN ON SALE High-touch credit risk management support to permanent capital portfolio Platform to acquire & own MSRs & expand product capabilitiesManufacturing product for capital market investors, Advisory Services clients & Private Funds Capital investment in technology, growth, & strategic initiatives across platform Diverse Sources of Revenue & Synergistic Platform Capabilities

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 6 Market Summary | Q2 2025 Markets navigated a reversal of tariff policies, passage of the “Big Beautiful Bill”, draft regulatory capital relief, and overtures regarding firing of the Fed Chair. TREASURY YIELDS(1) 3/31/2025 6/30/2025 Q2 Change 2Y Treasury 3.88 3.72 -16 10Y Treasury 4.21 4.23 2 30Y Treasury 4.57 4.77 20 MORTGAGE RATES(1) 30Y FRM (Bankrate) (2) 6.83 6.80 -3 30Y Freddie PMMS 6.65 6.77 12 30Y FRM (MBA) 6.88 6.97 9 AGENCY SPREADS(1) FN CC 5/10 Tsy Spread 144 147 3 FN CC Treasury OAS 38 30 -8 FN CC Swap OAS 76 78 2 RMBS SPREADS(2) NQM – AAA 145 150 5 RPL AAA (A1) 135 140 5 RPL Unrated (A1) 195 210 15 CORPORATES(1) Inv Grade – Yield 5.15 4.99 -16 Inv Grade - Spread 94 83 -11 High Yield - Spread 347 290 -57 R A T E S ▪ Yield curve steepened +37 basis points across 2-years and 30-years. ▪ Yield curve dynamics reflect fiscal concerns along with reflation fears pressuring the long end. M O R T G A G E R A T E S ▪ Freddie Mac 30-year fluctuated within a 27-basis point range while ending Q2 12 bps wider. ▪ Persistence of higher mortgage rates continue to weigh on affordability and housing demand. A G E N C Y M B S ▪ Current coupon MBS widened 11 bps against a blend of 5- and 10-year swaps. ▪ Current coupon MBS widened 3 bps against a blend of 5- and 10-year Treasuries. S T R U C T U R E D P R O D U C T S ▪ Non-agency RMBS new issuance spreads widened in early April amidst volatility. ▪ Demand rebounded and spreads ended Q2 marginally wider. H O U S IN G ▪ June 2025 year-to-date, existing home sales were the lowest in 27 years other than 2009. ▪ Home prices rose just 2.25% year-over-year through May – lowest level since July 2023.(3) Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 7 EARNINGS & PERFORMANCE $0.39 EARNINGS AVAILABLE FOR DISTRIBUTION PER SHARE $0.37 DIVIDENDS PER SHARE $20.91 BOOK VALUE PER SHARE 0.5% ECONOMIC RETURN(1) LIQUIDITY $250M CASH $311M UNENCUMBERED ASSETS LEVERAGE RESIDENTIAL CREDIT REPO 4.5x TOTAL LEVERAGE 1.8x RECOURSE LEVERAGE $1.4B (57.9%) FLOATING RATE REPO(2) (PERCENTAGE OF TOTAL REPO) $1.4B (58.3%) NON-MARK-TO-MARKET REPO(3) (PERCENTAGE OF TOTAL REPO) Chimera | Q2 2025 Highlights Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 8 Chimera | Q2 2025 Highlights Announced definitive agreement to purchase HomeXpress while continuing to pursue a strategic re-positioning of the portfolio. HOMEXPRESS ACQUISITION ▪ Entered into a definitive agreement to acquire HomeXpress Mortgage Corp(1) with expected closing in Q4 2025. ▪ Consideration includes cash equal to HomeXpress book value(2) plus premium of $120 million and 2,077,151 shares of CIM common stock(3). BOOK VALUE ▪ Q2 2025 book value per share was $20.91 compared to $21.17 in Q1 2025, or 1.2% decrease. ▪ Economic return of 0.5%. INVESTMENTS ▪ Purchased $1.9 billion in notional Agency pass-throughs with an additional $402 million settled in Q3. ▪ Subsequently, in early Q3, settled a $6.5 billion portfolio of Fannie Mae mortgage servicing rights with a servicing partner. FINANCING ▪ Recourse leverage increased in Q2 to 1.8x from 1.2x in Q1 due to growth in Agency RMBS allocation. INTEREST RATE HEDGE ACTIVITY ▪ Agency RMBS: Ended the quarter with $2.0 billion in swap notional against the Agency RMBS portfolio. ▪ Non-Agency RMBS: $1.5 billion of swap notional matured leaving quarter end swap and interest rate cap notionals at $1.6 billion. Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 9 HomeXpress Acquisition | Strategic Rationale Transaction further enhances Chimera’s position as a leader in the residential credit sector. ADDS SCALED NON-QM LENDING FRANCHISE ▪ HomeXpress is a leading nationwide lending platform with more than $10.7 billion of loans originated since 2016. ▪ There are multiple growth channels identified that provide an opportunity to leverage Chimera’s permanent capital base. OFFERS DIRECT EXPOSURE TO NON-QM LOANS ▪ Creates the ability for Chimera to retain loans in portfolio at cost and develop a programmatic securitization routine. ▪ Organically originated loans are expected to produce enhanced economics relative to acquiring loans in the secondary market. FACILITATES INVESTMENT IN MSRs ▪ HomeXpress’ lending business creates mortgage servicing rights (“MSRs”) that may be retained for investment. SYNERGISTIC WITH 3RD PARTY ASSET MANAGEMENT ▪ Transaction introduces the ability to cross sell loan products and asset management services across the Chimera platform. STRATEGIC GROWTH OPPORTUNITIES ▪ Introduces opportunities to further enhance enterprise value through platform activities. ▪ Transaction provides the ability to drive value for REIT shareholders beyond net portfolio income derived from financial assets. DIVERSIFIES EARNINGS & UTILIZATION OF NOLs ▪ HomeXpress generates loan origination fees and gain-on-sale income, further diversifying Chimera’s sources of earnings. ▪ NOLs available to offset future income cover a substantial portion of the purchase premium.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 10 HomeXpress at-a-Glance A leading partner for loan brokers and correspondent lenders across the U.S. YEAR ESTABLISHED 2016 NATIONAL FOOTPRINT (# STATES)(1) 46 ORIGINATIONS INCEPTION-TO-DATE $10.7B 2024 PRE-TAX EARNINGS $47M LEADERSHIP ▪ HomeXpress is led by Kyle Walker, President and CEO. ▪ Seasoned senior management team with several having worked together prior to HomeXpress. PROFESSIONALS ▪ Approximately 300 full-time employees. ▪ Headquartered in Santa Ana, CA with operations and production office in Tampa, FL. KEY CLIENTS SERVED ▪ Serving mortgage brokers and correspondent lending partners nationwide. UNDERWRITING & RISK MANAGEMENT ▪ Centralized underwriting and risk management functions. ▪ All loans are sourced from approved brokers and/or correspondents and underwritten in-house. CAPITAL MARKETS ▪ Robust capital markets presence selling 20K+ loans to over 30 unique third-party institutions. ▪ Consistent seller of loans to a variety of aggregators, insurance companies, banks, and other investors. Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 11 Scaled mortgage loan portfolio with robust securitization market presence SECURITIZED DEBT (NON-RECOURSE) $7,039 MILLION REPO FINANCING (RECOURSE) $4,563 MILLION UNSECURED DEBT $140 MILLION EQUITY $2,625 MILLION KEY FUNDING METRICS INVESTMENT PORTFOLIO(1) Fair Market Value as of June 30, 2025 S E C U R IT IZ E D RE- PERFORMING $9,258 MILLION 66% INVESTOR $810 MILLION 6% LO A N S PRIME JUMBO $379 MILLION 3% RESIDENTIAL TRANSITION $213 MILLION 2% S E C U R IT IE S NON-AGENCY RMBS $1,011 MILLION 7% AGENCY MBS(2) $2,289 MILLION 16% OUTSTANDING SECURITIZATIONS(1) One of largest RPL securitization issuers TOTAL LEVERAGE RATIO 4.5x RECOURSE LEVERAGE RATIO 1.8x CASH $250 MILLION Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Investment Summary | June 30, 2025(1) 12 (DOLLARS IN THOUSANDS) PRINCIPAL OR NOTIONAL VALUE ($) AMORTIZED COST ($) FAIR VALUE ($) WEIGHTED AVERAGE COUPON WEIGHTED AVERAGE BOOK YIELD AT PERIOD-END SECURITIZED DEBT CURRENT FACE ($) SECURITIZED DEBT AMORTIZED COST ($) SECURITIZED DEBT FAIR VALUE ($) SECURITIZED DEBT BOOK YIELD SECURED FINANCING AGREEMENTS ($) NET ASSETS ($) NON-AGENCY RMBS Senior 968,382 423,120 574,295 5.7% 18.7% 109,787 68,278 68,278 3.3% 253,158 252,859 Subordinated 613,051 358,739 354,258 4.4% 7.9% 334,504 19,754 Interest-only 2,535,660 149,944 82,437 0.7% 4.4% 19,627 62,810 TOTAL NON-AGENCY RMBS 4,117,093 931,803 1,010,989 4.8% 5.4% 109,787 68,278 68,278 3.3% 607,289 335,423 AGENCY RMBS Agency CMO 362,333 362,220 361,216 5.5% 5.6% 345,109 16,107 Pass-through(2) 1,932,802 1,852,520 1,870,042 4.8% 5.5% 1,765,351 104,691 Interest-only 375,663 19,001 15,880 0.8% 6.6% 15,880 TOTAL AGENCY RMBS 2,670,798 2,233,741 2,247,138 4.8% 5.4% 2,110,460 136,678 AGENCY CMBS Project loans 39,719 40,324 35,715 3.4% 3.3% 29,170 6,545 Interest-only 289,334 5,617 5,964 0.6% 9.4% 1,330 4,634 TOTAL AGENCY CMBS 329,054 45,941 41,680 3.1% 4.1% 30,500 11,180 LOANS HELD FOR INVESTMENT Re-performing Loans 9,471,413 9,261,618 9,258,039 5.7% 5.6% 6,831,643 6,709,541 6,337,617 3.8% 1,332,848 1,587,574 Prime Loans 403,539 366,586 379,458 4.3% 5.9% 4,284 3,862 4,240 7.2% 313,526 61,693 Investor Loans 799,462 819,709 810,266 6.9% 6.5% 624,643 624,170 628,942 6.4% 181,325 Business Purpose Loans 214,732 215,542 213,027 8.7% 6.6% 168,440 44,587 TOTAL LOANS HELD FOR INVESTMENT 10,889,146 10,663,455 10,660,790 5.8% 5.7% 7,460,570 7,337,573 6,970,798 4.0% 1,814,814 1,875,178 TOTAL INVESTMENT PORTFOLIO 18,006,091 13,874,941 13,960,597 7,570,357 7,405,851 7,039,076 4,563,063 2,358,458 Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 13 Agency Pass-Throughs(1) | Portfolio Overview QUARTERLY UPDATE ▪ Added $1.9 billion of notional Agency pass-throughs with majority of settlements occurring on or after May 13th. ▪ Committed to purchase $402 million of notional Agency pass-throughs for forward settle in Q3. ▪ 6.6x leverage with $2.2 billion of repo financing that includes $226 million cash reserved to support Agency RMBS portfolio. COUPON NOTIONAL ($MM) FAIR VALUE ($MM) % OF TOTAL EQUITY BUFFER (3) ($MM) REPO ($MM) PORTFOLIO EQUITY ($MM) PORTFOLIO LEVERAGE (DEBT/EQUITY) 3.0% 205 177 7.9 23 168 32 5.2 3.5% 22 20 0.9 3 19 4 4.6 4.0% 397 370 16.4 45 355 60 5.9 4.5% 317 304 13.5 35 290 49 6.0 5.0% 621 611 27.1 60 582 89 6.6 5.5% 773 775 34.3 60 740 95 7.8 TOTAL 2,335 2,257 100 226 2,154 329 6.6 AGENCY PASS-THROUGH PORTFOLIO(1) SWAP TENOR (YEARS) NOTIONAL ($MM) WEIGHTED AVERAGE FIXED PAY RATE > 1 to ≤ 3 858 3.5% > 3 to ≤ 5 244 3.5% > 5 to ≤ 7 240 3.6% > 7 to ≤ 10 225 3.7% > 10 to ≤ 15 225 3.9% > 15 242 4.0% TOTAL 2,034 3.7% AGENCY HEDGES(2) Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 14 Agency Pass-Through(1) | Portfolio Interest Rate & Spread Sensitivities(2) QUARTERLY UPDATE ▪ $2.0 billion of swaps at quarter end used to hedge interest rate risk in Agency pass-through portfolio. ▪ Hedges used to match the key rate durations of the bonds. ▪ Model estimates of interest rate and spread sensitivities depicted below. INTEREST RATE CHANGE (BPS) ESTIMATED CHANGE IN AGENCY PORTFOLIO MARKET VALUE ESTIMATED CHANGE IN AGENCY PORTFOLIO EQUITY (75) -0.6% -3.8% (50) -0.2% -1.6% (25) 0.0% -0.3% -- -- -- 25 -0.1% -0.4% 50 -0.2% -1.4% 75 -0.5% -3.4% INTEREST RATE SENSITIVITY(2) CHANGE IN SPREAD (BPS) ESTIMATED CHANGE IN AGENCY PORTFOLIO MARKET VALUE ESTIMATED CHANGE IN AGENCY PORTFOLIO EQUITY (50) 2.9% 20.1% (20) 1.1% 7.9% (10) 0.6% 3.9% -- -- -- 10 -0.6% -3.9% 20 -1.1% -7.8% 50 -2.8% -19.1% SPREAD SENSITIVITY(2) Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Residential Credit | Portfolio Summary 15 OVERVIEW ▪ We acquire residential mortgage loans from banks, non-bank financial institutions and government sponsored agencies. ▪ We finance purchases of mortgage loans via warehouse facilities and repurchase agreements (recourse financing). ▪ We securitize loans (long-term non-recourse financing) and retain subordinate and interest-only securities along with call rights. ▪ Re-performing loans comprise 87% of the loan portfolio (by principal balance) and exhibit consistent cash flows and low convexity. Q2’25 KEY LOAN STATISTICS(1) RE-PERFORMING LOANS (RPL) PRIME JUMBO INVESTOR LOANS (DSCR) BUSINESS PURPOSE LOANS (RTL) TOTAL LOAN PORTFOLIO Current Unpaid Principal Balance (UPB) $9.5 Billion $403.5 Million $799.4 Million $214.7 Million $10.9 Billion % of Total Loan Portfolio 87% 4% 7% 2% 100% Total Number of Loans 95,686 417 3,288 223 99,614 Weighted Average Loan Size $99K $968K $243K $954K $109K Weighted Average Interest Rate 5.88% 4.27% 6.88% 8.76% 5.95% Weighted Average Borrower Credit Score 656 753 747 737 669 Weighted Average Loan Age 215 Months 40 Months 27 Months 18 Months 191 Months Weighted Average Loan Terms(2) 455 Months 361 Months 360 Months 15 Months 436 Months Weighted Average Remaining Term 240 Months 320 Months 332 Months 9 Months 245 Months Weighted Average Original Loan-to-Value (LTV) 79% 89% 67% LTC = 69%(3) 79%(5) Amortized Loan-to-Value (LTV) 62% 77% 64% LTARV = 64%(4) 63%(5) HPI Updated Loan-to-Value (LTV) 39% 77% 58% 79% 43% 60+ Days Delinquent 8.4% 0.6% 3.9% 16.7% 9.2% Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 16 RE-PERFORMING LOANS (RPL) INVESTOR LOANS (DSCR) PRIME JUMBO LOANS BUSINESS PURPOSE LOANS (RTL) 5.0 15.0 25.0 35.0 45.0 Ju n- 22 S e p -2 2 D e c- 22 M ar -2 3 Ju n- 23 S e p -2 3 D e c- 23 M ar -2 4 Ju n- 24 S e p -2 4 D e c- 24 M ar -2 5 Ju n- 25 Residential Credit | Delinquency Experience Residential credit fundamentals in our legacy RPL portfolio have remained stable with substantial borrower equity and loan seasoning. 60+ DAY DELINQUENCY EXPERIENCE (%)(1) 0.0 1.0 2.0 3.0 4.0 5.0 Ju n- 22 S e p -2 2 D e c- 22 M ar -2 3 Ju n- 23 S e p -2 3 D e c- 23 M ar -2 4 Ju n- 24 S e p -2 4 D e c- 24 M ar -2 5 Ju n- 25 7.0 7.5 8.0 8.5 9.0 9.5 Ju n- 22 S e p -2 2 D e c- 22 M ar -2 3 Ju n- 23 S e p -2 3 D e c- 23 M ar -2 4 Ju n- 24 S e p -2 4 D e c- 24 M ar -2 5 Ju n- 25 0.0 0.2 0.4 0.6 0.8 1.0 D e c- 22 M ar -2 3 Ju n- 23 S e p -2 3 D e c- 23 M ar -2 4 Ju n- 24 S e p -2 4 D e c- 24 M ar -2 5 Ju n- 25 Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 17 Residential Credit | Prepayment Experience Prepayments saw modest increases in Q2 with RPL and DSCR prepaying around housing turnover speeds and Prime Jumbo prepaying materially slower. RE-PERFORMING LOANS (RPL) INVESTOR LOANS (DSCR) PRIME JUMBO LOANS 0 4 8 12 16 Ju n- 22 S e p -2 2 D e c- 22 M ar -2 3 Ju n- 23 S e p -2 3 D e c- 23 M ar -2 4 Ju n- 24 S e p -2 4 D e c- 24 M ar -2 5 Ju n- 25 0 1 2 3 4 5 6 D e c- 22 M ar -2 3 Ju n- 23 S e p -2 3 D e c- 23 M ar -2 4 Ju n- 24 S e p -2 4 D e c- 24 M ar -2 5 Ju n- 25 PREPAYMENT EXPERIENCE (ANNUALIZED %)(1) 0 3 6 9 12 15 Ju n- 22 S e p -2 2 D e c- 22 M ar -2 3 Ju n- 23 S e p -2 3 D e c- 23 M ar -2 4 Ju n- 24 S e p -2 4 D ec -2 4 M ar -2 5 Ju n- 25 Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Residential Credit | Secured Recourse Funding(1) We seek to lock-in our funding costs with non-recourse term securitization along with hedging our floating rate liabilities. 18 $1,009M $262M $130M FLOATING NON-MTM $236M CAPPED FLOATING LIMITED MTM $785M FLOATING MTM FLOATING LIMITED MTM FLOATING NON-MTM FIXED NON-MTM $2,422M SECURED RECOURSE FINANCING Q1 2025 EXPECTED REPO MATURITIES ($ MILLIONS) HEDGE TYPE NOTIONAL ($ MILLIONS) PAY-FIXED OR STRIKE RATE OPTION EXPIRY MATURITY Swaps 500 3.45% -- Jan 2026 Swaptions -- -- -- -- Swap Futures 50 4.00% -- March 2027 Interest Rate Cap 1,000 3.95% -- Feb 2027 TOTAL 1,550 RESIDENTIAL CREDIT HEDGES $866 $420 $220 $915 $0 $200 $400 $600 $800 $1,000 0-3 Months 3-6 Months 6-12 Months 12 Months+ REPO MATURITIES ($ MILLIONS) $1,413M NON-MTM & LIMITED MTM (58.3%) $1,402M FLOATING RATE (57.9%)(2) 111% FLOATING RATE HEDGE RATIO Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Third-Party Asset Management Highlights Chimera’s third-party asset management business provides advisory and execution services for mortgage loan investors. 19 LOANS UNDER MGMT. GROWTH (YoY)(1)(2) TRANSACTION GROWTH (YoY)(1) 43% 53% LOANS UNDER MANAGEMENT ($ Billions)(1)(2) TRANSACTION VOLUME BY UNPAID BALANCE ($ Billions)(1) Expertise by Asset Type(1)(2)(3) INCEPTION TO Q2’25 Re-Performing Loans ✓ Non-Performing Loans ✓ Non-QM ✓ Residential Transition Loans ✓ International Residential Loans ✓ Home Equity Products ✓ Single Family Rental ✓ $17.7 $19.6 $22.0 $24.0 $25.4 $0 $5 $10 $15 $20 $25 $30 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 $3.4 $4.7 $5.5 $6.0 $5.2 $0 $1 $2 $3 $4 $5 $6 $7 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Detailed endnotes are included within the Appendix at the end of this presentation.

Q 1 . 2 0 2 5 | I n v e s t o r P r e s e n t a t i o n Appendix

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Financial Metrics 21 $0.41 $1.39 ($2.07) $1.77 $0.17 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 $0.37 $0.36 $0.37 $0.41 $0.39 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 $21.27 $22.35 $19.72 $21.17 $20.91 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 1.0x 1.2x 1.2x 1.2x 1.8x Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 $162 $97 $84 $253 $250 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 $486 $550 $526 $444 $311 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 GAAP Earnings Per Share Earnings Available for Distribution (EAD) Per Share(1) GAAP Book Value Per Share Recourse Leverage Cash ($ Millions) Unencumbered Assets Market Value ($ Millions) Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Earnings available for distribution is a non-GAAP measure and is defined as GAAP net income excluding (i) unrealized gains or losses on financial instruments carried at fair value with changes in fair value recorded in earnings, (ii) realized gains or losses on the sales of investments, (iii) gains or losses on the extinguishment of debt, (iv) changes in the provision for credit losses, (v) unrealized gains or losses on derivatives, (vi) realized gains or losses on derivatives, (vii) transaction expenses, (viii) stock compensation expenses for retirement eligible awards, (ix) amortization of intangibles and depreciation expenses, (x) non-cash imputed compensation expense related to business acquisitions, and (xi) other gains and losses on equity investments. Non-cash imputed compensation expense reflects the portion of the consideration paid in the Palisades Acquisition that pursuant to the seller’s contractual arrangements is distributable to the seller’s legacy employees (who are now our employees) and that for GAAP purposes is recorded as non-cash imputed compensation expense with an offsetting entry recorded as non-cash contribution from a related party to our shareholder’s equity. The excluded amounts do not include any normal, recurring compensation paid to our employees. Transaction expenses are primarily comprised of costs only incurred at the time of execution of our securitizations, certain structured secured financing agreements, and business combination transactions and include costs such as underwriting fees, legal fees, diligence fees, accounting fees, bank fees and other similar transaction-related expenses. These costs are all incurred prior to or at the execution of the transaction and do not recur. Recurring expenses, such as servicing fees, custodial fees, trustee fees and other similar ongoing fees are not excluded from earnings available for distribution. We believe that excluding these costs is useful to investors as it is generally consistent with our peer group’s treatment of these costs in their non-GAAP measures presentation, mitigates period to period comparability issues tied to the timing of securitization and structured finance transactions, and is consistent with the accounting for the deferral of debt issue costs prior to the fair value election option made by us. In addition, we believe it is important for investors to review this metric which is consistent with how management internally evaluates the performance of the Company. Stock compensation expense charges incurred on awards to retirement eligible employees is reflected as an expense over a vesting period (generally 36 months) rather than reported as an immediate expense. We view Earnings available for distribution as one measure of our investment portfolio's ability to generate income for distribution to common stockholders. Earnings available for distribution is one of the metrics, but not the exclusive metric, that our Board of Directors uses to determine the amount, if any, of dividends on our common stock. Other metrics that our Board of Directors may consider when determining the amount, if any, of dividends on our common stock include, among others, REIT taxable income, dividend yield, book value, cash generated from the portfolio, reinvestment opportunities and other cash needs. To maintain our qualification as a REIT, U.S. federal income tax law generally requires that we distribute at least 90% of our REIT taxable income (subject to certain adjustments) annually. Earnings available for distribution, however, is different than REIT taxable income. For example, differences between Earnings available for distribution and REIT taxable income generally may result from whether the REIT uses mark-to- market accounting for GAAP purposes, accretion of market discount or OID and amortization of premium, and differences in the treatment of securitizations for GAAP and tax purposes, among other items. Further, REIT taxable income generally does not include earnings of our domestic TRSs unless such income is distributed from current or accumulated earnings and profits. The determination of whether we have met the requirement to distribute at least 90% of our annual REIT taxable income is not based on Earnings available for distribution and Earnings available for distribution should not be considered as an indication of our REIT taxable income, a guaranty of our ability to pay dividends, or as a proxy for the amount of dividends we may pay. We believe Earnings available for distribution helps us and investors evaluate our financial performance period over period without the impact of certain non-recurring transactions. Therefore, Earnings available for distribution should not be viewed in isolation and is not a substitute for or superior to net income or net income per basic share computed in accordance with GAAP. In addition, our methodology for calculating Earnings available for distribution may differ from the methodologies employed by other REITs to calculate the same or similar supplemental performance measures, and accordingly, our Earnings available for distribution may not be comparable to the Earnings available for distribution reported by other REITs. Earnings Available for Distribution 22

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Earnings Available for Distribution The following table provides GAAP measures of net income and net income per diluted share available to common stockholders for the periods presented and details with respect to reconciling the line items to Earnings available for distribution and related per average diluted common share amounts. Earnings available for distribution is presented on an adjusted dilutive shares basis. 23 For the Quarters Ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 (dollars in thousands, except per share data) GAAP Net income (loss) available to common stockholders $ 14,024 $ 145,940 $ (168,275) $ 113,672 $ 33,913 Adjustments (1): Net unrealized (gains) losses on financial instruments at fair value (6,971) (128,895) 181,197 (104,012) (11,231) Net realized (gains) losses on sales of investments 1,915 — 1,468 — — (Gains) losses on extinguishment of debt — (2,122) — — — Increase (decrease) in provision for credit losses 4,409 3,387 4,448 358 3,684 Net unrealized (gains) losses on derivatives 2,554 6,469 (276) 14,457 (11,955) Realized (gains) losses on derivatives 17,954 (82) (641) 4,864 17,317 Transaction expenses 390 5,688 4,707 2,317 — Stock Compensation expense for retirement eligible awards (501) 1,432 (307) (424) (419) Amortization of intangibles and depreciation expenses(2) 949 951 321 — — Non-cash imputed compensation related to business acquisition 341 341 10,296 — — Other investment (gains) losses (2,953) 417 (2,490) (1,366) (1,001) Earnings available for distribution $ 32,111 $ 33,526 $ 30,448 $ 29,866 $ 30,308 GAAP net income (loss) per diluted common share $ 0.17 $ 1.77 $ (2.07) $ 1.39 $ 0.41 Earnings available for distribution per adjusted diluted common share $ 0.39 $ 0.41 $ 0.37 $ 0.36 $ 0.37 Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Net Interest Spread The table below shows our average earning assets held, interest earned on assets, yield on average interest earning assets, average debt balance, economic interest expense, economic average cost of funds, economic net interest income, and net interest rate spread for the periods presented. 24 For the Quarters Ended June 30, 2025 March 31, 2025 (dollars in thousands) (dollars in thousands) Average Balance Interest Average Yield/Cost Average Balance Interest Average Yield/Cost Assets: Interest-earning assets(1): Agency RMBS (3) $ 1,422,791 $ 19,649 5.5% $ 627,478 $ 7,158 5.6% Agency CMBS 41,709 1,264 12.1 % 41,607 548 5.3% Non-Agency RMBS 962,840 28,289 11.8 % 987,344 28,269 11.5 % Loans held for investment 10,856,968 150,093 5.5% 11,091,882 153,591 5.5% Total $ 13,284,308 $ 199,295 6.0% $ 12,748,311 $ 189,566 5.9% Liabilities and stockholders' equity: Interest-bearing liabilities(2): Secured financing agreements collateralized by: Agency RMBS (3) $ 1,294,316 $ 12,428 4.6% $ 487,288 $ 4,730 4.6% Agency CMBS 30,572 346 4.5% 29,972 338 4.5% Non-Agency RMBS 629,610 9,330 5.9% 647,628 9,569 5.9% Loans held for investment 1,851,517 29,628 6.4% 1,828,760 27,450 6.0% Securitized debt 7,555,801 75,014 4.0% 7,636,038 71,701 3.8% Long term debt(3) 139,750 3,474 9.9% 139,750 3,474 9.9% Total $ 11,501,566 $ 130,220 4.5% $ 10,769,436 $ 117,262 4.4% Economic net interest income/net interest rate spread $ 69,075 1.5 % $ 72,304 1.5 % Net interest-earning assets/net interest margin $ 1,782,742 2.1 % $ 1,978,875 2.3 % Ratio of interest-earning assets to interest bearing liabilities 1.15 1.18 Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Investment Summary | March 31, 2025(1) 25 (DOLLARS IN THOUSANDS) PRINCIPAL OR NOTIONAL VALUE ($) AMORTIZED COST ($) FAIR VALUE ($) WEIGHTED AVERAGE COUPON WEIGHTED AVERAGE BOOK YIELD AT PERIOD-END SECURITIZED DEBT CURRENT FACE ($) SECURITIZED DEBT AMORTIZED COST ($) SECURITIZED DEBT FAIR VALUE ($) SECURITIZED DEBT BOOK YIELD SECURED FINANCING AGREEMENTS ($) NET ASSETS ($) NON-AGENCY RMBS Senior 994,386 445,212 601,108 5.7% 18.1% 109,789 69,990 69,990 3.3% 268,775 262,344 Subordinated 643,316 382,550 377,585 4.5% 8.1% 350,899 26,686 Interest-only 2,589,059 151,550 81,148 0.7% 4.3% 19,723 61,425 NON-AGENCY RMBS TOTAL 4,226,761 979,313 1,059,841 4.4% 12.1% 109,789 69,990 69,990 3.3% 639,397 350,455 AGENCY RMBS Agency CMO 451,023 450,846 449,448 5.5% 5.6% 391,864 57,584 Pass-through(2) 149,420 150,229 149,497 5.5% 5.4% 91,043 58,455 Interest-only 379,113 19,267 15,852 0.8% 7.6% 15,852 AGENCY RMBS TOTAL 979,556 620,342 614,797 5.4% 5.6% 482,906 131,891 AGENCY CMBS Project loans 40,875 41,494 35,002 3.5% 3.4% 29,128 5,874 Interest-only 294,363 5,894 6,538 0.6% 9.4% 1,414 5,124 AGENCY CMBS TOTAL 335,238 47,388 41,540 3.1% 4.1% 30,542 10,998 LOANS HELD FOR INVESTMENT Re-performing Loans 9,751,275 9,544,070 9,485,918 5.4% 5.6% 7,103,751 6,976,212 6,529,279 3.8% 1,316,129 1,640,510 Prime Loans 414,628 376,810 388,539 4.3% 5.9% 4,342 3,913 4,301 7.2% 320,730 63,507 Investor Loans 833,924 854,720 843,842 6.9% 6.6% 659,198 658,294 664,507 6.4% 179,335 Business Purpose Loans 260,073 261,937 259,433 8.8% 7.2% 204,486 54,946 LOANS HELD FOR INVESTMENT TOTAL 11,259,900 11,037,537 10,977,732 5.5% 5.6% 7,767,291 7,638,419 7,198,087 4.0% 1,841,345 1,938,299 TOTAL INVESTMENT PORTFOLIO 16,801,454 12,684,580 12,693,910 7,877,079 7,708,409 7,268,077 2,994,191 2,431,642 Detailed endnotes are included within the Appendix at the end of this presentation.

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Consolidated Loan Securitizations 26 ORIGINAL FACE ($ Thousands) REMAINING FACE ($ Thousands) WEIGHTED AVERAGE COUPON (WAC) VINTAGE DEAL TOTAL SOLD RETAINED TOTAL SOLD RETAINED Outstanding Bonds Sold Underlying Collateral FIRST CALL DATE 2025 CIM 2025-R1 391,790 333,021 58,769 384,441 325,710 58,731 5.00% 5.44% Mar-27 2025 CIM 2025-NR1 254,432 184,463 69,969 240,505 172,078 68,427 5.00% 4.94% Mar-26 2025 CIM 2025-I1 287,674 275,735 11,939 263,182 251,243 11,939 5.93% 7.84% Feb-28 2024 CIM 2024-R1 468,148 351,813 116,335 418,742 302,419 116,321 4.75% 5.68% Clean-up Call 2023 CIM 2023-I2 238,530 202,750 35,780 182,092 146,255 35,780 6.71% 7.09% Jul-26 2023 CIM 2023-R4 393,997 343,368 50,629 319,477 268,862 50,615 5.02% 5.67% Apr-28 2023 CIM 2023-R3 450,834 394,479 56,355 364,635 308,278 56,355 4.50% 5.56% Currently Callable 2023 CIM 2023-I1 236,161 205,578 30,583 181,817 151,233 30,583 6.37% 7.37% Apr-26 2023 CIM 2023-R2 447,384 364,841 82,543 351,569 269,143 82,426 5.50% 6.26% Mar-28 2023 CIM 2023-R1 585,718 512,503 73,215 457,064 385,041 71,994 5.40% 6.21% Currently Callable 2022 CIM 2022-R3 369,891 327,168 42,723 274,289 231,672 42,616 4.57% 5.50% Sep-27 2022 CIM 2022-I1 219,442 122,997 96,445 172,372 75,912 96,445 4.35% 4.73% Currently Callable 2022 CIM 2022-R2 508,202 440,865 67,337 386,461 319,455 67,004 3.81% 4.76% May-27 2022 CIM 2022-R1 328,226 294,090 34,136 234,549 200,385 34,115 3.05% 4.52% Feb-27 2021 CIM 2021-R6 353,797 336,284 17,513 184,243 166,725 17,513 1.68% 5.96% Sep-26 2021 CIM 2021-R5 450,396 382,836 67,560 305,535 238,891 66,644 2.00% 5.61% Currently Callable 2021 CIM 2021-R4 545,684 463,831 81,853 303,863 222,772 81,091 2.00% 5.88% Currently Callable 2021 CIM 2021-R3 859,735 730,775 128,960 431,501 303,502 128,000 1.95% 5.85% Currently Callable 2021 CIM 2021-R2 1,497,213 1,272,631 224,582 661,527 437,576 223,951 2.07% 6.69% Currently Callable 2021 CIM 2021-R1 2,098,584 1,783,797 314,787 983,323 668,222 314,718 1.94% 6.50% Currently Callable 2020 CIM 2020-R7 653,192 562,023 91,169 334,928 245,063 89,865 2.43% 6.14% Currently Callable 2020 CIM 2020-R6 418,390 334,151 84,239 240,176 156,817 83,359 2.25% 5.38% Currently Callable 2020 CIM 2020-R5 338,416 257,027 81,389 150,448 69,363 81,084 2.58% 5.46% Clean-up Call 2020 CIM 2020-R3 438,228 328,670 109,558 231,578 124,259 107,319 4.00% 5.51% Currently Callable 2020 CIM 2020-R2 492,347 416,761 75,586 269,244 195,608 73,895 2.68% 4.32% Clean-up Call 2020 CIM 2020-R1 390,761 317,608 73,153 225,762 154,085 71,677 2.90% 5.86% Currently Callable 2019 SLST 2019-1 1,217,441 941,719 275,722 708,568 495,637 202,215 3.50% 4.11% Currently Callable 2019 CIM 2019-R5 315,039 252,224 62,815 143,037 80,558 61,981 3.04% 5.78% Clean-up Call 2019 CIM 2019-R4 320,802 256,641 64,161 156,071 94,083 61,988 3.00% 6.31% Currently Callable 2019 CIM 2019-R3 342,633 291,237 51,396 134,401 84,781 49,608 2.63% 6.63% Currently Callable 2019 CIM 2019-R2 464,327 358,172 106,155 262,851 160,048 102,803 3.49% 5.43% Clean-up Call 2019 CIM 2019-R1 371,762 297,409 74,353 197,973 125,601 72,372 3.25% 5.02% Currently Callable 2018 CIM 2018-R3 181,073 146,669 34,404 50,018 18,322 31,523 4.21% 7.23% Currently Callable 2016 CIM 2016-FRE1 185,811 115,165 70,646 64,634 6,687 57,947 3.87% 4.66% Currently Callable 2008 PHHMC 2008-CIM1 619,710 549,142 70,568 5,790 4,284 1,484 6.67% 5.03% Do Not Hold Call Rights $17,735,770 $14,748,443 $2,987,327 $10,276,666 $7,460,570 $2,804,387 3.63% 5.75%

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Slide #4 1. Chimera is purchasing HomeXpress indirectly through its acquisition of a holding company, HX Holdco Corp. 2. Unaudited third-party managed loans and real estate. Includes total debt associated with discretionary private credit funds and non-discretionary asset management mandates. Data is sourced and reconciled to monthly mortgage loan servicer detail which is subject to subsequent adjustment. Slide #6 1. Sourced from Bloomberg. 2. RMBS spreads sourced from Wells Fargo and Bank of America research. 3. Home price data sourced from Bloomberg using S&P Case Shiller National Home Price Index, non- seasonally adjusted. Slide #7 1. Economic return represents the change in book value quarter-over-quarter plus dividends per common share declared. 2. Floating rate repurchase agreements excludes capped floating rate facility of $236 million 3. Non-mark-to-market repo includes financings that have margin holidays or limited mark-to-market features. Slide #8 1. Chimera is purchasing HomeXpress indirectly through its acquisition of a holding company, HX Holdco Corp. 2. HomeXpress had $115 million of GAAP Total Equity as of March 31, 2025. 3. Numbers of shares determined using the 20-day volume weighted-average price (VWAP) as of June 11th, 2025. Slide #10 1. HomeXpress lends in 46 states and D.C. Slide #11 1. Investment portfolio figures exclude real estate owned and forward settling transactions. Slide #12 1. Investment portfolio figures exclude real estate owned and forward settling transactions. 2. Agency Pass-through Net Assets does not include any cash reserves or initial margin related to our interest rate hedges allocated to the portfolio. Slide #13 1. Agency Pass-Throughs (i) excludes Agency CMOs, Agency CMBS, and legacy Agency interest only securities, and (ii) includes forward settling transactions. 2. Excludes derivatives and hedges allocated to the Residential Credit portfolio. 3. Equity Buffer includes initial cash margin held by derivative counterparties and cash reserves allocated to the Agency RMBS portfolio. Slide #14 1. Agency Pass-Throughs (i) excludes Agency CMOs, Agency CMBS, and legacy Agency interest only securities, and (ii) includes forward settling transactions. 2. Interest rate and spread sensitivities derived using models licensed from third parties with internally derived inputs. Actual results may differ materially from projected estimates. Slide #15 1. Data is sourced from trustee reports, servicers, Bloomberg and Intex. 2. Weighted Average Loan Term is based on the most recent maturity date of the loan that includes any loan modifications or extension of the maturity date, in each case calculated from the related loan’s first payment date. 3. For Business Purpose Loans (RTLs), LTC is loan-to-cost, or the total loan amount as a percent of the house value at the time of purchase plus all budgeted improvements. 4. For Business Purpose Loans (RTLs), LTARV is loan-to-after repair value, or the total loan amount as a percent of the estimated property value after the completion of all planned and budgeted improvements. 5. Total Loan Portfolio Weighted Average Original Loan-to-Value (LTV) and Amortized Loan-to-Value (LTV) excludes the LTC and LTARV related to the Business Purpose Loans. Slide #16 1. Delinquency data sourced from Bloomberg, Intex and trustee/servicer data. Prime Jumbo excludes data prior to December 2022 due to materiality. Slide #17 1. Prepayment data sourced from Bloomberg, Intex and trustee/servicer data. Prime Jumbo excludes data prior to December 2022 due to materiality. Endnotes 27

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . Slide #18 1. Residential Credit Secured Recourse Funding includes only financing and interest rate hedges related to, or allocated to, the Residential Credit portfolio. Data does not include outstanding financings or derivatives related to, or allocated to, the Agency RMBS portfolio. 2. Excludes capped floating rate financing of $236 million. Slide #19 1. Unaudited third-party managed loans and real estate. Excludes total debt associated with discretionary private credit funds. 2. Data is sourced and reconciled to monthly mortgage loan servicer detail which is subject to subsequent adjustment and reconciliations. 3. Inception period begins February 2013. Slide #21 1. Earnings available for distribution per adjusted diluted common share is a non-GAAP measure. See additional discussion in the Appendix section of this presentation for GAAP to Non-GAAP reconciliations. Slide #23 1. As a result of the Palisades Acquisition, we updated the determination of earnings available for distribution to exclude non-recurring acquisition-related transaction expenses, non-cash amortization of intangibles and depreciation expenses, and non-cash imputed compensation expenses. These expenses are excluded as they relate to the Palisades Acquisition and are not directly related to generation of our portfolio’s investment income. 2. Non-cash amortization of intangibles and depreciation expenses related to Palisades Acquisition. Slide #24 1. Interest-earning assets at amortized cost. 2. Interest includes periodic interest on derivatives, net. 3. These amounts have been adjusted to reflect the daily outstanding averages for which the financial instruments were held during the period. Slide #25 1. Investment portfolio figures exclude real estate owned and forward settling transactions. 2. Agency Pass-through Net Assets does not include any cash reserves or initial margin related to our interest rate hedges allocated to the portfolio. Endnotes, continued 28

I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e .