Company: TWO-PC
Filing Date: 2025-05-13
Form Type: 8-K
Source: 0001104659-25-047870
Chunk: 2

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-05-13
Form: 8-K
Item: Item 1.01
Chunk 2
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 other capital expenditures.

Copies of the Base Indenture, the Fourth Supplemental
Indenture and the form of the Notes are attached hereto as Exhibit 4.1, Exhibit 4.2 and Exhibit 4.3, respectively, and are incorporated
herein by reference. The foregoing summaries do not purport to be complete and are qualified in their entirety by reference to the Base
Indenture, the Fourth Supplemental Indenture and the form of the Notes.

In connection with the registration of the Notes
under the Securities Act, the legal opinions of Ballard Spahr LLP relating to certain matters of Maryland law and Skadden, Arps, Slate, Meagher & Flom LLP relating to the legality
of the Notes are attached hereto as Exhibit 5.1 and Exhibit 5.2, respectively, and are incorporated herein by reference.