Company: RWT-PA
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000930236-25-000012
Chunk: 37

Company: REDWOOD TRUST INC
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 37
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 executive stock ownership requirements refers to comparison to Redwood of the following group of mortgage-REIT peers – listed alphabetically using stock tickers: AGNC; ARR; CIM; DX; IVR; MFA; MITT; NLY; NYMT; PMT; RITM and TWO. We refer to this peer group within this Executive Summary of CD&A as Redwood’s “mREIT Peers”. This mREIT Peer group is a group of publicly-traded mortgage REITs whose business models share a common focus on investing in residential mortgages and related assets. Redwood regularly compares its financial performance to these mREIT Peers. This mREIT Peer group is distinct from the larger and broader “compensation peer group” identified by the Committee each year for purposes of peer comparison of executive compensation practices. |

STOCKHOLDER OUTREACH AND ENGAGEMENT – OUTREACH AND ENGAGEMENT DURING 2024:

| (3) |     | Shareholder outreach, response and engagement percentages reflect outreach and engagement activity from January 1, 2024 through December 31, 2024. Shareholder outreach and engagement percentages are based on share ownership IHS Markit data as of September 30, 2024. |

REDWOOD’S 2024 ANNUAL FINANCIAL PERFORMANCE:

| (4) |     | Non-GAAP EAD ROE is a non-GAAP performance measure that is defined and described, and is reconciled to ROE based on GAAP financial results, in Annex A to this Proxy Statement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (5) |     | Book value TSR (also referred to as book value total shareholder return, or “bvTSR”) for a designated period represents the period change in GAAP book value per common share plus dividends declared per common share in the period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| (6) |     | Bar graph of “Return-on-Equity (ROE) – 2024” reflects (i) for “Redwood”, Redwood’s return-on-common equity (“ROE”) based on 2024 GAAP financial results; (ii) for “mREIT Peers”, the simple average of the 2024 ROEs for Redwood’s self-designated mortgage REIT peers (listed in note (2) above); (iii) for “mREIT NAREIT”, the simple average of the 2024 ROEs for the component companies of the FTSE N