Company: RWT-PA
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000930236-25-000012
Chunk: 40

Company: REDWOOD TRUST INC
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 40
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IT (ex. Comm.)”, the simple average of the TSRs for the component companies of the FTSE Nareit Mortgage REITs index for the three-year period ending 12/31/2024, excluding mortgage REITs classified as commercial-focused with that index (excludes companies for which a three-year TSR was not available).  Source: Bloomberg data for the respective periods presented. |
| (17) |     | Bar graph of “4-Year Total Shareholder Return (TSR)” reflects (i) for “Redwood”, Redwood’s TSR for the four-year period ending 12/31/2024; (ii) for “mREIT Peers”, the simple average of the TSRs for Redwood’s mREIT Peers (listed in note (2) above) for the four-year period ending 12/31/2024; (iii) for “mREIT NAREIT”, the simple average of the TSRs for the component companies of the FTSE Nareit Mortgage REITs index for the four-year period ending 12/31/2024 (excludes companies for which a four-year TSR was not available); and (iv) for “mREIT NAREIT (ex. Comm.)”, the simple average of the TSRs for the component companies of the FTSE Nareit Mortgage REITs index for the four-year period ending 12/31/2024, excluding mortgage REITs classified as commercial-focused with that index (excludes companies for which a four-year TSR was not available). Source: Bloomberg data for the respective periods presented.        |

CEO’S 2024 LONG-TERM PAY-FOR-PERFORMANCE OUTCOME – CEO’S LONG-TERM PAY REALIZATION IN 2024:

| (18) |     | Bar graph of “CEO’s Long-Term/Performance-Based Pay Realization – 2024” depicts: (i) a total of $4.875 million of realizable grant/target value of components of long-term compensation for the CEO for 2024, which is comprised of: DSUs and cash-settled DSUs (“csDSUs”) with a four-year vesting/delivery/settlement schedule that concluded in December 2024, which DSUs and csDSUs had an aggregate original grant date fair value in December 2020 of $1.875 million; and PSUs with a three-year performance-based vesting period that concluded on December 31, 2024