Company: TWO-PC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001465740-25-000090
Chunk: 2

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 2
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ement thereof.

Record Date: You may vote at the Annual Meeting if you were a holder of record of our common stock as of the close of business on March 19, 2025.

Proxy Materials: On or about April 2, 2025, we expect to begin mailing a Notice of Internet Availability of Proxy Materials, which contains information regarding how to access our proxy materials and vote. Our Proxy Statement and 2024 Annual Report are available at www.proxyvote.com .

Admission: You may participate in the Annual Meeting by visiting www.virtualshareholdermeeting.com/TWO2025. You will need the 16-digit control number included on your Notice of Internet Availability of Proxy Materials, on your proxy card or on the instructions that accompanied your proxy materials .

Questions: You may submit a question prior to the Annual Meeting online at www.proxyvote.com or during the Annual Meeting at www.virtualshareholdermeeting.com/TWO2025.

BY ORDER OF THE BOARD OF DIRECTORS,

Rebecca B. Sandberg

Vice President, Chief Legal Officer and Secretary

April 2, 2025

### IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR
<div align='center'>THE 2025 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 14, 2025:

Our Proxy Statement and 2024 Annual Report, which includes our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, are available at www.proxyvote.com .</div>

### TABLE OF CONTENTS
| EXECUTIVE SUMMARY                                                                      |     |  1 |
| CORPORATE GOVERNANCE                                                                   |     |  4 |
| Proposal 1: Election of Directors                                                      |     |  4 |
| Overview of Director Nominees                                                          |     |  4 |
| Board Composition                                                                      |     |  5 |
| Director Nominations                                                                   |     |  5 |
| Corporate Governance Policies and Practices                                            |     | 10 |
| Director Compensation                                                                  |     | 15 |
| Certain Relationships and Related Party Transactions                                   |     | 17 |
| Stock Ownership                                                                        |     | 18 |
| EXECUTIVE OFFICERS                                                                     |     | 20 |
| EXECUTIVE COMPENSATION                                                                 |     | 22 |
| Compensation Discussion and Analysis                                                   |     | 22 |
| Compensation Committee Report                                                          |     | 39 |
| Compensation Risk Assessment                                                           |     | 39 |