Company: TWO-PC
Filing Date: 2025-05-07
Form Type: 305B2
Source: 0001104659-25-045354
Chunk: 7

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-05-07
Form: 305B2
Chunk 7
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, an election of directors is not made on the designated
day, the election shall be held on some subsequent day, as soon thereafter as practicable, with prior notice thereof. Failure to hold
an annual meeting as required by these Bylaws shall not affect the validity of any corporate action or work a forfeiture or dissolution
of the Association.

Section 1.2. . Except as otherwise specially provided by law, special meetings of the shareholders may be called for any purpose, at
any time by a majority of the board of directors (the “Board”), or by any shareholder or group of shareholders owning at
least ten percent of the outstanding stock. Every such special meeting, unless otherwise provided by law, shall be called upon not
less than ten (10) days nor more than sixty (60) days prior notice stating the purpose of the meeting.

Section 1.3. . Nominations for election to the Board may be made by the Board or by any shareholder.

Section 1.4. .
Shareholders may vote at any meeting of the shareholders by proxies duly authorized in writing. Proxies shall be valid only for one meeting
and any adjournments of such meeting and shall be filed with the records of the meeting.

Section 1.5. . The record date for determining shareholders entitled to notice and to vote at any meeting will be thirty days before the date
of such meeting, unless otherwise determined by the Board.

Section 1.6. . A majority of the outstanding capital stock, represented in person or by proxy, shall constitute a quorum at any
meeting of shareholders, unless otherwise provided by law, but less than a quorum may adjourn any meeting, from time to time, and
the meeting may be held as adjourned without further notice. A majority of the votes cast shall decide every question or matter
submitted to the shareholders at any meeting, unless otherwise provided by law or by the Articles of Association.

Section 1.7. .
The Board may, and in the event of its failure so to do, the Chairman of the Board may appoint Inspectors of Election who shall determine
the presence of quorum, the validity of proxies, and the results of all elections and all other matters voted upon by shareholders at
all annual and special meetings of shareholders.

Section 1.8. . The shareholders may act without notice or a meeting by a unanimous written consent by all shareholders.

Section 1.9. . The Board shall have the right to determine that