Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 45

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 45
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 been circulated or distributed,
nor will it be circulated or distributed, whether directly or indirectly, to any person in Singapore other than (i) to an institutional
investor (as defined in Section 4A of the Securities and Futures Act 2001 of Singapore, as modified or amended from time to time
(the “SFA”)) pursuant to Section 274 of the SFA, or (ii) to an accredited investor (as defined in Section 4A
of the SFA) pursuant to and in accordance with the conditions specified in Section 275 of the SFA.

United Kingdom

THE CONTENT OF THIS PROMOTION HAS NOT BEEN APPROVED
BY AN AUTHORISED PERSON WITHIN THE MEANING OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (AS AMENDED) ("FSMA"). RELIANCE ON
THIS PROMOTION FOR THE PURPOSE OF BUYING THE NOTES TO WHICH THE PROMOTION RELATES MAY EXPOSE AN INDIVIDUAL TO A SIGNIFICANT RISK
OF LOSING ALL OF THE PROPERTY OR OTHER ASSETS INVESTED.

THIS COMMUNICATION IS EXEMPT FROM THE FINANCIAL
PROMOTION RESTRICTION PURSUANT TO SECTION 21 OF FSMA ON THE BASIS THAT THE COMMUNICATION IS MADE TO PERSONS FALLING WITHIN EXEMPTIONS
AVAILABLE UNDER THE FINANCIAL SERVICES AND MARKETS ACT (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED (THE “FPO”), FOR EXAMPLE
TO THOSE WHO QUALIFY AS HIGH NET WORTH INDIVIDUALS AND/OR SELF-CERTIFIED SOPHISTICATED INVESTORS.

AS SUCH, THE NOTES SHALL NOT BE MARKETED, OFFERED
OR SOLD IN THE UNITED KINGDOM EXCEPT TO EXEMPT PERSONS UNDER THE FPO INCLUDING: (1) PERSONS WHO ARE INVESTMENT PROFESSIONALS, AS
DEFINED IN ARTICLE 19(5) OF THE FPO;

(2) PERSONS WHO ARE HIGH NET WORTH INDIVIDUALS,
AS DEFINED IN ARTICLE 48(2) OF THE FPO (AND HAVING COMPLETED AND SIGNED A STATEMENT TO THAT EFFECT IN ACCORDANCE THE FPO);
(3) PERSONS WHO ARE HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS ETC., AS DEFINED IN ARTICLE 49(2)(A) TO (D) OF
THE FPO; (4) PERSONS WHO ARE