Company: RWT-PA
Filing Date: 2025-11-18
Form Type: 424B5
Source: 0001104659-25-113682
Chunk: 8

Company: REDWOOD TRUST INC
Filing Date: 2025-11-18
Form: 424B5
Chunk 8
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Redwood Trust, Inc., together with its subsidiaries, is a specialty finance company focused on several distinct areas of housing credit where we provide liquidity to growing segments of the U.S. housing market not well served by government programs. We deliver customized housing credit investments to a diverse mix of investors, through our best-in-class securitization platforms, whole-loan distribution activities, joint ventures and our publicly traded shares. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. We operate our business in four segments: Sequoia Mortgage Banking, CoreVest Mortgage Banking, Redwood Investments and Legacy Investments.

In the second quarter of 2025, the Company began reporting Legacy Investments as a new reportable segment. Previously included within Redwood Investments, this segment consists of assets that are no longer strategically aligned with our core business strategies and are generally in runoff or other forms of disposition as part of the Company’s ongoing strategic repositioning.

Our primary sources of income are net interest income from our investments and non-interest income from our mortgage banking activities. Net interest income primarily consists of the interest income we earn on investments, less the interest expense we incur on borrowed funds and other liabilities. Income from mortgage banking activities is generated through the origination and acquisition of loans, and their subsequent sale, securitization, or transfer to our Redwood Investments segment.

Redwood Trust, Inc. has elected to be taxed as a REIT under the Code beginning with its taxable year ended December 31, 1994. We generally refer, collectively, to Redwood Trust, Inc. and those of its subsidiaries that are generally not subject to subsidiary-level corporate income tax as “the REIT” or “our REIT.” We generally refer to subsidiaries of Redwood Trust, Inc. that are subject to subsidiary-level corporate income tax as “our taxable REIT subsidiaries” or “TRSs.”

#### Repayment of 2025 Notes
In October 2025, we retired the remaining $123.5 million outstanding aggregate principal amount of 5.75% exchangeable senior notes due 2025 issued by one of our subsidiaries (the “2025 Notes”). Unless otherwise stated, all references to our and our subsidiaries’ outstanding indebtedness as of September 30, 2025 includes $123.5 million aggregate principal amount of 2025 Notes outstanding as of such date.

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