Company: RWT-PA
Filing Date: 2025-08-22
Form Type: 424B5
Source: 0001104659-25-081925
Chunk: 34

Company: REDWOOD TRUST INC
Filing Date: 2025-08-22
Form: 424B5
Chunk 34
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 summary of the material provisions of the notes and the indenture and does not purport to be complete. This summary is subject to and is qualified by reference to all the provisions of the notes and the indenture, including the definitions of certain terms used in the indenture. In addition, the indenture and the notes will be deemed to include certain terms that are made a part of the indenture and the notes pursuant to the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”).

We urge you to read the indenture because it, and not this description, defines your rights as a holder of the notes. You may request a copy of the indenture from us. The indenture was filed as Exhibit 4.1to our Current Report on Form 8-K, which was filed with the SEC on June 9, 2022. See “Where You Can Find More Information” in this prospectus supplement.

This “Description of Notes” section supersedes, in its entirety, the information in the accompanying prospectus under the captions “Description of Debt Securities” and “Global Securities,” which does not apply to the notes.

For purposes of this description, references to the “Company,” “we,” “our” and “us” refer only to Redwood Trust, Inc. and not to its subsidiaries. As used in this section of the prospectus supplement, the term “notes” includes the existing notes, unless the context requires otherwise.

#### General
The notes:

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will:

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be our senior unsecured obligations;

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rank equal in right of payment with our other existing and future senior unsecured indebtedness, including the existing notes, our Senior Notes and our guarantee of the 2025 Notes;

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rank senior in right of payment to any existing and future indebtedness that is contractually subordinated to the notes;

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be effectively subordinated to all of our existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness; and

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be structurally subordinated to the claims of our subsidiaries’ creditors, including trade creditors and our subsidiary’s obligations under the 2025 Notes;

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will mature on June 15, 2027 (the “maturity date”), unless earlier repurchased, redeemed or converted;

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will be redeemable, in whole or in part, at our option, at any time, and from time to time