Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079260
Chunk: 33

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
Chunk 33
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 Preferred Stock and Series C Preferred Stock with respect to the payment of dividends and the distribution of assets in the event of our liquidation, dissolution or winding up. The term “stock” does not include any convertible or exchangeable debt securities we may issue in the future.

The registrar, transfer agent and dividend and redemption price disbursing agent in respect of the Series B Preferred Stock and Series C Preferred Stock is Computershare Inc.

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TABLE OF CONTENTS

#### The Series B Preferred Stock
Terms defined in this “Description of the Preferred Stock — The Series B Preferred Stock” section have the meanings ascribed to such terms herein only when used in this “Description of the Preferred Stock — The Series B Preferred Stock” section.

#### Listing
The Series B Preferred Stock is listed on the NYSE under the symbol “MFAPrB.”

#### Ranking
The Series B Preferred Stock ranks, with respect to dividend rights and rights upon the voluntary or involuntary liquidation, dissolution or winding up of our affairs:

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senior to all our Junior Stock;

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on a parity with our Parity Stock;

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junior to any Senior Stock we may issue; and

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effectively junior to all of our existing and future indebtedness (including indebtedness convertible into or exchangeable for our common stock or preferred stock) and the indebtedness of our existing and future subsidiaries.

At June 30, 2025, we had approximately $9.9 billion of indebtedness and other liabilities ranking senior to the Series B Preferred Stock.

#### Dividends
Subject to the preferential rights of the holders of any class or series of our capital stock ranking senior to the Series B Preferred Stock with respect to dividend rights, the holders of shares of the Series B Preferred Stock are entitled to receive, when, as and if authorized by our Board and declared by us out of funds legally available for the payment of dividends, cumulative cash dividends at the rate of 7.50% per annum of the $25.00 liquidation preference per share of the Series B Preferred Stock (equivalent to the fixed annual amount of $1.875 per share of the Series B Preferred Stock).

Dividends on the Series B Preferred Stock will accrue and be cumulative from, and including, from the most recent dividend payment date to which dividends have been paid in full (or declared and the record date for determining stockholders entitled to payment thereof has passed) and will be payable to holders quarterly in arrears on