Company: TWO-PC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001465740-25-000090
Chunk: 58

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 58
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 |            | 1,065,102 |     |                     |         — |     |                                       |          — |     |                                          |          — |     |                                       |          — |     |                                         |          — |     |                                   | — |
| Total                          |     |       |                                                          | — |     |            | 6,379,954 |     |                     | 8,662,884 |     |                                       | 22,803,987 |     |                                          | 22,517,102 |     |                                       | 27,857,901 |     |                                         | 27,857,901 |     |                                   | — |

(1) As of December 31, 2024, Mr. Greenberg, Mr. Dellal and Mr. Rush met the retirement criteria set forth in our 2021 Plan.

(2) Represents the aggregate cash severance amount payable under the Severance Benefits Plan, comprised of cash compensation (which is a multiple of the sum of the executive’s base salary plus target annual cash incentive) and a prorated annual cash incentive. For purposes of calculating cash compensation and prorated annual cash incentive, we (i) used base salary in effect at December 31, 2024 and (ii) the 2024 target annual cash incentive for each executive officer as identified on page 29 above.

(3) Based on (i) RSUs outstanding under our 2021 Plan, and (ii) PSUs outstanding under our 2021 Plan, all as more fully described under “ Outstanding Equity Awards at Fiscal Year-End for 2024 ” on page 42 above. Assumes PSUs are awarded at target levels at the end of the applicable performance period, and does not include the value of any DERs that may accrue during the performance period. The value of shares underlying the awards is calculated based on the $11.83 closing market price of our common stock on the NYSE on December 31, 2024.

(4) Represents the estimated aggregate amount of the COBRA severance benefits payable under the Severance Benefits Plan assuming the executive officer is enrolled in the same level of health and welfare benefits as on December 31, 2024 and assuming they are eligible for 18 months of COBRA benefits.

(5) Assumes reimbursement paid to the executive officer for the maximum amount of $25,000 in outplacement services for which the officer is eligible under the Severance Benefits Plan.

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