Company: TWO-PC
Filing Date: 2025-11-12
Form Type: POSASR
Source: 0001104659-25-110386
Chunk: 2

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-11-12
Form: POSASR
Chunk 2
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center'>PART II
INFORMATION NOT REQUIRED IN PROSPECTUS</div>

Item 14. Other Expenses of Issuance and Distribution.

The following table shows
the fees and expenses to be paid by Two Harbors Investment Corp. in connection with the sale and distribution of the securities being
registered hereby.

|                                                   |     | Amount to be paid |   |
|:--------------------------------------------------|:----|:------------------|--:|
| Registration Fee under the Securities Act of 1933 |     | $                 | 0 |
| Accounting fees and expenses                      |     |                   | * |
| Legal fees and expenses (including Blue Sky fees) |     |                   | * |
| Transfer agent fees and expenses                  |     |                   | * |
| Printing expenses                                 |     |                   | * |
| Miscellaneous expenses                            |     |                   | * |
| Total                                             |     | $                 | * |

* These fees are calculated based on the number
of issuances and the amount of securities sold and, accordingly, cannot be estimated or calculated at this time.

Item 15. Indemnification of Directors and Officers.

Maryland law permits a Maryland
corporation to include in its charter a provision eliminating the liability of its directors and officers to the corporation and its stockholders
for money damages, except for liability resulting from (1) actual receipt of an improper benefit or profit in money, property or services
or (2) active and deliberate dishonesty established by a final judgment as being material to the cause of action. Our charter contains
such a provision that eliminates such liability to the maximum extent permitted by Maryland law.

The Maryland General Corporations
Law, or MGCL, requires us (unless our charter provides otherwise, which our charter does not) to indemnify a director or officer who has
been successful, on the merits or otherwise, in the defense of any proceeding to which he or she is made or threatened to be made a party
by reason of his or her service in that capacity. The MGCL permits a corporation to indemnify its present and former directors and officers,
among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any
proceeding to which they may be made or threatened to be made a party by reason of their service in those or other capacities unless it
is established that:

| · | the act or omission of the director or officer was material                                                                               
 to the matter giving rise to the proceeding