Company: MITN
Filing Date: 2025-08-15
Form Type: S-3
Source: 0001514281-25-000099
Chunk: 38

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-15
Form: S-3
Chunk 38
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) such subsidiary REIT would become subject to regular federal corporate income tax, as described herein, see “—Failure to Qualify” below, and (2) our ownership of shares in such subsidiary REIT would cease to be a qualifying real estate asset for purposes of the 75% asset test and would become subject to the 5% asset test, the 10% vote test, and the 10% value test generally applicable to our ownership in corporations other than REITs, qualified REIT subsidiaries and TRSs. See “—Asset Tests” below. If any subsidiary REIT were to fail to qualify as a REIT, it is possible that we would not meet the 10% vote test and the 10% value test with respect to our indirect interest in such entity, in which event we would fail to qualify as a REIT unless we could avail ourselves of certain relief provisions. While we believe that each subsidiary REIT has qualified as a REIT under the Code, we may join each subsidiary REIT in filing a “protective” TRS election with respect to such subsidiary REIT. We cannot assure you that any such “protective” TRS election would be effective to avoid adverse consequences to us. Moreover, even if a “protective” election were to be effective, a subsidiary REIT would be subject to regular federal corporate income tax, and we cannot assure you that we would not fail to satisfy the requirement that not more than 20% of the value of our total assets may be represented by the securities of one or more TRSs, as well as the requirement that taxable income from our TRSs plus other non‐qualifying gross income not exceed 25% of our total gross income.

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Taxable Mortgage Pools and Excess Inclusion Income

An entity, or a portion of an entity, that does not elect to be treated as a REMIC may be classified as a taxable mortgage pool under the Code if:

• substantially all of its assets consist of debt obligations or interests in debt obligations;

• more than 50% of those debt obligations are real estate mortgage loans or interests in real estate mortgage loans as of specified testing dates;

• the entity has issued debt obligations that have two or more maturities; and

• the payments required to be made by the entity on its debt obligations “bear a relationship” to the payments to be received by the entity on the debt obligations that it holds as assets.

Under applicable Treasury