TWO HARBORS INVESTMENT CORP.

Two Harbors Investment Corp. is a Maryland corporation founded in 2009 that invests in, finances, and manages mortgage servicing rights (MSR) and Agency residential mortgage-backed securities (RMBS). Through its operational platform, RoundPoint Mortgage Servicing LLC, the company is one of the largest servicers of conventional loans in the country. Agency refers to U.S. government sponsored enterprises like Fannie Mae or Freddie Mac, or a U.S. government agency such as Ginnie Mae. Two Harbors is structured as an internally-managed real estate investment trust (REIT) and its common stock is listed on the New York Stock Exchange (NYSE) under the symbol "TWO." The company leverages its core competencies in understanding and managing interest rate and prepayment risk to invest in its portfolio of MSR and Agency RMBS. Its objective is to deliver more stable performance, relative to RMBS portfolios without MSR, across changing market environments. Two Harbors has elected to be treated as a REIT for U.S. federal income tax purposes, which requires meeting certain investment and operating tests and annual distribution requirements. The company generally avoids U.S. federal income taxes on its taxable income by distributing all net taxable income to stockholders, avoiding prohibited transactions, and maintaining its REIT qualification. Certain activities may generate non-qualifying income for REIT purposes, which are conducted through designated taxable REIT subsidiaries (TRSs).