TWO HARBORS INVESTMENT CORP.

UWM Holdings Corporation (UWMC) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (UWM), which is the largest overall residential mortgage lender and the largest purchase lender in the U.S. by closed loan volume. UWM originates loans exclusively through the wholesale channel across all 50 states and the District of Columbia, focusing primarily on conforming and government loans. Founded in 1986 and headquartered in Pontiac, Michigan, the company operates with a client-focused culture, providing customer service, efficiency, and operational stability to Independent Mortgage Brokers. UWM Holdings Corporation began trading on the New York Stock Exchange (NYSE) on January 22, 2021, under the ticker symbol "UWMC," following its business combination with Gores Holdings IV, Inc. on January 21, 2021. The company's strategy is to operate solely as a Wholesale Mortgage Lender, avoiding direct competition with Independent Mortgage Brokers for borrower relationships. This approach aims to generate higher loyalty and satisfaction from its broker clients, who then direct a growing share of residential mortgage volume. The business model is centered on the origination business, with a specific focus on purchase loans, which historically experience less volatility from interest rate movements compared to refinancing mortgage loan origination volume.