Two Harbors settles Pine River litigation for $375M, declares Q3 dividend $0.34/share

TWO HARBORS INVESTMENT CORP.

Resolved all claims with Pine River for a one-time cash payment of $375M, payable within 30 days.
Estimated book value per common share of $12.73 as of Aug 15, 2025; adjusted to $11.06 after settlement.
Signed term sheet with new subservicing client, adding ~$20B UPB in MSR; third-party subservicing rises to $31B.
Declared Q3 2025 common dividend of $0.34 per share, payable Oct 29 to holders of record Oct 3.
Preferred dividends declared: Series A $0.50781, B $0.47656, C $0.61250, payable Oct 27.

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