NYMT acquires remaining 50% stake in Constructive Loans, boosting business-purpose lending platform

ADAMAS TRUST, INC.

All-cash acquisition of remaining 50% ownership in Constructive Loans, a business-purpose loan originator.
Constructive originated >$1.7B in loans in LTM ended June 30, 2025.
Constructive operates as independent subsidiary; leadership team remains in place.
Builds on 2021 initial investment; part of strategy to diversify recurring earnings.

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