Starwood Property Trust, Inc.

Starwood Property Trust, Inc. ( STWD and, together with its subsidiaries, we or the Company ) is a Maryland corporation that commenced operations in August 2009, upon the completion of our initial public offering ( IPO ). We are focused primarily on originating, acquiring, financing and managing mortgage loans and other real estate investments in the United States ( U.S. ), Europe and Australia. As market conditions change over time, we may adjust our strategy to take advantage of changes in interest rates and credit spreads as well as economic and credit conditions. We have four reportable business segments as of December 31, 2025 and we refer to the investments within these segments as our target assets: Real estate commercial and residential lending (the Commercial and Residential Lending Segment ) engages primarily in originating, acquiring, financing and managing commercial first mortgages, non-agency residential mortgages ( residential loans ), subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities ( CMBS ), residential mortgage-backed securities ( RMBS ) and other real estate and real estate-related debt investments in the U.S., Europe and Australia (including distressed or non-performing loans). Our residential loans are secured by a first mortgage lien on residential property and primarily consist of non-agency residential loans that are not guaranteed by any U.S. Government agency or federally chartered corporation.