Trinity Merger : Third Quarter 2020 Earnings Presentation

Supplemental Earnings Presentation

Third Quarter 2020

AT A GLANCE: BROADMARK REALTY CAPITAL (NYSE - BRMK)

Key Facts

Internally Managed

Real Estate Investment Trust

Rapid Growth of Active Loan Portfolio(3)

	1,400
Millions	$1,326
	$1,184

7.3%

Dividend

Yield(1)

60.4%

$0

Debt

Outstanding(2)

$2.4

billion

1,200

1,000
$930
800

Weighted

Average LTV(2)

Originations

Since

Formation(2)

600

400

$514

213

Active Loans in

Twelve States

and D.C. (2)

0.1%

Historical

Principal

Losses

$273

$196

200 $117

- Dec-14Dec-15Dec-16Dec-17Dec-18Dec-19Sep-20

Note: Historical information throughout this presentation includes combined predecessor companies unless other indicated or the context otherwise requires.

1. Dividend yield based on closing price on November 6, 2020

2. As of September 30, 2020

2

3. Reflects the total face amount as originated or amended while excluding principal paydowns as of September 30, 2020. Active loan portfolio excludes 1 REO.

FINANCIAL HIGHLIGHTS

• Diversified loan portfolio with high equity buffer, industry leading balance sheet with zero debt, and strong liquidity supports expansion into new markets and pursuit of growth opportunities
• 100% fixed rate senior secured assets benefit from a declining interest rate environment(1)

High Quality		Attractive
Assets		Yields

60.4%	12%
Weighted		Weighted
	average fixed
average LTV(2)
	interest rate

12	4.8%
States & D.C.	Weighted
diversification	average fee rate

Strong Balance

Sheet

$0

Debt

$1.2B

Total Assets

Strong

Liquidity

$174M

Cash

57%

Cash to

construction

holdback

1.	Active loan portfolio excluding 1 REO	3
2.	Equal to weighted average LTV across active loan portfolio based on the most recent "as-complete" appraisals

THIRD QUARTER 2020 KEY METRICS

Earnings

Originations

Portfolio

Composition

• GAAP Net Income of $0.18 per diluted common share
• Core Earnings of $0.18 per diluted common share (1)
• Paid $0.18 per diluted common share in total dividends
• Originated 22 loans from 7 states with a total commitment amount of $153.4 million, an increase of 204% from second quarter 2020
• 97% of originations in Q3 is in residential properties
• 61% of originations in Q3 is from repeat borrowers
• Weighted average origination LTV of 60.6%
• Doubled the size of Southeast region with loan closing in October
• Total active loan portfolio at $1.2 billion in total commitment including principal outstanding, interest reserve and construction holdback
• Weighted average LTV of 60.4% on active loan portfolio(2)
• Diversified across 12 states and the District of Columbia
• Diverse collateral weighted towards residential housing

1.	Please refer to Appendix for Core Earnings Reconciliation	4
2.	Equal to weighted average LTV across active loan portfolio based on the most recent "as-complete" appraisals