Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced the sale of a hotel loan during the first quarter of 2026 and resolution of a risk-rated "5" loan during the second quarter. GPMT will release financial results for the quarter ended March 31, 2026, after market close on Tuesday, May 5, 2026. The Company will host a conference call to review the financial results on Wednesday, May 6, 2026, at 11:00 a.m. ET.

Business Update

In March, the Company sold a $12.9 million loan secured by a hotel property located in Kailua-Kona, HI. The loan was sold to a third-party at a price above its outstanding principal balance and GAAP carrying value.
In April, the Company resolved a $76.0 million loan secured by a retail property, located in Chicago, IL, which had included an office component that was previously sold. The loan had been risk-rated "5" and was on nonaccrual status. As a result of this transaction and the prior resolution on the office component, the Company expects to realize a write-off of approximately $(30.1) million, which had been reserved for through a previously recorded $(31.3) million allowance for credit losses as of December 31, 2025, and expects to recognize a GAAP benefit from provision for credit losses of approximately $1.2 million during the first quarter of 2026.

Earnings Call Detail

To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (877) 407-8031, (or (201) 689-8031 for international callers) and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmtreit.com, in the Investors section under the News & Events link. For those unable to attend, a telephone playback will be available beginning Wednesday, May 6, 2026, at 1:00 p.m. ET through Tuesday, May 19, 2026, at 12:00 a.m. ET. The playback can be accessed by calling (877) 660-6853 (or (201) 612-7415 for international callers) and providing the Access Code 13759711. The call will also be archived on the company's website in the Investors section under the News & Events link.

About Granite Point Mortgage Trust Inc.

Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY. Additional information is available at www.gpmtreit.com.

Forward-Looking Statements

This press release contains, or incorporates by reference, not only historical information, but also forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "expect," "target," "believe," "outlook," "potential," "continue," "intend," "seek," "plan," "goals," "future," "likely," "may" and similar expressions or their negative forms, or by references to strategy, plans or intentions. The illustrative examples herein are forward-looking statements. Our expectations, beliefs and estimates are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will prove to be correct or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual Report on Form 10-K for the year ended December 31, 2025, under the caption "Risk Factors," and our subsequent filings made with the SEC. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information

Stockholders of Granite Point and other interested persons may find additional information regarding the Company at the Securities and Exchange Commission's Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 1114 Avenue of the Americas, Suite 3020, New York, NY 10036, telephone (212) 364-5500.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260406326954/en/

Investors: Chris Petta, Investor Relations, Granite Point Mortgage Trust Inc., (212) 364-5500, investors@gpmtreit.com.