TPG Mortgage Investment Trust, Inc.

and thank you for standing by. Welcome to the AG Mortgage Investment Trust Inc. Third Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's remarks, there will be a question and answer session. In order to ask a question during the session, please press the star key followed by the number one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star, then zero. I'd now like to turn the call over to Jenny Neslin, General Counsel for the company. Please go ahead.

Thank you. Good morning, everyone, and welcome to the third quarter 2025 earnings call for AEG Mortgage Investment Trust. With me on the call today are T.J. Durkin, our CEO and President, Nick Smith, our Chief Investment Officer, and Anthony Rossiello, our Chief Financial Officer. Before we begin, please note that the information discussed in today's call may contain forward-looking statements. Any forward-looking statements made during today's call are subject to certain risks and uncertainties, which are outlined in our SEC filings, including under the headings cautionary statement regarding forward-looking statements, risk factors, and management discussion and analysis. The company's actual results may differ materially from these statements. We encourage you to read the disclosure regarding forward-looking statements contained in our SEC filings. including our most recently filed Form 10-K for the year ended December 31, 2024, and our subsequent reports filed from time to time with the SEC. Except as required by law, we are not obligated and do not intend to update or to revise or review any forward-looking statements, whether as a result of new information, future events, or otherwise. During the call today, we will refer to certain non-GAAP financial measures, please refer to our SEC filings for reconciliation to the most comparable gap measures. We will also reference the earnings presentation that was posted to our website this morning. To view the slide presentation, turn to our website, www.agmit.com, and click on the link for the Q3 2025 earnings presentation on the homepage. Again, welcome to the call, and thank you for joining us today. With that, I'd like to turn the call over to TJ.

Thank you, Jenny. I'm pleased to report MIT's third quarter results in which the company had one of its most active and successful quarters in recent memory. During the third quarter, we were able to increase our bulk value from $10.39 to $10.46, inclusive of our previously announced strategic acquisition of an additional 0.4% of ARCOM through the issuance of approximately 2 million shares, creating a one-time dilution event of 1.8%. while also fully supporting our 21-cent dividend. The company continues to provide stability and book value performance, navigating both challenging markets and executing on growth initiatives like the one I just mentioned. We continue to believe growing the company's size and flow is in the long-term best interest of its shareholders. Moving on to earnings, we increased our EAD to 23 cents per share, driven by strong earnings from our core investment portfolio. in this first quarter with our larger ownership percentage of our home we are happy to report it contributed three cents towards EAD as the business continues to execute on its growth and profitability objectives lastly it is important to note we were able to deliver this growth in EAD despite turning off the accrual of our legacy WMC CRE loans this year as we work through the monetization process So as we look forward, the ability to rotate this equity capital currently invested in the CRE loans into our residential securitization strategy, combined with ARCOM's profits, should enable us to unlock even more earnings power from our portfolio in the coming quarters. I'll now turn the call over to Nick. Thanks, TJ.