Investor Presentation

Claros Mortgage Trust, Inc. (CMTG)

March 2024

The properties above are not representative of all transactions.

CMTG Snapshot

$6.9 billion

$2.3 billion

$238 million

Loan Portfolio 1

Equity Book Value

Total Liquidity 2

98%

98%

69.2%

Weighted Average

Senior Loans 1,4

Floating Rate Loans 1

Portfolio LTV 5

See Endnotes in the Appendix.

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

9.1%

Weighted Average

All-In Yield 3

2.4x

Net Debt / Equity

Ratio 6

PAGE 1

Mack Real Estate Group

Integrated real estate investor, operator,

developer and lender

Invests institutional and high net worth

capital in real estate equity and debt assets

The firm's principals have decades of global

real estate investing experience

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 2

Mack Real Estate Group Businesses

Real Estate

Multifamily and Industrial Investments1

Equity

29

("MREG")

~9,000

~5.0

Development and ownership

office, and other asset

investments

of multifamily, industrial,

potential units2

million industrial SF2

classes

Property

Comprehensive Property Management Services

Management

("MPM")

~5,000 units

3.6M SF

150+ staff

Property management of

MREG and third-party owned

under management

of commercial and industrial space

located across the U.S.

under management

residential and commercial

assets

Levered Transitional Credit

Unlevered Transitional Credit

High Yield Levered

Real Estate

Transitional Credit

Investments

Investments

Investments

Credit

~$3.0B

$250M

~$900M

("MRECS")

and other debt investments

of investor capital raised since inception

of investor capital raised since inception

of investor capital raised since inception

$18.0B

$52.5M

$2.0B

Direct lending (first mortgage,

mezzanine, preferred equity)

of credit investments originated, co-originated

of credit investments originated, co-originated

of credit investments originated, co-originated

or acquired

or acquired

or acquired

As of September 30, 2023.

  1. Includes realized investments.
  2. Unit count, square footage, and other figures concerning development characteristics reflect assets in various stages of development, including actual unit count for completed construction as well as estimated unit count for development projects that are not yet completed. Such estimated figures are based on expectations, estimates, and projections and no party provides any guarantee or assurance that these projections are accurate. Actual results may vary significantly from those reflected or contemplated. Similarly, there is no guarantee that MREG will ultimately develop the assets in accordance with the development plans as presented herein. Please read the Important Notices at the beginning of this presentation for additional important information concerning, among other things, forward-looking statements.

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 3

MREG National Presence

5

offices

Integrated platform with investment, development,

property management and lending activities across the United States

250+

employees

Seattle

WA

NV

UT

CO

CA

AZ

Phoenix

MI

NY

MA

PA

CT

IL

New York City

MD

VA

TN

NC

Raleigh

GA

TX

FL

Miami

Mack Real Estate Group, LLC Office

MREG / MRECS Investments and/or Mack Property Management, L.P. (MPM) Presence

Includes employees across the firm's credit, equity, development, and property management business as of the date on this presentation.

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 4

CMTG Overview

Focus on transitional loan opportunities secured by high quality CRE assets, generally with institutional-grade sponsorship, located in major U.S. markets where MREG has infrastructure and / or experience

PLATFORM

Roots in real estate development and operations dating back to the 1960s

Managed by experienced operator with integrated credit, equity, development and property management business

Established and scaled platform with demonstrated track record

KEY DIFFERENTIATORS

"Ownership mindset" investment approach

Well-capitalized, institutional borrowers

Markets with local intelligence / experience / expertise

Focus on downside protection; highly structured loans with credit support

Proactive asset management with a focus on staying ahead of the borrower

Utilize modest leverage

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 5

Loan Portfolio Overview

Key Portfolio Metrics7,b

December 31,

September 30,

2023

2023

Loan Portfolio1

$6.9Bn

$7.1Bn

Total Loan Commitments8

$8.1Bn

$8.5Bn

Number of Loans

65

69

LTV5

69.2%

68.8%

Average Commitment Size

~$120MM

~$120MM

Weighted Average All-In Yield3

9.1%

9.5%

Floating Rate Loans1

98%

98%

Senior Loans1,4

98%

98%

100%

80%

60%

40%

20%

0%

100%

80%

60%

40%

20%

0%

Collateral Diversification1,7

41%

41%

19%

19%

14%

13%

9%

8%

7%

8%

3%

5%

7%

6%

31-Dec-23

30-Sep-23

Geographical Diversification1,7

23%

23%

22%

22%

9%

8%

8%

7%

8%

7%

31%

33%

31-Dec-23

30-Sep-23

Multi-family

Hospitality

Office

Mixed-usea

Land

For Sale Condo

Other

CA

NY

TX

VA / DC

GA

Other

a. At December 31, 2023, mixed-use comprises of 3% office, 2% retail, 2% multifamily, 1% hospitality, and immaterial amounts of for sale condo. .

Mixed-use allocations are based upon allocable square footage except where another method is deemed more appropriate under the applicable facts and circumstances.

  1. Excludes three loans held-for-sale.

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 6

Loan Portfolio Overview (cont'd)

$ amounts in millions

Region Exposure by Carrying Value and as a % of Total Carrying Value

Collateral Type

Number of Loans

Carrying

% of Total

West

Northeast

Southeast

Mid Atlantic

Southwest

Midwest

Other

Value1

Carrying Value

Multi-family

22

$2,829

41%

$1,388 / 20%

$390 / 6%

-

$266 / 4%

$505 / 7%

$282 / 4%

-

Hospitality

9

$1,339

19%

$605 / 9%

$450 / 6%

$284 / 4%

-

-

-

-

Office

9

$962

14%

$251 / 4%

$272 / 4%

$225 / 3%

-

$88 / 1%

$125 / 2%

-

Mixed-usea

5

$597

9%

-

$195 / 3%

$103 / 1%

$299 / 4%

-

-

-

Land

6

$518

7%

-

$368 / 5%

$30

/ 0%

$120 / 2%

-

-

-

For Sale Condo

2

$220

3%

$209 / 3%

$11 / 0%

-

-

-

-

-

Other b

12

$483

7%

$66 / 1%

$176 / 3%

$93

/ 1%

$76 / 1%

-

$70 / 1%

$2 / 0%

Total

65

$6,948

100%

$2,519 / 35%

$1,861 / 27%

$735

/ 11%

$762 / 11%

$592 / 9%

$477 / 7%

$2 / 0%

Totals may not foot due to rounding.

a.

At December 31, 2023, mixed-use comprises of 3% office, 2% retail, 2% multifamily, 1% hospitality, and immaterial amounts of for sale condo.

.

Mixed-use allocations are based upon allocable square footage except where another method is deemed more appropriate under the applicable facts and circumstances.

b.

Includes five loans secured by a portfolio of build-to-rent homes, representing $166 million in loan commitments and $94 million in unpaid principal balance.

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 7

Financial Overview

  • During the quarter: GAAP net income of $34.0 million, or $0.24 per share; distributable earnings of $36.9 million, or $0.26 per share; and distributable earnings prior to realized gain and principal charge-off of $44.4 million, or $0.31 per share 9
  • Paid a cash dividend of $0.25 per share for the fourth quarter of 2023

Key Financial Metrics

4Q-

3Q-

2Q-

1Q-

Total

2023

2023

2023

2023

2023

GAAP Net Income (Loss) ($MM)

$34.0

$(68.9)

$4.3

$36.7

$6.0

Per Share

$0.24

$(0.50)

$0.02

$0.26

$0.02

Distributable Earnings (Loss) ($MM)9

$36.9

$(22.8)

$(14.5)

$40.3

$39.9

Per Share

$0.26

$(0.16)

$(0.10)

$0.29

$0.28

Distributable Earnings prior to realized gains and principal charge-offs ($MM)9

$44.4

$49.6

$50.3

$40.3

$184.5

Per Share

$0.31

$0.35

$0.35

$0.29

$1.31

Dividends ($MM)

$35.3

$35.3

$52.4

$52.4

$175.5

Per Share

$0.25

$0.25

$0.37

$0.37

$1.24

Book Value ($MM)

$2,299.9

$2,296.7

$2,400.4

$2,444.2

Per Share

$16.28

$16.25

$16.94

$17.26

Adjusted Book Value per Share10

$17.03

$17.00

$17.64

$17.96

Net Debt / Equity Ratio6

2.4x

2.3x

2.3x

2.2x

Total Leverage Ratio11

2.8x

2.7x

2.7x

2.6x

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 8

Financing Mix

  • Total financing capacity decreased to $7.3 billion from $7.8 billion at September 30, 2023; undrawn capacity decreased to $1.6 billion from $2.1 billion at September 30, 202312
  • Unencumbered loan assets totaled $433 million (93% senior mortgages); unencumbered REO asset with a carrying value of $147.1 million a
  • Net debt / equity ratio of 2.4x and total leverage ratio of 2.8x as of December 31, 2023, increased slightly from September 30, 2023 6,11

Leverage Ratios6,11

3.0x

2.7x

2.7x

2.8x

2.6x

2.5x

2.2x

2.3x

2.3x

2.4x

2.0x

1.5x

1.0x

0.5x

0.0x

1Q-2023

2Q-2023

3Q-2023

4Q-2023

Net Debt / Equity Ratio

Total Leverage Ratio

Summary of Outstanding Financing

UPB at

Weighted

$ amounts in millions

Capacity

December 31,

Average

2023

Spread13

Repurchase agreements and

$5,710

$4,271

2.76%

term participation facility

Asset Specific Financing

$541

$407

3.41%

Secured Term Loan

$725

$725

4.50%

Debt Related to REO

$290

$290

2.83%

Total as of 4Q-2023

$7,266

$5,694

3.03%

a. Total carrying value includes acquired lease intangibles, net of accumulated depreciation.

CLAROS MORTGAGE TRUST, INC. INVESTOR PRESENTATION - MARCH 2024

PAGE 9

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Claros Mortgage Trust Inc. published this content on 05 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2024 16:22:05 UTC.