PennyMac Mortgage Investment Trust announced the pricing of a private offering of secured term notes (the ?Notes?) in an aggregate principal amount of $355 million issued by the Company?s indirect subsidiary, PMT ISSUER TRUST ? FMSR. The Notes mature on December 27, 2027 and were priced at SOFR + 2.75%. The majority of the Notes were placed with funds and accounts managed by PGIM Fixed Income, a Prudential Financial company.

Proceeds are expected to be used to redeem $305 million of previously-issued term notes priced at SOFR + 4.19% due to mature on June 25, 2027. The Notes will not be registered under the Securities Act of 1933 (the ?Securities Act?) or offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.