REDWOOD TRUST INC

The Company announced that on November 3, 2026, the Board unanimously approved a reverse stock split of its outstanding shares of Common Stock, at a ratio of one-for-five (the “Reverse Stock Split”). The Reverse Stock Split is expected to take effect at 5:00 p.m. Eastern Time on December 31, 2026 (the “Effective Time”).

As a result of the Reverse Stock Split, at the Effective Time, every five (5) issued and outstanding shares of Common Stock, par value $0.01 per share, will be converted into one (1) share of Common Stock, par value $0.05 per share. The charter amendment effecting the Reverse Stock Split will further provide that the par value of the outstanding shares of Common Stock will be changed from $0.05 per share (as a result of the Reverse Stock Split) back to $0.01 per share. Trading in the Common Stock on a split-adjusted basis is expected to begin at the market open on January 4, 2027.

The Common Stock will continue trading on the New York Stock Exchange under the symbol “RWT,” but will be assigned a new CUSIP number.

The number of shares of the Company’s Series A preferred stock outstanding and their preference amount and dividend rate will not be affected by the Reverse Stock Split.

No fractional shares will be issued in connection with the Reverse Stock Split. The Reverse Stock Split will apply to all of the outstanding shares of Common Stock as of the Effective Time and therefore will not affect any stockholder’s ownership percentage of shares of Common Stock, except forde minimis changes resulting from the payment of cash in lieu of fractional shares.