On March 27, 2024, Starwood Property Trust, Inc. closed its private offering of $600 million aggregate principal amount of its 7.250% unsecured senior notes due 2029 (the ?Notes?), which priced on March 13, 2024. The Notes were issued under an indenture, dated as of March 27, 2024 (the ?Indenture?), between the Company and The Bank of New York Mellon, as trustee. The Notes were issued in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the ?Securities Act?), to qualified institutional buyers within the United States in accordance with Rule 144A under the Securities Act and to non-U.S. persons in offshore transactions in accordance with Regulation S under the Securities Act.

The Notes are subject to restrictions on transfer and may only be offered or sold in transactions exempt from or not subject to the registration requirements of the Securities Act and other applicable securities laws. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Net proceeds allocated to previously incurred costs associated with eligible green and/or social projects will be available for the repayment of indebtedness previously incurred.

Pending full allocation of an amount equal to the net proceeds to eligible green and/or social projects, the Company intends to use the net proceeds for general corporate purposes, including the repayment of outstanding indebtedness under the Company?s repurchase facilities. The Notes are senior unsecured obligations of the Company and will mature on April 1, 2029. The Notes bear interest at a rate of 7.250% per year.

Interest on the Notes will be paid semi-annually in arrears on each April 1 and October 1, commencing October 1, 2024, to the persons who are holders of record of the Notes on the preceding March 15 and September 15, respectively.