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PennyMac Mortgage Investment Trust 8% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares

Coupon is fixed at 8% until 6/15/2024 after which time it will begin to float at 3 month Libor plus a spread of 5.99%

Ticker: PMT-B

Parent Ticker: PMT

OTC Grey Market Temporary Ticker: NA

Issuance Date: 06/27/2017

1st Call Date: 06/15/2024

Maturity Date: None

Shares Issued: 7,000,000

Overallotment Shares: 1,050,000

Coupon: 8.00%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.50

Payment Months: MAR, JUN, SEP, DEC

Payment Day: 15

S&P Rating: NR

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: NR

Fitch Rating: NR