Invesco Mortgage Capital Inc. — Q3 2026 Earnings Summary

Financial Performance

• Total investment portfolio, including TBAs, stood at $8.0 billion as of September 30, 2026.
• Unrestricted cash and unencumbered investments totaled $401.3 million.
• Total repurchase agreement borrowings were $6.8 billion.
• Estimated book value per common share was $6.74, calculated by deducting the $168.1 million liquidation preference of Series C Preferred Stock from total stockholders' equity and dividing by 109.1 million common shares outstanding.
• GAAP debt-to-equity ratio was 7.6x.
• Economic debt-to-equity ratio, a non-GAAP measure including TBAs at implied cost basis ($674.1 million), was 8.3x.
• The press release contains preliminary, unaudited month-end data subject to potential material revisions during the quarter-end closing process.

Business Segments and Product Lines

• The portfolio consists of 83.2% Agency 30-year fixed-rate pass-through coupons, with the largest allocation in the 5.0% coupon tranche (25.1% of portfolio) and 5.5% coupon tranche (24.6% of portfolio).
• Agency CMBS comprised 8.5% of the portfolio with a period-end weighted average yield of 4.68%.
• TBAs at implied market value represented 8.3% of the portfolio, primarily in 6.0% (5.5%) and 5.5% (2.0%) coupon tranches.
• The total portfolio had a period-end weighted average yield of 5.34% based on amortized cost.
• Borrowings were entirely in repurchase agreements for Agency MBS, totaling $6.84 billion with a weighted average interest rate of 3.97% and a weighted average remaining maturity of 20 days.
• Interest rate swaps with a total notional amount of $5.185 billion were used to hedge interest rate risk, with a weighted average fixed pay rate of 2.72% and a weighted average floating receive rate of 3.90%.
• U.S. Treasury futures contracts totaled $1.605 billion in notional short positions, including 10-year, Ultra 10-year, and 30-year contracts.

Other Key Points

• The Company declared a cash dividend of $0.12 per share of common stock for October 2026.
• The dividend is payable on November 16, 2026, to stockholders of record at the close of business on October 26, 2026, with an ex-dividend date of October 26, 2026.
• The Company is externally managed and advised by Invesco Advisers, Inc., an indirect wholly-owned subsidiary of Invesco Ltd.
• Independent auditors have not audited, reviewed, or expressed an opinion on the preliminary financial figures presented in this release.