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| Balance Sheet by Quarter 17 Certain balances have been reclassified to match current period presentation Q3 2016 Adjusted Book Value per Share was retroactively adjusted for the equivalent number of shares after the reverse merger using an exchange rate of 0.8356 (In millions, except per share values) 9/30/2016(1) 12/31/2016(1) 3/31/2017(1) 6/30/2017(1) 9/30/2017 Assets Cash and cash equivalents $ 38.5 $ 59.6 $ 40.0 $ 63.9 $ 70.6 Restricted cash 15.9 20.2 19.8 17.6 16.1 Short term investments 250.0 320.0 239.9 - 100.0 Loans, net 1,157.1 1,011.1 1,033.8 1,175.4 892.9 Loans, held for sale, at fair value 23.3 181.8 152.2 206.7 200.3 Loans eligible for repurchase from Ginnie Mae - 138.0 117.2 105.2 101.4 Mortgage backed securities, at fair value 34.8 32.4 31.4 43.9 41.4 Servicing rights 23.4 83.8 85.0 86.8 89.4 Assets of consolidated VIEs 554.3 691.1 631.8 597.3 944.9 Other assets 51.4 67.3 176.4 150.2 46.1 Total Assets $ 2,148.7 $ 2,605.3 $ 2,527.5 $ 2,446.9 $ 2,503.1 Liabilities Secured short-term borrowings 809.8 927.5 899.3 837.1 522.8 Promissory note payable, net 9.0 7.4 7.0 6.8 6.5 Securitized debt obligations of consolidated VIEs, net 374.8 492.9 434.1 397.9 680.3 Convertible note, net - - - - 109.4 Senior secured note, net - - 73.4 138.3 138.1 Guaranteed loan financing 415.4 390.6 361.9 332.8 313.4 Contingent consideration - 14.5 8.8 8.9 9.0 Liabilities for loans eligible for repurchase from Ginnie Mae - 138.0 117.2 105.2 101.4 Accounts payable and other accrued liabilities 55.1 82.3 76.0 67.0 67.2 Total Liabilities $ 1,664.1 $ 2,053.2 $ 1,977.7 $ 1,894.1 $ 1,948.1 Stockholders’ Equity Additional paid-in capital 449.5 513.3 513.7 537.4 539.7 Retained earnings (deficit) (4.3) (0.2) (2.6) (4.0) (4.0) Sutherland Asset Management Corporation Equity 448.2 513.1 511.0 533.4 535.7 Non-controlling interests 39.4 39.0 38.8 19.4 19.3 Total Stockholders' Equity 487.9 552.1 549.8 552.8 555.1 Total Liabilities and Stockholders' Equity $ 2,147.3 $ 2,148.7 $ 2,527.5 $ 2,446.9 $ 2,503.1 Adjusted Book Value per Share(2) $ 17.21 $ 16.80 $ 16.73 $ 16.67 $ 16.68 |