AGNC Investment Pref Share AGNC 6.5 Prep 10/15/24 E | 8-K: FY2025 Q2 EPS: USD -0.17

EPS: As of FY2025 Q2, the actual value is USD -0.17.

Financial Metrics Summary

Total Comprehensive Loss

• Total comprehensive loss for the second quarter of 2025 was - $0.13 per share of common stock, comprised of - $0.17 net loss per common share and $0.05 other comprehensive income per common share on investments marked-to-market through OCI.

Tangible Net Book Value

• Tangible net book value was $7.81 per share of common stock as of June 30, 2025, excluding $526 million, or $0.50 per common share, of goodwill.

Investment Portfolio

• The fair value of the investment portfolio was $82.3 billion as of June 30, 2025, inclusive of net forward purchases and sales of Agency mortgage-backed securities in the TBA market.

Leverage Ratio

• Tangible net book value ‘at risk’ leverage ratio was 7.6x as of June 30, 2025.

Economic Return

• Economic return on tangible common equity was -1.0% for the second quarter, comprised of $0.36 dividend per share of common stock declared and - $0.44 decrease in tangible net book value per common share.

Cash and Unencumbered Agency MBS

• Cash and unencumbered Agency MBS totaled $6.4 billion as of June 30, 2025.

Common Equity Issuance

• Issued 92.6 million shares of common equity through At-the-Market Offerings for net proceeds of $799 million.

Outlook / Guidance

• AGNC continues to have a favorable outlook for levered and hedged Agency MBS investments. Mortgage spreads to benchmark rates remain elevated by historical standards and range-bound, creating a favorable return environment. The administration has reiterated its intent to preserve Agency MBS’ pristine credit profile and to maintain or reduce current mortgage spreads to benchmark rates.