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PennyMac Mortgage Investment Trust Announces Offering Of Common Shares

PennyMac Mortgage Investment Trust (NYSE: PMT) today announced that it is offering 12,000,000 common shares of beneficial interest (“shares”) in an underwritten public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 1,800,000 shares from the Company. All of the shares will be offered by the Company and will be issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission.

The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for a portfolio of residential whole mortgage loans (if such acquisition is completed), to fund the continued growth of its correspondent lending business, to acquire additional mortgage loans or other investments, including those under existing forward purchase agreements, and for general corporate purposes.

BofA Merrill Lynch, Citigroup and Credit Suisse Securities (USA) LLC are acting as the underwriters for the offering.

The offering of these securities may be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained by contacting: BofA Merrill Lynch, 222 Broadway, 7th Floor, New York, New York 10038, Attention: Prospectus Department, Email:  dg.prospectus_requests@baml.com; Citigroup, Brooklyn Army Terminal, 140 58 th Street, 8 th Floor, Brooklyn, New York 11220, Attention: Prospectus Department, Telephone: 800-831-9146; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, Telephone: 800-221-1037, Email: newyork.prospectus@credit-suisse.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

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