PennyMac Mortgage Investment Trust (NYSE: PMT) today announced that it is offering 11,300,000 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 1,695,000 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 its business and investment activities, which may include the acquisition of distressed mortgage loans or other investments; the funding of its correspondent lending business, including the purchase of jumbo loans; the repayment of indebtedness; and for general corporate purposes. Citigroup, Credit Suisse Securities (USA) LLC, J.P. Morgan and Morgan Stanley are acting as the underwriters for the offering. The offering of these common shares may be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained by contacting: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (800) 831-9146 or Email: firstname.lastname@example.org; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, Telephone: (800) 221-1037 or Email: email@example.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (866) 803-9204; or Morgan Stanley & Co. LLC, 180 Varick Street, 2 nd floor, New York, New York 10014, Attention: Prospectus Department, Telephone: (866) 718-1649 or Email: firstname.lastname@example.org. 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.