Ladder Capital Corp Reports Results for the Quarter Ended March 31, 2025

Ladder Capital Corp (NYSE:LADR) ("we," "our," "Ladder," or the "Company") today announced operating results for the quarter ended March 31, 2025. GAAP income before taxes for the three months ended March 31, 2025 was $10.7 million, and diluted earnings per share ("EPS") was $0.09. Distributable earnings was $25.5 million, or $0.20 of distributable EPS.

"We are pleased with our first quarter results and the overall strength of Ladder's balance sheet after a record year of loan payoffs in 2024. Our origination efforts continue to build momentum, with new loans outpacing payoffs in the first quarter as we remain modestly levered and flush with liquidity to invest in opportunities as they arise," said Brian Harris, Ladder's Chief Executive Officer.

On April 23, 2025, the board of directors authorized the repurchase of $100.0 million of the Company's Class A common stock from time to time without further approval. This authorization increased the remaining outstanding authorization per the April 24, 2024 authorization from $66.8 million to $100.0 million.

Supplemental

The Company issued a supplemental presentation detailing its first quarter 2025 operating results, which can be viewed at http://ir.laddercapital.com.

Conference Call and Webcast

We will host a conference call on Thursday, April 24, 2025 at 10:00 a.m. Eastern Time to discuss first quarter 2025 results. The conference call can be accessed by dialing (877) 407-4018 domestic or (201) 689-8471 international. Individuals who dial in will be asked to identify themselves and their affiliations. For those unable to participate, an audio replay will be available until midnight on Thursday, May 8, 2025. To access the replay, please call (844) 512-2921 domestic or (412) 317-6671 international, access code 13753048. The conference call will also be webcast though a link on Ladder's Investor Relations website at ir.laddercapital.com/event. A web-based archive of the conference call will also be available at the above website.

About Ladder

Ladder is a leading diversified commercial real estate finance platform that specializes in underwriting commercial real estate across the capital stack. With $4.5 billion of assets, our investment objective is to preserve and protect shareholder capital while generating attractive risk-adjusted returns.

Since 2008, we have invested over $47 billion in debt and equity, serving both institutional and middle-market clients. Our primary business is originating fixed and floating rate first mortgage loans secured by all commercial real estate property types. We also own and operate commercial real estate, including net leased commercial properties, and we invest in investment grade securities secured by first mortgage loans on commercial real estate.

We are internally managed and members of our management team and board of directors collectively own more than 11% of Ladder's equity, making them the Company's largest shareholder and aligning their interests closely with fellow stakeholders. Since our founding, their vision has been to support the Company's investment platform with a conservative and durable capital structure. Our industry-leading credit ratings reflect this differentiated financing strategy.

Ladder is headquartered in New York City with a regional office in Miami, Florida. All amounts in this section are as of March 31, 2025.

Forward-Looking Statements

Certain statements in this release may constitute "forward-looking" statements. These statements are based on management's current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Ladder believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results on the Company's business. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading "Risk Factors" in each of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as well as its consolidated financial statements, related notes, and other financial information appearing therein, and its other filings with the U.S. Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release. Ladder expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.