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First Quarter 2017 Investor Presentation
Safe Harbor Statement
FORWARD-LOOKING STATEMENTS
This presentation includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act
of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as
predictions of future events. Words such as “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,”
“could,” “should,” “believe,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-
looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among other things,
those described in our Annual Report on Form 10-K for the year ended December 31, 2016, and any subsequent Quarterly Reports on Form 10-Q, under the caption
“Risk Factors.” Factors that could cause actual results to differ include, but are not limited to: the state of credit markets and general economic conditions; changes in
interest rates and the market value of our assets; changes in prepayment rates of mortgages underlying our target assets; the rates of default or decreased recovery
on the mortgages underlying our target assets; the occurrence, extent and timing of credit losses within our portfolio; the concentration of credit risks we are exposed
to; declines in home prices; our ability to establish, adjust and maintain appropriate hedges for the risks in our portfolio; the availability and cost of our target assets;
the availability and cost of financing; changes in the competitive landscape within our industry; our ability to effectively execute and to realize the benefits of strategic
transactions and initiatives we have pursued or may in the future pursue; our ability to manage various operational risks and costs associated with our business;
interruptions in or impairments to our communications and information technology systems; our ability to acquire mortgage servicing rights (MSR) and successfully
operate our seller-servicer subsidiary and oversee our subservicers; the impact of any deficiencies in the servicing or foreclosure practices of third parties and related
delays in the foreclosure process; the state of commercial real estate markets and our ability to acquire or originate commercial real estate loans or related assets; our
exposure to legal and regulatory claims; legislative and regulatory actions affecting our business; the impact of new or modified government mortgage refinance or
principal reduction programs; our ability to maintain our REIT qualification; and limitations imposed on our business due to our REIT status and our exempt status
under the Investment Company Act of 1940.
Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Two Harbors does not undertake or
accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statement is based. Additional information concerning these and other risk factors is contained in Two Harbors’ most
recent filings with the Securities and Exchange Commission (SEC). All subsequent written and oral forward-looking statements concerning Two Harbors or matters
attributable to Two Harbors or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.
This presentation may include industry and market data obtained through research, surveys, and studies conducted by third parties and industry publications. We
have not independently verified any such market and industry data from third-party sources. This presentation is provided for discussion purposes only and may not be
relied upon as legal or investment advice, nor is it intended to be inclusive of all the risks and uncertainties that should be considered. This presentation does not
constitute an offer to purchase or sell any securities, nor shall it be construed to be indicative of the terms of an offer that the parties or their respective affiliates
would accept.
Readers are advised that the financial information in this presentation is based on company data available at the time of this presentation and, in certain
circumstances, may not have been audited by the company’s independent auditors.
2
Two Harbors Investment Corp. Overview (1)
LEADING HYBRID MORTGAGE REIT PROVIDING STRONG RISK - ADJUSTED RETURNS
3
1) Except as otherwise indicated in this presentation, reported data is as of or for the period ended March 31, 2017.
2) Includes Agency and non-Agency RMBS, inverse-interest only securities (Agency Derivatives), commercial real estate debt and related instruments, MSR, net economic interest in securitization trusts and residential mortgage loans held-for-
sale.
3) Two Harbors’ total stockholder return calculated for the period October 29, 2009 through March31, 2017. Total stockholder return is defined as stock price appreciation including dividends. Source: Bloomberg.
•$3.3 billion market cap
•$20.0 billion portfolio(2)
•Incorporated in 2009
MARKET PRESENCE
•Agency and non-Agency RMBS
•Mortgage Servicing Rights
•Commercial Real Estate Assets
INVESTMENT PORTFOLIO
•Low leverage
•Strong repo counterparties
•Long-maturity FHLB financing
FINANCING & LIQUIDITY
•Sophisticated approach to hedging
•Low exposure to rates and prepayment speeds
•Superior asset selection
RISK MANAGEMENT
•Total stockholder return since inception of 176%(3)
•Top performer during times of volatility
LEADING PERFORMANCE
LEADING HYBRID MREIT
VALUE APPROACH TO
PORTFOLIO MANAGEMENT
DIVERSIFIED FINANCING
PROFILE AND STRONG
BALANCE SHEET
HIGH QUALITY RETURNS
WITH LESS VOLATILITY
OUTPERFORMED PEER
GROUP
-20.0%
10.0%
40.0%
70.0%
100.0%
130.0%
160.0%
190.0%
10/29/2009 11/29/2010 12/29/2011 1/29/2013 2/28/2014 3/31/2015 4/30/2016
TWO BBG REIT MTG Index
Delivering Results
4
1) Two Harbors’ total stockholder return is calculated for the period October 29, 2009 through March 31, 2017. Total stockholder return is defined as stock price appreciation including dividends. Source: Bloomberg.
2) Bloomberg REIT Mortgage Index total stockholder return for the period October 29, 2009 through March 31, 2017. The Bloomberg REIT Mortgage Index tracks publicly traded REITs whose principal business consists of originating, servicing
or investing in residential mortgage interests. The index uses a modified market capitalization weighted methodology, and components are reviewed quarterly for eligibility. Source: Bloomberg.
• Outperformed peer group by over 60% since inception
• Delivered total stockholder return of 176% during that time(1)
― Bloomberg REIT Mortgage Index total stockholder return of 114% over the same period of time(2)
• Maintained comparable dividend yield with lower leverage and less interest rate exposure than peer average
176%
114%
(2) (1)
3/31/2017
Strategic Overview
5
• Attractive investment opportunities in target assets
• More efficient business model
• Sophisticated approach to risk management
• Opportunistic expansion of capital structure
― Successful issuance of preferred stock offering
INCREASING EARNINGS POTENTIAL WHILE MAINTAINING RISK MANAGEMENT APPROACH
Diversified Financing Profile
6
REPURCHASE AGREEMENTS
• Outstanding borrowings of $13.6 billion with 24 active counterparties; 31 total counterparties
• Repo markets functioning efficiently for RMBS
FEDERAL HOME LOAN BANK OF DES MOINES
• Outstanding secured advances of $3.6 billion
• Weighted average borrowing rate of 1.04%
FINANCING FOR MSR
• Outstanding borrowings of $15.0 million under revolving credit facilities
• Additional available capacity of $55.0 million as of March 31, 2017
• Post quarter-end, additional $20.0 million of capacity added
FINANCING FOR COMMERCIAL REAL ESTATE ASSETS
• Outstanding borrowings under repurchase agreements of $478.8 million with three financing facilities
– Expanded the maximum borrowing capacity of one facility from $250 million to $400 million
– Subsequent to quarter-end, closed on additional financing facility
CONVERTIBLE DEBT ISSUANCE
• $287.5 million principal amount of unsecured senior convertible notes due 2022
• Majority of proceeds used to help fund MSR
HISTORICAL CAPITAL ALLOCATION PORTFOLIO COMPOSITION(1)
Portfolio Composition
7
$20.0 BILLION PORTFOLIO AS OF MARCH 31, 2017
(1) For additional detail on the portfolio, see Appendix slides 14-19.
(2) Commercial consists of senior, mezzanine and B-note commercial real estate debt and related instruments.
(3) MSR includes Ginnie Mae buyout residential mortgage loans.
(4) Assets in “Rates” include Agency RMBS, Agency Derivatives, MSR and Ginnie Mae buyout residential mortgage loans.
(5) Assets in “Credit” include non-Agency MBS, net economic interests in securitization trusts, prime jumbo residential mortgage loans and credit sensitive residential mortgage loans.
Rates(3)
$10,766
Commercial(2)
$1.5b
March 31,
2016
December 31,
2016
March 31,
2017
Rates(4) 56 % 58 % 58 %
Credit(5) 33 % 27 % 27 %
Commercial(2) 11 % 15 % 15 %
DIVERSIFIED CAPITAL ALLOCATION
Agency
$15.2b
MSR(3)
$0.8b
Non-Agency
$2.2b
Conduit
$0.3b
Rates(4) $16.0b Credit(5) $2.5b Commercial(2) $1.5b
Portfolio Performance
8
Q1-2017 PERFORMANCE SUMMARY
(1) “Legacy” non-Agency RMBS includes non-Agency bonds issued up to and including 2009. “New issue” non-Agency MBS includes bonds issued after 2009.
(2) Commercial consists of senior, mezzanine and B-note commercial real estate debt and related instruments.
(3) Cost of funds includes interest spread expense associated with the portfolio’s interest rate swaps.
RATES
• Interest rates less volatile
• Agency RMBS prices relatively flat
• MSR benefited from seasonally lower prepayment
speeds
CREDIT
• Mortgage credit spreads tightened
• Underlying residential credit environment continued to
improve
COMMERCIAL
• Continued strong portfolio performance
PORTFOLIO METRICS
Three Months Ended
December 31,
2016
March 31,
2017
Annualized portfolio yield during the quarter 3.54 % 3.99 %
Rates
Agency RMBS, Agency Derivatives and MSR 2.6 % 3.1 %
Credit
Non-Agency RMBS, Legacy(1) 9.1 % 9.2 %
Non-Agency MBS, New issue(1) 6.4 % 7.1 %
Net economic interest in securitization trusts 12.0 % 11.4 %
Residential mortgage loans held-for-sale 4.0 % 4.3 %
Commercial(2) 6.1 % 6.2 %
Annualized cost of funds on average repurchase
and advance balance during the quarter(3) 1.17 % 1.52 %
Annualized interest rate spread for aggregate
portfolio during the quarter 2.37 % 2.47 %
DRIVING SUPERIOR PORTFOLIO PERFORMANCE
Rates Update
9
PORTFOLIO SUMMARY
MSR INTEGRAL COMPONENT OF RATES STRATEGY
SENSIBLE APPROACH TO RISK MANAGEMENT
• Low interest rate exposure
• Utilize a combination of hedging tools
• MSR is a key component of hedging strategy
• Agency RMBS holdings of $15.2 billion
– Increase in Agency RMBS from initially deploying proceeds from the capital raises in the first quarter; plan to redeploy
those proceeds into MSR and commercial real estate assets
• MSR portfolio of approximately $750 million in fair market value
– Added $7.4 billion UPB of new issue, high quality MSR from flow-sale arrangements in the first quarter
– Expect near-term flow MSR volume of approximately $2.0-2.5 billion UPB per month
– Subsequent to quarter-end, purchased approximately $12 billion UPB of new issue, conventional MSR
Credit Update
10
• Legacy RMBS prices increased in the first quarter but significant opportunity remains
• Home prices continue to improve; CoreLogic Home Price Index up 7.0% on a rolling 12-month basis(1)
• Prepayments higher year-over-year
– TWO’s 1Q-17 three month CPR of 6.7%, compared to 1Q-16 three month CPR of 5.3%
• Future upside driven by increasing prepays, lower delinquencies/defaults and severities
(1) Source: CoreLogic Home Price Index rolling 12-month change as of February 2017.
(2) Weighted average market price utilized current face for weighting purposes. Please see slide 18 in the Appendix for more information on our non-Agency RMBS portfolio.
RESIDENTIAL CREDIT TAILWINDS
CONTINUED IMPROVEMENT OF UNDERLYING RESIDENTIAL CREDIT ENVIRONMENT
• Legacy non-Agency RMBS holdings of $2.2 billion
• Opportunistically purchased approximately $340 million of legacy non-Agency RMBS
• Average market price of $75.38 allows ability to capture upside opportunity(2)
PORTFOLIO SUMMARY
Commercial Real Estate Update
11
PORTFOLIO BY PROPERTY TYPE PORTFOLIO BY GEOGRAPHY
(1) Stabilized LTV considers the prospective market value “as stabilized” which reflects the property’s market value as of the time the property is projected to achieve stabilized occupancy. Stabilized
occupancy is the occupancy level that a property is expected to achieve after the property is exposed to the market for lease over a reasonable period of time and at comparable terms and conditions to
other similar properties.
(2) As of May 1, 2017.
SIGNIFICANT OPPORTUNITY FOR LENDING
• Aggregate portfolio carrying value of $1.5 billion at March 31, 2017
– 40 assets with an average loan size of $39.0 million
• Weighted average stabilized loan-to-value (LTV) of 64.0%(1); weighted average spread of LIBOR plus 478 basis
points
• Strong pipeline of loans; subsequent to quarter-end approximately $300 million(2) UPB closed or under contract
PORTFOLIO SUMMARY
…LESS INTEREST RATE R ISK (3 ) . . .
Attractive Returns With Lower Risk
12
AT T R AC T I VE & C O M PA R A BLE D I V I D E ND Y I E L D (1 ) …WITH LOWER LEVERAGE (2 ) . . .
SUPERIOR ASSET SELECTION AND RISK MANAGEMENT DRIVE RETURNS WITH LESS RISK
TWO Peer Average TWO Peer Average
TWO Peer Average
…AND LESS P R E PAY M E NT E X P O S U R E (4 )
TWO Peer Average
Note: Two Harbors and peer financial data for Dividend Yield, Leverage, Prepayment Risk and Interest Rate Exposure on this slide is based on available financial information as of March 31, 2017 as filed with the SEC. Peers include AGNC, ANH, ARR, CMO, CYS, IVR, MFA , NLY and HTS
(financial information for HTS is included in peer financial data only for the periods ending prior to the second quarter of 2016).
(1) Represents average of annualized yields on all quarterly cash dividends per respective fiscal year. Annualized yields for each quarter are calculated by dividing annualized quarterly dividends by closing share price as of respective quarter-ends. Peer dividend data based on peer
company press releases. Historical dividends may not be indicative of future dividend distributions. Our company ultimately distributes dividends based on its taxable income per share of common stock.
(2) Represents average of debt-to-equity ratios for all reportable quarters per respective fiscal year. Debt-to-equity is defined as total borrowings to fund RMBS, residential mortgage loans held-for-sale, commercial real estate assets, MSR and Agency Derivatives divided by total equity.
(3) Represents average of estimated change in equity value for theoretical +100bps parallel shift in interest rates for all reportable quarters per respective fiscal year. Change in equity market capitalization is adjusted for leverage.
(4) Represents average of the constant prepayment rate (CPR) on Agency RMBS, including Agency Derivatives, for all reportable quarters per respective fiscal year.
10.3%
11.3% 11.0%
10.4%
11.9%
13.0%
11.8%
10.4%
0.0%
6.0%
12.0%
18.0%
2014 2015 2016 2017 2014 2015 2016 2017
3.0x 3.0x
3.8x
4.9x
6.4x 6.6x 6.2x 5.9x
0.0x
2.0x
4.0x
6.0x
8.0x
2014 2015 2016 2017 2014 2015 2016 2017
-1.0%
-3.2% -3.0%
-4.4%
-8.2%
-6.7% -7.0%
-9.6%
-15.0%
-10.0%
-5.0%
0.0%
2014 2015 2016 2017 2014 2015 2016 2017
7.6%
9.3%
8.7%
5.6%
11.2%
13.5%
14.8%
13.0%
0.0%
5.0%
10.0%
15.0%
20.0%
2014 2015 2016 2017 2014 2015 2016 2017
Appendix
Rates: Agency RMBS Metrics
14
AGENCY PORTFOLIO YIELDS AND METRICS
AGENCY RMBS CPR(1)
(1) Agency weighted average 3-month Constant Prepayment Rate (CPR) includes IIOs (or Agency Derivatives).
(2) Weighted average cost basis includes RMBS principal and interest securities only. Average purchase price utilized carrying value for weighting purposes.
Portfolio Yield
Realized Q4-
2016
At December
31, 2016
Realized Q1-
2017
At March 31,
2017
Agency yield 3.0 % 3.1 % 3.1 % 3.1 %
Repo and FHLB costs 0.8 % 0.9 % 1.0 % 1.1 %
Swap costs 0.1 % 0.2 % 0.3 % 0.2 %
Net interest spread 2.1 % 2.0 % 1.8 % 1.8 %
Portfolio Metrics Q4-2016 Q1-2017
Weighted average 3-month CPR(1) 7.1 % 5.6 %
Weighted average cost basis(2) $105.9 $105.9
AGENCY PORTFOLIO COMPOSITION
30-Year Fixed 4-4.5%
45.9%
30-Year Fixed 3-3.5%
47.0%
30-Year Fixed
5% & above
3.2%
IO & Inverse IO
2.2%
Hybrid ARMs and
Other
1.7%
Rates: Agency RMBS
15
As of March 31,
2017 Par Value ($M) Market Value ($M)
% Prepay
Protected(1)
Amortized Cost
Basis ($M)
Weighted Average
Coupon
Weighted Average
Age (Months)
30-Year fixed
3.0-3.5% $7,005 $7,150 53.2 % $7,244 3.4 % 6
4.0-4.5% 6,542 6,995 96.2 % 7,008 4.2 % 23
≥ 5.0% 434 487 100.0 % 468 5.5 % 99
13,981 14,632 75.3 % 14,720 3.9 % 17
Hybrid ARMs 27 28 — % 28 5.0 % 157
Other 238 235 0.7 % 232 4.7 % 144
IOs and IIOs 3,747 338 (2) — % 347 3.3 % 96
Total $17,993 $15,233 72.4 % $15,327
(1) Includes securities with implicit or explicit protection including lower loan balances (securities collateralized by loans less than or equal to $175K of initial principal balance), higher LTVs
(securities collateralized by loans with greater than or equal to 80% LTV), certain geographic concentrations and lower FICO scores.
(2) Represents market value of $224.5 million of IOs and $113.2 million of Agency Derivatives.
Rates: Mortgage Servicing Rights(1)
16
As of December 31, 2016 As of March 31, 2017
Fair value ($M) $693.8 $747.6
Unpaid principal balance ($M) $62,828.0 $68,128.0
Weighted average coupon 3.8 % 3.9 %
Original FICO score(2) 756 755
Original LTV 73 % 73 %
60+ day delinquencies 0.3 % 0.2 %
Net servicing spread 25.3 basis points 25.3 basis points
Vintage:
Pre-2009 0.5 % 0.4 %
2009-2012 23.4 % 20.9 %
Post 2012 76.1 % 78.7 %
Percent of MSR portfolio:
Conventional 99.9 % 99.9 %
Government FHA 0.1 % 0.1 %
(1) Excludes residential mortgage loans held-for-investment in securitization trusts for which the company is the named servicing administrator.
(2) FICO represents a mortgage industry accepted credit score of a borrower.
Credit: Non-Agency MBS Metrics
17
NON-AGENCY PORTFOLIO COMPOSITION NON-AGENCY PORTFOLIO YIELDS AND METRICS
(1) Weighted average cost basis includes MBS principal and interest securities only. Average purchase price utilized carrying value for weighting purposes. If current face were utilized for weighting
purposes, total non-Agency MBS excluding the company’s non-Agency interest-only portfolio would have been $56.93 at March 31, 2017.
Portfolio Yield
Realized Q4-
2016
At December
31, 2016
Realized Q1-
2017
At March 31,
2017
Non-Agency yield 8.7 % 9.3 % 9.0 % 9.0 %
Repo and FHLB costs 2.7 % 2.6 % 2.8 % 2.8 %
Swap costs 0.2 % 0.2 % 0.1 % 0.1 %
Net interest spread 5.8 % 6.5 % 6.1 % 6.1 %
NON-AGENCY MBS CPR
Non-Agency: Loan Type December 31, 2016 March 31, 2017
Sub-prime 71 % 74 %
Option-ARM 7 % 8 %
Prime 3 % 2 %
Alt-A 8 % 8 %
Other 11 % 8 %
Portfolio Metrics Q4-2016 Q1-2017
Weighted average 3-month CPR 6.2 % 6.7 %
Weighted average cost basis(1) $57.9 $59.5
Credit: Non-Agency MBS
18
As of March 31, 2017 Senior Bonds Mezzanine Bonds Total P&I
Portfolio characteristics:
Carrying value ($M) $1,410.6 $784.3 $2,194.9
% of non-Agency portfolio 64.3 % 35.7 % 100.0 %
Average purchase price(1) $55.95 $65.84 $59.48
Average coupon 2.8 % 2.1 % 2.5 %
Weighted average market price(2) $75.91 $74.45 $75.38
Collateral attributes:
Average loan age (months) 127 136 133
Average loan size ($K) $360 $338 $363
Average original Loan-to-Value 70.4 % 69.6 % 72.1 %
Average original FICO(3) 633 598 640
Current performance:
60+ day delinquencies 23.9 % 21.0 % 23.6 %
Average credit enhancement(4) 9.3 % 17.9 % 12.3 %
3-Month CPR(5) 6.0 % 8.1 % 6.7 %
(1) Average purchase price utilized carrying value for weighting purposes. If current face were utilized for weighting purposes, the average purchase price for senior, mezzanine and total non-Agency MBS,
excluding our non-Agency interest-only portfolio, would have been $53.20, $63.52 and $56.93, respectively.
(2) Weighted average market price utilized current face for weighting purposes.
(3) FICO represents a mortgage industry accepted credit score of a borrower.
(4) Average credit enhancement remaining on our non-Agency MBS portfolio, which is the average amount of protection available to absorb future credit losses due to defaults on the underlying collateral.
(5) 3-Month CPR is reflective of the prepayment speed on the underlying securitization; however, it does not necessarily indicate the proceeds received on our investment tranche. Proceeds received for
each security are dependent on the position of the individual security within the structure of each deal.
Commercial Real Estate Portfolio
(1) Cash coupon does not include origination or exit fees.
(2) Yield includes net origination fees and exit fees, but does not include future fundings.
(3) Initial LTV considers the original appraisal at the time of origination.
(4) Stabilized LTV considers the prospective market value “as stabilized” which reflects the property’s market value as of the time the property is projected to achieve stabilized occupancy. Stabilized
occupancy is the occupancy level that a property is expected to achieve after the property is exposed to the market for lease over a reasonable period of time and at comparable terms and conditions to
other similar properties.
19
$ in millions Type
Origination
Date
Principal
Balance Book Value Cash Coupon(1) Yield(2)
Original Term
(Years) State Property Type Initial LTV(3)
Stabilized
LTV(4)
Asset 1 Senior 12/15 $120.0 $119.9 L + 4.20% 5.91 % 4 LA Mixed-Use 65.5 % 60.0 %
Asset 2 Senior 09/15 105.0 105.1 L + 3.42% 4.76 % 3 CA Retail 70.9 % 66.9 %
Asset 3 Senior 07/16 95.5 94.3 L + 4.45% 5.89 % 4 Multi-state Office 62.8 % 61.5 %
Asset 4 Senior 04/16 82.0 81.4 L + 4.75% 6.09 % 3 NY Industrial 75.9 % 55.4 %
Asset 5 Senior 11/15 77.1 77.0 L + 4.20% 5.80 % 3 NY Office 66.4 % 68.7 %
Asset 6 Senior 10/16 73.8 73.0 L + 4.37% 5.85 % 4 NC Office 72.4 % 68.1 %
Asset 7 Senior 12/16 62.3 60.6 L + 4.11% 6.76 % 4 FL Office 73.3 % 63.2 %
Asset 8 Senior 01/17 51.1 50.4 L + 4.75% 6.90 % 4 SC Office 67.6 % 67.1 %
Asset 9 Senior 06/16 50.7 50.3 L + 4.49% 5.95 % 4 HI Retail 76.2 % 57.4 %
Asset 10 Mezzanine 03/15 45.9 45.9 L + 6.75% 7.94 % 5 Multi-state Hotel 70.3 % 63.5 %
Asset 11 Mezzanine 11/15 45.6 45.6 L + 7.25% 8.15 % 3 Multi-state Office 77.6 % 77.5 %
Asset 12 Senior 12/15 44.5 44.5 L + 4.65% 6.43 % 4 PA Office 74.5 % 67.5 %
Asset 13 Senior 12/15 43.5 43.5 L + 4.50% 5.61 % 3 TX Multifamily 82.3 % 76.8 %
Asset 14 Senior 04/16 43.5 43.0 L + 4.40% 6.11 % 3 NY Office 66.9 % 62.1 %
Asset 15 Senior 02/16 42.9 42.6 L + 4.30% 5.63 % 3 TX Office 72.9 % 70.4 %
Assets 16-40 Various Various 576.5 571.5 L + 5.21% 6.83 % 4 Various Various 70.3 % 62.7 %
Total/Weighted Average $ 1,560.0 $ 1,548.6 L + 4.78% 6.37 % 4 70.6 % 64.0 %
