Capitalization Overview, continued $ billions > **92%** of commercial lending debt and **86%** of consolidated debt has no mark-to-market provisions <::Total Debt Outstanding (including off-balance sheet) Pie chart with center value $25.1. Segments are: - Secured Debt: $14.2 - Unsecured Debt: $4.9 - Off-B/S Debt (ABSs, CLOs & SASB): $4.8 - Woodstar Fund Debt (11): $1.2 : pie chart::> <::Margin Call Provisions (including off-balance sheet) Pie chart with center value $25.1. Segments are: - Spread and Credit: $3.5 - Credit: $6.8 - No Margin Calls: $14.8 : pie chart::> *$4.5B proforma for the (i) $500M issuance of senior unsecured notes due 2029; (ii) $500M repayment of senior unsecured notes due January 2027 and (iii) $400M repayment of senior unsecured notes due July 2026, which all occurred in July 2026 STARWOOD PROPERTY TRUST 29