<::logo: Share Count Share Count shares in thousands The logo features the words "Share Count" in a dark blue sans-serif font, with "shares in thousands" in a smaller, lighter blue, italicized sans-serif font below it, all on a white background.::>

	2026		2026
	Q2	Q1	YTD
Number of Shares, GAAP EPS:
Basic - Average shares outstanding	366,401	366,460	366,430
Effect of dilutive securities - Convertible Notes	—	—	—
Effect of dilutive securities — Other	330	487	323
Diluted — Average shares outstanding	366,731	366,947	366,753
Shares Outstanding	370,628	370,739	370,628
Number of Shares, Distributable EPS:
Basic — Average shares outstanding	366,401	366,460	366,430
Effect of Weighted Average Unvested Stock Awards	5,895	5,732	5,814
Effect of dilutive securities — Woodstar II OP units	9,643	9,643	9,643
Effect of dilutive securities — Other	—	161	—
Diluted — Average shares outstanding	381,939	381,996	381,887

STARWOOD PROPERTY TRUST 33