Total Undepreciated Assets - $32.2B


<figure type="CHART">

<description>A pie chart illustrating the composition of a diversified asset base. The chart is divided into several slices representing different asset classes, with specific percentages labeled for each. The chart is segmented into three primary groupings indicated by callout boxes: 'Commercial Loans' (53%), 'Owned Properties' (21%), and a specific note regarding 'U.S. office' representing 7.6% of the asset base. The pie chart segments include: Multifamily (19%), Industrial (8%), Hotel (6%), Data Center (4%), Mixed Use (1%), Retail (1%), Other (4%), Residential Lending (8%), Net Lease (9%), Florida Affordable Housing Fund (5%), Property - Other (4%), Medical Office (3%), Infrastructure Lending (9%), REIS CMBS (4%), Cash & A/R (2%), Other (2%), Intangibles (1%), U.S. Office (8%), and Int'l Office (2%).</description><table><thead><tr><th>Asset Category</th><th>Percentage</th></tr></thead><tbody><tr><td>Multifamily</td><td>19%</td></tr><tr><td>Industrial</td><td>8%</td></tr><tr><td>Hotel</td><td>6%</td></tr><tr><td>Data Center</td><td>4%</td></tr><tr><td>Mixed Use</td><td>1%</td></tr><tr><td>Retail</td><td>1%</td></tr><tr><td>Other</td><td>4%</td></tr><tr><td>Residential Lending</td><td>8%</td></tr><tr><td>Net Lease</td><td>9%</td></tr><tr><td>Florida Affordable Housing Fund</td><td>5%</td></tr><tr><td>Property - Other</td><td>4%</td></tr><tr><td>Medical Office</td><td>3%</td></tr><tr><td>Infrastructure Lending</td><td>9%</td></tr><tr><td>REIS CMBS</td><td>4%</td></tr><tr><td>Cash & A/R</td><td>2%</td></tr><tr><td>Other</td><td>2%</td></tr><tr><td>Intangibles</td><td>1%</td></tr><tr><td>U.S. Office</td><td>8%</td></tr><tr><td>Int'l Office</td><td>2%</td></tr></tbody></table></figure>

**NOTE:** Total assets and property related amounts exclude $410M of accumulated depreciation and amortization


STARWOOD PROPERTY TRUST


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