Share Count
shares in thousands


<table>
<tr><td></td><td colspan="2">2026</td><td>2026</td></tr>
<tr><td></td><td>Q2</td><td>Q1</td><td>YTD</td></tr>
<tr><td>Number of Shares, GAAP EPS:</td><td></td><td></td><td></td></tr>
<tr><td>Basic — Average shares outstanding</td><td>366,401</td><td>366,460</td><td>366,430</td></tr>
<tr><td>Effect of dilutive securities — Convertible Notes</td><td>—</td><td>—</td><td>—</td></tr>
<tr><td>Effect of dilutive securities — Other</td><td>330</td><td>487</td><td>323</td></tr>
<tr><td>Diluted — Average shares outstanding</td><td>366,731</td><td>366,947</td><td>366,753</td></tr>
<tr><td></td><td></td><td></td><td></td></tr>
<tr><td>Shares Outstanding</td><td>370,628</td><td>370,739</td><td>370,628</td></tr>
<tr><td colspan="4">Number of Shares, Distributable EPS:</td></tr>
<tr><td>Basic — Average shares outstanding</td><td>366,401</td><td>366,460</td><td>366,430</td></tr>
<tr><td>Effect of Weighted Average Unvested Stock Awards</td><td>5,895</td><td>5,732</td><td>5,814</td></tr>
<tr><td>Effect of dilutive securities — Woodstar II OP units</td><td>9,643</td><td>9,643</td><td>9,643</td></tr>
<tr><td>Effect of dilutive securities — Other</td><td>—</td><td>161</td><td>—</td></tr>
<tr><td>Diluted — Average shares outstanding</td><td>381,939</td><td>381,996</td><td>381,887</td></tr>
</table>

STARWOOD PROPERTY TRUST


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