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      {
        "text": "First Quarter 2026 Earnings Supplement",
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      {
        "text": "Claros Mortgage Trust, Inc. (CMTG)",
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        "text": "May 6, 2026",
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        "text": "The properties above are not representative of all transactions. The information provided herein is as of March 31, 2026, unless otherwise noted.",
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        "text": "CLAROS",
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        "text": "MORTGAGE",
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        "text": "TRUST",
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      {
        "text": "PAGE 1",
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "text": "\uf06c",
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        "text": "GAAP net loss of $54.3 million, or $0.39 per share; distributable loss of $75.2 million, or $0.52 per share; and distributable loss prior to ",
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        "text": "realized losses of $7.5 million, or $0.05 per share  1, 14",
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        "text": "Provision for CECL reserves of $31.4 million, or $0.22 per share, for the quarter",
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        "text": "Book value of $10.33 per share",
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        "text": "REO assets generated distributable loss of $0.04 per share for the quarter, net of financing costs, primarily due to expected seasonality of ",
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        "text": "REO hotel portfolio",
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        "text": "Financial",
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        "text": "Loan resolutions year-to-date of $634.2 million of UPB 2, 3 and partial loan repayments of $12.0 million of UPB",
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      {
        "text": "-",
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        "text": "Resolved five watchlist loans totaling $460.4 million of UPB",
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        "text": "2, 3",
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        "text": "\uf06c",
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        "text": "Subsequent to quarter-end, entered into a binding agreement to sell a multifamily REO asset for a gross sales price of $48.0 million",
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      {
        "text": "\uf06c",
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      {
        "text": "$3.2 billion loan portfolio 4 , of which 96% are floating-rate and 96% are senior loans  4, 6",
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        "text": "\uf06c",
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        "text": "Watchlist loans of $1.4 billion 4",
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        "text": "(13 loans) at March 31, 2026, ",
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        "text": "representing a 15% decline from year-end",
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        "text": "4",
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        "text": "CECL reserves of $398.9 million on UPB, or $2.76 per share at quarter-end 20",
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      {
        "text": "-",
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        "text": "Approximately 11.4% of UPB at quarter-end, comprised of (i) specific reserves of 26.8% of UPB of risk rated 5 loans and (ii) general ",
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        "text": "reserves of 2.3% of UPB (7.7% of UPB of risk rated 4 loans and 0.9% of UPB on remaining loans) 20",
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        "text": "Loan and REO ",
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        "text": "Portfolio ",
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        "text": "3, 4 ",
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        "text": "\uf06c",
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        "text": "Closed a new $500 million secured term loan maturing in 2030; proceeds used to fully retire prior secured term loan",
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        "text": "\uf06c",
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        "text": "At March 31, 2026:",
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      {
        "text": "-",
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      {
        "text": "Total liquidity of $132 million, including $117 million of cash 7",
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      {
        "text": "-",
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        "text": "Unencumbered assets of $538 million, consisting of $363 million of loan UPB and $175 million of REO carrying value 8",
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      {
        "text": "-",
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        "text": "Net unfunded loan commitments decreased to $5 million 9",
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      {
        "text": "-",
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        "text": "Net financings outstanding decreased by $489 million, including $142 million of deleveraging payments",
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      {
        "text": "-",
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        "text": "Net debt / equity ratio of 1.7x",
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      {
        "text": "10, 14",
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      {
        "text": "-",
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        "text": "Total leverage ratio of 2.2x  11, 14",
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        "text": "\uf06c",
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        "text": "At May 5, 2026, total liquidity of $116 million, including $103 million of cash",
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      {
        "text": "7",
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        "text": "Liquidity and ",
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        "text": "Capitalization",
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      {
        "text": "First Quarter 2026 Highlights",
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      {
        "text": "See Endnotes in the Appendix.",
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      {
        "text": "CLAROS",
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        "text": "MORTGAGE",
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        "text": "TRUST",
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        "text": "PAGE 2",
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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      {
        "text": "Full ",
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      {
        "text": "Repayments",
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        "text": "37%",
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        "text": "Partial ",
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        "text": "2%",
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        "text": "Loan Sales ",
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        "text": "below 100% of ",
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        "text": "UPB",
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        "text": "34%",
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          87.60115330995374,
          573.5774692798484,
          105.20022437079702,
          581.3120797347864
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Foreclosures",
        "box": [
          45.36182830995375,
          412.2927294377083,
          96.25809653469213,
          420.0273398926463
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16%",
        "box": [
          62.039406739488754,
          422.37404222868577,
          79.63847780033203,
          430.10865268362375
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Settlement with ",
        "box": [
          76.32164507215126,
          338.1306439888708,
          138.84258591895977,
          345.8652544438088
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "financing ",
        "box": [
          88.67905992784875,
          348.21193068770833,
          126.49647643838153,
          355.9465411426463
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "counterparty",
        "box": [
          81.9592616673375,
          358.2905544377083,
          130.84070343911716,
          366.0251648926463
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          97.56321502270876,
          368.4921691036858,
          115.16228608355202,
          376.2267795586238
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Resolution Activity",
        "box": [
          31.081231255899002,
          85.00151345211793,
          288.26811467059434,
          106.40389339325685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Resolution and Repayment Activity 2",
        "box": [
          275.159603252781,
          291.7337797013727,
          517.1135125427163,
          303.10051109171576
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(unpaid principal balance)",
        "box": [
          339.3568812729263,
          306.3144785553282,
          452.8301963682345,
          315.0961523898627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FY 2022 - 2026 YTD",
        "box": [
          539.873340887535,
          323.850363415706,
          653.4610427605596,
          334.53649924672976
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in billions)",
        "box": [
          568.9170365636903,
          337.75533703987094,
          624.4236445709009,
          346.53701087440544
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$646 million 2",
        "box": [
          170.76230965104676,
          455.14501296869867,
          253.75541409145472,
          467.56063289721726
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026 YTD",
        "box": [
          185.15988384498598,
          329.73277733819896,
          239.60247420068674,
          340.4189131692228
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          47.037817920702004,
          136.16197504956585,
          54.378446305329255,
          144.648600017273
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "During the quarter, resolved five loans totaling $608.8 million of UPB 2",
        "box": [
          61.92000101953125,
          134.06112150028127,
          419.1091607134688,
          144.96121016957534
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and received $4.0 million in partial loan repayments.",
        "box": [
          422.279296875,
          134.78980141448437,
          689.2783311712841,
          144.96121016957534
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$240.8 million of UPB, ",
        "box": [
          252.12007978209672,
          155.8261400250422,
          352.7849437923032,
          164.62009592088373
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "includes one watchlist loan",
        "box": [
          352.79766674999996,
          155.8360999403494,
          470.4840260202682,
          164.61777377488397
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          86.8769190560475,
          155.8261400250422,
          90.19357085335618,
          164.62009592088373
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Two full repayments:",
        "box": [
          101.758436434782,
          155.8261400250422,
          193.35977751540614,
          164.62009592088373
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$220.0 million of UPB 2 ; ",
        "box": [
          252.12007978209672,
          175.38609191294722,
          358.345339576129,
          184.18004780878874
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "watchlist loan, gross recovery of 90%",
        "box": [
          358.3174322654573,
          175.39605182825449,
          521.7496825418476,
          184.17772566278893
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          86.8769190560475,
          175.38609191294722,
          90.19357085335618,
          184.18004780878874
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "One loan sale:",
        "box": [
          101.758436434782,
          175.38609191294722,
          165.57161380822535,
          184.18004780878874
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$76.6 million of UPB 2 , ",
        "box": [
          252.12007978209672,
          194.94604377045698,
          352.8255740606717,
          203.7399996662985
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "watchlist loan collateralized by a multifamily property in the Dallas MSA",
        "box": [
          352.79766674999996,
          194.95600368576424,
          664.0051804398094,
          203.7376775202987
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          86.8769190560475,
          194.94604377045698,
          90.19357085335618,
          203.7399996662985
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "One mortgage foreclosure:",
        "box": [
          101.758436434782,
          194.94604377045698,
          219.85315223264647,
          203.7399996662985
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$71.4 million of UPB 2 , ",
        "box": [
          252.12007978209672,
          214.50599565836194,
          352.8255740606717,
          223.29995155420352
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "watchlist loan",
        "box": [
          352.79766674999996,
          214.5159555736692,
          412.21852147295357,
          223.2976294082037
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          86.8769190560475,
          214.50599565836194,
          90.19357085335618,
          223.29995155420352
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "One assignment to lender:",
        "box": [
          101.758436434782,
          214.50599565836194,
          217.9607683242722,
          223.29995155420352
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          47.037817920702004,
          236.0032342481361,
          54.378446305329255,
          244.48985921584324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Subsequent to quarter-end, resolved one loan totaling $25.4 million of UPB 2",
        "box": [
          61.92000101953125,
          233.9011292815312,
          452.7091515728437,
          244.80496874770034
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and received $8.0 million in partial loan repayments.",
        "box": [
          455.8781318554687,
          234.63355999260938,
          722.8771661517522,
          244.80496874770034
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25.4 million of UPB 2 , ",
        "box": [
          252.12007978209672,
          256.14505416753246,
          352.8255740606717,
          264.939010063374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "watchlist loan collateralized by a multifamily property in the Dallas MSA",
        "box": [
          352.79766674999996,
          256.1550140828397,
          664.0051804398094,
          264.9366879173742
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          86.8769190560475,
          256.14505416753246,
          90.19357085335618,
          264.939010063374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "One mortgage foreclosure:",
        "box": [
          101.758436434782,
          256.14505416753246,
          219.85315223264647,
          264.939010063374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.6 ",
        "box": [
          489.4759933520737,
          457.5026621245637,
          511.5571255882097,
          466.2966180204052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.1 ",
        "box": [
          542.3971809386903,
          489.54531090547823,
          564.4783131748262,
          498.33926680131975
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.4 ",
        "box": [
          594.2331928113097,
          471.42671426502096,
          616.3143250474457,
          480.2206701608625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.6 ",
        "box": [
          646.0753786886903,
          397.8641242879472,
          668.1565109248262,
          406.65808018378874
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.6 ",
        "box": [
          696.8354461886903,
          520.5059007013307,
          718.9165784248262,
          529.2998565971722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $-",
        "box": [
          445.79801910207374,
          549.7826411245637,
          457.381400604386,
          558.5765970204052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $0.5",
        "box": [
          440.75543527292626,
          518.706525640021,
          462.82660759375517,
          527.5004815358625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $1.0",
        "box": [
          440.75543527292626,
          487.62435487456366,
          462.82660759375517,
          496.41831077040524
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $1.5",
        "box": [
          440.75543527292626,
          456.5452117495637,
          462.82660759375517,
          465.3391676454052
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " $2.0",
        "box": [
          440.75543527292626,
          425.4630112879472,
          462.82660759375517,
          434.2569671837888
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " $2.5",
        "box": [
          440.75543527292626,
          394.3869254995637,
          462.82660759375517,
          403.1808813954052
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " $3.0",
        "box": [
          440.75543527292626,
          363.3077823745637,
          462.82660759375517,
          372.10173827040524
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2026",
        "box": [
          696.5953118595427,
          556.1443313263308,
          718.6664841803714,
          564.9382872221722
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "YTD",
        "box": [
          697.6743432345427,
          568.0258464054783,
          717.6140936796236,
          576.8198023013198
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2025",
        "box": [
          644.8747663136903,
          556.1443313263308,
          666.945938634519,
          564.9382872221722
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2024",
        "box": [
          593.1541614363097,
          556.1443313263308,
          615.2253337571384,
          564.9382872221722
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2023",
        "box": [
          541.4336158904573,
          556.1443313263308,
          563.504788211286,
          564.9382872221722
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2022",
        "box": [
          489.713070375,
          556.1443313263308,
          511.7842426958288,
          564.9382872221722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.333333333333336,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.9999
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          65.0,
          773.6666666666666,
          75.33333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99997
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
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        "from_ocr": true,
        "confidence": 0.99991
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  },
  {
    "page_no": 4,
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    "cells": [
      {
        "text": "PAGE 3",
        "box": [
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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          336.49439290289047,
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        "from_ocr": false,
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      {
        "text": "30%",
        "box": [
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      {
        "text": "28%",
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        "text": "7%",
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        "text": "7%",
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        "text": "6%",
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      {
        "text": "8%",
        "box": [
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        "from_ocr": false,
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      {
        "text": "6%",
        "box": [
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      {
        "text": "8%",
        "box": [
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        "from_ocr": false,
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      {
        "text": "7%",
        "box": [
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      {
        "text": "8%",
        "box": [
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      {
        "text": "7%",
        "box": [
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      {
        "text": "15%",
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      {
        "text": "14%",
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      {
        "text": "22%",
        "box": [
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        "from_ocr": false,
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      {
        "text": "25%",
        "box": [
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      {
        "text": "0%",
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      {
        "text": "20%",
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      {
        "text": "40%",
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      {
        "text": "60%",
        "box": [
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      {
        "text": "80%",
        "box": [
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          507.46487832415926,
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        "from_ocr": false,
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      {
        "text": "100%",
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      {
        "text": "CA",
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        "text": "NY",
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        "text": "VA / DC",
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        "text": "TX",
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          747.6059353426475,
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        "from_ocr": false,
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        "text": "IL",
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          743.3231717605372,
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        "from_ocr": false,
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        "text": "GA",
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          749.2991209448772,
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        "text": "UT",
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        "text": "Other",
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          759.8267514246227,
          543.0962724263197
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        "from_ocr": false,
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      {
        "text": "4%",
        "box": [
          553.7953996886903,
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          568.1277178157989,
          332.6213361608625
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        "from_ocr": false,
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      {
        "text": "5%",
        "box": [
          649.5525478113096,
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          663.8848659384182,
          331.65780080878875
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        "from_ocr": false,
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      {
        "text": "5%",
        "box": [
          553.7953996886903,
          315.787836640021,
          568.1277178157989,
          324.5817925358625
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        "from_ocr": false,
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      {
        "text": "4%",
        "box": [
          649.5525478113096,
          314.82430128794726,
          663.8848659384182,
          323.6182571837888
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        "from_ocr": false,
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      },
      {
        "text": "10%",
        "box": [
          551.03548725,
          302.34705116294725,
          570.9453579491592,
          311.1410070587888
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8%",
        "box": [
          649.5525478113096,
          304.14645589002095,
          663.8848659384182,
          312.9404117858625
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17%",
        "box": [
          551.03548725,
          278.22417562168,
          570.9453579491592,
          287.0181315175215
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16%",
        "box": [
          646.795722375,
          282.6643161125095,
          666.7055930741592,
          291.458272008351
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19%",
        "box": [
          551.03548725,
          246.06843511250952,
          570.9453579491592,
          254.86239100835104
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22%",
        "box": [
          646.795722375,
          248.82588389460625,
          666.7055930741592,
          257.61983979044777
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        "from_ocr": false,
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      },
      {
        "text": "44%",
        "box": [
          551.03548725,
          189.90773427334074,
          570.9453579491592,
          198.70169016918226
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "44%",
        "box": [
          646.7502733525115,
          189.90773427334074,
          666.6601440516706,
          198.70169016918226
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0%",
        "box": [
          490.3179477345427,
          328.7422981170947,
          504.6502658616514,
          337.53625401293624
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20%",
        "box": [
          484.7981525229263,
          293.10567816753246,
          504.70802322208544,
          301.899634063374
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40%",
        "box": [
          484.7981525229263,
          257.34628985792426,
          504.70802322208544,
          266.1402457537658
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "60%",
        "box": [
          484.7981525229263,
          221.58687191294723,
          504.70802322208544,
          230.38082780878875
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "80%",
        "box": [
          484.7981525229263,
          185.949049770457,
          504.70802322208544,
          194.74300566629847
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          479.2783869770737,
          150.189646658362,
          504.6662110952113,
          158.98360255420351
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Multifamily",
        "box": [
          728.7504586886903,
          186.90710865836195,
          778.2512377656393,
          195.70106455420353
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Hospitality",
        "box": [
          728.7504586886903,
          204.42936177045698,
          777.1556470818437,
          213.2233176662985
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Office",
        "box": [
          728.7504586886903,
          221.94676176417022,
          757.4947742653653,
          230.7407176600118
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        "from_ocr": false,
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      },
      {
        "text": " Mixed-use",
        "box": [
          728.7504586886903,
          239.46901487626525,
          777.215406573687,
          248.26297077210677
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Retail",
        "box": [
          728.7504586886903,
          256.9864148699785,
          756.8573396857024,
          265.78037076582
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        "from_ocr": false,
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      {
        "text": " Land",
        "box": [
          728.7504586886903,
          274.62536616753243,
          753.6104072955443,
          283.41932206337395
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Other",
        "box": [
          728.7504586886903,
          292.1476341125095,
          756.2697046825756,
          300.94159000835106
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Loan Portfolio Overview",
        "box": [
          31.081231255899002,
          85.00151345211793,
          288.31659476171876,
          106.40389339325685
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "December 31, ",
        "box": [
          352.19881437890626,
          147.04131832048824,
          430.61545270374614,
          157.19852119742967
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2025",
        "box": [
          377.1632881054687,
          160.84507310173825,
          402.69160756012496,
          171.00227597867968
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, ",
        "box": [
          252.36000822656248,
          147.04131832048824,
          308.8886470189805,
          157.19852119742967
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2026",
        "box": [
          266.2818832265625,
          160.84507310173825,
          291.81020268121875,
          171.00227597867968
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Key Portfolio Metrics  3, 12",
        "box": [
          38.5200018984375,
          153.2687946329297,
          174.4492842018281,
          164.1622739396172
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4.3Bn",
        "box": [
          371.63671875,
          195.8716829183906,
          407.99383797332814,
          206.04309167348163
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3.7Bn",
        "box": [
          260.75812911328126,
          195.8716829183906,
          297.1152483366094,
          206.04309167348163
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        "from_ocr": false,
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      },
      {
        "text": "Total Loan Commitments  13",
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          38.5200018984375,
          195.14879186730468,
          188.69088255909372,
          206.04040579508592
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4.1Bn",
        "box": [
          371.63671875,
          235.4716794730781,
          407.99383797332814,
          245.64308822816906
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        "from_ocr": false,
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      {
        "text": "$3.5Bn",
        "box": [
          260.75812911328126,
          235.4716794730781,
          297.1152483366094,
          245.64308822816906
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        "from_ocr": false,
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      {
        "text": "Loan UPB",
        "box": [
          38.5200018984375,
          235.48319947283198,
          93.49344072407811,
          245.64040234977347
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3.7Bn",
        "box": [
          371.63671875,
          275.0716760629218,
          407.99383797332814,
          285.24308481801285
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        "from_ocr": false,
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      },
      {
        "text": "$3.2Bn",
        "box": [
          260.75812911328126,
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          297.1152483366094,
          285.24308481801285
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        "from_ocr": false,
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      {
        "text": "Loan Carrying Value  4",
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        "from_ocr": false,
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      {
        "text": "33",
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      {
        "text": "28",
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          285.37924609891405,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Number of Loans",
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          133.51391986914842,
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      {
        "text": "76.3%",
        "box": [
          373.5632743945313,
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          406.15335369833207,
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      {
        "text": "77.2%",
        "box": [
          262.681869515625,
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          295.2719488194258,
          364.4437989117628
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        "from_ocr": false,
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      {
        "text": "Adjusted LTV  14",
        "box": [
          38.5200018984375,
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          124.49087798878122,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$130MM",
        "box": [
          367.55859375,
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          404.04377831020037
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        "from_ocr": false,
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      {
        "text": "$132MM",
        "box": [
          256.68000411328126,
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        "from_ocr": false,
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      {
        "text": "Average Commitment Size",
        "box": [
          38.5200018984375,
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          184.31711878387503,
          404.0410924318047
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        "confidence": 1.0
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      {
        "text": "6.2%",
        "box": [
          376.80118562109374,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "5.6%",
        "box": [
          265.921875,
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          292.1759544391523,
          443.6437920562941
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Weighted Average All-In Yield  15",
        "box": [
          38.5200018984375,
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          213.65088164503123,
          443.64110617789845
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "97%",
        "box": [
          378.3586006054687,
          473.0723970472968,
          401.2718801159882,
          483.2438058023878
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "96%",
        "box": [
          267.4799938125,
          473.0723970472968,
          290.3932733230195,
          483.2438058023878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate Loans  4",
        "box": [
          38.5200018984375,
          472.3478809219922,
          156.07007533846874,
          483.24111992399213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "97%",
        "box": [
          378.3586006054687,
          512.6723764457344,
          401.2718801159882,
          522.8437852008253
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96%",
        "box": [
          267.4799938125,
          512.6723764457344,
          290.3932733230195,
          522.8437852008253
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loans  4, 6",
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          127.6684847624531,
          522.8410993224297
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See Endnotes in the Appendix.",
        "box": [
          30.5999994375,
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          136.40735717721088,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A. At March 31, 2026 and December 31, 2025, approximates 1%.",
        "box": [
          30.5999994375,
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          254.14175466213254,
          575.3625188734669
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      },
      {
        "text": "B. At March 31, 2026, approximates 2%.",
        "box": [
          30.5999994375,
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          169.27775647502335,
          584.6016088422169
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        "confidence": 1.0
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      {
        "text": "16",
        "box": [
          778.6804504453125,
          233.06204845340625,
          787.251330262219,
          239.8429876234669
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral Diversification  3, 4, 12",
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          537.3584133749999,
          136.7770527430937,
          711.5414068305316,
          149.1988823451237
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Geographical Diversification  3, 4, 12",
        "box": [
          529.9221411757508,
          378.58221589080244,
          726.782307279369,
          391.0014901836095
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/25",
        "box": [
          636.1178473113097,
          340.50828753794724,
          674.8220781952178,
          349.30224343378876
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3/31/26",
        "box": [
          544.5552436886903,
          340.50828753794724,
          577.6819220005478,
          349.30224343378876
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      {
        "text": "A",
        "box": [
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          764.4758265547969,
          295.52112635784187
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "B",
        "box": [
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          755.3539240860468,
          518.7211309515919
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "12/31/25",
        "box": [
          636.1178473113097,
          559.2659591245638,
          674.8220781952178,
          568.0599150204052
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3/31/26",
        "box": [
          544.5552436886903,
          559.2659591245638,
          577.6819220005478,
          568.0599150204052
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
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          757.6666666666666,
          66.0
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        "from_ocr": true,
        "confidence": 0.99995
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          64.66666666666667,
          774.0,
          75.0
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        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
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          747.3333333333334,
          84.66666666666666
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        "from_ocr": true,
        "confidence": 0.99993
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  },
  {
    "page_no": 5,
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      {
        "text": "PAGE 4",
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        "from_ocr": false,
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "from_ocr": false,
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      {
        "text": "Region Exposure by Carrying Value and as a % of Total Carrying Value",
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          369.8454014528962,
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          667.3914679798252,
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      {
        "text": "3, 4, 12",
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          688.8587707263168,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "($ amounts in millions)",
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          118.87332404077915,
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        "text": "Other",
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        "from_ocr": false,
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      {
        "text": "% of Total ",
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          239.40180164261625,
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          283.7017032626682,
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        "from_ocr": false,
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        "text": "Carrying Value",
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        "text": "Number of ",
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        "text": "Collateral Type",
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        "from_ocr": false,
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        "text": "-",
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        "text": "$130 / 4%",
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        "text": "$239 / 8%",
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        "text": "-",
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        "text": "$294 / 9%",
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        "text": "-",
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        "text": "$739 / 23%",
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      {
        "text": "44%",
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      {
        "text": "$1,400",
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        "text": "11",
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      {
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        "text": "-",
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      {
        "text": "-",
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        "text": "$69 / 2%",
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        "text": "$299 / 10%",
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        "text": "$224 / 7%",
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        "text": "19%",
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      {
        "text": "Hospitality ",
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        "text": "$179 / 6%",
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      {
        "text": "17%",
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          266.61698650933704,
          464.06850397666875
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$38",
        "box": [
          188.52212342953501,
          456.33389352173083,
          203.2040761910946,
          464.06850397666875
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2",
        "box": [
          134.0408817147675,
          456.33389352173083,
          138.91150566191973,
          464.06850397666875
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Other",
        "box": [
          56.64133002472125,
          456.34265363674365,
          80.10967814418323,
          464.0664615631132
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$38 / 1%",
        "box": [
          712.0882060040589,
          489.70104776580246,
          747.1199059405009,
          497.424855692172
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$250 / 8%",
        "box": [
          642.9707583278962,
          489.70104776580246,
          682.9081226715418,
          497.424855692172
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$239 / 8%",
        "box": [
          576.1283422971038,
          489.70104776580246,
          616.0657066407495,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$385 / 12%",
        "box": [
          506.885266875,
          489.70104776580246,
          551.7282956258493,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$419 / 13%",
        "box": [
          440.1658678790588,
          489.70104776580246,
          485.0088966299081,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$684 / 22%",
        "box": [
          373.323451875,
          489.70104776580246,
          418.1664806258495,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,142 /  36%",
        "box": [
          301.68501678691877,
          489.70104776580246,
          356.42697550230434,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "100%",
        "box": [
          249.12432350168623,
          489.70104776580246,
          271.62905896973314,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$3,155",
        "box": [
          182.40116507215123,
          489.70104776580246,
          209.34727885172006,
          497.424855692172
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "28",
        "box": [
          131.52149990514,
          489.70104776580246,
          141.29778825949592,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Total",
        "box": [
          48.48005002270875,
          489.70104776580246,
          69.39044455841452,
          497.424855692172
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3, 4, 12",
        "box": [
          71.160710958561,
          488.1605275367577,
          90.89417095556878,
          493.34498057214324
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Loan Portfolio Overview (cont'd)",
        "box": [
          31.081231255899002,
          85.00151345211793,
          375.6049988311171,
          106.40389339325685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See Endnotes in the Appendix.",
        "box": [
          30.5999994375,
          568.5815797034063,
          136.40735717721088,
          575.3625188734669
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Totals may not foot due to rounding.",
        "box": [
          30.5999994375,
          577.8206696721563,
          154.37855679330454,
          584.6016088422169
        ],
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        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.666666666666664,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.99992
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          64.66666666666667,
          773.6666666666666,
          75.33333333333333
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        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
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        "from_ocr": true,
        "confidence": 0.99992
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  },
  {
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    "cells": [
      {
        "text": "PAGE 5",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
          591.7401643127812,
          336.49439290289047,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$4,057 ",
        "box": [
          173.27723527292622,
          424.86421890547825,
          206.4138735000912,
          433.6581748013198
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$3,506 ",
        "box": [
          630.7136074845426,
          471.183552265021,
          663.8502457117074,
          479.9775081608625
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Unfunded ",
        "box": [
          170.16000365625,
          305.06204845340625,
          205.92576289221088,
          311.8429876234669
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Commitments",
        "box": [
          163.080001828125,
          313.9401917815312,
          210.92640080601566,
          320.7211309515919
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$272 ",
        "box": [
          179.399997703125,
          322.82064679715626,
          198.80735728853904,
          329.6015859672169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unfunded ",
        "box": [
          627.5999908359375,
          403.46205761746876,
          663.3657500718983,
          410.24299678752936
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments",
        "box": [
          620.51953125,
          412.3402009221563,
          668.3659302278903,
          419.12114009221693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$204 ",
        "box": [
          636.8390808046876,
          421.22063306278125,
          656.2464403901015,
          428.00157223284185
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$22 ",
        "box": [
          254.9991392299575,
          326.94289339002097,
          274.2914951800683,
          335.7368492858625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$245 ",
        "box": [
          327.59697685954274,
          352.86395666294726,
          352.4668853817041,
          361.6579125587888
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$220 ",
        "box": [
          403.79481127292627,
          391.9857007495637,
          428.66471979508765,
          400.7796566454052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$71 ",
        "box": [
          485.0352295154573,
          405.4264565304782,
          504.327585465568,
          414.2204124263198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$37 ",
        "box": [
          561.2361212654572,
          417.7851829920947,
          580.5284772155679,
          426.5791388879362
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $3,000",
        "box": [
          104.63747363331974,
          513.3022264513307,
          137.66455279210518,
          522.0961823471722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $3,500",
        "box": [
          104.63747363331974,
          429.1834017420947,
          137.66455279210518,
          437.9773576379362
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $4,000",
        "box": [
          104.63747363331974,
          345.1861283670947,
          137.66455279210518,
          353.98008426293626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $4,500",
        "box": [
          104.63747363331974,
          261.066650676703,
          137.66455279210518,
          269.8606065725445
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          46.562155651725746,
          136.16197504956585,
          53.902784036353005,
          144.648600017273
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "During the quarter:",
        "box": [
          61.67812584375,
          134.78980141448437,
          157.83556378960543,
          144.96121016957534
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          71.5176647428665,
          156.39537716455538,
          74.79437955798832,
          165.08344191431718
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Two loans repaid totaling $240.8 million of UPB, including one watchlist loan. 12",
        "box": [
          86.641874296875,
          154.46111920340627,
          488.9318264809687,
          165.3630875602003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          71.5176647428665,
          176.9161613305481,
          74.79437955798832,
          185.60422608030996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Resolved three watchlist loans totaling $368.0 million of UPB 2 through a loan sale, mortgage foreclosure, and assignment to ",
        "box": [
          86.641874296875,
          175.71168499260938,
          726.2575438197996,
          185.88309374770034
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "lender.",
        "box": [
          86.641874296875,
          189.5098092894844,
          121.62811354948829,
          199.68121804457536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          71.5176647428665,
          211.23598705712584,
          74.79437955798832,
          219.9240518068877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Funded $22.2 million on existing loan commitments and received $4.0 million of partial loan repayments. 12",
        "box": [
          86.641874296875,
          209.30111554715626,
          629.2099331528437,
          220.20120707582532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Portfolio Activity",
        "box": [
          31.081231255899002,
          85.00151345211793,
          262.8160668303088,
          106.40389339325685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($551)",
        "box": [
          400.805746875,
          465.81638597868584,
          426.323961907472,
          473.55099643362377
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Change in UPB",
        "box": [
          378.6060304221038,
          475.0555595257896,
          455.88006443034067,
          482.7901699807275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total ",
        "box": [
          634.6804504453124,
          238.9401917815312,
          654.0878100307264,
          245.72113095159187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments",
        "box": [
          619.4390716640625,
          248.1815934377812,
          667.2854706419529,
          254.96253260784187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,710",
        "box": [
          631.4390716640625,
          257.4206605315312,
          655.1395511577656,
          264.2015997015919
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total ",
        "box": [
          177.3599967890625,
          239.06204845340625,
          196.76735637447655,
          245.8429876234669
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments",
        "box": [
          162.12000274218752,
          248.30111554715626,
          209.96640172007818,
          255.08205471721692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,329",
        "box": [
          174.12000274218752,
          257.54018261746876,
          197.8204822358906,
          264.32112178752936
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026 - Loan Portfolio Activity 2, 12",
        "box": [
          313.67813874609374,
          231.8697467813672,
          513.2870171298749,
          242.76040512711722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ amounts in millions)",
        "box": [
          364.07733214045726,
          245.95681402781673,
          463.0091708872051,
          254.73848786235123
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB 12",
        "box": [
          633.2476621209412,
          522.2348629140773,
          659.5485555696338,
          530.5500143557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31/26",
        "box": [
          631.6864528790588,
          533.3725722286858,
          660.9977977121008,
          541.1071826836238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Transfer to ",
        "box": [
          551.16972375,
          522.8154039007896,
          596.170434571081,
          530.5500143557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "REO A",
        "box": [
          560.0479916721038,
          532.7952011640773,
          584.7203498558481,
          541.1071826836238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Transfer",
        "box": [
          475.326075,
          522.8154039007896,
          508.2027866432776,
          530.5500143557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to Lender 12",
        "box": [
          468.9661054221038,
          532.7952011640773,
          514.7095238196335,
          541.1071826836238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Sale 12",
        "box": [
          393.60635321308126,
          527.5159082331232,
          441.7471868196336,
          535.8299299807276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repayments 12",
        "box": [
          310.205068125,
          527.5159082331232,
          367.9450332049791,
          535.8299299807276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fundings 12",
        "box": [
          241.56188342953502,
          527.5159082331232,
          286.10735350333414,
          535.8299299807276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB 12",
        "box": [
          175.56160664261625,
          522.2348629140773,
          201.86511081963366,
          530.5500143557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/25",
        "box": [
          171.60073007215124,
          533.3725722286858,
          205.9053404625256,
          541.1071826836238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See Endnotes in the Appendix.",
        "box": [
          30.5999994375,
          559.3402009221563,
          136.40735717721088,
          566.1211400922169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Totals may not foot due to rounding.",
        "box": [
          30.5999994375,
          568.5815797034063,
          154.37855679330454,
          575.3625188734669
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A. Principal charge-off of $39.1 million recognized as of December 31, 2025 in connection with a mortgage foreclosure of a multifamily property in January 2026.",
        "box": [
          30.5999994375,
          577.8206696721563,
          577.0857477633036,
          584.6016088422169
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.333333333333336,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.9999
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          65.0,
          773.6666666666666,
          75.33333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99997
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
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        "from_ocr": true,
        "confidence": 0.99991
      }
    ]
  },
  {
    "page_no": 7,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "PAGE 6",
        "box": [
          744.9609375,
          592.4620576174688,
          772.7318169067499,
          599.2429967875294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
          591.7401643127812,
          336.49439290289047,
          598.5211034828419
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL Reserves on Loans Receivable",
        "box": [
          31.081231255899002,
          85.00151345211793,
          436.7626337844889,
          106.40389339325685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          46.562155651725746,
          136.16197504956585,
          53.902784036353005,
          144.648600017273
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk rated 4 loans have general CECL reserves of 7.7% of UPB and are secured by office, multifamily, and hospitality properties.",
        "box": [
          61.67812584375,
          134.78980141448437,
          720.3571517728468,
          144.96121016957534
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
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          54.13821230532926,
          165.049281867569
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Remaining risk rated 2 and 3 loans have a general CECL reserve of 0.9% of UPB.",
        "box": [
          61.92000101953125,
          155.19167880510935,
          481.90463204769134,
          165.3630875602003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          46.797583920702,
          177.08344106585457,
          54.13821230532926,
          185.57006603356172
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96% of total CECL reserves on UPB relates to watchlist loans.",
        "box": [
          61.92000101953125,
          175.72320499236332,
          400.80383378019144,
          185.8804078693047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4%",
        "box": [
          293.99746197537223,
          271.14816737914896,
          308.32978010248087,
          279.9421232749905
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9%",
        "box": [
          326.87660347707373,
          312.06744615547825,
          341.20892160418236,
          320.86140205131977
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "87%",
        "box": [
          87.2416620560475,
          463.14400864002096,
          107.15153275520676,
          471.9379645358625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 5 Loans",
        "box": [
          252.35837377004248,
          534.7856128900211,
          338.8104386368271,
          543.5795687858625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 4 Loans",
        "box": [
          356.2748952345427,
          534.7856128900211,
          442.7269601013274,
          543.5795687858625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 2 - 3 Loans",
        "box": [
          458.2782968979262,
          534.3023165304783,
          558.973040654054,
          543.0962724263197
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total CECL Reserves ",
        "box": [
          154.91930902026,
          239.12941855045995,
          280.68751029388125,
          249.81555438148376
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(on UPB of Risk Rated 2 - 5 Loans)",
        "box": [
          145.8037317147675,
          252.81864097888365,
          286.6050603165264,
          260.5424489052533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31%",
        "box": [
          685.0755121095427,
          310.0249091245637,
          704.9853828087018,
          318.8188650204052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "69%",
        "box": [
          452.87402737499997,
          448.14698040547825,
          472.7838980741592,
          456.94093630131977
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General CECL Reserves ",
        "box": [
          511.556108112465,
          239.12941855045995,
          653.4437762545372,
          249.81555438148376
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(on UPB of Risk Rated 2 - 4 Loans)",
        "box": [
          511.44869712094123,
          252.81864097888365,
          650.0599969694837,
          260.5424489052533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$398.9 million",
        "box": [
          176.40135140779498,
          366.09396018318495,
          255.78669575994098,
          376.7800960142087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.76 per share",
        "box": [
          181.43775138502124,
          379.99864953240194,
          250.91812056828027,
          388.78032336693644
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.4% of UPB",
        "box": [
          185.036560869564,
          391.874079664871,
          247.24619187854285,
          400.6557534994054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$50.1 million",
        "box": [
          544.4375511124649,
          365.48735895825496,
          617.1569505190112,
          376.1734947892788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.35 per share",
        "box": [
          545.9959310613096,
          379.3937722032545,
          615.4763002445683,
          388.17544603778896
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3% of UPB",
        "box": [
          552.4732063136903,
          391.27528728240196,
          609.1052847506181,
          400.0569611169364
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.333333333333336,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.99993
      },
      {
        "text": "MORTGAGE",
        "box": [
          708.6666666666666,
          64.66666666666667,
          773.6666666666666,
          75.33333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
        ],
        "from_ocr": true,
        "confidence": 0.99995
      }
    ]
  },
  {
    "page_no": 8,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "PAGE 7",
        "box": [
          744.9609375,
          592.4620576174688,
          772.7318169067499,
          599.2429967875294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
          591.7401643127812,
          336.49439290289047,
          598.5211034828419
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Specific CECL Reserve",
        "box": [
          633.1148322345427,
          216.315360300743,
          742.3352634936621,
          225.09703413527745
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(% of UPB)",
        "box": [
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          227.97977605103495,
          709.8589278556841,
          235.7035839774046
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Specific CECL Reserve",
        "box": [
          511.79824714045725,
          221.59683182825444,
          621.0186783995766,
          230.37850566278894
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Carrying Value 4",
        "box": [
          407.3997057345427,
          221.0062620781007,
          482.7209421820653,
          230.37850566278894
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB",
        "box": [
          313.3203219770737,
          221.59683182825444,
          334.3556631059503,
          230.37850566278894
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Number of Loans",
        "box": [
          168.83710961497874,
          221.59683182825444,
          250.4685754730625,
          230.37850566278894
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ amounts in millions",
        "box": [
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          125.93828994707555,
          229.82215897740457
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31.3%",
        "box": [
          673.6742656886903,
          259.627150603339,
          701.8508660928529,
          268.4211064991805
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$222.9",
        "box": [
          551.27864925,
          259.627150603339,
          581.6165512758322,
          268.4211064991805
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$488.0",
        "box": [
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          259.627150603339,
          460.29088326037515,
          268.4211064991805
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$711.6",
        "box": [
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          338.9742981662897,
          268.4211064991805
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3",
        "box": [
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          259.627150603339,
          212.41508638331015,
          268.4211064991805
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Multifamily",
        "box": [
          73.92124799999999,
          254.35560932537072,
          125.77256708945626,
          263.13728315990517
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(CA / CO / TX)",
        "box": [
          71.15882666733751,
          266.01976151580243,
          128.56386034663367,
          273.74356944217203
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "21.1%",
        "box": [
          673.6742656886903,
          310.98841478047825,
          701.8508660928529,
          319.7823706763198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$85.4",
        "box": [
          554.0354746863097,
          310.98841478047825,
          578.8954232931637,
          319.7823706763198
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$317.9",
        "box": [
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          310.98841478047825,
          460.29088326037515,
          319.7823706763198
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$404.0",
        "box": [
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          310.98841478047825,
          338.9742981662897,
          319.7823706763198
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3",
        "box": [
          206.8773734724885,
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          212.41508638331015,
          319.7823706763198
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          85.68055876375576,
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          114.02647772814159,
          314.49736003778895
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(CA / GA)",
        "box": [
          80.76158835738376,
          317.3806472288837,
          118.98197015850828,
          325.1044551552533
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23.8%",
        "box": [
          673.6742656886903,
          362.4658279920947,
          701.8508660928529,
          371.25978388793624
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$37.5",
        "box": [
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          362.4658279920947,
          578.8954232931637,
          371.25978388793624
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        "from_ocr": false,
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      {
        "text": "$120.1",
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        "from_ocr": false,
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      {
        "text": "$157.6",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Land",
        "box": [
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          111.76561709345796,
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        "from_ocr": false,
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      {
        "text": "(VA)",
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          108.62946701338235,
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        "from_ocr": false,
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      {
        "text": "-%",
        "box": [
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          693.83296422628,
          422.98032943378877
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        "from_ocr": false,
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      {
        "text": "$-",
        "box": [
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          570.8696235275966,
          422.98032943378877
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.6",
        "box": [
          435.47274675,
          414.18637353794725,
          454.85474193787593,
          422.98032943378877
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$1.6",
        "box": [
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          414.18637353794725,
          333.53818653994966,
          422.98032943378877
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        "from_ocr": false,
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      {
        "text": "1",
        "box": [
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          414.18637353794725,
          212.53666738331017,
          422.98032943378877
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        "from_ocr": false,
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      {
        "text": "Other 17",
        "box": [
          82.07690354687699,
          408.0891904259327,
          117.64722787530069,
          417.45824174193643
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Other)",
        "box": [
          86.03989838009251,
          420.3429963129062,
          113.83574331590918,
          428.0668042392758
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27.1%",
        "box": [
          673.6742656886903,
          455.47614028987095,
          701.8508660928529,
          464.2578141244054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$345.8",
        "box": [
          551.27864925,
          455.47614028987095,
          581.6165512758322,
          464.2578141244054
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$927.6",
        "box": [
          429.95298123454273,
          455.47614028987095,
          460.29088326037515,
          464.2578141244054
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,274.8",
        "box": [
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          455.47614028987095,
          343.14305488390846,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "8",
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          212.41508638331015,
          464.0176797648627
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        "from_ocr": false,
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      {
        "text": "Total",
        "box": [
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          113.25287694597267,
          459.45536462440543
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(",
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          50.07744041411719,
          468.91932203786973
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "after",
        "box": [
          50.0400009140625,
          462.1478534532422,
          66.69792055821094,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Q2 '26 QTD resolutions)",
        "box": [
          69.1200027421875,
          462.1478534532422,
          152.31744096489834,
          468.91932203786973
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "11.8%",
        "box": [
          673.6742656886903,
          491.1015833287113,
          701.8508660928529,
          499.8955392245528
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        "from_ocr": false,
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      {
        "text": "$3.0",
        "box": [
          556.7984147654572,
          491.1015833287113,
          576.1804099533331,
          499.8955392245528
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$22.4",
        "box": [
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          491.1015833287113,
          457.5758402547805,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$25.4",
        "box": [
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        "from_ocr": false,
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      {
        "text": "1",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "REO Multifamily",
        "box": [
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          485.834910032402,
          137.8511038140568,
          494.6165838669364
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        "from_ocr": false,
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      {
        "text": "(TX)",
        "box": [
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          108.43099462012292,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26.8%",
        "box": [
          673.6742656886903,
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          701.8508660928529,
          535.5377030148626
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$348.8",
        "box": [
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          581.6165512758322,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$950.0",
        "box": [
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          526.7560291803283,
          460.29088326037515,
          535.5377030148626
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$1,300.2",
        "box": [
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          526.7560291803283,
          343.14305488390846,
          535.5377030148626
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "9",
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      {
        "text": "Total",
        "box": [
          89.27936080146225,
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          113.25287694597267,
          530.0179374994053
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(At March 31, 2026)",
        "box": [
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          532.9027877658025,
          139.00824621235316,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Risk Rated 5 Loan Summary",
        "box": [
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        "from_ocr": false,
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      {
        "text": "\uf06c",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk rated 5 loans of $950 million, net of specific CECL reserves of 26.8% of UPB, are primarily secured by multifamily, office and land ",
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      {
        "text": "properties.",
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      {
        "text": "-",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Subsequent to quarter-end, resolved one loan through a mortgage foreclosure.",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "We seek to resolve these loans through a variety of means including foreclosures, sales, and discounted repayments.",
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        "confidence": 1.0
      },
      {
        "text": "See Endnotes in the Appendix.",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Totals may not foot due to rounding.",
        "box": [
          30.5999994375,
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          154.37855679330454,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
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        "from_ocr": true,
        "confidence": 0.9999
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      {
        "text": "MORTGAGE",
        "box": [
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        "from_ocr": true,
        "confidence": 0.99997
      },
      {
        "text": "TRUST",
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        "from_ocr": true,
        "confidence": 0.99991
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  },
  {
    "page_no": 9,
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    "cells": [
      {
        "text": "PAGE 8",
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        "from_ocr": false,
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "text": "Real Estate Owned",
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      {
        "text": "Multifamily Properties",
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        "text": "A",
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        "text": "Multifamily 6",
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        "text": "C",
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        "from_ocr": false,
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      {
        "text": "(Subsequent to ",
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      {
        "text": "Quarter-End)",
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        "text": "Multifamily 5",
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      {
        "text": "Multifamily 4",
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        "text": "Multifamily 3",
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        "from_ocr": false,
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        "text": "B",
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        "from_ocr": false,
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        "text": "Multifamily 2",
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        "text": "Multifamily 1",
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        "from_ocr": false,
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      {
        "text": "Land Parcel",
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          258.12398981028,
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        "from_ocr": false,
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      {
        "text": "Mixed-use",
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        "text": "Property",
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        "from_ocr": false,
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      {
        "text": "Hotel",
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        "from_ocr": false,
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        "text": "Portfolio",
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          150.27703169704392,
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        "from_ocr": false,
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      {
        "text": "($ amounts in ",
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          86.3994423809119,
          209.06393731207953
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        "from_ocr": false,
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      {
        "text": "millions, except ",
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          89.6950914925921,
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      {
        "text": "asset basis)",
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          80.84227857432795,
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        "from_ocr": false,
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      {
        "text": "May 2026",
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          754.3738891468062,
          251.9041381057275
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "January 2026",
        "box": [
          633.0070583709412,
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          686.5839217896157,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "July 2025",
        "box": [
          565.565848125,
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          603.2869033703912,
          251.9041381057275
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        "from_ocr": false,
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      {
        "text": "July 2025",
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          527.9271250424949,
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        "from_ocr": false,
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      {
        "text": "June 2025",
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          413.04714145289626,
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          454.3598438535616,
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        "from_ocr": false,
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      {
        "text": "May 2025",
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          339.12563366191876,
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          377.8103015587251,
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        "from_ocr": false,
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      {
        "text": "December 2025",
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          251.64371835738376,
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          314.5063036896939,
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        "from_ocr": false,
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      {
        "text": "June 2023",
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          228.39334411543285,
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        "from_ocr": false,
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      {
        "text": "February 2021",
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          161.11121235699713,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Acquisition",
        "box": [
          34.68115997527875,
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          81.98578104474298,
          246.62377259665953
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        "from_ocr": false,
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      {
        "text": "Date",
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          66.70369029170652,
          257.1846742392758
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        "from_ocr": false,
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      {
        "text": "Dallas, TX",
        "box": [
          714.847108125,
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          755.4590013246361,
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        "from_ocr": false,
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      {
        "text": "Dallas, TX",
        "box": [
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          680.2195248717398,
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        "from_ocr": false,
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        "text": "Dallas, TX",
        "box": [
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        "from_ocr": false,
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        "text": "Dallas, TX",
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        "from_ocr": false,
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      {
        "text": "Henderson, NV",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Phoenix, AZ",
        "box": [
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          382.5075581076693,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "New York, NY",
        "box": [
          255.48481518972002,
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          310.901302761096,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "New York, NY",
        "box": [
          180.1213166199075,
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          235.5378041912835,
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        "from_ocr": false,
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      {
        "text": "New York, NY",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Location",
        "box": [
          40.07923669004625,
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          76.78411859394537,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$22.4",
        "box": [
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          746.011807251424,
          318.38831143362376
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      {
        "text": "$37.3",
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          670.7669527433063,
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        "from_ocr": false,
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      {
        "text": "$24.4",
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      {
        "text": "$108.4",
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          522.5524010766726,
          318.38831143362376
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        "confidence": 1.0
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      {
        "text": "$75.4",
        "box": [
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          444.68500707526135,
          318.38831143362376
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$40.8",
        "box": [
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          369.4455306223652,
          318.38831143362376
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$94.3",
        "box": [
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          294.0830893723651,
          318.38831143362376
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$80.3",
        "box": [
          196.68340992784877,
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          218.72385930021392,
          318.38831143362376
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$319.5",
        "box": [
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          145.9861505664876,
          318.38831143362376
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying",
        "box": [
          39.2408666910525,
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          74.98213594353659,
          313.1036643540908
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Value D, 8",
        "box": [
          39.12109999899375,
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          75.29399698891666,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "232",
        "box": [
          727.6873491290588,
          344.0120689888708,
          742.3693018906184,
          351.7466794438088
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "650",
        "box": [
          652.4478727028962,
          344.0120689888708,
          667.1298254644558,
          351.7466794438088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "370",
        "box": [
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          591.7727100586634,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "239 & 316",
        "box": [
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          529.2345018701915,
          346.4694267676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(555 Total)",
        "box": [
          487.80807332789624,
          349.30074472888367,
          530.4085126354524,
          357.0245526552533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "376",
        "box": [
          426.3658747971038,
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          441.04782755866336,
          351.7466794438088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "206",
        "box": [
          351.1237354221038,
          344.0120689888708,
          365.8056881836634,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "373,270",
        "box": [
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          351.7466794438088
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31K",
        "box": [
          199.9214048556975,
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          215.56697026867212,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Retail Only)",
        "box": [
          183.24381338009252,
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          232.2391366470394,
          357.0245526552533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,087",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Units / Keys / SF",
        "box": [
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$96,552 / Unit",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$57,330 / Unit",
        "box": [
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          687.4203687140275,
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        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$65,817 / Unit",
        "box": [
          556.8052191290589,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$195,322 / Unit",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$200,444 / Unit",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$197,854 / Unit",
        "box": [
          328.44550053691876,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$253 / ",
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        "text": "Asset Basis D",
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        "text": "-",
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        "text": "Debt",
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        "text": "($1.2)",
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        "text": "Net Equity",
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        "text": "D",
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        "text": "Improve operating ",
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        "text": "performance for ",
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        "text": "eventual sale",
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        "text": "monetization",
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        "text": "Evaluating",
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        "text": "monetization",
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        "text": "Binding ",
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        "text": "agreement to sell ",
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      {
        "text": "239-unit property",
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        "text": "performance for ",
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        "text": "eventual sale",
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      {
        "text": "Improve operating ",
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        "text": "performance for ",
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        "text": "eventual sale",
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        "text": "Evaluating",
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        "text": "monetization",
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        "text": "Evaluating ",
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        "text": "monetization",
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      {
        "text": "Continue to ",
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      {
        "text": "evaluate market ",
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      {
        "text": "conditions for ",
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      {
        "text": "eventual sale",
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        "from_ocr": false,
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      },
      {
        "text": "Strategy",
        "box": [
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        "from_ocr": false,
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      },
      {
        "text": "See Endnotes in the Appendix.",
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        "from_ocr": false,
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      },
      {
        "text": "Totals may not foot due to rounding.",
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      {
        "text": "A. Assets are financed through a repurchase agreement and are cross collateralized.",
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        "from_ocr": false,
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      },
      {
        "text": "B. Comprised of two multifamily properties which previously served as the collateral for one loan.",
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      {
        "text": "C. In May 2026, we acquired legal title to the underlying collateral asset through a mortgage foreclosure. Carrying value reflects loan receivable carrying value net of specific CECL reserve as of March 31, 2026.",
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      {
        "text": "D. Values as of March 31, 2026, unless otherwise noted.",
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      {
        "text": "\uf06c",
        "box": [
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      },
      {
        "text": "At quarter-end, REO asset carrying value of $780.2 million, net equity of $312.9 million; ",
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      {
        "text": "$174.6 million is unencumbered",
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      {
        "text": ".",
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      {
        "text": "\uf06c",
        "box": [
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      {
        "text": "Subsequent to quarter-end, entered into a binding agreement to sell a portion of Multifamily 3 REO for a gross sales price of $48.0 million; ",
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      {
        "text": "relative carrying value at quarter-end of $46.8 million.",
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      {
        "text": "Unencumbered REO",
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      {
        "text": "CLAROS",
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          66.0
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      {
        "text": "MORTGAGE",
        "box": [
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      {
        "text": "TRUST",
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  {
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      {
        "text": "PAGE 9",
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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      {
        "text": "\uf06c",
        "box": [
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        "from_ocr": false,
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      {
        "text": "At quarter-end, total liquidity of $132 million; ",
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      {
        "text": "at May 5, 2026, total liquidity of $116 million",
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      {
        "text": ".",
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      {
        "text": "7",
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
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      {
        "text": "During the quarter, net financings outstanding decreased by $489 million, including $142 million of deleveraging payments (of",
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      {
        "text": "which $56 million related to the refinancing of our secured term loan).",
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      {
        "text": "Liquidity Overview",
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      {
        "text": "5/5/26",
        "box": [
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      {
        "text": "3/31/26",
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      {
        "text": "12/31/25",
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      {
        "text": "Total Available Liquidity 7",
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      {
        "text": "($ amounts in millions)",
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        "from_ocr": false,
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      {
        "text": "Cash and Cash Equivalents",
        "box": [
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          568.5370966763197
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Approved and Undrawn Credit Capacity 7",
        "box": [
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          559.1598321820653,
          568.0599150204052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See Endnotes in the Appendix.",
        "box": [
          30.5999994375,
          577.8206696721563,
          136.40735717721088,
          584.6016088422169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$173 ",
        "box": [
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          262.7066547950877,
          404.7370944263198
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$117 ",
        "box": [
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          427.2240027567041,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$103 ",
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          591.7443486626184,
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        "from_ocr": false,
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      {
        "text": "$12 ",
        "box": [
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          259.8914338196748,
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        "from_ocr": false,
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      },
      {
        "text": "$15 ",
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          424.40936059803704,
          350.9800671608625
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13 ",
        "box": [
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          588.9297362001106,
          372.21723426293624
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$185 ",
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          261.51030188884164,
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        "from_ocr": false,
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      {
        "text": "$132 ",
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        "from_ocr": false,
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      {
        "text": "$116 ",
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $-",
        "box": [
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          148.5030446264615,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $20",
        "box": [
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          154.14237856661035,
          498.5794011608625
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $40",
        "box": [
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          154.14237856661035,
          470.2601408087888
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $60",
        "box": [
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          154.14237856661035,
          441.9378527858625
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $80",
        "box": [
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          154.14237856661035,
          413.61859243378876
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " $100",
        "box": [
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          154.10055160685414,
          385.29933205131977
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " $120",
        "box": [
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          154.10055160685414,
          356.98010139540526
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $140",
        "box": [
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          154.10055160685414,
          328.66084101293626
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $160",
        "box": [
          129.240603,
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          154.10055160685414,
          300.33855302040524
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": " $180",
        "box": [
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          154.10055160685414,
          272.0198863179592
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        "from_ocr": false,
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      {
        "text": " $200",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "CLAROS",
        "box": [
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          66.0
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        "from_ocr": true,
        "confidence": 0.99992
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      {
        "text": "MORTGAGE",
        "box": [
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        "from_ocr": true,
        "confidence": 0.99998
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      {
        "text": "TRUST",
        "box": [
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        "from_ocr": true,
        "confidence": 0.99992
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    ]
  },
  {
    "page_no": 11,
    "width": 792.0,
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    "cells": [
      {
        "text": "PAGE 10",
        "box": [
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        "from_ocr": false,
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "from_ocr": false,
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      {
        "text": "$0",
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        "from_ocr": false,
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      {
        "text": "$500",
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        "from_ocr": false,
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      {
        "text": "$1,000",
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        "from_ocr": false,
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      {
        "text": "$1,500",
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        "from_ocr": false,
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      {
        "text": "$2,000",
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        "from_ocr": false,
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      {
        "text": "$2,500",
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      {
        "text": "$3,000",
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      {
        "text": "$3,500",
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        "from_ocr": false,
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      {
        "text": "$4,000",
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        "confidence": 1.0
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      {
        "text": "\uf06c",
        "box": [
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        "from_ocr": false,
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      {
        "text": "During the quarter:",
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          157.83556378960543,
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        "from_ocr": false,
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Closed a new $500 million secured term loan maturing in 2030; proceeds used to fully retire prior secured term loan with a UPB of ",
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        "from_ocr": false,
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      {
        "text": "$556 million.",
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      {
        "text": "-",
        "box": [
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          199.40326764089497
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        "from_ocr": false,
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      },
      {
        "text": "Net financings outstanding decreased by $489 million, including $142 million of deleveraging payments.",
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      {
        "text": "Financing Activity",
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      {
        "text": "$(489)",
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      {
        "text": "Net Change in UPB",
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      {
        "text": "Q1 2026 - Financing Activity",
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        "confidence": 1.0
      },
      {
        "text": "($ amounts in millions)",
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      {
        "text": "UPB",
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      {
        "text": "3/31/26",
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        "text": "Repayments",
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      {
        "text": "Advances",
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      {
        "text": "UPB",
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      {
        "text": "12/31/25",
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        "text": "Totals may not foot due to rounding.",
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      {
        "text": "A. At March 31, 2026, we have no notes payable.",
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      {
        "text": "$3,156",
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      {
        "text": "$2,667",
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        "text": "Repurchase ",
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      {
        "text": "agreements and term ",
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        "from_ocr": false,
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      {
        "text": "participation facility",
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        "text": "Notes payable A",
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      {
        "text": "Debt related to real ",
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      {
        "text": "estate owned hotel ",
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      {
        "text": "portfolio",
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      {
        "text": "Secured term loan",
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      {
        "text": "Portion of repurchase ",
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        "text": "agreements secured by ",
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      {
        "text": "multifamily REO assets",
        "box": [
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        "from_ocr": false,
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      {
        "text": "$2,188",
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      {
        "text": "$177",
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      {
        "text": "$235",
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      {
        "text": "$556",
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      {
        "text": "$500",
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      {
        "text": "$11",
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      {
        "text": "$556",
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      {
        "text": "$177",
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      {
        "text": "$267",
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      {
        "text": "$1,932",
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      {
        "text": "$235",
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      {
        "text": "$500",
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      {
        "text": "$195",
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      {
        "text": "$233",
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      {
        "text": "CLAROS",
        "box": [
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        ],
        "from_ocr": true,
        "confidence": 0.9999
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          65.0,
          773.6666666666666,
          75.33333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99997
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
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        "from_ocr": true,
        "confidence": 0.99991
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    ]
  },
  {
    "page_no": 12,
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    "cells": [
      {
        "text": "PAGE 11",
        "box": [
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          599.2429967875294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
          591.7401643127812,
          336.49439290289047,
          598.5211034828419
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financing Mix and Leverage",
        "box": [
          31.081231255899002,
          85.00151345211793,
          335.4392433345903,
          106.40389339325685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          46.562155651725746,
          135.4412730495659,
          53.902784036353005,
          143.92789801727298
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total financing capacity of $4.4 billion, decrease from $5.2 billion at December 31, 2025.",
        "box": [
          61.67812584375,
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          513.6883561877696,
          144.2412108375441
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "\uf06c",
        "box": [
          46.562155651725746,
          155.24136989986187,
          53.902784036353005,
          163.727994867569
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total financing UPB of $2.7 billion, decrease from $3.2 billion at December 31, 2025.",
        "box": [
          61.67812584375,
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          494.91075658890264,
          164.0412091148878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          46.562155651725746,
          175.04145206585463,
          53.902784036353005,
          183.52807703356177
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unused capacity of $1.7 billion, decrease from $2.0 billion at December 31, 2025.",
        "box": [
          61.67812584375,
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          478.4371569408164,
          183.84121600551282
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          46.562155651725746,
          194.8415342318474,
          53.902784036353005,
          203.32815919955448
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net debt / equity ratio of 1.7x, decrease from 1.9x from December 31, 2025.  10, 14",
        "box": [
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          473.710998734953,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\uf06c",
        "box": [
          46.562155651725746,
          214.6416164278694,
          53.902784036353005,
          223.12824139557648
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total leverage ratio of 2.2x, decrease from 2.5x at December 31, 2025. 11, 14",
        "box": [
          61.67812584375,
          212.54112103153125,
          448.5110170396406,
          223.4412125602003
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted ",
        "box": [
          310.56597375,
          287.97887421869865,
          352.5882454667074,
          295.70268214506825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average Spread ",
        "box": [
          296.64304196308126,
          298.53870546869865,
          366.4348782705667,
          306.26251339506825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18",
        "box": [
          327.1246601146545,
          307.5599297660667,
          333.62799943428814,
          312.7443828014523
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB",
        "box": [
          249.36385685907,
          298.53870546869865,
          267.9528209163669,
          306.26251339506825
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capacity",
        "box": [
          185.88297492784878,
          298.53870546869865,
          222.55281637169637,
          306.26251339506825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ amounts in millions",
        "box": [
          38.52226335738375,
          298.53870546869865,
          120.77974332817432,
          306.26251339506825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.91%",
        "box": [
          321.125805,
          333.4522377388708,
          346.0833726716488,
          341.18684819380877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,932",
        "box": [
          248.40144185907002,
          333.4522377388708,
          275.3475556386389,
          341.18684819380877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,638",
        "box": [
          188.52212342953501,
          333.4522377388708,
          215.46823720910382,
          341.18684819380877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repurchase agreements and term ",
        "box": [
          38.52226335738375,
          328.5332277388708,
          175.06617606289092,
          336.26783819380876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "participation facility",
        "box": [
          38.52226335738375,
          339.0930589888708,
          113.07084211685425,
          346.82766944380876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.18%",
        "box": [
          321.125805,
          368.7327728536858,
          346.0833726716488,
          376.46738330862377
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$235",
        "box": [
          252.12278507215123,
          368.7327728536858,
          271.79800339104315,
          376.46738330862377
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$235",
        "box": [
          192.12369997729127,
          368.7327728536858,
          211.71131714605454,
          376.46738330862377
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt related to real estate owned ",
        "box": [
          38.52226335738375,
          363.8137628536858,
          171.4745289076167,
          371.54837330862375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "hotel portfolio",
        "box": [
          38.52226335738375,
          374.3735941036858,
          91.48591872515799,
          382.10820455862375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.75%",
        "box": [
          321.125805,
          404.01061890078955,
          346.0833726716488,
          411.74522935572753
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$500",
        "box": [
          252.12278507215123,
          404.01061890078955,
          271.79800339104315,
          411.74522935572753
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$500",
        "box": [
          192.12369997729127,
          404.01061890078955,
          211.71131714605454,
          411.74522935572753
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured term loan",
        "box": [
          38.52226335738375,
          404.37418744789335,
          110.67057060332958,
          412.1087979028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.65%",
        "box": [
          321.246106875,
          439.17958613674364,
          346.2036745466488,
          446.9033940631132
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,667",
        "box": [
          248.40144185907002,
          439.17958613674364,
          275.3475556386389,
          446.9033940631132
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,373",
        "box": [
          188.52212342953501,
          439.17958613674364,
          215.46823720910382,
          446.9033940631132
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total as of March 31, 2026",
        "box": [
          38.52226335738375,
          439.66350876986127,
          147.98866055812908,
          447.3873166962308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financing Balances and Weighted Average Spreads",
        "box": [
          48.48187637109375,
          266.8031953595508,
          333.0949902911016,
          276.96039823649215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Leverage Ratios  10, 11, 14",
        "box": [
          537.390665926875,
          266.0697284532422,
          664.4097571764373,
          276.96039823649215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See Endnotes in the Appendix.",
        "box": [
          30.5999994375,
          577.8206696721563,
          136.40735717721088,
          584.6016088422169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.2x",
        "box": [
          459.47282426545723,
          361.2652156170947,
          478.29706419612813,
          370.05917151293625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.9x",
        "box": [
          533.3940722654572,
          406.1468299129472,
          552.218312196128,
          414.94078580878875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.9x",
        "box": [
          607.2966438451278,
          406.1468299129472,
          626.1208837757986,
          414.94078580878875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7x",
        "box": [
          681.2335406249999,
          436.1439139920947,
          700.0577805556707,
          444.93786988793624
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6x",
        "box": [
          477.11726689045724,
          301.3865731170947,
          495.94150682112814,
          310.18052901293623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.4x",
        "box": [
          551.03548725,
          331.2681315379472,
          569.8597271806707,
          340.06208743378875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.5x",
        "box": [
          624.95673525,
          316.3866289920947,
          643.7809751806707,
          325.1805848879362
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.2x",
        "box": [
          698.8719279386903,
          361.2652156170947,
          717.696167869361,
          370.05917151293625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.4x",
        "box": [
          413.51520626545727,
          491.34474532871127,
          432.33944619612816,
          500.1387012245528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.6x",
        "box": [
          413.51520626545727,
          461.3446039129472,
          432.33944619612816,
          470.1385598087888
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.8x",
        "box": [
          413.51520626545727,
          431.4660731629472,
          432.33944619612816,
          440.26002905878875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0x",
        "box": [
          413.51520626545727,
          401.4629337420947,
          432.33944619612816,
          410.25688963793624
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.2x",
        "box": [
          413.51520626545727,
          371.5844029920947,
          432.33944619612816,
          380.37835888793626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.4x",
        "box": [
          413.51520626545727,
          341.58731891294724,
          432.33944619612816,
          350.38127480878876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6x",
        "box": [
          413.51520626545727,
          311.58720716294727,
          432.33944619612816,
          320.3811630587888
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8x",
        "box": [
          413.51520626545727,
          281.7062424221177,
          432.33944619612816,
          290.50019831795925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/25",
        "box": [
          461.27831399999997,
          503.1046200763307,
          494.3053931587855,
          511.8985759721722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9/30/25",
        "box": [
          535.1808855796706,
          503.1046200763307,
          568.2079647384559,
          511.8985759721722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/25",
        "box": [
          606.3942800263881,
          503.1046200763307,
          644.8993126041516,
          511.8985759721722
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31/26",
        "box": [
          682.9860287390117,
          503.1046200763307,
          716.0131078977969,
          511.8985759721722
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Debt / Equity Ratio",
        "box": [
          474.4759374770737,
          524.2262911554783,
          575.1308415719727,
          533.0202470513198
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Leverage Ratio",
        "box": [
          599.272749,
          524.2262911554783,
          691.1629276245334,
          533.0202470513198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.666666666666664,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.99992
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          64.66666666666667,
          773.6666666666666,
          75.33333333333333
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        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
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        "from_ocr": true,
        "confidence": 0.99992
      }
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  },
  {
    "page_no": 13,
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    "cells": [
      {
        "text": "PAGE 12",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
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          336.49439290289047,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value per Share Roll-Forward",
        "box": [
          31.081231255899002,
          85.00151345211793,
          411.3105859442034,
          106.40389339325685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.33",
        "box": [
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          147.02112058621873,
          161.22047996245306,
          153.8020597562794
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Adjusted BV per ",
        "box": [
          121.56000138281252,
          156.2611146330937,
          179.21376015119523,
          163.04205380315443
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Share 14",
        "box": [
          135.600002296875,
          165.02511953264093,
          163.19830115261044,
          172.28205928752936
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$10.83",
        "box": [
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          147.02112058621873,
          697.1395511577656,
          153.8020597562794
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Adjusted BV per ",
        "box": [
          657.48046875,
          156.2611146330937,
          715.1342275183828,
          163.04205380315443
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Share  14",
        "box": [
          671.0390625,
          165.02511953264093,
          699.4752728675305,
          172.28205928752936
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value",
        "box": [
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          529.5028947013307,
          710.6525324412781,
          538.2968505971722
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "3/31/26",
        "box": [
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          541.3844097804783,
          701.8799411714002,
          550.1783656763198
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "RSUs, Warrants, and ",
        "box": [
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          529.5028947013307,
          601.2168076780954,
          538.2968505971722
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other",
        "box": [
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          541.3844097804783,
          564.083640154462,
          550.1783656763198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized Losses and",
        "box": [
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          529.5028947013307,
          465.5663544840766,
          538.2968505971722
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Cash Items",
        "box": [
          383.6366755154573,
          541.3844097804783,
          455.447664880609,
          550.1783656763198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Loss",
        "box": [
          244.3194534908295,
          529.5028947013307,
          323.10238357104447,
          538.2968505971722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Prior to Realized Losses 1, 14",
        "box": [
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        "text": "12/31/25",
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        "text": "$3.73",
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        "text": "$10.69",
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        "text": "$10.69 ",
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        "text": "$10.33 ",
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        "text": "CECL",
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        "text": "$0.54 ",
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          163.104879998833,
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        "text": "General",
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          699.2796690603332,
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        "text": "CECL",
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          673.550472,
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      {
        "text": "$0.35 ",
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          698.2985432534678,
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        "text": "Depreciation/",
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          173.65205159753225,
          222.6593038989821
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      {
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      {
        "text": "$0.10 ",
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      {
        "text": "Depreciation/",
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          660.3503283201143,
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          708.8457025212608,
          270.05950575259686
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          707.4650638473987,
          279.6614407525969
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      {
        "text": "$0.15 ",
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      {
        "text": "$0.05 ",
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          298.6360951396572,
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      {
        "text": "$0.34 ",
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          433.5180446551144,
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      {
        "text": "$0.03 ",
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          567.3149075146569,
          336.57880363793623
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      {
        "text": " $8.50",
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          71.13114811475859,
          524.5004940995528
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      {
        "text": " $9.00",
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          71.13114811475859,
          475.53677402040523
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      {
        "text": " $9.50",
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          71.13114811475859,
          426.5791388879362
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      {
        "text": " $10.00",
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          368.949128890021,
          71.18892404669047,
          377.7430847858625
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      {
        "text": " $10.50",
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          71.18892404669047,
          328.7793646763198
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        "from_ocr": false,
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      {
        "text": " $11.00",
        "box": [
          38.161844887905,
          271.02658637914897,
          71.18892404669047,
          279.8205422749905
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        "from_ocr": false,
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      {
        "text": " $11.50",
        "box": [
          38.161844887905,
          222.0683427641702,
          71.18892404669047,
          230.8622986600118
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      {
        "text": " $12.00",
        "box": [
          38.161844887905,
          173.22681216753244,
          71.18892404669047,
          182.02076806337402
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        "from_ocr": false,
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      {
        "text": "CLAROS",
        "box": [
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          757.6666666666666,
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        "from_ocr": true,
        "confidence": 0.99992
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      {
        "text": "MORTGAGE",
        "box": [
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      {
        "text": "TRUST",
        "box": [
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  {
    "page_no": 14,
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      {
        "text": "PAGE 13",
        "box": [
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
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      {
        "text": "Financial Overview",
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      {
        "text": "2025",
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      {
        "text": "Q1 2025",
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        "text": "Q2 2025",
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        "text": "Q3 2025",
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      {
        "text": "Q4 2025",
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        "text": "Q1 2026",
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      {
        "text": "Key Financial Metrics",
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        "from_ocr": false,
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      {
        "text": "$     (489.1)",
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      {
        "text": "$       (3.49)",
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      {
        "text": "$       (78.6)",
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      {
        "text": "$       (0.56)",
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        "text": "$     (181.7)",
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        "text": "$       (0.07)",
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        "text": "$     (219.2)",
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        "text": "$       (0.39)",
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        "from_ocr": false,
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      {
        "text": "Per Share",
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          86.95579294434377,
          258.0012139312941
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        "from_ocr": false,
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      {
        "text": "$     (269.0)",
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        "text": "$       (1.88)",
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        "text": "$       (35.7)",
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        "text": "$       (0.15)",
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      {
        "text": "$     (101.7)",
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      {
        "text": "$       (0.71)",
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      {
        "text": "$       (75.2)",
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        "text": "$       (0.52)",
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          302.40496530238784
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      {
        "text": "Distributable Loss ($MM)  1, 14",
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          192.8092810143281,
          288.5985246075859
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Per Share",
        "box": [
          35.16187405078125,
          292.23355654729687,
          86.95579294434377,
          302.40496530238784
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        "from_ocr": false,
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      {
        "text": "$         35.2",
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      {
        "text": "$         0.24",
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      {
        "text": "$         11.6",
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      {
        "text": "$         0.08",
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      {
        "text": "$         14.8",
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      {
        "text": "$         0.10",
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        "confidence": 1.0
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      {
        "text": "$           5.9",
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      {
        "text": "$         0.04",
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      {
        "text": "$           2.9",
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        "confidence": 1.0
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      {
        "text": "$         0.02",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$         (7.5)",
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        "from_ocr": false,
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      {
        "text": "$       (0.05)",
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        "confidence": 1.0
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      {
        "text": "Distributable (Loss) Earnings prior to realized ",
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        "from_ocr": false,
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      {
        "text": "gains and losses ($MM)  1, 14",
        "box": [
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          185.12927688932808,
          342.3622670841484
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Per Share",
        "box": [
          35.16187405078125,
          346.10910205120314,
          86.95579294434377,
          356.2805108062941
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$    1,934.6",
        "box": [
          624.2413787929687,
          367.84368267205076,
          681.7952975634839,
          378.00088554899213
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$       13.60",
        "box": [
          624.48046875,
          381.6309907972968,
          681.8039875254372,
          391.8023995523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$       14.64",
        "box": [
          624.48046875,
          395.5528657972968,
          681.8039875254372,
          405.7242745523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$    1,757.0",
        "box": [
          548.7574081289063,
          367.84368267205076,
          606.3113268994219,
          378.00088554899213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$       12.27",
        "box": [
          549.0,
          381.6309907972968,
          606.3235187754377,
          391.8023995523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$       13.27",
        "box": [
          549.0,
          395.5528657972968,
          606.3235187754377,
          405.7242745523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$    1,748.8",
        "box": [
          473.39998625390626,
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          530.9539050244222,
          378.00088554899213
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$       12.24",
        "box": [
          473.642578125,
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          530.9660969004378,
          391.8023995523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$       13.28",
        "box": [
          473.642578125,
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          530.9660969004378,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$    1,531.9",
        "box": [
          398.04256437890626,
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          455.59648314942217,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$       10.69",
        "box": [
          398.2781181445313,
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          455.6016369199691,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$       11.33",
        "box": [
          398.2781181445313,
          395.5528657972968,
          455.6016369199691,
          405.7242745523878
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$    1,492.8",
        "box": [
          322.67813874609374,
          367.84368267205076,
          380.23205751660964,
          378.00088554899213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$       10.33",
        "box": [
          322.92000959765625,
          381.6309907972968,
          380.2435283730941,
          391.8023995523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$       10.83",
        "box": [
          322.92000959765625,
          395.5528657972968,
          380.2435283730941,
          405.7242745523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value ($MM)",
        "box": [
          35.16187405078125,
          367.84368267205076,
          134.15323193609763,
          378.00088554899213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Per Share",
        "box": [
          35.16187405078125,
          381.6309907972968,
          86.95579294434377,
          391.8023995523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted Book Value per Share  14, 19",
        "box": [
          35.16187405078125,
          394.8206696721563,
          221.31647771479686,
          405.7242745523878
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.4x",
        "box": [
          659.4011993320313,
          421.72063579705076,
          681.8191188531327,
          431.87783867399213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8x",
        "box": [
          660.1219024570313,
          435.5149476801094,
          681.894701991914,
          445.68635643520037
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2.2x",
        "box": [
          583.9207305820313,
          421.72063579705076,
          606.3386501031327,
          431.87783867399213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6x",
        "box": [
          584.6414337070313,
          435.5149476801094,
          606.414233241914,
          445.68635643520037
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.9x",
        "box": [
          508.5632743945313,
          421.72063579705076,
          530.9811939156328,
          431.87783867399213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.4x",
        "box": [
          509.2804756054687,
          435.5149476801094,
          531.0532751403516,
          445.68635643520037
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.9x",
        "box": [
          433.19881437890626,
          421.72063579705076,
          455.61673390000783,
          431.87783867399213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.5x",
        "box": [
          433.91951750390626,
          435.5149476801094,
          455.69231703878916,
          445.68635643520037
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7x",
        "box": [
          357.84139250390626,
          421.72063579705076,
          380.25931202500783,
          431.87783867399213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.2x",
        "box": [
          358.55859375,
          435.5149476801094,
          380.3313932848829,
          445.68635643520037
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Debt / Equity Ratio  10, 14",
        "box": [
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          184.15008183651557,
          431.87783867399213
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Leverage Ratio  11, 14",
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          167.35007496932806,
          445.68635643520037
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        "confidence": 1.0
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      {
        "text": "\uf06c",
        "box": [
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          144.648600017273
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "During the quarter, GAAP net loss of $54.3 million, or $0.39 per share; distributable loss of $75.2 million, or $0.52 per share; and ",
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        "from_ocr": false,
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      {
        "text": "distributable loss prior to realized losses of $7.5 million, or $0.05 per share  1, 14",
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        "confidence": 1.0
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      {
        "text": "See Endnotes in the Appendix.",
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      {
        "text": "Totals may not foot due to rounding.",
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          154.37855679330454,
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        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
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          757.6666666666666,
          66.0
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        "from_ocr": true,
        "confidence": 0.9999
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      {
        "text": "MORTGAGE",
        "box": [
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      {
        "text": "TRUST",
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  },
  {
    "page_no": 15,
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    "cells": [
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        "text": "STRICTLY CONFIDENTIAL",
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      {
        "text": "Appendix",
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        ],
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      {
        "text": "The properties above are not representative of all transactions.",
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      {
        "text": "A",
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    "cells": [
      {
        "text": "PAGE 15",
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "text": "CMTG Watchlist Loan Summary as of March 31, 2026",
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      {
        "text": "($ amounts in millions, except loan basis)",
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        "text": "Risk Rating",
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        "text": "Loan Basis",
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      {
        "text": "(Commitment/CV) A",
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        "text": "Origination Date",
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        "text": "Loan ",
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        "text": "Commitment 13",
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        "text": "Balance",
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        "text": "Value 4",
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        "text": "Loan 3, 12",
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        "text": "5",
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      {
        "text": "$1,204,819 / Unit ",
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        "text": "12/16/2021",
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        "text": "Loan 1",
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      {
        "text": "$172 / SF ",
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        "text": "319.9",
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        "text": "225.7",
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      {
        "text": "190.8",
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      {
        "text": "Loan 2",
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        "text": "5",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$215,385 / Unit ",
        "box": [
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          671.5291327218083,
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        "from_ocr": false,
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        "text": "CO ",
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      {
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        "text": "1/14/2022",
        "box": [
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        "text": "170.0",
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      {
        "text": "Loan 6",
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        "text": "5",
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      {
        "text": "$140 / SF ",
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        "text": "VA ",
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        "text": "Loan 7",
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        "text": "5",
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      {
        "text": "$86,789 / Unit ",
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      {
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        "from_ocr": false,
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      {
        "text": "4/26/2022",
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        "text": "151.7",
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      {
        "text": "Loan 9",
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        "from_ocr": false,
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      {
        "text": "5",
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      {
        "text": "$421 / SF ",
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      {
        "text": "2/13/2020",
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        "text": "5",
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      {
        "text": "$96,552 / Unit ",
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        "text": "Loan 27 B",
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      {
        "text": "$484,848 / Unit ",
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      {
        "text": "$135,294 / Unit ",
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        "text": "NY ",
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      {
        "text": "Hospitality ",
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      {
        "text": "8/1/2022",
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        "text": "115.3",
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        "text": "78.5",
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        "text": "78.5",
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      {
        "text": "Loan 21",
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      {
        "text": "Watchlist Loans",
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      {
        "text": "A. For risk rated 5 loans, based on carrying value net of specific CECL reserves. For risk rated 4 loans, based on whole loan commitment value.",
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        "text": "B. Loan resolved after quarter-end. See pages 2 and 7 for further detail.",
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        "text": "Loan resolved after quarter-end",
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      {
        "text": "CLAROS",
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        "text": "MORTGAGE",
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        "text": "TRUST",
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  {
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      {
        "text": "PAGE 16",
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "text": "Portfolio Details",
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      {
        "text": "CMTG Portfolio Details by Unpaid Principal Balance as of March 31, 2026",
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        "text": "($ amounts in millions)",
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        "text": "Risk Rating",
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        "text": "Loan Type",
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        "text": "Location",
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        "text": "Property Type",
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        "text": "Origination Date",
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        "text": "Commitment 13",
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        "text": "Unpaid Principal ",
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        "text": "Balance",
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        "text": "Carrying ",
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        "text": "Value 4",
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        "text": "Loan 3, 12",
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        "text": "5",
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        "text": "-",
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        "text": "Senior ",
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        "text": "CA ",
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        "text": "Multifamily ",
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      {
        "text": "12/16/2021",
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        "text": "405.0",
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        "text": "402.3",
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        "text": "300.0",
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      {
        "text": "Loan 1",
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        "text": "5",
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        "text": "Senior ",
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        "text": "GA ",
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        "text": "Office ",
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        "text": "9/26/2019",
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        "text": "225.7",
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      {
        "text": "Loan 2",
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        "text": "Senior ",
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        "text": "Hospitality ",
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        "text": "6/30/2022",
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        "text": "Loan 3",
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      {
        "text": "Loan 4",
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        "text": "Senior ",
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        "text": "MI ",
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        "text": "PAGE 17",
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        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "text": "8/1/2022",
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      {
        "text": "115.3",
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      {
        "text": "78.5",
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      {
        "text": "78.5",
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        "from_ocr": false,
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      {
        "text": "Loan 21 A",
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        "from_ocr": false,
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      {
        "text": "3",
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      {
        "text": "-",
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        "from_ocr": false,
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      {
        "text": "Senior ",
        "box": [
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          622.9188345249269,
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        "from_ocr": false,
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      {
        "text": "UT ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Multifamily ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "7/27/2022",
        "box": [
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        "from_ocr": false,
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      {
        "text": "75.6",
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        "from_ocr": false,
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      {
        "text": "75.6",
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      {
        "text": "75.6",
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      {
        "text": "Loan 22",
        "box": [
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        "from_ocr": false,
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      {
        "text": "3",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Senior ",
        "box": [
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          622.9188345249269,
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        "from_ocr": false,
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      {
        "text": "TN ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Hospitality ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "1/19/2022",
        "box": [
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          408.33652792257806,
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        "from_ocr": false,
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      {
        "text": "73.7",
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        "from_ocr": false,
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      {
        "text": "68.7",
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      {
        "text": "68.6",
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        "from_ocr": false,
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      {
        "text": "Loan 23",
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        "from_ocr": false,
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      {
        "text": "5",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Senior ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "GA ",
        "box": [
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      {
        "text": "Office ",
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        "from_ocr": false,
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      {
        "text": "8/27/2021",
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        "from_ocr": false,
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      {
        "text": "80.0",
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        "from_ocr": false,
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      {
        "text": "66.6",
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      {
        "text": "39.2",
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      {
        "text": "Loan 24",
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        "from_ocr": false,
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      {
        "text": "3",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Senior ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "NY ",
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        "from_ocr": false,
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      {
        "text": "Retail ",
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        "from_ocr": false,
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      {
        "text": "4/5/2019",
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        "from_ocr": false,
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      {
        "text": "50.0",
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        "from_ocr": false,
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      {
        "text": "50.0",
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        "from_ocr": false,
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      {
        "text": "50.0",
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        "from_ocr": false,
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      {
        "text": "Loan 25",
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        "from_ocr": false,
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      {
        "text": "3",
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        "from_ocr": false,
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      {
        "text": "-",
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        "from_ocr": false,
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      {
        "text": "Senior ",
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        "from_ocr": false,
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      {
        "text": "Other ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "Other ",
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        "from_ocr": false,
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      {
        "text": "4/5/2019",
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      {
        "text": "36.3",
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      {
        "text": "36.3",
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      {
        "text": "Loan 26",
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        "from_ocr": false,
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      {
        "text": "5",
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      {
        "text": "-",
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        "text": "Senior ",
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      {
        "text": "TX ",
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      {
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        "from_ocr": false,
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      {
        "text": "2/17/2022",
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      {
        "text": "28.5",
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      {
        "text": "25.4",
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      {
        "text": "22.4",
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      {
        "text": "Loan 27 B",
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      {
        "text": "5",
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      {
        "text": "-",
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      {
        "text": "7/1/2019",
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      {
        "text": "1.6",
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      {
        "text": "1.6",
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      {
        "text": "1.6",
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      {
        "text": "Loan 28",
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      {
        "text": "6% 5",
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      {
        "text": "$3,710.3",
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        "text": "$3,506.0",
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      {
        "text": "$3,155.2",
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      {
        "text": "Total / Wtd. Avg. ",
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      {
        "text": "3, 12",
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      {
        "text": "$42.2",
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      {
        "text": "Investment in ",
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      {
        "text": "unconsolidated joint ",
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      {
        "text": "venture  A",
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      {
        "text": "319.5",
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      {
        "text": "Real Estate Owned, ",
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      },
      {
        "text": "net - Hotel Portfolio 8",
        "box": [
          26.1605783465325,
          407.9929910977778,
          108.86909992154249,
          416.0653929028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "80.3",
        "box": [
          144.9610833800925,
          423.6920108638708,
          162.09586834525396,
          431.42662131880877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Estate Owned, ",
        "box": [
          26.1605783465325,
          418.8933027388708,
          107.1653618704836,
          426.62791319380875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "net - Mixed-use 8",
        "box": [
          26.1605783465325,
          429.1136675977778,
          94.111544862159,
          437.18774444380875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "286.1",
        "box": [
          142.441701570465,
          444.8143624048484,
          164.48215094283015,
          452.5489728597863
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Estate Owned, ",
        "box": [
          26.1605783465325,
          440.0156542798484,
          107.1653618704836,
          447.75026473478636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "net - Multifamily 8",
        "box": [
          26.1605783465325,
          450.2343440977778,
          92.79082792154249,
          458.31009598478636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "94.3",
        "box": [
          144.9610833800925,
          465.93668785368584,
          162.09586834525396,
          473.67129830862376
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Estate Owned, ",
        "box": [
          26.1605783465325,
          461.1326016467308,
          107.1653618704836,
          468.8672121016687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "net - Land Parcel",
        "box": [
          26.1605783465325,
          471.6924328967308,
          95.64581062856776,
          479.4270433516687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$822.4",
        "box": [
          140.04207338009252,
          487.0624475198612,
          166.98818715966135,
          494.7862554462308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Loan ",
        "box": [
          26.1605783465325,
          481.7825318948612,
          69.75967076555537,
          489.5063398212308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment Total",
        "box": [
          26.1605783465325,
          492.34502609369866,
          96.12761695427525,
          500.0688340200682
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,977.6",
        "box": [
          136.32074321308127,
          518.1404318948612,
          170.6253536034556,
          525.8642398212309
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio Total",
        "box": [
          26.1605783465325,
          518.1404318948612,
          85.7030800889674,
          525.8642398212309
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See Endnotes in the Appendix.",
        "box": [
          30.9599990859375,
          547.9401917815312,
          136.7673568256484,
          554.7211309515919
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Totals may not foot due to rounding.",
        "box": [
          30.9599990859375,
          557.1815705627812,
          154.73855644174205,
          563.9625097328419
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A. Comprised of loans secured by the same property.",
        "box": [
          30.9599990859375,
          566.4206605315312,
          213.1065551948671,
          573.2015997015919
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "B. Loan resolved after quarter-end. See pages 2 and 7 for further detail.",
        "box": [
          30.9599990859375,
          575.6620393127812,
          276.23615384627317,
          582.4429784828419
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.333333333333336,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.9999
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          65.0,
          773.6666666666666,
          75.33333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99997
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
        ],
        "from_ocr": true,
        "confidence": 0.99991
      }
    ]
  },
  {
    "page_no": 19,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "PAGE 18",
        "box": [
          740.6390533359375,
          592.4620576174688,
          772.787532649172,
          599.2429967875294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
          591.7401643127812,
          336.49439290289047,
          598.5211034828419
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Consolidated Balance Sheets",
        "box": [
          30.714317087697005,
          73.13003795271868,
          348.2589139522124,
          94.53241789385766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of March 31, 2026 and December 31, 2025",
        "box": [
          30.721258269670496,
          97.46643535294243,
          255.01051758585467,
          107.20044852921899
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "December 31, 2025",
        "box": [
          534.367561875,
          150.09686955272116,
          614.1371691821371,
          157.82067747909082
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          443.52894229710375,
          150.09686955272116,
          506.47912877954246,
          157.82067747909082
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ amounts in thousands)",
        "box": [
          172.68291173747625,
          150.09686955272116,
          272.39930092890415,
          157.82067747909082
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Assets",
        "box": [
          172.68291173747625,
          162.69809933626743,
          201.11824506923193,
          170.42190726263703
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "173,186",
        "box": [
          587.52762375,
          175.29055598546455,
          619.3794019367725,
          183.02516644040253
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "116,782 $",
        "box": [
          488.40691975405883,
          175.29055598546455,
          528.7959935250485,
          183.02516644040253
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$",
        "box": [
          421.203598125,
          175.29055598546455,
          426.0742220721522,
          183.02516644040253
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash and cash equivalents",
        "box": [
          172.68291173747625,
          175.29055598546455,
          278.85550569338477,
          183.02516644040253
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,599",
        "box": [
          592.4492966721037,
          187.8917727229408,
          619.3954104516725,
          195.62638317787878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13,662",
        "box": [
          493.3259297540588,
          187.8917727229408,
          520.2720435336277,
          195.62638317787878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Restricted cash",
        "box": [
          172.68291173747625,
          187.8917727229408,
          233.61827176695635,
          195.62638317787878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,054,152 ",
        "box": [
          580.2079021209412,
          200.48872093602205,
          621.8797692371339,
          208.22333139096003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,504,010 ",
        "box": [
          481.087198125,
          200.48872093602205,
          522.7590652411927,
          208.22333139096003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans receivable held-for-investment",
        "box": [
          172.68291173747625,
          200.48872093602205,
          317.4613325550751,
          208.22333139096003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(438,751)",
        "box": [
          581.7691635471037,
          213.08995074630207,
          619.4639384474564,
          220.82456120124004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(396,433)",
        "box": [
          482.6457966290588,
          213.08995074630207,
          520.3405715294114,
          220.82456120124004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less: current expected credit loss reserve",
        "box": [
          172.68291173747625,
          213.08995074630207,
          336.28681971771954,
          220.82456120124004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,615,401 ",
        "box": [
          580.2079021209412,
          225.6911544377083,
          621.8797692371339,
          233.42576489264627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,107,577 ",
        "box": [
          481.087198125,
          225.6911544377083,
          522.7590652411927,
          233.42576489264627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans receivable held-for-investment, net",
        "box": [
          172.68291173747625,
          225.6911544377083,
          334.9815625808026,
          233.42576489264627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "42,196 ",
        "box": [
          592.4492966721037,
          238.29238422125457,
          621.8570027702873,
          246.02699467619254
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "42,158 ",
        "box": [
          493.3259297540588,
          238.29238422125457,
          522.7336358522423,
          246.02699467619254
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity method investment",
        "box": [
          172.68291173747625,
          238.29238422125457,
          274.36156669178564,
          246.02699467619254
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "730,005 ",
        "box": [
          587.52762375,
          250.88933246106956,
          621.8409942553872,
          258.62394291600754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "764,763 ",
        "box": [
          488.40691975405883,
          250.88933246106956,
          522.720290259446,
          258.62394291600754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned held-for-investment, net",
        "box": [
          172.68291173747625,
          250.88933246106956,
          341.4640476903219,
          258.62394291600754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "143,372 ",
        "box": [
          587.52762375,
          263.61031586387077,
          621.8409942553872,
          271.34492631880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "119,456 ",
        "box": [
          488.40691975405883,
          263.61031586387077,
          522.720290259446,
          271.34492631880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other assets",
        "box": [
          172.68291173747625,
          263.61031586387077,
          222.79076961105687,
          271.34492631880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,721,759 ",
        "box": [
          580.2079021209412,
          276.2125899478933,
          621.8797692371339,
          283.9472004028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,164,398 $",
        "box": [
          481.087198125,
          276.2125899478933,
          528.7959935250485,
          283.9472004028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$",
        "box": [
          421.203598125,
          276.2125899478933,
          426.0742220721522,
          283.9472004028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total assets",
        "box": [
          172.68291173747625,
          276.2213500629062,
          223.63174065229174,
          283.9451579892758
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liabilities and Equity",
        "box": [
          172.68291173747625,
          301.42326142772123,
          260.94983060709137,
          309.14706935409083
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,857,614",
        "box": [
          580.2079021209412,
          314.01144952578954,
          619.4181769185193,
          321.7460599807275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,593,114 $",
        "box": [
          481.087198125,
          314.01144952578954,
          528.7959935250485,
          321.7460599807275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$",
        "box": [
          421.203598125,
          314.01144952578954,
          426.0742220721522,
          321.7460599807275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repurchase agreements",
        "box": [
          172.68291173747625,
          314.01144952578954,
          269.21937917923464,
          321.7460599807275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "329,452 ",
        "box": [
          587.52762375,
          326.61106068770835,
          621.8409942553872,
          334.3456711426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "339,160 ",
        "box": [
          488.40691975405883,
          326.61106068770835,
          522.720290259446,
          334.3456711426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Term participation facility",
        "box": [
          172.68291173747625,
          326.61106068770835,
          270.2705929807784,
          334.3456711426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "177,522 ",
        "box": [
          587.52762375,
          339.2133608638708,
          621.8409942553872,
          346.94797131880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          517.445098125,
          339.2133608638708,
          520.3622164242836,
          346.94797131880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Notes payable, net",
        "box": [
          172.68291173747625,
          339.2133608638708,
          246.50440095087902,
          346.94797131880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "549,447 ",
        "box": [
          587.52762375,
          351.81563494789333,
          621.8409942553872,
          359.5502454028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "465,577 ",
        "box": [
          488.40691975405883,
          351.81563494789333,
          522.720290259446,
          359.5502454028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured term loan, net",
        "box": [
          172.68291173747625,
          351.81563494789333,
          262.27260797403363,
          359.5502454028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "230,992 ",
        "box": [
          587.52762375,
          364.53022211387076,
          621.8409942553872,
          372.26483256880874
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "231,699 ",
        "box": [
          488.40691975405883,
          364.53022211387076,
          522.720290259446,
          372.26483256880874
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt related to real estate owned hotel portfolio, net",
        "box": [
          172.68291173747625,
          364.53022211387076,
          376.24170429139104,
          372.26483256880874
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "37,063 ",
        "box": [
          592.4492966721037,
          377.1324961978933,
          621.8570027702873,
          384.8671066528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34,653 ",
        "box": [
          493.3259297540588,
          377.1324961978933,
          522.7336358522423,
          384.8671066528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other liabilities",
        "box": [
          172.68291173747625,
          377.1324961978933,
          230.32446852211964,
          384.8671066528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,774 ",
        "box": [
          597.3683066721038,
          389.73479640078955,
          621.8703483630836,
          397.4694068557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,347 ",
        "box": [
          498.24760270289624,
          389.73479640078955,
          522.749644393876,
          397.4694068557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Management fee payable - affiliate",
        "box": [
          172.68291173747625,
          389.73479640078955,
          308.5172551269414,
          397.4694068557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,189,864 ",
        "box": [
          580.2079021209412,
          402.33440756270835,
          621.8797692371339,
          410.0690180176463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,671,550 ",
        "box": [
          481.087198125,
          402.33440756270835,
          522.7590652411927,
          410.0690180176463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities",
        "box": [
          172.68291173747625,
          402.3431676777212,
          233.6182717669565,
          410.0669756040908
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          172.68291173747625,
          427.54241609369865,
          199.54142436691652,
          435.2662240200683
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,402",
        "box": [
          597.3683066721038,
          440.1332410217308,
          619.4087560444689,
          447.86785147666876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,402",
        "box": [
          498.24760270289624,
          440.1332410217308,
          520.2880520752614,
          447.86785147666876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common stock",
        "box": [
          172.68291173747625,
          440.1332410217308,
          231.55088462392067,
          447.86785147666876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,752,884 ",
        "box": [
          580.2079021209412,
          452.7355411978934,
          621.8797692371339,
          460.4701516528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,768,131 ",
        "box": [
          481.087198125,
          452.7355411978934,
          522.7590652411927,
          460.4701516528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional paid-in capital",
        "box": [
          172.68291173747625,
          452.7355411978934,
          268.6236913583598,
          460.4701516528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,222,391)",
        "box": [
          574.4467789959413,
          465.4528174048484,
          619.5000505070993,
          473.18742785978634
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,276,685)",
        "box": [
          475.326075,
          465.4528174048484,
          520.3793465111581,
          473.18742785978634
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated deficit",
        "box": [
          172.68291173747625,
          465.4528174048484,
          249.39523890512402,
          473.18742785978634
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,531,895 ",
        "box": [
          580.2079021209412,
          478.05240244789337,
          621.8797692371339,
          485.7870129028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,492,848 ",
        "box": [
          481.087198125,
          478.05240244789337,
          522.7590652411927,
          485.7870129028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total equity",
        "box": [
          172.68291173747625,
          478.0611625629062,
          222.05491994997638,
          485.7849704892758
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,721,759 ",
        "box": [
          580.2079021209412,
          503.25700285368583,
          621.8797692371339,
          510.99161330862376
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,164,398 $",
        "box": [
          481.087198125,
          503.25700285368583,
          528.7959935250485,
          510.99161330862376
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$",
        "box": [
          421.203598125,
          503.25700285368583,
          426.0742220721522,
          510.99161330862376
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities and equity",
        "box": [
          172.68291173747625,
          503.26576296869865,
          280.6600893860348,
          510.98957089506825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.333333333333336,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.99995
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          64.66666666666667,
          774.0,
          75.0
        ],
        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
        ],
        "from_ocr": true,
        "confidence": 0.99993
      }
    ]
  },
  {
    "page_no": 20,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "PAGE 19",
        "box": [
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          592.4620576174688,
          772.787532649172,
          599.2429967875294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
          591.7401643127812,
          336.49439290289047,
          598.5211034828419
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Consolidated Statements of Operations",
        "box": [
          30.714317087697005,
          73.13003795271868,
          453.46071169205925,
          94.53241789385766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "For the Three Months Ended March 31, 2026 and December 31, 2025",
        "box": [
          30.721258269670496,
          97.46643535294243,
          369.8268346211135,
          107.20044852921899
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Three Months Ended",
        "box": [
          531.9668502459413,
          148.05655443112744,
          619.1299946239353,
          155.78036235749704
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Three Months Ended",
        "box": [
          432.12433500000003,
          148.05655443112744,
          519.2874793779941,
          155.78036235749704
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "December 31, 2025",
        "box": [
          535.6882195778962,
          160.17870448056988,
          615.4578268850333,
          167.90251240693954
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          444.2454277028962,
          160.17870448056988,
          507.19561418533493,
          167.90251240693954
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ amounts in thousands, except share and per share data)",
        "box": [
          172.802678429535,
          160.17870448056988,
          405.32241121597724,
          167.90251240693954
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revenue",
        "box": [
          172.802678429535,
          172.30085450327863,
          209.384918723254,
          180.0246624296483
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "74,427",
        "box": [
          594.0078952028963,
          184.4099759133133,
          620.9540089824651,
          192.14458636825128
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          525.0080864528962,
          184.4099759133133,
          532.3403027186631,
          192.14458636825128
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58,999",
        "box": [
          494.2883447540588,
          184.4099759133133,
          521.2344585336276,
          192.14458636825128
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          425.1655450880812,
          184.4099759133133,
          432.4977613538482,
          192.14458636825128
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Interest and related income",
        "box": [
          172.802678429535,
          184.4099759133133,
          280.07904687706434,
          192.14458636825128
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "61,929 ",
        "box": [
          594.0078952028963,
          196.65189262808082,
          623.4156013010797,
          204.3865030830188
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50,894 ",
        "box": [
          494.2883447540588,
          196.65189262808082,
          523.6960508522423,
          204.3865030830188
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less: interest and related expense",
        "box": [
          172.802678429535,
          196.65189262808082,
          308.02381376809967,
          204.3865030830188
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,498 ",
        "box": [
          594.0078952028963,
          208.76976108032454,
          623.4156013010797,
          216.50437153526252
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,105 ",
        "box": [
          499.2073547540588,
          208.76976108032454,
          523.7093964450386,
          216.50437153526252
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income",
        "box": [
          172.802678429535,
          208.76976108032454,
          248.80543628114077,
          216.50437153526252
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34,249 ",
        "box": [
          594.0078952028963,
          220.89192414910332,
          623.4156013010797,
          228.6265346040413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21,414 ",
        "box": [
          494.2883447540588,
          220.89192414910332,
          523.6960508522423,
          228.6265346040413
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Revenue from real estate owned",
        "box": [
          172.802678429535,
          220.89192414910332,
          300.6653171572941,
          228.6265346040413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46,747 ",
        "box": [
          594.0078952028963,
          233.00977955527708,
          623.4156013010797,
          240.74439001021506
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29,519 ",
        "box": [
          494.2883447540588,
          233.00977955527708,
          523.6960508522423,
          240.74439001021506
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total net revenue",
        "box": [
          172.802678429535,
          233.00977955527708,
          241.62214197059248,
          240.74439001021506
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Expenses",
        "box": [
          172.802678429535,
          257.2585842641162,
          214.02777968007177,
          264.9823921904858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,774 ",
        "box": [
          598.9269052028963,
          269.4917408638708,
          623.4289468938761,
          277.2263513188088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,347 ",
        "box": [
          499.2073547540588,
          269.4917408638708,
          523.7093964450386,
          277.2263513188088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Management fees - affiliate",
        "box": [
          172.802678429535,
          269.4917408638708,
          279.5534399762926,
          277.2263513188088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,869 ",
        "box": [
          598.9269052028963,
          281.61014452578956,
          623.4289468938761,
          289.34475498072754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,212 ",
        "box": [
          499.2073547540588,
          281.61014452578956,
          523.7093964450386,
          289.34475498072754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General and administrative expenses",
        "box": [
          172.802678429535,
          281.61014452578956,
          318.6585933937162,
          289.34475498072754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,242 ",
        "box": [
          598.9269052028963,
          293.73123722868576,
          623.4289468938761,
          301.46584768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,317 ",
        "box": [
          499.2073547540588,
          293.73123722868576,
          523.7093964450386,
          301.46584768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock-based compensation expense",
        "box": [
          172.802678429535,
          293.73123722868576,
          315.2947092287766,
          301.46584768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Estate Owned:",
        "box": [
          172.802678429535,
          305.85499285368576,
          251.4422309000128,
          313.58960330862374
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21,375 ",
        "box": [
          594.0078952028963,
          317.97070744789335,
          623.4156013010797,
          325.7053179028313
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18,054 ",
        "box": [
          494.2883447540588,
          317.97070744789335,
          523.6960508522423,
          325.7053179028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Operating expenses",
        "box": [
          185.1643748556975,
          317.97070744789335,
          264.1806122717284,
          325.7053179028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,026 ",
        "box": [
          598.9269052028963,
          330.21476494789334,
          623.4289468938761,
          337.9493754028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,176 ",
        "box": [
          499.2073547540588,
          330.21476494789334,
          523.7093964450386,
          337.9493754028313
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest expense",
        "box": [
          185.1643748556975,
          330.21476494789334,
          250.3921912414809,
          337.9493754028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,731 ",
        "box": [
          598.9269052028963,
          342.3305056877083,
          623.4289468938761,
          350.0651161426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,399 ",
        "box": [
          499.2073547540588,
          342.3305056877083,
          523.7093964450386,
          350.0651161426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation and amortization",
        "box": [
          185.1643748556975,
          342.3305056877083,
          302.2520721176342,
          350.0651161426463
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "52,017 ",
        "box": [
          594.0078952028963,
          354.4542613127083,
          623.4156013010797,
          362.1888717676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46,505 ",
        "box": [
          494.2883447540588,
          354.4542613127083,
          523.6960508522423,
          362.1888717676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total expenses",
        "box": [
          172.802678429535,
          354.4542613127083,
          232.45906166713712,
          362.1888717676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,382)                           ",
        "box": [
          593.168445,
          378.69375765078956,
          688.0142102442743,
          386.42836810572754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          518.407513125,
          378.69375765078956,
          521.3246314242837,
          386.42836810572754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loss on partial sales of real estate owned",
        "box": [
          172.802678429535,
          378.69375765078956,
          335.70577720874905,
          386.42836810572754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(31)",
        "box": [
          605.4071766290588,
          390.8121613127083,
          621.0264616969948,
          398.5467717676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(38)",
        "box": [
          505.6875739959412,
          390.8121613127083,
          521.3068590638773,
          398.5467717676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loss from equity method investment",
        "box": [
          172.802678429535,
          390.8121613127083,
          314.690261292889,
          398.5467717676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(847)",
        "box": [
          600.4881666290588,
          403.05355586387077,
          621.0131161041985,
          410.78816631880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5,898)",
        "box": [
          493.4462316290588,
          403.05355586387077,
          521.329677715004,
          410.78816631880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loss on extinguishment of debt",
        "box": [
          172.802678429535,
          403.05355586387077,
          295.50560941471736,
          410.78816631880875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(211,681)",
        "box": [
          583.3250991290588,
          415.17195952578953,
          621.0198740294114,
          422.9065699807275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(31,372)",
        "box": [
          488.52722162905883,
          415.17195952578953,
          521.3163321222077,
          422.9065699807275
        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Provision for current expected credit loss reserve",
        "box": [
          172.802678429535,
          415.17195952578953,
          364.3513533008135,
          422.9065699807275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(219,211)",
        "box": [
          583.3250991290588,
          439.6547486548484,
          621.0198740294114,
          447.3893591097863
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$ ",
        "box": [
          525.0080864528962,
          439.6547486548484,
          532.3403027186631,
          447.3893591097863
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(54,294)",
        "box": [
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        "from_ocr": false,
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      {
        "text": "$ ",
        "box": [
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          432.4977613538482,
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      {
        "text": "Net loss",
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      {
        "text": "Net loss per share of common stock:",
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          172.802678429535,
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      {
        "text": "(1.56)",
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      {
        "text": "(0.39) $ ",
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      {
        "text": "$ ",
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      {
        "text": "Basic and diluted",
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          172.802678429535,
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          240.045321268277,
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        "from_ocr": false,
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      {
        "text": "Weighted-average shares of common stock outstanding:",
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          172.802678429535,
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          411.19168827459606,
          485.3064259381132
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "140,439,492 ",
        "box": [
          571.9258177028962,
          490.29645994789337,
          623.4090136334963,
          498.0310704028313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "140,456,493",
        "box": [
          472.2089302028962,
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          521.2305338148816,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic and diluted",
        "box": [
          172.802678429535,
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          240.045321268277,
          498.0310704028313
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
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          757.6666666666666,
          66.0
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        "from_ocr": true,
        "confidence": 0.99995
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      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          64.66666666666667,
          774.0,
          75.0
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        "from_ocr": true,
        "confidence": 0.99998
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      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
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          747.3333333333334,
          84.66666666666666
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        "from_ocr": true,
        "confidence": 0.99993
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  },
  {
    "page_no": 21,
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    "cells": [
      {
        "text": "PAGE 20",
        "box": [
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
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          336.49439290289047,
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      {
        "text": "2025",
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          747.9994404966595,
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        "from_ocr": false,
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      {
        "text": "Q1 2025",
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          690.9955465147312,
          139.82138402684706
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      {
        "text": "Q2 2025",
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          626.7944458897312,
          139.82138402684706
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        "from_ocr": false,
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      {
        "text": "Q3 2025",
        "box": [
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          562.6782834927561,
          139.82138402684706
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        "from_ocr": false,
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      {
        "text": "Q4 2025",
        "box": [
          464.645941875,
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          498.5125465147312,
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        "from_ocr": false,
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      {
        "text": "Q1 2026",
        "box": [
          400.44484125,
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          434.31144588973126,
          139.82138402684706
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        "from_ocr": false,
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      {
        "text": "Distributable Loss Reconciliation",
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          170.54062098208212,
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ amounts in thousands, except share and per share data)",
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      {
        "text": "$       (489,069)",
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        "from_ocr": false,
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      {
        "text": "$         (78,623)",
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      {
        "text": "$       (181,707)",
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      {
        "text": "$           (9,528)",
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      {
        "text": "$       (219,211)",
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      {
        "text": "$         (54,294)",
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        "text": "Adjustments:",
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        "text": "14,139 ",
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        "text": "5,074 ",
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        "text": "4,762 ",
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        "text": "466,527 ",
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        "text": "(827)",
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        "text": "-",
        "box": [
          510.7268858709412,
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          513.6440041702249,
          296.6671395586238
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-",
        "box": [
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          449.56320542022485,
          296.6671395586238
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Valuation adjustment for loan receivable held-for-sale",
        "box": [
          39.001333333668754,
          288.9325291036858,
          247.98263708054608,
          296.6671395586238
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(12,618)",
        "box": [
          737.530695,
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          770.3198054931489,
          310.94562498072753
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "49 ",
        "box": [
          696.2484591290588,
          303.21101452578955,
          708.4863398020294,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "313 ",
        "box": [
          627.2459352459413,
          303.21101452578955,
          644.4770814762442,
          310.94562498072753
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(12,980)",
        "box": [
          545.047695,
          303.21101452578955,
          577.8368054931489,
          310.94562498072753
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          510.7268858709412,
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          513.6440041702249,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-",
        "box": [
          446.6460871209412,
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          449.56320542022485,
          310.94562498072753
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Valuation adjustment for real estate owned held-for-sale",
        "box": [
          39.001333333668754,
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          258.4071739458539,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "1,016 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "1,640 ",
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          644.4309704409799,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(2,006)",
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        "from_ocr": false,
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      {
        "text": "1,382 ",
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        "from_ocr": false,
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      {
        "text": "-",
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        "from_ocr": false,
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      {
        "text": "Loss (gain) on partial sale of real estate owned",
        "box": [
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        "from_ocr": false,
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      {
        "text": "35,185 ",
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        "from_ocr": false,
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      {
        "text": "11,556 ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "14,849 ",
        "box": [
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        "from_ocr": false,
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      {
        "text": "5,850 ",
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      {
        "text": "2,930 ",
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        "from_ocr": false,
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      {
        "text": "(7,481)",
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          339.50324247909083
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        "from_ocr": false,
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      {
        "text": "Distributable (Loss) Earnings prior to realized gains and losses",
        "box": [
          31.07958997729125,
          331.7794345527212,
          296.4760344070114,
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        "from_ocr": false,
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      {
        "text": "(1,394)",
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          742.449705,
          345.93420994789335,
          770.3331510859452,
          353.66882040283133
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        "from_ocr": false,
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      {
        "text": "(547)",
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        "from_ocr": false,
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      {
        "text": "-",
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        "from_ocr": false,
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(847)",
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      {
        "text": "(5,898)",
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        "from_ocr": false,
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      {
        "text": "Loss on extinguishment of debt",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(312,017)",
        "box": [
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          770.3064599003526,
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        "from_ocr": false,
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      {
        "text": "(46,653)",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(120,817)",
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        "from_ocr": false,
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      {
        "text": "(42,325)",
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        "from_ocr": false,
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      {
        "text": "(102,222)",
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          513.6196963532489,
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        "from_ocr": false,
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      {
        "text": "(61,861)",
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        "from_ocr": false,
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      {
        "text": "Principal charge-offs",
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          119.50679030188662,
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        "from_ocr": false,
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      {
        "text": "A",
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        "text": "12,618 ",
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      {
        "text": "(49)",
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      {
        "text": "(313)",
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        "text": "12,980 ",
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      {
        "text": "-",
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      {
        "text": "-",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Valuation adjustment for real estate owned held-for-sale",
        "box": [
          39.001333333668754,
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          258.4071739458539,
          382.22850643362375
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      {
        "text": "(1,016)",
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      {
        "text": "-",
        "box": [
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          706.1270041702248,
          396.50699185572756
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        "from_ocr": false,
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      {
        "text": "(1,640)",
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      {
        "text": "2,006 ",
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          580.2298698159798,
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        "from_ocr": false,
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      {
        "text": "(1,382)",
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        "from_ocr": false,
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      {
        "text": "-",
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        "from_ocr": false,
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      {
        "text": "(Loss) gain on partial sale of real estate owned",
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        "from_ocr": false,
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      {
        "text": "(2,340)",
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        "from_ocr": false,
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      {
        "text": "-",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "(2,140)",
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        "from_ocr": false,
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      {
        "text": "(58)",
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        "from_ocr": false,
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      {
        "text": "(142)",
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          403.05355586387077,
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        "from_ocr": false,
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      {
        "text": "-",
        "box": [
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          410.78816631880875
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Previously recognized depreciation and amortization on partial real estate owned sold",
        "box": [
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        "from_ocr": false,
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      {
        "text": "B",
        "box": [
          375.8439776146545,
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          379.76009333515725,
          406.70494318272915
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$       (268,964)",
        "box": [
          710.4066427028962,
          417.2204995527212,
          770.3521097359226,
          424.9443074790908
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$         (35,693)",
        "box": [
          646.208205,
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          706.1536720330263,
          424.9443074790908
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$       (110,061)",
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          642.0728732830263,
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        "from_ocr": false,
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      {
        "text": "$         (21,547)",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$       (101,663)",
        "box": [
          453.725205,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$          (75,240)",
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          449.52438102354733,
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        "from_ocr": false,
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      {
        "text": "Distributable Loss",
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          31.07958997729125,
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          108.04596048031215,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "142,791,490 ",
        "box": [
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      {
        "text": "142,192,694 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "142,922,632 ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "143,082,634 ",
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "142,956,410 ",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "143,460,120",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Weighted average diluted shares - Distributable Loss",
        "box": [
          31.07958997729125,
          431.4929139007896,
          238.60671463203332,
          439.22752435572755
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$               0.02  $               0.04  $               0.10  $               0.08  $               0.24 ",
        "box": [
          454.32405145289624,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$              (0.05)    ",
        "box": [
          387.00577991191875,
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        "from_ocr": false,
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      {
        "text": "Diluted Distributable (Loss) Earnings per share prior to realized gains and losses",
        "box": [
          31.07958997729125,
          445.7801594379062,
          371.19981546673915,
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$             (1.88)",
        "box": [
          710.28900375,
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          770.3220719331548,
          467.7878308950682
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$             (0.25)",
        "box": [
          646.087903125,
          460.0640229686987,
          706.1209713081548,
          467.7878308950682
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$             (0.77)",
        "box": [
          582.0097672971037,
          460.0640229686987,
          642.0428354802585,
          467.7878308950682
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$             (0.15)",
        "box": [
          517.8060037500001,
          460.0640229686987,
          577.8390719331547,
          467.7878308950682
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$             (0.71)",
        "box": [
          453.604903125,
          460.0640229686987,
          513.6379713081548,
          467.7878308950682
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$              (0.52)",
        "box": [
          387.00577991191875,
          460.0640229686987,
          449.5792814488048,
          467.7878308950682
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Diluted Distributable Loss per share",
        "box": [
          31.07958997729125,
          460.0640229686987,
          182.59453923978262,
          467.7878308950682
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Reconciliation of GAAP Net Loss to",
        "box": [
          31.081231255899002,
          58.8440346025925,
          411.3105859442034,
          80.24641454373136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Loss",
        "box": [
          31.081231255899002,
          85.00151345211793,
          223.5471930195824,
          106.40389339325685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Totals may not foot or cross-foot due to rounding. Refer to page 22 for definition of Distributable Earnings (Loss).",
        "box": [
          31.07999896875,
          508.1011109534063,
          415.44095075791347,
          514.8820501234669
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A. For the three months ended March 31, 2026, amount includes a $12.9 million charge-off of accrued interest receivable and a $0.3 million charge-off of an exit fee related to the sale of a hospitality loan in March",
        "box": [
          31.07999896875,
          517.3402009221563,
          757.4236634523731,
          524.1211400922169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026. For the three months ended December 31, 2025, amount includes a $16.9 million charge-off of accrued interest receivable related to the foreclosure on a land parcel in December 2025 and the mortgage",
        "box": [
          31.07999896875,
          526.5815797034063,
          757.423663452374,
          533.3625188734669
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "foreclosure of a multifamily property in January 2026. For the three months ended June 30, 2025, amount includes a $2.9 million charge-off of accrued interest receivable related to the mortgage foreclosures on",
        "box": [
          31.07999896875,
          535.8206696721563,
          757.2700634556552,
          542.6016088422169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "multifamily properties in July 2025. For the three months ended March 31, 2025, amount includes a $3.5 million charge-off of accrued interest receivable and a $0.5 million charge-off of an exit fee related to the",
        "box": [
          31.07999896875,
          545.0620484534063,
          757.2700634556546,
          551.8429876234669
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "discounted payoff of a land loan.",
        "box": [
          31.07999896875,
          554.3011384221563,
          142.18655659525774,
          561.0820775922169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "B. Reflects previously recognized depreciation and amortization on the portions of our mixed-use real estate owned asset that were sold during the year ended December 31, 2025. Amounts not previously",
        "box": [
          31.07999896875,
          563.5401826174688,
          757.5311834500767,
          570.3211217875294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "recognized in Distributable Earnings (Loss).",
        "box": [
          31.07999896875,
          572.7816071721563,
          179.74175579299208,
          579.5625463422169
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
          709.3333333333334,
          54.333333333333336,
          757.6666666666666,
          66.0
        ],
        "from_ocr": true,
        "confidence": 0.99995
      },
      {
        "text": "MORTGAGE",
        "box": [
          709.0,
          64.66666666666667,
          774.0,
          75.0
        ],
        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "TRUST",
        "box": [
          709.3333333333334,
          74.33333333333333,
          747.3333333333334,
          84.66666666666666
        ],
        "from_ocr": true,
        "confidence": 0.99993
      }
    ]
  },
  {
    "page_no": 22,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "PAGE 21",
        "box": [
          740.6390533359375,
          592.4620576174688,
          772.787532649172,
          599.2429967875294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
        "box": [
          30.5999994375,
          591.7401643127812,
          336.49439290289047,
          598.5211034828419
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "June 30, 2025",
        "box": [
          680.7696178790588,
          158.25815605103492,
          738.288533053522,
          165.98196397740458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "September 30, 2025",
        "box": [
          560.52653625,
          158.25815605103492,
          643.1869815113821,
          165.98196397740458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "December 31, 2025",
        "box": [
          454.20374957789625,
          158.25815605103492,
          533.9733568850334,
          165.98196397740458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          354.84507866191876,
          158.25815605103492,
          417.7952651443576,
          165.98196397740458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value per share Reconciliation",
        "box": [
          24.95862835839,
          158.25815605103492,
          177.99783763311964,
          165.98196397740458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ amounts in thousands, except for per share data)",
        "box": [
          24.95862835839,
          172.89968791010494,
          228.30717815199603,
          180.62349583647455
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      1,757,030 ",
        "box": [
          664.6919302028963,
          187.5281911030333,
          765.7573771063043,
          195.26280155797127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      1,748,811",
        "box": [
          557.0458228790588,
          187.5281911030333,
          655.6496774638523,
          195.26280155797127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      1,531,895",
        "box": [
          449.28473957789623,
          187.5281911030333,
          547.8885941626897,
          195.26280155797127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      1,492,848",
        "box": [
          341.52365625,
          187.5281911030333,
          440.12751083479503,
          195.26280155797127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Equity",
        "box": [
          24.95862835839,
          187.5281911030333,
          71.47483907669651,
          195.26280155797127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "143,188,717 ",
        "box": [
          714.2482616721038,
          202.1697360081733,
          765.7314576027038,
          209.90434646311127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "142,933,527 ",
        "box": [
          606.6074802459412,
          202.1697360081733,
          658.0906761765413,
          209.90434646311127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "143,285,119 ",
        "box": [
          498.8464491290588,
          202.1697360081733,
          550.3296450596589,
          209.90434646311127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "144,487,311 ",
        "box": [
          391.08802875000003,
          202.1697360081733,
          442.5712246806002,
          209.90434646311127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Number of shares of common stock outstanding and RSUs",
        "box": [
          24.95862835839,
          202.1697360081733,
          255.70005779722098,
          209.90434646311127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A",
        "box": [
          257.2810561837005,
          200.6335339140773,
          261.19717190420323,
          205.82523793272918
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                            12.27 ",
        "box": [
          667.0899266721037,
          216.81126784050957,
          765.7901425220384,
          224.54587829544755
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                             12.24 ",
        "box": [
          556.9255210040589,
          216.81126784050957,
          658.0785690575956,
          224.54587829544755
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                             10.69 ",
        "box": [
          449.16443770289624,
          216.81126784050957,
          550.3174857564329,
          224.54587829544755
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                             10.33 ",
        "box": [
          341.4060172971038,
          216.81126784050957,
          442.55906535064236,
          224.54587829544755
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value per share",
        "box": [
          24.95862835839,
          216.81126784050957,
          110.07190582337418,
          224.54587829544755
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.03 ",
        "box": [
          746.1710221209412,
          237.9330711524758,
          765.7673994047174,
          245.66768160741378
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.06 ",
        "box": [
          638.5302928790588,
          237.9330711524758,
          658.1266701628349,
          245.66768160741378
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.10 ",
        "box": [
          530.7665466290588,
          237.9330711524758,
          550.362923912835,
          245.66768160741378
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          423.0054633278962,
          237.9330711524758,
          442.60184061167246,
          245.66768160741378
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Add back: accumulated depreciation and amortization on real estate owned ",
        "box": [
          24.95862835839,
          232.6504925786383,
          322.95146075097585,
          240.38510303357629
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and related lease intangibles",
        "box": [
          24.95862835839,
          243.21139422125452,
          137.61370742381774,
          250.9460046761925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.97 ",
        "box": [
          746.1710221209412,
          258.93083922125453,
          765.7673994047174,
          266.6654496761925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.98 ",
        "box": [
          638.5302928790588,
          258.93083922125453,
          658.1266701628349,
          266.6654496761925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.54 ",
        "box": [
          530.7665466290588,
          258.93083922125453,
          550.362923912835,
          266.6654496761925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.35 ",
        "box": [
          423.0054633278962,
          258.93083922125453,
          442.60184061167246,
          266.6654496761925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Add back: general CECL reserve",
        "box": [
          24.95862835839,
          258.93083922125453,
          154.31048663833607,
          266.6654496761925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                            13.27 ",
        "box": [
          667.0899266721037,
          273.57130068770834,
          765.7901425220384,
          281.3059111426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                             13.28 ",
        "box": [
          556.9255210040589,
          273.57130068770834,
          658.0785690575956,
          281.3059111426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                             11.33 ",
        "box": [
          449.16443770289624,
          273.57130068770834,
          550.3174857564329,
          281.3059111426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                             10.83 ",
        "box": [
          341.4060172971038,
          273.57130068770834,
          442.55906535064236,
          281.3059111426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted Book Value per share",
        "box": [
          24.95862835839,
          273.57130068770834,
          147.03959117765913,
          281.3059111426463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14",
        "box": [
          148.801541838684,
          272.0311069969553,
          155.30488115831767,
          277.2228110156072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "June 30, 2025",
        "box": [
          680.7696178790588,
          302.85886901580244,
          738.288533053522,
          310.58267694217204
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "September 30, 2025",
        "box": [
          560.52653625,
          302.85886901580244,
          643.1869815113821,
          310.58267694217204
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "December 31, 2025",
        "box": [
          454.20374957789625,
          302.85886901580244,
          533.9733568850334,
          310.58267694217204
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          354.84507866191876,
          302.85886901580244,
          417.7952651443576,
          310.58267694217204
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Debt-to-Equity and Total Leverage Reconciliation",
        "box": [
          24.95862835839,
          302.85886901580244,
          247.72835313551525,
          310.58267694217204
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ amounts in thousands)",
        "box": [
          24.95862835839,
          317.50094910388367,
          124.76261869994667,
          325.2247570302533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      3,311,106 ",
        "box": [
          664.6919302028963,
          332.13426910368577,
          765.7573771063043,
          339.86887955862375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      2,938,222",
        "box": [
          557.0458228790588,
          332.13426910368577,
          655.6496774638523,
          339.86887955862375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                     2,595,580",
        "box": [
          451.8057008709412,
          332.13426910368577,
          547.8691221020043,
          339.86887955862375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                     2,163,973",
        "box": [
          344.04464366191877,
          332.13426910368577,
          440.10806489298335,
          339.86887955862375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asset specific debt",
        "box": [
          24.95862835839,
          332.13426910368577,
          98.69251642166417,
          339.86887955862375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "708,378 ",
        "box": [
          731.40866625,
          346.77099722868576,
          765.7220367553872,
          354.50560768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "707,678 ",
        "box": [
          623.7678847971038,
          346.77099722868576,
          658.081255302491,
          354.50560768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "549,447 ",
        "box": [
          516.0095166290588,
          346.77099722868576,
          550.322887134446,
          354.50560768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "465,577 ",
        "box": [
          408.24308133808125,
          346.77099722868576,
          442.5564518434685,
          354.50560768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured term loan, net",
        "box": [
          24.95862835839,
          346.77099722868576,
          114.54832459494756,
          354.50560768362374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,019,484 ",
        "box": [
          724.0916597540588,
          361.4130511978933,
          765.7635268702516,
          369.1476616528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,645,900 ",
        "box": [
          616.4455002459412,
          361.4130511978933,
          658.1173673621339,
          369.1476616528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,145,027 ",
        "box": [
          508.6844691290588,
          361.4130511978933,
          550.3563362452516,
          369.1476616528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,692,550 ",
        "box": [
          400.92604875,
          361.4130511978933,
          442.5979158661928,
          369.1476616528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total debt",
        "box": [
          24.95862835839,
          361.4130511978933,
          64.26526442110966,
          369.1476616528313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(209,204)",
        "box": [
          725.647543125,
          376.05513131270834,
          763.3423180253526,
          383.7897417676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(339,518)",
        "box": [
          618.0067616721038,
          376.05513131270834,
          655.7015365724563,
          383.7897417676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(173,186)",
        "box": [
          510.2456783709412,
          376.05513131270834,
          547.9404532712938,
          383.7897417676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(116,782)",
        "box": [
          402.48731020289625,
          376.05513131270834,
          440.18208510324894,
          383.7897417676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less: cash and cash equivalents",
        "box": [
          24.95862835839,
          376.05513131270834,
          152.85630754620064,
          383.7897417676463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      3,810,280 ",
        "box": [
          664.6919302028963,
          390.69185943770833,
          765.7573771063043,
          398.4264698926463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      3,306,382 ",
        "box": [
          557.0458228790588,
          390.69185943770833,
          658.1112697824669,
          398.4264698926463
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      {
        "text": "$                      2,971,841 ",
        "box": [
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          390.69185943770833,
          550.3501864813044,
          398.4264698926463
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        "confidence": 1.0
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      {
        "text": "$                      2,512,768 ",
        "box": [
          341.52365625,
          390.69185943770833,
          442.5891031534097,
          398.4264698926463
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        "confidence": 1.0
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      {
        "text": "Net Debt",
        "box": [
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          59.797605764549125,
          398.4264698926463
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$                      1,757,030 ",
        "box": [
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          405.33393952578956,
          765.7573771063043,
          413.06854998072754
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$                      1,748,811 ",
        "box": [
          557.0458228790588,
          405.33393952578956,
          658.1112697824669,
          413.06854998072754
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      {
        "text": "$                      1,531,895 ",
        "box": [
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          405.33393952578956,
          550.3501864813044,
          413.06854998072754
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$                      1,492,848 ",
        "box": [
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          405.33393952578956,
          442.5891031534097,
          413.06854998072754
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      {
        "text": "Total Equity",
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          24.95862835839,
          405.33393952578956,
          71.47483907669651,
          413.06854998072754
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        "confidence": 1.0
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      {
        "text": "2.2x ",
        "box": [
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          419.9760196138708,
          765.7857385048509,
          427.71063006880877
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        "confidence": 1.0
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      {
        "text": "1.9x ",
        "box": [
          639.2493889959412,
          419.9760196138708,
          658.1449570786882,
          427.71063006880877
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      {
        "text": "1.9x ",
        "box": [
          531.4883578790588,
          419.9760196138708,
          550.3839259618059,
          427.71063006880877
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "1.7x ",
        "box": [
          423.72458553691877,
          419.9760196138708,
          442.62015361966587,
          427.71063006880877
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      {
        "text": "Net Debt-to-Equity Ratio ",
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          24.95862835839,
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          123.13323730755401,
          427.71063006880877
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10, 14",
        "box": [
          123.23995208065799,
          418.43311521243237,
          139.7393825787521,
          423.6248192310842
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$                         830,000 ",
        "box": [
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          434.61272164673073,
          765.7192982994773,
          442.3473321016687
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                         830,000 ",
        "box": [
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          434.61272164673073,
          658.0785690575949,
          442.3473321016687
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        "confidence": 1.0
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      {
        "text": "$                         830,000 ",
        "box": [
          449.16443770289624,
          434.61272164673073,
          550.3174857564323,
          442.3473321016687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                         830,000 ",
        "box": [
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          434.61272164673073,
          442.5590653506419,
          442.3473321016687
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        "confidence": 1.0
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      {
        "text": "Non-consolidated senior loans",
        "box": [
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          442.3473321016687
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      {
        "text": "$                      4,640,280 ",
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          765.7573771063043,
          456.9894383086238
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        "from_ocr": false,
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      {
        "text": "$                      4,136,382 ",
        "box": [
          557.0458228790588,
          449.2548278536858,
          658.1112697824669,
          456.9894383086238
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "$                      3,801,841 ",
        "box": [
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          550.3501864813044,
          456.9894383086238
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$                      3,342,768 ",
        "box": [
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      {
        "text": "Total Leverage",
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          83.79156078478294,
          456.9894383086238
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        "confidence": 1.0
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      {
        "text": "2.6x ",
        "box": [
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          463.8942189007896,
          765.7857385048509,
          471.62882935572753
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "2.4x ",
        "box": [
          639.2493889959412,
          463.8942189007896,
          658.1449570786882,
          471.62882935572753
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      {
        "text": "2.5x ",
        "box": [
          531.4883578790588,
          463.8942189007896,
          550.3839259618059,
          471.62882935572753
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      {
        "text": "2.2x ",
        "box": [
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          442.62015361966587,
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      {
        "text": "Total Leverage Ratio ",
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          109.4674578874866,
          471.62882935572753
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      {
        "text": "11, 14",
        "box": [
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          126.00268680840445,
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      {
        "text": "Adjusted Book Value per share, Net Debt-to-",
        "box": [
          31.081231255899002,
          58.8440346025925,
          508.4404485118455,
          80.24641454373136
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      {
        "text": "Equity and Total Leverage Calculations",
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      {
        "text": "See Endnotes in the Appendix.",
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      {
        "text": "A. As of March 31, 2026, amount excludes 7,542,227 warrants outstanding as the exercise price of $4.00 per share exceeded the closing share price of our common stock.",
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      {
        "text": "CLAROS",
        "box": [
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      {
        "text": "MORTGAGE",
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      {
        "text": "TRUST",
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  {
    "page_no": 23,
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      {
        "text": "PAGE 22",
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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      {
        "text": "Important Notices",
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      {
        "text": "The information herein generally speaks as of the date hereof or such earlier date referred to on specific pages herein. In furnishing this document, Claros Mortgage Trust, Inc. and its consolidated subsidiaries",
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        "text": "(the 'Company' or 'CMTG') do not undertake to update the information herein. No legal commitment or obligation shall arise by the provision of this presentation. All financial information is provided for general",
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      {
        "text": "reference purposes only and is superseded by, and is qualified in its entirety by reference to, CMTG's financial statements.",
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        "text": "No Offer or Solicitation",
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        "text": "This document does not constitute (i) an offer to sell or a solicitation of an offer to purchase any securities in CMTG, (ii) a means by which any other investment may be offered or sold or (iii) advice or an",
        "box": [
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      {
        "text": "expression of our view as to whether an investment in CMTG is suitable for any person.",
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      {
        "text": "Portfolio Metrics; Basis of Accounting",
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      {
        "text": "The performance information set forth in this document has generally been prepared on the basis of generally accepted accounting principles in the United States (U.S. GAAP). The basis on which CMTG's",
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      {
        "text": "operating metrics are presented in this document may vary from other reports or documents that CMTG prepares from time to time for internal or external use.",
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      {
        "text": "Net Debt / Equity Ratio, Total Leverage Ratio, and Distributable Earnings (Loss)",
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      {
        "text": "Net Debt / Equity Ratio, Total Leverage Ratio, and Distributable Earnings (Loss) are non-GAAP measures used to evaluate the Company's performance excluding the effects of certain transactions, non-cash",
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        "text": "items and GAAP adjustments, as determined by our Manager. Net Debt / Equity Ratio is a non-GAAP measure, which the Company defines as the ratio of asset-specific debt and Secured Term Loan, less cash",
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      {
        "text": "and cash equivalents, to total equity. Total Leverage Ratio is a non-GAAP measure, which the Company defines as the ratio of asset-specific debt and Secured Term Loan, plus non-consolidated senior interests",
        "box": [
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        "text": "held by third parties, less cash and cash equivalents, to total equity. Distributable Earnings (Loss) is a non-GAAP measure, which the Company defines as net income (loss) in accordance with GAAP, excluding (i)",
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        "text": "non-cash stock-based compensation expense, (ii) real estate owned held-for-investment depreciation and amortization, (iii) any unrealized gains or losses from mark-to-market valuation changes (other than",
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        "text": "permanent impairments) that are included in net income (loss) for the applicable period, (iv) one-time events pursuant to changes in GAAP and (v) certain non-cash items, which in the judgment of the Company's",
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        "text": "Manager, should not be included in Distributable Earnings (Loss). Furthermore, the Company presents Distributable Earnings (Loss) prior to realized gains and losses, which such gains and losses include charge-",
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        "text": "offs of principal, accrued interest receivable, and/or exit fees, as the Company believes this more easily allows the Board, Manager, and investors to compare the Company's operating performance to our peers,",
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        "text": "to assess our ability to declare and pay dividends, and to determine our compliance with certain financial covenants. Pursuant to the Management Agreement, the Company uses Core Earnings, which is",
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        "text": "substantially the same as Distributable Earnings (Loss) excluding incentive fees, to determine the incentive fees the Company pays our Manager.",
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        "text": "The Company believes that Distributable Earnings (Loss) and Distributable Earnings (Loss) prior to realized gains and losses provide meaningful information to consider in addition to net income (loss) and cash",
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        "text": "flows from operating activities in accordance with GAAP. Distributable Earnings (Loss) and Distributable Earnings (Loss) prior to realized gains and losses do not represent net income (loss) or cash flows from",
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        "text": "operating activities in accordance with GAAP and should not be considered as an alternative to GAAP net income (loss), an indication of cash flows from operating activities, a measure of liquidity or an indication",
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        "text": "of funds available for cash needs. In addition, the Company's methodology for calculating these non-GAAP measures may differ from the methodologies employed by other companies to calculate the same or",
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        "text": "similar supplemental performance measures and, accordingly, the Company's reported Distributable Earnings (Loss) and Distributable Earnings (Loss) prior to realized gains and losses may not be comparable to",
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      {
        "text": "the Distributable Earnings (Loss) and Distributable Earnings (Loss) prior to realized gains and losses reported by other companies.",
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        "text": "In order to maintain the Company's status as a REIT, the Company is required to distribute at least 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding net",
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        "text": "capital gain, as dividends. Distributable Earnings (Loss), Distributable Earnings (Loss) prior to realized gains and losses, and other similar measures, have historically been a useful indicator over time of a",
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        "text": "mortgage REIT's ability to cover its dividends, and to mortgage REITs themselves in determining the amount of any dividends to declare. Distributable Earnings (Loss) and Distributable Earnings (loss) prior to",
        "box": [
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        "text": "realized gains and losses are key factors, among others, considered by the Company's Board in determining the dividend each quarter and as such the Company believes Distributable Earnings (Loss) and",
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        "text": "Distributable Earnings (Loss) prior to realized gains and losses are also useful to investors.",
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        "text": "While Distributable Earnings (Loss) excludes the impact of our provision for or reversal of current expected credit loss reserve, charge-offs of principal, accrued interest receivable, and/or exit fees are recognized",
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        "text": "through Distributable Earnings (Loss) when deemed non-recoverable. Non-recoverability is determined (i) upon the resolution of a loan (i.e., when the loan is repaid, fully or partially, when we acquire title in the",
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        "text": "case of foreclosure, deed-in-lieu of foreclosure, or assignment-in-lieu of foreclosure, or when the loan is sold or anticipated to be sold for an amount less than its carrying value), or (ii) with respect to any amount",
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        "text": "due under any loan, when such amount is determined to be uncollectible.",
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        "text": "In determining Distributable Earnings (Loss) per share and Distributable Earnings per share prior to realized gains and losses, the dilutive effects of unvested RSUs and warrants outstanding are considered. The",
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        "text": "weighted average diluted shares outstanding used for Distributable Earnings (Loss) and Distributable Earnings per share prior to realized gains and losses have been adjusted from weighted average diluted",
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        "text": "shares under GAAP to include weighted average unvested RSUs and warrants outstanding, if the exercise price of the warrants outstanding exceeds the average share price of our common stock during such",
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        "text": "period.",
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        "text": "CLAROS",
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        "text": "MORTGAGE",
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        "text": "TRUST",
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    "page_no": 24,
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      {
        "text": "PAGE 23",
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        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "text": "Important Notices (cont'd)",
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        "text": "Adjusted Book Value Per Share",
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        "text": "Adjusted Book Value per Share is a non-GAAP financial measure. We believe that presenting book value per share adjusted for our general current expected credit loss reserve and accumulated depreciation and ",
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        "text": "amortization on our real estate owned held-for-investment is useful for investors as it enhances the comparability to our peers who may not hold real estate investments. Further, we believe that our investors and ",
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        "text": "lenders consider book value excluding these items as an important metric related to our overall capitalization.",
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        "text": "Determinations of Loan-to-Value / Loan-to-Cost",
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        "text": "Adjusted LTV represents 'loan-to-value' or 'loan-to-cost' upon origination and updated only in connection with a partial loan paydown and/or release of collateral, material changes to expected project costs, the",
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        "text": "receipt of a new appraisal (typically in connection with financing or refinancing activity) or a change in our loan commitment. LTV determined upon origination is calculated as our total loan commitment upon",
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        "text": "origination, as if fully funded, plus any financings that are pari passu with or senior to our loan, divided by our estimate of either (1) the value of the underlying real estate, determined in accordance with our",
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        "text": "underwriting process (typically consistent with, if not less than, the value set forth in a third-party appraisal) or (2) the borrower's projected, fully funded cost basis in the asset, in each case as we deem appropriate",
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        "text": "for the relevant loan and other loans with similar characteristics. Adjusted LTV, origination LTV, underwritten values, and/or project costs should not be assumed to reflect our judgment of current market values or",
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        "text": "project costs, which may have changed materially since the date of the most recent determination of LTV. Weighted average adjusted LTV is based on loan commitment, including non-consolidated senior interests",
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        "text": "and pari passu interests, and includes risk rated 5 loans. Loans with specific CECL reserves are reflected as 100% LTV.",
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        "text": "CLAROS",
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        "text": "MORTGAGE",
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        "text": "TRUST",
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    "page_no": 25,
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    "cells": [
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        "text": "PAGE 24",
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      {
        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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        "text": "Important Notices (cont'd)",
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        "text": "Forward-Looking Statements",
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        "text": "This document and oral statements made in connection therewith contain forward-looking statements within",
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        "text": "the meaning of U.S. federal securities laws. Forward-looking statements express CMTG's views",
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        "text": "regarding future plans and expectations. They include statements that include words such as 'may,' 'could,' 'would,' 'should,' 'believe,' 'expect,' 'anticipate,' 'plan,' 'estimate,' 'target,' 'project,' 'plan,' 'intend'",
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        "text": "and similar words or expressions. Forward-looking statements in this presentation include, but are not limited to, statements regarding future operations, business strategy, cash flows, income, costs, expenses,",
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        "text": "liabilities and profits of CMTG. These statements are based on numerous assumptions and are subject to risks, uncertainties or change in circumstances that are difficult to predict or quantify. Actual future results",
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        "text": "may vary materially from those expressed or implied in these forward-looking statements, and CMTG's business, financial condition, liquidity, results of operations and prospects could be materially and adversely",
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        "text": "affected by numerous factors, including such known and unknown risks and uncertainties.",
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        "text": "As a result, forward-looking statements should be understood to be only predictions and statements of our current beliefs,",
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        "text": "and are not guarantees of performance. Statements regarding the following subjects, among others, may be forward-looking:",
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        "text": "\u2022",
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        "text": "our business and investment strategy;",
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        "text": "changes in interest rates and their impact on our borrowers and on the availability and cost of our financing;",
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        "text": "\u2022",
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        "text": "our projected operating results;",
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        "text": "defaults by borrowers in paying debt service on outstanding loans;",
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        "text": "anticipated timing, amount, and pace of resolutions of our investments;",
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        "text": "the timing of cash flows, if any, from our investments;",
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        "text": "our ability to maintain levels of liquidity that meet or exceed our liquidity needs;",
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        "text": "the state of and uncertainty surrounding the U.S. and global economy generally or in specific geographic regions;",
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        "text": "\u2022",
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        "text": "reduced demand for office, multifamily or retail space, including as a result of the increase in remote and/or hybrid work trends which allow work from remote locations other than the employer's office premises;",
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        "text": "\u2022",
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        "text": "governmental actions and initiatives and changes to government regulations and policies, including changes in monetary policy;",
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        "text": "\u2022",
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        "text": "the amount of commercial mortgage loans requiring refinancing;",
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        "text": "our ability to obtain and maintain financing arrangements on attractive terms, or at all;",
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        "text": "our ability to maintain compliance with covenants under our financing arrangements;",
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        "text": "current and prospective financing costs and advance rates for our existing and target assets;",
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        "text": "\u2022",
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        "text": "our expected leverage;",
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        "text": "general volatility of the capital markets and the markets in which we may invest and in which our borrowers;",
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        "text": "\u2022",
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        "text": "the state of the regional, national, and global banking systems;",
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        "text": "allocation of investment opportunities to us by our Manager and our Sponsor;",
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        "text": "changes in the markets in which we and our borrowers operate and the impacts thereof;",
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        "text": "changes in the market value of our investments and collateral underlying our investments;",
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        "text": "The effects of hedging instruments on our existing and target assets;",
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        "text": "rates of default, decreased recovery rates, and/or increased loss severity rates on our existing and target assets and related impairment charges, including as these relate to our real estate owned assets;",
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        "text": "the degree to which our hedging strategies may or may not protect us from interest rate volatility;",
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        "text": "changes in governmental regulations, tax laws and rates, and similar matters (including the interpretation thereof);",
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        "text": "\u2022",
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        "text": "our ability to maintain our qualification as a real estate investment trust; our ability to maintain our exclusion from registration under the Investment Company Act of 1940, as amended;",
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        "text": "the availability and attractiveness of investment opportunities we are able to originate in our target assets;",
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        "text": "\u2022",
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        "text": "the ability of our Manager to locate suitable investments for us, monitor, service and administer our investments and execute our investment strategy;",
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        "text": "the availability of qualified personnel from our Sponsor and its affiliates, including our Manager;",
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        "text": "\u2022",
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        "text": "estimates relating to our ability to pay or resume paying dividends to our stockholders in the future;",
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        "text": "\u2022",
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        "text": "our understanding of our competition;",
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        "text": "\u2022",
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        "text": "impact of increased competition on projected returns;",
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        "text": "\u2022",
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        "text": "the risk of securities class action litigation or stockholder activism;",
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        "text": "\u2022",
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        "text": "geopolitical or economic conditions or uncertainty, which may include military conflicts and activities (including the military conflicts between Russia and Ukraine, Israel and Hamas, and elsewhere throughout",
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        "text": "the Middle East, North Africa, and South America more broadly), tensions involving Russia, China, and Iran, political instability, social unrest, civil disturbances, terrorism, natural disasters and pandemics; and",
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        "text": "\u2022",
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        "text": "market trends in our industry, interest rates, real estate values, the debt markets generally, the CRE debt market or the general economy.",
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        "text": "The forward-looking statements are based on CMTG's beliefs, assumptions and expectations of CMTG's future performance, taking into account all information currently available. You should not place undue",
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        "text": "reliance on these forward-looking statements. These beliefs, assumptions, and expectations can change as a result of many possible events or factors, not all of which are known to CMTG. If a change occurs,",
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        "text": "CMTG's business, financial condition, liquidity, results of operations and prospects may vary materially from those expressed in any forward-looking statements. Any forward-looking statement speaks only as of the",
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        "text": "date on which it is made. New risks and uncertainties arise over time, and it is not possible for CMTG to predict those events or how they may affect CMTG. Except as required by law, CMTG is not obligated to, and",
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        "text": "does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.",
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      {
        "text": "CLAROS",
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        "text": "MORTGAGE",
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        "text": "TRUST",
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        "text": "PAGE 25",
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        "text": "CLAROS MORTGAGE TRUST, INC. FIRST QUARTER 2026 EARNINGS SUPPLEMENT",
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      {
        "text": "Endnotes",
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        "text": "1.",
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        "text": "Refer to page 20 for a reconciliation of net income (loss) to distributable earnings (loss) and distributable earnings (loss) prior to realized gains and losses.",
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        "text": "2.",
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        "text": "Refer to page 2 for further discussion of loan resolution activity. Amount based on unpaid principal balance prior to principal charge-offs, if any.",
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        "text": "3.",
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        "text": "Excludes our real estate owned (REO) assets, unless otherwise noted.",
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        "text": "4.",
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        "text": "Based on carrying value net of specific CECL reserves; excludes loans held-for-sale if applicable.",
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        "text": "5.",
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        "text": "Based on total loan commitments.",
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        "text": "6.",
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        "text": "Senior loans include senior mortgages and similar credit quality loans, including related contiguous subordinate loans (if any), and pari passu participations in senior mortgage loans.",
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        "text": "7.",
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        "text": "Total liquidity includes cash and approved and undrawn credit capacity based on existing collateral.",
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        "text": "Carrying value includes lease related intangible assets and liabilities, if applicable, included in other assets and other liabilities on the consolidated balance sheets, and is net of",
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        "text": "related accumulated depreciation and amortization.",
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        "text": "At March 31, 2026, we had unfunded loan commitments of $204 million and $91 million of in-place financings to fund our remaining unfunded loan commitments, excluding $15",
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        "text": "million of approved and undrawn credit capacity based on existing collateral. Of our unfunded loan commitments, conditions to funding may not be met by our borrowers and",
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        "text": "portions of our unfunded loan commitments may not become eligible to be or expected to be drawn on (relating to loans on non-accrual status, loans in maturity default, loans risk",
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        "text": "rated 5 and/or delinquent loans) resulting in net unfunded loan commitments of $5 million.",
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        "text": "10.",
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        "text": "Net Debt / Equity Ratio is a non-GAAP measure and is calculated as the ratio of asset-specific debt and Secured Term Loan, less cash and cash equivalents, to total equity. Refer to",
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        "text": "page 21 for a reconciliation of Net Debt / Equity Ratio. For further information, please refer to Item 7 (MD&A) of our Form 10-Ks and/or Item 2 (MD&A) of our Form 10-Qs.",
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        "text": "11.",
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        "text": "Total Leverage Ratio is a non-GAAP measure and is calculated as the ratio of asset-specific debt and Secured Term Loan, plus non-consolidated senior interests held by third",
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        "text": "parties, less cash and cash equivalents, to total equity. Refer to page 21 for a reconciliation of Total Leverage Ratio. For further information, please refer to Item 7 (MD&A) of our",
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        "text": "Form 10-Ks and/or Item 2 (MD&A) of our Form 10-Qs.",
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        "text": "12.",
        "box": [
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          358.2269247778313
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        "confidence": 1.0
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      {
        "text": "Excludes loans receivable held-for-sale, if any.",
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      {
        "text": "13.",
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        "from_ocr": false,
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      {
        "text": "Loan commitment represents principal outstanding plus remaining unfunded loan commitments.",
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      {
        "text": "14.",
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      {
        "text": "See Important Notices beginning on page 22 for additional information on this metric.",
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      {
        "text": "15.",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "All-in yield represents the weighted average annualized yield to initial maturity of each loan held-for-investment, inclusive of coupon and contractual fees, based on the applicable",
        "box": [
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        "confidence": 1.0
      },
      {
        "text": "floating benchmark rate/floors (if applicable), in place as of March 31, 2026. For loans placed on non-accrual, the annualized yield to initial maturity used in calculating the weighted",
        "box": [
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          410.3096217676463
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "average annualized yield to initial maturity is 0%.",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "16.",
        "box": [
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          44.16011569668567,
          434.7897218557275
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "At March 31, 2026, mixed-use consists of 3% office, 2% life science, 2% hospitality, 2% multifamily, and 1% retail.",
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      {
        "text": " ",
        "box": [
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        ],
        "from_ocr": false,
        "confidence": 1.0
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      {
        "text": "Mixed-use allocations are based upon allocable square footage",
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          760.1222929122907,
          434.7897218557275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "except where another method is deemed more appropriate under the applicable facts and circumstances.",
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      {
        "text": "17.",
        "box": [
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          459.14949397666874
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Reflects loan for which no specific reserve is recorded as amounts deemed uncollectible have been charged-off as of March 31, 2026.",
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        "confidence": 1.0
      },
      {
        "text": "18.",
        "box": [
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          473.06712598478634
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted average spread excludes SOFR floors and is based upon unpaid principal balance.",
        "box": [
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          416.9928357161004,
          473.06712598478634
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      },
      {
        "text": "19.",
        "box": [
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See page 12 and 21 for book value bridge.",
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        "confidence": 1.0
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      {
        "text": "20.",
        "box": [
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          500.79002473478636
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        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes CECL reserves on unfunded loan commitments. Such reserves are included within other liabilities on the consolidated balance sheet.",
        "box": [
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        "confidence": 1.0
      },
      {
        "text": "CLAROS",
        "box": [
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          66.0
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        "from_ocr": true,
        "confidence": 0.99993
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      {
        "text": "MORTGAGE",
        "box": [
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          773.6666666666666,
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        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "TRUST",
        "box": [
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        "from_ocr": true,
        "confidence": 0.99995
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