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          "text": "<a id='751c0b9e-44f6-4b90-b801-472ff18956f8'></a>\n\n<::A collage of three images:\n1. An aerial view of a large, light-colored building with many windows, featuring an extensive green roof garden with walking paths, surrounded by other buildings, a river, and a bridge.\n2. A street-level view of a row of modern residential buildings with balconies, large windows, and trees planted along the sidewalk. The buildings have white and dark gray facades.\n3. A tall, modern glass skyscraper rising above other city buildings, under a clear sky with a hint of sunset colors.\nThe properties above are not representative of all transactions. The information provided herein is as of June 30, 2026, unless otherwise noted.\n: collage of images::>",
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          "text": "<a id='3a07bd9c-5364-4420-8643-dc9a34aad499'></a>\n\nSecond Quarter 2026 Earnings Supplement\nClaros Mortgage Trust, Inc. (CMTG)",
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          "text": "<a id='af56f101-b3c9-48c2-8d45-1f2170405f4d'></a>\n\nJuly 29, 2026",
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          "text": "<a id='458b7e15-90cc-41cf-be24-5e6e927009fe'></a>\n\nLoan Resolution and Repayment Activity ²\n(unpaid principal balance)\n<::\nchart: This figure contains two charts side-by-side. The left chart is a donut chart, and the right chart is a bar chart.\n\n**Donut Chart - 2026 YTD**\nThe donut chart shows the breakdown of loan resolution and repayment activity for 2026 YTD, totaling $1.1 billion. The segments are:\n- Full Repayments: 43%\n- Loan Sales below 100% of UPB: 31%\n- Foreclosures: 10%\n- Settlement with financing counterparty: 7%\n- Discounted Payoff: 7%\n- Partial Repayments: 2%\n\n**Bar Chart - FY 2022 – 2026 YTD ($ in billions)**\nThe bar chart displays loan resolution and repayment activity in billions of dollars from FY 2022 to 2026 YTD. The y-axis ranges from $- to $3.0 in $0.5 increments. The x-axis represents the fiscal years.\n- 2022: $1.6\n- 2023: $1.1\n- 2024: $1.4\n- 2025: $2.6\n- 2026 YTD: $1.1\n\nSee Endnotes in the Appendix.\n: chart::>",
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          "text": "<a id='ee5aa391-165b-41ac-a694-f333f166d58c'></a>\n\nLoan Resolution Activity",
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          "text": "<a id='bd1295c6-ae1f-4d60-aa6a-3d0a5e75c322'></a>\n\n \"- During the quarter, resolved one watchlist loan with $25.4 million of UPB \u0012 through a mortgage foreclosure and received $20.9 million in partial loan repayments\n- Subsequent to quarter-end, resolved four loans totaling $409.5 million of UPB \u0012\n  - Two full repayments: $223.1 million of UPB\n  - One discounted payoff: $74.9 million of UPB \u0012, watchlist multifamily loan, recovery of 94% of UPB\n  - One loan sale: $111.5 million of UPB \u0012, watchlist office loan classified as held-for-sale at June 30, 2026, recovery of 63% of UPB",
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          "text": "<a id='13c1df44-e91f-4a47-a04c-e5f6d88e3c77'></a>\n\n<::Collateral Diversification\n: chart\nChart Title: Collateral Diversification ³, ⁴, ¹²\nY-axis: Percentage (0% to 100%)\nX-axis: Dates\n\nLegend:\n- Multifamily\n- Hospitality\n- Office\n- Mixed-use ¹⁶\n- Retail\n- Land\n- Other A\n\nData Series:\n\nDate: 6/30/26\n- Multifamily: 44%\n- Hospitality: 21%\n- Office: 14%\n- Mixed-use: 11%\n- Retail: 5%\n- Land: 4%\n- Other A: 1%\n\nDate: 3/31/26\n- Multifamily: 44%\n- Hospitality: 19%\n- Office: 17%\n- Mixed-use: 10%\n- Retail: 5%\n- Land: 4%\n- Other A: 1%::>",
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          "text": "<a id='c21137a0-ac8c-4022-acc4-48e2dda01d9f'></a>\n\n<::Geographical Diversification 3, 4, 12\n\nStacked bar chart showing geographical diversification for two dates.\n\nY-axis: 0% to 100%\n\nLegend:\nCA (dark blue/grey)\nNY (light blue)\nVA / DC (dark grey)\nIL (olive green)\nGA (teal)\nTX (light grey)\nUT^B (light green)\nOther (dark blue)\n\nLeft Bar (Date: 6/30/26):\nCA: 19%\nNY: 16%\nVA / DC: 9%\nIL: 8%\nGA: 8%\nTX: 6%\nUT^B: 2% (calculated)\nOther: 32%\n\nRight Bar (Date: 3/31/26):\nCA: 22%\nNY: 15%\nVA / DC: 8%\nIL: 8%\nGA: 7%\nTX: 8%\nUT^B: 2% (calculated)\nOther: 30%\n: chart::>",
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              "Total Loan Commitments 13",
              "$3.5Bn",
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          "text": "<a id='ba9f78b2-72c5-4431-a680-e6b270e30f93'></a>\n\nSee Endnotes in the Appendix.\nA. At June 30, 2026 and March 31, 2026, approximates 1%.\nB. At June 30, 2026 and March 31, 2026, approximates 2%.",
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          "text": "<a id='df4821ff-c228-4e99-bf93-ddf95042bbd2'></a>\n\n<::Q2 2026 - Loan Portfolio Activity 2, 12\n($ amounts in millions)\n\nWaterfall chart showing changes in loan portfolio activity.\n\nY-axis represents dollar amounts from $2,800 to $3,800.\n\nData points:\n- UPB 3/31/26:\n  - Total Commitments: $3,710\n  - Unfunded Commitments: $204\n  - Value: $3,506\n- Fundings 12:\n  - Increase: $8\n- Repayments 12:\n  - Decrease: $21\n- Transfer to Loan Held-For-Sale:\n  - Decrease: $112\n- Transfer to REO:\n  - Decrease: $25\n- UPB 6/30/26:\n  - Total Commitments: $3,532\n  - Unfunded Commitments: $175\n  - Value: $3,357\n- Pro-Forma UPB A, 12:\n  - Total Commitments: $3,234\n  - Unfunded Commitments: $175\n  - Value: $3,059\n\nNet Change in UPB 2: ($149)\n: chart::>",
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          "text": "<a id='62a1e4cd-ffa9-48b8-b91b-07c0b4629653'></a>\n\n- During the quarter:\n  - Resolved one watchlist loan with $25.4 million of UPB ² through a mortgage foreclosure\n  - Reclassified one watchlist loan with $111.5 million of UPB ² to held-for-sale; loan sold July 2026\n  - Funded $8.4 million on existing loan commitments and received $20.9 million of partial loan repayments ¹²",
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          "text": "<a id='2326e8cb-54d7-44be-9fb3-c0dd3d1b7c74'></a>\n\nSee Endnotes in the Appendix.\nTotals may not foot due to rounding.\nA. Pro-forma adjustments to June 30, 2026 UPB reflect resolutions of three loans receivable held-for-investment as of June 30, 2026 totaling $298 million of UPB prior to principal charge-offs, if any.",
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          "text": "<a id='a72a3489-1a53-4e64-8c5c-64f99bbb8eef'></a>\n\n- At quarter-end, total liquidity of $103 million; at July 24, 2026, total liquidity of $168 million 7\n\nTotal Available Liquidity 7\n($ amounts in millions)\n<::Total Available Liquidity 7\n($ amounts in millions)\n\nY-axis: $\n  $200\n  $180\n  $160\n  $140\n  $120\n  $100\n  $80\n  $60\n  $40\n  $20\n  $-\n\nX-axis: Dates\n  12/31/25: Total $185 (Cash and Cash Equivalents: $173, Approved and Undrawn Credit Capacity: $12)\n  6/30/26: Total $103 (Cash and Cash Equivalents: $90, Approved and Undrawn Credit Capacity: $13)\n  7/24/26: Total $168 (Cash and Cash Equivalents: $155, Approved and Undrawn Credit Capacity: $13)\n\nLegend:\n  Cash and Cash Equivalents\n  Approved and Undrawn Credit Capacity 7\n: bar chart::>",
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          "text": "<a id='408a59ed-53d6-43b1-8208-f123db9c2b6c'></a>\n\n<::Repurchase agreements and term participation facility\nDebt related to real estate owned hotel portfolio\nSecured term loan\nPortion of repurchase agreements secured by multifamily REO assets\n: legend::>",
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          "text": "<a id='eb66b6ab-19b2-4df5-a24d-77f538051182'></a>\n\n* During the quarter, net financings outstanding decreased by $66 million, including $20 million of deleveraging payments\n* Subsequent to quarter-end, net financings outstanding decreased by $299 million, including $93 million of deleveraging payments",
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          "text": "<a id='b260f588-07b8-4e47-a2b3-9cf41e75f2af'></a>\n\n<::waterfall chart: This chart illustrates the change in Adjusted Book Value (BV) per Share from 12/31/25 to 6/30/26. The y-axis represents dollar values from $7.00 to $12.00.\n\nStarting point:\nAdjusted BV per Share 14: $11.33\nThis is composed of:\n- Book Value 12/31/25: $10.69\n- General CECL: $0.54\n- Depreciation/Amortization: $0.10\n\nChanges:\n- Distributable Loss Prior to Realized Gains and Losses 1, 14: +$0.12\n- Provision for CECL and Other Non-Cash Items: -$2.08\n- RSUs, Warrants, and Other: +$0.09\n\nEnding point:\nAdjusted BV per Share 14: $9.06\nThis is composed of:\n- Book Value 6/30/26: $8.58\n- General CECL: $0.35\n- Depreciation/Amortization: $0.13\n:chart::>",
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          "text": "<a id='dacd9a9c-fa5b-4be9-bf59-274a60ad03a5'></a>\n\nBook Value per Share Roll-Forward",
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          "text": "<a id='be8a103a-fe6f-413b-99cd-dc4f8378eaa1'></a>\n\nSee Endnotes in the Appendix.\nTotals may not foot due to rounding.",
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          "text": "<a id='a8999fd5-0465-4c45-a0bd-59bb58e90f74'></a>\n\nCLAROS MORTGAGE TRUST, INC. SECOND QUARTER 2026 EARNINGS SUPPLEMENT",
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          "text": "<a id='96d0dff6-de74-49c7-b4b5-b1fee2655ebb'></a>\n\n<::Three images of different properties.\nImage 1: An aerial view of a large, rectangular building with a green rooftop garden, a river, and a bridge in the background.\nImage 2: A row of modern, multi-story residential buildings with balconies and ground-floor retail spaces, featuring trees in front and a clear sky above.\nImage 3: A tall, modern skyscraper with a glass facade, surrounded by other city buildings and distant mountains under a blue sky.\nThe properties above are not representative of all transactions.\n: collage of photos::>",
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          "text": "<a id='5d1ef62e-db4c-4372-9c27-665636476268'></a>\n\nAppendix",
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