Two Harbors reaffirms support of amended transaction with CrossCountry

TWO (TWO) reaffirmed the unanimous support of the TWO Board of Directors for the Company’s previously announced amended transaction with CrossCountry Mortgage. In response to the revised unsolicited proposal announced by UWM Holdings Corporation (UWMC) on April 30, 2026, the Company notes that, after a thorough and careful review process conducted with the assistance of TWO’s independent financial and legal advisors, the TWO Board of Directors, in its business judgment, has unanimously rejected the Revised UWMC Proposal. The Board determined that it does not constitute, and would not reasonably be expected to result in, a “Company Superior Proposal” under the terms of TWO’s amended merger agreement with CCM. TWO’s Board is committed to fulfilling its fiduciary obligations and delivering an outcome that is in the best interests of stockholders. Consistent with this, the Board reaffirms its unanimous recommendation that TWO stockholders vote “FOR” the amended CCM transaction at the previously announced Special Meeting of Stockholders scheduled for May 19, 2026.