Granite Point Mortgage Trust Inc. Announces Share Repurchase Authorization

NEW YORK--(BUSINESS WIRE)-- Granite Point Mortgage Trust Inc. (NYSE: GPMT), a commercial real estate investment trust (REIT) focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments, today announced that its Board of Directors has authorized the company to repurchase up to 2,000,000 shares of its common stock. The shares are expected to be repurchased from time to time through privately negotiated transactions or open market transactions, including pursuant to a trading plan in accordance with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, or by any combination of such methods. The manner, price, number and timing of share repurchases will be subject a variety of factors, including market conditions and applicable U.S. Securities and Exchange Commission rules.

As November 5, 2018, the Granite Point had 43,456,234 shares of common stock issued and outstanding.

About Granite Point Mortgage Trust Inc.
Granite Point Mortgage Trust Inc., a Maryland corporation, is a real estate investment trust that is focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY, and is externally managed by Pine River Capital Management L.P. Additional information is available at www.gpmortgagetrust.com.

Additional Information
Stockholders of Granite Point and other interested persons may find additional information regarding the company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 590 Madison Avenue, 38^th floor, New York, NY 10022, telephone (212) 364-3200.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181121005544/en/

Investors: Marcin Urbaszek, Chief Financial Officer,
Granite Point Mortgage Trust Inc., (212) 364-3200,
investors@gpmortgagetrust.com

Source: Granite Point Mortgage Trust Inc.

Released November 21, 2018