Supplemental Financial Data Fourth Quarter 2020

DISCLAIMER 2 This presentation contains statements that constitute "forward-looking statements," as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; Ready Capital Corporation (the "Company") can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include those set forth in the Risk Factors section of the most recent Annual Report on Form 10-K filed with the SEC and other reports filed by the Company with the SEC, copies of which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. This presentation includes certain non-GAAP financial measures, including Distributable earnings. These non-GAAP financial measures should be considered only as supplemental to, and not as superior to, financial measures in accordance with GAAP. Please refer to Appendix A for the most recent GAAP information. This presentation also contains market statistics and industry data which are subject to uncertainty and are not necessarily reflective of market conditions. These have been derived from third party sources and have not been independently verified by the Company or its affiliates. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. All data is as of December 31, 2020 unless otherwise noted.

3 COMPANY UPDATE . Successful re-launch of small balance commercial lending operation with $625.7 million in loans originated year-to-date . Elevated activity in residential mortgage banking operations with $758.0 million in year-to-date originations . The increase in SBA 7a guarantee to 90% from 75% is expected to drive increased volume and profitability 2021 BUSINESS ACTIVITIES . Current cash and available liquidity of $172 million . Executed a 5-year $201 million senior unsecured bond offering pricing at 5 ¾ LIQUIDITY . Stable portfolio of $4.2 billion in loans with a weighted average coupon of 5.4% and duration of 7 years as well as a $11.7 billion servicing asset . 60+ day delinquencies remain low at 2.7% in the commercial real estate portfolio and 1.8% in the SBA 7a portfolio BOOK VALUE PRESERVATION OTHER ITEMS . Active participant in second round of Paycheck Protection Program with over $1 billion funded year-to-date . Continued to increase scale with the announcement of the $350 million ANH merger

FOURTH QUARTER 2020 RESULTS 4 . Net income of $27.6 million(1), or $0.49 per common share . Distributable earnings of $28.8 million(1), or $0.51 per common share . Declared dividend of $0.35 per share EARNINGS / DIVIDENDS . Return on Equity(2) of 13.3% . Distributable Return on Equity(3) of 13.9% . Dividend Yield(4) of 11.2% RETURNS . CRE originations and acquisitions of $550.3 million . SBA loan originations of $65.0 million . Residential mortgage loan originations of $1.2 billion LOAN ORIGINATIONS(5) / ACQUISITIONS . Adjusted net book value(6) of $14.98 per common share . Average recourse leverage ratio of 2.1x consisting of 1.0x of warehouse credit facilities and borrowings under repurchase agreements, 0.6x of corporate debt and 0.5x of agency secured borrowings BALANCE SHEET 1) Inclusive of non-controlling interest 2) Return on Equity is an annualized percentage equal to quarterly net income over the average monthly total stockholders’ equity for the period 3) Distributable Return on Equity is an annualized percentage equal to Distributable earnings over the average monthly total stockholders’ equity for the period. Refer to the “Distributable Earnings Reconciliation” slide for a reconciliation of GAAP Net Income to Distributable Earnings 4) Q4 Dividend yield for the period based on the 12/31/2020 closing share price of $12.45 5) Represents fully committed amounts 6) Excludes the equity component of our 2017 convertible note issuance

2020 RESULTS 5 . Net income of $46.1 million(1), or $0.81 per common share . Distributable earnings of $101.4 million(1), or $1.82 per common share . Declared dividend of $1.30 per share; 13.1% dividend yield over average RC share price EARNINGS / DIVIDENDS . Return on Equity(2) of 5.6% . Distributable Return on Equity(3) of 12.3% . Dividend Yield(4) of 10.4% RETURNS . CRE originations and acquisitions of $1.4 billion . SBA loan originations of $214.3 million . Residential mortgage loan originations of $4.2 billion LOAN ORIGINATIONS(5) / ACQUISITIONS . Successfully met 100% of margin calls totaling $96 million on day of call . Renewed 6 warehouse facilities at term extensions into 2021 and 2022 . Facilitated the origination of $2.7 billion of Paycheck Protection Program loans COVID RESPONSE 1) Inclusive of non-controlling interest 2) Return on Equity is an annualized percentage equal to quarterly net income over the average monthly total stockholders’ equity for the period 3) Distributable Return on Equity is an annualized percentage equal to Distributable earnings over the average monthly total stockholders’ equity for the period. Refer to the “Distributable Earnings Reconciliation” slide for a reconciliation of GAAP Net Income to Distributable Earnings 4) Q4 Dividend yield for the period based on the 12/31/2020 closing share price of $12.45 5) Represents fully committed amounts

RETURN ON EQUITY 6 1) Levered yield includes interest income, accretion of discount, MSR creation, income from unconsolidated joint ventures, realized gains (losses) on loans held for sale, unrealized gains (losses) on loans held for sale and servicing income net of interest expense and amortization of deferred financing costs on an annualized basis. 2) GAAP ROE is based on GAAP Net Income, while Distributable ROE is based on Distributable Earnings, which adjusts GAAP Net Income for certain items detailed on the “Distributable Earnings Reconciliation” slide. 3) ROE based on net income before tax of the Residential Mortgage Banking business line divided by the business line’s average monthly equity. Segment Loan Acquisitions 15.6 % 15.6 % 27.0 % SBC Originations 14.5 % 14.5 % 60.3 % SBA Originations, Acquisitions, & Servicing 63.0 % 63.0 % 6.8 % Residential Mortgage Banking (3) 130.9 % 159.2 % 5.9 % 0.6 (1.0) (0.7) 0.9 (0.6) - 25.5 % 23.0 % 19.0 % 27.5 % 25.4 % 23.6 % 2.2 3.5 (0.1) 2.2 3.5 (0.1) 0.1 2.1 (4.2) (1.6) (1.5) (1.8) (1.2) 1.3 2.8 (1.2) 1.3 2.8 (0.2) 0.1 (0.7) - - - (12.1) (10.5) (11.3) (11.5) (10.0) (10.9) (2.0) (1.9) (0.5) (2.0) (1.9) (0.5) 1.0 (0.3) 0.6 0.5 (1.1) (0.8) 13.3 % 17.3 % 5.6 % 13.9 % 15.7 % 12.3 % Return on equity Gross return on equity Realized & unrealized gains, net Non-recurring gains, losses and expenses Investment advisory fees Benefit (Provision) for income taxes Loan loss recovery (provision) PPP revenue, net of direct expenses Operating expenses FY 2020 24.9 % 23.6 % % Corporate leverage, net of non-earning assets 19.7 % 26.0 24.0 % 26.6 % Levered Yield (1) Distributable Levered Yield (1) Equity Allocation Q4'20 Q3'20 FY 2020 Q4'20 Q3'20

SBC INVESTMENT BY PRODUCT TYPE(1) 7 1) Origination volumes are based on fully committed amounts $70.2 $45.5 $20.8 $82.9 $65.0 $116.0 $60.7 $0.0 $0.0 $17.0 $104.7 $149.4 $157.9 $105.6 $132.1 $305.0 $259.6 $- $16.9 $243.2 $153.7 $51.5 $0.0 $15.8 $140.2 $- $50 $100 $150 $200 $250 $300 $350 $400 $450 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Investment (UPB in $) SBA Conventional Freddie Mac Transitional Acquired

SBC ORIGINATIONS - SEGMENT SNAPSHOT 8 1) $ in millions, as of quarter end. 2) Represents fixed rate loans that have been securitized. 3) Represents fully committed amounts. 4) Calculated on unpaid principal balance 5) Includes interest income, accretion of discount, and servicing income net of interest expense and amortization of deferred financing costs. 6) Includes realized and unrealized gains (losses) on loans held for sale and MSR creation. • Freddie Mac loan originations of $132.1 million(3) driven by continued low rates averaging 3.4% • Current money up pipeline of $208.4 million • Successful relaunch of CRE originations, with $243.2 million closed in the quarter • Current money up pipeline of $303.9 million • CRE originations of $600.1 million as of February 2021 10.1% 10.5% 12.8% 11.5% 12.0% 1.9% 2.0% 3.9% 2.5% 2.5% 0.0% 5.0% 10.0% 15.0% 20.0% Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Gross Levered Yield (ex. Gains) Gains on Loans, held for sale GROSS LEVERED YIELD CURRENT QUARTER HIGHLIGHTS (5) (6) Portfolio Metrics (Balance Sheet) Number of loans 537 593 568 552 561 Unpaid Principal Balance (1) $ 2,298 $ 2,581 $ 2,479 $ 2,338 $ 2,463 Carrying Value (1) $ 2,300 $ 2,580 $ 2,478 $ 2,308 $ 2,460 Weighted Average LTV 61% 64% 64% 62% 64% Weighted Average Coupon 6.2% 5.4% 5.5% 5.6% 5.4% Weighted Average Maturity 5 years 5 years 4 years 4 years 4 years Weighted Average Principal Balance (1) $ 4.3 $ 4.4 $ 4.4 $ 4.2 $ 4.4 Percentage of loans fixed / floating 53% / 47% 58% / 42% 48% / 52% 48% / 52% 45% / 55% Percentage of fixed, match funded (2) 84.9% 80.9% 80.9% 83.0% 81.2% Percentage of loans 60+ days delinquent (4) 1.1% 1.3% 2.9% 3.4% 3.0% Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

SBA ORIGINATIONS, ACQUISITIONS, & SERVICING - SEGMENT SNAPSHOT 9 1) $ in millions, as of quarter end. 2) Calculated on unpaid principal balance and excludes assets offset by guaranteed loan financing liabilities 3) Includes interest income, accretion of discount, and servicing income net of interest expense and amortization of deferred financing costs. 4) Includes realized and unrealized gains (losses) on loans held for sale and MSR creation. • SBA 7(a) loans originations of $65.0 million • SBA net sales premiums peaking at 15.0% and averaging 12.0%, net • Total SBA originations of $25.6 million as of February 2021 • current money up pipeline of $103.4 million 27.6% 25.1% 26.9% 21.4% 28.4% 23.0% 18.6% 12.8% 37.6% 34.6% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Gross Levered Yield (ex. Gains) Gains on Loans, held for sale CURRENT QUARTER HIGHLIGHTS GROSS LEVERED YIELD (3) (4) Portfolio Metrics (Balance Sheet) Number of loans 1,880 1,813 1,804 1,836 1,771 Unpaid Principal Balance (1) $ 804 $ 701 $ 678 $ 701 $ 659 Carrying Value (1) $ 770 $ 664 $ 641 $ 668 $ 624 Weighted Average LTV 83% 84% 83% 85% 82% Weighted Average Coupon 6.9% 6.7% 5.2% 5.5% 5.5% Weighted Average Maturity 15 years 17 years 17 years 16 years 16 years Weighted Average Principal Balance (1) $ 0.4 $ 0.4 $ 0.4 $ 0.4 $ 0.4 Percentage of loans fixed / floating 3.3% / 96.7% 0.3% / 99.7% 0.3% / 99.7% 0.7% / 99.3% 0.7% / 99.3% Percentage of loans 60+ days delinquent (2) 4.7% 5.7% 5.4% 4.2% 2.7% Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

LOAN ACQUISITIONS - SEGMENT SNAPSHOT 10 1) Excludes joint venture investments. 2) $ in millions, as of quarter end. 3) Represents fixed rate loans that have been securitized. 4) Calculated on unpaid principal balance 5) Includes interest income, accretion of discount, and servicing income net of interest expense and amortization of deferred financing costs. 6) Includes realized and unrealized gains (losses) on loans held for sale and MSR creation. • Continued acquisition flow from CMBS collapse arrangements • Increased opportunities emerging post year end with $187.2 million pipeline 12.1% 7.3% 13.6% 10.3% 10.4% 0.5% 0.0% 1.0% 3.4% 5.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Income on joint venture investments and Gains on loans, held for sale Gross Levered Yield (ex. Income on joint venture investments and Gains on loans, held for sale) (5) CURRENT QUARTER HIGHLIGHTS GROSS LEVERED YIELD Portfolio Metrics(1) (Balance Sheet) Number of loans 2,231 2,212 2,126 2,065 2,082 Unpaid Principal Balance (2) $ 1,048 $ 1,073 $ 1,010 $ 1,003 $ 1,054 Carrying Value (2) $ 1,039 $ 1,066 $ 1,002 $ 985 $ 1,047 Weighted Average LTV 43% 40% 38% 37% 37% Weighted Average Coupon 6.1% 6.1% 6.0% 6.0% 5.9% Weighted Average Maturity 9 years 9 years 9 years 8 years 8 years Weighted Average Principal Balance (2) $ 0.5 $ 0.5 $ 0.5 $ 0.5 $ 0.5 Percentage of loans fixed / floating 45% / 55% 49% / 51% 49% / 51% 51% / 49% 50% / 50% Percentage of fixed, match funded (3) 52.3% 43.3% 74.5% 74.7% 55.2% Percentage of loans 60+ days delinquent (4) 2.3% 4.6% 6.6% 6.1% 6.3% Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 (6)

RESIDENTIAL MORTGAGE BANKING – SEGMENT SNAPSHOT 11 1) $ in millions. Represents activity during the quarter. • Elevated originations of $1.2 billion • Recapture rates of 35% • Average margin of 275bps for the quarter $8.2 $8.3 $8.7 $9.1 $9.5 $7.5 $8.0 $8.5 $9.0 $9.5 $10.0 MSR PORTFOLIO (UPB IN $ BILLIONS) CURRENT QUARTER HIGHLIGHTS Fair Q4' 19 Q1' 20 Q2' 20 Q3' 20 Q4' 20 Value ($ mm) $ 91.2 $ 78.6 $ 73.6 $ 74.4 $ 76.8 Portfolio Metrics (quarterly activity) Unpaid principal balance (1) $ 586.3 $ 691.3 $ 1,192.9 $ 1,184.9 $ 1,179.4 % of Originations - Purchased 54.7% 51.2% 37.4% 44.3% 41.3% % of Originations - Refinanced 45.3% 48.8% 62.6% 55.7% 58.7% Channel - % Correspondent 37.9% 34.4% 32.6% 38.0% 37.0% Channel - % Retail 46.8% 50.3% 49.9% 45.9% 45.3% Channel - % Wholesale 15.3% 15.3% 17.5% 16.1% 17.7% Unpaid principal balance (1) $ 601.6 $ 643.9 $ 1,150.6 $ 1,172.9 $ 1,203.1 % of UPB - Fannie/ Freddie securitizations 66.6% 72.4% 78.8% 77.8% 79.4% % of UPB - Ginnie Mae securitizations 26.8% 17.3% 20.2% 22.2% 20.3% % of UPB - Other investors 6.6% 10.3% 1.0% 0.0% 0.3% Q3 2020 Q4 2020 Originations Sales Q4 2019 Q1 2020 Q2 2020

DIVERSIFIED, COMPLEMENTARY, AND SCALABLE PLATFORMS (1) Assets include loans, MBS, servicing assets, JV investments, real estate owned, and purchased future receivables. (2) Based on QTD Distributable Earnings. Distributable earnings includes interest income, accretion of discount, MSR creation, income from unconsolidated joint ventures, realized gains (losses) on loans held for sale, unrealized gains (losses) on loans held for sale and servicing income net of interest expense and amortization of deferred financing costs on an annualized basis. (3) 12 PORTFOLIO BREAKDOWN(1) REVENUE BREAKDOWN(2) Acquisitions 24% SBC Originations - Fixed rate 24% SBC Originations - Bridge 28% SBC Originations - Freddie Mac 2% SBA Originations, Acquisitions, & Servicing 15% Residential Mortgage Banking 7% Acquisitions, $10,368 SBC Originations - Fixed rate, $4,048 SBC Originations - Bridge, $12,338 SBC Originations - Freddie Mac, $5,215 SBA Originations, Acquisitions, & Servicing, $12,805 Residential Mortgage Banking, $32,258 $- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000

LOAN PORTFOLIO COMPOSITION AS OF DECEMBER 31, 2020(1)(2) Geographic Location Lien Position (1) As a percent of unpaid principal balance (2) Excludes loans held-for-sale, at fair value (3) Collateral Type SBA Collateral Type 13 California 18% Texas 14% Florida 8% New York 10% Illinois 5% Other 45% First Mortgage 99.3% Subordinated Mortgage 0.7% Multi-family 24% Retail 17% SBA 18% Office 13% Mixed Use 13% Other 15% Lodging 17% Offices of Physicians 12% Child Day Care Services 7% Eating Places 5% Gasoline Service Stations 4% Other 55%

14 CURRENT EXPECTED CREDIT LOSSES

LOAN PORTFOLIO – RISK RATINGS AS OF DECEMBER 31, 2020(1)(2)(3) CREDIT QUALITY INDICATORS (1) Commercial real estate portfolio only (2) As a percent of unpaid principal balance (3) Excludes loans held-for-sale, at fair value 15 Bucket 1 17% Bucket 2 58% Bucket 3 12% Bucket 4 9% Bucket 5 4% CRITERIA • Bucket 1 – Very Low Risk of Loss: New origination or current with strong credit metrics (LTV/DSCR/DY). No expected losses. • Bucket 2 – Low Risk of Loss: Current with maturity > 6 months. Lower credit metrics with possibility of inclusion on CREFC watchlist. No expected losses. • Bucket 3 – Medium Risk of Loss: Current with near term maturities or in forbearance. Loss unlikely with no specific reserves booked. • Bucket 4 – Higher Risk: Loan delinquent or in maturity default. Potential issues with sponsor or business plans. Minimal losses possible and adequately reserved in current period. • Bucket 5 – Highest risk: Loan in default or special servicing. Specific losses identified and adequately reserved for in current period.

CAPITAL STRUCTURE ► Current cash and available liquidity of $172 million ► Closed $201 million in senior unsecured notes in Q1 with 5-year maturity and 5 ¾ coupon 16 Total Debt + Equity LIQUIDITY UPDATE HISTORICAL CAPITAL STRUCTURE Total Debt + Equity ($M) Funding Mix $4,290 $4,608 $4,648 $4,502 $4,553 Convertible Notes $ 115.0 7.0% 7.0% Senior Secured Notes $ 180.0 7.5% 7.0% Baby Bonds $ 154.3 6.3% 6.2% Total $ 449.3 7.0% 6.7% As of December 31, 2020 Principal Balance Coupon YTM Corporate Financing ($ in millions)

FINANCING AND LEVERAGE 17 1.9x 2.8x 2.1x 2.0x 2.2x 4.1x 4.9x 4.7x 4.5x 4.5x - 1.0 2.0 3.0 4.0 5.0 6.0 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Historical Leverage Recourse Total HISTORICAL LEVERAGE • $372 million of secured debt financing agency production $ in millions Total debt-to-equity ratio Secured borrowings (warehouse credit facilities and borrowings under repo transactions) $ 1,371 Securitized debt obligations 1,906 Senior secured notes and corporate bonds 331 Convertible notes 112 Total debt $ 3,719 Total stockholders' equity $ 834 Total debt-to-equity ratio 4.5 Total recourse debt-to-equity ratio Total debt $ 3,719 Less: Securitized debt obligations (1,906) Total recourse debt $ 1,813 Total stockholders' equity $ 834 Total recourse debt-to-equity ratio 2.2 December 2020

CREDIT AND REPURCHASE FACILITIES 18 1) Commitment size is €200.0 million and has been converted for purposes of this disclosure. $ in thousands Lender Asset Class Maturity Pricing JPMorgan Acquired loans, SBA loans June 2021 1M L + 2.25 to 2.875% $ 200,000 $ 36,604 $ 163,396 Keybank Freddie Mac loans February 2021 1M L + 1.30% 100,000 50,408 49,592 East West Bank SBA loans October 2022 Prime - 0.821 to + 0.29% 50,000 40,542 9,458 Credit Suisse(1) Acquired loans (non USD) December 2021 Euribor + 2.50% + 3.00% 244,280 36,840 207,440 GMFS facilities Residential loans Mar-2021 - Nov-2021 Various 395,000 245,269 149,731 GMFS - MSR Residential MSRs September 2023 1M L + 2.50% 50,000 34,400 15,600 Other - various Various Jan-2021 - Aug-2050 Various 292,472 98,887 193,585 $ 1,331,752 $ 542,950 $ 788,802 Citibank Fixed rate, Transitional, Acquired loans October 2021 2.5%, 3%, 3.25% $ 500,000 $ 210,735 $ 289,265 Deutsche Bank Fixed rate, Transitional loans November 2021 3M L + 2.00 to 2.40% 350,000 190,567 159,433 JPMorgan Transitional loans November 2022 1M L + 2.25 to 4.00% 400,000 247,616 152,384 Various MBS Jan-2021 - Mar-2021 Various 178,651 178,651 - $ 1,428,651 $ 827,569 $ 601,082 Total Secured Borrowings $ 2,760,403 $ 1,370,519 $ 1,389,884 Available Capacity Facility Size Borrowings under repurchase agreements Total borrowings under repurchase agreements Total borrowings under credit facilities Borrowings under credit facilities Carrying Value

FINANCIAL SNAPSHOT ($ in thousands, except per share data) 19 (5) Excludes the equity component of our 2017 convertible note issuance 1) Average carrying value includes average quarterly carrying value of loan and servicing asset balances 2) Gross yields include interest income, accretion of discount, MSR creation, income from our unconsolidated joint venture, realized gains (losses) on loans held for sale, unrealized gains (losses) on loans held for sale and servicing income net of interest expense and amortization of deferred financing costs on an annualized basis. 3) The Company finances the assets included in the Investment Type through securitizations, repurchase agreements, warehouse facilities and bank credit facilities. Interest expense is calculated based on interest expense and deferred financing amortization for the quarter ended 12/31/2020 on an annualized basis. 4) Excludes loans, held for sale, at fair value 5) Excludes the equity component of our 2017 convertible note issuance. % Fixed vs Floating Rate 43% / 57% % Originated vs Acquired 71% / 29% Weighted Average LTV - SBC 64% Weighted Average LTV - SBA 82% Weighted Average LTV - Acquired 37% Loan Portfolio Metrics (4) SBA servicing rights - UPB $ 643,135 SBA servicing rights- carrying value $ 18,764 Freddie Mac servicing rights - UPB $ 1,501,998 Freddie Mac servicing rights - carrying value $ 19,059 Residential servicing rights - UPB $ 9,528,886 Residential servicing rights - carrying value $ 76,840 Servicing Portfolio Metrics Average Carrying Value(1) Debt Cost (3) Levered Yield Loan Acquisitions 1,041,590 $ 6.8% 775,536 $ 3.8% 15.6% SBC Originations 2,471,071 $ 6.4% 1,876,240 $ 3.8% 14.5% SBA Originations, Acquisitions, & Servicing 332,125 $ 14.9% 264,688 $ 2.6% 63.0% Total 3,844,786 $ 7.2% 2,916,464 $ 3.7% 24.9% Investment Type Gross Yield(2) Average Debt Balance Common Stockholders' equity $ 815,396 Common Stockholders' equity (adjusted)(5) $ 814,337 Total Common Shares outstanding 54,368,999 Net Book Value per Common Share $ 15.00 Adjusted Net Book Value per Common Share $ 14.98 Book Equity Value Metrics Net income (loss) | Distributable earnings $27,559 | $28,804 Earnings per share - Basic and diluted $ 0.49 Distributable Earnings per Common Share $ 0.51 Return on Equity per Common Share 13.3% Distributable Return on Equity per Common Share 13.9% Dividend Yield 11.2% Q4 2020 Earnings Data Metrics

20 TRANSACTION HIGHLIGHTS FOR READY CAPITAL SHAREHOLDERS . $1 billion+ combined equity base allows for greater market presence and further optimization of funding sources . Access to incremental capital will enhance Ready Capital’s diversified investment strategy . Augment market positioning, enhance access to funding alternatives and capitalize on the breadth of Waterfall’s capabilities . Potential for improved valuation resulting from increased scale and related expense synergies, shareholder liquidity and access to market opportunities ENHANCED SCALE & MARKET PRESENCE . Ability to recycle capital into accretive investment opportunities with attractive risk- adjusted returns . More efficient capital utilization as new investments are funded PORTFOLIO REDEPLOYMENT . Shareholders will benefit from the significant cost and operating efficiencies resulting from increased scale of combined platforms . Further augments Ready Capital’s strong liquidity position . Management fee waiver of $4 million by Waterfall further benefits combined shareholders IMPROVED COST STRUCTURE & FINANCIAL POSITION Enhanced Shareholder Liquidity . Expected pro forma entity market capitalization of over $1 billion at current trading levels . Diversifies investor base and expected to lead to increased trading volume

APPENDIX 21

BALANCE SHEET BY QUARTER 22 (In Thousands) Assets Cash and cash equivalents $ 67,928 $ 122,265 $ 257,017 $ 149,847 $ 138,975 Restricted cash 51,728 93,164 91,539 46,204 47,697 Loans, net 1,727,984 1,969,052 1,432,807 1,393,139 1,625,555 Loans, held for sale, at fair value 188,077 306,328 297,669 348,719 340,288 Mortgage backed securities, at fair value 92,466 78,540 75,411 90,427 88,011 Loans eligible for repurchase from Ginnie Mae 77,953 77,605 186,197 237,542 250,132 Investment in unconsolidated joint ventures 58,850 53,379 53,939 69,204 79,509 Purchased future receivables, net 43,265 49,150 27,190 16,659 17,308 Derivative instruments 2,814 17,756 19,037 20,849 16,363 Servicing rights 121,969 110,111 107,761 110,045 114,663 Real estate, held for sale 58,573 48,292 47,009 45,063 45,348 Other assets 106,925 114,891 103,701 98,614 89,503 Assets of consolidated VIEs 2,378,486 2,229,517 2,761,655 2,691,198 2,518,743 Total Assets $ 4,977,018 $ 5,270,050 $ 5,460,932 $ 5,317,510 $ 5,372,095 Liabilities Secured borrowings 1,189,392 1,698,937 1,253,895 1,176,621 1,370,519 Securitized debt obligations of consolidated VIEs, net 1,815,154 1,692,074 2,140,009 2,059,114 1,905,749 Convertible notes, net 111,040 111,310 111,581 111,855 112,129 Senior secured notes and Corporate debt, net 329,275 329,461 329,868 330,230 330,648 Guaranteed loan financing 485,461 457,032 436,532 421,183 401,705 Liabilities for loans eligible for repurchase from Ginnie Mae 77,953 77,605 186,197 237,542 250,132 Derivative instruments 5,250 16,585 9,106 7,774 11,604 Dividends payable 21,302 21,747 14,524 16,934 19,746 Accounts payable and other accrued liabilities 97,407 89,740 166,174 132,087 135,655 Total Liabilities $ 4,132,234 $ 4,494,491 $ 4,647,886 $ 4,493,340 $ 4,537,887 Stockholders’ Equity Common stock 5 5 5 5 5 Additional paid-in capital 822,837 837,064 854,222 846,960 849,541 Retained earnings 8,746 (69,605) (49,755) (31,779) (24,203) Accumulated other comprehensive loss (6,176) (9,536) (9,876) (9,916) (9,947) Total Ready Capital Corporation equity 825,412 757,928 794,596 805,270 815,396 Non-controlling interests 19,372 17,631 18,450 18,900 18,812 Total Stockholders’ Equity $ 844,784 $ 775,559 $ 813,046 $ 824,170 $ 834,208 Total Liabilities and Stockholders’ Equity $ 4,977,018 $ 5,270,050 $ 5,460,932 $ 5,317,510 $ 5,372,095 Adjusted Book Value per Share $ 16.12 $ 14.52 $ 14.46 $ 14.84 $ 14.98 12/31/2020 12/31/2019 3/31/2020 6/30/2020 9/30/2020

STATEMENT OF INCOME BY QUARTER 23 (1) Certain balances have been reclassified to match current period presentation (In thousands, except share data) Interest income $ 64,406 $ 69,551 $ 63,211 $ 61,074 $ 64,810 Interest expense (40,962) (46,930) (43,408) (43,823) (41,319) Net interest income before provision for loan losses $ 23,444 $ 22,621 $ 19,803 $ 17,251 $ 23,491 (Provision for) Recovery of loan losses (1,125) (39,804) 591 4,231 258 Net interest income after (provision for) recovery of loan losses $ 22,319 $ (17,183) $ 20,394 $ 21,482 $ 23,749 Non-interest income Residential mortgage banking activities $ 18,918 $ 36,669 $ 80,564 $ 75,524 $ 59,963 Net realized gain on financial instruments and real estate owned 8,044 7,172 7,438 7,507 9,795 Net unrealized gain (loss) on financial instruments 3,009 (33,434) (13,744) 3,420 (4,339) Servicing income, net of amortization and impairment 8,653 8,097 8,982 10,115 11,401 Income on purchased future receivables, net 2,362 3,483 5,586 4,848 1,794 Income (loss) on unconsolidated joint ventures 29 (3,537) 507 1,996 3,439 Other income 4,407 4,073 31,594 4,496 1,353 Total non-interest income $ 45,422 $ 22,523 $ 120,927 $ 107,906 $ 83,406 Non-interest expense Employee compensation and benefits (13,842) (18,936) (27,288) (27,612) (18,084) Allocated employee compensation and benefits from related party (1,870) (1,250) (1,250) (2,250) (2,250) Variable expenses on residential mortgage banking activities (11,765) (20,129) (36,446) (30,918) (27,016) Professional fees (1,989) (2,556) (1,919) (4,158) (4,728) Management fees – related party (2,591) (2,561) (2,666) (2,714) (2,741) Incentive fees – related party (106) — (3,506) (1,134) (1,333) Loan servicing expense (4,891) (5,570) (10,327) (8,231) (6,734) Merger related expenses (1,629) (47) (11) (6) — Other operating expenses (10,070) (13,744) (17,745) (10,448) (12,442) Total non-interest expense $ (48,753) $ (64,793) $ (101,158) $ (87,471) $ (75,328) Income (loss) before provision for income taxes $ 18,988 $ (59,453) $ 40,163 $ 41,917 $ 31,827 Income tax (provision) benefit 1,948 7,937 (5,500) (6,554) (4,268) Net income (loss) $ 20,936 $ (51,516) $ 34,663 $ 35,363 $ 27,559 Less: Net income (loss) attributable to non-controlling interest 508 (1,064) 810 805 648 Net income (loss) attributable to Ready Capital Corporation $ 20,428 $ (50,452) $ 33,853 $ 34,558 $ 26,911 Earnings (loss) per common share - basic $ 0.43 $ (0.98) $ 0.62 $ 0.63 $ 0.49 Earnings (loss) per common share - diluted $ 0.43 $ (0.98) $ 0.62 $ 0.63 $ 0.49 Weighted-average shares outstanding - Basic 46,446,573 51,984,040 53,980,451 54,626,995 54,338,209 Weighted-average shares outstanding - Diluted 46,482,470 51,990,013 54,013,958 54,704,611 54,420,064 Dividends declared per share of common stock $ 0.40 $ 0.40 $ 0.25 $ 0.30 $ 0.35 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

DISTRIBUTABLE EARNINGS RECONCILIATION BY QUARTER 24 The Company believes that this non-U.S. GAAP financial information, in addition to the related U.S. GAAP measures, provides investors greater transparency into the information used by management in its financial and operational decision-making, including the determination of dividends. However, because Distributable Earnings is an incomplete measure of the Company's financial performance and involves differences from net income computed in accordance with U.S. GAAP, it should be considered along with, but not as an alternative to, the Company's net income computed in accordance with U.S. GAAP as a measure of the Company's financial performance. In addition, because not all companies use identical calculations, the Company's presentation of Distributable Earnings may not be comparable to other similarly-titled measures of other companies. We calculate Distributable earnings as GAAP net income (loss) excluding the following: i) any unrealized gains or losses on certain MBS ii) any realized gains or losses on sales of certain MBS iii) any unrealized gains or losses on Residential MSRs iv) any unrealized gains or losses resulting from a change in CECL impairment reserves on accrual loans v) one-time non-recurring gains or losses, such as gains or losses on discontinued operations, bargain purchase gains, or merger related expenses In calculating Distributable Earnings, Net Income (in accordance with U.S. GAAP) is adjusted to exclude unrealized gains and losses on MBS acquired by the Company in the secondary market but is not adjusted to exclude unrealized gains and losses on MBS retained by Ready Capital as part of its loan origination businesses, where the Company transfers originated loans into an MBS securitization and the Company retains an interest in the securitization. In calculating Distributable Earnings, the Company does not adjust Net Income (in accordance with U.S. GAAP) to take into account unrealized gains and losses on MBS retained by us as part of the loan origination businesses because the unrealized gains and losses that are generated in the loan origination and securitization process are considered to be a fundamental part of this business and an indicator of the ongoing performance and credit quality of the Company’s historical loan originations. In calculating Distributable Earnings, Net Income (in accordance with U.S. GAAP) is adjusted to exclude realized gains and losses on certain MBS securities considered to be non-distributable. Certain MBS positions are considered to be non-distributable due to a variety of reasons which may include collateral type, duration, and size. In 2016, the Company liquidated the majority of its MBS portfolio from distributable earnings to fund recurring operating segments. In addition, in calculating Distributable Earnings, Net Income (in accordance with U.S. GAAP) is adjusted to exclude unrealized gains or losses on residential MSRs, held at fair value. The Company treats its commercial MSRs and residential MSRs as two separate classes based on the nature of the underlying mortgages and the treatment of these assets as two separate pools for risk management purposes. Servicing rights relating to the Company’s small business commercial business are accounted for under ASC 860, Transfer and Servicing, while the Company’s residential MSRs are accounted for under the fair value option under ASC 825, Financial Instruments. In calculating Distributable Earnings, the Company does not exclude realized gains or losses on either commercial MSRs or residential MSRs, held at fair value, as servicing income is a fundamental part of Ready Capital’s business and is an indicator of the ongoing performance. To qualify as a REIT, the Company must distribute to its stockholders each calendar year at least 90% of its REIT taxable income (including certain items of non-cash income), determined without regard to the deduction for dividends paid and excluding net capital gain. There are certain items, including net income generated from the creation of MSRs, that are included in distributable earnings but are not included in the calculation of the current year’s taxable income. These differences may result in certain items that are recognized in the current period’s calculation of distributable earnings not being included in taxable income, and thus not subject to the REIT dividend distribution requirement until future years. (In thousands, except share data) Net Income $ 20,936 $ (51,516) $ 34,663 $ 35,363 $ 27,559 Reconciling items: Unrealized (gain) loss on mortgage servicing rights $ (2,482) $ 16,437 $ 12,044 $ 4,688 $ 4,087 Change in CECL reserve on accrual loans — 35,438 (5,076) (7,248) (3,587) Non-recurring REO impairment — 2,969 106 (114) 445 Merger transaction costs and other non-recurring expenses 1,938 1,255 967 998 1,323 Unrealized loss on mortgage-backed securities 29 230 (45) — — Unrealized loss on de-designated cash flow hedges — 2,118 — — — Total reconciling items $ (515) $ 58,447 $ 7,996 $ (1,676) $ 2,268 Distributable earnings before income taxes $ 20,421 $ 6,931 $ 42,659 $ 33,687 $ 29,827 Income tax adjustments 544 (5,706) (3,436) (1,561) (1,023) Distributable earnings $ 20,965 $ 1,225 $ 39,223 $ 32,126 $ 28,804 Less: Distributable earnings attributable to non-controlling interests $ 509 $ 25 $ 917 $ 731 $ 677 Less: Income attributable to participating shares 413 463 285 339 305 Distributable earnings attributable to Common Stockholders $ 20,043 $ 736 $ 38,021 $ 31,056 $ 27,822 DIstributable earnings per share $ 0.43 $ 0.01 $ 0.70 $ 0.57 $ 0.51 Weighted average common shares outstanding 46,446,573 51,984,040 53,980,451 54,626,995 54,338,209 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020