SUPPLEMENTAL FINANCIAL DATAQ4 2021

2DisclaimerThispresentationcontainsstatementsthatconstitute“forward-lookingstatements,”assuchtermisdefinedinSection27AoftheSecuritiesActof1933,asamended,andSection21EoftheSecuritiesExchangeActof1934,asamended,andsuchstatementsareintendedtobecoveredbythesafeharborprovidedbythesame.Thesestatementsarebasedonmanagement’scurrentexpectationsandbeliefsandaresubjecttoanumberoftrendsanduncertaintiesthatcouldcauseactualresultstodiffermateriallyfromthosedescribedintheforward-lookingstatements;ReadyCapitalCorporation(the“Company”)cangivenoassurancethatitsexpectationswillbeattained.FactorsthatcouldcauseactualresultstodiffermateriallyfromtheCompany’sexpectationsincludethosesetforthintheRiskFactorssectionofthemostrecentAnnualReportonForm10-KfiledwiththeSECandotherreportsfiledbytheCompanywiththeSEC,copiesofwhichareavailableontheSEC’swebsite,www.sec.gov.TheCompanyundertakesnoobligationtoupdatethesestatementsforrevisionsorchangesafterthedateofthisrelease,exceptasrequiredbylaw.Thispresentationincludescertainnon-GAAPfinancialmeasures,includingDistributableearnings.Thesenon-GAAPfinancialmeasuresshouldbeconsideredonlyassupplementalto,andnotassuperiorto,financialmeasuresinaccordancewithGAAP.PleaserefertotheAppendixforthemostrecentGAAPinformation.Thispresentationalsocontainsmarketstatisticsandindustrydatawhicharesubjecttouncertaintyandarenotnecessarilyreflectiveofmarketconditions.ThesehavebeenderivedfromthirdpartysourcesandhavenotbeenindependentlyverifiedbytheCompanyoritsaffiliates.Allmaterialpresentediscompiledfromsourcesbelievedtobereliableandcurrent,butaccuracycannotbeguaranteed.AlldataisasofDecember31,2021,unlessotherwisenoted.

3Fourth Quarter 2021 Results Net income of $53.6 million1, or $0.69 per common share Distributable earnings of $52.5 million1, or $0.67 per common shareDeclared dividend of $0.42 per common share Earnings / Dividends Return on Equity2of 18.1% Distributable Return on Equity3of 17.8%Dividend Yield4of 10.7% Returns CREoriginationsandacquisitionsof$2.3billionSBAloanoriginationsof$135.7millionResidentialmortgageloanoriginationsof$876.3millionClosedinexcessof$1.5billioninbridgefinancingduringthequarter,morethan$3.7billionfortheyearRedStonehasclosed$548millionoffinancingssincebeingacquired Loan Originations5/ Acquisitions1.Before dividends on preferred securities and inclusive of non-controlling interest2.Return on equity is an annualized percentage equal to quarterly net income over the average monthly total stockholders’ equity for the period3.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 by Quarter” slide for a reconciliation of GAAP Net Income to Distributable Earnings4.Q4 dividend yield for the period is based on the 12/31/2021 closing share price of $15.635.Represents fully committed amounts

4Fourth Quarter 2021 Results (continued) Total liquidity of $246million1including cash, anticipated warehouse advances, principal and interest receivable from servicers, and anticipated proceeds from available-for-sale assets Current Liquidity Closed$927.2millioncommercialmortgagecollateralizedloanobligationwiththelimitedrighttoacquireallorpartof$135.2millioninfuturefundingClosedanunderwrittenpublicofferingof$110.0millioninaggregateprincipalamountof5.50%seniorunsecurednotesdue2028Closedaprivateplacementof$350.0millioninaggregateprincipalamountof4.50%SeniorSecuredNotesdue2026.TheCompanyusedaportionofthenetproceedstoredeemalloftheoutstanding7.50%SeniorSecuredNotesdue2022. Capital Markets Adjustednetbookvalue2of$15.35percommonshareRecourseleverageratioof2.7xconsistingof1.8xofwarehousecreditfacilitiesandborrowingsunderrepurchaseagreements,0.7xofcorporatedebtand0.2xofagencysecuredborrowings Balance Sheet Enteredintoadefinitivemergeragreementtoacquireaseriesofprivatelyheld,realestatestructuredfinanceopportunitiesfunds,withafocusonconstructionlending,managedbyMRECManagement,LLC.ThemergerisexpectedtocloseduringQ12022. Mosaic Merger1.Liquidity balance as of February 24, 20222.Excludes the equity component of our 2017 convertible note issuance

52021 Highlights EARNINGS ($ in millions) RETURN ON EQUITY INVESTMENT ACTIVITY ($ in millions) BALANCE SHEET GROWTH ($ in millions) $61.5$75.1$46.1$160.0$58.7$67.3$101.4$168.0$0$50$100$150$2002018201920202021 Net income Distributable earnings 10.8%10.5%5.6%14.6%10.3%9.4%12.3%15.4%11.4%10.9%10.4%11.2%0%5%10% 15%2018201920202021 Return on equity Distributable return on equity Dividend Yield $1,568.7$2,425.2$1,372.9$5,468.9$213.0$216.3$216.6$480.8$1,778.8$2,105.6$4,246.4$4,208.6$0$2,000$4,000$6,000 $8,000$10,0002018201920202021 SBC Lending & Acquisitions Small Business Lending Residential Mortgage Banking $3,036.8$4,977.0$5,297.2$8,663.7$564.1$844.8$834.2$1,280.6$0$3,000$6,000$9,0002018201920202021 Assets Equity1.Before dividends on preferred securities and inclusive of non-controlling interest2.Return on equity is an annualized percentage equal to quarterly net income over the average monthly total stockholders’ equity for the period3.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 Earnings4.Dividend yield is based on the respective year end closing share price5.Excludes the impact of Paycheck Protection Program loans112345

6Return on Equity1.Leveredyieldincludesinterestincome,accretionofdiscount,MSRcreation,incomefromunconsolidatedjointventures,realizedgains(losses)onloansheldforsale,unrealizedgains(losses)onloansheldforsaleandservicingincomenetofinterestexpenseandamortizationofdeferredfinancingcostsonanannualizedbasis.2.GAAPROEisbasedonGAAPNetIncome,whileDistributableROEisbasedonDistributableEarnings,whichadjustsGAAPNetIncomeforcertainitemsdetailedonthe“DistributableEarningsReconciliation”slide.3.ROEbasedonnetincomebeforetaxoftheResidentialMortgageBankingbusinesslinedividedbythebusinessline’saveragemonthlyequity.

7Diversified, Complementary, & Scalable Platforms 13%13%50%2%17%5% Acquisitions SBC Originations - Fixed rate SBC Originations - Bridge SBC Originations - Freddie Mac Small Business Lending Residential Mortgage Banking PORTFOLIO BREAKDOWN1 REVENUE BREAKDOWN2 ($ in thousands) $5,752$4,519$29,481$11,032$40,763$26,673$0$5,000$10,000$15,000$20,000$25,000$30,000$35,000$40,000$45,000AcquisitionsSBCOriginations- Fixed rateSBCOriginations- BridgeSBCOriginations- FreddieMacSmallBusinessLendingResidentialMortgageBanking1.Assetsincludeloans,MBS,servicingassets,JVinvestments,realestateowned,andpurchasedfuturereceivables.2.BasedonQTDDistributableEarningsincludinginterestincome,accretionofdiscount,MSRcreation,incomefromunconsolidatedjointventures,realizedgains(losses)onloansheldforsale,unrealizedgains(losses)onloansheldforsaleandservicingincomenetofinterestexpenseandamortizationofdeferredfinancingcostsonanannualizedbasis.

8SBC and SBA Investment by Product Type $65.6$52.0$148.7$144.3$135.7$34.8$6.0$53.6$104.9$98.2$132.1$164.4$240.5$135.5$169.3$243.2$652.8$807.2$730.4$1,529.2$140.2$168.0$29.0$136.2$443.8$0$400$800$1,200 $1,600 $2,000 $2,400Q4'20Q1'21Q2'21Q3'21Q4'21 SBA Fixed Rate/CMBS Freddie Mac Transitional Acquired Other $2,405.2 $1,419.3 $1,250.0 $875.21.Origination volumes are based on fully committed amounts in millions QUARTERLY GROWTH1 $615.9

9SBC Lending and Acquisitions1.Excludes joint venture investments2.56.9% of fixed rate loans match funded3. Calculated on unpaid principal balance4. Includes realized and unrealized gains (losses) on loans held for sale and MSR creation5. Includes interest income, accretion of discount, and servicing income net of interest expense and amortization of deferredfinancing costs6. Includes originated SBC floating rate loans that are included in our RCMT securitization and therefore, categorized as fixed/cmbs GROSS LEVERED YIELD LOAN COUNT(1)UPBBOOK VALUEWA LTVWA COUPONFIXED/FLOAT(2)60%+(3)2,608$6.76B$6.71B65.5%4.6%26.4 / 73.6%1.8%ACQUIRED1,868$1.20B$1.19B44.4%5.1%52.1 / 47.9%3.0%TRANSITIONAL433$4.43B$4.39B72.0%4.2%0.5 / 99.5%1.0%FIXED/CMBS(6)291$1.09B$1.09B62.7%5.0%99.1 / 0.9%3.6%AGENCY16$43M$44M69.7%3.4%78.7 / 21.3%0.0% CURRENT QUARTER HIGHLIGHTS 11.5%10.4%10.4%10.1%10.3%3.3%1.7%3.0%2.2%2.0%0%5%10% 15%Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021 Income on joint venture investments and gains on loans, held for sale Gross levered yield (ex. gains)45•FreddieMaccontinuedlowratesaveraging3.4%withamoneyuppipelineof$121.7million,including$23.5millionfundedinJanuary•CREmoneyuppipelineof$1.1billion,including$356.1millionfundedinJanuary

10Small Business Lending GROSS LEVERED YIELD LOAN COUNTUPBBOOK VALUEWA LTVWA COUPONFIXED/FLOAT60%+(1)1,886$657M$623M88.4%5.5%0.6 / 99.4%1.2% CURRENT QUARTER HIGHLIGHTS 28.4%37.0%18.6%20.7%16.5%34.6%50.4%80.6%55.4%33.2%0%20%40%60%80%100%Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021 Gross levered yield (ex. gains) Gains on loans, held for sale1. Includes interest income, accretion of discount, and servicing income net of interest expense and amortization of deferredfinancing costs2. Includes realized and unrealized gains (losses) on loans held for sale and MSR creation21•SBAnetsalespremiumspeakingat14.9%andaveraging11.5%net,with19.6%ofSBAsalessoldforahigherfutureIOstrip•Currentmoneyuppipelineof$169.0million,including$20.6millionfundedinJanuary•After-taxPPPincomewas$16.1million

11Loan Portfolio Composition 21%15%13%10%41%Small Business Lending Lodging Doctors Retail Eating Place Other1. Calculated on unpaid principal balance and excludes assets offset by guaranteed loan financing liabilities 58%11%9%8%14%SBC Lendingand Acquisitions Multi-family Retail Office Mixed-use Other Investments PROPERTY TYPE GEOGRAPHY 20%14%8%7%7%44%SBC Lendingand Acquisitions Texas California Arizona New York Georgia Other 17%12%8%5%5%53%Small Business Lending California Texas Florida Washington Georgia Other

12 QUARTERLY ORIGINATIONS UPB $875.8MSEGMENT SNAPSHOTResidential Mortgage Banking 54%46%Production by Purpose Purchased Refinanced QUARTERLY SALES UPB $921.7M 76%21% 3% Sales by Investor Fannie/Freddie Ginnie Mae Other MSR PORTFOLIO UPDATE ($ in billions) 45%37%18%Production by Platform Retail Correspondent Wholesale $9.5$9.9$10.4$10.7$11.03.7%3.6%3.5%3.4%3.4%2.0%2.5% 3.0% 3.5% 4.0%$0$2$4$6$8$10$12Q4'20Q1'21Q2'21Q3'21Q4'21 UPB WAC

13Loan Portfolio –Risk Rating BUCKET1:VeryLowRiskofLoss:Neworiginationorcurrentwithstrongcreditmetrics(LTV/DSCR/DY).Noexpectedlosses.BUCKET2:LowRiskofLoss:Currentwithmaturity>6months.LowercreditmetricswithpossibilityofinclusiononCREFCwatchlist.Noexpectedlosses.BUCKET3:MediumRiskofLoss:Currentwithneartermmaturitiesorinforbearance.Lossunlikelywithnospecificreservesbooked.BUCKET4:HigherRisk:Loandelinquentorinmaturitydefault.Potentialissueswithsponsororbusinessplans.Minimallossespossibleandadequatelyreservedincurrentperiod.BUCKET5:Highestrisk:Loanindefaultorspecialservicing.Specificlossesidentifiedandadequatelyreservedforincurrentperiod. RISK RATING DISTRIBUTION CRITERIA 90%5%3%2%85%8%5%2%0%20%40%60% 80%100%1 & 2345 SBC SBA 1.98 1.82 1.72 1.62 1.51 2.02 1.88 1.69 1.71 1.68 - 0.50 1.00 1.50 2.00 2.50Q4'20Q1'21Q2'21Q3'21Q4'21 SBC SBA RISK RATING DISTRIBUTION

18%15%13%13%13%2%3%2%2%3%2%1%1%1%7%7%6%6%9%30%44%49%47%39%42%30%28%31%36%Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021 Funding Mix Securitized debt oblications Credit faciities and repurchase agreements Senior secured notes and Corporate debt Convertible senior notes Preferred Equity Common Stockholders Equity 14Capital Structure HISTORICAL CAPITAL STRUCTURE HISTORICAL LEVERAGE Total Debt & Eqty ($M) $4,553$7,233$8,222$8,531$8,859 4.5x5.1x5.4x5.9x5.9x2.2x2.3x1.8x2.2x2.7x0.01.0 2.0 3.04.05.0 6.0Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021 Debt-to-equity ratio Recourse debt-to-equity ratio Corporate Financing (in millions) Principal Balance Coupon Convertible Notes $115.0 7.0% Senior Secured Notes $350.0 4.5% Baby Bonds $415.5 5.8% Junior Subordinated Notes $36.3 3.3% Series C Convertible Preferred Stock $8.4 6.3% Series E Preferred Stock $115.0 6.5% Total $1,040.2 5.6%

15Financial Snapshot Investment Type Average Carrying Value (1) Gross Yield(2) Average Debt Balance Debt Cost (3) Levered Yield SBC Lending and Acquisitions $ 6,304,317 5.4%$ 4,694,787 3.0% 12.6% Small Business Lending $ 304,962 22.6%$ 181,848 4.2% 49.7% Total $ 6,609,279 6.2% $ 4,876,635 3.0% 18.0% Book Equity Value Metrics Common Stockholders' equity $ 1,164,726 Common Stockholders' equity (adjusted) (5) $ 1,164,084 Total Common Shares outstanding 75,838,050 Net Book Value per Common Share $ 15.36 Adjusted Net Book Value per Common Share $ 15.35 Loan Portfolio Metrics (4)% Fixed vs Floating Rate 26% / 74% % Originated vs Acquired 84% / 16% Weighted Average LTV -SBC 66% Weighted Average LTV -SBA 88% Q4 2021 Earnings Data Metrics Net income | Distributable earnings $53,588 | $52,535 Earnings per share -Basic and diluted $0.69 | $0.68 Distributable Earnings per share -Basic and diluted $0.67 Return on Equity per Common Share 18.1% Distributable Return on Equity per Common Share 17.8% Dividend Yield (6) 10.7% Servicing Portfolio MetricsSBA servicing rights -UPB $ 856,188 SBA servicing rights-carrying value $ 22,157 Freddie Mac servicing rights -UPB $ 4,232,969 Freddie Mac servicing rights -carrying value $ 62,300 Residential servicing rights -UPB $ 10,995,685 Residential servicing rights -carrying value $ 120,142 1.Averagecarryingvalueincludesaveragequarterlycarryingvalueofloanandservicingassetbalances2.Grossyieldsincludeinterestincome,accretionofdiscount,MSRcreation,incomefromourunconsolidatedjointventure,realizedgains(losses)onloansheldforsale,unrealizedgains(losses)onloansheldforsaleandservicingincomenetofinterestexpenseandamortizationofdeferredfinancingcostsonanannualizedbasis.3.TheCompanyfinancestheassetsincludedintheInvestmentTypethroughsecuritizations,repurchaseagreements,warehousefacilitiesandbankcreditfacilities.Interestexpenseiscalculatedbasedoninterestexpenseanddeferredfinancingamortizationforthequarterended12/31/2021onanannualizedbasis.4.Excludesloans,heldforsale,atfairvalue5.Excludestheequitycomponentofour2017convertiblenoteissuance.6.Q4Dividendyieldfortheperiodisbasedonthe12/31/2021closingsharepriceof$15.63

APPENDIXAdditional Financial Information

17Balance Sheet by Quarter

18Statement of Income by Quarter (In thousands, except share data) Interest income$64,810 $73,371 $103,047 $105,136 $121,942 Interest expense (41,319) (50,761) (55,415) (50,136) (57,249) Net interest income before provision for loan losses$23,491 $22,610 $47,632 $55,000 $64,693 Recovery of (provision for) loan losses 258 8 (5,517) (1,579) (961) Net interest income after provision for loan losses$23,749 $22,618 $42,115 $53,421 $63,732 Non-interest income Residential mortgage banking activities$59,963 $41,409 $36,690 $37,270 $21,928 Net realied gain on financial instruments and real estate oned9,795 8,846 17,183 23,210 19,642 Net unrealied gain (loss) on financial instruments(4,339) 20,996 4,612 5,688 8,081 Servicing income, net of amortiation and impairment 11,401 15,635 11,928 10,243 10,209 Income on purchased future receivables, net1,794 2,317 2,779 2,838 2,323 Income (loss) on unconsolidated oint ventures3,439 (809) 3,361 3,548 816 ther income (loss) 1,353 571 (688) 5,674 3,452 Total non-interest income$83,406 $88,965 $75,865 $88,471 $66,451 Non-interest expense Employee compensation and benefits$(18,084) $(22,777) $(24,270) $(24,537) $(18,481) Allocated employee compensation and benefits from related party (2,250) (2,123) (3,299) (3,804) (2,805) Variable expenses on residential mortgage banking activities(27,016) (15,485) (21,421) (24,380) (13,847) Professional fees (4,728) (2,982) (2,872) (6,900) (3,585) Management fees related party (2,741) (2,693) (2,626) (2,742) (2,867) Incentive fees related party (1,333) (286) (2,775) (2,358) Loan servicing expense (6,734) (6,104) (6,851) (8,124) (8,904) Transaction related expenses (6,307) (1,266) (2,629) (4,080) ther operating expenses (12,442) (15,484) (17,190) (12,926) (12,801) Total non-interest expense$(75,328) $(73,955) $(80,081) $(88,817) $(69,728) Income before provision for income taxes$31,827 $37,628 $37,899 $53,075 $60,455 Income tax (provision) benefit (4,268) (8,681) (6,995) (6,540) (6,867) Net income$27,559 $28,947 $30,904 $46,535 $53,588 Less: Dividends on preferred stock 281 3,224 1,999 1,999 Less: Net income attributable to non-controlling interest 648 659 444 756 371 Net income attributable to Ready Capital Corporation$26,911 $28,007 $27,236 $43,780 $51,218 Earnings per common share - basic$0.49 $0.49 $0.38 $0.61 $0.69 Earnings per common share - diluted$0.49 $0.49 $0.38 $0.60 $0.68 eighted-average shares outstanding - Basic54,338,209 56,817,632 71,221,806 71,618,168 74,163,951 eighted-average shares outstanding - Diluted54,420,064 56,843,448 71,385,603 71,787,228 74,326,672 Dividends declared per share of common stock$0.35 $0.40 $0.42 $0.42 $0.42 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021

19Distributable Earnings Reconciliation by QuarterTheCompanybelievesthatthisnon-U.S.GAAPfinancialinformation,inadditiontotherelatedU.S.GAAPmeasures,providesinvestorsgreatertransparencyintotheinformationusedbymanagementinitsfinancialandoperationaldecision-making,includingthedeterminationofdividends.However,becauseDistributableEarningsisanincompletemeasureoftheCompany'sfinancialperformanceandinvolvesdifferencesfromnetincomecomputedinaccordancewithU.S.GAAP,itshouldbeconsideredalongwith,butnotasanalternativeto,theCompany'snetincomecomputedinaccordancewithU.S.GAAPasameasureoftheCompany'sfinancialperformance.Inaddition,becausenotallcompaniesuseidenticalcalculations,theCompany'spresentationofDistributableEarningsmaynotbecomparabletoothersimilarly-titledmeasuresofothercompanies.WecalculateDistributableearningsasGAAPnetincome(loss)excludingthefollowing:i)anyunrealizedgainsorlossesoncertainMBSnotretainedbyusaspartofourloanoriginationbusinessesii)anyrealizedgainsorlossesonsalesofcertainMBSiii)anyunrealizedgainsorlossesonResidentialMSRsiv)anyunrealizedcurrentnon-cashprovisionforcreditlossesonaccrualloansv)anyunrealizedgainsorlossesonde-designatedcashflowhedgesvi)one-timenon-recurringgainsorlosses,suchasgainsorlossesondiscontinuedoperations,bargainpurchasegains,ormergerrelatedexpensesIncalculatingDistributableEarnings,NetIncome(inaccordancewithU.S.GAAP)isadjustedtoexcludeunrealizedgainsandlossesonMBSacquiredbytheCompanyinthesecondarymarketbutisnotadjustedtoexcludeunrealizedgainsandlossesonMBSretainedbyReadyCapitalaspartofitsloanoriginationbusinesses,wheretheCompanytransfersoriginatedloansintoanMBSsecuritizationandtheCompanyretainsaninterestinthesecuritization.IncalculatingDistributableEarnings,theCompanydoesnotadjustNetIncome(inaccordancewithU.S.GAAP)totakeintoaccountunrealizedgainsandlossesonMBSretainedbyusaspartoftheloanoriginationbusinessesbecausetheunrealizedgainsandlossesthataregeneratedintheloanoriginationandsecuritizationprocessareconsideredtobeafundamentalpartofthisbusinessandanindicatoroftheongoingperformanceandcreditqualityoftheCompany’shistoricalloanoriginations.IncalculatingDistributableEarnings,NetIncome(inaccordancewithU.S.GAAP)isadjustedtoexcluderealizedgainsandlossesoncertainMBSsecuritiesconsideredtobenon-distributable.CertainMBSpositionsareconsideredtobenon-distributableduetoavarietyofreasonswhichmayincludecollateraltype,duration,andsize.In2016,theCompanyliquidatedthemajorityofitsMBSportfoliofromdistributableearningstofundrecurringoperatingsegments. Inaddition,incalculatingDistributableEarnings,NetIncome(inaccordancewithU.S.GAAP)isadjustedtoexcludeunrealizedgainsorlossesonresidentialMSRs,heldatfairvalue.TheCompanytreatsitscommercialMSRsandresidentialMSRsastwoseparateclassesbasedonthenatureoftheunderlyingmortgagesandthetreatmentoftheseassetsastwoseparatepoolsforriskmanagementpurposes.ServicingrightsrelatingtotheCompany’ssmallbusinesscommercialbusinessareaccountedforunderASC860,TransferandServicing,whiletheCompany’sresidentialMSRsareaccountedforunderthefairvalueoptionunderASC825,FinancialInstruments.IncalculatingDistributableEarnings,theCompanydoesnotexcluderealizedgainsorlossesoneithercommercialMSRsorresidentialMSRs,heldatfairvalue,asservicingincomeisafundamentalpartofReadyCapital’sbusinessandisanindicatoroftheongoingperformance.ToqualifyasaREIT,theCompanymustdistributetoitsstockholderseachcalendaryearatleast90%ofitsREITtaxableincome(includingcertainitemsofnon-cashincome),determinedwithoutregardtothedeductionfordividendspaidandexcludingnetcapitalgain.Therearecertainitems,includingnetincomegeneratedfromthecreationofMSRs,thatareincludedindistributableearningsbutarenotincludedinthecalculationofthecurrentyear’staxableincome.Thesedifferencesmayresultincertainitemsthatarerecognizedinthecurrentperiod’scalculationofdistributableearningsnotbeingincludedintaxableincome,andthusnotsubjecttotheREITdividenddistributionrequirementuntilfutureyears.