Exhibit 99.1

PennyMac Financial Services, Inc. Reports

Fourth Quarter and Full-Year 2023 Results

WESTLAKE VILLAGE, Calif. – February 1, 2024 – PennyMac Financial Services, Inc. (NYSE: PFSI) today reported a net loss of $36.8 million for the fourth quarter of 2023, or $(0.74) per share on a diluted basis, on revenue of $361.9 million. Book value per share decreased to $70.52 from $71.56 at September 30, 2023.

PFSI’s Board of Directors declared a fourth quarter cash dividend of $0.20 per share, payable on February 23, 2024, to common stockholders of record as of February 13, 2024.

Fourth Quarter 2023 Highlights

Full-Year 2023 Highlights

“PennyMac Financial produced an annualized operating return on equity of 15%1 in the fourth quarter, marking the culmination of another outstanding year for the company and highlighting the strength of our balanced business model,” said Chairman and CEO David Spector. “The net loss in the fourth quarter was primarily driven by a one-time accrual related to the award in our long-running arbitration with Black Knight. While we disagree with the final ruling, we are very pleased to retain ownership of our industry-leading servicing system, as well as the ability to utilize it as we see fit to benefit our customers and stakeholders.”

Mr. Spector continued, “2023 was one of the more challenging origination markets in recent history, with industry volumes down approximately 40 percent from 2022 and unit originations at their lowest levels since 1990. However, Pennymac, through its multi-channel production platform, produced nearly $100 billion in UPB of mortgage loans, down only 9 percent from 2022, demonstrating both our strong access to the purchase market and our ability to profitably support our customers and business partners. These production volumes continued to drive the organic growth of our servicing portfolio, which ended the year at more than $600 billion in UPB, up 10 percent from the end of last year. Our scaled and growing servicing business is key to the success we have achieved, driving earnings in higher interest rate environments and future opportunities as our customer base continues to expand.”

Mr. Spector concluded, “I am extraordinarily proud of what we accomplished in 2023 and I am even more excited about PennyMac Financial’s future. Our long track record of strong operational and financial performance is unique in the mortgage industry and has been driven by the resilience of our balanced business model with industry-leading positions in both production and servicing, as well as our strong capital and risk management disciplines. I believe we are the most well-positioned company in the industry with proprietary, industry-leading technology, a strong balance sheet, and a growing population of servicing customers that stand to benefit from the products and services we offer to best fit their home ownership needs.”

1 See page 15 for a reconciliation of non-GAAP items The following table presents the contributions of PennyMac Financial’s segments to pretax income:

Production Segment

The Production segment includes the correspondent acquisition of newly originated government-insured and certain conventional conforming loans for PennyMac Financial’s own account, fulfillment services on behalf of PMT and direct lending through the consumer direct and broker direct channels, including the underwriting and acquisition of loans from correspondent sellers on a non-delegated basis.

PennyMac Financial’s loan production activity for the quarter totaled $26.7 billion in UPB, $24.2 billion of which was for its own account, and $2.5 billion of which was fee-based fulfillment activity for PMT. Correspondent locks for PFSI and direct lending IRLCs totaled $25.6 billion in UPB, up 2 percent from the prior quarter and 34 percent from the fourth quarter of 2022.

Production segment pretax income was $39.4 million, up from pretax income of $25.2 million in the prior quarter and a pretax loss of $9.0 million in the fourth quarter of 2022. Production segment revenue totaled $176.5 million, essentially unchanged from the prior quarter and up 34 percent from the fourth quarter of 2022. The increase from the fourth quarter of 2022 was driven primarily by higher net gains on loans held for sale due to higher volumes and margins.

The components of net gains on loans held for sale are detailed in the following table:

PennyMac Financial performs fulfillment services for certain conventional conforming and jumbo loans acquired by PMT from non-affiliates in its correspondent production business. These services include, but are not limited to, marketing, relationship management, correspondent seller approval and monitoring, loan file review, underwriting, pricing, hedging and activities related to the subsequent sale and securitization of loans in the secondary mortgage markets for PMT.

Fees earned from the fulfillment of correspondent loans on behalf of PMT totaled $4.9 million in the fourth quarter, down 11 percent from the prior quarter and 60 percent from the fourth quarter of 2022. The quarter-over-quarter decrease was driven by lower conventional acquisition volumes for PMT’s account.

Net interest income in the fourth quarter totaled $8.2 million, up from $2.5 million in the prior quarter. Interest income totaled $73.4 million, up from $62.2 million in the prior quarter, and interest expense totaled $65.2 million, up from $59.6 million in the prior quarter, both due to higher volumes and higher average note rates on newly originated loans.

Production segment expenses were $137.1 million, down 8 percent from the prior quarter and 2 percent from the fourth quarter of 2022. Production expenses, net of loan origination expense, were lower than the prior quarter primarily due to lower compensation accruals related to financial performance.

Servicing Segment

The Servicing segment includes income from owned MSRs, subservicing and special servicing activities. The total servicing portfolio grew to $607.2 billion in UPB at December 31, 2023, an increase of 3 percent from September 30, 2023 and 10 percent from December 31, 2022. PennyMac Financial subservices and conducts special servicing for $232.7 billion in UPB. PennyMac Financial’s owned MSR portfolio grew to $374.6 billion in UPB, an increase of 5 percent from September 30, 2023 and 18 percent from December 31, 2022.

The table below details PennyMac Financial’s servicing portfolio UPB:

Servicing segment pretax loss was $95.5 million compared to pretax income of $101.2 million in the prior quarter and $75.6 million in the fourth quarter of 2022. Servicing segment pretax loss in the fourth quarter included a non-recurring arbitration accrual of $158.4 million. Servicing segment net revenues totaled $175.8 million, down from $217.1 million in the prior quarter and $199.0 million in the fourth quarter of 2022. The quarter-over-quarter decrease was driven primarily by lower net loan servicing fees and net interest expense in the fourth quarter versus net interest income in the prior quarter.

Revenue from net loan servicing fees totaled $162.3 million, down from $185.4 million in the prior quarter primarily driven by increased net valuation related losses and partially offset by increased loan servicing fees due to a larger servicing portfolio and lower realization of cash flows. Net loan servicing fee revenues included $402.5 million in loan servicing fees, reduced by $164.3 million from the realization of MSR cash flows. Net valuation-related losses totaled $75.9 million, and included MSR fair value losses of $370.7 million driven by the decline in mortgage interest rates, and hedging gains of $294.8 million.

The following table presents a breakdown of net loan servicing fees:

Servicing segment revenue included $24.5 million in net gains on loans held for sale related to reperforming government-insured and guaranteed loans purchased out of Ginnie Mae securitizations, or EBOs. These gains were up from $23.6 million in the prior quarter and $17.2 million in the fourth quarter of 2022. These EBOs are previously delinquent loans that were brought back to performing status through PennyMac Financial’s successful servicing efforts.

Net interest expense totaled $13.7 million, versus net interest income of $7.2 million in the prior quarter and net interest expense of $2.7 million in the fourth quarter of 2022. Interest income was $91.6 million, down from $104.4 million in the prior quarter due to decreased placement fees on custodial balances from seasonally lower average balances. Interest expense was $105.3 million, up from $97.2 million in the prior quarter due to higher average balances of debt outstanding during the quarter.

Servicing segment expenses totaled $271.3 million and included a non-recurring arbitration accrual of $158.4 million. Excluding this accrual, servicing segment expenses were $112.9 million, down slightly from the prior quarter.

Investment Management Segment

PennyMac Financial manages PMT for which it earns base management fees and may earn incentive compensation. Net AUM was $2.0 billion as of December 31, 2023, essentially unchanged from September 30, 2023 and December 31, 2022.

Pretax income for the Investment Management segment was $1.9 million, up from $0.4 million in the prior quarter and $1.2 million in the fourth quarter of 2022. Base management fees from PMT were $7.3 million, essentially unchanged from the prior quarter and the fourth quarter of 2022. No performance incentive fees were earned in the fourth quarter.

The following table presents a breakdown of management fees:

Investment Management segment expenses totaled $7.7 million, down 8 percent from the prior quarter and 11 percent from the fourth quarter of 2022.

Consolidated Expenses

Total expenses were $416.2 million. Excluding the non-recurring arbitration accrual of $158.4 million, total expenses were $257.8 million, down from $273.5 million in the prior quarter and $272.7 million in the fourth quarter of 2022.

Taxes

PFSI recorded a benefit from income tax of $17.4 million in the fourth quarter, due to the pretax loss.

***

Management’s slide presentation and accompanying material will be available in the Investor Relations section of the Company’s website at pfsi.pennymac.com after the market closes on Thursday, February 1, 2024. Management will also host a conference call and live audio webcast at 5:00 p.m. Eastern Time to review the Company’s financial results. The webcast can be accessed at pfsi.pennymac.com, and a replay will be available shortly after its conclusion.

***

About PennyMac Financial Services, Inc.

PennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs approximately 3,900 people across the country. In 2023, PennyMac Financial’s production of newly originated loans totaled $99 billion in unpaid principal balance, making it the second largest mortgage lender in the nation. As of December 31, 2023, PennyMac Financial serviced loans totaling $607 billion in unpaid principal balance, making it a top five mortgage servicer in the nation. Additional information about PennyMac Financial Services, Inc. is available at pfsi.pennymac.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections, and assumptions with respect to, among other things, the Company’s financial results, future operations, business plans and investment strategies, as well as industry and market conditions, all of which are subject to change. Words like “believe,” “expect,” “anticipate,” “promise,” “project,” “plan,” and other expressions or words of similar meanings, as well as future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: interest rate changes; declines in real estate or significant changes in U.S. housing prices or activity in the U.S. housing market; the continually changing federal, state and local laws and regulations applicable to the highly regulated industry in which we operate; lawsuits or governmental actions that may result from any noncompliance with the laws and regulations applicable to our business; the mortgage lending and servicing-related regulations promulgated by the Consumer Financial Protection Bureau and its enforcement of these regulations; our dependence on U.S. government-sponsored entities and changes in their current roles or their guarantees or guidelines; the licensing and operational requirements of states and other jurisdictions applicable to our business, to which our bank competitors are not subject; foreclosure delays and changes in foreclosure practices; changes in macroeconomic and U.S. real estate market conditions; difficulties inherent in adjusting the size of our operations to reflect changes in business levels; purchase opportunities for mortgage servicing rights and our success in winning bids; our substantial amount of indebtedness; increases in loan delinquencies, defaults and forbearances; our reliance on PennyMac Mortgage Investment Trust (NYSE: PMT) as a significant contributor to our mortgage banking business; maintaining sufficient capital and liquidity and compliance with financial covenants; our obligation to indemnify third-party purchasers or repurchase loans if loans that we originate, acquire, service or assist in the fulfillment of, fail to meet certain criteria or characteristics or under other circumstances; our obligation to indemnify PMT if our services fail to meet certain criteria or characteristics or under other circumstances; decreases in investment management and incentive fees; conflicts of interest in allocating our services and investment opportunities among us and our advised entities; our ability to mitigate cybersecurity risks, cyber incidents and technology disruptions; the effect of public opinion on our reputation; our exposure to risks of loss and disruptions in operations resulting from adverse weather conditions, man-made or natural disasters, climate change and pandemics; our ability to effectively identify, manage and hedge our credit, interest rate, prepayment, liquidity and climate risks; our initiation or expansion of new business activities or strategies; our ability to detect misconduct and fraud; our ability to pay dividends to our stockholders; and our organizational structure and certain requirements in our charter documents. You should not place undue reliance on any forward- looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, and the statements made in this press release are current as of the date of this release only.

The Company’s earnings materials contain financial information calculated other than in accordance with U.S. generally accepted accounting principles (“GAAP”), such as pretax income and operating return on equity excluding valuation-related changes and a non-recurring legal accrual that provides a meaningful perspective on the Company’s business results since the Company utilizes this information to evaluate and manage the business. Non-GAAP disclosure has limitations as an analytical tool and should not be viewed as a substitute for financial information determined in accordance with GAAP.

PENNYMAC FINANCIAL SERVICES, INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

PENNYMAC FINANCIAL SERVICES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

PENNYMAC FINANCIAL SERVICES, INC.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

PENNYMAC FINANCIAL SERVICES, INC.

RECONCILIATION OF PRETAX LOSS TO OPERATING NET INCOME

(1)  Assumes a tax rate of 26.85%

Exhibit 99.2

4Q23 EARNINGS REPORT PennyMac Financial Services, Inc. February 2024

2 This presentation contains forward - looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections and assumptions with respect to, among other things, our financial results, future operations, business plans and in vestment strategies, as well as industry and market conditions, all of which are subject to change. Words like “believe,” “expect,” “anticipate,” “promise,” “project,” “plan,” and other expression s o r words of similar meanings, as well as future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” are generally intended to identify forward - looking statements. Actual results and o perations for any future period may vary materially from those projected herein and from past results discussed herein. These forward - looking statements include, but are not limited to, statements rega rding future changes in interest rates, prepayment rates and the housing market; future loan origination, servicing and production, including future production, operating and hedge expenses; fu ture loan delinquencies and forbearances; future earnings and return on equity as well as other business and financial expectations. Factors which could cause actual results to differ materially fr om historical results or those anticipated include, but are not limited to: interest rate changes; declines in real estate or significant changes in U.S. housing prices or activity in the U.S. housing mar ket; the continually changing federal, state and local laws and regulations applicable to the highly regulated industry in which we operate; lawsuits or governmental actions that may result from any no nco mpliance with the laws and regulations applicable to our business; the mortgage lending and servicing - related regulations promulgated by the Consumer Financial Protection Bureau and its enforceme nt of these regulations; our dependence on U.S. government - sponsored entities and changes in their current roles or their guarantees or guidelines; the licensing and operational requir eme nts of states and other jurisdictions applicable to our business, to which our bank competitors are not subject; foreclosure delays and changes in foreclosure practices; changes in macroeconomic and U .S. real estate market conditions; difficulties inherent in adjusting the size of our operations to reflect changes in business levels; purchase opportunities for mortgage servicing rights and our su cce ss in winning bids; our substantial amount of indebtedness; increases in loan delinquencies, defaults and forbearances; our reliance on PennyMac Mortgage Investment Trust (NYSE: PMT) as a signifi can t contributor to our mortgage banking business; maintaining sufficient capital and liquidity and compliance with financial covenants; our obligation to indemnify third - party purchasers or repurchase loans if loans that we originate, acquire, service or assist in the fulfillment of, fail to meet certain criteria or characteristics or under other circumstances; our obligation to indemnif y P MT if our services fail to meet certain criteria or characteristics or under other circumstances; decreases in investment management and incentive fees; conflicts of interest in allocating our services and investment opportunities among us and our advised entities; our ability to mitigate cybersecurity risks, cyber incidents and technology disruptions; the effect of public opinion on our repu tat ion; our exposure to risks of loss and disruptions in operations resulting from adverse weather conditions, man - made or natural disasters, climate change and pandemics; our ability to effectively identif y, manage and hedge our credit, interest rate, prepayment, liquidity and climate risks; our initiation or expansion of new business activities or strategies; our ability to detect misconduct and fr aud; our ability to pay dividends to our stockholders; and our organizational structure and certain requirements in our charter documents. You should not place undue reliance on any forward - looking stateme nt and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exch ang e Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward - looking statements or any other information contained herein, and the statem ents made in this press release are current as of the date of this release only. This presentation contain financial information calculated other than in accordance with U.S. generally accepted accounting p rin ciples (“GAAP”), such as pretax income and operating return on equity excluding valuation - related changes and a non - recurring legal accrual that provides a meaningful perspective on the Company’s bu siness results since the Company utilizes this information to evaluate and manage the business. Non - GAAP disclosure has limitations as an analytical tool and should not be viewed as a substi tute for financial information determined in accordance with GAAP.

FORWARD - LOOKING STATEMENTS 3 3 FOURTH QUARTER HIGHLIGHTS PRODUCTION INVESTMENT MANAGEMENT Net income $(37)mm 4Q23 Results Diluted EPS (1) $(0.74) Return on equity (ROE) (4)% Book value per share $70.52 Dividend per common share $ 0.20 Pretax income $39mm $1.6bn PFSI correspondent lock volume $21.2bn Broker direct lock volume $2.8bn $26.7bn Pretax income $1.9mm Net AUM (1) $2.0bn Revenue $9.7mm Note: All figures are for 4Q23 or as of 12/31/23 (1) EPS = earnings per share; MSR = mortgage servicing rights; UPB = unpaid principal balance, includes loans held for sale at fa ir value; AUM = assets under management (2) Includes volume fulfilled or subserviced for PennyMac Mortgage Investment Trust (NYSE: PMT) (3) Excludes $371 million in MSR fair value declines, $295 million in hedging gains, a $6 million provision for losses on active lo ans, and a $158 million arbitration accrual - see slide 15 for additional details SERVICING Pretax income (includes arbitration accrual) $(96)mm MSR (1) fair value changes, hedge, and arbitration accrual impact $(234)mm Pretax income excluding valuation - related items and arbitration accrual (3) $144mm MSR fair value changes, hedge and arbitration accrual impact to diluted EPS $(3.25) Total servicing portfolio UPB (1)(2) $607bn Total loan acquisitions and originations (2) Consumer direct lock volume Strong operating performance more than offset by one - time arbitration accrual of $158 million 4 Note: All figures are for 2023 or are as of 12/31/23 and include loans subserviced or acquired for PMT (1) Excludes arbitration accrual of $158 million in 4Q23 OVERALL 2023 PERFORMANCE VALIDATES STRENGTH OF BALANCED BUSINESS MODEL LOAN PRODUCTION $268mm Adjusted pretax income (1) Total servicing portfolio UPB Customers $607B 2.4mm UPB of total production Correspondent lender $99B #1 $69mm P retax income $805mm $750mm $875mm $41mm $71mm Share repurchases Cash dividends New secured term loans New unsecured senior notes Redemption of secured term notes LOAN SERVICING Loan servicer #5 Loan producer #2 CAPITAL MANAGEMENT

Background • In November 2019, Black Knight (1) filed a lawsuit against PLS (1) alleging misappropriation of trade secrets and breach of contract in order to create its SSE servicing platform • Original suit sought over $340 million in damages and ownership of the related intellectual property; suit was ultimately transferred to arbitration Outcome and Impact • In November 2023, arbitrator categorically rejected Black Knight’s claims of misappropriation of trade secrets, but (wrongfully in our view) partially granted their breach of contract claim • Final award issued in January 2024 was $150 million (plus interest) (2) and PFSI recorded a related accrual of $158 million in the fourth quarter, reducing earnings and book value per share by $2.20 • Arbitrator affirmed that SSE is the proprietary technology of PLS, free and clear of any restrictions on use LITIGATION OUTCOME POSITIVE FOR PENNYMAC 5 Black Knight Litigation SSE Is A Competitive Advantage • Suite of proprietary, cloud - based applications and processes integrated with key partners’ applications and our data warehouse for increased efficiency in servicing, tracking and reporting • Launched in 2019, SSE has performed extremely well, meaningfully enhancing PLS’ capabilities and helping to drive down servicing costs per loan by more than 30% • With this technology free and clear of any restrictions on use or development, we believe there is potential for additional opportunities and benefits for the company over time (1) Black Knight - Black Knight Servicing Technologies, LLC; PLS - PennyMac Loan Services, LLC, a wholly - owned subsidiary of PennyMa c Financial Services, Inc.

(NYSE: PFSI) (2) The final award remains subject to statutory periods allowing either party to move to vacate before it is confirmed Vendor Software Data & Analytics Customer Interface S ervicing S ystems E nvironment ORIGINATION MARKET EXPECTATIONS REFLECT GROWTH 6 U.S. Mortgage Origination Market (1) ($ in trillions) Mortgage Rates Have Declined from Recent Highs • Current third - party estimates for industry originations in the first quarter of 2024 average below $400 billion, though anticipated rate cuts have increased projections for 2024 originations to $2.0 trillion ‒ Unit origination volume is projected to increase in 2024, but remains well below normalized levels (3) • Pennymac was the second largest producer of mortgage loans in 2023 and is well - positioned to take advantage of a growing origination market Note: Figures may not sum due to rounding (1) Actual originations: Inside Mortgage Finance. F orecast originations: Average of Mortgage Bankers Association (1/19/24) and Fannie Mae (1/10/24) forecasts.

(2) Freddie Mac Primary Mortgage Market Survey 6.69% as of 1/25/24 ( 3 ) Zelman & Associates 12/21/2023 (2) $1.8 $1.6 $1.2 $1.5 $2.6 $0.7 $0.2 $0.5 $4.4 $2.3 $1.4 $2.0 2021 2022 2023 2024E Purchase Refinance 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Average 30-year fixed rate mortgage • Operating return on equity grew throughout 2023 ‒ Servicing to continue driving earnings with additional upside potential from the production segment as the origination market improves 7 DOUBLE DIGIT OPERATING ROE ENTERING 2024 Annualized Operating ROE (1) (2) Note: Figures may not sum due to rounding (1) See slide 36 for a reconciliation of non - GAAP items (2) See slide 15 for a reconciliation to servicing pretax income Mortgage Banking Operating Pretax Income ($ in millions) - $20 $24 $25 $39 $94 $75 $120 $144 $75 $99 $145 $184 1Q23 2Q23 3Q23 4Q23 Production Servicing net of valuation related changes and arbitration accrual 7% 9% 13% 15% 1Q23 2Q23 3Q23 4Q23 8 Operating Expenses (bps of average servicing portfolio UPB) Revenue From Servicing & Placement Fees ($ in millions) SERVICING PROVIDES GROWING CASH FLOW AND SCALE BENEFITS • Increasing revenue contribution due to portfolio growth over time • Higher proportion of owned servicing in more recent periods drives increased servicing fees • Increasing contribution from placement fees driven by higher short - term rates in the current market environment • Increased scale and efficiency as the portfolio grows • Lower variable costs due to the implementation of our proprietary servicing system in 2019 • Delinquencies remain low in the current market environment, further reducing operating expenses 10.5 9.5 9.0 9.2 8.3 7.2 2018 2019 2020 2021 2022 2023 $772 $1,022 $1,057 $1,100 $1,351 $1,833 2018 2019 2020 2021 2022 2023 Earnings on custodial balances and deposits and other income Operating revenue from loan servicing, ancillary, and other fees

$34 $43 $51 $55 $57 $13 $24 $38 $57 $78 $47 $67 $89 $111 $135 4Q22 1Q23 2Q23 3Q23 4Q23 Note Rate of 5.00% up to 6.00% Note Rate of 6.00% or Greater Total Servicing Portfolio With Note Rates of 5% or Greater (1) (UPB in bill ions) FUTURE RECAPTURE OPPORTUNITIES ENHANCED BY RECENT PRODUCTION 9 • Pennymac, through its multi - channel production platform, has been one of the largest producers of mortgage loans in recent periods as interest rates increased (1) ‒ Pennymac retains MSRs on nearly all mortgage loan production, driving continued organic servicing portfolio growth ‒ Quarterly production adds approximately $25 billion in UPB of loans at prevailing mortgage rates to the servicing portfolio e ach quarter • The continued addition of higher interest rate loans to the servicing portfolio provides significant refinance opportunities for Consumer Direct when mortgage rates decline Note: Figures may not sum due to rounding (1) Includes loans acquired or subserviced for PMT and includes loans held for sale at fair value 22% of total servicing portfolio PENNYMAC’S MARKET SHARE OVER TIME ACROSS ITS BUSINESSES 10 Loan Servicing Market Share (1) Correspondent Production Market Share (1) Broker Direct Market Share (1) Consumer Direct Market Share (1) Note: All figures are for PFSI and include volume fulfilled or subserviced for PMT (1) Historical market share based on Inside Mortgage Finance.

Inside Mortgage Finance reported $1.4 trillion in total origination vo lume for 2023. For 2023, the correspondent channel represented 28% of the overall origination market, retail represented 56%, an d broker represented 16%.

Loan servicing market share is based on PFSI’s servicing portfolio UPB of $607 billion divided by $14 .0 trillion in mortgage debt outstanding 0.7% 0.9% 1.6% 1.1% 0.6% 2019 2020 2021 2022 2023 15.3% 17.7% 16.7% 15.0% 22.2% 2019 2020 2021 2022 2023 3.3% 3.7% 4.1% 4.1% 4.3% 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 1.2% 2.1% 2.4% 2.0% 3.6% 2019 2020 2021 2022 2023 $14.0 $18.8 $21.1 $6.8 $2.8 $2.5 $20.8 $21.5 $23.6 $22.9 $23.9 $23.9 4Q22 3Q23 4Q23 PFSI Acquisitions PMT Acquisitions Total locks 11 PRODUCTION SEGMENT HIGHLIGHTS – VOLUME BY CHANNEL Broker Direct (UPB in billions) Consumer Direct (UPB in billions) January 2024 (Estimated) January 2024 (Estimated) January 2024 (Estimated) Note: Figures may not sum due to rounding (1) Includes all government - insured or guaranteed loans and certain conventional loans PMT acquires through its correspondent produ ction business; PFSI earns income from holding and selling or securitizing the loans (2) Loans fulfilled for PMT; for these loans, PFSI earns a fulfillment fee from PMT rather than income from holding and selling o r securitizing the loans (3) Includes locks related to both PFSI and PMT loan acquisitions (4) Commitments to originate mortgage loans at specified terms at period end (1) (2) (3) Correspondent (UPB in billions) $1.1 $1.3 $0.9 $1.7 $1.7 $1.6 4Q22 3Q23 4Q23 Originations Locks $1.1 $2.2 $2.2 $2.0 $3.0 $2.8 4Q22 3Q23 4Q23 Originations Locks Locks: (UPB in billions) $6.9 Locks: (UPB in billions) $1.0 Locks: (UPB in billions) $0.8 Acquisitions: (UPB in billions) $6.6 Originations: (UPB in billions) $0.6 Originations: (UPB in billions) $0.4 Committed pipeline (4) : (UPB in billions) $0.9 Committed pipeline (4) : (UPB in billions) $0.8 12 DRIVERS OF PRODUCTION SEGMENT RESULTS (1) Expected revenue net of direct origination costs at time of lock (2) Includes government - insured or guaranteed loans, as well as certain conventional loans for PFSI’s own account (3) Reflects timing of revenue and loan origination expense recognition, hedging, pricing & execution changes, and other items • Revenue per fallout adjusted lock for PFSI’s own account was 61 basis points in 4Q23, up slightly from 3Q23 • Declining mortgage interest rates drove increased levels of fallout, leading to a decline in broker direct margins • Lower margins in consumer direct driven by a higher mix of refinance loans versus closed - end second liens than in the prior quar ter; closed - end second liens have lower balances and higher margins • Production expenses (net of loan origination expense) were 8% lower than the prior quarter primarily due to lower compensatio n a ccruals related to financial performance Fallout Adjusted Locks Margin / Fulfillment Fee (bps) (1) Revenue Contribution (net of Loan origination expense) % of Production Revenue Fallout Adjusted Locks Margin / Fulfillment Fee (bps) (1) Revenue Contribution (net of Loan origination expense) % of Production Revenue Fallout Adjusted Locks Margin / Fulfillment Fee (bps) (1) Revenue Contribution (net of Loan origination expense) % of Production Revenue PFSI Correspondent (2) 14,873$ 21 30.5$ 29% 20,060$ 33 66.6$ 46% 20,728$ 34 70.3$ 47% Broker Direct 1,466 56 8.2 8% 2,267 97 22.0 15% 2,116 79 16.6 11% Consumer Direct 894 358 32.0 30% 1,065 474 50.4 35% 1,045 410 42.8 29% Other (3) n/a n/a 23.6 22% n/a n/a 1.0 1% n/a n/a 15.2 10% Total PFSI account revenues (net of Loan origination expense) 17,234$ 55 94.4$ 89% 23,392$ 60 140.0$ 96% 23,889$ 61 144.9$ 97% PMT Conventional Correspondent 6,683 18 12.2 11% 2,667 21 5.5 4% 2,162 23 4.9 3% Total Production revenues (net of Loan origination expense) 45 106.6$ 100% 56 145.6$ 100% 58 149.8$ 100% Production expenses (less Loan origination expense) 23,916$ 48 115.6$ 108% 26,059$ 46 120.4$ 83% 26,051$ 42 110.4$ 74% Production segment pretax income (4) (9.0)$ -8% 10 25.2$ 17% 15 39.4$ 26% 3Q23 4Q234Q22 PRODUCTION SEGMENT HIGHLIGHTS – BUSINESS TRENDS BY CHANNEL 13 • Pennymac remains the largest correspondent aggregator in the U.S. • Acquisitions for PFSI’s account were up 13% and lock volumes were up 4% from 3Q23 ‒ PFSI is expected to continue purchasing conventional loans acquired through PMT’s correspondent channel in 1Q24 • 812 correspondent sellers at December 31, 2023, down from 829 at September 30, 2023, primarily driven by industry consolidation • Purchase volume in 4Q23 was 93% of acquisitions • Potential for U.S. bank regulators to increase capital requirements for residential mortgages provides additional opportunities for Pennymac • Funding volumes were down 1% and lock volumes were down 7% from 3Q23 • The channel remains competitive, with margins down from the prior quarter primarily due to higher levels of fallout • Approved brokers totaled 3,815 at December 31, 2023, up 8% from September 30, 2023 and 42% from December 31, 2022, representing approximately a quarter of the total population of brokers ‒ Top brokers see Pennymac as a strong alternative to the top two channel lenders • Purchase loans were 92% of total originations • In December, launched closed - end second lien product • Funding volumes were down 35% from 3Q23 • Lower margins driven by a higher mix of refinance loans versus closed - end second liens • Focused on meeting the changing needs of the over 2.4 million customers in our servicing portfolio in a higher interest rate environment ‒ Purchase lock volume in 4Q23 was $333 million, or 21% of total locks, compared to $504 million, or 30% of total locks in 3Q23 ‒ $260 million or approximately 78% of total purchase locks sourced from our large and growing servicing portfolio ‒ $226 million of closed - end second lien mortgage loans funded in 4Q23, up from $199 million in 3Q23 C orrespondent Broker Direct C onsumer Direct Multi - channel approach provides flexibility and has proven to be a competitive advantage, supporting profitability and pricing discipline while driving growth of the servicing portfolio

$551.7 $589.4 $607.2 12/31/22 9/30/23 12/31/23 Prime owned Prime subserviced and other $589.4 $607.2 ($10.2) $28.1 At 9/30/23 Runoff Additions from loan production and MSR acquisitions At 12/31/23 SERVICING SEGMENT HIGHLIGHTS 14 • Servicing portfolio totaled $607.2 billion in UPB at December 31, 2023, up 3% Q/Q and 10% Y/Y • Production volumes more than offset prepayment activity, driving continued portfolio growth • 60+ day delinquency rates remain low • Modification and EBO loan volume decreased from the prior quarter Loan Servicing Portfolio Composition (UPB in billions) Net Portfolio Growth (UPB in billions) (1) Owned portfolio is predominantly government - insured and guaranteed loans – see Appendix slide 31 for additional details; delinqu ency data based on loan count (i.e., not UPB); CPR = Conditional Prepayment Rate (2) Represents PMT’s MSRs that we service and excludes distressed loan investments (3) UPB of completed modifications includes loss mitigation efforts associated with partial claims programs (4) Early buyouts of delinquent loans from Ginnie Mae pools during the period (5) Also includes loans sold with servicing released in connection with any asset sales by PMT (6) Includes consumer and broker direct production, government and conventional correspondent acquisitions, conventional conformi ng and jumbo loan acquisitions subserviced for PMT, and $1.4 billion of bulk MSR acquisitions (5) (6) 3Q23 4Q23 Loans serviced (in thousands) 2,376 2,430 60+ day delinquency rate - owned portfolio (1) 3.2% 3.4% 60+ day delinquency rate - sub-serviced portfolio (2) 0.6% 0.6% Actual CPR - owned portfolio (1) 6.1% 4.4% Actual CPR - sub-serviced (2) 5.0% 3.8% UPB of completed modifications ($ in millions) (3) $3,321 $3,275 EBO loan volume ($ in millions) (4) $476 $391 Selected Operational Metrics SERVICING PROFITABILITY 15 • Loan servicing fees increased from the prior quarter due to growth in the owned portfolio; operating expenses declined primar ily due to lower compensation accruals related to financial performance • Earnings on custodial balances and deposits decreased $10 million from the prior quarter due to a decline in balances as a re sul t of seasonal property tax payments – Custodial funds managed for PFSI’s owned servicing portfolio totaled $3.7 billion at December 31, 2023 down from $5.3 billion at September 30, 2023 – Earnings rate generally fluctuates with changes in the Federal Funds rate • Realization of MSR cash flows decreased $14 million from the prior quarter due to higher average interest rates for most of t he quarter • Interest expense increased $10 million from the prior quarter due to higher average balances of debt outstanding • Accrual for arbitration result of $158 million included in the servicing segment (1) Of average portfolio UPB, annualized (2) Comprised of net gains on mortgage loans held for sale at fair value and interest income related to EBO loans (3) Consists of interest shortfall and recording and release fees (4) Changes in fair value do not include realization of MSR cash flows (5) Considered in the assessment of MSR fair value changes $ in millions basis points (1) $ in millions basis points (1) $ in millions basis points (1) Loan servicing fees 321.9$ 23.6 387.9$ 26.7 402.5$ 26.9 Earnings on custodial balances and deposits and other income 60.8 4.5 99.4 6.8 89.9 6.0 Realization of MSR cash flows (148.8) (10.9) (177.8) (12.2) (164.3) (11.0) EBO loan-related revenue (2) 21.9 1.6 29.0 2.0 28.3 1.9 Servicing expenses: Operating expenses (93.8) (6.9) (111.2) (7.6) (93.6) (6.3) Payoff-related expense (3) (9.0) (0.7) (9.4) (0.6) (7.1) (0.5) Losses and provisions for defaulted loans (14.1) (1.0) (10.3) (0.7) (13.2) (0.9) EBO loan transaction-related expense (0.1) (0.0) (0.2) (0.0) (0.3) (0.0) Interest expense (59.7) (4.4) (87.5) (6.0) (97.8) (6.5) Pretax income excluding fair value changes and arbitration accrual 79.1$ 5.8 120.0$ 8.2 144.4$ 9.6 Valuation-related changes MSR fair value (4) 82.6 398.9 (370.7) Hedging derivatives gains (losses) (72.9) (423.7) 294.8 Provision for losses on active loans (5) (13.2) 6.0 (5.7) Servicing segment pretax income excluding arbitration accrual 75.6$ 101.2$ 62.8$ Accrual for arbitration ruling Arbitration accrual 0.0 0.0 (158.4) Servicing segement pretax income (loss) 75.6$ 101.2$ (95.5)$ Average servicing portfolio UPB 545,367$ 582,262$ 599,153$ 4Q22 4Q233Q23 16 HEDGING APPROACH MODERATES THE VOLATILITY OF PFSI’S RESULTS MSR Valuation Changes and Offsets ($ in millions) • PFSI seeks to moderate the impact of interest rate changes on the fair value of its MSR asset through a comprehensive hedging strategy that also considers production - related income • In 4Q23, MSR fair value decreased – Decline in mortgage rates increased future prepayment projections • Hedging results offset approximately 80% of the MSR value decline $83 $399 ($371) ($73) ($424) $295 ($9) $25 $39 4Q22 3Q23 4Q23 MSR fair value change before realization of cash flows Hedging and related losses Production pretax income

APPENDIX

INVESTMENT MANAGEMENT SEGMENT HIGHLIGHTS 17 • Net AUM as of December 31, 2023 were $2.0 billion, essentially unchanged from September 30, 2023 and December 31, 2022 • Investment Management segment revenues were $9.7 million, up 10% from 3Q23 and down 2% from 4Q22 Investment Management AUM ($ in billions) Investment Management Revenues ($ in millions) $2.0 $1.9 $2.0 12/31/22 9/30/23 12/31/23 $9.9 $8.8 $9.7 4Q22 3Q23 4Q23 6% 32% 48% Requirement PLS RBCR PLS Leverage Ratio $544 $1,244 Requirement PLS $390 $1,684 Requirement PLS PennyMac Loan Services, LLC (PLS), the entity at which Federal Housing Finance Agency (FHFA) and Ginnie Mae (GNMA) eligibility standards are applicable, is a wholly - owned subsidiary of PFSI and is approved as a seller/servicer of mortgage loans by Fannie Mae and Fr eddie Mac and as an issuer of securities guaranteed by Ginnie Mae PFSI IS WELL IN EXCESS OF REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS 19 GNMA Eligibility Requirements FHFA Eligibility Requirements Capital Liquidity Capital Ratios (1) Risk - based Capital Ratio; GNMA has extended the mandatory implementation date of the RBC requirement to December 31, 2024 As of December 31, 2023 (in millions) (1) $1,315 $6,559 Requirement PLS 6% 37% Requirement PLS $1,211 $6,890 Requirement PLS 20 ESTABLISHED LEADER WITH SUBSTANTIAL LONG - TERM GROWTH POTENTIAL $607 billion outstanding IN SER VIC ING (2) YEARS FOR PFSI AS A PUBLIC COMPANY 16 YEARS OF OPERATIONS PMT # 2 • CORRESPONDENT PRODUCTION • BROKER DIRECT • CONSUMER DIRECT IN PRODUCTION (1) IS A LEADING RESIDENTIAL MORTGAGE REIT # 5 Note: All figures are for PFSI and include volume fulfilled or subserviced for PMT; all figures are as of 12/31/23 unless oth erw ise noted (1) Inside Mortgage Finance for the 12 months ended 12/31/23 (2) Inside Mortgage Finance as of 9/30/23 $ 2.0 billion in assets under management 14 - year track record 2.4 million customers $99 billion in 2023 10

OVERVIEW OF PENNYMAC FINANCIAL’S BUSINESSES 21 LOAN PRODUCTION Correspondent aggregation of newly originated loans from third - party sellers Fulfillment fees for PMT’s delegated conventional loans PFSI earns gains on all loan production with the exception of loans fulfilled for PMT Broker direct and consumer direct origination of conventional and government - insured loans LOAN SERVICING Servicing for owned MSRs and subservicing for MSRs owned by PMT Major loan servicer for Fannie Mae, Freddie Mac and Ginnie Mae Industry - leading capabilities in special servicing Organic growth results from loan production, supplemented by MSR acquisitions and PMT investment activity INVESTMENT MANAGEMENT External manager of PMT, which invests in mortgage - related assets: GSE credit risk transfer investments MSR investments Investments in agency MBS, senior non - agency MBS and asset - backed securities Synergistic partnership with PMT Complex and highly regulated mortgage industry requires effective governance, compliance and operating systems Operating platform has been developed organically and is highly scalable Commitment to strong corporate governance, compliance and risk management since inception PFSI is well - positioned to navigate the current market and regulatory environment 22 PFSI’S BALANCED BUSINESS MODEL IS A FLYWHEEL • Diversified business through correspondent, broker direct and consumer direct channels • Correspondent and broker direct channels in particular allow PFSI to access purchase - money volume • Lacks the fixed overhead of the traditional, retail origination model • Recurring fee income business captured over the life of the loan • With higher interest rates, expected life of the loan increases resulting in a more valuable MSR asset • Creates a natural hedge to production income Customer base over 2.4 million drives leads for consumer direct Large volumes of production grow servicing portfolio Loan Production 2 nd largest in the U.S. (1) Loan Servicing 5 th largest in the U.S. (2) In both businesses, scale and efficiency are critical for success Note: All figures are for PFSI and include volume fulfilled or subserviced for PMT (1) Inside Mortgage Finance for the 12 months ended 12/31/23 (2) Inside Mortgage Finance as of 9/30/23

TOP LENDER WITH COMPREHENSIVE AND EFFICIENT MULTI - CHANNEL PLATFORM 23 Centralized, cost - efficient fulfillment division supports all channels Multiple access points to the origination market with a proven ability to allocate resources towards channels with opportunity in the current environment Significant and ongoing investments in mortgage - banking technology provide an exceptional loan o rigination experience for our customers and business partners Scalable technology platform providing our consumers , brokers and correspondent partners with the liquidity, tools and products they need to succeed 2 producer of residential mortgage loans in 20 23 (1) (1) Inside Mortgage Finance; includes volumes fulfilled for PMT # Strong access to purchase market Drives organic servicing portfolio growth Strong access to purchase market Positive and consistent execution for brokers Internet and call - center based Cost - efficient leads from our large servicing portfolio Correspondent Broker Direct Consumer Direct 23 • Offering title insurance to customers through joint ventures • Evaluating additional partnerships and revenue opportunities 24 • $ 1.5 b illion in revenue from servicing and sub - servicing fees in 2023 • Large deposit balances drive placement fee income in higher rate environment • Cloud - based servicing system built for Pennymac’s unique needs • Operational and cost efficiencies, as well as increased flexibility • Drives efficient lead generation for consumer direct • Refinances, purchase originations, second liens, new products • Loss mitigation expertise to assist consumers and minimize losses • Enhanced by flexible and proprietary servicing technology BENEFITS AND VALUE OF LARGE AND GROWING SERVICING PORTFOLIO SERVICING PORTFOLIO Recurring Cash Flows Proprietary Technology Consumer Direct Opportunities Loss Mitigation Ancillary Products and Services 2.4M customers $607B unpaid principal balance

11% 19% 20% 22% 26% 13% 22% 61% 29% 14% 4% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 PFSI's Annualized Return on Average Common Stockholders' Equity (ROE) Average: 22% $1.8 $1.3 $1.7 $2.1 $1.8 $1.6 $2.3 $4.1 $4.4 $2.3 $1.4 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 U.S. Origination Market (in trillions) 48% 75% 64% 61% 73% 80% 63% 40% 45% 73% 90% 40% 58% 53% 49% 63% 71% 54% 36% 42% 69% 85% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 PFSI Purchase Mix Industry Purchase Mix 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 10-Year Treasury Yield Proven ability to generate attractive ROEs… 25 TRACK RECORD OF STRONG PERFORMANCE ACROSS MARKET ENVIRONMENTS …across different market environments… …with a strong orientation towards purchase money mortgages. (1) Represents partial year ; in itial public o ffering was May 8, 2013 (2) Adjusted return on equity was 7% excluding arbitration accrual of $158 million and related tax impact (3) Inside Mortgage Finance (4) Bloomberg (5) Inside Mortgage Finance for historical data; industry purchase mix for 4Q23 represents the average of Mortgage Bankers Association (1/19/24) and Fannie Mae (1/10/24) forecasts (1) (3) (4) (5) (2)

20% 10% 18% 20% 18% 22% 19% 21% 27% 24% 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 Tangible Net Worth / Assets ex. Loans eligible for repurchase Tangible Net Worth / Assets 0.8x 0.6x 0.9x 1.1x 1.3x 3.0x 3.6x 3.2x 2.0x 2.4x 12/31/2019 12/31/2020 12/31/2021 12/31/22 12/31/23 Non-funding debt-to-equity Total debt-to-equity MSR & Servicing Advance Financing PFSI’S STRONG BALANCE SHEET AND DIVERSE CAPITAL STRUCTURES 26 Low Debt - to - Equity Ratio Diverse Financing Sources High TNW (2) /Assets • Tangible net worth (TNW) / assets excluding loans eligible for repurchase has de creased driven by an increase in balances of loans held for sale at fair value • Targeted debt - to - equity ratio near or below 3.5x with fluctuations largely driven by the origination environment or other market opportunities • Low non - funding debt - to - equity ratio • U nsecured senior notes provide low, fixed interest rates; first maturity in October 2025 • Issued 5 - year $125 million term loan secured by Ginnie Mae MSR and servicing advances • Issued 6 - year $750 million unsecured s enior notes • Redeemed $650 million of GNMA MSR term notes due February 2025 and $225 million due August 2025 • Secured revolving bank financing lines provide flexibility to finance fluctuating MSR and advance balances Note: All figures are as of December 31, 2023 (1) Non - funding debt includes face value of unsecured senior notes and notes payable secured by MSR, in addition to the amount draw n on the variable funding note (2) Tangible net worth excludes capitalized software $650mm | 2025 $425mm | 2025 $400mm drawn $500mm | 2027 $650mm | 2029 Financing capacity across multiple banks $750mm | 2029 $680mm | 2028 $500mm | 2031 $125mm | 2028 $2,550mm $1,730mm $3,300mm Unsecured Senior Notes Secured Term Notes and Loans Secured Revolving Bank Financing Lines (1)

DEVELOPED IN A SUSTAINABLE MANNER FOR LONG - TERM SUCCESS 27 • Operations launched • PMT initial public offering • Launched correspondent group • PFSI initial public offering • Significant growth in servicing portfolio and consumer direct channel • Launched broker - direct lending channel • Launched proprietary servicing system • Elevated volumes and profitability in low interest rate environment • Significant growth in stockholders’ equity • A leader in mortgage production and servicing • Continued profitability through market challenges • Rapidly increasing mortgage rates • PFSI produces double - digit ROE despite adverse market conditions 2008 - 2012 2013 - 2016 2017 - 2019 2020 - 2021 2022 2023 Average 30 - year fixed rate mortgage (1) 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 7.31% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 4.57% CURRENT MARKET ENVIRONMENT AND MACROECONOMIC TRENDS 28 Macroeconomic Metrics (3) Footnotes (1) Freddie Mac Primary Mortgage Market Survey . 6.69% as of 1/25/24 (2) U.S. Department of the Treasury. 4.12% as of 1/25/24 (3) 10 - year Treasury bond yield and 2/10 year Treasury yield spread: Bloomberg Average 30 - year fixed rate mortgage: Freddie Mac Primary Mortgage Market Survey Average secondary mortgage rate: 30 - Year FNCL Par Coupon Index (MTGEFNCL), Bloomberg U.S. home price appreciation: S&P CoreLogic Case - Shiller U.S. National Home Price NSA Index (SPCSUSA); data is as of 10/31/23 Residential mortgage originations are for the quarterly period ended; source: Inside Mortgage Finance 10 - year Treasury Bond Yield (2) 3.88% 6.61% 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 10-year Treasury bond yield 3.9% 3.5% 3.8% 4.6% 3.9% 2/10 year Treasury yield spread -0.6% -0.6% -1.1% -0.5% -0.4% 30-year fixed rate mortgage 6.4% 6.3% 6.7% 7.3% 6.6% Secondary mortgage rate 5.4% 5.0% 5.6% 6.4% 5.3% U.S.

home price appreciation (Y/Y % change) 5.7% 0.8% 0.0% 4.0% 4.8% Residential mortgage originations (in billions) $350 $295 $400 $385 $300 29 MSR ASSET VALUATION (1) Excludes loans held for sale at fair value Mortgage Servicing Rights Pool UPB (1) $370,244 Weighted average coupon 4.1% Weighted average servicing fee/spread 0.38% Weighted average prepayment speed assumption (CPR) 8.3% Fair value $7,099 As a multiple of servicing fee 5.03 December 31, 2023 Unaudited ($ in millions)

• Overall mortgage delinquency rates increased slightly from the prior quarter but remain low • Servicing advances outstanding for PFSI’s MSR portfolio increased to approximately $505 million at December 31, 2023 from $32 1 million at September 30, 2023 due to seasonal property tax payments – No principal and interest advances are outstanding DELINQUENCY TRENDS AND SERVICING ADVANCES OUTSTANDING 30 Historical Trends in Delinquency and Foreclosure Rates (1) (1) Owned MSR portfolio and includes loans held for sale at fair value; delinquency and foreclosure rates based on UPB; as of 12/ 31/ 23, the UPB of mortgage servicing rights owned and loans held for sale at fair value totaled $375 billion 6.7% 15.4% 14.0% 12.0% 9.5% 8.0% 7.2% 5.8% 5.0% 5.0% 5.5% 6.1% 5.4% 5.6% 5.7% 5.9% 3/31/20 6/30/20 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 12/31/21 3/31/22 6/30/22 9/30/22 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 30-60 Days 60-90 Days 90+ Days In Foreclosure 31 PFSI’S OWNED MSR PORTFOLIO CHARACTERISTICS Note: Figures may not sum due to rounding (1) Government loans include loans securitized in Ginnie Mae pools as well as loans sold to private investors (2) Other represents MSRs collateralized by conventional loans sold to private investors (3) Excludes loans held for sale at fair value As of December 31, 2023 Segment UPB ($ in billions) (3) % of Total UPB Loan count (in thousands) Note rate Seasoning (months) Remaining maturity (months) Loan size ($ in thousands) FICO credit score at origination Original LTV Current LTV 60+ Delinquency (by UPB) Government (1) FHA $132.6 35.8% 659 4.2% 44 319 $201 676 93% 67% 5.1% VA $122.9 33.2% 449 3.6% 32 326 $274 727 90% 71% 2.1% USDA $21.0 5.7% 142 3.8% 51 312 $148 698 98% 66% 5.2% GSE FNMA $42.6 11.5% 141 4.5% 24 316 $302 761 73% 61% 0.5% FHLMC $48.3 13.0% 157 4.7% 19 323 $307 756 74% 64% 0.5% Other (2) Other $2.5 0.7% 7 6.3% 10 348 $345 767 72% 68% 0.1% Closed-End Seconds Closed-End Seconds $0.4 0.1% 5 10.1% 6 255 $75 746 17% 17% 0.1% Grand Total $370.3 100.0% 1,560 4.1% 35 321 $237 715 87% 67% 2.9%

ACQUISITIONS AND ORIGINATIONS BY PRODUCT 32 Note: Figures may not sum due to rounding Unaudited ($ in millions) 4Q22 1Q23 2Q23 3Q23 4Q23 Correspondent Acquisitions Conventional Conforming - for PMT 6,771$ 6,629$ 3,029$ 2,759$ 2,477$ Conventional Conforming - for PFSI 3,912 4,063 7,018 9,933 10,129 Government - for PFSI 10,081 9,461 11,139 8,848 11,011 Jumbo - for PMT - - - 1 3 Total 20,764$ 20,153$ 21,186$ 21,541$ 23,620$ Broker Direct Originations - for PFSI Conventional Conforming 758$ 1,097$ 1,436$ 1,591$ 1,560$ Government 362 441 685 621 623 Jumbo 7 28 19 10 18 Closed-end second liens - - - - - Total 1,126$ 1,565$ 2,140$ 2,223$ 2,201$ Consumer Direct Originations - for PFSI Conventional Conforming 489$ 365$ 400$ 378$ 264$ Government 572 611 1,028 741 372 Jumbo 4 - 4 3 2 Closed-end second liens 45 81 122 199 226 Total 1,110$ 1,057$ 1,553$ 1,322$ 864$ Total acquisitions/originations 23,000$ 22,775$ 24,879$ 25,085$ 26,685$ UPB of loans fulfilled for PMT (included in correspondent acquisitions) 6,771$ 6,629$ 3,029$ 2,760$ 2,480$ INTEREST RATE LOCKS BY PRODUCT 33 Note: Figures may not sum due to rounding Unaudited ($ in millions) 4Q22 1Q23 2Q23 3Q23 4Q23 Correspondent Locks Conventional Conforming - for PMT 7,507$ 7,588$ 3,322$ 3,493$ 2,737$ Conventional Conforming - for PFSI 4,747 3,781 7,523 10,333 9,977 Government - for PFSI 10,681 10,341 10,735 10,063 11,197 Jumbo - for PMT 7 - - 2 5 Total 22,941$ 21,709$ 21,581$ 23,891$ 23,916$ Broker Direct Locks - for PFSI Conventional Conforming 1,338$ 1,716$ 1,869$ 2,146$ 1,910$ Government 656 777 921 828 844 Jumbo 20 59 32 15 30 Closed-end second liens - - - - 3 Total 2,014$ 2,552$ 2,822$ 2,989$ 2,787$ Consumer Direct Locks - for PFSI Conventional Conforming 700$ 628$ 575$ 559$ 371$ Government 885 1,410 1,383 817 887 Jumbo 6 9 2 5 3 Closed-end second liens 93 152 205 326 335 Total 1,684$ 2,199$ 2,166$ 1,707$ 1,597$ Total locks 26,639$ 26,459$ 26,568$ 28,586$ 28,300$

4Q22 1Q23 2Q23 3Q23 4Q23 4Q22 1Q23 2Q23 3Q23 4Q23 Government-insured 690 709 715 712 714 Government-insured 46 45 45 45 46 Conventional 756 757 762 762 762 Conventional 39 39 38 38 39 4Q22 1Q23 2Q23 3Q23 4Q23 4Q22 1Q23 2Q23 3Q23 4Q23 Government-insured 676 701 712 711 715 Government-insured 46 46 45 46 47 Conventional 756 757 761 761 763 Conventional 38 38 38 39 39 4Q22 1Q23 2Q23 3Q23 4Q23 4Q22 1Q23 2Q23 3Q23 4Q23 Government-insured 680 663 661 683 674 Government-insured 44 44 44 45 45 Conventional 728 734 744 743 747 Conventional 38 38 37 38 38 Weighted Average FICO Weighted Average DTI Weighted Average FICO Weighted Average DTI Weighted Average FICO Weighted Average DTI CREDIT CHARACTERISTICS BY ACQUISITION/ORIGINATION PERIOD 34 Correspondent Broker Direct Consumer Direct ADJUSTED EBITDA RECONCILED TO NET INCOME 35 Note: Figures may not sum due to rounding ($ in millions) 4Q22 3Q23 4Q23 Net income (loss) 37.6$ 92.9$ (36.8)$ Provision for (benefit from) income taxes 30.1 33.9 (17.4) Income (loss) before provisions for income taxes 67.7 126.8 (54.2) Depreciation and amortization 10.6 13.2 14.1 (Increase) decrease in fair value of MSRs and MSLs due to changed in valuation inputs used in the valuation model (82.6) (398.9) 370.7 Hedging losses (gains) associated with MSRs 72.9 423.7 (294.8) Stock-based compensation 11.9 8.8 6.7 Non-recurring item - accrual for arbitration result - - 158.4 Interest expense on corporate debt and capital lease 23.9 23.9 27.3 Adjusted EBITDA 104.4$ 197.5$ 228.2$

PRETAX INCOME (LOSS) RECONCILED TO OPERATING NET INCOME 36 Note: Figures may not sum due to rounding (1) Assumes a tax rate of 26.85% ($ in millions) 1Q23 2Q23 3Q23 4Q23 Income (loss) before provision for (benefit from) income taxes $ 38.1 $ 72.9 $ 126.8 $ (54.2) Decrease (increase) in fair value of MSRs and MSLs due to changes in valuation inputs used in the valuation model 90.3 (118.9) (398.9) 370.7 Hedging (gains) losses associated with MSRs (47.2) 155.1 423.7 (294.8) Non-recurring item - accrual for arbitration result - - - 158.4 Operating pretax income $ 81.2 $ 109.1 $ 151.6 $ 180.1 Tax expense (1) 21.8 29.3 40.7 48.3 Operating net income $ 59.4 $ 79.8 $ 110.9 $ 131.7 Average stockholders' equity $ 3,463 $ 3,441 $ 3,517 $ 3,555 Annualized operating return on equity 7% 9% 13% 15%