New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT” or the “Company”) today announced that its Board of Directors (the “Board”) authorized the upsize of its previously announced common stock repurchase program such that common stock having an aggregate value of $200 million remains available for repurchase after giving effect to the upsize.

As of March 14, 2023, the Company had repurchased approximately $46 million of the $200 million of common stock originally authorized for repurchase under the common stock repurchase program. The upsize announced today brings the total size of the common stock repurchase program to $246 million. All other terms of the Company’s common stock repurchase program remain unchanged.

In addition, the Board authorized a preferred stock repurchase program under which the Company may repurchase up to $100 million of the Company’s preferred stock, which includes the Company’s 8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, and 7.000% Series G Cumulative Redeemable Preferred Stock.

The preferred stock repurchase program does not require the purchase of any minimum number of shares. Acquisitions under the preferred stock repurchase program may be made in the open market, through privately negotiated transactions or block trades or other means, in accordance with applicable securities laws. The timing and extent to which the Company repurchases shares of its preferred stock will depend upon, among other things, market conditions, share price, liquidity, regulatory requirements and other factors, and repurchases may be commenced or suspended at any time without prior notice. The Company expects to fund any preferred stock repurchases through current liquidity.