PennyMac Financial Services Investor Presentation — August 2022

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2Q22 EARNINGS REPORT

PennyMac Financial Services, Inc.

August 20222This 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 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 expression s 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 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 the future changes in interest rates and prepayment rates; the

impact of the COVID -19 pandemic; future loan origination, servicing and production, including future production and operating e xpenses; future loan delinquencies and forbearances; future early

buyout loans; future custodial balance earnings; future earnings and return on equity as well as other business and financial expectations. Factors which could cause actual results to differ materially

from historical results or those anticipated include, but are not limited to: changes in prevailing interest rates; our expos ureto risks of loss and disruptions in operations resulting from adverse

weather conditions, man- made or natural disasters, climate change and pandemics such as COVID -19; the continually changing feder al, 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 businesses; the mortgage lending

and servicing -related regulations promulgated by the Consumer Financial Protection Bureau and its enforcement of these regulatio ns; our dependence on U.S. government -sponsored entities and

changes in their current roles or their guarantees or guidelines; changes to government mortgage modification programs; the lice nsing 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 prac tices; 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 opp ortunities for mortgage servicing rights and our success in winning bids; our