PennyMac Financial Services Investor Presentation — May 2022

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1Q22 EARNINGS REPORT

PennyMac Financial Services, Inc.

May 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 impact of interest rates and the COVID -19 pandemic

on our business; future loan origination, servicing and production; future loan delinquencies, forbearances and servicing adv ances; future early buyout activity and 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 exposure

to 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; failure to modify, resell or

refinance early buyout loans; 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 businesses; the mortgage lending and s ervicing -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; changes to

government mortgage modification programs; the licensing and operational requirements of states and other jurisdictions applicab le 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; dif ficulties 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 substantia l amount of indebtedness; the discontinuation of LIBOR; increases in