PennyMac Financial Services Investor Presentation — November 2021

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PENNYMAC FINANCIAL SERVICES, INC.

3Q21 EARNINGS REPORT

November 2021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, the Company’s financial results, future operation s, 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. Thes e forward -looking statements include, but are not limited to,

statements regarding the future impact of the COVID -19 pandemic on our business; future loan origination, servicing and producti on; future loan delinquencies, forbearances and

servicing advances; future early buyout activity; future changes in asset values 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: our exposure to risks of loss and disru ptions 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 buyou t loans; changes in prevailing interest rates; the

continually changing federal, state and local laws and regulations applicable to the highly regulated industry in which we op erate; 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 regulat ions 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 jurisdic tions applicable to the Company’s businesses, 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

growing loan production volume; difficulties inherent in adjusting the size of our operations to reflect changes in business lev els; purchase opportunities for mortgage servicing rights and