PennyMac Financial Services Investor Presentation — October 2022

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3Q22 EARNINGS REPORT

PennyMac Financial Services, Inc.

October 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 interest rate, housing and prepayment rates changes;

the impact of the COVID -19 pandemic; future loan origination, servicing and production, including future production and operating expenses; 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: interest rate changes; 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; 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 op erate; 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 p romulgated 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 the ir guarantees or guidelines; changes to government mortgage

modification programs; the licensing and operational requirements of states and other jurisdictions applicable to our busines s, 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 a djusting the size of our operations to reflect changes in business levels;