ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (dollars in thousands, except per share data) December 31, December 31, 2023 2022 Assets Cash and cash equivalents (includes pledged assets of $1,136,298 and $1,424,160, respectively) (1) $ 1,412,148 $ 1,576,714 Securities (includes pledged assets of $65,400,248 and $60,660,121, respectively) (2) 69,613,565 65,789,907 Loans, net (includes pledged assets of $2,082,419 and $1,653,464, respectively) (3) 2,353,084 1,809,832 Mortgage servicing rights (includes pledged assets of $1,781,279 and $684,703, respectively) 2,122,196 1,748,209 Assets transferred or pledged to securitization vehicles 13,307,622 9,121,912 Derivative assets 162,557 342,064 Receivable for unsettled trades 2,710,224 575,091 Principal and interest receivable 1,222,705 637,301 Intangible assets, net 12,106 16,679 Other assets 311,029 233,003 Total assets $ 93,227,236 $ 81,850,712 Liabilities and stockholders’ equity Liabilities Repurchase agreements $ 62,201,543 $ 59,512,597 Other secured financing 500,000 250,000 Debt issued by securitization vehicles 11,600,338 7,744,160 Participations issued 1,103,835 800,849 U.S. Treasury securities sold, not yet purchased 2,132,751 — Derivative liabilities 302,295 204,172 Payable for unsettled trades 3,249,389 1,157,846 Interest payable 287,937 325,280 Dividends payable 325,052 412,113 Other liabilities 179,005 74,269 Total liabilities 81,882,145 70,481,286 Stockholders’ equity Preferred stock, par value $0.01 per share, 63,500,000 authorized, issued and outstanding 1,536,569 1,536,569 Common stock, par value $0.01 per share, 1,468,250,000 and 2,936,500,000 authorized, 500,080,287 and 468,309,810 issued and outstanding, respectively 5,001 4,683 Additional paid-in capital 23,672,391 22,981,320 Accumulated other comprehensive income (loss) (1,335,400) (3,708,896) Accumulated deficit (12,622,768) (9,543,233) Total stockholders’ equity 11,255,793 11,270,443 Noncontrolling interests 89,298 98,983 Total equity 11,345,091 11,369,426 Total liabilities and equity $ 93,227,236 $ 81,850,712 (1) Includes cash of consolidated Variable Interest Entities (“VIEs”) of $2.0 million and $2.2 million at December 31, 2023 and 2022, respectively. (2) Excludes $1.5 billion and $1.0 billion at December 31, 2023 and 2022, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition. (3) Includes $1.2 million and $1.3 million of residential mortgage loans held for sale at December 31, 2023 and 2022, respectively. See notes to consolidated financial statements. ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIES Financial Statements F-3
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