Two Harbors Investment Corp. AnnouncesSecond Quarter 2018 Common and Preferred Stock Dividends

Harbors Investment Corp. (NYSE: TWO), a leading hybrid
mortgage real estate investment trust, today declared a quarterly
dividend of $0.47 per share of common stock for the second quarter of
2018. This dividend is payable on July 27, 2018 to common stockholders
of record at the close of business on June 29, 2018.

Two Harbors distributes common stock dividends based on its current
estimate of taxable earnings per common share, not GAAP earnings.
Taxable and GAAP earnings are expected to differ principally because of
differences in discount accretion and premium amortization, certain
non-taxable unrealized and realized gain and losses on derivatives, and
non-deductible general and administrative expenses.

Preferred Stock Dividends

Two Harbors also declared today the following preferred stock dividends:

Each of the foregoing preferred dividends is payable on July 27, 2018 to
the applicable preferred stockholders of record at the close of business
on July 12, 2018.

Two Harbors Investment Corp.

Two Harbors Investment Corp., a Maryland corporation, is a real estate
investment trust that invests in residential mortgage-backed securities,
mortgage servicing rights and other financial assets. Two Harbors is
headquartered in New York, New York, and is externally managed and
advised by PRCM Advisers LLC, a wholly owned subsidiary of Pine River
Capital Management L.P. Additional information is available at www.twoharborsinvestment.com.

Additional Information

Stockholders of Two Harbors and other interested persons may find
additional information regarding the company at the Securities and
Exchange Commission’s Internet site at www.sec.gov
or by directing requests to: Two Harbors Investment Corp., 575 Lexington
Avenue, Suite 2930, New York, NY 10022, telephone 612-629-2500.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180619006409/en/