Tax

Annaly Capital Management·Income Statement·45 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Income Tax at U.S. Statutory Rate	$0.2	$0.2	—	$0.2	$0.2	$0.2	$429.3M	$60.7M
Tax Reconciliation, Federal Statutory Amount	$0.2	$0.2	—	$0.2	$0.2	$0.2	$429.3M	$60.7M
Tax Reconciliation: Other Adjustments	—	—	—	-$8.9M	-$8.9M	-$8.9M	-$8.9M	-$30.5M
Deferred Income Tax Expense (Benefit)	$11.9M	-$6.2M	$9.4M	$8.3M	$440K	-$7.8M	-$7.8M	-$3.1M
Deferred Federal Tax Expense	$10.4M	-$5.4M	$8.3M	$7.2M	$385K	-$6.9M	-$7.1M	-$2.8M
Current income tax expense (benefit)	$13K	$28K	$970K	$13K	$0	$20K	$11K	$1.6M
Current Income Tax Expense	$13K	$28K	$970K	$13K	$0	$20K	$11K	$1.6M
Income tax expense	$11.9M	-$6.1M	$10.4M	$8.3M	$440K	-$7.8M	-$7.8M	-$1.5M
Current Federal Tax Expense	$0	$0	$771K	$0	$0	$20K	-$151K	$1.4M
Tax Reconciliation: Nondeductible Expenses	—	—	—	—	—	—	—	$525K
Deferred State and Local Tax Expense	$1.5M	-$770K	$1.2M	$1M	$55K	-$981K	-$707K	-$268K
State and Local Income Taxes, Net	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State Tax Expense	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State and Local Tax Expense (Benefit)	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State and Local Tax Expense	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State and Local Tax Expense (Benefit)	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State and Local Tax Expense	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State and Local Tax Expense (Benefit)	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State and Local Tax Expense (Benefit)	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Current State and Local Tax Expense	$13K	$28K	$199K	$13K	$0	$0	$162K	$173K
Effective Tax Rate Statutory Reconciliation	$0.2	$0.2	—	$0.2	$0.2	$0.2	—	$0.2
Tax Reconciliation at Federal Statutory Rate	$0.2	$0.2	—	$0.2	$0.2	$0.2	—	$0.2
Tax Reconciliation - Federal Statutory Rate	$0.2	$0.2	—	$0.2	$0.2	$0.2	—	$0.2
Statutory Federal Income Tax Rate	$0.2	$0.2	—	$0.2	$0.2	$0.2	—	$0.2
Tax Reconciliation Federal Statutory Rate	$0.2	$0.2	—	$0.2	$0.2	$0.2	—	$0.2
Tax Reconciliation - Tax Exempt Income	-258.9%	3.2%	22.5%	14.6%	8.8%	22.6%	19.4%	11.1%
Tax Reconciliation: Other Adjustments	102.2%	-28.9%	0.0%	-3.5%	-14.5%	-2.4%	-1.7%	-10.6%
Tax Reconciliation, Other Items	$1	-$0.3	$0	-$0	-$0.1	-$0	—	-$0.1
Tax Reconciliation Other Adjustments	$1	-$0.3	$0	-$0	-$0.1	-$0	—	-$0.1
Effective Tax Rate (Continuing Operations)	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate, Continuing Operations	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Income Tax Rate, Continuing Operations	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate (Continuing Operations)	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate (Continuing Operations)	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate (Continuing Operations)	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Income Tax Rate	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate, Continuing Operations	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Effective Tax Rate Continuing Operations	$3.9	-$0.1	$0	$0.1	$0	-$0	-$0	-$0
Tax Reconciliation: Change in Valuation Allowance	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Tax Reconciliation, State and Local Taxes	$0	$0	—	$0	$0	$0	-$0	$0
Tax Reconciliation, Valuation Allowance Change	—	—	—	$0	$0	$0	$0	$0
Change in Tax Valuation Allowance	—	—	—	$0	$0	$0	$0	$0
Tax Reconciliation State and Local Taxes	$0	$0	—	$0	$0	$0	-$0	$0

Metrics

Tax

Breakdown

Metrics

Effective Tax Rate Statutory Reconciliation

Effective Tax Rate (Continuing Operations)

Effective Tax Rate

Current income tax expense (benefit)

Effective Tax Rate, Continuing Operations

Income Tax at U.S. Statutory Rate

State and Local Income Taxes, Net

Tax Reconciliation: Other Adjustments

Tax Reconciliation: Change in Valuation Allowance

Current State Tax Expense

Effective Income Tax Rate, Continuing Operations

Tax Reconciliation, Federal Statutory Amount

Tax Reconciliation, Other Items

Tax Reconciliation, State and Local Taxes

Tax Reconciliation, Valuation Allowance Change

Effective Tax Rate

Current State and Local Tax Expense (Benefit)

Effective Tax Rate (Continuing Operations)

Current State and Local Tax Expense

Income tax expense

Effective Tax Rate (Continuing Operations)

Tax Reconciliation at Federal Statutory Rate

Current Income Tax Expense

Current State and Local Tax Expense (Benefit)

Tax Reconciliation - Federal Statutory Rate

Tax Reconciliation - Tax Exempt Income

Current Federal Tax Expense

Current State and Local Tax Expense

Deferred Federal Tax Expense

Deferred Income Tax Expense (Benefit)

Deferred State and Local Tax Expense

Effective Tax Rate (Continuing Operations)

Effective Income Tax Rate

Statutory Federal Income Tax Rate

Tax Reconciliation: Nondeductible Expenses

Tax Reconciliation: Other Adjustments

Change in Tax Valuation Allowance

Current State and Local Tax Expense (Benefit)

Effective Tax Rate, Continuing Operations

Current State and Local Tax Expense (Benefit)

Current State and Local Tax Expense

Effective Tax Rate Continuing Operations

Tax Reconciliation Federal Statutory Rate

Tax Reconciliation Other Adjustments

Tax Reconciliation State and Local Taxes