Two Harbors Investment Corp.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Departure of Certain Officers On September 4, 2026, each of William Dellal, Vice President, Chief Financial Officer; Nicholas Letica, Vice President and Chief Investment Officer; Rebecca Sandberg, Vice President, Chief Legal Officer, Secretary and Chief Compliance Officer; Robert Rush, Vice President and Chief Risk Officer; and Alecia Hanson, Vice President and Chief Administrative Officer terminated employment with Two Harbors Investment Corp. (“TWO”), effective immediately. William Greenberg will continue to serve as TWO’s Chief Executive Officer until October 2, 2026, on which date his employment is expected to terminate. Each of the foregoing officers’ departures constitutes (or in the case of Mr. Greenberg, is expected to constitute) a “Qualifying Termination” during a “Change of Control Period” for purposes of the Two Harbors Investment Corp. Severance Benefits Plan, as amended and restated effective December 16, 2025 (the “Plan”). Each such officer has entered or is expected to enter into a customary separation and release agreement containing a general release of claims in favor of TWO, and otherwise memorializing the compensation and benefits that such officer will receive in connection with his or her departure (in each case consistent with TWO’s contractual obligations under the Plan). Appointment of Chief Financial Officer On September 4, 2026, TWO appointed Madhur Agarwal as its Chief Financial Officer, effective immediately. Mr. Agarwal will serve as the principal financial officer for TWO. Mr. Agarwal, age 36, has served as the Chief Financial Officer of CrossCountry Mortgage, LLC (“CCM”), TWO’s parent company, since 2021, and is expected to continue serving in such role concurrently with his service as Chief Financial Officer of TWO. As Chief Financial Officer of CCM, Mr. Agarwal oversees all aspects of the finance function, including accounting and financial reporting, FP&A, corporate strategy, M&A, capital raising activities, treasury, procurement and vendor management, payroll, and tax. Prior to joining CCM in 2021, Mr. Agarwal was an investment professional at Radcliff Management, where he sourced, evaluated and executed privately negotiated investments in operating businesses across the technology, consumer and financial services industries. Previously, Mr. Agarwal worked as an investment professional at Crescent Capital Group, where he focused on private equity investments across various industries. He began his career in investment banking at Citigroup. Mr. Agarwal holds a Master of Business Administration from Harvard Business School and a Bachelor of Science from the University of Pennsylvania. Mr. Agarwal will not receive any compensation from TWO, nor will his compensation from CCM be modified, in connection with his appointment as Chief Financial Officer of TWO. Mr. Agarwal has no other direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended, nor are any such transactions currently proposed. There are no arrangements or understandings between Mr. Agarwal and any other persons pursuant to which Mr. Agarwal is being appointed as Chief Financial Officer, and there are no family relationships between Mr. Agarwal and any director or executive officer of TWO or person nominated or chosen by TWO to become a director or executive officer.