PennyMac Mortgage Investment Trust Announces Change to Virtual Format for 2020 Annual Meeting of Shareholders

PennyMac Mortgage Investment Trust PMT today announced that it will host its 2020 Annual Meeting of Shareholders (the "Annual Meeting") virtually by means of a live webcast due to the public health concerns resulting from the coronavirus disease 2019 (COVID-19) and to prioritize the health and well-being of the Company's shareholders, its officers and other meeting participants.

The Annual Meeting, which was previously announced in the Company's Notice of 2020 Annual Meeting of Shareholders, filed with the Securities and Exchange Commission on April 3, 2020, will continue to be held on May 14, 2020 at 11:00 a.m. Pacific Daylight Time. Although shareholders will not be able to attend the Annual Meeting in person, shareholders will have the ability to participate in and vote during the Annual Meeting. Shareholders also will have the ability to submit questions in advance of the Annual Meeting as described in the definitive additional materials as filed with the Securities and Exchange Commission on April 28, 2020.

Shareholders of record at the close of business on March 16, 2020 who wish to participate can visit www.virtualshareholdermeeting.com/PMT2020 and enter the 16-digit control number included on the proxy card, voting instruction form, notice of internet availability of proxy materials or previously received email.

Whether or not shareholders plan to attend the virtual meeting, we encourage you to select one of the methods described in the proxy materials to vote and submit your proxies in advance of the Annual Meeting.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. PFSI. Additional information about PennyMac Mortgage Investment Trust is available at www.PennyMac-REIT.com.

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