NOTICE OF CHANGE TO VIRTUAL MEETING FORMAT
FOR THE 2020 ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON MAY 14, 2020
To the
Shareholders of PennyMac Mortgage Investment Trust:
To comply with restrictions on in-person
gatherings in effect in California due to the coronavirus disease 2019 (COVID-19) pandemic, as well as to support the health and well-being of shareholders and company personnel, NOTICE IS HEREBY GIVEN that
the Board of Trustees of PennyMac Mortgage Investment Trust (the “Company”) has determined to change the format of the 2020 Annual Meeting of Shareholders of the Company (the “Annual Meeting”) to a meeting conducted in a
virtual-only format, solely by means of remote communication, instead of an in-person meeting. As previously announced, the Annual Meeting will be held on Thursday, May 14, 2020, at 11:00 a.m. Pacific
Time. Shareholders will not be able to attend the Annual Meeting in person.
As described in the proxy materials for the Annual Meeting
previously distributed, shareholders as of the close of business on March 16, 2020, the record date, are entitled to participate in and vote at the Annual Meeting. To be admitted to the Annual Meeting at
www.virtualshareholdermeeting.com/PMT2020, a shareholder must enter the 16-digit control number found on the proxy card, voting instruction form, notice of internet availability of proxy materials or email, as
applicable, previously sent or made available to shareholders. Online access to the audio webcast will open 15 minutes prior to the start of the Annual Meeting. The items of business are the same as set forth in the 2020 Proxy Statement and Notice
of Annual Meeting, dated April 3, 2020, previously sent or made available to shareholders entitled to vote at the Annual Meeting.
Access to the Audio Webcast of the Annual Meeting. The live audio webcast of the Annual Meeting will begin promptly at 11:00 a.m.
Pacific Time. Online access to the audio webcast will open 15 minutes prior to the start of the Annual Meeting to allow time for you to log-in and test your device’s audio system. We encourage you to
access the meeting in advance of the designated start time.
Log-in Instructions. To be
admitted to the Annual Meeting virtually, you will need to log-in to www.virtualshareholdermeeting.com/PMT2020 using the 16-digit control number found on the proxy card,
voting instruction form, notice of internet availability of proxy materials or email, as applicable, previously sent or made available to shareholders entitled to vote at the Annual Meeting.
Technical Assistance. Beginning 15 minutes prior to, and during, the Annual Meeting, we will have support available to assist
shareholders with any technical difficulties they may have accessing or hearing the virtual meeting. If you encounter any difficulty accessing, or during, the virtual meeting, please call the support team at the toll-free number on the virtual
Annual Meeting log-in page which will be available 15 minutes prior to the meeting.
Voting
Prior to or at the Annual Meeting. An online portal is available to shareholders at www.proxyvote.com where you can view and download our proxy materials and 2019 annual report and vote your shares in advance of the Annual Meeting. You may vote
your shares during the Annual Meeting (up until the closing of the polls) by following the instructions available at www.virtualshareholdermeeting.com/PMT2020 during the meeting. Shares may also be voted via the original proxy card or pursuant to
the instructions for submitting your proxy via the Internet or telephone that were included in the previously-distributed proxy materials.
Whether or not you plan to attend the Annual Meeting, we urge you to vote and submit your proxy in advance of the meeting using one of the
methods described in the proxy materials. The proxy card, voting instruction form or notice of internet availability included with your previously-distributed proxy materials will not be updated to reflect the change in format of the meeting.
Submitting Questions; Rules of Conduct. You can view the Agenda and the Rules of Conduct for the Annual Meeting after you log-in to the virtual meeting website at www.virtualshareholdermeeting.com/PMT2020.