X0306 4 2021-10-08 0 0001692376 Velocity Financial, Inc. VEL 0001792715 TOBI III SPE I LLC C/O PACIFIC INVESTMENT MGMT CO LLC 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660 1 0 1 0 0001163368 PACIFIC INVESTMENT MANAGEMENT CO LLC 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660 1 0 1 0 0001792718 LVS III Holding LP C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660 1 0 1 0 Common Stock 2021-10-08 4 C 0 6493506 3.85 A 10963806 D Series A Convertible Preferred Stock 3.85 2021-10-08 4 C 0 25000 0.00 D Common Stock 6493506 0 D TOBI III SPE I LLC, a Delaware limited liability company ("TOBI"), is the direct holder of the Issuer's securities. TOBI was formed solely for the purpose of investing in the Issuer. LVS III Holding LP, a Delaware limited partnership ("LVS"), is the sole member of TOBI and operates as a pooled investment fund and invests (among other things) in operating companies. PIMCO GP XVII, LLC, a Delaware limited liability company ("PIMCO GP"), is the sole general partner of LVS. Pacific Investment Management Company LLC is the sole managing member of PIMCO GP, retains a pecuniary interest therein, and has the power to make voting and investment decisions regarding the securities of the Issuer held by TOBI. The signatory below executes this Form 4 on behalf of each Reporting Person as an Executive Vice President of PIMCO. The Series A Preferred Stock was not convertible until Velocity Financial, Inc. (the "Issuer") obtained stockholder approval, which was obtained on August 13, 2020, following which the Series A Preferred Stock became convertible into shares of Common Stock, at the option of TOBI (or a permitted transferee) at an initial conversion price of $3.85 per share of Common Stock, equivalent to an initial conversion rate of 259.74, subject to customary anti-dilution adjustments. In addition, the Series A Preferred Stock was subject to conversion at the option of the Issuer after October 7, 2021 in accordance with the terms thereof. On October 8, 2021, the Issuer exercised its option to mandatorily convert all shares of Series A Preferred Stock then outstanding. The Series A Preferred Stock has no expiration date. /s/ Harin de Silva, Executive Vice President, Pacific Investment Management Company LLC 2021-10-12 /s/ Harin de Silva, Executive Vice President, on behalf of TOBI III SPE I LLC; By: LVS III Holding LP, its sole member; By: PIMCO GP XVII, LLC, its general partner; By: Pacific Investment Management Company LLC, its managing member 2021-10-12 /s/ Harin de Silva, Executive Vice President, on behalf of LVS III Holding LP; By: PIMCO GP XVII, LLC, its general partner; By: Pacific Investment Management Company LLC, its managing member 2021-10-12