X0306 4 2016-02-24 0001464423 PennyMac Mortgage Investment Trust PMT 0001275713 SPECTOR DAVID C/O PENNYMAC MORTGAGE INVESTMENT TRUST 6101 CONDOR DRIVE MOORPARK CA 93021 1 1 President and COO Common Shares of Beneficial Interest 2016-02-24 4 A 0 34053 0 A 315490 D Common Shares of Beneficial Interest 2016-02-24 4 S 0 8086 12.0137 D 307404 D The Reporting Person was granted 34,053 restricted share units. The restricted share units, which vest in three equal annual installments beginning on the first anniversary of the grant date, are to be settled in an equal number of common shares of beneficial interest upon vesting. The common shares of beneficial interest were sold pursuant to a 10b5-1 plan, which included sales in order to pay estimated tax obligations resulting from the vesting of 13,478 restricted share units on February 24, 2016. The price reported is the weighted average price of multiple transactions at prices ranging from $11.885 to $12.19. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of common shares of beneficial interest and the prices at which the transactions were effected. The reported amount consists of 156,411 restricted share units and 150,993 common shares of beneficial interest. The restricted share units are to be settled in an equal number of common shares of beneficial interest upon vesting. /s/ Derek W. Stark, attorney-in-fact for Mr. Spector 2016-02-26