X0306 4 2017-02-23 0001464423 PennyMac Mortgage Investment Trust PMT 0001275713 SPECTOR DAVID C/O PENNYMAC MORTGAGE INVESTMENT TRUST 3043 TOWNSGATE ROAD WESTLAKE VILLAGE CA 91361 1 1 President and CEO Common Shares of Beneficial Interest 2017-02-23 4 A 0 19753 0 A 301672 D Common Shares of Beneficial Interest 2017-02-24 4 S 0 3900 16.8647 D 297772 D Common Shares of Beneficial Interest 2017-02-24 4 S 0 3860 16.8634 D 293912 D The Reporting Person was granted 19,753 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 reported amount consists of 108,860 restricted share units and 192,812 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. The common shares of beneficial interest were sold pursuant to a 10b5-1 plan. The price reported is the weighted average price of multiple transactions ranging from $16.8125 to $16.96. 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 108,860 restricted share units and 188,912 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. The price reported is the weighted average price of multiple transactions ranging from $16.81 to $16.96. 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 108,860 restricted share units and 185,052 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 2017-02-27