X0306 4 2017-02-27 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 2017-02-27 4 S 0 4226 16.8838 D 289686 D Common Shares of Beneficial Interest 2017-02-27 4 S 0 2910 16.8749 D 286776 D 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 $16.84 to $16.93. 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 180,826 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 $16.84 to $16.91. 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 177,916 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 2017-03-01