X0306 4 2021-05-03 0 0000930236 REDWOOD TRUST INC RWT 0001474435 Pero Jeffrey T ONE BELVEDERE PLACE, SUITE 300 MILL VALLEY CA 94941 1 0 0 0 Common Stock 2021-05-03 4 M 0 9000 11.11 A 96248 D Deferred Stock Units 15.03 2021-05-03 4 M 0 9000 0 D Common Stock 9000 0 D This transaction relates to the distribution and/or conversion of Deferred Stock Units, to common stock under the Executive Deferred Compensation Plan. Represents the value (per stock unit or share of common stock) of the distribution and/or conversion of Deferred Stock Units, including to common stock under the Executive Deferred Compensation Plan, based on the fair market value of Redwood Trust, Inc. common stock on the transaction date. Represents fair value per stock unit of Deferred Stock Units based on the weighted average of the original grant date fair market values. Shares are subject to a minimum mandatory holding period and will be delivered to the Participant at the time provided in the Deferral Election. No expiration date is applicable to Deferred Stock Units. Attorney-In-Fact: /s/Andrew P. Stone for Jeffrey T. Pero 2021-05-04