This investor presentation by Ladder Capital Corp provides an overview of the company and its business lines. Some key points: - Ladder has a $6 billion portfolio of commercial real estate debt and equity investments across lending, securities, and real estate equity. - Lending makes up 65% of the portfolio and includes conduit loans, balance sheet loans, and mezzanine/subordinate loans. - Securities, primarily commercial mortgage-backed securities, make up 15% of the portfolio. - Real estate equity, including net leased properties and other commercial real estate, makes up 19% of the portfolio. - Financially, Ladder has achieved a 10.9% after-tax

1. INVESTOR PRESENTATION
NOVEMBER 2016
NYSE: LADR

2. 2
This presentation contains forward-looking statements regarding possible or assumed future results of the business, financial condition, plans
and objectives of Ladder Capital Corp and its subsidiaries and affiliates (collectively, “Ladder Capital,” “Ladder,” “LADR,” or the “Company”).
Any statement concerning future events or expectations, express or implied, is a forward-looking statement. Words such as “may,” “will,”
“seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations
thereon or comparable terminology are intended to identify forward-looking statements that are subject to risk and uncertainties. There can
be no assurance that any expectations, express or implied, in a forward-looking statement will prove correct or that the contemplated event or
result will occur as anticipated. In particular, there can be no assurance that Ladder will achieve any performance objectives set forth in this
presentation. Further, any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over
time, and it is not possible for Ladder to predict those events or their effect on the Company. Except as required by law, Ladder is not
obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise.
This presentation is strictly for informational purposes. It is not intended to be relied upon as investment advice and is not, and should not be
assumed to be, complete. The contents herein are not to be construed as legal, business or tax advice, and each recipient should consult its
own attorney, business advisor and tax advisor as to legal, business and tax advice.
Certain information contained herein is based on, or derived from, information provided by independent third-party sources. Ladder believes
that such information is accurate and that the sources from which it has been obtained are reliable. However, Ladder cannot guarantee the
accuracy of such information and has not independently verified the assumptions on which such information is based. All data is presented as
of September 30, 2016, unless otherwise indicated.
This presentation includes certain non-GAAP financial measures. These non-GAAP financial measures should be considered only as
supplemental to, and not as superior to, financial measures prepared in accordance with GAAP. Please refer to the Company’s September 30,
2016 Form 10-Q filing and earnings press release, which are available on Ladder’s website (www.laddercapital.com), for a reconciliation of the
non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with
GAAP.
Totals may not equal the sum of components due to rounding.
DISCLAIMERS

3. LADDER OVERVIEW
3
(1) All metrics as of 09/30/2016
(2) Based on $13.24 LADR closing price on 09/30/2016. Equal to 11.9% of common equity outstanding
(3) For a description of this non-GAAP financial measure, see Selected Definitions on page 21
Ladder Capital Corp is an internally-managed commercial real estate finance REIT
28 years average industry experience of senior managementExperienced
$6 billion portfolio of commercial real estate debt & equity assetsBalanced
10.9% after-tax core return on equity(3)
in the last twelve monthsProfitable
Management and directors own $173 million of equity in the company(1)
Aligned
Disciplined credit culture with no credit losses since inceptionCredit-Centric

4. LADDER HISTORY
4
Ladder was founded
by Brian Harris and
partners in 2008 as a
new breed of non-
bank commercial real
estate finance
company
Ladder contributes
loans to the first post-
crisis CMBS conduit
securitization,
demonstrating the
Company’s credentials
as an expert in
commercial mortgage
lending and related
securities
Ladder completes its first
unsecured corporate
bond issuance and
receives ratings from
Moody’s, S&P and Fitch;
Ladder also becomes a
member of the Federal
Home Loan Bank
(“FHLB”), gaining access
to an additional source of
attractive financing
Ladder completes
40th securitization
Ladder creates own
securitization shelf
Ladder launches its
first mutual fund,
Ladder Select Bond
Fund (ticker=LSBIX)
Assets: $232 million
Equity: $229 million
Assets: $2.6 billion
Equity: $719 million
Assets: $2.6 billion
Equity: $1.1 billion
2008 2010 2012 2016
Ladder completes its
initial public offering
(IPO), establishing the
company as a premier
finance provider to the
commercial real estate
industry and a leading
CMBS investor
Assets: $5.8 billion
Equity: $1.5 billion
2014
Assets: $6.2 billion
Equity: $1.5 billion
Note: Asset and equity figures are as of year-end, except for 2016 which is as of September 30, 2016

5. Lending
65%
Real Estate
Equity
19%
Securities
15%
COMPLEMENTARY BUSINESS LINES
5
(1) Based on core gross income contribution before overhead and other corporate expenses
Stable and Diverse Income Streams from Commercial Real Estate
LENDING
Balance Sheet Loans / Loans held for investment
Ladder directly originates and invests in mortgage loans
secured by income-generating commercial real estate
nationwide, earning net interest income for Ladder
Conduit Loans / Loans held for sale
Ladder periodically sells fixed-rate, 5 to 10-year mortgage
loans into CMBS trusts (“securitizations”), earning a gain on
sale of loans, net of associated hedging costs
SECURITIES
Ladder invests in short duration, investment grade rated
commercial mortgage-backed securities (“CMBS”) to earn net
interest income and manage liquidity
REAL ESTATE
Ladder owns 6.9 million square feet of real estate, including 4.1
million of net lease real estate, and 2.8 million of other office
and multifamily real estate
Net Revenue Contribution(1)
Nine Months Ended 09/30/2016

6. Mezzanine/
Subordinate
Loans
3%
Balance
Sheet First
Mortgage
Loans
25%
Conduit
Loans
13%
Net Leased
CRE Equity
9%
Other CRE
Equity
4%
Condominium
Real Estate
Equity
1%
CRE
Securities
45%
DIVERSIFIED ASSETS
Predominantly Senior Secured Asset Base of Commercial Real Estate-Related Investments
Investment Asset Mix(1) Loan Portfolio Overview(1)
$6.2 billion of total assets
81% senior secured assets
Equity Portfolio Overview(1)
(1) As of 09/30/2016
Northeast
33%
South
26%
West
12%
Southwest
8%Midwest
7%
Various
14%
Hotel
35%
Retail
13%
Multifamily
18%
Office
21%
Mixed
Use
5%
MHP
7%
Industrial
1%
Office
28%
Wholesale
Club
18%
Grocery
Store
13%
Drug
Store
12%Dollar
Store
9%
Other
Retail
7%
Ware-
house
7%
Condo-
minium
6%
Northeast
22%
South
31%
West
4%
South-
west
7%
Midwest
35%
Various
1%
6

7. COMPELLING MARKET BACKDROP
7
CRE Mortgage Maturities
Drive Refinancings
Commercial Property Sales
Drive Acquisition Financing
Key Regulatory Dynamics
Impact Bank Competitors
Basel III
Volcker Rule
Risk Retention Rules
Increased Regulatory Burden
Reduces Bank Appetite
$68b
$147b
$234b
$297b
$362b
$424b
$511b
2009 2010 2011 2012 2013 2014 2015
$364b $353b
$399b
$332b $338b $346b
$324b
2015 2016E 2017E 2018E 2019E 2020E 2021E
Source: Trepp and Real Capital Analytics

8. LENDING
8
$2.4 billion
Loans on balance sheet
as of 9/30/2016
93.0%
Of loans are first mortgages
as of 9/30/2016
6.2%
Weighted average yield
as of 9/30/2016
66.8%
Weighted Average LTV
as of 9/30/2016
$125,000,000
Fixed rate conduit first mortgage
Sanofi Headquarters, Bridgewater, NJ
$11,250,000
Floating rate balance sheet first mortgage
300 Wyandotte, Kansas City, MO
$88,000,000
Fixed rate conduit first mortgage
Rolling Brook Village, Woodbridge, VA
$45,000,000
Floating rate balance sheet first mortgage
Washington Park Hotel, Miami Beach, FL
Photographs and descriptions represent selected assets, not entire portfolio. Conduit loans have already been sold by Ladder into securitizations.
$17.6 million
Average loan size
as of 9/30/2016

9. LENDING PROGRAMS
9
Lending
Program
Balance at
09/30/2016
LTV at
09/30/2016
Weighted-Avg.
Coupon at
09/30/2016
Interest
Rate Type
Loan
Term
Business
Plan
Conduit Loans $784.2 million 65.6% 4.4% Typically fixed
rate
Typically five years
or ten years
Held for sale
Balance Sheet
First Mortgage
Loans
$1,473.9 million 66.6% 6.8% Typically floating
rate, with a high
floor
Typically one to
five years,
including extension
options
Held for
investment
Mezzanine and
Other Loans
$169.2 million 74.2% 10.9% Typically fixed
rate
Typically five to ten
years
Held for
investment
Total Loans $2,427.2 million 66.8% 6.2%(1)
59.0% of loan
portfolio is
floating-rate
3.6 year weighted
average remaining
maturity
(1) Represents total loan portfolio yield

10. Illustrative Securitization Example
Originate
mortgage loans
secured by
commercial real
estate properties
CONDUIT LOAN SECURITIZATION
10
Ladder equity
Sell the loans to a
CMBS trust for a
profit on the
principal loan
amount
Ladder recycles capital to originate new loans & drive higher ROEs
Potential for
strong return
on equity
Finance loans with
one of Ladder’s
credit line lenders
or the FHLB
Ladder has its own CMBS securitization shelf and its own risk retention solutions

11. SECURITIES
11
$2.6 billion
CMBS on balance sheet
as of 9/30/2016
3.1 years
Weighted average duration
as of 9/30/2016
$13.0 million
Average investment per
CUSIP as of 9/30/2016
84%
Rated AAA
as of 9/30/2016
98%
Investment grade rated
as of 9/30/2016
HILT 2013-HLT AFX
AAA-rated securities secured by a portfolio of
cross-collateralized hotels representing the
majority of Hilton owned assets
LCCM 2014-PKMD A
AAA-rated securities backed by a multi-family
apartment community in San Francisco
COMM 2015-3BP A
AAA-rated securities backed by 3 Bryant Park,
a Class A office building in New York City
COMM 2016-CR28 XPA
AAA-rated, interest-only securities backed by a
diversified pool of commercial real estate loans
Photographs and descriptions represent selected assets, not entire portfolio.
Statistics on this page do not include Ladder’s U.S. Agency securities investments, which had a book value of $62.2 million as of 9/30/2016.

12. REAL ESTATE EQUITY
12
$826 million(1)
Real estate on balance sheet
as of 9/30/2016
$241 million
Office and other portfolio as
of 9/30/2016
6.9 million
Square feet as of
9/30/2016
$539 million
Net lease portfolio
as of 9/30/2016
$928 million
Undepreciated value of real
estate as of 9/30/2016
Net Lease Portfolio
4.1 million square feet featuring tenants such
as Walgreens and Hy-Vee supermarkets
Other Joint Ventures
Ladder is invested in two unconsolidated real
estate joint ventures, in NYC and MI
Value-Add Portfolio
2.7 million square feet of office and other real
estate for investment
Condominiums
Ladder owns residential condominiums in
Las Vegas and Miami, which it is selling over time
Photographs and descriptions represent selected assets, not entire portfolio.
(1) Includes $539 million net lease, $241 million office and other, and $46 million condominiums. In addition, investments in unconsolidated
joint ventures had a book value of $34 million at 9/30/2016.

13. 8.7%
10.8%
11.7%
12.8% 13.1%
16.2% 16.3% 15.8%
13.6% 13.6% 13.8%
16.7% 16.9%
20.3% 20.1%
18.5%
17.2%
13.5% 14.3% 13.8%
15.3%
14.3% 13.5% 12.9% 12.7% 12.1%
10.8% 11.0%
Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Pre-Tax Core ROAE(1)
FINANCIAL PERFORMANCE
13
Core Earnings(1)
1.9x 2.6x 2.6x 2.6x 2.6x 2.4x 2.8x 2.3x 1.6x 1.5x 1.6x 1.1x 1.4x 1.1x 1.1x 1.0x 1.9x 1.4x 1.5x 2.1x 2.8x 2.8x 2.7x 2.8x 2.9x 2.8x 3.0x 3.0xLeverage :
($ in millions)
(1) For a description of this non-GAAP financial measure, see Selected Definitions on page 21
(2) Represents Core Leverage Ratio. For a description of this non-GAAP financial measure, see Selected Definitions on page 21.
(2)
$1
$13
$4
$23
$17
$25
$19
$31
$40
$26
$17 $20
$51
$38
$58
$31
$93
$42 $46
$20
$55
$62
$49 $53
$48 $52
$41
$50
$38
$31
$44
Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16

14. Cash Dividends vs. Core EPS
DIVIDEND COVERAGE
14
Ladder’s well-covered dividends have allowed for superior capital retention
(1) The Company’s Q4 2015 dividend was subject to a cash/stock election. Represents cash dividend paid to shareholders electing cash.
(1)
$0.250 $0.250
$0.275
$0.335
$0.275 $0.275 $0.275
$0.48
$0.51
$0.40
$0.45
$0.38
$0.32
$0.40
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Cash Dividend Core EPS

15. Note: As of 09/30/2016
(1) Includes extensions at Company’s option
(2) Maximum borrowings are the lesser of $2.85 billion, 40% of Ladder’s captive insurance subsidiary’s total assets or 150% of Ladder’s total book equity
(3) Corporate family ratings: Moody’s: Ba2 / S&P: BB- / Fitch: BB. Corporate bond ratings: Moody’s: Ba3 / S&P: B+ / Fitch: BB
Source
Facility Size
($mm)
Debt
Outstanding
($mm)
Remaining
Term(1)
Eligible CRE
Collateral
Bank A – facility 1 of 2 600 277 2.0+ years Conduit and balance sheet loans
Bank B 450 187 3.5+ years Conduit and balance sheet loans
Bank C 400 121 2.5+ years Conduit and balance sheet loans
Bank D 100 – 2.5+ years Conduit and balance sheet loans
Bank E 100 38 4.5+ years Conduit and balance sheet loans
Bank A – facility 2 of 2 400 380 1.5+ years Securities
Securities Repurchase Facilities – 455 1 – 3 months Securities
Revolving Credit Facility 143 100 2.0+ years N/A (unsecured)
Non-Recourse Mortgage Financing (3rd Party) 576 576 7.3 years Real Estate Equity Investments
Non-Recourse Mortgage Loan Receivable Financing 63 63 N/A Conduit loan
Federal Home Loan Bank 2,251
(2)
1,845 Member
Conduit and balance sheet loans;
securities
Unsecured Corporate Bonds (3)
298 298 1.0+ years N/A (unsecured)
Unsecured Corporate Bonds (3)
266 266 5.0+ years N/A (unsecured)
Total $5,647 $4,601
DIVERSE FINANCING SOURCES
15

16. Core Leverage Ratio(1)
LEVERAGE MATCHED TO ASSET LIQUIDITY
16
 Ladder targets total company
debt to equity of approximately
2.0x – 3.0x
 Ladder employs higher
leverage on its portfolio of
liquid, principally AAA-rated
securities
 Excluding its securities portfolio,
Ladder’s corporate leverage
was 1.2x at 09/30/2016
3.0x
1.2x
Total Company –
with Securities
Total Company –
without Securities
(1) For a description of this non-GAAP financial measure, see Selected Definitions on page 21

17. RISK MANAGEMENT OVERVIEW
17
Liquidity Risk
Management
Hedging
Practices
• Utilize standard interest rate and credit spread hedging tools with multiple ISDA counterparties
• Gap and rate sensitivity analyses are performed and reviewed by the Risk and Underwriting
Committee of the Board of Directors
Limited Leverage
with Multiple
Committed
Counterparties
• Target debt-to-equity ratio of approximately 2x – 3x
• Long-term leverage forecasting including various scenario analyses performed on a regular basis
• FHLB membership, six committed term financing relationships with five leading financial
institutions, corporate unsecured revolver and bonds, and non-recourse mortgage financing
• Preponderance of assets are either senior secured or investment grade-rated
• Emphasis on committed term funding with multiple counterparties (including FHLB) to manage
duration risk and enhance diversity
• Detailed cash and debt management forecast updated and reviewed by management daily

18.  In a rising interest rate environment, Ladder would expect to benefit from:
̶ $1.4 billion floating rate balance sheet loan portfolio
̶ $1.6 billion of fixed rate debt with remaining terms greater than one year
̶ $1.2 billion (notional value) of interest rate hedge positions that place Ladder in a position
equivalent to that of a “fixed rate payer / floating rate receiver”
̶ The Company estimates that a 100 basis point increase in LIBOR would result in an increase
in annual net interest income of approximately $2.4 million
Change in LIBOR
Projected Change in Annual
Net Interest Income ($mm)
Projected Change in
Portfolio Value ($mm)
Decrease of 100 Basis Points $1.5 $51.0 million (3.4% of book equity)
Increase of 100 Basis Points $2.4 ($51.2 million) (3.4% of book equity)
INTEREST RATE RISK MANAGEMENT
18
Note: All amounts as of 09/30/2016

19. BALANCE SHEET SUMMARY
19
Cash $97
Loans Held for Sale 784
Loans Held for Investment 1,643
Securities 2,651
Net Lease & Other Equity Investments 826
Equity Investment in Partnerships & JVs 34
Other Assets 181
Total Assets $6,216
Total Debt $4,601
Other Liabilities 114
Total Liabilities 4,715
Equity Capital 1,496
Non-Controlling Interest (Joint Ventures) 5
Total Equity Capital 1,501
Total Liabilities and Equity $6,216
(as of 09/30/2016; $ in millions)
Consistent emphasis on senior secured assets, liquidity and moderate leverage

20. 20
(1) All metrics shown on a consolidated basis, except Weighted-Average % Owned by Ladder
(2) Excludes two unconsolidated joint venture investments with total book value of $33.9 million as of September 30, 2016
(3) For a description of these financial measures, see Selected Definitions on page 21
(4) For a description of these non-GAAP financial measures, see Selected Definitions on page 21
(as of 09/30/2016; $ in millions, except per share amounts)
LADDER SNAPSHOT
Snapshot of Business Lines Other Assets, Financing, Book Equity and ROE
Conduit Loans Net Leased Commercial Real Estate (100% Owned) Other Assets
Carrying Value of Assets $784 Carrying Value of Assets $539 Cash & Cash Equivalents $60
Weighted-Average Yield 4.4% Undepreciated Book Value of Assets 591 Other Assets(3)
252
Origination Volume (LTM) 1,678 Total Square Feet 4,092,759
Securitization Volume (LTM) 1,268 Weighted-Average Occupancy 100% Financing
Securitization Profit Margin (LTM) 2.6% In-Place Annual Net Operating Income (NOI) $38.7 Secured Debt $4,042
Number of Securitizations (LTM) 6 Accounting method: carried at depreciated book value Senior Unsecured Notes 559
Net Revenue Contribution (LTM) $44 Total Debt 4,601
Accounting method: carried at lower of cost or FMV Other Commercial Real Estate(1)(2) Other Liabilities(3)
114
Carrying Value of Assets $241
Balance Sheet Loans Undepreciated Book Value of Assets 295 Book Equity Value
Carrying Value of Assets $1,643 Total Square Feet 2,665,579 Book Equity Value (excluding NCI in JVs) $1,496
% First Mortgage 90% Weighted-Average Occupancy 85% Total Shares Outstanding (mm) 109.6
% Other (Mezzanine/Subordinate) 10% In-Place Annual Net Operating Income (NOI) $24.3 GAAP Book Value per Share(3)
$13.59
Weighted-Average Yield 7.1% Weighted-Average % Owned by Ladder 88.2% Undepreciated Book Value per Share(4)
$14.58
Accounting method: carried at lower of cost or FMV Accounting method: carried at depreciated book value
Leverage(4)
Securities Condominium Residential Real Estate(1) Core Leverage Ratio 3.0x
Carrying Value of Assets $2,651 Carrying Value of Assets $46
% First Mortgage Secured 100% Total Remaining Units 178 Return on Average Equity (based on Core Earnings)(4)
% AAA-Rated 84% Total Remaining Square Feet 185,100 Core Earnings (LTM) $164
% Investment Grade-Rated 98% Unit Sale Price as % of GAAP Book Value (LTM) 150% Average Book Equity Value (LTM) 1,484
Weighted-Average Duration 3.2 Years Weighted-Average % Owned by Ladder 99.5% Pre-Tax Core ROAE (LTM) 11.0%
Accounting method: carried at FMV Accounting method: carried at depreciated book value Core ROAE (After-Tax) (LTM) 10.9%

21. 21
SELECTED DEFINITIONS
• Core Earnings (non-GAAP)
̶ Income before taxes adjusted to exclude (i) real estate depreciation and amortization, (ii) the impact of derivative gains and losses related to the
hedging of assets on our balance sheet as of the end of the specified accounting period, (iii) unrealized gains/(losses) related to our investments in
Agency interest-only securities, (iv) the premium (discount) on mortgage loan financing and the related amortization of premium (discount) on
mortgage loan financing recorded during the period, (v) non-cash stock-based compensation and (vi) certain one-time transactional items.
• Core EPS (non-GAAP)
̶ After-tax Core Earnings divided by adjusted weighted-average shares outstanding.
• Core Leverage Ratio (non-GAAP)
̶ Total debt obligations, adjusted to exclude non-recourse mortgage loan receivable financing, divided by total equity (capital).
• Core Return on Average Equity (Core ROAE) (non-GAAP)
̶ After-tax Core Earnings divided by average book equity balance excluding total noncontrolling interest in consolidated joint ventures.
• GAAP Book Value per Share
̶ Total shareholders’ equity divided by Class A common shares outstanding.
• Other Assets
̶ Includes cash collateral held by broker, investments in unconsolidated joint ventures, FHLB stock, derivative instrument assets, amount due from
brokers, accrued interest receivable and other assets.
• Other Liabilities
̶ Includes amount due to brokers, derivative instrument liabilities, amount payable pursuant to tax receivable agreement, dividend payable, accrued
expenses and other liabilities.
• Pre-Tax Core Return on Average Equity (Pre-Tax Core ROAE) (non-GAAP)
̶ Core Earnings divided by average book equity balance excluding total noncontrolling interest in consolidated joint ventures.
• Undepreciated Book Value per Share (non-GAAP)
̶ Total equity (capital), adjusted to exclude total noncontrolling interest in consolidated joint ventures and adjusted to include total real estate
accumulated depreciation and amortization, divided by total diluted shares outstanding.