New Residential Announces Pricing of Public Offering of Preferred Stock

New Residential Investment Corp. (NYSE: NRZ; “New Residential” or the “Company”) announced today that it priced an opportunistic underwritten public offering of 5,400,000 shares of its 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the “Preferred Stock”) with a liquidation preference of $25.00 per share, for gross proceeds of approximately $135,000,000, before deducting underwriting discounts and other estimated offering expenses. The Company intends to apply to list the Preferred Stock on the New York Stock Exchange under the symbol “NRZ PR A.” The offering is expected to close on July 2, 2019, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 810,000 shares of the Preferred Stock.

The Company intends to use the net proceeds from this offering for investments and general corporate purposes.

BofA Securities, Inc., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC, UBS Securities LLC, Citigroup Global Markets Inc. and Keefe, Bruyette & Woods, Inc., a Stifel Company are acting as joint book-running managers for the offering.

The offering is being made pursuant to the Company’s effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus supplement and the prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and the prospectus may be obtained from BofA Securities, Inc., Attention: Prospectus Department, 200 North College Street, NC1-004-03-43, Charlotte, North Carolina 28255, email: [e-mail]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 1585 Broadway, 29th Floor, New York, New York 10036, email: [e-mail]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: [e-mail]; RBC Capital Markets, LLC, Attention: DCM Transaction Management, Brookfield Place, 200 Vesey Street, 8th Floor, New York, New York 10281, email: [e-mail]; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019; Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York 11717, email: [e-mail]; or Keefe, Bruyette & Woods, Inc., a Stifel Company, Attention: Capital Markets, 787 Seventh Avenue, 4th Floor, New York, New York 10019, email: [e-mail].