Brookfield acquires majority of FINS adviser; Trustee Triick resigns, Bortz named President

Angel Oak Financial Strategies Income Term Trust

Brookfield Asset Management Ltd. acquired majority of Angel Oak Companies, LP, parent of Fund's adviser Angel Oak, effective Oct 1, 2025.
Clayton Triick resigned as Trustee effective Sep 30, 2025; Board reduced to five members.
Ward Bortz replaced Adam Langley as President of the Fund effective Oct 1, 2025.
Change of control triggered automatic termination of prior advisory agreement; new agreement with same fee approved by Board and shareholders.
No material change expected in day-to-day management, investment objectives, or principal strategies.

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