Ellington Credit Co — fact timeline

Ellington Credit Co reported the quarter ended March 31, 2026 results: revenue $5.1 million, net income $(32.3) million or $(0.86) per share, EPS $(0.86) per share.

“which includes the effects of distributions of $0.24 per share for the quarter. • GAAP net loss was $(32.3) million or $(0.86) per share. • Net investment income ("NII") was $5.1 million, or $0.13 per share. ◦ Adjusted net investment income 1 was $7.3 million, or $0.19 per share. • CLO portfolio was $307.9 million as of March 31, 2026. ◦ CLO debt”

Ellington Credit Co incurred senior notes of $50 million aggregate principal amount of its 8.50% Notes due 2031 with Wilmington Trust, National Association at 8.50% per year maturing March 30, 2031.

“On March 30, 2026, in connection with the previously announced public offering (the "Offering") of $50 million aggregate principal amount of its 8.50% Notes due 2031 (the "Notes"), Ellington Credit Company (the "Fund") entered into (i) an indenture (the "Base Indenture") between the Fund and Wilmington Trust, National Association (the "Trustee") and (ii) a first supplemental indenture to the Base Indenture, between the Fund and the Trustee (the "Supplemental Indenture," and, together with the Base Indenture, the "Indenture").”

Ellington Credit Co entered into Indenture with Wilmington Trust, National Association valued at $50 million (effective 2026-03-30).

“On March 30, 2026, in connection with the previously announced public offering (the "Offering") of $50 million aggregate principal amount of its 8.50% Notes due 2031 (the “Notes”), Ellington Credit Company (the “Fund”) entered into (i) an indenture (the “Base Indenture”) between the Fund and Wilmington Trust, National Association (the “Trustee”) and (ii) a first supplemental indenture to the Base Indenture, between the Fund and the Trustee (the “Supplemental Indenture,” and, together with the Base Indenture, the “Indenture”).”

Ellington Credit Co entered into Underwriting Agreement with Piper Sandler & Co., as representative of the several underwriters valued at $50 million (effective 2026-03-25).

“On March 25, 2026 (the "Effective Date", Ellington Credit Company (the “Fund”) entered into an underwriting agreement (the “Underwriting Agreement”) by and among the Fund, Ellington Credit Company Management LLC, Ellington Credit Company Administration LLC and Piper Sandler & Co., as representative of the several underwriters named therein (the “Underwriters”), in connection with the issuance and sale by the Fund of $50 million aggregate principal amount of the Fund's 8.50% notes due 2031 (the “2031 Notes”).”

Ellington Credit Co reported the quarter ended December 31, 2025 results: net income $(21.1) million or $(0.56) per share, EPS $(0.56) per share.

“GAAP net income (loss) was $(21.1) million or $(0.56) per share.”

Ellington Credit Co: Adopted new code of ethics for principal executive and senior financial officers effective on conversion date.

“the Board adopted a new Code of Ethics for Principal Executive and Senior Financial Officers”

Ellington Credit Co: Changed fiscal year end to March 31, with first full year ending March 31, 2026 (effective 2026-03-31).

“the Fund changed its fiscal year to end on March 31, the day prior to the Conversion, with the Fund’s first full year following Conversion to end on March 31, 2026”

Ellington Credit Co: Adopted amended and restated by-laws upon redomicile from Maryland to Delaware (effective 2025-03-28).

“the Fund adopted an Amended and Restated Declaration of Trust (the "Declaration of Trust") and Amended and Restated By-Laws (the "By-Laws")”

Ellington Credit Co: Adopted amended and restated declaration of trust upon redomicile from Maryland to Delaware (effective 2025-03-28).

“the Fund adopted an Amended and Restated Declaration of Trust (the "Declaration of Trust")”

Ellington Credit Co: Company filed Articles Supplementary classifying and designating Series A Preferred Shares with voting and redemption terms (effective 2024-12-09).

“On December 9, 2024, the Company filed Articles Supplementary (the “Articles Supplementary” and, collectively with the Subscription Agreement, the "Issuance Documents") classifying and designating the Series A Preferred Shares with the State Department of Assessments and Taxation of Maryland, which Articles Supplementary became effective on December 9, 2024.”

Ellington Credit Co reported quarter ended March 31, 2024 results: net income $4.0 million, or $0.20 per share, EPS $0.20 per share.

“On May 14, 2024, the Company issued a press release announcing its financial results for the quarter ended March 31, 2024.”

Ellington Credit Co: Board adopted a Section 382 rights plan to protect NOLs, authorizing a dividend of one preferred share purchase right per common share (effective 2024-04-22).

“On April 22, 2024, the Board of Trustees (the “Board”) of Ellington Credit Company, a Maryland real estate investment trust (the “Company”), approved the Company's entry into a rights plan and authorized a dividend of one preferred share purchase right (“Right”) for each of the Company's outstanding common shares”

Ellington Credit Co: Amended and restated bylaws to update company name references from Ellington Residential Mortgage REIT to Ellington Credit Company (effective 2024-04-19).

“the Board unanimously approved the Third Amended and Restated Bylaws (the "A&R Bylaws") of the Company, to be effective as of April 19, 2024. The A&R Bylaws delete any reference to "Ellington Residential Mortgage REIT" and insert "Ellington Credit Company" in lieu thereof.”

Ellington Credit Co: Changed corporate name from Ellington Residential Mortgage REIT to Ellington Credit Company via Articles of Amendment (effective 2024-04-19).

“the board of trustees (the "Board") of Ellington Residential Mortgage REIT (the "Company") adopted Articles of Amendment for the purpose of amending the Company's current declaration of trust in order to change its corporate name to "Ellington Credit Company" from "Ellington Residential Mortgage REIT."”

Ellington Credit Co amended Amendments with Citizens JMP Securities, LLC, Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc., Armstrong Securities LLC (effective 2024-04-03).

“On April 3, 2024, Ellington Residential Mortgage REIT (the "Company") and Ellington Residential Mortgage Management LLC, the Company's manager, entered into amendments (the "Amendments") to each of the equity distribution agreements, dated as of November 14, 2023, by and among the Company and the Manager, on the one hand, and each of Citizens JMP Securities, LLC, Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and Armstrong Securities LLC (each, an "Agent" and, collectively, the "Agents"), respectively, on the other hand (prior to the Amendment, the "Existing Sales Agreements" and, as amended, the "Sales Agreements").”

Ellington Credit Co: Board approved changing company name to Ellington Credit Corporation with effective date to be determined; expects to file Charter Amendment and amended Bylaws later.

“The Company also announced that the Board has approved changing the Company’s name to Ellington Credit Corporation, with an effective date to be determined later, but that it will retain its ticker 'EARN' on the New York Stock Exchange (the "NYSE").”

Ellington Credit Co: Company revoked its REIT election effective January 1, 2024, resulting in cessation of share transfer restrictions under the Charter (effective 2024-01-01).

“On March 29, 2024, the Company revoked its election to be taxed as a REIT pursuant to section 856(c)(1) of the Internal Revenue Code of 1986, as amended (the "Code"), for the taxable year beginning on January 1, 2024.”

Ellington Credit Co amended Amendment No. 1 to the Fifth Amended and Restated Management Agreement with Ellington Residential Mortgage Management LLC (effective 2024-04-01).

“the Board of Trustees of the Company (the “Board”) unanimously approved Amendment No. 1 to the Fifth Amended and Restated Management Agreement, dated as of April 1, 2024 (the “Amendment”) with Ellington Residential Mortgage Management LLC, a Delaware limited liability company (the "Manager"), which removes certain provisions related to the Company’s qualification and maintenance of REIT status from Section 2 (Appointment and Duties of the Manager) of and the Investment Guidelines attached as Exhibit A to the Fifth Amended and Restated Management Agreement, dated as of March 13, 2018, by and between the Company and the Manager (the "Management Agreement" and, as amended by the Amendment, the "Amended Management Agreement").”

Ellington Credit Co reported quarter ended December 31, 2023 results: net income 12.4 million, EPS 0.75 per share.

“Net income (loss) of $12.4 million, or $0.75 per share.”

Ellington Credit Co entered into equity distribution agreements with Citizens JMP Securities, LLC, Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and Armstrong Securities LLC valued at up to $100.0 million (effective 2023-11-14).

“On November 14, 2023, Ellington Residential Mortgage REIT (the “Company”) and Ellington Residential Mortgage Management LLC, the Company’s manager, entered into separate equity distribution agreements (each, an "Agreement" and collectively, the "Agreements") with each of Citizens JMP Securities, LLC, Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and Armstrong Securities LLC”

Ellington Credit Co reported quarter ended September 30, 2023 results: net income $(11.4) million, EPS $(0.75) per share.

“Ellington Residential Mortgage REIT Reports Third Quarter 2023 Results OLD GREENWICH, Connecticut—November 13, 2023 Ellington Residential Mortgage REIT (NYSE: EARN) ("we", "us," or "our") today reported financial results for the quarter ended September 30, 2023. Highlights • Net income (loss) of $(11.4) million, or $(0.75) per share.”

Ellington Credit Co reported the quarter ended June 30, 2023 results: net income $1.2 million, or $0.09 per share, EPS $0.09 per share.

“Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today reported financial results for the quarter ended June 30, 2023. Highlights • Net income (loss) of $1.2 million, or $0.09 per share.”

Ellington Credit Co shareholders approved Approval of the Ellington Residential Mortgage REIT 2023 Equity Incentive Plan at the 2023-05-16 meeting.

“Proposal 4: Approval of the Ellington Residential Mortgage REIT 2023 Equity Incentive Plan Votes on a proposal to approve the adoption of the Ellington Residential Mortgage REIT 2023 Equity Incentive Plan were as follows: For Against Abstentions Broker Non-Votes 2,391,555 1,167,781 122,005 5,767,410”

Ellington Credit Co shareholders approved Ratification of appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm at the 2023-05-16 meeting.

“Proposal 3: Ratification of the Appointment of the Company's Independent Registered Public Accountants Votes regarding the proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ending December 31, 2023 were as follows: For Against Abstentions Broker Non-Votes 9,146,511 110,599 191,641 * * No broker non-votes arose in connection with this proposal due to the fact that the proposal was considered “routine” under New York Stock Exchange Rules.”

Ellington Credit Co shareholders approved Advisory vote to approve executive compensation at the 2023-05-16 meeting.

“Proposal 2: Advisory (Non-Binding) “Say on Pay” Vote to Approve Executive Compensation Votes on a proposal to approve, on an advisory basis, the compensation of the Company's named executive officers were as follows: For Against Abstentions Broker Non-Votes 3,131,678 391,338 158,325 5,767,410”

Ellington Credit Co shareholders approved Election of six trustees at the 2023-05-16 meeting.

“Proposal 1: Election of Trustees Votes regarding the election of six trustees, each of whom was elected for a term expiring at the 2024 annual meeting or until such time as his or her successor is elected and qualified, were as follows: For Withheld Broker Non-Votes Robert B. Allardice, III 2,900,199 905,340 5,767,410 Mary McBride 3,038,996 766,543 5,767,410 David J. Miller 2,908,089 897,450 5,767,410 Laurence E. Penn 3,638,189 167,350 5,767,410 Ronald I. Simon, Ph.D. 2,721,425 1,084,114 5,767,410 Michael W. Vranos 3,583,726 221,813 5,767,410”

Ellington Credit Co reported the quarter ended March 31, 2023 results: net income $2.3 million, or $0.17 per share, EPS $0.17 per share.

“On May 11, 2023, the Company issued a press release announcing its financial results for the quarter ended March 31, 2023.”

Ellington Credit Co reported the quarter ended December 31, 2022 results: net income $11.7 million, or $0.88 per share, EPS $0.88 per share.

“Ellington Residential Mortgage REIT Reports Fourth Quarter 2022 Results OLD GREENWICH, Connecticut—March 6, 2023 Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today reported financial results for the quarter ended December 31, 2022. Highlights • Net income of $11.7 million, or $0.88 per share.”

Ellington Credit Co: Adopted Second Amended and Restated Bylaws to update shareholder meeting provisions, board emergency quorum, committees, and exclusive forum (effective 2023-01-05).

“On January 5, 2023, the Board of Trustees (the “Board”) of Ellington Residential Mortgage REIT (the “Company”) approved and adopted the Company’s Second Amended and Restated Bylaws (the “Second Amended and Restated Bylaws”) to, among other things, update provisions relating to shareholder meetings to ensure compliance with federal proxy rules, including Rule 14a-19 under the Securities Exchange Act of 1934, as amended. The Second Amended and Restated Bylaws became effective upon adoption by the Board.”

Ellington Credit Co reported quarter ended September 30, 2022 results: net income Net loss of $(13.7) million, or $(1.04) per share., EPS $(1.04) per share.

“Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today reported financial results for the quarter ended September 30, 2022. Highlights • Net loss of $(13.7) million, or $(1.04) per share.”