XAI Octagon Floating Rate & Alternative Income Trust — fact timeline

XAI Octagon Floating Rate & Alternative Income Trust: Eliminated the Non-Call Period applicable to the 6.95% Series II 2029 Convertible Preferred Shares (effective 2024-06-10).

“On December 29, 2025, the holders of the Trust’s 6.95% Series II 2029 Convertible Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the “6.95% Series II 2029 Convertible Preferred Shares”), adopted and approved Amendment No 1. to Appendix D, effective as of June 10, 2024, to the Trust’s Statement of Preferences of Term Preferred Shares, effective as of March 23, 2021 (the “Statement of Preferences”) establishing the preferences, voting powers, restrictions, limitations as to dividends and distributions, conversion privilege, qualifications and terms and conditions of redemption of the Trust’s 6.95% Series II 2029 Convertible Preferred Shares, in order to eliminate the Non-Call Period applicable to the 6.95% Series II 2029 Convertible Preferred Share, which Amendment No. 1 was accepted and approved by the Board of Trustees of the Trust.”

XAI Octagon Floating Rate & Alternative Income Trust issued 2,300,000 MRP Shares of preferred stock to Purchasers named in the Purchase Agreement for $10.00 per MRP Share.

“(the “Purchasers”), in connection with the issuance and sale of up to 7,300,000 shares of the Trust’s Series A Mandatory Redeemable Preferred Shares, liquidation preference of $10.00 (the “MRP Shares”), at a price equal to $10.00 per MRP Share, in two transactions exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933. On December”

XAI Octagon Floating Rate & Alternative Income Trust issued 5,000,000 MRP Shares of preferred stock to the Purchasers for $10.00 per share.

“On October 21, 2025, XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) (the “Trust”) entered into a securities purchase agreement (the “Purchase Agreement”) among the Trust and the purchasers named therein (the “Purchasers”), in connection with the issuance and sale of up to 7,300,000 shares of the Trust’s Series A Mandatory Redeemable Preferred Shares, liquidation preference of $10.00 (the “MRP Shares”), at a price equal to $10.00 per MRP Share, in two transactions exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 on October 21, 2025 (the “First Closing”) and December 18, 2025 (the “Second Closing”).”

XAI Octagon Floating Rate & Alternative Income Trust: Adopted Statement of Preferences establishing rights and preferences of Series A Mandatory Redeemable Preferred Shares (effective 2025-10-21).

“On October 21, 2025, the Trust adopted the Statement of Preferences of Mandatory Redeemable Preferred Shares (the “Statement of Preferences”) establishing and fixing the rights and preferences of the MRP Shares.”

XAI Octagon Floating Rate & Alternative Income Trust entered into Purchase Agreement with the purchasers named therein valued at $7.0485 per Common Share (effective 2024-02-01).

“On February 1, 2024, the XAI Octagon Floating Rate & Alternative Income Trust (formerly, XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) (the “Trust”) entered into a purchase agreement (the “Purchase Agreement”) between the Trust and the purchasers named therein (the “Purchasers”) in connection with the purchase and sale of common shares of beneficial interest, par value $0.01 per share, of the Trust (the “Common Shares”) in a registered direct placement (the “Offering”)”

William T. Meyers was appointed as interested trustee at XAI Octagon Floating Rate & Alternative Income Trust.

“The Board of Trustees of XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) has appointed William T. Meyers as an interested trustee, effective as of January 1, 2024.”

XAI Octagon Floating Rate & Alternative Income Trust: Adopted Appendix C to the Statement of Preferences to establish rights and preferences of Convertible Preferred Shares (effective 2023-10-06).

“On October 6, 2023, the Trust adopted Appendix C to the Statement of Preferences of Term Preferred Shares (the “Statement of Preferences”) establishing and fixing the rights and preferences of the Convertible Preferred Shares.”

XAI Octagon Floating Rate & Alternative Income Trust entered into Convertible Preferred Shares Purchase Agreement with Eagle Point Credit Management LLC and the purchasers named therein (effective 2023-11-06).

“On November 6, 2023, XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) (the “Trust”) entered into a purchase agreement (the “Convertible Preferred Shares Purchase Agreement”) between the Trust, Eagle Point Credit Management LLC and the purchasers named therein (the “Purchasers”), in connection with the issuance and sale of up to 1,200,000 shares of the Trust’s 6.95% Series 2029 Convertible Preferred Shares, liquidation preference of $25.00 (the “Convertible Preferred Shares”), at a price equal to $23.25 per Convertible Preferred Share, in one or more transactions exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 on or before May 6, 2025.”

XAI Octagon Floating Rate & Alternative Income Trust terminated DST Agreement with DST Systems, Inc..

“Equiniti replaced the Trust’s prior transfer agent, DST Systems, Inc. (“DST”) and accordingly, the services provided to the Trust by DST under the Trust’s transfer agency agreement with DST (the “DST Agreement”) were terminated effective that same day.”

XAI Octagon Floating Rate & Alternative Income Trust entered into Equiniti Agreement with Equiniti Trust Company, LLC (effective 2023-09-13).

“XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) (the “Trust”) has entered into a new Transfer Agency and Registrar Services Agreement (the “Equiniti Agreement”) with Equiniti Trust Company, LLC (“Equiniti”), which was formerly known as American Stock Transfer & Trust Company, LLC, pursuant to which Equiniti began serving as the Trust’s transfer agent and registrar effective September 13, 2023.”

XAI Octagon Floating Rate & Alternative Income Trust terminated ALPS Administration Agreement with ALPS Fund Services, Inc. valued at terminated effective September 25, 2023 (effective 2023-09-25).

“ookkeeping and pricing services agreement with ALPS (the “ALPS Administration Agreement”) were terminated effective that same day. The ALPS Administration Agreement will be terminated effective September 25, 2023.”

XAI Octagon Floating Rate & Alternative Income Trust entered into Administration and Fund Accounting Agreement with Paralel Technologies LLC valued at monthly fee equal to a percentage of the Trust’s average daily managed assets (effective 2023-08-28).

“XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) (the “Trust”) has entered into a new Administration and Fund Accounting Agreement the (“Paralel Agreement”) with Paralel Technologies LLC (“Paralel”) pursuant to which Paralel began serving as the Trust’s administrator effective August 28, 2023.”