GREENWICH, Conn.--(BUSINESS WIRE)--May 28, 2025-- 

Eagle Point Income Company Inc. (the "Company") (NYSE: EIC, EICA, EICB, EICC) today announced financial results for the quarter ended March 31, 2025 and certain additional activity through April 30, 2025, and declared distributions on shares of the Company's common and preferred stock.

"We capitalized on the downturn in the latter part of Q1 by deploying capital into CLO debt at discounted prices," said Thomas P. Majewski, Chairman and Chief Executive Officer. "We are excited to see convexity return in the CLO debt market; we expect these discounted opportunities will offer upside as the market continues to recover."

"Earlier today, we declared monthly common distributions of $0.13 per share for the third quarter of 2025. In light of 100 basis points of Fed rate cuts over the past nine months, we believe the new distribution level more closely reflects the Company's near-term earnings potential in today's lower interest rate environment. Looking ahead, the Company has liquidity and will continue investing opportunistically during these volatile markets, which should enhance the Company's net investment income over time," concluded Mr. Majewski.

FIRST QUARTER 2025 RESULTS

   -- 
 Net asset value ("NAV") per common share of $14.16 as of March 31, 
      2025, compared to $14.99 as of December 31, 2024. 
 
 
   -- 
 Net investment income ("NII") and realized gains of $0.44 per weighted 
      average common share.1 This compares to $0.54 of NII and realized gains 
      per weighted average common share for the quarter ended December 31, 
      2024, and $0.56 of NII per weighted average common share for the quarter 
      ended March 31, 2024. 
 
 
   -- 
 GAAP net loss (inclusive of unrealized mark-to-market depreciation) of 
      $10.6 million, or $0.46 per weighted average common share. 
 
 
   -- 
 Received $16.5 million in recurring cash distributions2 from the 
      Company's investment portfolio or $0.71 per weighted average common share, 
      below the Company's aggregate distributions on its common stock and 
      operating costs for the quarter. 
 
 
   -- 
 Deployed $84.6 million in net capital into collateralized loan 
      obligation ("CLO") debt and equity and other investments. 
 
 
   -- 
 As of March 31, 2025: 
 
          -- 
 The weighted average effective yield of the Company's CLO debt 
             and equity portfolio, based on amortized cost, was 11.12%. This 
             compares to 12.13% as of December 31, 2024 and 13.28% as of March 
             31, 2024.3 
 
 
          -- 
 Weighted average expected yield of the Company's portfolio, 
             based on fair market value, was 12.76%. This compares to 12.95% as 
             of December 31, 2024 and 15.35% as of March 31, 2024.3 
 
 
 
 
   -- 
 Issued approximately 4.2 million shares of common stock, 120,291 shares 
      of the Company's 7.75% Series B Term Preferred Stock due 2028 (the 
      "Series B Term Preferred Stock") and 461,243 shares of the Company's 
      8.00% Series C Term Preferred Stock due 2029 (the "Series C Term 
      Preferred Stock") pursuant to the Company's "at-the-market" offering for 
      total net proceeds to the Company of approximately $78.4 million. The 
      common stock issuance resulted in $0.08 per share of NAV accretion for 
      the quarter ended March 31, 2025. 
 
 
   -- 
 As of March 31, 2025, the Company had outstanding preferred equity 
      securities which totaled approximately 29.0% of total assets (less 
      current liabilities).4 As of that date, the Company's revolving credit 
      facility was fully undrawn. 
 
 
   -- 
 As of March 31, 2025, on a look-through basis, and based on the most 
      recent CLO trustee reports received by such date: 
 
          -- 
 The Company, through its CLO investments, had indirect exposure 
             to approximately 1,466 unique corporate obligors. 
 
 
          -- 
 The largest look-through obligor represented 0.6% of the loans 
             underlying the Company's CLO debt and equity portfolio. 
 
 
          -- 
 The top-ten largest look-through obligors together represented 
             5.0% of the loans underlying the Company's CLO debt and equity 
             portfolio. 
 
 
 
 
   -- 
 GAAP net income was comprised of total investment income of $14.1 
      million and net realized gain on investments of $1.0 million, partially 
      offset by net unrealized appreciation on certain liabilities recorded at 
      fair value of $1.9 million, net unrealized depreciation on investments of 
      $18.9 million and financing costs and operating expenses of $4.9 
      million. 
 
 
   -- 
 Recorded other comprehensive income of $1.3 million. 
 

SECOND QUARTER 2025 PORTFOLIO ACTIVITY THROUGH APRIL 30, 2025 AND OTHER UPDATES

   -- 
 As previously published on the Company's website, management's estimate 
      of the range of the Company's NAV per common share is estimated to be 
      between $13.73 and $13.83 as of April 30, 2025. 
 
 
   -- 
 Received $16.7 million of recurring cash distributions from the 
      Company's investment portfolio. As of April 30, 2025, some of the 
      Company's investments had not yet reached their payment date for the 
      quarter. 
 
 
   -- 
 Deployed $12.9 million of net capital into CLO debt and equity and 
      other investments. 
 
 
   -- 
 As of April 30, 2025, the Company had $33.2 million of cash and 
      capacity on its revolving credit facility available for investment. 
 

THIRD QUARTER 2025 DISTRIBUTIONS

The Company has declared three separate monthly distributions of $0.13 per share on its common stock for the third quarter of 2025.(5) The following schedule applies to the distributions:

 
Amount per Common Share     Record Dates       Payable Dates 
-----------------------  ------------------  ------------------ 
         $0.13             July 11, 2025       July 31, 2025 
-----------------------  ------------------  ------------------ 
         $0.13            August 11, 2025     August 29, 2025 
-----------------------  ------------------  ------------------ 
         $0.13           September 10, 2025  September 30, 2025 
-----------------------  ------------------  ------------------ 
 

The Board of Directors considers a variety of factors when declaring monthly distributions, including but not limited to cash flow generated from the Company's investment portfolio, GAAP earnings and the Company's requirement to distribute substantially all of its taxable income.

The Company also announced the declaration of distributions on shares of the Company's 5.00% Series A Term Preferred Shares due 2026 (the "Series A Term Preferred Stock"), Series B Term Preferred Stock and Series C Term Preferred Stock as follows:

 
  Preferred Stock 
       Type          Amount per Share     Record Dates        Payable Dates 
-------------------  ----------------  ------------------  ------------------- 
                                         July 11, 2025 
                                        August 11, 2025       July 31, 2025 
   Series A Term                         September 10,       August 29, 2025 
  Preferred Stock       $0.104167             2025          September 30, 2025 
-------------------  ----------------  ------------------  ------------------- 
   Series B Term 
  Preferred Stock       $0.161459 
-------------------  ----------------  ------------------  ------------------- 
   Series C Term 
  Preferred Stock       $0.166667 
-------------------  ----------------  ------------------  ------------------- 
 

The distributions on the Series A Term Preferred Stock, Series B Term Preferred Stock and Series C Term Preferred Stock reflect an annual distribution rate of 5.00%, 7.75% and 8.00%, respectively, of the $25 liquidation preference per share.

CONFERENCE CALL

The Company will host a conference call at 11:30 a.m. (Eastern Time) today to discuss the Company's financial results for the quarter ended March 31, 2025, as well as a portfolio update.

All interested parties may participate in the conference call by dialing (877) 704-4453 (domestic) or (201) 389-0920 (international). Please reference Conference ID 13753091 when calling and you are invited to dial in approximately 10 to 15 minutes prior to the start of the call.

A live webcast will also be available on the Company's website (www.eaglepointincome.com). Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software.

An archived replay of the call will be available shortly afterwards until June 27, 2025. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13753091.

ADDITIONAL INFORMATION

The Company has made available on the investor relations section of its website, www.eaglepointincome.com (in the financial statements and reports section), its unaudited consolidated financial statements as of and for the period ended March 31, 2025. The Company has also filed this report with the U.S. Securities and Exchange Commission ("SEC"). The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio as of and for the quarter ended March 31, 2025.

ABOUT EAGLE POINT INCOME COMPANY

The Company is a diversified, closed-end management investment company. The Company's primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company seeks to achieve its investment objectives by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 35% of its total assets (at the time of investment) in CLO equity securities. The Company is externally managed and advised by Eagle Point Income Management LLC.

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