Eagle Point Income Company Inc. Announces 13% Increase in Common Stock Distributions for Fourth Quarter 2023

Eagle Point Income Company Inc. (the “Company”) (NYSE: EIC, EICA, EICB) today is pleased to announce the declaration of distributions on shares of the Company’s common stock.

The Company has declared three separate distributions of $0.18 per share on its common stock payable on each of October 31, 2023, November 30, 2023 and December 29, 2023 to stockholders of record as of October 11, 2023, November 13, 2023 and December 11, 2023, respectively. This reflects an increase of 13% from the monthly distributions during the third quarter of 2023.

The following schedule applies to the distributions:

Distributions on common stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Company’s stockholders on Form 1099 after the end of the 2023 calendar year.

“Given our continued confidence in the Company’s outlook we are very pleased to increase our monthly common distribution by 13% to $0.18 per common share,” said Thomas Majewski, Chairman and Chief Executive Officer. “This is our seventh increase in common distributions since the end of 2020.”

“The Company’s carefully constructed portfolio remains well positioned to generate strong cash flows in the current elevated rate environment and we believe it will benefit should rates continue to increase,” added Daniel Ko, Principal and Portfolio Manager.

The Company is also pleased to announce the declaration of distributions on shares of the Company’s 5.00% Series A Term Preferred Stock due 2026 (the “Series A Term Preferred Stock”) and the Company’s 7.75% Series B Term Preferred Stock due 2028 (the “Series B Term Preferred Stock”) as follows:

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

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, 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.

The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (www.eaglepointincome.com). This information includes (1) an estimated range of the Company’s net investment income (“NII”) and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company’s net asset value (“NAV”) per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company’s NII and realized capital gains or losses per share for the applicable quarter, if available.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company’s other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

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