Ellington Fiscal Inc. Announces Appointments to Board of Directors

Previous GREENWICH, Conn.–(Organization WIRE)–Jan 28, 2021–

Ellington Economical Inc. (NYSE: EFC) (“EFC” or the “Company”) right now introduced that Dr. Ronald I. Simon, an Impartial Director of the Enterprise given that 2007, has been appointed Chairman of the Board of Directors (the “Board”). Dr. Simon replaces Thomas F. Robards, who is stepping down from his function as Chairman and remains on the Board as an Impartial Director. In addition, Stephen J. Dannhauser, the former chairman of Weil, Gotshal & Manges LLP, has been appointed to the Board as an Unbiased Director, productive immediately.

“We are delighted to announce that Ronald Simon will now serve as our Chairman of the Board. Ron has deep understanding of the Company and has been an priceless asset as a Director of the Enterprise since its inception in 2007. We are also thrilled to welcome Stephen Dannhauser to our Board. Offered Steve’s deep abilities in company law and his a long time of practical experience advising company boards at Weil, we consider that he will include a beneficial new standpoint,” explained Laurence Penn, Main Govt Officer of EFC.

Dr. Simon additional, “I am honored to have been picked out to guide EFC’s Board. I search forward to performing with the EFC Board and management staff in this elevated part, and I am committed to currently being a superior steward for shareholders.”

Mr. Dannhauser concluded, “I am extremely thrilled to sign up for the Board of EFC. I think that I can insert benefit and an extra point of view to the Board as the Firm proceeds to improve. I appear forward to a vibrant upcoming for EFC.”

Prior to joining the Board, Mr. Dannhauser labored at Weil, Gotshal & Manges LLP (“Weil”) from 1975 until 2012. Mr. Dannhauser was named Weil’s government associate in 1989 and served as its chairman from 2001 to 2012. Mr. Dannhauser ongoing to get the job done at Weil in a consulting potential by 2015. In the course of his tenure at Weil, Mr. Dannhauser played a crucial purpose in crafting and executing business techniques that expanded Weil from its headquarters in New York to comprise 20 offices on a few continents. Through his tenure as chairman and govt husband or wife, Mr. Dannhauser expended the bulk of his time overseeing the business enterprise operations of the organization, setting up its platform and growing and deepening its shopper base. Mr. Dannhauser served as a director of Hydra Industries Acquisition Corp., a special function acquisition company, from October 2014 right up until December 2016. Mr. Dannhauser has been a member of the pursuing corporations, committees and boards: The Fellows of the American Bar Basis Fellow of The New York Bar Foundation ABA Legislation Business Professional Bono Task Advisory Committee The Countrywide Minority Organization Council NYC Bar Affiliation Committee to Enrich Range The Partnership for New York Town Chairman of the Board of Directors of The New York Police and Fire Widows’ and Children’s Advantage Fund Chairman of the Board of Administrators of Boys & Girls Harbor, Inc. Member of the Board of Administrators of Citizens Committee for New York City Member of the Board of Administrators of United Way of New York Metropolis Advisory Board Member, New York Requirements You and Honorary Member of the Honor Legion of the Police Section of the City of New York. Mr. Dannhauser graduated from the State University of New York at Stonybrook (B.A. with honors, 1972), and from Brooklyn Legislation School (J.D. with honors in 1975), in which he was a member and conclusions editor of the Brooklyn Law Evaluate (1973-1975). Mr. Dannhauser spends considerable time on a variety of pro bono and philanthropic issues. We believe that that Mr. Dannhauser is skilled to serve as a member of our board of administrators because of to his a lot of directorship roles, leadership practical experience, and business enterprise business contacts.

Cautionary Statements

This press release is made up of ahead-searching statements inside of the this means of the safe and sound harbor provisions of the Personal Securities Litigation Reform Act of 1995. Forward-looking statements involve a lot of challenges and uncertainties. The Company’s actual outcomes may well vary from its beliefs, expectations, estimates, and projections and, as a result, you should really not count on these ahead-hunting statements as predictions of foreseeable future functions. Forward-seeking statements are not historical in character and can be identified by terms these as “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “continue,” “intend,” “should,” “would,” “could,” “goal,” “objective,” “will,” “may,” “seek” or very similar expressions or their damaging kinds, or by references to approach, options, or intentions. Examples of forward-seeking statements in this press release involve statements regarding the Company’s board of administrators. The Company’s success can fluctuate from month to thirty day period and from quarter to quarter based on a wide variety of components, some of which are over and above the Company’s handle and/or are complicated to forecast, including, without the need of limitation, adjustments in curiosity rates and the sector worth of the Company’s securities, changes in house loan default fees and prepayment costs, the Company’s ability to borrow to finance its assets, modifications in federal government polices influencing the Company’s enterprise, the Company’s ability to retain its exclusion from registration underneath the Investment Business Act of 1940, the Company’s capability to maintain its qualification as a real estate financial commitment have faith in, or “REIT,” and other alterations in current market situations and financial traits, which includes modifications ensuing from the financial results associated to the COVID-19 pandemic, and connected responses to the pandemic. In addition, ahead-on the lookout statements are issue to threats and uncertainties, which include, amid other matters, all those explained below Merchandise 1A of the Company’s Once-a-year Report on Form 10-K filed on March 13, 2020 and Section II, Item 1A of the Company’s Quarterly Report on Sort 10-Q submitted on May 21, 2020, as amended, which can be accessed via the Company’s web page at www.ellingtonfinancial.com or at the SEC’s site ( www.sec.gov ). Other pitfalls, uncertainties, and components that could induce actual outcomes to differ materially from those people projected may be explained from time to time in reviews the Company documents with the SEC, like studies on Types 10-Q, 10-K and 8-K. The Organization undertakes no obligation to update or revise any forward-on the lookout statements, no matter if as a end result of new facts, potential occasions, or otherwise.

This release and the information contained herein do not represent an provide of any securities or solicitation of an present to purchase securities.

About Ellington Monetary

Ellington Monetary invests in a assorted array of fiscal assets, which include household and business house loan financial loans, residential and commercial house loan-backed securities, shopper financial loans and asset-backed securities backed by buyer loans, collateralized bank loan obligations, non-property finance loan and mortgage loan-related derivatives, equity investments in bank loan origination firms, and other strategic investments. Ellington Economical is externally managed and suggested by Ellington Economic Management LLC, an affiliate of Ellington Management Team, L.L.C.

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Make contact with: Traders:

Ellington Money Inc.

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(203) 409-3575

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Amanda Klein or Kevin FitzGerald

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for Ellington Economical

(212) 257-4170

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Resource: Ellington Monetary Inc.

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PUB: 01/28/2021 04:15 PM/DISC: 01/28/2021 04:15 PM

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