UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-34057 AGNC INVESTMENT CORP. (Exact name of registrant as specified in its charter) _________________________________________________________ Delaware 26-1701984 (State or O ...

Exhibit 99.1 AGNC Investment Corp. October 20, 2025 Page 2 ___________ 1. Represents a non-GAAP measure. Please refer to the Reconciliation of GAAP Comprehensive Income (Loss) to Net Spread and Dollar Roll Income and Use of Non-GAAP Financial Information included in this release for additional information. 2. Please refer to Net Interest Spread Components by Funding Source included in this release for additional information regarding the Company's annualized net interest spread. CONTACT: Investors - (301) 9 ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements for AGNC Investment Corp. as of June 30, 2025, and for the three and six-month periods then ended, detail the company's financial position and performance [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) The Consolidated Balance Sheets reflect an increase in total assets, liabilities, and stockholders' equity as of June 30, 2025, driven by growth in Agency securities and repurchase agreements Consolidated Balance Sheet Summary (in millions) | Account | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$102,021** | **$88,015** | | Agency securities, at fair value | $73,232 | $65,367 | | Receivable under reverse repurchase agreements | $21,362 | $17,137 | | **Total Liabilities** | **$91,674** | **$78,253** | | Repurchase agreements | $69,153 | $60,798 | | Obligation to return securities borrowed | $21,305 | $16,676 | | **Total Stockholders' Equity** | **$10,347** | **$9,762** | [Consolidated Statements of Comprehensive Income](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) The Consolidated Statements of Comprehensive Income show a net loss for both the three and six months ended June 30, 2025, primarily due to significant net losses on derivative instruments Statement of Comprehensive Income Summary (in millions, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income (Expense) | $162 | $(3) | $321 | $(33) | | Total Other Gain (Loss), Net | $(274) | $(21) | $(355) | $476 | | Net Income (Loss) | $(140) | $(48) | $(90) | $395 | | Comprehensive Income (Loss) | $(92) | $(66) | $51 | $300 | | Net Income (Loss) per Common Share - Diluted | $(0.17) | $(0.11) | $(0.17) | $0.46 | | Dividends Declared per Common Share | $0.36 | $0.36 | $0.72 | $0.72 | [Notes to Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed disclosures on the company's organization, significant accounting policies, and specifics on financial statement line items - The company invests primarily in **Agency residential mortgage-backed securities (Agency RMBS)** with principal and interest guaranteed by a U.S. GSE or Government agency, funding these investments mainly through collateralized borrowings structured as **repurchase agreements**[21](index=21&type=chunk) - AGNC operates as a **real estate investment trust (REIT)**, requiring it to distribute at least **90% of its taxable income** to stockholders annually to generally avoid corporate income tax[22](index=22&type=chunk) - The company uses a variety of **derivative instruments** to hedge market risks, including **interest rate swaps**, **swaptions**, **U.S. Treasury securities**, and **TBA securities**, with changes in fair value reported in earnings as these are not designated as accounting hedges[38](index=38&type=chunk)[39](index=39&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance and condition, highlighting significant market volatility during Q2 2025 which led to underperformance of Agency RMBS and a negative economic return [Executive Overview](index=26&type=section&id=Executive%20Overview) In Q2 2025, significant market volatility led to Agency RMBS underperformance, resulting in a -1.0% economic loss on tangible common equity for AGNC Q2 2025 Performance Summary | Metric | Value | | :--- | :--- | | Economic Return on Tangible Common Equity | -1.0% | | Comprehensive Loss per Diluted Common Share | $(0.13) | | Dividends Declared per Common Share | $0.36 | | Decrease in Tangible Net Book Value per Share | $(0.44) | - The company raised **$799 million** of accretive capital through its **At-the-Market (ATM) offering program** during the second quarter[130](index=130&type=chunk) - Tangible 'at risk' leverage was **7.6x** at quarter-end, and the company maintained a strong liquidity position of **$6.4 billion** in unencumbered cash and Agency RMBS, representing **65% of tangible equity**[130](index=130&type=chunk) [Financial Condition](index=30&type=section&id=Financial%20Condition) AGNC's total investment portfolio grew to **$82.3 billion** as of June 30, 2025, primarily concentrated in fixed-rate Agency RMBS and TBA securities Investment Portfolio Composition (in billions) | Investment Type | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Agency RMBS | $73.3 | $65.5 | | Net TBA securities | $8.3 | $6.9 | | CRT, non-Agency RMBS & CMBS | $0.7 | $0.9 | | Other mortgage credit investments | $0.1 | $0.1 | | **Total Investment Portfolio** | **$82.3** | **$73.3** | [Results of Operations](index=32&type=section&id=Results%20of%20Operations) This section provides a detailed analysis of operating results, heavily utilizing non-GAAP measures to explain performance Net Spread and Dollar Roll Income per Share (Non-GAAP) | Period | Per Common Share - Diluted | | :--- | :--- | | Q2 2025 | $0.38 | | Q2 2024 | $0.53 | | H1 2025 | $0.81 | | H1 2024 | $1.11 | Net Interest Spread (Non-GAAP) | Period | Average Net Interest Spread | | :--- | :--- | | Q2 2025 | 2.01% | | Q2 2024 | 2.69% | | H1 2025 | 2.07% | | H1 2024 | 2.83% | - Tangible net book value 'at risk' leverage ended Q2 2025 at **7.6:1**, up slightly from **7.5:1** at the end of Q1 2025 and **7.2:1** at year-end 2024[169](index=169&type=chunk) [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) Management asserts that the company has sufficient liquidity and capital, with primary sources being unencumbered assets, repurchase agreements, and TBA dollar roll financing - As of June 30, 2025, unencumbered assets totaled approximately **$6.5 billion**, consisting of **$6.4 billion** in cash and unencumbered Agency RMBS and **$0.1 billion** in unencumbered credit assets, representing **66% of tangible equity**[206](index=206&type=chunk) - Total mortgage borrowings stood at **$74.2 billion** as of June 30, 2025, with **89%** from repurchase agreements and other debt, and **11%** from TBA and forward settling securities[193](index=193&type=chunk) - The weighted average haircut and initial margin on repurchase agreements was approximately **3.0%** as of June 30, 2025, down from **3.2%** at year-end 2024[205](index=205&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section details the primary market risks AGNC is exposed to, including interest rate, prepayment, spread, liquidity, and credit risks Interest Rate Sensitivity on Tangible Net Book Value Per Common Share (as of June 30, 2025) | Change in Interest Rate | Estimated Change in Tangible Net Book Value Per Common Share | | :--- | :--- | | -75 Basis Points | -3.1% | | -50 Basis Points | -0.7% | | +25 Basis Points | -1.2% | | +50 Basis Points | -3.2% | | +75 Basis Points | -6.5% | MBS Spread Sensitivity on Tangible Net Book Value Per Common Share (as of June 30, 2025) | Change in MBS Spread | Estimated Change in Tangible Net Book Value Per Common Share | | :--- | :--- | | -50 Basis Points | +26.1% | | -25 Basis Points | +13.1% | | +10 Basis Points | -5.2% | | +25 Basis Points | -13.1% | | +50 Basis Points | -26.1% | - The company's estimated duration gap, a measure of the difference in interest rate sensitivity between its assets and liabilities (including hedges), was **0.2 years** as of June 30, 2025[223](index=223&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures as of June 30, 2025, and concluded that they were effective - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2025[245](index=245&type=chunk) - **No material changes** to the internal control over financial reporting occurred during the last fiscal quarter[246](index=246&type=chunk) [PART II. OTHER INFORMATION](index=49&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is not currently subject to any material litigation, nor is any material litigation threatened against it, other than routine proceedings arising in the ordinary course of business - AGNC is **not subject to any material litigation** as of the reporting date[248](index=248&type=chunk) [Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024 - **No material changes** to risk factors were reported for the quarter[249](index=249&type=chunk) [Other Information](index=49&type=section&id=Item%205.%20Other%20Information) This section discloses that on May 15, 2025, Peter Federico, the company's President, CEO, and CIO, adopted a Rule 10b5-1 trading arrangement for the potential sale of up to 137,393 shares of common stock, set to expire on November 26, 2025 - On May 15, 2025, CEO Peter Federico adopted a **Rule 10b5-1 trading plan** for the sale of up to **137,393 shares** of common stock, expiring November 26, 2025[253](index=253&type=chunk) [Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section provides an index of the exhibits filed with the Form 10-Q, including corporate governance documents, instruments defining the rights of security holders, and certifications by the CEO and CFO as required by the Sarbanes-Oxley Act - The exhibit list includes the company's **Code of Ethics and Conduct**, adopted July 17, 2025, and certifications from the CEO and CFO pursuant to **Sections 302(a) and 906 of the Sarbanes-Oxley Act**[254](index=254&type=chunk)[256](index=256&type=chunk)

Bethesda, MD - July 21, 2025 - AGNC Investment Corp. ("AGNC" or the "Company") (Nasdaq: AGNC) today announced financial results for the quarter ended June 30, 2025. SECOND QUARTER 2025 FINANCIAL HIGHLIGHTS OTHER SECOND QUARTER HIGHLIGHTS • $(0.13) comprehensive loss per common share, comprised of: ◦ $(0.17) net loss per common share ◦ $0.05 other comprehensive income ("OCI") per common share on investments marked-to- market through OCI • $0.38 net spread and dollar roll income per common share 1 ◦ Excludes ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-34057 AGNC INVESTMENT CORP. (Exact name of registrant as specified in its charter) _________________________________________________________ Delaware 26-1701984 (State or Ot ...

Exhibit 99.1 FOR IMMEDIATE RELEASE April 21, 2025 CONTACT: Investors - (301) 968-9300 Media - (301) 968-9303 AGNC INVESTMENT CORP. ANNOUNCES FIRST QUARTER 2025 FINANCIAL RESULTS Bethesda, MD - April 21, 2025 - AGNC Investment Corp. ("AGNC" or the "Company") (Nasdaq: AGNC) today announced financial results for the quarter ended March 31, 2025. FIRST QUARTER 2025 FINANCIAL HIGHLIGHTS OTHER FIRST QUARTER HIGHLIGHTS • $0.12 comprehensive income per common share, comprised of: ◦ $0.02 net income per common share ...

[Part I](index=4&type=section&id=PART%20I) [Business](index=4&type=section&id=Item%201.%20Business) AGNC Investment Corp. is a REIT primarily investing in leveraged Agency RMBS, aiming for stockholder returns through dividends from net interest spread - The company's core business is investing in Agency RMBS, where principal and interest are guaranteed by U.S. Government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac, or a U.S. Government agency like Ginnie Mae[12](index=12&type=chunk) - AGNC operates as a REIT, requiring it to distribute at least **90% of its annual taxable income** to stockholders, which generally exempts it from corporate income tax[13](index=13&type=chunk) - The primary funding source for its investments is collateralized borrowings structured as repurchase agreements (repo), which are typically short-term[14](index=14&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) - The company generally targets a leverage ratio of **six to twelve times its tangible stockholders' equity**, though this can vary with market conditions[23](index=23&type=chunk) - As of December 31, 2024, the company had **53 full-time employees**, with a workforce composition of **40% women** and **32% ethnically diverse individuals**[37](index=37&type=chunk)[43](index=43&type=chunk) [Risk Factors](index=9&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including spread, interest rate, and prepayment volatility, financing and operational challenges, and regulatory compliance issues [Risks Related to Our Investment and Portfolio Management Activities](index=9&type=section&id=Risks%20Related%20to%20Our%20Investment%20and%20Portfolio%20Management%20Activities) This section details risks associated with investment and portfolio management, including spread risk, Federal Reserve actions, prepayment rates, and model reliance - As a levered investor in Agency RMBS, the company is inherently exposed to **"spread risk,"** where a widening differential between asset yields and hedging benchmarks can cause tangible net book value to decline[49](index=49&type=chunk) - The Federal Reserve's actions in the Agency RMBS market, such as asset purchases (QE) or reductions (QT), can materially impact mortgage market conditions, pricing, and returns, affecting the company's tangible net book value[55](index=55&type=chunk)[56](index=56&type=chunk) - Changes in mortgage prepayment rates, which are difficult to predict, can adversely affect investment returns; faster prepayments may lead to reinvestment at lower yields, while slower prepayments (extension risk) can increase financing costs[60](index=60&type=chunk)[62](index=62&type=chunk)[64](index=64&type=chunk) - The company relies on analytical models and third-party data for valuation, risk management, and hedging, which may be incorrect, misleading, or incomplete, leading to faulty decisions and potential losses[65](index=65&type=chunk)[66](index=66&type=chunk) [Risks Related to Our Financing and Hedging Activities](index=13&type=section&id=Risks%20Related%20to%20Our%20Financing%20and%20Hedging%20Activities) This section covers risks from significant leverage, reliance on short-term funding, margin calls, and the potential ineffectiveness of hedging strategies - The company's strategy involves significant leverage, typically **6x to 12x tangible equity**, which amplifies risks from higher borrowing costs, asset value changes, and margin calls[80](index=80&type=chunk) - Reliance on short-term borrowings (repurchase agreements) creates a continuous need to renew or replace funding, which may not be available on favorable terms, or at all[81](index=81&type=chunk) - Funding and derivative agreements subject the company to margin calls if collateral values decline; failure to meet a margin call could result in default and forced asset sales under adverse market conditions[85](index=85&type=chunk)[87](index=87&type=chunk) - Hedging strategies are complex, may be ineffective, and are not designed to protect against all risks, such as spread risk; poorly designed or executed hedges could increase the risk of loss[97](index=97&type=chunk)[98](index=98&type=chunk) [Risks Related to Our Business Operations](index=17&type=section&id=Risks%20Related%20to%20Our%20Business%20Operations) This section addresses operational risks, including dependence on key personnel and vulnerabilities related to information systems and cybersecurity threats - The company's success is highly dependent on its executive officers and key personnel; the departure of any could materially harm operations[100](index=100&type=chunk) - Business operations are heavily reliant on information systems and third-party providers, exposing the company to disruptions from system failures or cybersecurity incidents like hacking, ransomware, and phishing attacks[101](index=101&type=chunk)[102](index=102&type=chunk) [Risks Related to Our Taxation as a REIT](index=17&type=section&id=Risks%20Related%20to%20Our%20Taxation%20as%20a%20REIT) This section details risks concerning the company's REIT tax status, including adverse tax consequences from non-compliance and limitations on capital retention - Failure to maintain qualification as a REIT would result in significant adverse tax consequences, including being subject to corporate income tax and losing the ability to deduct dividends paid[104](index=104&type=chunk)[105](index=105&type=chunk) - The requirement to distribute at least **90% of taxable income** annually limits the company's ability to retain earnings and replenish capital from operations[107](index=107&type=chunk) - Compliance with REIT asset and income tests may cause the company to liquidate or forgo otherwise attractive investment opportunities and can limit its ability to hedge effectively[112](index=112&type=chunk)[113](index=113&type=chunk) [Legislative and Regulatory Risks](index=20&type=section&id=Legislative%20and%20Regulatory%20Risks) This section outlines risks from potential federal housing finance reform, loss of Investment Company Act exemption, and regulatory compliance for its broker-dealer subsidiary - Potential federal housing finance reform, especially changes to the conservatorship of Fannie Mae and Freddie Mac, could adversely affect the value and liquidity of Agency RMBS and harm the business[121](index=121&type=chunk)[124](index=124&type=chunk) - Losing the exemption from regulation under the Investment Company Act would substantially reduce the company's ability to use leverage and force a restructuring of its business[128](index=128&type=chunk)[129](index=129&type=chunk) - Failure of the company's captive broker-dealer subsidiary (BES) to meet regulatory requirements could result in the inability to access significant tri-party repo funding through the FICC's GCF Repo service[127](index=127&type=chunk) [Risks Related to Our Common Stock](index=22&type=section&id=Risks%20Related%20to%20Our%20Common%20Stock) This section addresses risks related to the company's common stock, including market price volatility, dividend uncertainty, and ownership limitations - The market price and trading volume of the company's common stock may be highly volatile and subject to wide fluctuations[131](index=131&type=chunk) - The company has not established a minimum dividend payment level and may be unable to pay dividends in the future, as distributions are at the discretion of the Board[132](index=132&type=chunk) - To comply with REIT rules, the company's certificate of incorporation generally prohibits any person from owning more than **9.8%** of its common or capital stock[133](index=133&type=chunk) [Unresolved Staff Comments](index=23&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the Securities and Exchange Commission - None[134](index=134&type=chunk) [Cybersecurity](index=23&type=section&id=Item%201C.%20Cybersecurity) AGNC maintains a NIST-aligned cybersecurity program with Board oversight, reporting no material incidents affecting operations or financial condition to date - The company's cybersecurity program is aligned with the NIST Cybersecurity Framework and is subject to regular reviews and testing[135](index=135&type=chunk) - The Audit Committee of the Board of Directors is responsible for overseeing management's strategy to address cybersecurity risks, receiving quarterly reports on the matter[140](index=140&type=chunk) - To date, the company has not identified any cybersecurity incidents that have materially affected, or are reasonably likely to materially affect, its operations, business strategy, or financial condition[137](index=137&type=chunk) [Properties](index=24&type=section&id=Item%202.%20Properties) The company reports that it does not own any properties - None[142](index=142&type=chunk) [Legal Proceedings](index=24&type=section&id=Item%203.%20Legal%20Proceedings) The company is not currently subject to any material litigation or threatened proceedings beyond routine business matters - The company is not currently subject to any material litigation[143](index=143&type=chunk) [Mine Safety Disclosures](index=24&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[144](index=144&type=chunk) [Part II](index=25&type=section&id=PART%20II) [Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=25&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) AGNC common stock trades on Nasdaq, with monthly dividends planned, and its performance graph shows outperformance against the mortgage REIT index but underperformance against the S&P 500 - As of January 31, 2025, there were **900,421,216 shares of common stock** outstanding[146](index=146&type=chunk) Performance Graph (Cumulative Total Return of $100 Investment) | | 2024 | 2023 | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | :--- | :--- | | **AGNC Investment Corp.** | $97.05 | $89.13 | $81.01 | $103.51 | $98.36 | | **S&P 500** | $196.85 | $157.48 | $124.73 | $152.34 | $118.39 | | **FTSE NAREIT Mortgage REITs** | $79.80 | $79.52 | $68.94 | $93.93 | $81.23 | - The table reflects the cumulative total return of a **$100 investment** made on December 31, 2019, including dividend reinvestment[151](index=151&type=chunk)[154](index=154&type=chunk) [Selected Financial Data](index=26&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved and contains no information - Item 6 is noted as [Reserved][156](index=156&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, noting a **13.2% economic return** in 2024, portfolio growth to **$73.3 billion**, and a decrease in net spread income per share due to higher hedging costs [Executive Overview](index=27&type=section&id=Executive%20Overview) This overview highlights the company's **13.2% economic return** in 2024, changes in comprehensive and net spread income, and its leverage ratio and capital raising activities - In 2024, AGNC generated a positive economic return of **13.2%**, consisting of **$1.44 per share in dividends** and a **$0.29 per share decline in tangible net book value**[161](index=161&type=chunk) Key Financial Metrics | Metric | 2024 | 2023 | | :--- | :--- | :--- | | **Total Comprehensive Income per Share** | $0.84 | $0.30 | | **Net Spread and Dollar Roll Income per Share** | $1.88 | $2.61 | | **Average Net Interest Rate Spread** | 2.42% | 3.06% | - The company's average and ending "at risk" leverage for 2024 was **7.2x tangible stockholders' equity**[170](index=170&type=chunk) - During 2024, AGNC raised **$2.0 billion of common stock** through its at-the-market (ATM) offering program[171](index=171&type=chunk) [Financial Condition](index=31&type=section&id=Financial%20Condition) This section details the company's investment portfolio composition and growth, including Agency RMBS, TBA securities, and other investments, along with changes in weighted average coupon rates Investment Portfolio (in billions) | Investment Portfolio (in billions) | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Investment Portfolio** | $73.3 | $60.2 | | Agency RMBS (fair value) | $65.5 | $53.8 | | Net TBA securities (fair value) | $6.9 | $5.4 | | CRT, non-Agency & CMBS (fair value) | $0.9 | $1.0 | - The weighted average coupon on the company's fixed-rate Agency RMBS and TBA securities increased from **4.83%** at year-end 2023 to **5.02%** at year-end 2024[178](index=178&type=chunk) [Results of Operations](index=34&type=section&id=Results%20of%20Operations) This section presents key financial results, including total assets, stockholders' equity, comprehensive income, dividends, and non-GAAP metrics like net interest spread and economic return Selected Financial Data (in millions, except per share) | Selected Financial Data (in millions, except per share) | 2024 | 2023 | | :--- | :--- | :--- | | **Total Assets** | $88,015 | $71,596 | | **Total Stockholders' Equity** | $9,762 | $8,257 | | **Tangible Net Book Value per Common Share** | $8.41 | $8.70 | | **Comprehensive Income per Common Share** | $0.84 | $0.30 | | **Dividends Declared per Common Share** | $1.44 | $1.44 | Non-GAAP Metrics | Non-GAAP Metrics | 2024 | 2023 | | :--- | :--- | :--- | | **Average Net Interest Spread** | 2.42% | 3.06% | | **Net Spread and Dollar Roll Income per Share** | $1.88 | $2.61 | | **Economic Return on Tangible Common Equity** | 13.2% | 3.0% | - The average tangible net book value "at risk" leverage ratio was **7.2:1** for 2024, compared to **7.4:1** for 2023[201](index=201&type=chunk)[205](index=205&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) This section describes the company's liquidity sources, including unencumbered assets and repurchase agreements, and details its leverage ratio and funding through FICC's GCF Repo service - Primary sources of liquidity include unencumbered cash and securities, repurchase agreements, and TBA dollar roll financing[238](index=238&type=chunk) Liquidity & Leverage | Liquidity & Leverage | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Tangible Net Book Value "At Risk" Leverage** | 7.2x | 7.0x | | **Unencumbered Assets** | $6.2 billion | $5.2 billion | | **Unencumbered Assets as % of Tangible Equity** | 67% | 67% | - As of December 31, 2024, **47% of total repurchase agreements** were funded through the Fixed Income Clearing Corporation's (FICC) GCF Repo service[241](index=241&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section details the company's market risks, including interest rate, prepayment, and spread risks, providing sensitivity analyses on tangible net book value for hypothetical changes in rates and spreads - The company's estimated duration gap, a measure of interest rate sensitivity, was **0.3 years** as of December 31, 2024, an increase from **-0.5 years** at the end of 2023[267](index=267&type=chunk) Interest Rate Sensitivity Analysis (as of Dec 31, 2024) | Change in Interest Rate | Estimated Change in Tangible Net Book Value Per Common Share | | :--- | :--- | | -75 Basis Points | -0.9% | | +25 Basis Points | -1.1% | | +75 Basis Points | -4.8% | Spread Sensitivity Analysis (as of Dec 31, 2024) | Change in MBS Spread | Estimated Change in Tangible Net Book Value Per Common Share | | :--- | :--- | | -25 Basis Points | +12.3% | | +25 Basis Points | -12.3% | | +50 Basis Points | -24.5% | [Financial Statements](index=49&type=section&id=Item%208.%20Financial%20Statements) This section presents management's assertion of effective internal controls, the independent auditor's unqualified opinion, and the consolidated financial statements with accompanying notes [Management's Report on Internal Control over Financial Reporting](index=49&type=section&id=Management%27s%20Report%20on%20Internal%20Control%20over%20Financial%20Reporting) Management assessed the company's internal control over financial reporting as effective based on the COSO framework as of December 31, 2024 - Management assessed the company's internal control over financial reporting as effective as of December 31, 2024, based on the COSO framework[292](index=292&type=chunk) [Report of Independent Registered Public Accounting Firm](index=50&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) Ernst & Young LLP issued an unqualified opinion on the consolidated financial statements and identified the estimation of long-term prepayment speeds as a critical audit matter - Ernst & Young LLP issued an unqualified opinion on the consolidated financial statements for the year ended December 31, 2024[305](index=305&type=chunk) - The auditor identified the estimation of long-term prepayment speeds for the amortization of premiums on mortgage-backed securities as a critical audit matter due to the significant judgments involved[309](index=309&type=chunk)[310](index=310&type=chunk) [Consolidated Financial Statements](index=53&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's Consolidated Balance Sheets and Income Statements, highlighting key financial figures for assets, liabilities, equity, and comprehensive income Consolidated Balance Sheet Highlights (in millions) | | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | $88,015 | $71,596 | | **Total Liabilities** | $78,253 | $63,339 | | **Total Stockholders' Equity** | $9,762 | $8,257 | Consolidated Income Statement Highlights (in millions) | | 2024 | 2023 | 2022 | | :--- | :--- | :--- | :--- | | **Net Interest Income (Expense)** | $18 | $(246) | $965 | | **Net Income (Loss)** | $863 | $155 | $(1,190) | | **Comprehensive Income (Loss)** | $789 | $310 | $(2,163) | [Notes to Consolidated Financial Statements](index=57&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed notes to the consolidated financial statements, covering investment portfolio composition, repurchase agreements, hedging instruments, and common stock issuances - As of December 31, 2024, the investment portfolio consisted of **$66.3 billion in investment securities** and **$6.9 billion in net TBA securities**[367](index=367&type=chunk) - The company had **$60.8 billion in repurchase agreements** outstanding as of December 31, 2024, with a weighted average interest rate of **4.76%** and a weighted average of **11 days to maturity**[382](index=382&type=chunk)[384](index=384&type=chunk) - As of December 31, 2024, the company held interest rate swaps with a total notional amount of **$39.6 billion** to hedge its interest rate risk[388](index=388&type=chunk) - During fiscal year 2024, the company issued **202.1 million shares of common stock** under its at-the-market (ATM) program, raising net proceeds of **$1.967 billion**[432](index=432&type=chunk)[433](index=433&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=81&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[456](index=456&type=chunk) [Controls and Procedures](index=81&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of December 31, 2024, with no material changes in internal control - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of December 31, 2024[458](index=458&type=chunk) - There were no changes in internal control over financial reporting during the last fiscal quarter that materially affected, or are reasonably likely to materially affect, internal controls[459](index=459&type=chunk) [Other Information](index=81&type=section&id=Item%209B.%20Other%20Information) The company reports no directors or officers adopted or terminated Rule 10b5-1 trading arrangements during the fourth quarter of 2024 - No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the quarter ended December 31, 2024[460](index=460&type=chunk) [Part III](index=81&type=section&id=PART%20III) [Directors, Executive Officers and Corporate Governance](index=81&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2025 Proxy Statement - Information for this item is incorporated by reference from the Registrant's definitive proxy statement for the 2025 Annual Meeting of Stockholders[462](index=462&type=chunk) [Executive Compensation](index=82&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the 2025 Proxy Statement - Information for this item is incorporated by reference from the 2025 Proxy Statement[463](index=463&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=82&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership is incorporated by reference from the 2025 Proxy Statement - Information for this item is incorporated by reference from the 2025 Proxy Statement[463](index=463&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=82&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information regarding related party transactions and director independence is incorporated by reference from the 2025 Proxy Statement - Information for this item is incorporated by reference from the 2025 Proxy Statement[464](index=464&type=chunk) [Principal Accounting Fees and Services](index=82&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information regarding principal accounting fees and services is incorporated by reference from the 2025 Proxy Statement - Information for this item is incorporated by reference from the 2025 Proxy Statement[464](index=464&type=chunk) [Part IV](index=83&type=section&id=PART%20IV) [Exhibits and Financial Statement Schedules](index=83&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all financial statements and exhibits filed with the Form 10-K, including corporate governance documents, material contracts, and certifications - This section lists all financial statements and exhibits filed with the Form 10-K, including consents of experts and certifications by the CEO and CFO[466](index=466&type=chunk)[467](index=467&type=chunk)

Exhibit 99.1 FOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS FOR IMMEDIATE RELEASE January 27, 2025 CONTACT: Investors - (301) 968-9300 Media - (301) 968-9303 AGNC INVESTMENT CORP. ANNOUNCES FOURTH QUARTER 2024 FINANCIAL RESULTS Bethesda, MD - January 27, 2025 - AGNC Investment Corp. ("AGNC" or the "Company") (Nasdaq: AGNC) today announced financial results for the quarter ended December 31, 2024. OTHER FOURTH QUARTER HIGHLIGHTS • $(0.11) comprehensive loss per common share, comprised of: ◦ $0.10 net income per co ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements, showing significant asset growth and a return to profitability [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to $89.6 billion, driven by an increase in Agency securities and funded by higher repurchase agreement liabilities Consolidated Balance Sheets | | September 30, 2024 (Unaudited) | December 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | $89,590 million | $71,596 million | | Agency securities, at fair value | $67,938 million | $53,673 million | | **Total Liabilities** | $79,934 million | $63,339 million | | Repurchase agreements | $65,979 million | $50,426 million | | **Total Stockholders' Equity** | $9,656 million | $8,257 million | [Consolidated Statements of Comprehensive Income](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) The company reported a net income of $346 million for Q3 2024, a significant turnaround from a net loss in the prior-year period Q3 Comprehensive Income | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Net Interest Income (Expense) | ($64 million) | ($53 million) | | Total Other Gain (Loss), Net | $440 million | ($316 million) | | **Net Income (Loss)** | **$346 million** | **($392 million)** | | Net Income (Loss) Available to Common Stockholders | $313 million | ($423 million) | | **Net Income (Loss) per Common Share - Diluted** | **$0.39** | **($0.68)** | | Comprehensive Income (Loss) | $546 million | ($605 million) | | Dividends Declared per Common Share | $0.36 | $0.36 | Nine-Month Comprehensive Income | Metric | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Net Interest Income (Expense) | ($97 million) | ($220 million) | | **Net Income (Loss)** | **$741 million** | **($257 million)** | | Net Income (Loss) Available to Common Stockholders | $645 million | ($349 million) | | **Net Income (Loss) per Common Share - Diluted** | **$0.86** | **($0.58)** | [Notes to Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Details the company's investment portfolio growth, financing via repurchase agreements, and significant equity raising activities - The company is an internally managed REIT primarily investing in Agency residential mortgage-backed securities (Agency RMBS), funded mainly through collateralized borrowings structured as repurchase agreements[23](index=23&type=chunk)[25](index=25&type=chunk) Investment Securities | Investment Securities (Fair Value) | September 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total Agency RMBS | $68,044 million | $53,794 million | | CRT securities | $620 million | $723 million | | **Total Investment Securities** | **$68,937 million** | **$54,824 million** | Repurchase Agreements | Repurchase Agreements | September 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Outstanding** | **$65,979 million** | **$50,426 million** | | Weighted Average Interest Rate | 5.22% | 5.60% | | Weighted Average Days to Maturity | 14 | 19 | - During the nine months ended September 30, 2024, the company sold **149.0 million shares** of common stock under its At-the-Market (ATM) offering program for net proceeds of **$1,456 million**[122](index=122&type=chunk) - Subsequent to the quarter end, the company amended its ATM program to authorize sales up to **$1.5 billion** and established a new **$1 billion stock repurchase plan**[124](index=124&type=chunk)[125](index=125&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a strong quarterly economic return of 9.3% driven by a favorable shift in Federal Reserve monetary policy [Executive Overview](index=27&type=section&id=Executive%20Overview) The company generated a 9.3% economic return on tangible common equity amid a favorable shift in Federal Reserve monetary policy - Generated an **economic return on tangible common equity per share of 9.3%** for Q3 2024, consisting of $0.36 of dividends and a $0.42 (5%) increase in tangible net book value per common share[131](index=131&type=chunk) - The Federal Reserve's rate cut in September marked the end of an extended period of monetary policy restraint, leading to declining Treasury rates[130](index=130&type=chunk) - **Net spread and dollar roll income per diluted common share** (a non-GAAP measure) declined by $0.10 to **$0.43 per share** in Q3, driven by a shift in hedging strategy[138](index=138&type=chunk) [Financial Condition](index=31&type=section&id=Financial%20Condition) The investment portfolio grew to $73.1 billion, with a continued heavy concentration in fixed-rate Agency RMBS and TBA securities Investment Portfolio | Investment Portfolio (Fair Value) | September 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Agency RMBS | $68.0 billion | $53.8 billion | | Net TBA securities | $4.1 billion | $5.4 billion | | CRT, non-Agency RMBS & CMBS | $0.9 billion | $1.0 billion | | **Total Investment Portfolio** | **$73.1 billion** | **$60.2 billion** | [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Analyzes operating results using non-GAAP measures, reporting an average net interest spread of 2.21% for the quarter - The company uses non-GAAP measures such as "economic interest income" and "net spread and dollar roll income" to provide greater transparency into financial performance[156](index=156&type=chunk)[159](index=159&type=chunk) Net Interest Spread (Non-GAAP) | Net Interest Spread (Non-GAAP) | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Average Asset Yield | 4.73% | 4.20% | | Average Aggregate Cost of Funds | (2.52)% | (1.17)% | | **Average Net Interest Spread** | **2.21%** | **3.03%** | Net Spread and Dollar Roll Income (Non-GAAP) | Net Spread and Dollar Roll Income (Non-GAAP) | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Total Amount** | **$345 million** | **$403 million** | | **Per Diluted Common Share** | **$0.43** | **$0.65** | [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained a strong liquidity position with $6.3 billion in unencumbered assets and a tangible net book value "at risk" leverage of 7.2x - Tangible net book value "at risk" leverage was **7.2x** as of September 30, 2024, compared to 7.0x as of December 31, 2023[203](index=203&type=chunk) - As of September 30, 2024, unencumbered assets totaled approximately **$6.3 billion**, or **69% of tangible equity**, an increase from $5.2 billion at year-end 2023[215](index=215&type=chunk) - The weighted average haircut on repurchase agreements was **2.9%** as of September 30, 2024, a slight decrease from 3.1% at the end of 2023[214](index=214&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Outlines primary market risks, including sensitivity analyses for interest rate and mortgage spread changes on tangible net book value Interest Rate Sensitivity | Change in Interest Rate | Estimated Change in Tangible Net Book Value Per Common Share (as of Sep 30, 2024) | | :--- | :--- | | -75 Basis Points | -2.4% | | +25 Basis Points | -1.1% | | +75 Basis Points | -5.9% | MBS Spread Sensitivity | Change in MBS Spread | Estimated Change in Tangible Net Book Value Per Common Share (as of Sep 30, 2024) | | :--- | :--- | | -25 Basis Points | +11.2% | | +25 Basis Points | -11.2% | | +50 Basis Points | -22.4% | - The company's estimated **duration gap** was **0.2 years** as of September 30, 2024, compared to -0.5 years at year-end 2023[230](index=230&type=chunk) [Item 4. Controls and Procedures](index=48&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls during the quarter - Based on an evaluation as of September 30, 2024, the Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective**[251](index=251&type=chunk) - **No changes occurred** during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[252](index=252&type=chunk) [PART II. OTHER INFORMATION](index=49&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material litigation - The company reports **no material litigation** threatened against it or its subsidiaries, other than routine proceedings arising in the ordinary course of business[255](index=255&type=chunk) [Item 1A. Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors disclosed in the company's 2023 Annual Report on Form 10-K - **No material changes** to the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2023, have occurred[256](index=256&type=chunk) [Item 5. Other Information](index=49&type=section&id=Item%205.%20Other%20Information) Discloses the adoption of a Rule 10b5-1 trading plan by the President and CEO for the sale of company stock - On August 27, 2024, CEO Peter Federico adopted a **Rule 10b5-1 trading plan** for the sale of up to **145,000 shares** of common stock, expiring August 20, 2025[260](index=260&type=chunk) [Item 6. Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section provides an index of all exhibits filed with the Form 10-Q, including certifications and XBRL data files

Exhibit 99.1 FOR IMMEDIATE RELEASE October 21, 2024 CONTACT: Investors - (301) 968-9300 Media - (301) 968-9303 AGNC INVESTMENT CORP. ANNOUNCES THIRD QUARTER 2024 FINANCIAL RESULTS Bethesda, MD - October 21, 2024 - AGNC Investment Corp. ("AGNC" or the "Company") (Nasdaq: AGNC) today announced financial results for the quarter ended September 30, 2024. THIRD QUARTER 2024 FINANCIAL HIGHLIGHTS OTHER THIRD QUARTER HIGHLIGHTS • $0.63 comprehensive income per common share, comprised of: ◦ $0.39 net income per comm ...