Core Insights - Great Ajax Corp. reported a consolidated net loss of $23.2 million for the quarter ended December 31, 2023, translating to a loss of $0.86 per common share, which reflects a significant decline compared to previous quarters [2][6][12] - The company focuses on acquiring, investing in, and managing re-performing mortgage loans (RPLs) and non-performing loans (NPLs), alongside originating small-balance commercial loans (SBC loans) [1][3] Financial Performance - Loan interest income for the quarter was $12.42 million, a decrease from $12.70 million in the prior quarter [2] - Net interest income was reported at $3.17 million, down from $3.04 million in the previous quarter [2] - The average carrying value of RPLs was $882.07 million, while NPLs stood at $42.05 million as of December 31, 2023 [2][4] Asset Management - The total unpaid principal balance (UPB) of the loan portfolio was $957.18 million, with a weighted average loan-to-value (LTV) ratio of 54.2% [4] - The market value of collateral was estimated at $2.12 billion, indicating a significant buffer over the UPB [4] Recent Developments - The company mutually terminated its merger agreement with Ellington Financial, receiving $16 million in total, which included $5 million in cash and $11 million for shares purchased at $6.60 each [3][6] - A cash dividend of $0.10 per share was declared, to be paid on March 29, 2024 [3] Strategic Initiatives - In February 2024, the company identified mortgage loans with a UPB of approximately $330 million for potential sale, anticipating a loss of about $10 million for every $100 million sold [3][4] - A strategic transaction with Rithm was announced, with plans for an annual/special stockholders' meeting [3]

Core Viewpoint - Rithm Capital Corp. and Great Ajax Corp. have entered into a strategic transaction involving a $70 million term loan agreement, aimed at repositioning Great Ajax to capitalize on commercial real estate investment opportunities [1][2]. Group 1: Transaction Details - Great Ajax will utilize the $70 million term loan, along with cash on hand and cash from loan sales, to repay its outstanding convertible notes [1]. - In conjunction with the loan agreement, Great Ajax will issue five-year warrants to Rithm, based on amounts drawn under the loan facility [3]. - Great Ajax will also issue $14 million in common stock to Rithm as part of a securities purchase agreement [3]. Group 2: Management Changes - Great Ajax has issued a termination notice to its external manager, Thetis Asset Management LLC, and plans to enter into a management agreement with an affiliate of Rithm, pending shareholder approval [2]. - The transaction is expected to enhance Great Ajax's strategic direction and enable it to pursue unique investment opportunities in the commercial real estate market [2]. Group 3: Shareholder Involvement - Great Ajax will seek shareholder approval for the transaction at an upcoming annual and special meeting [4]. - Support agreements have been entered into with certain institutional stockholders, representing over 40% of Great Ajax's common stock, to facilitate the transaction [4]. Group 4: Advisory Roles - Citi is serving as the exclusive financial advisor to Rithm, while Piper Sandler & Co. is acting as the exclusive financial advisor to Great Ajax [5]. - Legal counsel for Rithm is provided by Sidley Austin LLP, and Mayer Brown LLP is serving as legal advisor to Great Ajax [5].

Exhibit 99.1 GREAT AJAX CORP. ANNOUNCES RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2023 Fourth Quarter Highlights New York, NY—February 26, 2024 —Great Ajax Corp. (NYSE: AJX), a Maryland corporation that is a real estate investment trust ("REIT"), announces its results of operations for the quarter ended December 31, 2023. We focus primarily on acquiring, investing in and managing a portfolio of re-performing mortgage loans ("RPLs") and non-performing loans ("NPLs") secured by single-family residences and c ...

Third Quarter Investor Presentation Safe Harbor Disclosure  We make forward‐looking statements in this presentation that are subject to risks and uncertainties. These forward‐looking statements include information about possible or future results ...

Great Ajax Corp. (NYSE:AJX) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Lawrence Mendelsohn - Chief Executive Officer Russell Schaub - President Mary Doyle - CFO Conference Call Participants Operator Good afternoon, ladies and gentlemen. Welcome to the Great Ajax Corporation Q3, 2023 Financial Results Conference call. At this time, all participants are in a listen only mode and please be advised that this call is being recorded. Now, at this time, I'll turn things over ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 001-36844 (Commission file number) GREAT AJAX CORP. (Exact name of registrant as specified in its charter) State or other jurisdiction Maryland 46-5211 ...

Great Ajax Corp. (NYSE:AJX) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Lawrence Mendelsohn – Chief Executive Officer Conference Call Participants Operator Good afternoon. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to the Great Ajax Corp. Second Quarter 2023 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a que ...

Second Quarter Investor Presentation Safe Harbor Disclosure  We make forward‐looking statements in this presentation that are subject to risks and uncertainties. These forward‐looking statements include information about possible or assumed future ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 001-36844 (Commission file number) GREAT AJAX CORP. (Exact name of registrant as specified in its charter) State or other jurisdiction of incorporation or o ...

Great Ajax Corp. (NYSE:AJX) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Larry Mendelsohn – Chief Executive Officer Mary Doyle – Chief Financial Officer Conference Call Participants Matt Howlett – B. Riley Eric Hagen – BTIG Operator Good day, everyone, and welcome to the Great Ajax Corp. Q1 2023 Financial Results Conference Call. At this time, I would like to hand things over to Mr. Larry Mendelsohn, CEO. Please go ahead, sir. Larry Mendelsohn Thank you. Thank you, everyone, ...