Core Viewpoint - The article emphasizes the positive outlook on collateralized loan obligation (CLO) ETFs and closed-end funds (CEFs), advocating for investment in these financial instruments [1]. Group 1: CLO ETFs and CEFs - CLO ETFs have been positively received in the market, with the author consistently promoting them as a viable investment option [1]. - The author has also supported several CLO CEFs with buy ratings, indicating a strong belief in their potential for income generation [1]. Group 2: Author's Position - The author holds a beneficial long position in specific CLO-related securities, including ECC, OXLC, JAAA, and JBBB, through various financial instruments [1].

EAGLE POINT INCOME COMPANY QUARTERLY UPDATE – Q4 2024 FEBRUARY 2 0 , 2025 IMPORTANT INFORMATION This presentation and the information and views included herein do not constitute investment advice, or a recommendation or an offer to enter into any transaction with Eagle Point Income Company Inc. ("EIC" or the "Company") or any of its affiliates. This presentation is provided for informational purposes only, does not constitute an offer to sell securities of the Company or a solicitation of an offer to purcha ...

Financial Data and Key Metrics Changes - For the year 2024, the company generated a GAAP return on equity of 21% and a total return on common stock of 24.8% assuming reinvested distributions [9] - The company paid cash distributions of $2.40 per share, representing about 15.2% of the average stock price during the year [9] - The NAV as of December 31 stood at $14.99 per share, a 1% increase from September 30 and a 4% increase from the beginning of 2024 [12][30] Business Line Data and Key Metrics Changes - The company received recurring cash flows of $16.1 million or $0.82 per share in the fourth quarter, up from $13.1 million or $0.76 per share in the prior quarter [10] - Net investment income and realized gains were $0.54 per share in the fourth quarter, consistent with the previous quarter [27] - The company issued approximately 2.5 million common shares at a premium to NAV, generating NAV accretion of $0.05 per share during the quarter [13] Market Data and Key Metrics Changes - The S&P UBS leveraged loan index generated a total return of 2.3% for the quarter and 9.1% for 2024, with loans up 70 basis points in January [20] - New CLO issuance reached $59 billion in the fourth quarter, leading to a record $202 billion for the full year [21] - The trailing twelve-month default rate rose slightly to 0.9% as of year-end, still below the historical average of 2.6% [24] Company Strategy and Development Direction - The company continues to deploy significant capital into new CLO investments, which are expected to make their first cash payments in 2025 [11] - The management remains focused on maximizing yields and believes that CLO equity exposure enhances the portfolio's earnings ability [15] - The company is considering increasing its allocation to CLO equity, which is generally less rate-sensitive than CLO double B's [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's ability to weather economic cycles and generate compelling risk-adjusted returns [34] - The company is actively managing its portfolio in response to changes in short-term rates and is prepared to deploy additional capital into CLO equity [34] - Management expects default risk to remain low for the foreseeable future, given the current economic conditions [25] Other Important Information - The company declared monthly distributions of $0.20 per share through June 2025 [29] - As of January 31, the company had over $30 million of cash and revolver capacity available for investment [31] Q&A Session Questions and Answers Question: How do you see CLO debt liability spreads trending over the next couple of years? - Management indicated that CLO debt tranches have performed well historically and expect spreads to continue to trend tighter over time, despite facing reinvestment risks [39][43] Question: Could you highlight the risks in CFOs compared to CLOs and how high are you willing to go with your allocation to CFO and CLO equity? - Management stated that they target no more than 35% in CLO equity, with a hard minimum of 65% in CLO debt, and emphasized the selective nature of CFO investments [46][50] Question: How do you see the relationship between cash yields and effective yields developing? - Management explained that while cash yields remain attractive, effective yields are lower due to assumptions about recovery rates and market conditions, and they are actively managing liability costs [61][72]

Group 1 - Eagle Point Income (NYSE: EIC) is an investment company that focuses on CLO debt [1] - The investment group European Small Cap Ideas, led by Steven Bavaria, provides exclusive access to actionable research on European investment opportunities [1] - The focus of European Small Cap Ideas is on high-quality small-cap investments, emphasizing capital gains and dividend income for continuous cash flow [1] Group 2 - European Small Cap Ideas features two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio [1] - The service includes weekly updates, educational content on European investing opportunities, and an active chat room for discussions on portfolio developments [1]

Group 1 - The article emphasizes the importance of a hybrid investment strategy that combines high-quality dividend stocks with other assets like Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1] - The author advocates for the FIRE (Financial Independence, Retire Early) movement, suggesting that with the right investment strategies, early retirement is attainable without compromising portfolio safety [1] - The article highlights the author's experience and success in the investment field, aiming to inspire average workers to pursue financial independence through informed investment choices [1]

Financial Data and Key Metrics Changes - The company reported recurring cash flows of $13.1 million or $0.76 per share, a decrease from $12.4 million or $0.87 per share in the prior quarter [8] - Net investment income and realized gains were $0.57 per share during the quarter, compared to $0.44 per share in the second quarter of 2024 and $0.38 per share in the third quarter of 2023 [20] - The NAV as of September 30 was $14.90 per share, a 2% decrease from $15.24 per share at the end of June [10][23] Business Line Data and Key Metrics Changes - The company deployed approximately $90 million of net capital into new investments during the third quarter, with a weighted average effective yield of 12% on new CLO purchases [15] - The company paid three monthly common distributions of $0.20 per share during the third quarter and has declared the same monthly distributions through March 2025 [10][22] Market Data and Key Metrics Changes - The Credit Suisse Leverage Loan Index generated a total return of 2.1% for the quarter and 6.6% year-to-date through September 30, with loans up 7.5% year-to-date as of October 31 [14] - There was $40 billion of new CLO issuance in the third quarter of 2024, with $142 billion for the first nine months of 2024, on pace to break the previous record of $187 billion set in 2021 [16] Company Strategy and Development Direction - The company continues to focus on maximizing shareholder returns through active portfolio management and investment in high-yielding CLO debt and equity [7][13] - The management believes that CLO BBs are resilient and positioned to succeed in various economic environments, emphasizing the structural protections and underlying collateral [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's ability to generate compelling risk-adjusted returns despite recent Federal Reserve rate cuts [26] - The company expects low default risk to persist, with only three leveraged loan defaults in the third quarter and a trailing 12-month default rate of 80 basis points [18] Other Important Information - The company recorded GAAP net income of $1 million or $0.06 per share, with total investment income of $12.5 million and net realized gains of $1.3 million [20][21] - As of October month-end, the company had over $21 million of cash and revolver capacity available for investment management [24] Q&A Session Summary Question: Insights on the BB market and acquisitions - Management noted that CLO BB prices have held well despite Fed rate cuts, with a significant difference in spreads between new issues and resets [29][30] Question: Primary vs. secondary market dynamics - Management indicated that convexity in CLO BBs has largely disappeared as most have rallied back to par, with opportunities still available in both primary and secondary markets [31][32] Question: Contribution of discounted assets in the portfolio - Management acknowledged the benefits of realizing convexity sooner and indicated that a large portion of the portfolio consists of purchases made at discounts, with potential for future gains [34] Question: Yield requirements and comparisons with other vehicles - Management highlighted that the distribution rate currently pencils out to a high 14% yield, which is considered attractive compared to private credit and BDCs [38][42] Question: Growth potential in the CLO BB market - Management emphasized the significant growth potential in the CLO BB market, which is only about 4% of the total CLO market, indicating ample opportunity for expansion [45][48]

EAGLE POINT INCOME COMPANY QUARTERLY UPDATE – Q3 2024 NOVEMBER 14 , 2024 IMPORTANT INFORMATION This presentation and the information and views included herein do not constitute investment advice, or a recommendation or an offer to enter into any transaction with Eagle Point Income Company Inc. ("EIC" or the "Company") or any of its affiliates. This presentation is provided for informational purposes only, does not constitute an offer to sell securities of the Company or a solicitation of an offer to purchas ...

Group 1 - NewtekOne (NASDAQ: NEWT) is identified as a bank holding company, previously known as a business development company (BDC) with a strong performance history [1] - The article highlights the potential for building a Fixed Income Portfolio, emphasizing the importance of conservative income strategies that focus on preferred stocks and bonds with high safety margins [1] - There is a belief that the upcoming decade will favor fixed income investments, appealing to both conservative and aggressive investors [1] Group 2 - The article promotes the advantages of undervalued fixed income securities, bond ladders, and high-yield cash parking opportunities [2] - A significant discount of 46% on annual memberships is offered, encouraging potential investors to explore the Conservative Income Portfolio (CIP) [2]

Core Viewpoint - Eagle Point Income (NYSE:EIC) focuses on BB tranches of CLO debt and has a strong emphasis on preferred shares with a mandatory repayment date in October 2026, which are viewed similarly to bond investments due to their fixed end date and liability classification on the balance sheet [4][8][11]. Financial Overview - As of the end of September, Eagle Point Income reported total assets of approximately $213 million and net assets of about $208 million, with total liabilities at $72.7 million, of which $67.5 million consists of preferred shares [10][11]. - The company generated a total investment income of nearly $7 million in Q3, primarily from interest income, with total expenses amounting to $3.4 million, resulting in a net investment income of $3.5 million [32][34]. - The preferred shares offer a 5% dividend yield, with monthly payments of approximately $0.104 per share, costing the company about $160,000 monthly [8][35]. Investment Strategy - The company maintains a focus on BB-rated CLO debt, which constitutes almost 75% of its portfolio, while B-rated debt and equity tranches account for smaller portions [12][30]. - The required asset coverage ratio for preferred shares is 200%, with the actual coverage exceeding 300%, indicating a strong safety net for investors [11][36]. - The yield to maturity for the preferred shares is approximately 8%, making them an attractive investment option [8][36].