Ellington Financial Announces Upsizing and Pricing of Additional 7.375% Senior Unsecured Notes Due 2030 (Form 8-K)

Ellington Financial Announces Upsizing and Pricing of Additional 7.375% Senior Unsecured Notes Due 2030

OLD GREENWICH, Conn., September 14, 2026-Ellington Financial Inc. (NYSE: EFC) (the "Company") today announced the pricing of its previously announced offering, which was upsized from $100 million to $150 million in aggregate principal amount, of 7.375% senior unsecured notes due 2030 (the "New Notes") through certain of its subsidiaries (such subsidiaries, the "Issuers"). The New Notes will be senior unsecured obligations of the Issuers and will be fully and unconditionally guaranteed by the Company. The offering is expected to close on September 17, 2026 subject to customary closing conditions. The New Notes were issued at a price of 99.010% of their principal amount, with a yield to maturity of 7.663%.

The New Notes were offered as additional notes under the indenture, dated as of October 6, 2025 (the "Indenture"), pursuant to which the Issuers previously issued $400 million in aggregate principal amount of 7.375% senior unsecured notes due 2030 (the "Existing Notes"). The New Notes will be treated as a single class with the Existing Notes for all purposes under the Indenture, and will have identical terms and conditions as the Existing Notes (other than the issue date, the first record date, the first interest payment date, the date from which interest will accrue and the issue price).

The Company expects to use the net proceeds from the offering for general corporate purposes, including repaying a portion of the borrowings under the Company's outstanding repurchase agreements and funding purchases of additional assets in accordance with its investment objectives and strategies.

The New Notes and the guarantee have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any other applicable jurisdiction. The New Notes were offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.