Eagle Point Credit (ECC) investor relations material

Executive summary

• NAV per share declined to $4.17 as of March 31, 2026, from $5.70 at year-end, reflecting significant unrealized losses, loan price declines, and distributions, especially in the software sector.

• Q1 2026 GAAP net loss was $148.4 million or $1.12 per share, driven by $159.0 million in net unrealized losses on investments.

• The portfolio is diversified, with 67% in CLO equity, exposure to 1,841 unique loan obligors, and a focus on broadly syndicated, liquid loans.

• Management highlighted a sharp rebound in April, with NAV increasing nearly 9% at the midpoint and CLO equity valuations recovering in Q2.

• The investment approach targets high current income and capital appreciation, managed by a specialized team with deep CLO market experience.

Financial highlights

• NII less realized losses from investments was $0.14 per share in Q1, up from -$0.26 in Q4 2025; net investment income was $0.20 per share.

• Recurring cash flows for Q1 were $62 million or $0.47 per share; total portfolio cash distributions received were $74.21 million.

• Distributions to common stockholders totaled $0.42 per share for the quarter, with three monthly distributions of $0.06 per share declared for Q3 2026.

• Common share market price at Q1 2026 period end was $3.76, with a market cap of $539.4 million.

• Total assets were $1.13 billion; net assets were $551.1 million as of March 31, 2026.

Outlook and guidance

• Management estimates NAV per share as of April 30, 2026, to be between $4.49 and $4.59, reflecting a modest recovery.

• Focus remains on sustainable distributions aligned with near-term earnings and proactive capital deployment amid lower loan prices.

• The environment is viewed as more attractive than Q1 headlines suggest, with expectations for durable, long-term returns.