EICA

• Portfolio performance: NAV increased, net investment income covered common distribution, recurring cash flows exceeded expenses, and NAV rose to $14.21 per share. - Investment activities: Deployed $60 million into new investments, new CLO equity had a high yield, and completed resets and refinancings of CLO equity positions. - Capital structure: Issued $35 million of preferred stock, announced redemption of Series B term preferred stock, repurchased common stock, and increased repurchase authorization. - Market update: CLO market activity, loan market performance with default rates and trading volume trends discussed.

• Declared three monthly distributions of 11¢ per share for Q1 2026, a reduction from previous. - Board increased common share repurchase authorization to $60 million from $50 million. - Plan to continue aggressive share buybacks when common stock trades at a discount to NAV.

For the third quarter, Eagle Point Income Company generated net investment income less realized losses of 26¢ per share, consisting of $0.39 per share of net investment income offset by 13¢ of realized capital losses. Recurring cash flows totaled $17 million or 67¢ per share, consistent with the prior quarter. NAV rose to $14.21 per share as of September 30, up from $14.08 per share in June. GAAP return on equity was 3%. The company deployed $60 million into new investments, with new CLO equity purchased having a weighted average effective yield of 16.6%. It issued $35 million of preferred stock, repurchased $21 million of common stock at an average discount to NAV of 8.3%, and the board increased the common share repurchase authorization to $60 million from $50 million.

• Matters discussed include forward-looking statements and projected financial information involving risks and uncertainties that may cause actual results to differ materially from projections. Factors impacting this are detailed in the company's SEC filings.

Q: How does the recent data on revenue and EBITDA change for below-grade companies impact credit quality expectations?

A: Thomas Majewski and Dan Ko discussed that positive revenue and EBITDA trends for below-grade companies are credit positive, with growth moving in the right direction and lower rates likely to lower interest costs for these companies.

Q: What has driven the increase in annual trading volume in the CLO market?

A: Dan Ko mentioned more eyes on CLOs due to premium yields and low credit expense relative to other fixed income assets, along with the advent of ETFs.

Q: How will cash be used, paying down fees or buying back common shares?

A: Thomas Majewski stated cash will be used for both paying down the bees (likely referring to certain obligations) and aggressively buying back common shares.