EFC - Mergers and acquisitions

Ellington Financial Inc. (NYSE:EFC) ("Ellington Financial"), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Great Ajax Corp. (NYSE:AJX) ("Great Ajax"), a real estate investment trust that invests primarily in residential mortgage loans, jointly announced today they have agreed to terminate the merger agreement announced on July 3, 2023, effective immediately. The termination was approved by both companies' boards of directors after careful consideration of the proposed merger and the progress made towards completing the proposed merger. In addition, Ellington Financial has agreed to pay Great Ajax $1

− Transaction Increases Scale and Enhances Access to Securitization Markets – − Synergistic Expansion Expected to Drive Earnings Accretion and Long-Term Growth − Ellington Financial Inc. (NYSE:EFC) ("Ellington Financial"), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Great Ajax Corp. (NYSE:AJX) ("Great Ajax"), a real estate investment trust that invests primarily in residential mortgage loans, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Great Ajax. The transaction is expected to close by year-end 2023. Pursuant to