Ellington Economic Inc. Announces Appointments to Board of Administrators

Aged GREENWICH, Conn.–(Organization WIRE)–Jan 28, 2021– Ellington Financial Inc. (NYSE: EFC) (“EFC” or the “Company”)…

Aged GREENWICH, Conn.–(Organization WIRE)–Jan 28, 2021–

Ellington Financial Inc. (NYSE: EFC) (“EFC” or the “Company”) nowadays announced that Dr. Ronald I. Simon, an Impartial Director of the Corporation considering that 2007, has been appointed Chairman of the Board of Directors (the “Board”). Dr. Simon replaces Thomas F. Robards, who is stepping down from his purpose as Chairman and remains on the Board as an Impartial Director. In addition, Stephen J. Dannhauser, the former chairman of Weil, Gotshal & Manges LLP, has been appointed to the Board as an Independent Director, effective promptly.

“We are happy to announce that Ronald Simon will now provide as our Chairman of the Board. Ron has deep awareness of the Firm and has been an priceless asset as a Director of the Firm given that its inception in 2007. We are also thrilled to welcome Stephen Dannhauser to our Board. Presented Steve’s deep know-how in company legislation and his a long time of experience advising company boards at Weil, we consider that he will insert a precious new standpoint,” explained Laurence Penn, Chief Government Officer of EFC.

Dr. Simon extra, “I am honored to have been picked out to lead EFC’s Board. I glance ahead to doing work with the EFC Board and administration team in this elevated purpose, and I am fully commited to being a good steward for shareholders.”

Mr. Dannhauser concluded, “I am incredibly excited to be part of the Board of EFC. I think that I can add price and an supplemental perspective to the Board as the Organization carries on to mature. I seem forward to a brilliant foreseeable future for EFC.”

Prior to signing up for the Board, Mr. Dannhauser worked at Weil, Gotshal & Manges LLP (“Weil”) from 1975 right up until 2012. Mr. Dannhauser was named Weil’s executive spouse in 1989 and served as its chairman from 2001 to 2012. Mr. Dannhauser ongoing to work at Weil in a consulting capability via 2015. For the duration of his tenure at Weil, Mr. Dannhauser performed a crucial function in crafting and executing small business approaches that expanded Weil from its headquarters in New York to comprise 20 places of work on 3 continents. All through his tenure as chairman and executive associate, Mr. Dannhauser used the bulk of his time overseeing the business enterprise operations of the agency, creating its system and expanding and deepening its shopper base. Mr. Dannhauser served as a director of Hydra Industries Acquisition Corp., a unique purpose acquisition corporation, from October 2014 till December 2016. Mr. Dannhauser has been a member of the pursuing companies, committees and boards: The Fellows of the American Bar Foundation Fellow of The New York Bar Basis ABA Law Agency Professional Bono Challenge Advisory Committee The Countrywide Minority Business enterprise Council NYC Bar Association Committee to Enhance Range The Partnership for New York City Chairman of the Board of Directors of The New York Law enforcement and Fireplace Widows’ and Children’s Reward Fund Chairman of the Board of Administrators of Boys & Girls Harbor, Inc. Member of the Board of Directors of Citizens Committee for New York Town Member of the Board of Administrators of United Way of New York City Advisory Board Member, New York Needs You and Honorary Member of the Honor Legion of the Law enforcement Office of the City of New York. Mr. Dannhauser graduated from the Point out College of New York at Stonybrook (B.A. with honors, 1972), and from Brooklyn Legislation School (J.D. with honors in 1975), in which he was a member and decisions editor of the Brooklyn Regulation Overview (1973-1975). Mr. Dannhauser spends sizeable time on numerous professional bono and philanthropic matters. We feel that Mr. Dannhauser is qualified to serve as a member of our board of directors because of to his a lot of directorship roles, leadership expertise, and organization market contacts.

Cautionary Statements

This press launch consists of ahead-hunting statements inside the which means of the risk-free harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-on the lookout statements entail numerous hazards and uncertainties. The Company’s true benefits may possibly vary from its beliefs, anticipations, estimates, and projections and, therefore, you must not count on these ahead-wanting statements as predictions of long term functions. Ahead-wanting statements are not historical in nature and can be discovered by words these as “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “continue,” “intend,” “should,” “would,” “could,” “goal,” “objective,” “will,” “may,” “seek” or very similar expressions or their damaging sorts, or by references to method, strategies, or intentions. Examples of ahead-on the lookout statements in this push launch consist of statements with regards to the Company’s board of directors. The Company’s final results can fluctuate from thirty day period to thirty day period and from quarter to quarter relying on a variety of elements, some of which are further than the Company’s command and/or are difficult to forecast, which includes, with out limitation, improvements in interest charges and the marketplace value of the Company’s securities, improvements in property finance loan default costs and prepayment rates, the Company’s skill to borrow to finance its belongings, changes in government laws impacting the Company’s business enterprise, the Company’s skill to preserve its exclusion from registration underneath the Financial commitment Business Act of 1940, the Company’s ability to keep its qualification as a genuine estate expense trust, or “REIT,” and other adjustments in sector problems and economic trends, like variations ensuing from the financial effects associated to the COVID-19 pandemic, and related responses to the pandemic. Moreover, forward-wanting statements are matter to pitfalls and uncertainties, which include, amid other matters, people explained below Merchandise 1A of the Company’s Yearly Report on Type 10-K filed on March 13, 2020 and Part II, Item 1A of the Company’s Quarterly Report on Sort 10-Q filed on May perhaps 21, 2020, as amended, which can be accessed via the Company’s web site at www.ellingtonfinancial.com or at the SEC’s site ( www.sec.gov ). Other threats, uncertainties, and factors that could induce true final results to differ materially from these projected may possibly be described from time to time in reviews the Firm files with the SEC, including studies on Forms 10-Q, 10-K and 8-K. The Enterprise undertakes no obligation to update or revise any forward-looking statements, whether as a final result of new information, foreseeable future events, or or else.

This release and the facts contained herein do not constitute an present of any securities or solicitation of an supply to buy securities.

About Ellington Financial

Ellington Economical invests in a diverse array of financial property, which include residential and commercial home finance loan financial loans, residential and business house loan-backed securities, client financial loans and asset-backed securities backed by buyer loans, collateralized financial loan obligations, non-home loan and mortgage-relevant derivatives, equity investments in personal loan origination firms, and other strategic investments. Ellington Economical is externally managed and recommended by Ellington Economical Management LLC, an affiliate of Ellington Management Team, L.L.C.

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Contact: Buyers:

Ellington Fiscal Inc.

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(203) 409-3575

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Key word: CONNECTICUT UNITED STATES NORTH The united states

Business Keyword: CONSULTING BANKING Skilled Providers FINANCE

Source: Ellington Monetary Inc.

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PUB: 01/28/2021 04:15 PM/DISC: 01/28/2021 04:15 PM

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