Ellington Residential Mortgage Management LLC

Ellington Credit Company Management LLC, established in 2012, is an SEC-registered investment adviser specializing in managing pooled investment vehicles and institutional managed accounts. The firm primarily focuses on corporate collateralized loan obligations, mortgage-related securities, asset-backed securities, and equity securities. As of December 31, 2024, Ellington managed approximately $822,259,000 in Regulatory Assets Under Management for EARN, a registered investment company. Fees for EARN include a 1.50% Base Management Fee and a Performance Fee based on Pre-Performance Fee Net Investment Income. Ellington may receive soft dollar items from brokers providing research services. The firm exercises investment discretion over Client Accounts and has custody of client funds and securities, meeting Custody Rule requirements. Ellington may use third-party solicitors and placement agents for client referrals and may vote securities on behalf of certain accounts. The firm has a Code of Ethics governing personal trading and conflicts of interest, and policies to address trade errors and proxy voting. Ellington discloses potential conflicts related to brokerage practices, soft dollar arrangements, and other financial industry activities. The firm states that it is financially sound and capable of meeting its obligations to clients. For more detailed information, investors can refer to EARN's periodic reports filed with the SEC.