Leading Independent Proxy Advisory Firm Glass Lewis Joins ISS in Recommending Western Asset Mortgage Capital Corporation Stockholders Vote “FOR” the Proposed Merger With AG Mortgage Investment Trust

Western Asset Mortgage Capital Corporation (the “Company,” “we,” or “WMC”) (NYSE: WMC) announced today that Glass Lewis became the second leading independent proxy advisory firm, joining Institutional Shareholder Services Inc. (ISS), to recommend that stockholders vote “FOR” the proposed merger with AG Mortgage Investment Trust, Inc. (“MITT”), in which each outstanding share of WMC common stock will be converted into the right to receive (i) 1.498 shares of MITT common stock and (ii) the per share portion of a cash payment equal to the lesser of $7,000,000 or approximately 9.9% of the aggregate per share merger consideration. Any difference between $7,000,000 and such smaller amount will be used to benefit the combined company post-closing by offsetting reimbursable expenses that would otherwise be payable to AG REIT Management, LLC, which would be the manager of the combined company.

Bonnie Wongtrakool, Chief Executive Officer and Director of WMC, said, “We are pleased that Glass Lewis recognizes the financial benefits of the proposed merger and supports our Board of Directors’ recommendation that stockholders vote 'FOR' the merger.”

As previously announced, a special meeting of stockholders of WMC (the “Special Meeting”) will be held on November 7, 2023, at 9:00 a.m., Pacific Time, in virtual-only meeting format, to consider and vote upon the proposed merger, among other proposals.

“Every vote is important and we strongly encourage all stockholders of WMC to follow the recommendations of Glass Lewis and the Board of Directors by voting 'FOR' the merger. We recommend that you enter your vote by November 6, 2023, in order to ensure adequate time for tabulation prior to the special meeting,” added Wongtrakool.

If WMC stockholders have any questions or need assistance in voting their shares, they should contact WMC’s proxy solicitor, Morrow Sodali, LLC, by calling [phone] (toll-free from the U.S.) or [phone] (from foreign countries). In addition, you may contact Larry Clark, WMC’s Investor Relations representative, at [phone] or by email at [e-mail].

If approved at the Special Meeting, the merger is expected to close within two business days thereafter, subject to the satisfaction of the remaining customary closing conditions set forth in the merger agreement and discussed in the definitive joint proxy statement/prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”) by WMC and MITT on September 29, 2023 and mailed to stockholders on or about October 3, 2023.