Western Asset Mortgage Capital Corporation Expects to Adjourn Special Meeting of Stockholders Until December 5, 2023

Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) announced that it expects to adjourn its special meeting of stockholders (the “Special Meeting”) relating to the proposed merger with AG Mortgage Investment Trust, Inc. (“MITT”) until December 5, 2023, at 9:00 a.m. Pacific Time, online in a virtual-only meeting format, due to a lack of quorum and to allow further solicitation of proxies from WMC common stockholders for the approval of the merger at the Special Meeting.

A substantial majority of stockholders who have voted to date have voted in favor of the proposed merger with MITT. However, as of the date of this release, a quorum has not been achieved and there are not sufficient votes to approve the merger. By holding the Special Meeting on December 5, 2023, stockholders will have additional time to vote by proxy.

The record date of the Special Meeting, September 22, 2023, remains unchanged, and there is no change to the purpose of the Special Meeting or any of the proposals to be acted upon at the Special Meeting. Stockholders who have previously cast their votes do not need to vote again. The link for the virtual live webcast also remains unchanged and the reconvened Special Meeting can be accessed at https://web.lumiagm.com/239581234.

As a reminder, leading independent proxy advisory firms Glass Lewis and Institutional Shareholder Services Inc. (“ISS”) have recommended that stockholders vote “FOR” the proposed merger with MITT.

WMC strongly encourages all stockholders of WMC to follow the recommendation of Glass Lewis, ISS and the WMC Board of Directors by voting “FOR” the merger.

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.