Western Asset Mortgage Capital Corporation Announces Second Interim Fourth Quarter Common Dividend of $0.10 Per Share

Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) announced that its Board of Directors has declared a second interim fourth quarter dividend of $0.10 per common share in light of the adjournment of the special meeting of WMC stockholders until December 5, 2023. The dividend is payable on December 5, 2023 to stockholders of record as of November 30, 2023.

The second interim fourth quarter dividend is being made in connection with the previously announced Agreement and Plan of Merger, dated as of August 8, 2023 (the “Merger Agreement”), by and among AG Mortgage Investment Trust, Inc. (“MITT”), AGMIT Merger Sub, LLC (“Merger Sub”), WMC and, solely for the limited purposes set forth in the Merger Agreement, AG REIT Management, LLC, pursuant to which, subject to the terms and conditions therein, WMC will be merged with and into Merger Sub, with Merger Sub continuing as the surviving company (such transaction, the “Merger”). WMC previously declared an interim fourth quarter dividend in the amount of $0.14 to stockholders of record as of November 3, 2023, which was paid on November 8, 2023. This second interim fourth quarter dividend payment covers the period following the payment of the first interim fourth quarter dividend through the day prior to December 6, 2023, the expected closing date of the Merger. MITT is also distributing a similar partial payment dividend to its common stockholders of record.

Additional information regarding the proposed Merger is included in the joint proxy statement/prospectus relating to the Merger that was declared effective by the Securities and Exchange Commission (the “SEC”) on September 29, 2023 and mailed to stockholders on or about October 3, 2023.

About Western Asset Mortgage Capital Corporation

WMC is a real estate investment trust that invests in, finances, and manages a diverse portfolio of assets consisting of Residential Whole Loans, Non-Agency RMBS, and to a lesser extent GSE Risk Transfer Securities, Commercial Loans, Non-Agency CMBS, Agency RMBS, Agency CMBS, and ABS. WMC is externally managed and advised by Western Asset Management Company, LLC, an investment advisor registered with the SEC and a wholly-owned subsidiary of Franklin Resources, Inc.