Eagle Point Credit Company Inc. Announces Second Quarter 2025 Financial Results and Declares Fourth Quarter 2025 Common and Preferred Distributions

Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCU, ECCV, ECCW, ECCX) today announced financial results for the quarter ended June 30, 2025 and certain additional activity through July 31, 2025, and declared distributions on shares of the Company’s common and preferred stock.

“We took advantage of the market dislocation in the second quarter to acquire discounted CLO equity investments that will enhance the Company’s returns over the long-term,” said Thomas P. Majewski, Chief Executive Officer. “Despite the dislocation, recurring cash flows from our portfolio remained robust during the quarter, comfortably exceeding our distributions and operating expenses.”

“Looking forward, we remain focused on lengthening our weighted average remaining reinvestment period, maintaining strong recurring cash flows and deploying capital opportunistically to further enhance net investment income over time,” concluded Mr. Majewski.

SECOND QUARTER 2025 RESULTS

• Net asset value (“NAV”) per common share of $7.31 as of June 30, 2025, compared to $7.23 as of March 31, 2025.
• Net investment income (“NII”) of $0.23 per weighted average common share.^1,2
• NII less realized losses from investments of $0.16 per weighted average common share compares to $0.33 of NII and realized gains per weighted average common share for the quarter ended March 31, 2025, and $0.16 of NII less realized losses per weighted average common share for the quarter ended June 30, 2024.³
• Realized losses from forward currency contracts of $0.08 per weighted average common share, which were substantially offset by unrealized gains on non-U.S. dollar-denominated investments, resulting in little to no impact to NAV.
• GAAP net income (inclusive of unrealized mark-to-market gains) of $57.5 million, or $0.47 per weighted average common share.
• Received $85.2 million in recurring cash distributions⁴ from the Company’s investment portfolio, or $0.69 per weighted average common share, exceeding the Company’s aggregate distributions on its common stock and operating costs for the quarter.
• Deployed $86.1 million in gross capital into collateralized loan obligation (“CLO”) equity, CLO debt, loan accumulation facilities and other investments. The weighted average effective yield of new CLO equity investments made by the Company during the quarter, which includes a provision for credit losses, was 17.3% as measured at the time of investment.
• As of June 30, 2025:
  • The weighted average effective yield of the Company’s CLO equity portfolio (excluding called CLOs), based on amortized cost, was 11.45%. This compares to 13.66% as of March 31, 2025 and 15.28% as of June 30, 2024.⁵
  • The weighted average expected yield of the Company’s CLO equity portfolio (excluding called CLOs), based on fair market value, was 18.81%. This compares to 19.69% as of March 31, 2025 and 22.36% as of June 30, 2024.⁵
• Issued approximately 5.3 million shares of common stock pursuant to the Company’s “at-the-market” offering program for total net proceeds of $40.7 million. The common stock issuance resulted in $0.02 per share of NAV accretion during the quarter.
• Issued approximately 1.6 million shares of Series AA and 69,040 shares of Series AB 7.00% Convertible Perpetual Preferred Stock for total proceeds of $37.6 million pursuant to the Company's continuous offering of Series AA and Series AB 7.00% Convertible Perpetual Preferred Stock (the “Convertible Perpetual Preferred Stock”).
• Formed a second CLO collateral manager partnership with a long-established credit platform. Similar to the Company’s existing strategic relationship, this new partnership includes a meaningful, perpetual top-line revenue share in the CLO business, which is expected to generate recurring revenue to the Company.
• As of June 30, 2025, the Company had debt and preferred equity securities outstanding which totaled 41.1% of its total assets (less current liabilities).⁶
• As of June 30, 2025, on a look-through basis, and based on the most recent CLO trustee reports received by such date:
  • The Company, through its investments in CLO equity securities, had indirect exposure to approximately 1,906 unique corporate obligors.
  • The largest look-through obligor represented 0.6% of the loans underlying the Company’s CLO equity portfolio.
  • The top-ten largest look-through obligors together represented 4.8% of the loans underlying the Company’s CLO equity portfolio.
  • The look-through weighted average spread of the loans underlying the Company’s CLO equity portfolio was 3.33% as of June 2025, down 3 basis points from March 2025.
• GAAP net income was comprised of total investment income of $48.4 million and total net unrealized gains on investments of $54.8 million, offset by financing costs and operating expenses of $20.4 million, realized losses from forward currency contracts of $9.8 million, realized capital losses on investments of $8.3 million, distributions and amortization of offering costs on temporary equity of $4.1 million and net unrealized losses on certain liabilities held at fair value of $3.1 million.
• Recorded other comprehensive income of $2.3 million.

THIRD QUARTER 2025 PORTFOLIO ACTIVITY THROUGH JULY 31, 2025 AND OTHER UPDATES

• As previously published on the Company’s website, management’s estimate of the range of the Company’s NAV per common share is estimated to be between $7.44 and $7.54 as of July 31, 2025.
• Received $65.5 million of recurring cash distributions from the Company’s investment portfolio. As of July 31, 2025, some of the Company’s investments had not yet reached their payment date for the quarter.
• Deployed $37.8 million of net capital into CLO equity, loan accumulation facilities and other investments.

FOURTH QUARTER 2025 DISTRIBUTIONS

The Company is pleased to declare three separate monthly distributions of $0.14 per share on its common stock for the fourth quarter of 2025.⁷ The following schedule applies to the distributions:

Amount per Common Share	Record Date	Payable Date
$0.14	October 14, 2025	October 31, 2025
$0.14	November 10, 2025	November 28, 2025
$0.14	December 11, 2025	December 31, 2025

The Company evaluates its ongoing common stock distributions based on a number of factors, including recurring cash flows generated from the Company’s investment portfolio, GAAP earnings and the Company’s requirement to distribute substantially all of its taxable income.

The Company is also pleased to announce the declaration of distributions on its 6.50% Series C Term Preferred Stock due 2031 (the “Series C Term Preferred Stock”), 6.75% Series D Preferred Stock (the “Series D Preferred Stock”) and 8.00% Series F Term Preferred Stock due 2029 (the “Series F Term Preferred Stock”) as follows:

Preferred Stock Type	Amount per Share	Record Date	Payable Date
Series C Term Preferred Stock	$0.135417	October 14, 2025 November 10, 2025 December 11, 2025	October 31, 2025 November 28, 2025 December 31, 2025
Series D Preferred Stock	$0.140625
Series F Term Preferred Stock	$0.166667

The distributions on the Series C Term Preferred Stock, Series D Preferred Stock and Series F Term Preferred Stock reflect an annual distribution rate of 6.50%, 6.75% and 8.00%, respectively, of the $25 liquidation preference per share.

The Company is also pleased to announce the declaration of distributions on shares of the Convertible Perpetual Preferred Stock as follows:

Preferred Stock Type	Amount per Share	Record Dates	Payable Dates
7.00% Series AA Convertible and Perpetual Preferred Stock	$0.145834	October 14, 2025 November 10, 2025 December 11, 2025	October 31, 2025 November 28, 2025 December 31, 2025
7.00% Series AB Convertible and Perpetual Preferred Stock	$0.145834

The distributions on shares of the Convertible Perpetual Preferred Stock reflect an annual distribution rate of 7.00% of the $25 liquidation preference per share and accumulate from the date of original issue.

CONFERENCE CALL

The Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss the Company’s financial results for the quarter ended June 30, 2025, as well as a portfolio update.

All interested parties may participate in the conference call by dialing (877) 407-0789 (toll-free) or (201) 689-8562 (international). Please reference Conference ID 13754633 when calling, and the Company recommends dialing in approximately 10 to 15 minutes prior to the call.

A live webcast will also be available on the Company’s website (www.eaglepointcreditcompany.com). Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software.

An archived replay of the call will be available shortly afterwards until September 11, 2025. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13754633.

ADDITIONAL INFORMATION

The Company has made available on the investor relations section of its website, www.eaglepointcreditcompany.com (in the financial statements and reports section), its unaudited consolidated financial statements for the period ended June 30, 2025. The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio for the quarter ended June 30, 2025. The Company has filed these reports with the Securities and Exchange Commission (“SEC”).

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital gains. The Company seeks to achieve its investment objectives by investing primarily in equity and junior debt tranches of CLOs. The Company is externally managed and advised by Eagle Point Credit Management LLC.

In addition to the Company’s regulatory requirement to file certain portfolio information with the SEC, the Company makes certain additional financial information available to investors via its website (www.eaglepointcreditcompany.com), press releases and other public disclosures.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company’s other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

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1 “Per weighted average common share” is based on the average daily number of shares of common stock outstanding for the period and “per common share” refers to per share of the Company’s common stock.

2 NII does not reflect distributions and amortization of offering costs on the Series D Preferred Stock and the Series AA/AB Convertible Perpetual Preferred Stock (collectively with the Series D Preferred Stock, the “temporary equity”) of $0.03 per weighted average common share.

3 Commencing Q2 2025, realized gains/losses from forward currency contracts are reported separately from NII and realized gains/losses per share. For the quarter ended March 31, 2025 and June 30, 2024, NII and realized gains/losses per share included $0.03 and $0.01 per share of realized gains from forward currency contracts, respectively.

4 “Recurring cash distributions” refers to the quarterly distributions received by the Company from its CLO equity, CLO debt and other investments and distributions from loan accumulation facilities in excess of capital invested and excludes funds received from CLOs called.

5 “Weighted average effective yield” is based on an investment’s amortized cost whereas “weighted average expected yield” is based on an investment’s fair market value as of the applicable period end as disclosed in the Company’s financial statements, which is subject to change from period to period. Please refer to the Company’s quarterly unaudited financial statements for additional disclosures.

6 Over the long term, management expects to generally operate the Company with leverage within a range of 27.5% to 37.5% of total assets (less current liabilities) under normal market conditions. The Company may incur leverage outside of this range, subject to applicable regulatory limits.

7 The ability of the Company to declare and pay distributions on its common stock is subject to a number of factors, including the Company’s results of operations. Distributions on its common stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The actual components of the Company’s distributions for US tax reporting purposes can only be finally determined as of the end of each fiscal year of the Company and are thereafter reported on Form 1099-DIV.

 

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