Ellington Residential Mortgage REIT ("EARN") is a mortgage real estate investment trust or "REIT" that specializes in acquiring,
investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed
securities for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored
enterprise. EARN is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management
Group, L.L.C. ("Ellington,") and was formed through an initial strategic venture between Ellington and a group of funds managed by
an affiliate of The Blackstone Group LP.