Eagle Point Income Company Inc. Announces Initial Post-IPO Common Stock Distributions

Eagle Point Income Company Inc. EIC (the "Company") today is pleased to announce the declaration of distributions on shares of the Company's common stock. The Company has declared a distribution of $0.1547 per share of its common stock, payable on August 30, 2019 to stockholders of record as of August 16, 2019, and a distribution of $0.1326 per share of its common stock, payable on September 30, 2019 to stockholders of record as of September 12, 2019.

Chief Executive Officer Thomas Majewski commented, "The Company had a substantial portfolio of investments in place at the time of our initial public offering. Our plan was to promptly declare our initial monthly distributions in an amount equal to an annualized rate of approximately 8% of our initial public offering price, and we are pleased to declare those distributions today."

The following schedule applies to the distributions:

Chief Financial Officer Ken Onorio commented, "Distributions on common stock are generally expected to be paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital." The specific tax characteristics of the distributions will be reported to the Company's stockholders on Form 1099 after the end of the 2019 calendar year.

The Company closed its initial public offering on July 26, 2019 with a public offering price of $19.89 per share of common stock. A registration statement relating to the Company's common stock has been filed with, and declared effective by, the U.S. Securities and Exchange Commission ("SEC"). Copies of the registration statement and the Company's public filings may be obtained by visiting EDGAR on the SEC's website, at www.sec.gov.

Investors should consider the Company's investment objectives, risks, charges and expenses carefully before investing. An investment in the Company is not appropriate for all investors, and the Company is not intended to be a complete investment program. Shares of closed-end investment companies frequently trade at a discount from their net asset value, which may increase investors' risk of loss.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the shares of common stock referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

ABOUT THE COMPANY

The Company is an externally managed, non-diversified closed-end management investment company. The Company's investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Income Management LLC. The Company's public filings are available free of charge by writing to the Company at Eagle Point Income Company Inc., 600 Steamboat Road, Suite 202, Greenwich, CT 06830, Attention: Investor Relations, by telephone at (844) 810-6501.

ABOUT EAGLE POINT INCOME MANAGEMENT LLC

Eagle Point Income Management LLC is the Company's external adviser and an affiliate of Eagle Point Credit Management LLC, which is the external investment adviser to Eagle Point Credit Company Inc. ECC. The senior investment team of Eagle Point Income Management LLC is comprised of Thomas P. Majewski, Daniel W. Ko and Daniel M. Spinner.

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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