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Easterly Acquisition Corp. Announces Extension of Time to Complete Previously Announced Business Combination with JH Capital

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-- Continued strong stockholder support for the business combination
deadline to be extended until June 30, 2018 --

Easterly Acquisition Corp. ("Easterly") (NASDAQ:EACQ) announced the
vote by stockholders to extend the deadline to complete an initial
business combination to June 30, 2018. Stockholders representing 95.3%
of the stockholder base voted, with all of the votes cast in favor of
extending the time that Easterly has to complete its initial business
combination. 7,035 shares of common stock were redeemed by existing
Easterly stockholders in connection with the extension, leaving
approximately $153 million cash in trust after redemptions.

Easterly obtained the extension to allow it more time to complete its
previously announced business combination with JH Capital Group
Holdings, LLC ("JH Capital"). JH Capital is a specialty finance business
that offers end-to-end solutions to customers at every stage of the
distressed credit cycle, from default to rehabilitation. Its largest
segment buys defaulted consumer receivables and strategically places the
accounts for collection. Additionally, JH Capital helps consumers
rehabilitate their credit profile by advocating on their behalf in the
settlement of third-party debt.

"We appreciate the support of our investors and look forward to the
completion of the transaction," said Darrell Crate, Chairman of the
Board of Directors of Easterly. "This transaction will give the company
the capital it needs to accelerate its growth plan and to position it
better for the tailwinds that continue to build in the industry."

"The strong market fundamentals for purchasing charged-off consumer debt
that we witnessed at the end of 2017 continued to provide significant
opportunities for our business in the first quarter of 2018," said
Douglas Jacobsen, JH Capital's Chief Executive Officer. "We are excited
to complete our business combination with Easterly and list our common
stock on the NASDAQ exchange, providing the public markets with the
ability to share in our Company's continued growth and success."

Easterly and JH Capital believe the deal continues to be priced
attractively to peers:

 
Public Peer Trading Levels: Price / 2018E
     

PRA Group
(NASDAQ:PRAA)

   

Encore Capital Group
(NASDAQ:ECPG)

 

March 28, 2018

21.0x

9.6x

 

EACQ $10.18 Stock Price Discount

62%

18%
 

Source: JH Capital provided materials, Capital IQ. Market data as
of March 28, 2018.

Note: Using comparable Economic Earnings for JH Capital (see March
8, 2018 press release for details).

 

About JH Capital

JH Capital is a specialty finance business that offers end-to-end
solutions to customers at every stage of the distressed credit cycle,
from default to rehabilitation. Its largest segment buys defaulted
consumer receivables and strategically places the accounts for
collection. Additionally, JH Capital helps consumers rehabilitate their
credit profile by advocating on their behalf in the settlement of
third-party debt. By leveraging a proprietary combination of data and
models, JH Capital can offer loans to select, prequalified consumers,
pioneering financial solutions that aim to restore their credit profiles
and refinance their existing obligations. JH Capital has a high level of
earnings visibility created by contracted, fixed-price forward flow
agreements to purchase debt from major financial institutions. Its
data-driven, analytical culture has yielded consistent and predictable
results relative to expectation.

About Easterly LLC

Easterly LLC is a private asset management holding company that has
interests in boutique investment management firms. Easterly's core
expertise is in acting as a principal to grow business platforms.
Easterly enhances businesses as a partner through capital formation,
corporate development, and strategic implementation activities.
Easterly's principals have a proven track record of delivering
outperformance to both public and private investors across a variety of
sectors. For more information about Easterly, please visit Easterly's
website at www.easterlycapital.com.

About Easterly Acquisition Corp.

Easterly Acquisition Corp. is a Special Purpose Acquisition Company
sponsored by Easterly Acquisition Sponsor, LLC, an affiliate of Easterly
LLC, for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar business
combination with one or more businesses or assets. Easterly Acquisition
Corp. completed its initial public offering in August 2015, raising $200
million in cash proceeds. Easterly Acquisition Corp.'s officers and
certain of its directors are affiliated with Easterly LLC. For more
information about Easterly Acquisition Corp., please visit its website
at www.easterlyacquisition.com.

Additional Information about the Transaction and Where to Find It

This communication relates to a proposed business combination (the
"Proposed Transaction") between Easterly Acquisition Corp. and JH
Capital Group Holdings, LLC and may be deemed to be solicitation
material in respect of the Proposed Transaction. The Proposed
Transaction will be submitted to the stockholders of Easterly for their
approval. In connection with the stockholder vote on the Proposed
Transaction, Easterly filed with the SEC a preliminary proxy statement
on Schedule 14A. This communication is not a substitute for the proxy
statement that the Company will file with the SEC or any other documents
that the Company may file with the SEC or send to its stockholders in
connection with the Proposed Transaction. When completed, Easterly will
mail a definitive proxy statement to its stockholders in connection with
Easterly's solicitation of proxies for the special meeting of Easterly
stockholders to be held to approve the business combination and related
transactions. This presentation does not contain all the information
that should be considered concerning the Proposed Transaction, including
relevant risk factors that may be included in the proxy statement. It is
not intended to provide the basis for any investment decision or any
other decision in respect to the Proposed Transaction. Easterly
stockholders and other interested persons are advised to read Easterly's
preliminary proxy statement, the amendments thereto, and the definitive
proxy statement (including any documents incorporated by reference
therein), as these materials will contain important information about JH
Capital, Easterly, and the Proposed Transaction. A copy of the definitive
proxy statement will be sent when available to all stockholders of
Easterly seeking the required stockholder approvals. Investors and
stockholders can obtain free copies of the preliminary proxy statement
and other documents filed with the SEC by Easterly through the web site
maintained by the SEC at www.sec.gov.
In addition, investors and stockholders can obtain free copies of the
preliminary proxy statement once it is available from Easterly by
accessing Easterly's website at www.easterlyacquisition.com.

Forward-Looking Statements

This communication contains "forward-looking statements" within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995, known
as the PSLRA. Forward-looking statements may relate to the Proposed
Transaction and any other statements relating to future results,
strategy and plans of Easterly and JH Capital (including certain
projections, business trends, and statements which may be identified by
the use of the words "plans", "expects" or "does not expect",
"estimated", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or that state
certain actions, events or results "may", "could", "would", "might",
"projects", "will" or "will be taken", "occur" or "be achieved").
Forward-looking statements are based on the opinions and estimates of
management of Easterly or JH Capital, as the case may be, as of the date
such statements are made, and they are subject to known and unknown
risks, uncertainties, assumptions and other factors that may cause the
actual results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. For JH Capital, these risks and
uncertainties include, but are not limited to, its revenues and
operating performance, general economic conditions, industry trends,
legislation or regulatory requirements affecting the business in which
it is engaged, management of growth, its business strategy and plans,
fluctuations in debt purchasing, investigations or enforcement actions
by governmental authorities, individual and class action lawsuits, the
result of future financing efforts and its dependence on key personnel.
For Easterly, factors include, but are not limited to, the successful
combination of Easterly with JH Capital's business, amount of
redemptions, the ability to retain key personnel and the ability to
achieve stockholder and regulatory approvals and to successfully close
the transaction. Additional information on these and other factors that
may cause actual results and Easterly's performance to differ materially
is included in Easterly's periodic reports filed with the SEC, including
but not limited to Easterly's Form 10-K for the year ended December 31,
2017 and subsequent Forms 10-Q. Copies may be obtained by contacting
Easterly or the SEC. Readers are cautioned not to place undue reliance
upon any forward-looking statements, which speak only as of the date
made. These forward-looking statements are made only as of the date
hereof, and Easterly undertakes no obligations to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.

No Offer or Solicitation

This communication is for informational purposes only and is neither an
offer to sell or purchase, nor the solicitation of an offer to buy or
sell any securities, nor is it a solicitation of any vote, consent, or
approval in any jurisdiction pursuant to or in connection with the
Proposed Transaction or otherwise, nor shall there be any sale, issuance
or transfer of securities in any jurisdiction in contravention of
applicable law.

Participants in Solicitation

Easterly and JH Capital, and their respective directors and executive
officers, may be deemed participants in the solicitation of proxies of
Easterly stockholders in respect of the Proposed Transaction.
Information about the directors and executive officers of Easterly is
set forth in Easterly's Form 10-K for the year ended December 31, 2017.
Information about the directors and executive officers of JH Capital and
more detailed information regarding the identity of all potential
participants, and their direct and indirect interests, by security
holdings or otherwise, are set forth in Easterly's preliminary proxy
statement. Investors may obtain additional information about the
interests of such participants by reading such preliminary proxy
statement.

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