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Orchid Island Capital Announces February 2025 Monthly Dividend and January 31, 2025 RMBS Portfolio Characteristics

1. Orchid Island Capital declared a monthly dividend of $0.12 per share. 2. Next dividend announcement expected on March 19, 2025. 3. Company must distribute 90% of REIT taxable income to avoid taxes. 4. Current share count increased to 93 million from 82 million in a year. 5. Portfolio primarily consists of Agency RMBS with significant borrowings.

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Why Bullish?

The ongoing dividend payments indicate financial stability and investor confidence. Historically, consistent dividends attract investors, potentially boosting stock prices.

How important is it?

Regular dividends show financial health, essential for REIT investors. This can influence stock attractiveness significantly.

Why Short Term?

Immediate investor reactions may uplift stock value upon dividend announcements. Short-term price movements often correlate with dividends.

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RMBSFNMFRE
February 2025 Monthly Dividend of $0.12 Per Share of Common StockRMBS Portfolio Characteristics as of January 31, 2025Next Dividend Announcement Expected March 19, 2025 VERO BEACH, Fla., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of February 2025. The dividend of $0.12 per share will be paid March 28, 2025 to holders of record of the Company’s common stock on February 28, 2025, with an ex-dividend date of February 28, 2025. The Company plans on announcing its next common stock dividend on March 19, 2025. The Company intends to make regular monthly cash distributions to its holders of common stock. In order to qualify as a real estate investment trust (“REIT”), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future. As of February 12, 2025, the Company had 93,293,628 shares of common stock outstanding. As of January 31, 2025, the Company had 90,344,128 shares of common stock outstanding, As of December 31, 2024, the Company had 82,622,464 shares of common stock outstanding. RMBS Portfolio Characteristics Details of the RMBS portfolio as of January 31, 2025 are presented below. These figures are preliminary and subject to change. The information contained herein is an intra-quarter update created by the Company based upon information that the Company believes is accurate: RMBS Valuation CharacteristicsRMBS Assets by AgencyInvestment Company Act of 1940 (Whole Pool) Test ResultsRepurchase Agreement Exposure by CounterpartyRMBS Risk Measures About Orchid Island Capital, Inc. Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company’s distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. RMBS Valuation Characteristics ($ in thousands)                                                                                     Realized                                      Realized  Nov-24 -                                      Jan-25  Jan-25                      Net          Weighted  CPR  CPR                      Weighted          Average  (1-Month)  (3-Month)  Modeled Interest   Current  Fair  % of  Current  Average          Maturity  (Reported  (Reported  Rate Sensitivity (1) Type Face  Value  Portfolio  Price  Coupon  GWAC  Age  (Months)  in Feb)  in Feb)  (-50 BPS)  (+50 BPS) Fixed Rate RMBS                                                30yr 3.0 $887,865  $768,917   13.69%  86.60   3.00%  3.48%  47   306   5.8%  6.6% $23,425  $(23,693)30yr 3.5  174,490   156,934   2.79%  89.94   3.50%  4.04%  59   288   5.4%  5.9%  4,486   (4,521)30yr 4.0  522,535   479,803   8.54%  91.82   4.00%  4.78%  36   320   2.8%  4.3%  12,775   (13,411)30yr 4.5  302,188   285,596   5.09%  94.51   4.50%  5.44%  31   325   4.9%  7.6%  6,477   (6,945)30yr 5.0  571,127   553,519   9.86%  96.92   5.00%  5.94%  26   329   7.4%  6.2%  11,914   (12,969)30yr 5.5  580,027   577,435   10.28%  99.55   5.50%  6.47%  12   345   4.6%  4.6%  11,753   (13,147)30yr 6.0  1,191,167   1,209,426   21.54%  101.53   6.00%  6.98%  13   342   6.0%  7.8%  19,215   (22,516)30yr 6.5  1,207,302   1,247,854   22.22%  103.36   6.50%  7.43%  10   346   5.7%  10.1%  14,480   (18,205)30yr 7.0  305,454   320,224   5.70%  104.84   7.00%  7.94%  15   337   18.8%  25.6%  2,837   (3,584)30yr Total  5,742,155   5,599,708   99.73%  97.52   5.21%  6.06%  23   331   6.2%  8.2%  107,362   (118,991)Total Pass-Through MBS  5,742,155   5,599,708   99.73%  97.52   5.21%  6.06%  23   331   6.2%  8.2%  107,362   (118,991)Structured MBS                                                IO 20yr 4.0  6,870   636   0.01%  9.27   4.00%  4.57%  157   77   9.2%  9.3%  4   (4)IO 30yr 3.0  2,588   308   0.01%  11.91   3.00%  3.64%  120   230   0.7%  0.9%  1   (2)IO 30yr 4.0  70,724   13,399   0.24%  18.95   4.00%  4.60%  125   226   4.7%  5.6%  (124)  74 IO 30yr 4.5  3,092   567   0.01%  18.34   4.50%  4.99%  175   171   8.3%  8.1%  -   (1)IO 30yr 5.0  1,664   340   0.01%  20.40   5.00%  5.37%  175   173   36.5%  19.1%  (2)  - IO Total  84,938   15,250   0.27%  17.95   4.01%  4.59%  130   211   5.7%  6.1%  (121)  67 IIO 30yr 4.0  21,763   172   0.00%  0.79   0.00%  4.40%  88   260   0.5%  0.5%  94   (62)Total Structured RMBS  106,701   15,422   0.27%  14.45   3.19%  4.55%  122   221   4.6%  5.0%  (27)  5                                                  Total Mortgage Assets $5,848,856  $5,615,130   100.00%      5.17%  6.03%  25   329   6.2%  8.2% $107,335  $(118,986)     Hedge Modeled Interest   Notional Period Rate Sensitivity (1) Hedge Balance End (-50 BPS)  (+50 BPS) 5-Year Treasury Future(2) $(277,500)Mar-25 $(5,584) $5,498 10-Year Treasury Future(3) $(193,500)Mar-25 $(6,177) $5,966 10-Year Ultra Treasury Future(4) $(117,500)Mar-25 $(5,189) $4,951 Swaps  (3,386,800)May-31  (91,761)  88,467 Hedge Total $(3,975,300)  $(108,711) $104,882 Rate Shock Grand Total      $(1,376) $(14,104) (1) Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant SOFR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially.(2) Five-year Treasury futures contracts were valued at prices of $106.39 at January 31, 2025. The market value of the short position was $295.2 million.(3) Ten-year Treasury futures contracts were valued at prices of $108.84 at January 31, 2025. The market value of the short position was $210.6 million .(4) Ten-year Ultra Treasury futures contracts were valued at prices of $111.38 at January 31, 2025. The market value of the short position was $130.9 million. RMBS Assets by Agency        ($ in thousands)              Percentage   Fair  of Asset Category Value  Portfolio As of January 31, 2025        Fannie Mae $3,978,208   70.8%Freddie Mac  1,636,923   29.2%Total Mortgage Assets $5,615,131   100.0% Investment Company Act of 1940 Whole Pool Test ($ in thousands)              Percentage   Fair  of Asset Category Value  Portfolio As of January 31, 2025        Non-Whole Pool Assets $200,372   3.6%Whole Pool Assets  5,414,759   96.4%Total Mortgage Assets $5,615,131   100.0% Borrowings By Counterparty                 ($ in thousands)                           Weighted  Weighted        % of  Average  Average    Total  Total  Repo  Maturity LongestAs of January 31, 2025 Borrowings  Debt  Rate  in Days MaturityMUFG Securities Canada, Ltd. $336,704   6.3%  4.42%  16 2/24/2025Citigroup Global Markets Inc  318,047   6.0%  4.44%  26 2/27/2025ABN AMRO Bank N.V.  295,020   5.5%  4.42%  18 2/18/2025Wells Fargo Bank, N.A.  291,347   5.5%  4.43%  18 3/28/2025Goldman, Sachs & Co  270,979   5.1%  4.45%  27 2/28/2025Merrill Lynch, Pierce, Fenner & Smith  270,124   5.1%  4.45%  21 2/21/2025RBC Capital Markets, LLC  266,646   5.0%  4.45%  20 2/20/2025DV Securities, LLC Repo  250,076   4.7%  4.45%  56 3/28/2025Cantor Fitzgerald & Co  247,994   4.7%  4.46%  38 3/10/2025Marex Capital Markets Inc.  242,454   4.6%  4.43%  48 3/24/2025J.P. Morgan Securities LLC  233,790   4.4%  4.48%  7 2/27/2025South Street Securities, LLC  228,248   4.3%  4.45%  35 4/29/2025Mirae Asset Securities (USA) Inc.  221,243   4.2%  4.44%  89 5/19/2025Clear Street LLC  209,391   3.9%  4.52%  48 3/20/2025ASL Capital Markets Inc.  208,451   3.9%  4.47%  44 3/21/2025ING Financial Markets LLC  205,471   3.9%  4.45%  48 3/20/2025Mitsubishi UFJ Securities (USA), Inc.  201,481   3.8%  4.49%  13 2/18/2025Daiwa Securities America Inc.  199,237   3.7%  4.45%  24 2/24/2025StoneX Financial Inc.  197,637   3.7%  4.44%  48 3/28/2025The Bank of Nova Scotia  192,152   3.6%  4.45%  49 3/21/2025Bank of Montreal  189,078   3.6%  4.45%  24 2/24/2025Banco Santander SA  141,954   2.7%  4.44%  18 2/18/2025Nomura Securities International, Inc.  70,278   1.3%  4.45%  18 2/18/2025Lucid Prime Fund, LLC  28,789   0.5%  4.46%  13 2/13/2025Total Borrowings $5,316,591   100.0%  4.45%  32 5/19/2025 Contact: Orchid Island Capital, Inc.Robert E. Cauley3305 Flamingo Drive, Vero Beach, Florida 32963Telephone: (772) 231-1400

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