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.