Orchid Island Capital, Inc. Declares $0.12 Monthly Dividend for November 2024

November 2024 Monthly Dividend of $0.12 Per Share of Common Stock  Estimated Book Value Per Share as of November 8, 2024 of approximately $8.30 to $8.34RMBS Portfolio Characteristics as of October 31, 2024Next Dividend Announcement Expected December 10, 2024 VERO BEACH, Fla., Nov. 13, 2024 (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 November 2024. The dividend of $0.12 per share will be paid December 30, 2024 to holders of record of the Company’s common stock on November 29, 2024, with an ex-dividend date of November 29, 2024. The Company plans on announcing its next common stock dividend on December 10, 2024. 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 November 13, 2024 and October 31, 2024, the Company had 78,539,645 shares of common stock outstanding. As of September 30, 2024, the Company had 78,082,645 shares of common stock outstanding. Estimated November 8, 2024 Book Value Per Share The Company’s estimated book value per share as of November 8, 2024 was approximately $8.30 to $8.34, a decrease of 0.7% to 1.0% from the book value per share at September 30, 2024 of $8.40. The estimated book value per share includes a deduction for today's dividend declaration that will be paid on December 30, 2024. The Company computes book value per share by dividing total stockholders' equity by the total number of outstanding shares of common stock. At November 8, 2024, the Company's estimated total stockholders' equity was approximately $652.0 million to $655.0 million, with 78,539,645 shares of common stock outstanding. These figures and the resulting estimated book value per share are unaudited and will not be verified or reviewed by the Company’s independent registered public accounting firm or any third party. The Company is providing these figures intraperiod due to recent market volatility, and undertakes no obligation to update or revise such figures or to provide any such intraperiod updates in the future. RMBS Portfolio Characteristics Details of the RMBS portfolio as of October 31, 2024 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  Aug-24 -                            Oct-24  Oct-24                Net       Weighted CPR  CPR                Weighted       Average (1-Month)  (3-Month) Modeled Interest  Current Fair % of Current Average       Maturity (Reported  (Reported Rate Sensitivity (1) TypeFace Value Portfolio Price Coupon GWAC Age (Months) in Nov)  in Nov) (-50 BPS)  (+50 BPS) Fixed Rate RMBS                                      15yr 5.0 TBA$50,000 $49,867  0.93%  99.73  5.00%  5.89%  6  171  n/a   n/a $708  $(709)15yr Total 50,000  49,867  0.93%  99.73  5.00%  5.89%  6  171  n/a   n/a  708   (709)30yr 3.0 1,305,404  1,139,084  21.31%  87.26  3.00%  3.46%  43  311  7.1%   6.4%  38,513   (32,934)30yr 3.5 178,632  162,656  3.04%  91.06  3.50%  4.04%  56  292  7.4%   7.9%  4,851   (4,226)30yr 4.0 532,180  494,025  9.24%  92.83  4.00%  4.64%  69  284  8.8%   5.6%  13,065   (12,364)30yr 4.5 310,301  296,031  5.54%  95.40  4.50%  5.44%  28  328  7.7%   6.9%  6,498   (6,367)30yr 5.0 527,991  514,883  9.63%  97.52  5.00%  5.93%  25  330  5.4%   7.4%  10,308   (10,771)30yr 5.5 283,161  283,208  5.30%  100.02  5.50%  6.40%  17  339  5.0%   5.1%  5,216   (5,879)30yr 6.0 1,232,925  1,251,996  23.42%  101.55  6.00%  6.98%  10  346  16.9%   14.0%  17,554   (21,618)30yr 6.5 764,238  785,164  14.69%  102.74  6.50%  7.43%  10  347  23.7%   17.4%  7,196   (10,475)30yr 7.0 338,430  353,181  6.61%  104.36  7.00%  7.94%  12  342  39.0%   31.8%  2,215   (4,037)30yr Total 5,473,262  5,280,228  98.77%  96.47  4.93%  5.72%  28  327  13.6%   11.1%  105,416   (108,671)Total Pass-Through MBS 5,523,262  5,330,095  99.70%  96.50  4.93%  5.72%  28  325  13.6%   11.1%  106,124   (109,380)Structured MBS                                      IO 20yr 4.0 7,275  696  0.01%  9.57  4.00%  4.57%  154  80  9.4%   10.7%  (38)  (45)IO 30yr 3.0 2,680  322  0.01%  12.00  3.00%  3.64%  117  233  25.3%   10.0%  (7)  (8)IO 30yr 4.0 72,950  13,700  0.26%  18.78  4.00%  4.60%  122  229  7.5%   6.8%  (501)  (171)IO 30yr 4.5 3,186  597  0.01%  18.75  4.50%  4.99%  172  175  6.6%   7.4%  (17)  (15)IO 30yr 5.0 1,725  354  0.01%  20.54  5.00%  5.37%  172  176  10.6%   7.4%  (13)  (7)IO Total 87,816  15,669  0.29%  17.84  4.01%  4.60%  127  214  8.2%   7.3%  (576)  (246)IIO 30yr 4.0 23,236  248  0.00%  1.07  0.00%  4.40%  85  263  19.5%   10.6%  79   (88)Total Structured RMBS 111,052  15,917  0.30%  14.33  3.17%  4.55%  118  224  10.6%   8.0%  (497)  (334)                                       Total Mortgage Assets$5,634,314 $5,346,012  100.00%     4.90%  5.70%  30  323  13.5%   11.1% $105,627  $(109,714)                                           Hedge Modeled Interest  Notional Period Rate Sensitivity (1) HedgeBalance End (-50 BPS)  (+50 BPS) 3-Month SOFR Futures(2)$(455,900)Oct-25 $(5,699) $5,699 10-Year Treasury Future(3) (12,500)Dec-24  (394)  394 Swaps (3,486,800)Jun-30  (87,485)  84,461 TBA (200,000)Nov-24  (6,063)  5,408 Hedge Total$(4,155,200)  $(99,641) $95,962 Rate Shock Grand Total     $5,986  $(13,752)              (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)Amounts for SOFR futures contracts represents the average quarterly notional amount.(3)Ten-year Treasury futures contracts were valued at prices of $110.47 at October 31, 2024. The market value of the short position was $13.8 million. RMBS Assets by Agency     ($ in thousands)         Percentage  Fair of Asset CategoryValue Portfolio As of October 31, 2024     Fannie Mae$3,627,479 67.9%Freddie Mac 1,718,533 32.1%Total Mortgage Assets$5,346,012 100.0%       Investment Company Act of 1940 Whole Pool Test ($ in thousands)         Percentage  Fair of Asset CategoryValue Portfolio As of October 31, 2024     Non-Whole Pool Assets$206,643 3.9%Whole Pool Assets 5,139,369 96.1%Total Mortgage Assets$5,346,012 100.0% Borrowings By Counterparty          ($ in thousands)                Weighted Weighted      % of Average Average   Total Total Repo Maturity LongestAs of October 31, 2024Borrowings Debt Rate in Days MaturityMerrill Lynch, Pierce, Fenner & Smith$376,573 7.3% 5.15% 20 11/25/2024ABN AMRO Bank N.V. 368,037 7.2% 5.00% 15 11/15/2024ASL Capital Markets Inc. 341,650 6.7% 5.22% 14 11/15/2024Cantor Fitzgerald & Co 281,564 5.5% 5.01% 8 11/8/2024DV Securities, LLC Repo 266,219 5.2% 5.02% 19 11/29/2024Mitsubishi UFJ Securities (USA), Inc 256,092 5.0% 4.99% 21 11/25/2024J.P. Morgan Securities LLC 247,234 4.8% 5.03% 8 11/25/2024Banco Santander SA 246,554 4.8% 5.33% 18 11/18/2024Daiwa Securities America Inc. 241,139 4.7% 5.00% 24 11/25/2024Wells Fargo Bank, N.A. 236,880 4.6% 5.00% 18 11/18/2024Citigroup Global Markets Inc 236,331 4.6% 4.93% 25 11/25/2024ING Financial Markets LLC 225,593 4.4% 5.01% 8 11/8/2024Marex Capital Markets Inc. 218,101 4.3% 5.00% 21 11/21/2024Goldman, Sachs & Co 202,206 3.9% 5.02% 18 11/18/2024Bank of Montreal 200,535 3.9% 5.03% 14 11/14/2024Clear Street LLC 193,535 3.8% 5.21% 17 11/20/2024South Street Securities, LLC 190,161 3.7% 4.97% 41 1/24/2025Mirae Asset Securities (USA) Inc. 189,233 3.7% 5.08% 18 11/18/2024StoneX Financial Inc. 155,898 3.0% 5.01% 21 11/21/2024The Bank of Nova Scotia 147,479 2.9% 5.03% 15 11/15/2024RBC Capital Markets, LLC 143,022 2.8% 5.31% 14 11/14/2024Nomura Securities International, Inc. 73,140 1.4% 4.90% 46 12/16/2024Lucid Prime Fund, LLC 47,591 0.9% 5.03% 14 11/14/2024Wells Fargo Securities, LLC 22,686 0.4% 4.88% 84 1/23/2025Lucid Cash Fund USG LLC 17,131 0.3% 5.03% 14 11/14/2024Total Borrowings$5,124,584 100.0% 5.06% 18 1/24/2025            Contact: Orchid Island Capital, Inc.Robert E. Cauley3305 Flamingo Drive, Vero Beach, Florida 32963Telephone: (772) 231-1400