Orchid Island Capital Announces May 2026 Monthly Dividend and April 30, 2026 RMBS Portfolio Characteristics

• May 2026 Monthly Dividend of $0.10 Per Share of Common Stock
• RMBS Portfolio Characteristics as of April 30, 2026
• Next Dividend Announcement Expected June 9, 2026

VERO BEACH, Fla., May 13, 2026 (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 May 2026. The dividend of $0.10 per share will be paid June 29, 2026 to holders of record of the Company’s common stock on May 29, 2026, with an ex-dividend date of May 29, 2026. The Company plans on announcing its next common stock dividend on June 9, 2026.

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 May 13, 2026 and April 30, 2026, the Company had 200,700,226 shares of common stock outstanding. As of March 31, 2026, the Company had 196,700,226 shares of common stock outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of April 30, 2026 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 Characteristics
• RMBS Assets by Agency
• Investment Company Act of 1940 (Whole Pool) Test Results
• Repurchase Agreement Exposure by Counterparty
• RMBS 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, 2025.

RMBS Valuation Characteristics ($ in thousands)
                                                                                  Realized                                      Realized  Feb-26 -                                      Apr-26  Apr-26                      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 May)  in May)  (-50 BPS)  (+50 BPS) Fixed Rate RMBS
                                             15yr 4.5 TBA $250,000  $248,076   2.14%   99.23   4.50%   5.41%   8   170   n/a   n/a  $3,518  $(4,113) 15yr Total  250,000   248,076   2.14%   99.23   4.50%   5.41%   8   170   n/a   n/a   3,518   (4,113) 30yr 3.0  320,298   285,121   2.46%   89.02   3.00%   3.52%   60   293   3.9%   6.7%   8,532   (8,672) 30yr 3.5  37,630   34,449   0.30%   91.55   3.50%   4.30%   79   262   1.1%   0.8%   1,012   (1,032) 30yr 4.0  48,820   46,472   0.40%   95.19   4.00%   4.77%   83   272   12.9%   10.6%   1,187   (1,228) 30yr 4.5  442,020   428,330   3.70%   96.90   4.50%   5.46%   28   328   3.5%   7.7%   9,350   (10,333) 30yr 5.0  1,908,999   1,893,235   16.35%   99.17   5.00%   6.00%   13   344   5.2%   5.6%   35,770   (42,269) 30yr 5.5  3,519,332   3,577,448   30.90%   101.65   5.50%   6.46%   13   343   5.9%   8.6%   53,782   (67,626) 30yr 6.0  3,155,624   3,259,141   28.15%   103.28   6.00%   6.92%   16   339   18.5%   21.7%   32,555   (45,492) 30yr 6.5  1,518,506   1,590,370   13.74%   104.73   6.50%   7.39%   20   335   27.3%   26.7%   10,135   (15,677) 30yr 7.0  190,888   202,488   1.75%   106.08   7.00%   7.95%   30   321   42.9%   33.1%   1,303   (1,742) 30yr Total  11,142,117   11,317,054   97.75%   101.57   5.59%   6.53%   18   338   12.7%   14.9%   153,626   (194,071) Total Pass-Through RMBS  11,392,117   11,565,130   99.89%   101.52   5.57%   6.50%   17   334   12.7%   14.9%   157,144   (198,184) Structured RMBS
                                             IO 20yr 4.0  4,902   373   0.00%   7.60   4.00%   4.56%   171   63   14.4%   11.7%   1   (1) IO 30yr 4.0  61,029   11,063   0.10%   18.13   4.00%   4.60%   139   211   5.3%   4.6%   (70)   102 IO 30yr 4.5  2,656   497   0.00%   18.70   4.50%   4.99%   189   157   11.0%   8.7%   (2)   - IO 30yr 5.0  1,396   274   0.00%   19.63   5.00%   5.37%   190   157   1.8%   4.4%   (2)   1 IO Total  69,983   12,207   0.11%   17.44   4.04%   4.62%   145   197   6.1%   5.2%   (73)   102 IIO 30yr 4.0  14,954   97   0.00%   0.65   0.16%   4.40%   103   245   12.8%   8.6%   69   (44) Total Structured RMBS  84,937   12,304   0.11%   14.49   3.36%   4.58%   137   206   7.3%   5.8%   (4)   58                                                  Total Mortgage Assets $11,477,054  $11,577,434   100.00%       5.55%   6.49%   18   333   12.7%   14.8%  $157,140  $(198,126) 

    Hedge Modeled Interest   Notional Period Rate Sensitivity (1) Hedge Balance End (-50 BPS)  (+50 BPS) 3-Month SOFR Futures $(390,000) Dec-26 $(2,113)  $2,113 5-Year Treasury Future(2)  (180,000) Aug-30  (3,747)   3,662 10-Year Treasury Future(3)  (123,600) Jan-33  (3,967)   3,909 10-Year Ultra Treasury Future(4)  (60,000) Nov-35  (2,669)   2,556 ERIS SOFR Swap Futures  (10,000) Jun-31  (195)   190 Swaps  (7,014,200) Nov-30  (143,920)   139,285 TBA Short  (155,000) May-26  (688)   1,310 Hedge Total $(7,932,800)   $(157,299)  $153,025 Rate Shock Grand Total      $(159)  $(45,101) 

(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 $107.84 at April 30, 2026. The market value of the short position was $194.1 million.
(3) Ten-year Treasury futures contracts were valued at prices of $110.59 at April 30, 2026. The market value of the short position was $136.7 million.
(4) Ten-year Ultra Treasury futures contracts were valued at prices of $112.86 at April 30, 2026. The market value of the short position was $67.7 million.

RMBS Assets by Agency        ($ in thousands)              Percentage   Fair  of Asset Category Value  Portfolio As of April 30, 2026        Fannie Mae $5,910,702   52.2% Freddie Mac  5,418,656   47.8% Total Mortgage Assets $11,329,358   100.0% 

Investment Company Act of 1940 Whole Pool Test ($ in thousands)              Percentage   Fair  of Asset Category Value  Portfolio As of April 30, 2026        Non-Whole Pool Assets $590,190   5.2% Whole Pool Assets  10,739,167   94.8% Total Mortgage Assets $11,329,357   100.0% 

Borrowings By Counterparty                 ($ in thousands)                           Weighted  Weighted        % of  Average  Average    Total  Total  Repo  Maturity LongestAs of April 30, 2026 Borrowings  Debt  Rate  in Days MaturityWells Fargo Securities, LLC $540,272   4.9%   3.79%   9 5/21/2026Hidden Road Partners Civ US LLC  500,781   4.6%   3.78%   27 5/28/2026Marex Capital Markets Inc.  498,421   4.6%   3.78%   80 7/23/2026ABN AMRO Bank N.V.  497,665   4.6%   3.77%   22 5/26/2026Citigroup Global Markets Inc  494,590   4.5%   3.78%   13 5/26/2026StoneX Financial Inc.  488,036   4.5%   3.79%   125 9/23/2026ASL Capital Markets Inc.  481,407   4.4%   3.79%   61 9/21/2026South Street Securities, LLC  477,914   4.4%   3.83%   76 11/13/2026The Bank of Nova Scotia  472,247   4.3%   3.78%   20 5/22/2026J.P. Morgan Securities LLC  461,915   4.2%   3.78%   26 5/26/2026RBC Capital Markets, LLC  451,723   4.1%   3.83%   73 7/27/2026DV Securities, LLC Repo  450,381   4.1%   3.78%   43 8/21/2026Cantor Fitzgerald & Co  440,165   4.0%   3.77%   22 5/28/2026Clear Street LLC  437,924   4.0%   3.79%   39 6/22/2026Daiwa Securities America Inc.  432,054   4.0%   3.79%   36 6/23/2026Banco Santander SA  426,957   3.9%   3.79%   14 5/19/2026Bank of Montreal  416,360   3.8%   3.79%   13 5/13/2026Goldman, Sachs & Co  406,319   3.7%   3.78%   27 5/27/2026Merrill Lynch, Pierce, Fenner & Smith  379,970   3.5%   3.79%   18 5/26/2026ING Financial Markets LLC  370,344   3.4%   3.80%   74 7/13/2026Mirae Asset Securities (USA) Inc.  328,612   3.0%   3.79%   29 6/17/2026Brean Capital, LLC  283,485   2.6%   3.79%   19 5/26/2026Mitsubishi UFJ Securities (USA), Inc.  244,377   2.2%   3.79%   22 5/22/2026MUFG Securities Canada, Ltd.  227,431   2.1%   3.78%   4 5/4/2026Nomura Securities International, Inc.  222,189   2.0%   3.79%   41 6/15/2026Mizuho Securities USA LLC  194,681   1.8%   3.79%   21 5/22/2026TD Securities (USA) LLC  172,885   1.6%   3.80%   43 6/12/2026Natixis, New York Branch  96,572   0.9%   3.78%   27 5/27/2026Lucid Prime Fund, LLC  31,400   0.3%   3.78%   14 5/14/2026Total Borrowings $10,927,077   100.0%   3.79%   38 11/13/2026

Contact:

Orchid Island Capital, Inc.
Robert E. Cauley
3305 Flamingo Drive, Vero Beach, Florida 32963
Telephone: (772) 231-1400