Annaly Capital Management (NLY) Provides Update to Shareholders

Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”) announced today an update on its portfolio and risk position, including preliminary financial information as of September 30, 2022, in light of sustained market volatility.

Below are preliminary updates on the Company’s business and financial performance, demonstrating Annaly’s continued ability to navigate challenging market environments:

• Book value per common share. We estimate that on a preliminary basis our book value per common share at September 30, 2022 was between $19.85 and $20.05 compared to $23.59 per common share at June 30, 2022.
• GAAP leverage and economic leverage. We estimate that on a preliminary basis our GAAP leverage ratio increased to approximately 5.8:1 at September 30, 2022, compared to 5.4:1 at June 30, 2022 and our economic leverage ratio increased to approximately 7.1:1 at September 30, 2022, compared to 6.6:1 at June 30, 2022.1
• Liquidity position. We have maintained a strong liquidity position. We estimate that on a preliminary basis we had cash and unencumbered Agency MBS of approximately $4.1 billion and total unencumbered assets of $6.0 billion, as of September 30, 2022.
• Cash dividend. As previously announced on September 8, 2022, we declared the third quarter 2022 common stock cash dividend of $0.88 per common share. This dividend is payable October 31, 2022, to common shareholders of record on September 30, 2022. We estimate that on a preliminary basis we generated earnings available for distribution in excess of our dividend for the third quarter 2022.

Per share amounts at September 30, 2022 are based on 468 million common shares issued and outstanding as of such date. Comparative per share amounts at June 30, 2022 are adjusted to give retroactive effect to the Company’s recently completed 1-for-4 reverse stock split.

As previously announced on October 5, 2022, Annaly will release its financial results for the quarter ended September 30, 2022 after the market close on Wednesday, October 26, 2022. The Company will conduct a conference call and audio webcast to discuss the results on Thursday, October 27, 2022 at 9:00 a.m. Eastern Time. Participants are encouraged to pre-register for the conference call to receive a unique PIN to gain immediate access to the call and bypass the live operator. Pre-registration may be completed by accessing the Pre-Registration link found on the homepage or “Investors” section of the Company’s website at www.annaly.com, or by using the following link: https://dpregister.com/sreg/10171506/f491665b6c.

Pre-registration may be completed at any time, including up to and after the call start time. Participants who would like to join the call but have not pre-registered can do so on the day of the event by dialing the numbers provided below and requesting the “Annaly Earnings Call.”

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