Dynex Capital, Inc. was founded on December 18, 1987, and operates as an internally managed real estate investment trust specializing in mortgage assets, primarily leveraging speculative investments. The company commenced operations in 1988 and, from its inception through 2000, focused chiefly on a variety of loans, including single-family and commercial mortgages as well as manufactured home loans. Since 2000, Dynex Capital has shifted its focus to investing in both agency and non-agency mortgage-backed securities. Agency mortgage-backed securities, which include residential and commercial categories, are backed by principal and interest guarantees from the U.S. government or government-sponsored enterprises such as Fannie Mae and Freddie Mac. In contrast, non-agency mortgage-backed securities lack such payment guarantees. The company's main source of income is net interest income—the surplus generated when investment earnings exceed the interest costs of funding these investments. Company website: http://www.dynexcapital.com Company address: 4991 Lake Brook Drive Suite 100 Glen Allen, Virginia 23060-9245

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