FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE Republic of Ireland), AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

14 September 2021

EJF Investments Ltd

Investment Update

The Board of Directors of EJF Investments Ltd ("EJFI" or the "Company") has received notification from the Company's manager, EJF Investments Manager LLC (the "Manager") that the optional redemption of the outstanding notes and preferred shares ("Preferred Shares") issued by Financials Note Securitization 2019-1 Ltd ("FINS 2019-1"), which is still subject to settlement, is expected to take place on 16 September 2021.

FINS 2019-1 is a securitisation managed by an affiliate of EJF Capital LLC ("EJF Capital") and sponsored by EJF Capital, the sole owner of the voting interests in the Manager, and therefore a related party of the Company.

FINS 2019-1 was issued in July 2019 with approximately $250 million of aggregate par value in collateral, comprising subordinated debt issued by community banks and insurance companies primarily domiciled in the United States.   The Company holds an indirect interest in the Preferred Shares via its subsidiary's investment in EJF Investments LP.  

The Manager believes that current market conditions may create an attractive environment for the secondary market sale of the underlying collateral at a premium to par, and to the extent collateral is not sold, a re-securitisation of such collateral. A new issue securitisation sponsored by EJF Capital would, among other things, potentially provide the Company with an additional risk retention investment opportunity in the future.

The Manager does not believe the redemption of FINS 2019-1 would have a material impact on the Company's net asset value when compared to the current valuation of the Preferred Shares.  However, the Company's subsidiary owns a minority interest in EJF CDO Manager LLC ("EJF CDO Manager"), which holds the CDO management contract for FINS 2019-1.  This contract will be extinguished upon the redemption, resulting in a decrease in the valuation of EJF CDO Manager of approximately $1.25 million. EJF CDO Manager may potentially enter into a new CDO management contract for any subsequent EJF sponsored new issue securitisation (referred to above).

ENQUIRIES

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Hammad Khan / Matt Gill

pstage@ejfcap.com / hkhan@ejfcap.com / mgill@ejfcap.com

+44 203 752 6775 / +44 203 752 6771 / +44 203 752 6776

For the Company Secretary and Administrator

BNP Paribas Securities Services S.C.A Jersey Branch

jersey.bp2s.ejf.cosec@bnpparibas.com

+44 1534 709 181/ +44 1481 750 822

For the Broker

Numis Securities Limited David Luck d.luck@numis.com

+44 20 7260 1301

About EJF Investments Ltd

EJFI is a registered closed-ended limited liability company incorporated in Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016 with registered number 122353. The Company is regulated by the Jersey Financial Services Commission (the "JFSC"). The JFSC is protected by both the Collective Investment Funds (Jersey) Law 1988 and the Financial Services (Jersey) Law 1998, as amended, against liability arising from the discharge of its functions under such laws.

The JFSC has not reviewed or approved this announcement.

LEI: 549300XZYEQCLA1ZAT25

Investor information & warnings

The latest available information on the Company can be accessed via its website at www.ejfi.com.

This communication has been issued by, and is the sole responsibility of, the Company and is for information purposes only. It is not, and is not intended to be an invitation, inducement, offer or solicitation to deal in the shares of the Company. The price and value of shares in the Company and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of shares in the Company. An investment in the Company should be considered only as part of a balanced portfolio of which it should not form a disproportionate part. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.