Recent Updates — DX-PC

Dynex Capital, Inc. entered into an underwriting agreement to issue and sell 4,800,000 shares of 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock at a liquidation preference of $25.00 per share, generating gross proceeds of approximately $120 million. The company granted underwriters a 30-day option to purchase an additional 720,000 shares. Net proceeds are expected to be approximately $116,220,000 after deducting the underwriting discount, with closing anticipated on September 29, 2026. Dynex Capital is a real estate investment trust that invests in mortgage assets backed by U.S. residential and commercial real estate.

Dynex Capital reported second quarter 2026 financial results with a total economic return of $0.81 per common share and a book value per common share of $12.90 as of June 30, 2026. The company declared a quarterly dividend of $0.51 per common share and raised $391 million in common equity through its at-the-market program. The total investment portfolio grew 11% to $27.6 billion, primarily driven by $2.8 billion in Agency MBS purchases. Dynex Capital is a REIT that invests in high-quality mortgage assets backed by U.S. residential and commercial real estate.