ATLANTA–(BUSINESS WIRE)–April 4, 2022–

The Boards of Directors of Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) and Angel Oak Dynamic Financial Strategies Income Term Trust (NYSE: DYFN) have approved a proposed reorganization of DYFN with and into FINS. The reorganization is intended to provide potential benefits to shareholders, including reduced operating expenses and greater secondary market liquidity, among others.

The proposed reorganization, which is expected to be completed in the second half of 2022, is subject to certain conditions, including the necessary approval of FINS shareholders and the satisfaction of applicable regulatory requirements and other customary closing conditions. The proposed reorganization would be effected by the transfer of all assets of DYFN to FINS in exchange only for newly issued common shares of beneficial interest of FINS at a ratio of each Fund’s net asset value. There will be no changes to the investment objectives, investment strategies or investment policies of FINS as a result of the proposed reorganization.

ABOUT THE FINS

FINS is a closed-end fund that invests primarily in US financial sector debt as well as selective opportunities across financial sector preferred and common stocks. Under normal circumstances, at least 50% of the FINS portfolio is publicly rated as investment grade or, if not rated, is judged by Angel Oak Capital Advisors, LLC (“Angel Oak”) to be investment grade. investment grade.

ABOUT DYFN

DYFN is a closed-end fund that invests primarily in US financial sector debt as well as selective opportunities in financial sector preferred and common stocks. Under normal circumstances, at least 50% of DYFN’s portfolio is publicly rated as investment grade or, if not rated, deemed by Angel Oak to be investment grade.

Information about the Funds, including the Funds’ annual and semi-annual reports and other regulatory filings of the Funds, can be found on the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov and on the Angel Oak website at https://angeloakcapital.com.

ABOUT ANGEL OAK CAPITAL ADVISORS, LLC

Angel Oak is an investment management firm focused on providing attractive fixed income investment solutions to its clients. Underpinned by a value-oriented approach, Angel Oak seeks to deliver attractive risk-adjusted returns through a combination of stable current earnings and price appreciation. Its experienced investment team seeks out the best opportunities in fixed income securities, with a specialization in mortgage-backed securities and other areas of structured credit.

FURTHER INFORMATION

The information contained in this press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy securities or the solicitation of a vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, there will also be no sale, issue or transfer of securities into any jurisdiction in violation of applicable law. No offer of securities will be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended.

In connection with the proposed reorganization, FINS plans to file with the SEC a combined information statement/prospectus and proxy statement. When the information statement/prospectus or management information circular, as the case may be, becomes available, shareholders are advised to read it because it will contain important information about the proposed transaction and related matters. The combined information statement/prospectus and proxy statement, when available, will be available free of charge on the SEC’s website at www.sec.gov.

Past performance is neither indicative nor a guarantee of future results. Investors should carefully consider the investment objective, risks, charges and expenses of FINS and DYFN before investing. There can be no assurance that the Funds will achieve their investment objectives. Investments in the Funds involve expenses and operating costs. The net asset value of the Funds will fluctuate with the value of the underlying securities . An investment in FINS or DYFN involves risks, is not suitable for all investors and is not intended to be a comprehensive investment program. Shares of closed-end funds are subject to investment risks, including the possible loss of invested capital. Closed-end funds often trade at a discount to their net asset value. Angel Oak, Registered Investment Advisor, is Investment Manager for FINS and DYFN. Destra Capital Advisors, LLC, a registered investment adviser, provides secondary market services for FINS and DYFN. Please contact your securities representative or call 1-877-855-3434 for information about FINS or DYFN.

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CONTACT: Media:

Trevor Davis, Gregory FCA for Angel Oak Capital Advisors

443-248-0359

[email protected]:

Randy Chrisman, Director of Marketing and Corporate Public Relations, Angel Oak Capital Advisors

404-953-4969

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA

SECTOR KEYWORD: FINANCE BANKING ADVICE PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES

SOURCE: Angel Oak Capital Advisors, LLC

Copyright BusinessWire 2022.

PUBLISHED: 04/04/2022 16:00/DISC: 04/04/2022 16:02

http://www.businesswire.com/news/home/20220404005524/en

Copyright BusinessWire 2022.