Earnings release
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NYSE : ECCN Y S E : E C C STATEMENTS (UNAUDITED)S T A T E M E N T S ( U N A U D I T E D ) CONSOLIDATED FINANCIALC O N S O L I D A T E D F I N A N C I A L SEPTEMBER 30, 2025S E P T E M B E R 3 0 , 2 0 2 5
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TableofContents Consolidated Statement of Assets and Liabilities..................................... 2 Consolidated Schedule of Investments............................................ 3 Consolidated Statement of Operations............................................ 1 2 Consolidated Statement of Comprehensive Income................................... 1 3 Consolidated Statements of Operations........................................... 1 4 Consolidated Statements of Changes in Net Assets................................... 1 6 Consolidated Statement of Cash Flows............................................ 1 7 Notes to Consolidated Financial Statements........................................ 1 8 Consolidated Financial Highlights............................................... 4 7 Supplemental Information..................................................... 5 0 1
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Statement of Assets and Liabilities AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) ASSETS Investments, at fair value (cost $1,636,868,764)(1) ............................................. $1,434,085,798 Unrealized appreciation on forward currency contracts.......................................... 74,280 Cash and cash equivalents (restricted cash of $5,560,000)......................................... 56,759,115 Cash denominated in foregin currency (cost $724,968).......................................... 851,076 Interest receivable ............................................................. 47,821,127 Receivable for shares of common stock issued pursuant to the Company’s dividend reinvestment plan................. 2,064,105 Receivable for securities sold........................................................ 1,620,000 Prepaid expenses.............................................................. 463,105 Total Assets ............................................................... 1,543,738,606 LIABILITIES Unsecured notes issued and outstanding, at fair value (aggregate principal amount of $285,523,800) (Note 8)............. 277,452,459 Mandatorily redeemable preferred stock, at fair value, net of share issuance (discount)/premium of $4,806 (4,658,797 shares issued and outstanding) (Note 7)........................................................ 113,936,478 Payable for securities purchased...................................................... 16,326,003 Incentive fee payable............................................................ 8,720,156 Management fee payable.......................................................... 5,365,932 Deferred tax liability............................................................ 1,550,910 Unrealized depreciation on forward currency contracts.......................................... 1,194,226 Professional fees payable.......................................................... 601,636 Directors’fees payable ........................................................... 298,125 Administration fees payable........................................................ 247,170 Due to affiliates .............................................................. 62,247 Tax expense payable............................................................ 15,025 Interest payable .............................................................. 5,606 Other expenses payable .......................................................... 70,932 Total Liabilities ............................................................. 425,846,905 TEMPORARY EQUITY (Note 2) 7.00% Series AA Convertible Perpetual Preferred Stock (4,630,283 shares outstanding) (Note 7).................... 109,169,173 6.75% Series D Perpetual Preferred Stock (4,218,232 shares outstanding) (Note 7)............................ 86,031,890 7.00% Series AB Convertible Perpetual Preferred Stock (295,452 shares outstanding) (Note 7)..................... 7,236,488 Total Temporary Equity......................................................... 202,437,551 COMMITMENTS AND CONTINGENCIES (Note 10) NET ASSETS applicable to common stock, $0.001 par value, 200,000,000 shares authorized, 130,832,939 shares issued and outstanding ................................................................ $ 915,454,150 NET ASSETS consist of: Paid-in capital ............................................................... $1,387,112,071 Aggregate distributable earnings (losses)................................................. (469,672,858) Accumulated other comprehensive income (loss)............................................. (1,985,063) Total Net Assets............................................................. $ 915,454,150 Net asset value per share of common stock................................................. $ 7.00 (1) Includes $22,041,378 of affiliated investments at fair value (cost $21,260,759). See Note 5 “Related Party Transactions”for further discussion. See accompanying notes to the consolidated financial statements 2
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Issuer(1) Investment Description Acquisition Date(2) Principal Amount / Shares Cost Fair Value (3) %o f Net Assets Investments, at fair value(5) Collateralized Loan Obligation Debt(4)(6) Structured Finance United States AGL CLO 13 Ltd................ Secured Note – Class E, 11.09% (3M SOFR + 6.76%, due 10/20/2034) 06/14/23 $ 5,950,000 $ 5,689,232 $ 5,916,415 0.65% Ares LXI CLO Ltd................ Secured Note – Class F-R, 12.33% (3M SOFR + 8.00%, due 04/20/2037) 03/27/24 212,921 212,921 211,119 0.02% Battalion CLO XXI Ltd.............. Secured Note – Class E, 11.04% (3M SOFR + 6.72%, due 07/15/2034) 06/27/23 1,625,000 1,353,584 1,400,841 0.15% Dryden 53 CLO, Ltd............... Secured Note – Class F, 12.02% (3M SOFR + 7.76%, due 01/15/2031) 11/28/17 1,664,500 1,483,550 911,869 0.10% Dryden 68 CLO, Ltd............... Secured Note – Class E-R, 11.33% (3M SOFR + 7.01%, due 07/15/2035) 04/24/24 4,750,000 4,540,525 4,706,138 0.51% Dryden 75 CLO, Ltd............... Secured Note – Class E-R2, 11.18% (3M SOFR + 6.86%, due 04/14/2034) 05/30/23 3,200,000 2,830,179 3,171,906 0.35% HarbourView CLO VII-R, Ltd........... Secured Note – Class F, 12.86% (3M SOFR + 8.53%, due 07/18/2031) 05/17/18 733,333 703,561 300,667 0.03% KKR CLO 17 Ltd................ Secured Note – Class E-R, 11.97% (3M SOFR + 7.65%, due 04/15/2034) 09/07/23 3,900,000 3,691,043 3,829,314 0.42% Morgan Stanley Eaton Vance CLO 2023-19, Ltd. . . Secured Note – Class E-R, 9.82% (3M SOFR + 5.50%, due 07/15/2038) 06/13/25 1,190,000 1,134,296 1,169,2 60 0.13% Octagon Investment Partners 27, Ltd........ Secured Note – Class F-R, 12.43% (3M SOFR + 8.11%, due 07/15/2030) 07/05/18 900,000 859,777 269,730 0.03% Octagon Investment Partners 43, Ltd........ Secured Note – Class E, 11.18% (3M SOFR + 6.86%, due 10/25/2032) 06/26/23 4,325,000 4,032,404 4,324,090 0.47% Octagon 59, Ltd................. Secured Note – Class E, 11.81% (3M SOFR + 7.60%, due 05/15/2035) 06/12/23 3,375,000 3,139,964 3,365,514 0.37% Rockford Tower CLO 2021-2, Ltd.......... Secured Note – Class E, 10.99% (3M SOFR + 6.66%, due 07/20/2034) 02/06/24 3,400,000 3,202,338 3,322,134 0.36% Wind River 2013-2 CLO Ltd............ Secured Note – Class E1-R, 11.34% (3M SOFR + 7.01%, due 10/18/2030) 05/16/24 2,250,000 2,248,065 2,250,113 0.25% Total Collateralized Loan Obligation Debt......... 35,121,439 35,149,110 3.84% Collateralized Loan Obligation Equity(4)(8)(9) Structured Finance United States 1988 CLO 1 Ltd................. Income Note (effective yield 19.67%, maturity 10/15/2039)(10) 09/23/22 9,196,000 5,761,824 5,369,856 0.59% 1988 CLO 2 Ltd................. Income Note (effective yield 20.45%, maturity 04/15/2038)(10) 02/08/23 6,334,000 3,737,334 3,810,735 0.42% 1988 CLO 3 Ltd................. Income Note (effective yield 2.59%, maturity 10/15/2040)(10) 09/12/23 9,267,000 6,238,220 5,372,641 0.59% 1988 CLO 4 Ltd................. Income Note (effective yield 8.23%, maturity 04/15/2037)(10) 04/09/24 7,970,000 6,335,493 5,633,134 0.62% 1988 CLO 5 Ltd................. Income Note (effective yield 9.51%, maturity 07/15/2037)(10) 06/03/24 9,250,000 6,271,430 4,996,485 0.55% 1988 CLO 6 Ltd................. Income Note (effective yield 15.78%, maturity 04/15/2038)(10) 02/20/25 5,125,000 4,414,005 4,354,420 0.48% ALM VIII, Ltd. ................P r eferred Share (effective yield 0.00%, maturity 10/15/2028)(11) 06/02/16 8,725,000 — 12,215 0.00% AMMC CLO 23, Limited............ Subordinated Note (effective yield 17.46%, maturity 07/17/2038) 09/19/25 5,279,000 3,378,560 3,436,546 0.38% AMMC CLO 28, Limited............ Subordinated Note (effective yield 16.11%, maturity 07/20/2037) 01/28/25 20,925,000 15,958,069 15,113,329 1.65% AMMC CLO 30, Limited............ Subordinated Note (effective yield 14.18%, maturity 01/15/2037) 12/10/24 3,475,000 2,560,098 2,527,763 0.28% Anchorage Credit Funding 12, Ltd......... Income Note (effective yield 13.11%, maturity 10/25/2038) 09/04/20 9,250,000 6,120,340 5,083,277 0.56% Anchorage Credit Funding 13, Ltd......... Subordinated Note (effective yield 12.40%, maturity 07/27/2039) 05/25/21 1,200,000 953,743 811,020 0.09% Ares Loan Funding IV, Ltd............ Subordinated Note (effective yield 10.38%, maturity 10/15/2038) 05/06/24 2,500,000 1,683,921 1,676,593 0.18% Ares Loan Funding V, Ltd............. Subordinated Note (effective yield 16.43%, maturity 07/25/2037) 02/07/25 12,400,000 8,722,287 8,381,876 0.92% Ares XXXIX CLO Ltd.............. Subordinated Note (effective yield 13.17%, maturity 07/18/2037) 11/01/24 11,340,000 4,408,916 3,715,288 0.41% Ares XLI CLO Ltd................ Income Note (effective yield 8.61%, maturity 04/15/2034)(10) 11/29/16 29,388,000 12,157,262 8,529,803 0.93% Ares XLI CLO Ltd................ Subordinated Note (effective yield 8.61%, maturity 04/15/2034) 09/05/24 750,000 237,179 208,683 0.02% Ares XLIII CLO Ltd............... Income Note (effective yield 12.11%, maturity 01/15/2038)(10) 04/04/17 43,860,000 16,342,367 13,611,273 1.49% Ares XLIV CLO Ltd............... Subordinated Note (effective yield 15.85%, maturity 04/15/2034) 10/06/21 16,376,572 4,635,152 3,685,309 0.40% Ares LI CLO Ltd................. Income Note (effective yield 13.81%, maturity 10/15/2037)(10) 01/25/19 18,981,463 10,035,447 8,638,583 0.94% Ares LXI CLO Ltd................ Subordinated Note (effective yield 10.60%, maturity 04/20/2037) 01/24/24 4,650,000 2,785,179 2,227,375 0.24% Ares LXIII CLO Ltd............... Subordinated Note (effective yield 16.67%, maturity 10/15/2038) 08/20/24 5,952,500 4,095,762 3,974,495 0.43% Ares LXIV CLO Ltd............... Subordinated Note (effective yield 14.56%, maturity 10/22/2039) 01/26/23 28,159,000 16,796,421 15,839,992 1.73% Ares LXVI CLO Ltd............... Subordinated Note (effective yield 20.67%, maturity 10/25/2038) 08/12/24 12,750,000 6,928,231 7,800,811 0.85% Ares LXIX CLO Ltd............... Income Note (effective yield 16.35%, maturity 04/15/2036)(10) 01/31/24 14,100,000 8,857,881 9,117,901 1.00% Ares LXXII CLO Ltd............... Income Note (effective yield 17.20%, maturity 07/15/2037)(10) 06/21/24 33,950,000 22,925,151 21,731,261 2.37% Ares LXXIV CLO Ltd.............. Subordinated Note (effective yield 15.15%, maturity 10/15/2037) 07/23/25 27,150,000 22,770,625 22,204,140 2.43% Ares LXXVI CLO Ltd.............. Income Note (effective yield 17.26%, maturity 05/27/2038)(10) 04/14/25 10,075,000 7,214,996 7,589,416 0.83% Bain Capital Credit CLO 2021-1, Limited...... Subordinated Note (effective yield 2.14%, maturity 04/18/2034) 04/29/21 9,100,000 5,931,485 3,965,100 0.43% Bardin Hill CLO 2021-2 Ltd............ Subordinated Note (effective yield 22.53%, maturity 10/25/2034)(10) 09/24/21 5,550,000 3,149,306 2,399,567 0.26% Barings CLO Ltd. 2018-I............. Income Note (effective yield 0.00%, maturity 04/15/2031)(10)(11) 02/23/18 20,808,000 5,139,239 3,072,392 0.34% Barings CLO Ltd. 2019-I............. Income Note (effective yield 5.49%, maturity 10/15/2038)(10) 02/12/19 21,223,000 10,313,208 8,592,719 0.94% Barings CLO Ltd. 2019-II............ Income Note (effective yield 8.69%, maturity 01/15/2038)(10) 03/15/19 14,700,500 10,854,022 8,016,471 0.88% Barings CLO Ltd. 2020-I............. Income Note (effective yield 26.34%, maturity 01/15/2038)(10) 09/04/20 6,966,000 3,313,403 4,103,447 0.45% Barings CLO Ltd. 2021-I............. Subordinated Note (effective yield 12.22%, maturity 04/25/2034) 06/05/24 20,000,000 10,731,603 8,746,987 0.96% Barings CLO Ltd. 2021-II............ Subordinated Note (effective yield 10.19%, maturity 07/15/2034) 09/07/22 9,250,000 5,410,060 4,244,345 0.46% Barings CLO Ltd. 2021-III............ Subordinated Note (effective yield 3.59%, maturity 01/18/2035) 11/17/21 2,000,000 1,189,965 714,021 0.08% Barings CLO Ltd. 2022-I............. Income Note (effective yield 7.21%, maturity 04/19/2035)(10) 03/18/22 7,500,000 4,605,497 2,921,560 0.32% Barings CLO Ltd. 2022-II............ Income Note (effective yield 33.45%, maturity 07/15/2039)(10) 06/21/22 10,800,000 3,648,595 4,805,547 0.52% See accompanying notes to the consolidated financial statements 3
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Issuer(1) Investment Description Acquisition Date(2) Principal Amount / Shares Cost Fair Value (3) %o f Net Assets Collateralized Loan Obligation Equity(4)(8)(9) (continued) Structured Finance (continued) United States (continued) Barings CLO Ltd. 2024-II........... Income Note (effective yield 17.80%, maturity 07/15/2039)(10) 05/31/24 $ 9,300,000 $ 5,831,188 $ 6,199,473 0.68% Barings CLO Ltd. 2025-IV........... Income Note (effective yield 16.87%, maturity 10/15/2040)(10) 08/07/25 10,575,000 7,362,419 7,533,579 0.82% Basswood Park CLO, Ltd............ Subordinated Note (effective yield 11.78%, maturity 04/20/2034) 08/17/21 27,750,000 17,262,201 14,354,269 1.57% Basswood Park CLO, Ltd............ Class M-1 Note (effective yield 1942.05%, maturity 04/20/2034) 02/15/24 5,000,000 3,360 8,288 0.00% Basswood Park CLO, Ltd............ Class M-2 Note (effective yield 1942.03%, maturity 04/20/2034) 02/15/24 5,000,000 7,840 19,336 0.00% Battalion CLO IX Ltd............. Income Note (effective yield 0.00%, maturity 07/15/2031)(10)(12) 07/09/15 18,734,935 4,814,079 612,488 0.07% Battalion CLO 18 Ltd. ............ Income Note (effective yield 21.75%, maturity 10/15/2036)(10) 08/25/20 8,400,000 3,819,711 2,422,827 0.26% Battalion CLO XIX Ltd............. Income Note (effective yield 8.49%, maturity 04/15/2034)(10) 03/11/21 8,600,000 3,688,676 1,824,785 0.20% Battalion CLO XXIII Ltd............ Income Note (effective yield 12.96%, maturity 10/15/2037)(10) 05/19/22 18,010,000 8,149,757 5,764,846 0.63% Bear Mountain Park CLO, Ltd.......... Income Note (effective yield 25.78%, maturity 07/15/2037)(10) 07/13/22 14,500,000 11,152,689 13,231,626 1.45% Belmont Park CLO, Ltd. ........... Income Note (effective yield 12.97%, maturity 04/15/2037)(10) 02/21/24 14,950,000 9,471,548 8,696,163 0.95% Benefit Street Partners CLO XII, Ltd....... Subordinated Note (effective yield 15.25%, maturity 10/15/2037) 12/12/24 11,341,132 9,394,854 9,135,588 1.00% Bethpage Park CLO, Ltd............ Income Note (effective yield 7.74%, maturity 10/15/2035)(10) 09/24/21 14,750,000 7,575,327 4,908,551 0.54% BlueMountain CLO 2013-2 Ltd. ........ Subordinated Note (effective yield 0.00%, maturity 10/22/2030)(12) 10/21/14 23,000,000 2,300 102,258 0.01% BlueMountain CLO 2018-1 Ltd. ........ Subordinated Note (effective yield 0.00%, maturity 07/30/2030)(12) 03/26/20 5,550,000 — 26,923 0.00% BlueMountain CLO XXIV Ltd. ........ Subordinated Note (effective yield 15.71%, maturity 04/20/2034) 06/16/20 7,375,000 3,570,376 2,321,921 0.25% BlueMountain CLO XXV Ltd.......... Subordinated Note (effective yield 14.88%, maturity 01/15/2038)(10) 06/23/20 6,525,000 3,691,170 2,599,437 0.28% Bowling Green Park CLO, LLC......... Subordinated Note (effective yield 16.82%, maturity 04/18/2035) 05/15/24 6,318,000 4,311,162 4,058,180 0.44% Bristol Park CLO, Ltd............. Income Note (effective yield 0.00%, maturity 04/15/2029)(10)(11) 11/01/16 34,250,000 3,419,196 1,370,812 0.15% Carlyle Global Market Strategies CLO 2014-5, Ltd. ................... Subordinated Note (effective yield 0.00%, maturity 07/15/2031)(11) 06/02/16 10,800,000 1,295,271 648,000 0.07% Carlyle US CLO 2018-1, Ltd........... Subordinated Note (effective yield 0.00%, maturity 04/20/2031)(11) 03/23/21 4,730,000 55,321 67,076 0.01% Carlyle US CLO 2018-4, Ltd........... Subordinated Note (effective yield 15.21%, maturity 10/17/2037)(10) 02/18/21 11,750,000 5,433,799 4,803,672 0.52% Carlyle US CLO 2019-4, Ltd........... Subordinated Note (effective yield 10.38%, maturity 04/15/2035)(10) 04/13/21 7,005,000 4,848,846 3,811,351 0.42% Carlyle US CLO 2021-1, Ltd........... Income Note (effective yield 14.40%, maturity 01/15/2040)(10) 02/02/21 14,175,000 6,996,536 6,105,338 0.67% Carlyle US CLO 2021-4, Ltd........... Subordinated Note (effective yield 8.29%, maturity 04/20/2034) 11/17/21 12,000,000 8,346,729 7,173,655 0.78% Carlyle US CLO 2021-7, Ltd........... Income Note (effective yield 14.51%, maturity 04/15/2040)(10) 08/11/21 13,200,000 7,505,119 6,860,856 0.75% Carlyle US CLO 2022-1, Ltd........... Income Note (effective yield 6.50%, maturity 04/15/2035)(10) 03/15/22 8,150,000 5,110,217 3,541,640 0.39% Carlyle US CLO 2022-5, Ltd........... Subordinated Note (effective yield 17.86%, maturity 10/15/2037) 05/02/25 11,375,000 6,946,492 6,908,102 0.75% Carlyle US CLO 2023-3, Ltd........... Income Note (effective yield 4.62%, maturity 10/15/2040)(10) 07/06/23 9,400,000 6,460,937 6,199,926 0.68% Carlyle US CLO 2024-1, Ltd........... Income Note (effective yield 8.11%, maturity 04/15/2037)(10) 01/26/24 11,475,000 8,463,550 7,240,122 0.79% CBAM 2019-9, Ltd. ............. Subordinated Note (effective yield 13.80%, maturity 07/15/2037) 11/01/24 18,390,000 6,421,521 7,867,188 0.86% CIFC Funding 2013-II, Ltd........... Income Note (effective yield 0.00%, maturity 10/18/2030)(10)(12) 06/06/14 17,265,625 1,505,931 172,311 0.02% CIFC Funding 2014, Ltd............ Income Note (effective yield 0.00%, maturity 01/18/2031)(10)(12) 06/06/14 16,033,750 2,140,901 168,680 0.02% CIFC Funding 2014-III, Ltd........... Income Note (effective yield 18.46%, maturity 03/31/2038) 02/17/15 18,290,500 10,413,979 10,016,859 1.09% CIFC Funding 2014-IV-R, Ltd.......... Income Note (effective yield 14.07%, maturity 01/17/2035) 08/05/14 8,457,500 3,092,688 2,454,223 0.27% CIFC Funding 2015-III, Ltd........... Income Note (effective yield 0.00%, maturity 04/19/2029)(10)(11) 06/23/15 9,724,324 — 145,865 0.02% CIFC Funding 2019-III, Ltd........... Subordinated Note (effective yield 15.34%, maturity 01/16/2038) 04/18/19 3,216,500 2,331,395 2,380,288 0.26% CIFC Funding 2019-IV, Ltd........... Income Note (effective yield 16.73%, maturity 07/15/2038)(10) 06/07/19 17,648,000 10,929,569 10,771,045 1.18% CIFC Funding 2019-V, Ltd........... Income Note (effective yield 13.26%, maturity 10/15/2038) 08/13/25 21,020,000 13,136,389 12,608,128 1.38% CIFC Funding 2020-I, Ltd. .......... Income Note (effective yield 24.20%, maturity 07/15/2036)(10) 06/12/20 9,400,000 4,915,455 4,881,486 0.53% CIFC Funding 2020-II, Ltd........... Subordinated Note (effective yield 14.16%, maturity 10/20/2034) 02/07/23 5,500,000 3,433,588 3,091,266 0.34% CIFC Funding 2020-II, Ltd........... Income Note (effective yield 14.16%, maturity 10/20/2034) 11/05/24 1,800,000 1,146,809 1,013,058 0.11% CIFC Funding 2020-IV, Ltd........... Income Note (effective yield 16.90%, maturity 01/15/2040)(10) 12/11/20 9,625,000 6,529,369 7,004,419 0.77% CIFC Funding 2021-III, Ltd........... Income Note (effective yield 9.60%, maturity 10/15/2038)(10) 04/23/21 17,275,000 8,968,549 6,568,536 0.72% CIFC Funding 2021-VI, Ltd........... Income Note (effective yield 9.45%, maturity 10/15/2034)(10) 09/22/21 12,200,000 7,690,422 5,779,001 0.63% CIFC Funding 2022-I, Ltd. .......... Income Note (effective yield 12.45%, maturity 04/17/2035)(10) 01/27/22 12,950,000 8,942,131 7,518,507 0.82% CIFC Funding 2022-VI, Ltd........... Income Note (effective yield 20.32%, maturity 10/16/2038)(10) 08/01/22 10,700,000 7,594,637 8,097,005 0.88% CIFC Funding 2023-I, Ltd. .......... Income Note (effective yield 11.34%, maturity 10/15/2038)(10) 09/14/23 13,475,000 9,848,827 11,070,990 1.21% CIFC Funding 2023-II, Ltd........... Subordinated Note (effective yield 8.68%, maturity 01/21/2037) 05/16/24 5,500,000 3,751,802 3,421,953 0.37% CIFC Funding 2025-II, Ltd........... Income Note (effective yield 16.87%, maturity 04/15/2038)(10) 02/07/25 14,400,000 11,782,266 12,261,142 1.34% CIFC Funding 2025-V, Ltd........... Income Note (effective yield 13.66%, maturity 10/15/2038)(10) 07/30/25 13,775,000 11,223,100 11,179,697 1.22% Cutwater 2015-I, Ltd.............. Income Note (effective yield 0.00%, maturity 01/15/2029)(10)(11) 05/01/15 31,100,000 — 4,665 0.00% Danby Park CLO, Ltd............. Subordinated Note (effective yield 10.27%, maturity 10/21/2037) 10/31/24 5,150,000 4,732,461 3,782,762 0.41% Dewolf Park CLO, Ltd............. Income Note (effective yield 0.00%, maturity 10/15/2030)(10)(12) 08/10/17 940,000 273,232 227,108 0.02% Dryden 53 CLO, Ltd.............. Income Note (effective yield 0.00%, maturity 01/15/2031)(12) 11/28/17 7,684,999 1,065,697 372,638 0.04% Dryden 64 CLO, Ltd.............. Subordinated Note (effective yield 0.00%, maturity 04/18/2031)(12) 05/11/20 9,600,000 1,742,631 96,019 0.01% Dryden 68 CLO, Ltd.............. Income Note (effective yield 0.38%, maturity 07/15/2035)(10)(12) 05/30/19 14,080,000 7,514,191 4,436,384 0.48% See accompanying notes to the consolidated financial statements 4
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Issuer(1) Investment Description Acquisition Date(2) Principal Amount / Shares Cost Fair Value (3) %o f Net Assets Collateralized Loan Obligation Equity(4)(8)(9) (continued) Structured Finance (continued) United States (continued) Dryden 76 CLO, Ltd.............. Subordinated Note (effective yield 13.50%, maturity 10/15/2037)(10) 05/14/24 $ 1,856,000 $ 722,228 $ 802,167 0.09% Dryden 78 CLO Ltd.............. Subordinated Note (effective yield 11.93%, maturity 04/17/2037) 07/31/24 26,520,000 12,463,633 10,973,709 1.20% Dryden 85 CLO, Ltd.............. Income Note (effective yield 8.35%, maturity 07/15/2037)(10) 09/17/20 12,750,000 7,593,595 5,879,678 0.64% Dryden 90 CLO, Ltd.............. Subordinated Note (effective yield 5.74%, maturity 11/15/2038)(10) 04/09/24 56,619,000 17,478,149 18,521,424 2.02% Dryden 94 CLO, Ltd.............. Income Note (effective yield 6.48%, maturity 10/15/2037)(10) 04/28/22 19,425,000 10,962,918 7,815,850 0.85% Dryden 109 CLO, Ltd. ............ Subordinated Note (effective yield 18.60%, maturity 04/15/2038)(10) 02/15/23 48,500,000 23,881,904 24,071,446 2.63% Eaton Vance CLO 2015-1, Ltd.......... Subordinated Note (effective yield 0.00%, maturity 01/20/2030)(12) 06/05/20 6,372,500 615,557 60,673 0.01% Eaton Vance CLO 2020-1, Ltd.......... Subordinated Note (effective yield 15.67%, maturity 10/15/2037)(10) 08/08/23 7,975,000 4,604,200 3,952,815 0.43% Eaton Vance CLO 2020-2, Ltd.......... Subordinated Note (effective yield 13.93%, maturity 10/15/2037)(10) 09/16/22 13,700,000 8,201,416 6,687,929 0.73% Elmwood CLO 21 Ltd............. Subordinated Note (effective yield 3.00%, maturity 10/15/2038) 10/27/23 4,900,000 2,903,173 2,482,517 0.27% Flatiron CLO 17 Ltd.............. Subordinated Note (effective yield 0.00%, maturity 05/15/2030)(11) 05/16/24 3,000,000 — 1,500 0.00% Flatiron CLO 21 Ltd.............. Subordinated Note (effective yield 11.21%, maturity 10/19/2037) 12/10/24 28,145,000 20,130,640 15,728,137 1.72% Greywolf CLO IV, Ltd............. Subordinated Note (effective yield 0.88%, maturity 04/17/2034) 03/26/21 7,520,000 3,653,235 1,730,602 0.19% Generate CLO 2 Ltd.............. Subordinated Note (effective yield 12.29%, maturity 10/22/2037) 05/14/24 2,058,000 909,241 607,458 0.07% Generate CLO 4 Ltd.............. Subordinated Note (effective yield 10.11%, maturity 07/20/2037) 09/24/24 12,425,000 9,051,505 5,669,547 0.62% Generate CLO 17 Ltd. ............ Subordinated Note (effective yield 13.77%, maturity 10/22/2037) 01/30/25 4,000,000 3,104,221 2,467,853 0.27% HarbourView CLO VII-R, Ltd.......... Subordinated Note (effective yield 0.00%, maturity 07/18/2031)(12) 09/29/17 1,100,000 110 167 0.00% Invesco CLO 2022-2, Ltd............ Subordinated Note (effective yield 15.83%, maturity 07/20/2035) 08/14/24 16,450,000 9,148,729 7,931,471 0.87% Invesco CLO 2022-2, Ltd............ Class Y Note (effective yield 14.15%, maturity 07/20/2035) 08/14/24 1,280,000 164,285 230,244 0.03% Kings Park CLO, Ltd.............. Subordinated Note (effective yield 19.53%, maturity 01/21/2035) 04/27/23 5,222,500 2,690,507 2,379,473 0.26% KKR CLO 36 Ltd............... Subordinated Note (effective yield 2.39%, maturity 10/15/2034) 05/03/22 7,500,000 4,496,307 2,308,477 0.25% Lake George Park CLO, Ltd........... Income Note (effective yield 17.91%, maturity 04/15/2038)(10) 02/18/25 22,650,000 18,558,413 20,377,090 2.23% Lake Shore MM CLO I Ltd........... Income Note (effective yield 0.00%, maturity 04/15/2033)(10)(12) 03/08/19 14,550,000 9,396,393 2,925,016 0.32% LCM 38 Ltd. ................ Income Note (effective yield 13.67%, maturity 11/04/2038) 01/31/24 5,228,500 4,020,550 3,027,497 0.33% Lodi Park CLO, Ltd.............. Subordinated Note (effective yield 12.40%, maturity 07/21/2036) 11/13/24 2,775,000 2,281,558 1,976,459 0.22% Lodi Park CLO, Ltd.............. Income Note (effective yield 12.40%, maturity 07/21/2036) 11/13/24 4,725,000 3,910,712 3,366,100 0.37% Madison Park Funding XX, Ltd......... Subordinated Note (effective yield 17.14%, maturity 10/27/2037) 02/06/25 35,450,000 8,617,704 7,555,956 0.83% Madison Park Funding XXI, Ltd......... Subordinated Note (effective yield 5.30%, maturity 10/15/2032)(11) 08/22/16 6,462,500 2,237,426 1,518,300 0.17% Madison Park Funding XXII, Ltd........ Subordinated Note (effective yield 17.20%, maturity 01/15/2038) 10/30/18 11,731,082 5,899,172 5,619,304 0.61% Madison Park Funding XXXIV, Ltd....... Subordinated Note (effective yield 16.80%, maturity 10/16/2037) 09/27/22 12,825,000 6,419,814 5,866,266 0.64% Madison Park Funding XL, Ltd......... Subordinated Note (effective yield 0.00%, maturity 02/28/2047)(12) 06/02/16 17,857,979 3,347,665 3,107,288 0.34% Madison Park Funding XL-R, Ltd........ Income Note (effective yield 14.03%, maturity 10/16/2038) 09/05/25 25,000,000 23,749,999 23,715,797 2.59% Madison Park Funding XLIV, Ltd........ Subordinated Note (effective yield 15.87%, maturity 07/16/2037) 11/16/18 9,919,821 4,428,100 3,810,580 0.42% Madison Park Funding XLVII, Ltd........ Subordinated Note (effective yield 14.39%, maturity 04/19/2037) 04/29/21 5,000,000 3,180,949 2,804,379 0.31% Madison Park Funding LII, Ltd......... Subordinated Note (effective yield 12.10%, maturity 01/22/2035) 03/13/24 6,500,000 3,865,908 3,040,603 0.33% Madison Park Funding LXII, Ltd........ Subordinated Note (effective yield 14.94%, maturity 07/16/2038) 07/27/23 13,025,000 8,092,616 7,671,464 0.84% Madison Park Funding LXIX, Ltd........ Subordinated Note (effective yield 15.17%, maturity 07/25/2037) 05/22/25 8,050,000 6,115,524 5,991,230 0.65% Marathon CLO VIII Ltd............ Income Note (effective yield 0.00%, maturity 10/18/2031)(11) 06/16/15 16,333,000 — 8,167 0.00% Marathon CLO X Ltd............. Subordinated Note (effective yield 0.00%, maturity 11/15/2029)(11) 08/09/17 2,550,000 — 5,814 0.00% Marathon CLO XI Ltd............. Subordinated Note (effective yield 0.00%, maturity 04/20/2031)(11) 02/06/18 2,075,000 45,650 311 0.00% Marathon CLO XII Ltd. ........... Subordinated Note (effective yield 0.00%, maturity 04/18/2031)(11) 09/06/18 4,500,000 125,089 11,790 0.00% Meacham Park CLO, Ltd............ Subordinated Note (effective yield 14.07%, maturity 10/20/2037) 01/24/25 9,950,000 7,083,962 6,245,561 0.68% Morgan Stanley Eaton Vance CLO 2023-19, Ltd. ................... Subordinated Note (effective yield 23.17%, maturity 07/15/2038) 02/21/24 4,150,000 2,141,188 2,355,349 0.26% Morgan Stanley Eaton Vance CLO 2023-20, Ltd. ................... Subordinated Note (effective yield 8.20%, maturity 01/20/2037) 05/08/24 6,050,000 4,378,641 3,463,374 0.38% Muzinich & Co., Inc..............C L O P articipation Share 10/28/21 — — 2,642,425 0.29% OCP CLO 2019-17, Ltd.............P r eferred Share (effective yield 10.62%, maturity 07/20/2037) 09/03/24 26,750,000 15,497,595 12,815,339 1.40% OCP CLO 2021-22, Ltd............. Subordinated Note (effective yield 11.17%, maturity 10/20/2037) 05/08/24 6,855,000 4,663,327 3,787,246 0.41% OCP CLO 2022-24, Ltd............. Subordinated Note (effective yield 10.95%, maturity 10/20/2037) 10/29/24 3,500,000 2,483,766 2,152,692 0.24% OCP CLO 2023-26, Ltd............. Subordinated Note (effective yield 20.96%, maturity 04/17/2037) 08/12/24 3,000,000 2,081,701 2,367,334 0.26% OCP CLO 2023-30, Ltd............. Subordinated Note (effective yield 5.51%, maturity 01/24/2037) 05/10/24 8,350,000 6,313,295 5,687,646 0.62% OCP CLO 2024-36, Ltd............. Subordinated Note (effective yield 13.56%, maturity 10/16/2037) 05/15/25 3,200,000 2,521,975 2,349,929 0.26% Octagon Investment Partners XIV, Ltd...... Income Note (effective yield 0.00%, maturity 07/15/2029)(10)(11) 06/06/14 20,572,125 — 3,086 0.00% Octagon Investment Partners 26, Ltd....... Income Note (effective yield 0.00%, maturity 07/15/2030)(10)(12) 03/23/16 13,750,000 1,627,897 112,530 0.01% Octagon Investment Partners 27, Ltd....... Income Note (effective yield 0.00%, maturity 07/15/2030)(10)(12) 05/25/16 11,804,048 19,701 106,793 0.01% Octagon Investment Partners 29, Ltd....... Subordinated Note (effective yield 5.94%, maturity 07/18/2037)(10) 05/05/21 23,400,000 8,376,621 5,348,692 0.58% Octagon Investment Partners 37, Ltd....... Subordinated Note (effective yield 0.00%, maturity 07/25/2030)(11) 05/25/21 1,550,000 414,062 7,750 0.00% Octagon Investment Partners 44, Ltd....... Income Note (effective yield 0.00%, maturity 10/15/2034)(10)(12) 06/19/19 13,500,000 6,628,028 1,955,887 0.21% Octagon Investment Partners 45, Ltd....... Subordinated Note (effective yield 5.79%, maturity 04/15/2035) 07/27/23 18,155,000 8,850,888 4,967,435 0.54% See accompanying notes to the consolidated financial statements 5
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Issuer(1) Investment Description Acquisition Date(2) Principal Amount / Shares Cost Fair Value (3) %o f Net Assets Collateralized Loan Obligation Equity(4)(8)(9) (continued) Structured Finance (continued) United States (continued) Octagon Investment Partners 46, Ltd....... Income Note (effective yield 6.47%, maturity 07/15/2036)(10) 06/26/20 $10,650,000 $ 3,641,458 $ 1,216,576 0.13% Octagon Investment Partners 48, Ltd....... Subordinated Note (effective yield 10.77%, maturity 01/15/2039)(10) 03/25/22 13,875,000 8,348,097 6,455,333 0.71% Octagon Investment Partners 50, Ltd....... Income Note (effective yield 6.91%, maturity 01/15/2035)(10) 10/06/20 9,250,000 4,078,702 1,953,974 0.21% Octagon 51, Ltd. .............. Income B Note (effective yield 14.38%, maturity 07/20/2034) 04/16/21 19,300,000 11,510,961 7,898,937 0.86% Octagon 55, Ltd. .............. Subordinated Note (effective yield 12.43%, maturity 03/20/2038) 02/11/22 14,052,000 7,201,448 5,252,945 0.57% Octagon 58, Ltd. .............. Income Note (effective yield 11.76%, maturity 04/15/2038)(10) 04/21/22 15,625,000 15,234,561 12,568,833 1.37% OFSI BSL VIII, Ltd.............. Income Note (effective yield 0.00%, maturity 08/16/2029)(10)(11) 07/18/17 7,719,320 615,335 270,564 0.03% Park Blue CLO 2022-II, Ltd.......... Subordinated Note (effective yield 13.38%, maturity 07/20/2037) 12/10/24 36,000,000 20,482,635 17,094,612 1.87% RAD CLO 3, Ltd............... Subordinated Note (effective yield 22.20%, maturity 07/15/2037)(10) 09/30/25 8,350,000 4,030,334 4,228,187 0.46% RAD CLO 27, Ltd.............. Subordinated Note (effective yield 14.69%, maturity 01/15/2038) 12/11/24 10,800,000 9,878,555 9,061,585 0.99% Regatta VII Funding Ltd............ Subordinated Note (effective yield 0.00%, maturity 06/20/2034)(12) 10/01/21 6,450,000 2,121,618 1,287,420 0.14% Regatta VII Funding Ltd............ Class R1A Note (effective yield 62.18%, maturity 06/20/2034) 10/01/21 10,126,500 14,184 7,021 0.00% Regatta VII Funding Ltd............ Class R2 Note (effective yield 109.75%, maturity 06/20/2034) 10/01/21 10,126,500 93,921 62,924 0.01% Regatta XII Funding Ltd. .......... Subordinated Note (effective yield 11.89%, maturity 10/15/2037) 12/12/24 20,575,000 11,252,824 8,702,080 0.95% Regatta XII Funding Ltd. .......... Class R1A Note (effective yield 37.38%, maturity 10/15/2037) 12/12/24 14,629,350 34,844 46,009 0.01% Regatta XII Funding Ltd. .......... Class R2 Note (effective yield 37.38%, maturity 10/15/2037) 12/12/24 14,629,350 313,592 414,005 0.05% Regatta XVII Funding Ltd........... Subordinated Note (effective yield 13.71%, maturity 10/15/2037) 11/19/24 14,100,000 9,991,613 8,747,134 0.96% Regatta XX Funding Ltd. .......... Income Note (effective yield 17.17%, maturity 01/15/2038)(10) 08/04/21 11,000,000 6,741,261 6,619,672 0.72% Regatta XX Funding Ltd........... Subordinated Note (effective yield 17.17%, maturity 01/15/2038) 03/04/25 250,000 136,113 137,965 0.02% Regatta XXI Funding Ltd........... Subordinated Note (effective yield 14.48%, maturity 10/15/2037) 06/10/22 9,000,000 5,535,978 4,731,489 0.52% Regatta XXII Funding Ltd........... Subordinated Note (effective yield 21.00%, maturity 07/20/2035) 06/20/23 3,937,500 2,470,643 2,695,450 0.29% Regatta XXIV Funding Ltd. ......... Subordinated Note (effective yield 17.65%, maturity 01/20/2038) 12/27/24 5,800,000 3,200,820 3,199,800 0.35% Rockford Tower CLO 2019-1, Ltd........ Subordinated Note (effective yield 6.11%, maturity 04/20/2034) 06/14/21 10,300,000 5,687,048 3,171,135 0.35% Rockford Tower CLO 2021-3, Ltd........ Subordinated Note (effective yield 7.88%, maturity 01/15/2038)(10) 04/22/22 46,111,625 23,662,030 14,275,765 1.56% Rockford Tower CLO 2022-3, Ltd........ Subordinated Note (effective yield 36.59%, maturity 07/20/2037)(10) 07/27/23 3,600,000 1,528,254 2,256,169 0.25% Rockford Tower CLO 2023-1, Ltd........ Subordinated Note (effective yield 9.52%, maturity 03/15/2038) 05/21/24 7,280,000 5,796,232 5,993,297 0.65% Rockford Tower 2024-2 Ltd.......... Subordinated Note (effective yield 18.30%, maturity 10/20/2037) 02/14/25 11,050,000 8,504,158 8,111,632 0.89% RR 23 Ltd.................. Subordinated Note (effective yield 15.03%, maturity 07/15/2037) 10/12/23 6,800,000 3,808,180 3,845,106 0.42% RR 25 Ltd.................. Subordinated Note (effective yield 8.13%, maturity 10/15/2037) 08/13/24 15,636,000 10,833,058 9,480,296 1.04% Shackleton 2019-XIV CLO, Ltd......... Subordinated Note (effective yield 19.10%, maturity 07/20/2034) 02/01/24 5,525,000 3,685,110 3,353,141 0.37% Signal Peak CLO 8, Ltd............ Subordinated Note (effective yield 14.41%, maturity 10/20/2037) 12/12/24 42,126,000 23,725,944 18,913,411 2.07% Steele Creek CLO 2018-1, Ltd.......... Income Note (effective yield 0.00%, maturity 04/15/2031)(10)(12) 03/28/18 11,370,000 3,380,844 85,537 0.01% Steele Creek CLO 2019-1, Ltd.......... Income Note (effective yield 0.00%, maturity 04/15/2032)(10)(12) 03/22/19 8,500,000 3,689,748 806,473 0.09% Thompson Park CLO, Ltd........... Subordinated Note (effective yield 17.63%, maturity 04/15/2034) 07/25/24 34,025,000 23,484,671 21,685,281 2.37% Unity-Peace Park CLO, Ltd. ......... Subordinated Note (effective yield 10.65%, maturity 04/20/2035) 09/07/23 34,020,000 22,319,292 15,912,469 1.74% Wehle Park CLO, Ltd............. Subordinated Note (effective yield 14.21%, maturity 10/21/2038) 07/01/24 4,588,000 2,907,034 2,410,298 0.26% Wehle Park CLO, Ltd............. Class M-2 Note (effective yield 101.81%, maturity 10/21/2038) 07/01/24 4,000,000 35,301 43,726 0.00% Wellman Park CLO, Ltd............ Subordinated Note (effective yield 16.14%, maturity 07/15/2037) 09/20/23 20,025,000 12,200,905 10,532,879 1.15% Wellman Park CLO, Ltd............ Class M-1 Note (effective yield 18.38%, maturity 07/15/2037) 09/20/23 20,025,000 162,648 199,585 0.02% Wellman Park CLO, Ltd............ Class M-2 Note (effective yield 23.96%, maturity 07/15/2037) 09/20/23 24,205,000 544,704 554,370 0.06% Whetstone Park CLO, Ltd........... Subordinated Note (effective yield 9.93%, maturity 01/20/2035) 05/03/22 10,560,000 6,843,023 4,612,422 0.50% Wind River 2013-2 CLO Ltd.......... Income Note (effective yield 0.00%, maturity 10/18/2030)(10)(12) 06/06/14 11,597,500 2,841,731 185,324 0.02% Wind River 2014-1 CLO Ltd.......... Subordinated Note (effective yield 0.00%, maturity 07/18/2031)(12) 05/05/16 9,681,764 968 1,481 0.00% Wind River 2014-3 CLO Ltd.......... Subordinated Note (effective yield 0.00%, maturity 10/22/2031)(12) 12/17/14 11,000,000 1,100 1,683 0.00% Wind River 2017-1 CLO Ltd.......... Income Note (effective yield 0.00%, maturity 04/18/2036)(10)(12) 02/02/17 17,700,000 8,246,982 4,484,096 0.49% Wind River 2017-3 CLO Ltd.......... Income Note (effective yield 0.00%, maturity 04/15/2035)(10)(12) 08/09/17 23,940,000 11,596,835 5,683,920 0.62% Wind River 2018-1 CLO Ltd.......... Income Note (effective yield 0.00%, maturity 07/15/2030)(10)(12) 06/22/18 15,750,000 6,296,034 3,636,843 0.40% Wind River 2019-2 CLO Ltd.......... Income Note (effective yield 0.00%, maturity 01/15/2035)(10)(12) 09/20/19 13,470,000 7,167,322 3,668,561 0.40% Wind River 2022-2 CLO Ltd.......... Income Note (effective yield 0.71%, maturity 07/20/2035)(10) 06/03/22 8,950,000 5,075,848 2,556,778 0.28% Zais CLO 3, Limited............. Income Note (effective yield 0.00%, maturity 07/15/2031)(10)(12) 04/08/15 16,871,644 — 33,715 0.00% Zais CLO 5, Limited............. Subordinated Note (effective yield 0.00%, maturity 10/15/2028)(12) 09/23/16 5,950,000 595 893 0.00% Zais CLO 7, Limited............. Income Note (effective yield 0.00%, maturity 04/15/2030)(12) 09/11/17 12,777,500 1,278 1,917 0.00% Zais CLO 9, Limited............. Subordinated Note (effective yield 0.00%, maturity 07/20/2031)(11) 10/29/18 3,015,000 11,759 2,291 0.00% Total United States .............. 1,253,850,061 1,051,203,312 114.88% European Union – Various Aqueduct European CLO 5-2020 DAC..... Class M-1 Note (effective yield 8.20%, maturity 04/20/2034)(10)(13) 12/27/24 13,158,000 9,705,858 9,225,084 1.01% Aqueduct European CLO 5-2020 DAC..... Class M-2 Note (effective yield 8.20%, maturity 04/20/2034)(13) 12/27/24 13,304,000 9,247,263 9,075,447 0.99% See accompanying notes to the consolidated financial statements 6
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Issuer(1) Investment Description Acquisition Date(2) Principal Amount / Shares Cost Fair Value (3) %o f Net Assets Collateralized Loan Obligation Equity(4)(8)(9) (continued) Structured Finance (continued) European Union – Various (continued) Aurium CLO XIII DAC........... Subordinated Note (effective yield 18.26%, maturity 04/15/2038)(13) 01/30/25 $ 3,277,500 $ 3,241,128 $ 3,582,365 0.39% Avoca CLO XXXI DAC........... Subordinated Note (effective yield 11.30%, maturity 07/15/2038)(13) 02/12/25 2,830,000 2,427,135 2,612,440 0.29% BBAM European CLO II DAC........ Subordinated Note (effective yield 23.95%, maturity 10/15/2034)(10)(13) 11/05/21 1,000,000 961,873 944,314 0.10% Blackrock European CLO XV DAC...... Subordinated Note (effective yield 9.96%, maturity 01/28/2038)(13) 11/29/24 3,250,000 3,167,174 3,260,362 0.36% CIFC European Funding VI DAC....... Subordinated Note (effective yield 14.77%, maturity 10/15/2037)(13) 07/17/24 5,000,000 4,520,790 4,799,219 0.52% Clonkeen Park CLO DAC.......... Subordinated Note (effective yield 13.98%, maturity 10/15/2037)(10)(13) 08/16/24 33,291,000 25,018,580 25,063,670 2.74% CVC Cordatus Loan Fund XXXIII DAC.... Subordinated Note (effective yield 15.23%, maturity 03/24/2038)(13) 10/18/24 5,417,000 4,825,502 5,555,704 0.61% Dryden 88 Euro CLO 2020 DAC........ Subordinated Note (effective yield 14.00%, maturity 07/20/2034)(13) 04/23/21 600,000 439,215 379,276 0.04% Henley CLO XI DAC............ Subordinated Note (effective yield 16.06%, maturity 04/25/2039)(13) 02/10/25 1,500,000 1,545,900 1,785,416 0.20% OCP Euro CLO 2019-3 DAC......... Subordinated Note (effective yield 11.44%, maturity 04/20/2033)(13) 05/26/21 1,500,000 984,522 921,803 0.10% OCP Euro CLO 2022-6 DAC......... Subordinated Note (effective yield 18.54%, maturity 07/20/2036)(13) 04/23/24 1,125,000 916,277 1,199,232 0.13% OCP Euro CLO 2024-10 DAC......... Subordinated Note (effective yield 11.00%, maturity 10/20/2037)(13) 07/10/24 5,000,000 4,378,905 4,494,355 0.49% Sculptor European CLO XII DAC....... Subordinated Note (effective yield 17.55%, maturity 01/15/2038)(13) 11/27/24 7,050,000 5,858,115 6,563,201 0.72% Total European Union – Various......... 77,238,237 79,461,888 8.69% Total Collateralized Loan Obligation Equity...... 1,331,088,298 1,130,665,200 123.57% Loan Accumulation Facilities(4)(9)(14) Structured Finance United States Steamboat LIV Ltd.............. Loan Accumulation Facility 06/04/25 5,846,250 5,846,250 5,911,016 0.65% Steamboat LV Ltd. ............. Loan Accumulation Facility 06/16/25 7,072,000 7,072,000 7,075,300 0.77% Steamboat LVI Ltd.............. Loan Accumulation Facility 05/27/25 5,500,750 5,500,750 5,560,682 0.61% Steamboat LVII Ltd.............. Loan Accumulation Facility 04/22/25 6,094,000 6,094,000 6,099,143 0.67% Steamboat LVIII Ltd. ............ Loan Accumulation Facility 06/04/25 3,077,000 3,077,000 3,114,941 0.34% Steamboat LIX Ltd.............. Loan Accumulation Facility 06/23/25 9,936,250 9,936,250 9,973,456 1.09% Steamboat LX Ltd. ............. Loan Accumulation Facility 09/04/25 3,614,250 4,210,963 4,242,949 0.46% Total Loan Accumulation Facilities.......... 41,737,213 41,977,487 4.59% Asset Backed Securities Structured Finance Germany Fortuna Consumer Loan ABS 2024-2 D A C .................. Class G Note, 12.41% (1M EURIBOR + 10.50%, due 10/18/2034)(6)(13) 09/13/24 7,500,000 8,308,125 8,911,337 0.97% Spain Autonoria Spain 2022 FT........... Class G Note, 13.87% (1M EURIBOR + 12.00%, due 01/31/2040)(6)(9)(13) 09/14/22 1,123,634 1,121,218 1,336,767 0.15% United States Carmax Select Receivables Trust 2025-B..... Class R Note (effective yield 21.17%, maturity 09/15/2032)(8) 09/17/25 3,580 2,531,418 2,529,793 0.28% Carvana Auto Receivables Trust 2024-P2.... Class R Note (effective yield 10.63%, maturity 06/10/2031)(8) 06/04/24 23,083 6,669,418 6,281,808 0.69% Carvana Auto Receivables Trust 2024-P3.... Class R Note (effective yield 11.71%, maturity 09/10/2032)(8) 09/10/24 17,730 8,712,060 8,558,477 0.93% Carvana Auto Receivables Trust 2024-P4.... Class R Note (effective yield 9.60%, maturity 12/10/2032)(8) 12/10/24 15,578 7,033,441 6,872,017 0.75% Carvana Auto Receivables Trust 2025-N1.... Class EX5 Note (effective yield 10.28%, maturity 08/10/2032)(8) 02/11/25 12,500 3,869,689 3,973,533 0.43% Carvana Auto Receivables Trust 2025-P1.... Class R Note (effective yield 16.25%, maturity 03/10/2033)(8) 03/11/25 14,850 7,792,241 7,529,084 0.82% Carvana Auto Receivables Trust 2025-P3.... Class R Note (effective yield 16.92%, maturity 09/12/2033)(8) 09/16/25 16,180 11,395,412 11,399,477 1.25% Chase Auto Owner Trust 2024-4........ Class R1 Note (effective yield 8.57%, maturity 11/25/2031)(8) 07/25/24 5,000 1,530,024 1,424,995 0.16% Chase Auto Owner Trust 2025-1........ Class R1 Note (effective yield 13.50%, maturity 11/26/2032)(8) 07/24/25 25,000 4,325,000 4,481,042 0.49% GoodLeap Home Improvement Solutions Trust 2025-2 ............... Class R Subordinate Notes (effective yield 19.59%, maturity 06/20/2049)(8) 06/09/25 1,184,151 2,592,403 2,848,505 0.31% Mercury Financial Credit Card Master Trust Series 2024-VFN1 ............. Class B Note, 12.84% (1M SOFR + 8.50%, due 01/20/2028)(6)(9)(16) 09/20/24 8,133,658 8,133,658 8,122,986 0.89% PenFed Auto Receivables Owner Trust 2025-A . . Class R Note (effective yield 12.03%, maturity 10/17/2033)(8) 09/11/25 17,500 2,625,000 2,622,758 0.29% Total United States .............. 67,209,764 66,644,475 7.29% Total Asset Backed Securities............ 76,639,107 76,892,579 8.41% Collateralized Fund Obligation Equity(4)(8)(9) Structured Finance United States ALP CFO 2024, L.P.............. Subordinated Note (effective yield 38.50%, maturity 10/15/2036) 10/21/24 16,286,000 16,286,000 12,610,342 1.38% ALP CFO 2025, L.P.............. Subordinated Note (effective yield 39.04%, maturity 07/15/2037) 07/30/25 21,671,000 21,671,000 21,029,982 2.30% Coller Private Equity Backed Notes & Loans II-A L.P...............P r eferred Equity (effective yield 21.86%, maturity 04/30/2037)(16) 07/21/25 5,008,986 5,008,986 4,830,513 0.53% See accompanying notes to the consolidated financial statements 7
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Issuer(1) Investment Description Acquisition Date(2) Principal Amount / Shares Cost Fair Value (3) %o f Net Assets Collateralized Fund Obligation Equity(4)(8)(9) (continued) Structured Finance (continued) United States (continued) Glendower Capital Secondaries CFO, LLC.... Subordinated Loan (effective yield 44.85%, maturity 07/13/2038) 07/13/23 $ 2,203,689 $ 2,203,689 $ 2,204,556 0.24% StepStone Private Equity LP Secondary Opportunities Ltd. ............. Subordinated Note (effective yield 28.90%, maturity 12/28/2035)(16) 07/03/24 10,838,624 10,838,624 8,792,407 0.96% Total Collateralized Fund Obligation Equity....... 56,008,299 49,467,800 5.41% Common Stock Financial Services United States Delta Financial Holdings LLC......... Common Units(4)(9)(17)(18) 07/19/23 1 1,147 574 0.00% Delta Leasing SPV III, LLC.......... Common Equity(4)(9)(17)(18) 07/19/23 18 18 621,522 0.07% Lender MCS Holdings, Inc........... Common Stock(4)(9)(17) 08/12/22 589 — 5,301 0.00% Oxford Lane Capital Corp............ Common Stock 07/24/25 188,221 3,320,430 3,186,582 0.35% Senior Credit Corp 2022 LLC......... Common Stock(4)(16)(18) 01/30/23 2,950,684 2,950,684 3,110,021 0.34% Total Financial Services............. 6,272,279 6,924,000 0.76% Leisure United States All Day Holdings LLC............ Common Stock(4)(17) 08/19/22 560 — 8 0.00% Oil & Gas United States McDermott International Ltd ........ Common Stock(4)(17) 12/31/20 1,951 121,936 29,997 0.00% Total Common Stock ................ 6,394,215 6,954,005 0.76% Equipment Financing(4) Equipment Financing United States Applied Digital Corporation.......... Equipment Financing, 14.62% (due 04/08/2026)(15) 07/08/24 1,593,475 1,593,475 1,613,389 0.18% Applied Digital Corporation.......... Equipment Financing, 14.62% (due 04/08/2026)(15) 07/08/24 1,523,297 1,523,297 1,542,333 0.17% Total Equipment Financing.............. 3,116,772 3,155,722 0.35% Loans and Notes Consumer Products United States JP Intermediate B LLC............ First Lien Senior Secured Term Loan, 11.01% (3M SOFR + 5.76%, due 11/22/2027)(4)(6) 03/02/21 496,049 489,451 22,322 0.00% Financial Services United States B. Riley Financial, Inc............. Senior Unsecured Note (15) 08/14/25 17,991 421,261 428,186 0.05% BSD Capital Inc................ Senior Unsecured Note, 6.95% (3M SOFR + 2.66%, due 10/31/2027)(4)(6)(9) 01/16/25 10,726,000 9,295,104 9,701,667 1.06% Delta Leasing SPV III, LLC.......... Senior Secured Note, 13.00% (due 07/18/2030)(4)(7)(9)(15)(16)(18) 07/19/23 11,172,483 11,172,180 11,172,483 1.22% Horizon Technology Finance Corporation....C o n v ertible Senior Unsecured Note, 5.50% (due 09/04/2030)(4)(9)(15) 09/04/25 7,500,000 6,871,310 7,129,125 0.78% Senior Credit Corp 2022 LLC......... Senior Unsecured Note, 8.50% (due 12/05/2028)(4)(15)(16)(18) 01/30/23 6,884,929 6,884,929 6,884,929 0.75% Total Financial Services............. 34,644,784 35,316,390 3.86% Manufacturing United States Integrated Modular Data Centers, LLC..... Senior Secured Loan, 11.00% (due 10/19/2026)(4)(9)(15)(16) 09/22/25 1,097,605 1,097,605 1,097,605 0.12% Structured Finance United States Glendower Capital Secondaries CFO, LLC.... Collateralized Fund Obligation Debt, Senior Secured Loan, Class B, 11.50% (due 07/13/2038)(4)(9)(15) 07/13/23 2,111,133 2,090,022 2,172,449 0.24% Glendower Capital Secondaries CFO, LLC.... Collateralized Fund Obligation Debt, Senior Secured Loan, Class C, 14.50% (due 07/13/2038)(4)(9)(15) 07/13/23 966,685 957,018 1,000,407 0.11% Total Structured Finance ............ 3,047,040 3,172,856 0.35% Total Loans and Notes................ 39,278,880 39,609,173 4.33% Preferred Stock(4) Financial Services United States Delta Financial Holdings LLC.........P r eferred Units(9)(17)(18) 07/19/23 252 251,801 251,849 0.03% Rated Feeder Fund Equity(8)(9) Structured Finance United States CVC Structured Solutions 2, LLC........ Subordinated Loan (effective yield 28.30%, maturity 09/03/2040)(16) 09/02/25 1,344,159 1,344,159 1,336,797 0.15% See accompanying notes to the consolidated financial statements 8
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Issuer(1) Investment Description Acquisition Date(2) Principal Amount / Shares Cost Fair Value (3) %o f Net Assets Regulatory Capital Relief Securities(4)(9) Banking France AASFL 2022-1............... C r edit Linked Note – Class B, 14.39% (1M EURIBOR + 12.50%, due 12/27/2030)(6)(13) 11/22/22 $ 1,184,231 $ 1,219,699 $ 1,393,847 0.15% BNP Paribas ............... C r edit Linked Note, 11.77% (3M EURIBOR + 9.50%, due 10/12/2032)(6)(13) 09/22/23 538,394 573,201 640,750 0.07% PXL 2022-1 ................ J unior Credit Linked Note, 16.78% (3M EURIBOR + 12.875%, due 12/29/2029)(6)(13) 12/16/22 3,800,000 3,924,067 4,756,431 0.52% Total France................. 5,716,967 6,791,028 0.74% United States Ally Bank Auto Credit-Linked Notes Series 2024-A .............. C r edit Linked Note – Class G, 12.75% (due 05/17/2032)(15) 06/13/24 3,078,601 2,707,080 2,796,441 0.31% Ally Bank Auto Credit-Linked Notes Series 2024-B .............. C r edit Linked Note – Class G, 11.40% (due 09/15/2032)(15) 10/29/24 1,645,208 1,645,208 1,677,441 0.18% CRAFT 2022-1 .............. C r edit Linked Note, 16.33% (SOFR + 12.00%, due 04/21/2032)(6) 10/26/22 3,982,828 3,882,367 4,165,536 0.46% Huntington Bank Auto 2024-1........ C r edit Linked Note – Class E, 12.64% (CD 1M SOFR + 8.25%, due 05/20/2032)(6) 06/14/24 1,271,107 1,271,107 1,304,233 0.14% Huntington Bank Auto 2024-2........ C r edit Linked Note – Class G, 11.89% (CD 1M SOFR + 7.50%, due 10/20/2032)(6) 10/29/24 690,066 690,066 693,702 0.08% Huntington Bank Auto 2025-1........ C r edit Linked Note – Class E, 11.54% (CD 1M SOFR + 7.15%, due 03/21/2033)(6) 03/11/25 2,834,358 2,834,358 2,865,695 0.31% LOFT 2022-1 ............... Class C Note, 23.36% (CD 3M SOFR + 19.00%, due 02/28/2032)(6) 08/22/22 8,679,173 8,350,649 9,235,238 1.01% Manitoulin USD Ltd............. Guarantee Linked Note – Class F, 14.57% (CD 3M SOFR + 10.25%, due 11/10/2027)(6) 10/12/22 22,137 22,137 22,276 0.00% Santander Bank Auto Credit-Linked Notes Series 2024-B .............. C r edit Linked Note – Class G, 12.23% (due 01/18/2033)(15) 12/10/24 5,375,000 5,375,000 5,449,605 0.60% Standard Chartered 7............ Class B Note, 15.34% (CD 3M SOFR + 11.00%, due 04/25/2031)(6) 10/07/22 5,536,923 5,536,923 5,564,652 0.61% TRAFIN 2023-1 .............. C r edit Linked Note, 14.28% (CD 3M SOFR + 10.00%, due 06/01/2029)(6) 11/27/23 2,375,000 2,375,000 2,437,016 0.27% US Bank NA 2025-SUP1.......... C r edit Linked Note – Class R, 11.86% (CD 1M SOFR + 7.50%, due 02/25/2032)(6) 03/06/25 5,481,719 5,481,719 5,623,213 0.61% Total United States.............. 40,171,614 41,835,048 4.58% Total Regulatory Capital Relief Securities....... 45,888,581 48,626,076 5.32% Total investments, at fair value as of September 30, 2025.. $1,636,868,764 $1,434,085,798 156.76% Liabilities, at fair value(19) 6.6875% Unsecured Notes due 2028...... Unsecured Note $ (32,423,800)$ (32,423,800)$ (31,905,019) -3.49% 5.375% Unsecured Notes due 2029...... Unsecured Note (93,250,000) (93,250,000) (87,648,659) -9.57% 7.75% Unsecured Notes due 2030....... Unsecured Note (115,000,000) (115,000,000) (115,184,000)-12.58% 6.75% Unsecured Notes due 2031....... Unsecured Note (44,850,000) (44,850,000) (42,714,781) -4.67% 6.50% Series C Term Preferred Stock due 2031 .................. P r eferred Stock (54,313,825) (54,313,825) (57,464,027) -6.28% 8.00% Series F Term Preferred Stock due 2029 .................. P r eferred Stock (62,156,100) (62,164,825) (62,777,661) -6.86% Total liabilities, at fair value as of September 30, 2025... $ (402,002,450)$ (397,694,147)-43.45% Net assets above (below) investments and liabilities, at fair value .................... (120,937,501) Net assets as of September 30, 2025.......... $ 915,454,150 See accompanying notes to the consolidated financial statements 9
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Footnotes to the Consolidated Schedule of Investments: (1) Unless otherwise noted, the Company is not affiliated with, nor does it “control”(as such term is defined in the Investment Company Act of 1940 (the “1940 Act”)), any of the issuers listed. In general, under the 1940 Act, the Company would be presumed to “control”an issuer if it owned 25% or more of its voting securities. (2) Acquisition date represents the initial date of purchase or the date the investment was contributed to the Company at the time of the Company’s formation. (3) Fair value is determined by the Adviser in accordance with written valuation policies and procedures, subject to oversight by the Company’s Board of Directors, in accordance with Rule 2a-5 under the 1940 Act. (4) Securities exempt from registration under the Securities Act of 1933, and are deemed to be “restricted securities”. As of September 30, 2025, the aggregate fair value of these securities is $1,430.5 million, or 156.26% of the Company’s net assets. (5) Country represents the principal country of risk where the investment has exposure. (6) Variable rate investment. Interest rate shown reflects the rate in effect at the reporting date. Investment description includes the reference rateand spread. (7) As of September 30, 2025, the investment includes interest income capitalized as additional investment principal, referred to as “PIK”interest. The PIK interest rate represents the interest rate at payment date when PIK interest is received. See Note 2 “Summary of Significant Accounting Policies”for further discussion. (8) Collateralized loan obligation (“CLO”) equity, Collateralized Fund Obligations equity, Rated Feeder Equity and Asset Backed Security residual tranches are entitled to recurring distributions which are generally equal to the remaining cash flow of payments made by underlying assets less contractual payments to debt holders and fund expenses. The effective yield is estimated based on the current projection of the amount and timing of these recurring distributionsin addition to the estimated amount of terminal principal payment. The effective yield and investment cost may ultimately not be realized. As of September 30, 2025, the Company’s weighted average effective yield on its aggregate CLO equity positions, based on current amortized cost, was 12.29%. When excluding calledC L O s , the Company’s weighted average effective yield on its CLO equity positions was 12.41%. (9) Classified as Level III investment. See Note 3 “Investments”for further discussion. (10) Fair value includes the Company’s interest in fee rebates on CLO subordinated and income notes. (11) As of September 30, 2025, the investment has been called. Expected value of residual distributions, once received, is anticipated to be recognized asreturn of capital, pending any remaining amortized cost, and/or realized gain for any amounts received in excess of such amortized cost. (12) As of September 30, 2025 the effective yield has been estimated to be 0%. The aggregate projected amount of future recurring distributions and terminal principal payment is less than the amortized investment cost. Future recurring distributions, once received, will be recognized solely as return ofcapital until the aggregate projected amount of future recurring distributions and terminal principal payment exceeds the amortized investment cost. (13) Investment principal amount is denominated in EUR. (14) Loan accumulation facilities are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle. (15) Fixed rate investment. (16) This investment has an unfunded commitment as of September 30, 2025. See Note 10 “Commitments and Contingencies”for further discussion. (17) The following investment is not an income producing security. (18) The following is an affiliated investment as defined under the 1940 Act, which represents investments in which the Company owns 5% or more of the outstanding voting securities under common ownership or control. See Note 5 “Related Party Transactions”for further discussion. (19) The Company has accounted for its unsecured notes and mandatorily redeemable preferred stock utilizing the fair value option election under ASC Topic 825. Accordingly, the aforementioned notes and preferred stock are carried at their fair value. See Note 2 “Summary of Significant Accounting Policies”for further discussion. Reference Key: CD Compounded Daily DD Delayed Draw EUR Euro EURIBOR Euro London Interbank Offered Rate SOFR Secured Overnight Financing Rate USD United States Dollar See accompanying notes to the consolidated financial statements 10
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Schedule of Investments AsofSeptember30,2025 (expressedinU.S.dollars) (Unaudited) Forward Currency Contracts, at Fair Value(1) Currency Purchased Currency Sold Counterparty Acquisition Date Settlement Date Fair Value Unrealized appreciation on forward currency contracts EUR 5,262,506 USD 6,115,074 Barclays Bank PLC 8/4/2025 10/31/2025 $ 74,280 Unrealized depreciation on forward currency contracts USD 3,986,058.11 EUR 3,410,201 Barclays Bank PLC 9/2/2025 10/31/2025 $ (24,758) USD 106,593,910.84 EUR 91,625,943 Barclays Bank PLC 7/29/2025 10/31/2025 (1,169,468) Total unrealized depreciation on forward currency contracts $(1,194,226) (1) See Note 4 “Derivative Contracts”for further discussion relating to forward currency contracts held by the Company. See accompanying notes to the consolidated financial statements 11
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Statement of Operations FortheninemonthsendedSeptember30,2025 (expressedinU.S.dollars) (Unaudited) INVESTMENT INCOME Interest income(1) ........................................................ $ 144,710,677 Other income........................................................... 6,924,058 Dividend income(1) ....................................................... 1,146,404 Total Investment Income................................................. 152,781,139 EXPENSES Interest expense......................................................... 20,729,027 Incentive fee ........................................................... 19,416,127 Management fee ........................................................ 15,370,356 Professional fees......................................................... 1,848,202 Administration fees ...................................................... 1,276,259 Tax expense............................................................ 1,172,634 Directors’fees .......................................................... 298,125 Other expenses.......................................................... 1,409,140 Total Expenses........................................................ 61,519,870 NET INVESTMENT INCOME............................................... 91,261,269 NET REALIZED AND UNREALIZED GAIN (LOSS) Net realized gain (loss) on: Investments, foreign currency and cash equivalents............................... (16,438,256) Forward currency contracts............................................... (7,298,648) Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock................ (1,420) Net unrealized appreciation (depreciation) on: Investments, foreign currency and cash equivalents(1) ............................. (58,733,930) Forward currency contracts............................................... (5,225,697) Net change in unrealized (appreciation) depreciation on liabilities at fair value under the fair value option.......................................................... (14,452,662) NET REALIZED AND UNREALIZED GAIN (LOSS)............................. (102,150,613) NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS..... (10,889,344) DISTRIBUTIONS AND AMORTIZATION ON TEMPORARY EQUITY (NOTE 2) 7.00% Series AA Convertible Perpetual Preferred Stock............................. (7,874,057) 6.75% Series D Perpetual Preferred Stock....................................... (5,338,700) 7.00% Series AB Convertible Perpetual Preferred Stock............................. (384,004) TOTAL DISTRIBUTIONS AND AMORTIZATION ON TEMPORARY EQUITY.......... (13,596,761) NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS ATTRIBUTABLE TO COMMON STOCKHOLDERS............................ $ (24,486,105) (1) Interestincome,dividendincomeandnetunrealizedappreciation(depreciation)oninvestments,foreigncurrencyandcashequivalentsinclude balancesattributedtoaffiliatedinvestmentsof $1,435,256,$1,001,875and$307,314,respectively.SeeNote5“RelatedPartyTransactions”for further discussion. See accompanying notes to the consolidated financial statements 12
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Statement of Comprehensive Income FortheninemonthsendedSeptember30,2025 (expressedinU.S.dollars) (Unaudited) NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS ATTRIBUTABLE TO COMMON STOCKHOLDERS............................. $(24,486,105) OTHER COMPREHENSIVE INCOME (LOSS)(1) Change in unrealized (appreciation) depreciation on liabilities at fair value under the fair value option ................................................................ 6,790,731 NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS AND COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS...... $(17,695,374) (1) SeeNote2“Summaryof SignificantAccountingPolicies – Other Financial Assets and Financial Liabilities at Fair V alue”forfurtherdiscussion relating to other comprehensive income. See accompanying notes to the consolidated financial statements 13
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Statements of Operations (expressedinU.S.dollars) (Unaudited) For the nine months ended September 30, 2025 For the nine months ended September 30, 2024 INVESTMENT INCOME Interest income........................................... $ 144,710,677 $124,216,311 Other income............................................ 6,924,058 5,366,630 Dividend income ......................................... 1,146,404 637,560 Total Investment Income................................... 152,781,139 130,220,501 EXPENSES Interest expense .......................................... 20,729,027 13,159,231 Incentive fee ............................................ 19,416,127 18,798,372 Management fee.......................................... 15,370,356 12,529,193 Professional fees.......................................... 1,848,202 1,537,355 Administration fees........................................ 1,276,259 1,050,927 Tax expense............................................. 1,172,634 309,860 Directors’fees ........................................... 298,125 298,125 Other expenses........................................... 1,409,140 1,104,702 Commission expense ....................................... — 1,723,850 Total Expenses ......................................... 61,519,870 50,511,615 NET INVESTMENT INCOME................................. 91,261,269 79,708,886 REALIZED AND UNREALIZED GAIN (LOSS) Net realized gain (loss) on: Investments, foreign currency and cash equivalents................... (16,438,256) (16,090,738) Forward currency contracts................................. (7,298,648) (381) Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock...... (1,420) — Net unrealized appreciation (depreciation) on: Investments, foreign currency and cash equivalents(1) ................. (58,733,930) (18,137,199) Forward currency contracts................................. (5,225,697) (203,512) Net change in unrealized (appreciation) depreciation on liabilities at fair value under the fair value option.................................. (14,452,662) (5,767,420) NET REALIZED AND UNREALIZED GAIN (LOSS)................. (102,150,613) (40,199,250) NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS .......................................... (10,889,344) 39,509,636 DISTRIBUTIONS AND AMORTIZATION ON TEMPORARY EQUITY (NOTE 2) 7.00% Series AA Convertible Perpetual Preferred Stock................. (7,874,057) (535,554) 6.75% Series D Perpetual Preferred Stock.......................... (5,338,700) (3,976,142) 7.00% Series AB Convertible Perpetual Preferred Stock................. (384,004) (3,704) TOTAL DISTRIBUTIONS AND AMORTIZATION ON TEMPORARY EQUITY .............................................. (13,596,761) (4,515,400) NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS ATTRIBUTABLE TO COMMON STOCKHOLDERS...... $ (24,486,105) $ 34,994,236 Note: The above Consolidated Statements of Operations represents the nine months ended September 30, 2025 and September 30, 2024 and has been provided as supplemental information to the consolidated financial statements. See accompanying notes to the consolidated financial statements 14
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Statements of Operations (expressedinU.S.dollars) (Unaudited) For the three months ended September 30, 2025 For the six months ended June 30, 2025 For the nine months ended September 30, 2025 INVESTMENT INCOME Interest income .............................. $ 49,272,127 $ 95,438,550 $ 144,710,677 Other income ............................... 2,292,320 4,631,738 6,924,058 Dividend income ............................. 451,771 694,633 1,146,404 Total Investment Income....................... 52,016,218 100,764,921 152,781,139 EXPENSES Interest expense .............................. 6,909,746 13,819,281 20,729,027 Incentive fee ................................ 6,160,845 13,255,282 19,416,127 Management fee ............................. 5,365,932 10,004,424 15,370,356 Professional fees.............................. 478,786 1,369,416 1,848,202 Administration fees............................ 456,646 819,613 1,276,259 Directors’fees ............................... 99,375 198,750 298,125 Tax expense ................................ 1,122,609 50,025 1,172,634 Other expenses .............................. 543,214 865,926 1,409,140 Total Expenses............................. 21,137,153 40,382,717 61,519,870 NET INVESTMENT INCOME..................... 30,879,065 60,382,204 91,261,269 REALIZED AND UNREALIZED GAIN (LOSS) Net realized gain (loss) on: Investments, foreign currency and cash equivalents........ (10,169,815) (6,268,441) (16,438,256) Forward currency contracts ...................... (861,909) (6,436,739) (7,298,648) Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock............................. (1,420) — (1,420) Net unrealized appreciation (depreciation) on: Investments, foreign currency and cash equivalents(1) ....... 1,674,463 (60,408,393) (58,733,930) Forward currency contracts ...................... 1,905,767 (7,131,464) (5,225,697) Net change in unrealized (appreciation) depreciation on liabilities at fair value under the fair value option........ (1,669,808) (12,782,854) (14,452,662) NET REALIZED AND UNREALIZED GAIN (LOSS)..... (9,122,722) (93,027,891) (102,150,613) NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS............... 21,756,343 (32,645,687) (10,889,344) DISTRIBUTIONS AND AMORTIZATION ON TEMPORARY EQUITY (NOTE 2) 6.75% Series D Perpetual Preferred Stock.............. (1,779,567) (3,559,133) (5,338,700) 7.00% Series AA Convertible Perpetual Preferred Stock..... (4,266,414) (3,607,643) (7,874,057) 7.00% Series AB Convertible Perpetual Preferred Stock..... (189,705) (194,299) (384,004) TOTAL DISTRIBUTIONS AND AMORTIZATION ON TEMPORARY EQUITY........................ (6,235,686) (7,361,075) (13,596,761) NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS ATTRIBUTABLE TO COMMON STOCKHOLDERS ................... $ 15,520,657 $(40,006,762) $ (24,486,105) Note: The above Consolidated Statements of Operations represents the three months ended September 30, 2025, the six months ended June 30, 2052, and the nine months ended September 30, 2025 and has been provided as supplemental information to the consolidated financial statements. See accompanying notes to the consolidated financial statements 15
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Statements of Changes in Net Assets (expressedinU.S.dollars,exceptshareamounts) (Unaudited) For the nine months ended September 30, 2025 For the year ended December 31, 2024 NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS Net investment income ......................................... $ 91,261,269 $ 106,425,784 Net realized gain (loss) on: Investments, foreign currency and cash equivalents . . . . . ..................... (16,438,256) (30,173,036) Forward currency contracts....................................... (7,298,648) 336,488 Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock . ............. (1,420) — Net unrealized appreciation (depreciation) on: Investments, foreign currency and cash equivalents . . . . . ..................... (58,733,930) (2,025,059) Forward currency contracts....................................... (5,225,697) 5,479,647 Net unrealized (appreciation) depreciation on liabilities at fair value under the fair value option ................................................. (14,452,662) 5,447,384 Total net increase (decrease) in net assets resulting from operations . . . . . . ............. (10,889,344) 85,491,208 NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OTHER COMPREHENSIVE INCOME (LOSS) Net change in unrealized (appreciation) depreciation on liabilities at fair value under the fair value option .............................................. 6,790,731 (7,425,746) COMMON STOCK DISTRIBUTIONS Total earnings distributed........................................ (132,500,673) (174,564,856) Common stock distributions from tax return of capital . ...................... (22,091,175) (9,826,464) Total common stock distributions...................................... (154,591,848) (184,391,320) DISTRIBUTIONS AND AMORTIZATION ON TEMPORARY EQUITY 6.75% Series D Perpetual Preferred Stock............................... (5,338,700) (3,762,891) 7.00% Series AA Convertible Perpetual Preferred Stock....................... (7,874,057) (1,385,037) 7.00% Series AB Convertible Perpetual Preferred Stock . . . . . . . . . . . . . . . . ....... (384,004) (33,582) Total distributions and amortization on temporary equity . . . . . . . . . . . . . . . . . ........ (13,596,761) (5,181,510) CAPITAL SHARE TRANSACTIONS Issuance of shares of common stock pursuant to the Company’s “at the market”program, net of commissions and offering expenses................................ 132,638,287 318,688,885 Issuance of shares of common stock pursuant to the Company’s dividend reinvestment plan................................................... 18,190,471 21,342,675 Issuance of shares of common stock from 7.00% Series AA Convertible Perpetual Preferred Stock Conversion ........................................... 11,329 — Issuance of shares of common stock from 7.00% Series AB Convertible Perpetual Preferred Stock Conversion ........................................... 33,526 — Total increase in net assets from capital share transactions . . ...................... 150,873,613 340,031,560 TOTAL INCREASE (DECREASE) IN NET ASSETS . . . . . . . . .................. (21,413,609) 228,524,192 NET ASSETS AT BEGINNING OF PERIOD.............................. 936,867,759 708,343,567 NET ASSETS AT END OF PERIOD................................... $ 915,454,150 $ 936,867,759 CAPITAL SHARE ACTIVITY Shares of common stock issued pursuant to the Company’s “at the market”program . . . . . . . 16,561,538 32,584,457 Shares of common stock issued pursuant to the Company’s dividend reinvestment plan . . . . . 2,430,252 2,302,409 Shares of common stock issued from 7.00% Series AA Convertible Perpetual Preferred Stock Conversion............................................... 1,602 — Shares of common stock issued from 7.00% Series AB Convertible Perpetual Preferred Stock Conversion............................................... 4,543 — Total increase (decrease) in capital share activity.............................. 18,997,935 34,886,866 See accompanying notes to the consolidated financial statements 16
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Statement of Cash Flows FortheninemonthsendedendedSeptember30,2025 (expressedinU.S.dollars) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net increase (decrease) in net assets resulting from operations . . .......................................... $ (10,889,344) Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: Purchases of investments . . ............................................................. (511,231,366) Proceeds from sales of investments and repayments of principal(1) . . . . . .................................... 384,984,182 Proceeds from investments purchased under agreements to resell......................................... 3,789,735 Payment-in-kind interest ............................................................... (287,458) Net realized gain (loss) on: Investments, foreign currency and cash equivalents................................................ 16,516,095 Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock . . . . ................................ 1,420 Net unrealized appreciation (depreciation) on: Investments, foreign currency and cash equivalents................................................ 58,590,333 Forward currency contracts ............................................................ 5,225,697 Net change in unrealized appreciation (depreciation) on liabilities at fair value under the fair value option . .. . . . . . . . . . . . . . . . 14,452,662 Amortization (accretion) included in interest expense................................................ 11,540 Amortization (accretion) of premiums or discounts on debt securities . ..................................... (585,425) Changes in assets and liabilities: Interest receivable................................................................. (6,679,096) Other expenses payable.............................................................. (1,403,513) Interest payable.................................................................. (531,507) Professional fees payable............................................................. (387,276) Prepaid expenses ................................................................. (129,263) Administration fees payable........................................................... (126,333) Tax expense payable............................................................... (5,012) Due to affiliates.................................................................. 62,247 Directors’fees payable .............................................................. 99,375 Management fee payable............................................................. 322,870 Excise tax refund receivable........................................................... 842,230 Deferred tax liability............................................................... 1,097,596 Incentive fee payable............................................................... 1,386,236 Net cash provided by (used in) operating activities................................................... (44,873,375) CASH FLOWS FROM FINANCING ACTIVITIES Common stock distributions, net of reinvestment and change in common stock distribution payable . . . . . . . . . . . . . . . . . . . . . . . (136,355,279) Issuance of shares of common stock pursuant to the Company’s “at the market”program, net of commissions and offering expenses . . . . 132,638,287 Issuance of 6.75% Series D Perpetual Preferred Stock pursuant to the Company’s “at the market”program . . . . . . . . . . . . . . . . . . . 314,811 Issuance of 7.00% Series AA Convertible Perpetual Preferred Stock . . . . . . . .................................. 68,822,848 7.00% Series AA Convertible Perpetual Preferred Stock issued pursuant to the Company’s dividend reinvestment plan . . . . . . . . . . . . . 90,467 Issuance of shares of common stock from 7.00% Series AA Convertible Perpetual Preferred Stock Conversion . . . . . . . . . . . . . . . . . 11,329 Issuance of shares of common stock from 7.00% Series AB Convertible Perpetual Preferred Stock Conversion . . . . . . . . . . . . . . . . . 33,526 Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock . . ..................................... (30,088) Issuance of 7.00% Series AB Convertible Perpetual Preferred Stock......................................... 4,503,240 6.75% Series D Perpetual Preferred Stock distributions................................................ (5,338,700) 7.00% Series AA Convertible Perpetual Preferred Stock distributions ........................................ (4,143,000) 7.00% Series AB Convertible Perpetual Preferred Stock distributions . . . . . . . . . . . . . . . . . . ...................... (288,667) Net cash provided by (used in) financing activities.................................................... 60,258,774 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,385,399 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD . ........................... 42,224,792 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD . . ............................... $ 57,610,191 Supplemental disclosures: Cash paid for interest expense............................................................. $ 21,237,379 Cash paid for distributions on temporary equity.................................................. $ 9,782,380 Cash paid for franchise taxes............................................................. $ 80,050 (1) Proceeds from sales or maturity of investments includes $102,284,527 of return of capital on CLO equity investments from recurring cash flows and distributions from called deals. See accompanying notes to the consolidated financial statements 17
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) 1. ORGANIZATION Eagle Point Credit Company Inc. (the “Company”) is an externally managed, non-diversified closed-end managementinvestmentcompanyregisteredundertheInvestmentCompanyActof 1940,asamended(the“1940 Act”).TheCompanyhaselectedtobetreated,andtoqualify,asaregulatedinvestmentcompany(“RIC”)under SubchapterMof theInternalRevenueCodeof 1986,asamended(the“Code”),forfederalincometaxpurposes. The Company’s primary investment objective is to generate high current income, with a secondary objective to generatecapitalappreciation.TheCompanyseekstoachievetheseobjectivesbyinvestingprimarilyinequityand junior debt tranches of collateralized loan obligations (“CLOs”) that are collateralized by a portfolio consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowersacrossvariousindustrysectors.TheCompanymayalsoinvestinotherrelatedsecuritiesandinstruments or other securities and instruments that Eagle Point Credit Management LLC (the “Adviser”) believes are consistentwiththeCompany’sinvestmentobjectives,includingseniordebttranchesof CLOs,loanaccumulation facilities(“LAFs”)andsecuritiesandinstrumentsof corporateissuers.Fromtimetotime,inconnectionwiththe acquisition of CLO equity, the Company may receive fee rebates from the CLO issuer. The CLO securities in whichtheCompanyprimarilyinvestsareunratedorratedbelowinvestmentgradeandareconsideredspeculative with respect to timely payment of interest and repayment of principal. TheCompanywasinitiallyformedonMarch24,2014andcommencedoperationsonJune6,2014.OnOctober7, 2014, the Company priced its initial public offering (the “IPO”) and on October 8, 2014, the Company’s shares began trading on the New York Stock Exchange (the “NYSE”) under the symbol “ECC”. TheAdviserservesastheinvestmentadviserof theCompanyandmanagestheCompany’sinvestments,subjectto the supervision of the Company’s Board of Directors (the “Board”). The Adviser is registered as an investment adviser with the U.S. Securities and Exchange Commission (the “SEC”). Eagle Point Administration LLC, an affiliate of the Adviser, serves as the administrator of the Company (the “Administrator”). TheCompanyhasthreewholly-ownedsubsidiaries:EaglePointCreditCompanySub(Cayman)Ltd.(“SubI”),a Cayman Islands exempted company, Eagle Point Credit Company Sub II (Cayman) Ltd (“Sub II”), a Cayman Islandsexemptedcompany,andEaglePointCreditCompanySubII(US)LLC(“SubIIUS”),aDelawarelimited liability company. These subsidiaries have been organized to hold certain of the Fund’s investments for legal, regulatory and tax purposes. All intercompany accounts and transactions have been eliminated upon consolidation. As of September 30, 2025, Sub I, Sub II and Sub II US held 28%, 3% and 1% of the Company’s total assets, respectively. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting TheconsolidatedfinancialstatementshavebeenpreparedinconformitywithU.S.generallyacceptedaccounting principles (“U.S. GAAP”). The Company is an investment company and follows the accounting and reporting guidanceapplicabletoinvestmentcompaniesintheFinancialAccountingStandardsBoard(“FASB”)Accounting Standards Codification (“ASC”) Topic 946Financial Services — Investment Companies . Items included in the consolidated financial statements are measured and presented in U.S. dollars. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions, which affect the reported amounts included in the consolidated financial statements and accompanying notes as of the reporting date. The most significant estimate inherent in the preparation of the consolidated financial statements is the valuation of the Company’s investments. Actual results may differ from those estimates. 18
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Operating Segments The Company has a single reportable segment with investment objectives described in Note 1 “Organization”. Thechief operatingdecisionmaker(“CODM”)of theCompanyiscomprisedof theCompany’sChief Executive Officer and Chief Financial Officer. Key financial information used by the CODM to assess the Company’s performance and make operation decisions,includingtheCompany’sportfoliocomposition,totalreturn,changesinnetassetsandexpenseratios,is consistent with the presentation within the Company’s consolidated financial statements. Segment assets are reflectedas“TotalAssets”ontheaccompanyingConsolidatedStatementof AssetsandLiabilitiesandsignificant segment expenses are listed on the Consolidated Statement of Operations. Securities Transactions The Company records the purchase and sale of securities on the trade date. Realized gains and losses on investments sold are recorded based on the specific identification method. In certain circumstances where the Adviser determines it is unlikely to fully amortize a CLO equity or CLO debt investment’s remaining amortized cost, such remaining cost is written-down to current fair value and recognized as a realized loss in the Consolidated Statement of Operations. Foreign Currency Transaction TheCompanydoesnotisolatetheportionof itsresultsof operationsattributabletochangesinforeignexchange rates from those arising due to fluctuations in market prices of investments denominated in foreign currencies. Thesecombinedeffectsareincludedwiththenetchangeinunrealizedappreciation(depreciation)oninvestments, foreign currency, cash and cash equivalents. Reportednetrealizedforeignexchangegainsorlossesmayarisefromsalesof foreigncurrency,currencygainsor losses occurring between trade and settlement dates on investment transactions and differences between the recorded amounts of dividends and interest income and the U.S. dollar equivalent of the amounts actually received. Cash, Cash Equivalents and Restricted Cash The Company defines cash and cash equivalents as cash and short-term, highly liquid investments with original maturitiesof threemonthsorlessfromthedateof purchase.TheCompanymaintainsitscashinbankaccounts, which, at times, may exceed federal insured limits. The Adviser monitors the performance of the financial institutions where the accounts are held to manage associated risk. Cash equivalents are carried at cost, plus accrued interest, which approximates fair value. Cash equivalents are held for meeting short-term liquidity requirements, rather than for investment purposes. Cash equivalents are classifiedasLevelIinthefairvaluehierarchy.Asof September30,2025,theCompanyheldnocashequivalents. Restrictedcashrepresentsamountssubjecttolegalorcontractualrestrictionsimposedbythirdparties,including limitations on withdrawal or use. These restrictions may require the funds to be used for a specified purpose or limit the purpose for which the funds can be used. The Company considers cash collateral posted with counterpartiesinconnectionwithforeigncurrencycontractstoberestrictedcash.Asof September30,2025,the Company held $5.6 million in restricted cash associated with forward currency contracts. Forward Currency Contracts TheCompanymayenterintoforwardcurrencycontractstomanagetheCompany’sexposuretoforeigncurrencies in which some of the Company’s investments are denominated. A forward currency contract is an agreement 19
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) between the Company and a counterparty to buy and sell a currency at an agreed-upon exchange rate and on an agreed-upon future date. Forward currency contracts are recorded at fair value, with the change in fair value recognized as unrealized appreciation(depreciation)onforwardcurrencycontractsontheConsolidatedStatementof AssetsandLiabilities. Realized gains or losses from the settlement of forward currency contracts are reported on the Consolidated Statement of Operations. Cash amounts pledged as collateral in connection with forward currency contracts is considered restricted. Investments Purchased Under Agreements to Resell TheCompanyrecordsinvestmentspurchasedunderagreementstoresellattheircontractedresellamounts,which approximates fair value. Interest on these agreements is accrued and reported as interest receivable on the Consolidated Statement of Assets and Liabilities, and as interest income in the Consolidated Statement of Operations.InvestmentspurchasedunderagreementstoresellaregenerallycategorizedasLevelIIwithinthefair value hierarchy. Temporary Equity The Company’s “Perpetual Preferred Stock” (listed below) is accounted for in the Company’s Consolidated Statement of Assets and Liabilities as temporary equity in accordance with FASB ASC Topic 480-10-S99, Distinguishing Liabilities from Equity(“ASC480”),whichrequirespreferredstockthatiscontingentlyredeemable uponanoccurrenceof aneventoutsidetheCompany’scontroltobeclassifiedastemporaryequity.Thefollowing are current Perpetual Preferred Stock issuances of the Company: ▪ 6.75% Series D Perpetual Preferred Stock (the “Series D Perpetual Preferred Stock”) ▪ 7.00% Series AA Convertible Perpetual Preferred Stock (“Series AA Convertible Perpetual Preferred Stock”) ▪ 7.00%SeriesABConvertiblePerpetualPreferredStock(“SeriesABConvertiblePerpetualPreferredStock” and collectively with the Series AA Convertible Perpetual Preferred Stock, the “Convertible Perpetual Preferred Stock) The Perpetual Preferred Stock is recorded net of deferred issuance cost, which consists of fees and expenses incurred in connection with the issuance of the Perpetual Preferred Stock, and net of issuance premiums or discounts, if any. Deferred issuance cost is amortized into expense when it is probable the Perpetual Preferred Stock becomes redeemable in the future. Deferred issuance costs on the Convertible Perpetual Preferred Stock are amortized using the effective interest methodduetotheprobablelikelihoodof holderoptionalordeathrelatedredemptionsoccurring.TheConvertible Perpetual Preferred Stock is recorded net of unamortized deferred issuance costs. The Company is compliant with all contingent redemption provisions of the Series D Perpetual Preferred Stock as of September 30, 2025, therefore, no deferred issuance costs have been amortized. Distributionspaidandamortizationof deferredissuancecostsonthepreferredstocktreatedastemporaryequity areincludedintheConsolidatedStatementof Operationsasacomponentof netincrease(decrease)innetassets resulting from operations attributable to common stockholders. 20
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Thefollowingtablepresentsthedistributionsandamortizationof deferredissuancecostrelatedtothePerpetual Preferred Stock for the nine months ended September 30, 2025: Amounts in millions Series D Perpetual Preferred Stock Series AA Convertible Perpetual Preferred Stock Series AB Convertible Perpetual Preferred Stock Total Distributions (Including Accrued Distributions).... $5.3 4.2 $0.3 $ 9.8 Amortization of Deferred Issuance Costs........ — 3 . 7 0 . 1 3 . 8 Total Distributions (Including Accrued Distributions) and Amortization of Deferred Issuance Costs........................ $5.3 $7.9 $0.4 $13.6 See Note 7 “Preferred Stock”for further discussion relating to the Perpetual Preferred Stock issuances. Other Financial Assets and Financial Liabilities at Fair Value The Fair Value Option (“FVO”) under FASB ASC Subtopic 825-10,Fair V alue Option (“ASC 825”), allows companies to make an irrevocable election to measure certain financial assets and liabilities at fair value on the initial and subsequent accounting reporting dates. This election is made on an instrument-by-instrument basis and must be applied to an entire instrument. Assets and liabilities measured at fair value are reported separately from those instruments measured using another accounting method. Additionally, changes in fair value attributable to instrument-specific credit risk on financial liabilities for which the FVO is elected are presented separately in other comprehensive income. Upfront offering costs related to instruments for which the FVO is elected, including costs associated with issuances under the Company’s at-the-market (“ATM”) program, are recognized in earnings as incurred and are not deferred. The Company has elected to apply the FVO under ASC 825 to the following instruments: ▪ 6.6875% Unsecured Notes due 2028 (the “Series 2028 Notes”) ▪ 5.375% Unsecured Notes due 2029 (the “Series 2029 Notes”) ▪ 7.75% Unsecured Notes due 2030 (the “Series 2030 Notes”) ▪ 6.75% Unsecured Notes due 2031 (the “Series 2031 Notes” and collectively with the Series 2028 Notes, Series 2029 Notes and Series 2030 Notes, the “Unsecured Notes”) ▪ 6.50% Series C Term Preferred Stock due 2031 (the “Series C Term Preferred Stock”) ▪ 8.00% Series F Term Preferred Stock due 2029 (the “Series F Term Preferred Stock”and collectively with the Series C Term Preferred Stock, the “Term Preferred Stock”) TheprimaryreasonforelectingtheFVOistoreflecteconomiceventsinthesameperiodinwhichtheyoccurand to simplify financial reporting and presentation. Repurchase of Debt Securities TheCompanyrecordsanygainsresultingfromtherepurchaseof theCompany’sdebtatadiscountthroughopen market transactions or redemptions and subsequent retirement as a realized gain or loss in the Consolidated Statement of Operations. 21
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Revenue Recognition Interest Income from Investments Interestincomefromdebtsecuritiesisrecordedusingtheaccrualbasisof accountingtotheextentsuchamounts are expected to be collected. Premiums and discounts on debt securities are amortized or accreted, respectively, using the effective interest method and are included in interest income. The Company applies the provisions of Accounting Standards UpdateNo.2017-08 Premium Amortization on Purchased Callable Debt Securities(“ASU2017-08”)incalculating amortization of premium for applicable investments. In certain circumstances, all or a portion of interest income from a given investment may be paid in the form of additionalinvestmentprincipal,oftenreferredtoaspayment-in-kind(“PIK”)interest.PIKinterestisincludedin interest income and interest receivable through the PIK capitalization date. On the capitalization date, the PIK component of interest receivable is capitalized as additional principal of the investment, which is subject to fair value determination, and the PIK interest rate is applied to the entire principal balance of the applicable investment.TotheextenttheCompanydoesnotbelieveitwillultimatelybeabletocollectcapitalizedPIKinterest, the investment will be placed on non-accrual status, and previously recorded capitalized PIK interest will be reversed. Investment income from investments in the equity tranche securities of CLO, fee rebates, Collateralized Fund Obligations (“CFO”), rated feeder funds, and certain other investments is recognized using the effective interestmethod,inaccordancewithASCTopic325-40, Beneficial Interests in Securitized Financial Assets.Under theeffectiveinterestmethod,incomeisrecognizedbasedonaneffectiveyieldderivedfromcashflowsprojectedto theexpectedcalldate,andanydifferencebetweencashdistributedandincomeamountcalculatedpursuanttothe effectiveinterestmethodisrecordedasanadjustmenttothecostbasisof theinvestment.ItistheAdviser’spolicy to update the effective yield for each CLO equity and fee rebate position held within the Company’s portfolio at the initiation of each investment and each subsequent quarter thereafter. For CFO equity, rated feeder fund equity and certain other investments, the effective yield is reviewed at each measurement date and updated periodically based on the facts and circumstances known to the Adviser. The Company recognizes the interest income from LAFs in accordance with the guidance noted in ASC Topic 325-40-35-1,Beneficial Interest in Securitized Financial Assets , which states that the holder of a beneficial interest in securitized financial assets shall determine interest income over the life of the beneficial interest in accordance with the effective yield method, provided such amounts are expected to be collected. FASB ASC 325-40-20 further defines “beneficial interests,”among other things, as “rights to receive all or portions of specified cash inflows received by a trust or other entity.” FASB ASC 325-40-15-7 also states that for income recognition purposes, beneficial interests in securitized financial assets (such as those in LAFs) are within the scope of ASC 325-40 because it is customary for certain industries, such as investment companies, to report interestincomeasaseparateitemintheirincomestatementseventhoughtheinvestmentsareaccountedforatfair value. For the nine months ended September 30, 2025, the Company recorded $4.8 million in interest income from LAFs. Other Income OtherincomeincludestheCompany’sshareof incomeunderthetermsof feerebateagreementsandcommitment fee income relating to securities paying a commitment fee on unfunded commitments. Dividend Income DividendincomerepresentsdividendincomefromtheCompany’sinvestmentsincommonstockandisrecorded on the ex-dividend date. 22
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Expenses, Offering Cost and Deferred Financing and Issuance Costs Expense Recognition Expenses are recorded on the accrual basis of accounting. Offering Expenses Offering expenses associated with the issuance of shares of the Company’s common stock, inclusive of expenses incurred associated with offerings under the ATM program, are charged to paid-in-capital at the time the shares aresoldinaccordancewithguidancenotedinFASBASCTopic946-20-25-5, Investment Companies — Investment Company Activities — Recognition. Interest Expense Interest expense includes the distributions paid on the Company’s Term Preferred Stock and interest paid on the Company’sUnsecuredNotes.Interestexpensealsoincludestheamortizationof issuancepremiumsanddiscounts associated with the issuance of the Term Preferred Stock. The following table summarizes the components of interest expense for the nine months ended September 30, 2025: Amounts in millions Series C Term Preferred Stock Series F Term Preferred Stock Series 2028 Notes Series 2029 Notes Series 2030 Notes Series 2031 Notes Total Interest Expense............. $2.6 $ 3.7 $1.6 $3.8 $6.7 $2.3 $20.7 Amortization of Issuance (Premium) Discount........ — 0.00 ———— 0 . 0 Total Interest Expense . . ....... $2.6 $ 3.7 $1.6 $3.8 $6.7 $2.3 $20.7 SeeNote7“PreferredStock”andNote8“UnsecuredNotes”forfurtherdiscussionrelatingtotheTermPreferred Stock and Unsecured Notes, respectively. Issuance Premiums/Discounts Issuancepremiumsanddiscountsonliabilitiesconsistof premiumsreceivedordiscountsprovidedinconnection withtheissuanceof theTermPreferredStockaspartof theCompany’sATMprogram.InaccordancewithFASB ASCTopic835-30-35-2,theissuancepremiumsanddiscountsarecapitalizedatthetimeof issuanceandamortized usingtheeffectiveinterestmethodoverthetermof theTermPreferredStock.Amortizationof issuancepremiums or discounts are reflected in interest expense in the Consolidated Statement of Operations. Prepaid Expenses Prepaid expenses generally consist of insurance premiums, filing fees, shelf registration expenses and ATM program expenses. Prepaid shelf registration expenses and ATM program expenses represent fees and expenses incurredinconnectionwiththeinitialregistrationof theCompany’scurrentshelf registrationandATMprogram. Such costs are allocated pro-rata based on the amount issued relative to the total respective offering amount to paid-in-capital or expense depending on the security being issued pursuant to the shelf registration and ATM program. Subsequent costs incurred to maintain the Company’s ATM program are expensed as incurred. Any unallocated prepaid expense balance associated with the shelf registration and the ATM program is accelerated into expense at the earlier of the end of the program period or at the effective date of a new shelf registration or ATM program. Federal and Other Taxes The Company intends to operate so as to qualify to be taxed as a RIC under the Code and, as such, to not be subjecttofederalincometaxontheportionof itstaxableincomeandgainsdistributedtostockholders.Toqualify 23
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) for RIC tax treatment, among other requirements, the Company is required to distribute at least 90% of its investment company taxable income, as defined by the Code. The Company has adopted November 30th as its fiscal tax year end. Because U.S. federal income tax regulations differ from U.S. GAAP, distributions in accordance with tax regulationsmaydifferfromnetinvestmentincomeandrealizedgainsrecognizedforfinancialreportingpurposes. Thesedifferencesmaybepermanentortemporary.Permanentdifferencesarereclassifiedamongcapitalaccounts in the consolidated financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized at some time in the future. Differences in classification may alsoresultfromthetreatmentof short-termcapitalgainsasordinaryincomeforfederalincometaxpurposes.The tax basis components of distributable earnings may differ from the amounts reflected in the Consolidated Statement of Assets and Liabilities due to temporary book/tax differences arising primarily from partnerships and passive foreign investment company investments. As of September 30, 2025, the federal income tax cost and net unrealized depreciation on securities were as follows: Cost for federal income tax purposes............... $1,704,108,105 Gross unrealized appreciation.................... $ 48,524,146 Gross unrealized depreciation.................... (318,546,453) Net unrealized depreciation...................... $ (270,022,307) FortheninemonthsendedSeptember30,2025,theCompanyincurred$75,038inDelawarefranchisetaxexpense related to the 2025 tax year. The Company’s wholly-owned subsidiary, Sub II US, has elected to be treated as a corporation for U.S. tax purposes.Assuch,thesubsidiarymaybesubjecttofederal,stateandlocaltaxinjurisdictionswhereitoperatesor is deemed to operate. Sub II US has recorded a deferred tax liability of $1,550,910 as of September 30, 2025, of which $1,097,596 represents tax expense incurred for the nine months ended September 30, 2025. Distributions to Shareholders The composition of distributions paid to common stockholders from net investment income and capital gains is determined in accordance with U.S. federal income tax regulations, which differ from U.S. GAAP. Distributions to common stockholders can be comprised of net investment income, net realized capital gains and return of capital for U.S. federal income tax purposes and are intended to be paid monthly. Distributions payable to common stockholders are recorded as a liability on ex-dividend date. Shareholders who participate in the Company’s distribution reinvestment plan (the “DRIP”) will have their distributions automatically reinvested in shares of the Company as of the payment date pursuant to the DRIP. Shareholders who do not participate in the DRIP generally will receive distributions in cash. In addition to the regular monthly distributions, and subject to available taxable earnings of the Company, the Companymaymakeperiodicspecialand/orsupplementaldistributionsrepresentingtheexcessof theCompany’s taxable income over the Company’s aggregate monthly distributions paid during the year. The characterization of distributions paid to common stockholders, as set forth in the Consolidated Statements of ChangesinNetAssetsandConsolidatedFinancialHighlights,reflectestimatesmadebytheCompanyforU.S. federal income tax purposes. These estimates are subject to change once the final determination of the source of all distributions has been made and the final tax return has been filed by the Company. 24
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) The following table summarizes the distributions declared and paid by the Company for the nine months ended September 30, 2025 on common stock and preferred stock with record dates during 2025: Distribution per Share Distribution Amount Common Stock.............................................. $1.26 $154,591,848 Series C Term Preferred Stock................................... 1.22 2,647,805 Series D Perpetual Preferred Stock................................ 1.27 5,338,700 Series F Term Preferred Stock................................... 1.50 3,729,373 Series AA Convertible Perpetual Preferred Stock...................... 1.31 4,152,510 Series AB Convertible Perpetual Preferred Stock....................... 1.31 291,170 3. VALUATION OF INVESTMENTS The Company accounts for its investments in accordance with U.S. GAAP and determines fair values in accordance with the provisions of the FASB ASC Topic 820, Fair V alue Measurements and Disclosures (“ASC 820”), which defines fair value, establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. Investments are reflected in the consolidated financial statements at fair value, which represents the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., the exit price). Pursuant to Rule 2a-5 under the 1940 Act (“Rule 2a-5”), the Board has designated the Adviser as “valuation designee” responsible for performing fair value determinations, subject to Board oversight and certain other conditions.Intheabsenceof readilyavailablemarketquotations,asdefinedbyRule2a-5,theAdviserdetermines the fair value of the Company’s investments in accordance with its written valuation policy, which has been approved by the Board. Fair value determinations require the application of judgment to the specific facts and circumstances of each investment.WhiletheCompanyappliesaconsistentvaluationprocessacrosssimilarinvestmenttypes,thereisno single method for determining fair value in good faith. Due to the uncertainty in estimating fair value, the values assignedtoinvestmentsmaydiffermateriallyfromvaluesthatwouldhavebeenusedhadanactivemarketforthe investments existed. TheAdviserdeterminesfairvaluebasedonassumptionsthatmarketparticipantswoulduseinpricinganassetor liability in an orderly transaction at the measurement date. When considering market participant assumptions in fair value measurements, the following fair value hierarchy prioritizes and ranks the level of market price observability used in measuring investments: ▪ LevelI — UnadjustedquotedpricesinactivemarketsforidenticalassetsorliabilitiesthattheCompanyis able to access as of the reporting date. ▪ Level II — Inputs, other than quoted prices included in Level I, that are observable either directly or indirectly as of the reporting date. These inputs may include (a) quoted prices for similar assets in active markets,(b)quotedpricesforidenticalorsimilarassetsinmarketsthatarenotactive,(c)inputsotherthan quoted prices that are observable for the asset, or (d) inputs derived principally from or corroborated by observable market data by correlation or other means. ▪ Level III — Pricing inputs are unobservable for the investment and little, if any, active market exists as of the reporting date. Fair value inputs require significant judgment or estimation from the Adviser. In certain cases where inputs used to measure fair value fall into multiple levels of the fair value hierarchy, the classification is based on the lowest level input that is significant to the overall fair value measurement. The 25
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) assessmentof thesignificanceof aparticularinputtothefairvaluemeasurementinitsentiretyrequiresjudgment and consideration of factors specific to the investment. Marketpriceobservabilityisimpactedbyanumberof factors,includingthetypeof investment,thecharacteristics specific to the investment and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily available quoted prices in active market generally require a lesser degree of judgment and have a higher degree of market price observability. Conversely, investments lacking observable market data are valued using Level III inputs, which incorporate the Adviser’s own assumptions (including assumptions the Adviser believes market participants would use in valuing investments and assumptions relating to appropriate risk adjustments for nonperformance and lack of marketability), as outlined in the Adviser’s valuation policy. In accordance with ASC Topic 820, the Company may use net asset value (“NAV”) as a practical expedient to estimate the fair value of certain investments that do not have a readily determinable fair value, such as the Company’sinvestmentinJointVentures(“JV”).WhenNAVisusedasapracticalexpedient,thoseinvestmentsare not categorized within the fair value hierarchy. Anestimateof fairvalueismadeforeachinvestmentatleastmonthlytakingintoaccountinformationavailableas of the reporting date. Fair Value Measurement Thefollowingtablessummarizethevaluationof theCompany’sinvestmentsmeasuredandreportedatfairvalue under the fair value hierarchy levels as of September 30, 2025: Level I Level II Level III Investments measured at NAV Total Assets at Fair Value Investments at Fair Value C L OD e b t .................................. $ — $ 35.1 $ — $ — $ 35.1 CLO Equity ................................. — — 1,130.7 — 1,130.7 Loan Accumulation Facilities........................ — — 42.0 — 42.0 Asset Backed Securities........................... — 67.4 9.5 — 76.9 CFO Equity ................................. — — 49.5 — 49.5 Common Stock ............................... 3 . 2 — 0 . 6 3 . 1 6 . 9 Equipment Financing ............................ — — 3 . 2 — 3 . 2 Loans and Notes............................... 0 . 4 — 32.3 6.9 39.6 Preferred Stock................................ — — 0 . 3 — 0 . 3 Rated Feeder Fund Equity......................... — — 1 . 3 — 1 . 3 Regulatory Capital Relief Securities.................... — — 48.6 — 48.6 Total Investments at Fair Value(1) ....................... $ 3 . 6 $102.6 $1,317.8 $10.0 $1,434.1 Other Financial Instruments at Fair Value(2) Forward Currency Contracts Unrealized appreciation on forward currency contracts . . . . . . . . $ — $ 0.1 $ — $ — $ — Unrealized depreciation on forward currency contracts . . . . . . . . — (1.2) — — (1.2) Total Forward Currency Contracts(1) ..................... $ — $ (1.1) $ — $ — $ (1.2) 26
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Level I Level II Level III Investments measured at NAV Total Liabilities at Fair Value Term Preferred Stock and Unsecured Notes at Fair Value Series 2028 Notes .............................. $ 31.9 $ — $ — $ — $ 31.9 Series 2029 Notes .............................. 87.6 — — — 87.6 Series 2030 Notes .............................. 115.2 — — — 115.2 Series 2031 Notes .............................. 42.7 — — — 42.7 Series C Term Preferred Stock....................... 57.5 — — — 57.5 Series F Term Preferred Stock....................... 62.8 — — — 62.8 Total Term Preferred Stock and Unsecured Notes at Fair Value(1) . . . . . $397.7 $ — $ — $ — $ 397.7 (1) Amounts may not foot due to rounding. (2) Otherfinancialinstrumentsatfairvaluearerepresentativeof derivativecontracts,suchasforwardcurrencycontracts.Theseinstruments are reflected at the unrealized appreciation (depreciation) on the instrument. Significant Unobservable Inputs The following table summarizes the valuation techniques, quantitative inputs and assumptions used for investments categorized within Level III of the fair value hierarchy as of September 30, 2025: Quantitative Information about Level III Fair Value Measurements Assets Fair Value (in millions) Valuation Techniques/ Methodologies Unobservable Inputs Range / Weighted Average(1) CLO Equity.................. $1,130.7 Independent Pricing Service (2) Asset Backed Securities............ 9 . 5 Discounted Cash Flow Discount Rate 12.07% - 13.12% / 12.22% CFO Equity.................. 49.5 Discounted Cash Flow Discount Rate 20.00% - 39.00% / 32.86% Equipment Financing............. 3 . 2 Discounted Cash Flow Discount Rate 14.30% - 14.30% / 14.30% Loans and Notes ............... 31.2 Discounted Cash Flow Discount Rate 9.60% - 15.08% / 12.64% Preferred Stock ................ 0 . 3 Discounted Cash Flow Discount Rate (3) 12.00% Regulatory Capital Relief Securities..... 48.6 Discounted Cash Flow Discount Rate 8.10% - 15.96% / 11.46% Constant Prepayment Rate 0.00% - 25.00% / 10.26% Constant Default Rate 0.00% - 1.55% / 0.80% Loss Severity 0.00% - 60.00% / 43.28% Total Fair Value of Level III Investments (4) . . $1,273.0 (1) Weighted average calculations are based on the fair value of investments. (2) The Company uses an independent pricing service to value CLO Equity investments. The pricing service applies a methodology incorporating market data, including trustee reporting, executable bids, broker quotes from dealers with two-sided markets and transaction activity from comparable securities to those being valued. (3) Range not shown as only one position is included in category. (4) Amounts may not foot due to rounding. Unobservableinputsandassumptionsarereviewedateachmeasurementdateandupdatedasnecessarytoreflect currentmarketconditions.Thetablepresentedisnotintendedtobeall-inclusive,butratherprovidesinformation on significant Level III inputs relevant to the Company’s fair value measurements as of the reporting date. In addition to the techniques and inputs outlined in the preceding table, the Adviser may use other valuation techniquesandmethodologieswhendeterminingthefairvalueof theCompany’sinvestments,aspermittedunder the Adviser’s valuation policy approved by the Board. 27
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Changes in the unobservable inputs and assumptions can have an impact on the fair valuer measurement, specifically: ▪ Increases (decreases) in the default rate and discount rate, in isolation, would generally result in a lower (higher) fair value measurement. ▪ Changesintheprepaymentratemayresultinahigherorlowerfairvalue,dependingonthecircumstances. ▪ Generally,achangeinthedefaultrateassumptionmaybeaccompaniedbyadirectionallyoppositechange in the assumption used for the prepayment and recovery. Certain of the Company’s Level III investments have been valued using unadjusted inputs that have not been internally developed by the Adviser, including third-party transactions, recent market transactions and data reported by trustees. As a result, investments with a fair value of $44.8 million have been excluded from the preceding table. Change in Investments Classified as Level III ThefollowingtableincludesadditionalinformationpertainingtofinancialinstrumentsclassifiedwithinLevelIII for the year ended September 30, 2025: Change in Investments Classified as Level III (in millions) CLO Equity Loan Accumulation Facilities Asset Backed Securities CFO Equity Common Stock Balance as of January 1, 2025............. $1,112.9 $ 31.0 $ 59.5 $18.8 $0.0 Purchases of investments................ 264.1(1) 93.5 7.9 38.2 — Proceeds from sales or maturity of investments . . . (171.9) (2) (82.9)(1) (28.0) — — Payment-in-kind interest . . .............. — — — — — Net realized gains (losses) and net change in unrealized appreciation (depreciation)....... (74.4) 0.4 2.1 (6.2) 0.6 Transfers into Level III................. — — — — — Transfers out of Level III............... — — (32.0) — — Balance as of September 30, 2025(3)(4) ......... $1,130.7 $ 42.0 $ 9.5 $50.8 $0.6 Change in unrealized appreciation (depreciation) on investments still held as September 30, 2025.... $ (59.5) $ 0.2 $ 0.1 $(6.2) $0.6 Equipment Financing Loans and Notes Preferred Stock Rated Feeder Fund Equity Regulatory Capital Relief Securities Total Balance as of January 1, 2025............. $6 . 8 $13.0 $0.3 $ — $ 44.3 $1,286.6 Purchases of investments................ — 19.6 — 1.3 18.1 441.4 Proceeds from sales or maturity of investments . . . (3.6) (1.4) — — (15.9) (303.7) Payment-in-kind interest................ — 0 . 3 — — — 0 . 3 Net realized gains (losses) and net change in unrealized appreciation (depreciation)....... — 0 . 8 — — 2 . 1 (74.5) Transfers into Level III................. — — — — — — Transfers out of Level III............... — — — — — (32.0) Balance as of September 30, 2025 (3)(4) ......... $3 . 2 $32.3 $0.3 $ 1.3 $ 48.6 $1,317.8 Change in unrealized appreciation (depreciation) on investments still held as September 30, 2025.... $(0.0) $ 0.7 $ — $(0.0) $ 2.1 $ (61.8) 28
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) (1) Includes $70.9 million of proceeds from sales of investments in loan accumulation facilities transferred to purchases of investments in CLO equity. (2) Includes $102.3 million of return of capital on CLO equity investments from recurring cash flows and distributions from called deals. (3) Amounts may not foot due to rounding. Net realized gains or losses recorded for Level III investments are reported in the net realized gain (loss) on investments, foreign currency and cash equivalents balance in the Consolidated Statement of Operations. Net changes in unrealized appreciation or depreciation are reported in the net change in unrealized appreciation (depreciation) on investments, foreign currency and cash equivalents balance in the Consolidated Statement of Operations. Fair Value — Valuation Techniques and Inputs The Adviser has established valuation processes and procedures to ensure the valuation techniques are fair and consistent,andvaluationinputsaresupportable.Oversightof thevaluationprocessisconductedbytheAdviser’s Valuation Committee, comprised of senior personnel of the Adviser, the majority of which are not members of the Company’s portfolio management function. The Valuation Committee is responsible for overseeing the implementationof theAdviser’swrittenvaluationpolicies,whichhavebeenapprovedbytheBoard,andevaluating theoverallfairnessandconsistencyof thevaluationprocess.TheValuationCommitteereviewsandapprovesthe fair value determinations of the Company’s portfolio investments on a monthly basis. V aluation of CLO Equity TheCompany’sinvestmentsinCLOequityhavebeenvaluedusinganindependentpricingservice,inaccordance withtheAdviser’svaluationpolicyapprovedbytheBoard.Theindependentpricingserviceappliesamethodology incorporating market data, including reporting from trustees, executable bids, broker quotes from dealers with two-sided markets and transaction activity from comparable securities to those being valued. To monitor the accuracy of the marks provided by the pricing service, the Adviser utilizes a third-party financial toolthatprojectsfuturecashflowsof CLOequitytranchesbasedondetailedCLO-specificdata,suchasassetand liabilityinformationsourcedfromtrusteereports,andmarketassumptions.Keyinputsinclude,butarenotlimited to, assumptions for loan default rates, recovery rates, prepayment rates, reinvestment rates and discount rates. Theseassumptionsaredeterminedbyconsideringbothobservableandthird-partymarketdata,prevailinggeneral market assumptions and conventions, and the Adviser’s own analysis. Additionally, the Adviser considers a valuation range provided by a third-party independent valuation firm in determiningthefairvalueof CLOequityinvestments.Thevaluationfirm’sadviceisonlyonefactorconsideredin thevaluationof suchinvestments,andtheAdviserdoesnotsolelyrelyonsuchadviceinaccordancewithRule2a-5. While an active market may exist for CLO equity securities, it may not be active or observable for the specific investmentsheldbytheCompanyasof thereportingdate,assuchtheAdvisercategorizesCLOequityaslevelIII within the fair value hierarchy. V aluation of CLO Debt The Company’s investments in CLO debt have been valued using an independent pricing service. The valuation methodology of the independent pricing service includes incorporating data comprised of observable market transactions, executable bids, broker quotes from dealers with two sided markets, as well as transaction activity from comparable securities to those being valued. As the independent pricing service contemplates real time marketdataandnounobservableinputsorsignificantjudgmenthasbeenusedbytheAdviserinthevaluationof the Company’s investment in CLO debt, such investments are considered Level II assets. 29
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) V aluation of Loan Accumulation Facilities The Company’s investments in Loan Accumulation Facilities (“LAFs”) are valued in accordance with ASC 820, using the income approach, which reflects current market expectations of future cash flows (i.e., exit price). LAFs are typically short to medium-term in nature and formed to acquire loans on an interim basis that are expected to form part of a specific CLO transaction. When the LAF governing documents require loans to be transferred to the CLO at original cost plus accrued interest, the Adviser determines the fair value based on the cost of the Company’s investment (i.e., the principal amount invested) and the Company’s attributable share of net investment income and any realized gains or losses reported by the trustee during the applicable reporting period. If the loans are expected to be transferred to the CLO at market value due to provisions in the LAF governing documents or because the Adviser determines a CLO transaction is no longer anticipated, the Adviser will continuetofairvaluetheLAFconsistentusingtheincomeapproach,butwillmodifythefairvaluemeasurement to reflect the change in exit strategy of the LAF to incorporate market expectations of the receipt of future amounts(i.e.,exitprice).Insuchcases,thefairvalueof theLAFwillincludethecostof theCompany’sinvestment (i.e.,theprincipalamountinvested),theCompany’sattributableshareof unrealizedgainsorlossesontheLAF’s underlying loan assets, net investment income and any realized gains or losses reported by the trustee during the applicable reporting period. Due to the absence of an active market and the use of unobservable inputs, the Adviser categorizes LAFs as Level III investments within the fair value hierarchy. V aluation of ABS, CFO Equity, Common Stock, Loans and Notes, Equipment Financing, Preferred Stock, Rated Feeder Fund Equity and Regulatory Capital Relief Securities TheAdvisergenerallyengagesanationallyrecognizedindependentvaluationagenttodeterminefairvalueforthe Company’s investments in ABS, CFO equity, common stock, loans and notes, equipment financing, preferred stock,ratedfeederfundequity,andregulatorycapitalrelief securities.Theindependentvaluationagenttypically performsadiscountedcashflowanalysisorothervaluationtechniqueappropriateforthefactsandcircumstances, todeterminethefairvalueof suchinvestments,ultimatelyprovidingahighandlowvaluationforeachinvestment. The final valuation recorded by the Company falls within this range. Duetothelackof observableinputs,theAdvisercategorizestheseinvestmentsasLevelIIIinvestmentswithinthe fair value hierarchy. Where available, the Adviser may also utilize the mid-point of an indicative broker quotation or independent pricing service quotation to value such investments as of the reporting date. Depending on the availability of an active market as of the reporting date, these investments may be classified as Level II or Level III within the fair value hierarchy. V aluation of Exchange-Traded Investments The Adviser values common stock investments that are traded on a national securities exchange at their last reported closing price from the applicable exchange as of the measurement date. Due to their observability and active market, the Adviser categorizes such investments as Level I within the fair value hierarchy. V aluation of Joint V enture Investments JV investments consist of common stock and senior unsecured notes issued by a JV entity. The Company values suchinvestmentsusingNAVasapracticalexpedient,unlessitisprobablethattheCompanywillsellaportionof the investment at an amount different from NAV. 30
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) V aluation of Unsecured Notes and Term Preferred Stock The Unsecured Notes and Term Preferred Stock are classified as Level I within the fair value hierarchy and are valued at their official closing price, as reported by the NYSE. Change in V aluation Techniques DuringtheninemonthsendedSeptember30,2025,theAdviserchangedthevaluationtechniqueusedtovaluethe Company’s investments in CLO equity. Historically, CLO equity investments were valued utilizing a third-party financialtoolthatprojectedfuturecashflowsof CLOequitytranches,withtheresultingvaluationscomparedto ranges provided by an independent valuation agent. During the nine months ended September 30, 2025, the Companytransitionedtousinganindependentpricingserviceastheprimarysourceof valuationmarksforCLO equity. The pricing service incorporates observable market data, including trustee reporting, executable bids, brokerquotesfromdealerswithtwo-sidedmarkets,andtransactionactivityincomparablesecurities.Thischange was made to enhance consistency with market-based inputs and improve the timeliness of valuations. TheAdvisercontinuestomonitortheaccuracyof pricingservicemarksthroughinternalreviewsandsupplemental valuation tools, and retains responsibility for final fair value determinations in accordance with the Company’s valuation policy and Rule 2a-5 under the 1940 Act. Investment Risk Factors The following list is not intended to be a comprehensive list of the potential risks associated with the Company. The Company’s prospectus provides a detailed discussion of the Company’s risks and considerations. The risks described in the prospectus are not the only risks the Company faces. Additional risks and uncertainties not currentlyknowntotheCompanyorthatarecurrentlydeemedtobeimmaterialalsomaymateriallyandadversely affect its business, financial condition and/or operating results. Risks of Investing in CLOs and Other Structured Debt Securities CLOs and similar structured finance securities in which the Company invests are backed by a pool of credit- related assets that serve as collateral. Accordingly, such securities present risks similar to those of other types of credit investments, including default (credit), interest rate and prepayment risks. Adverse credit events impacting a CLO’s or structured finance security’s underlying collateral would be expected to reduce cash flows payable to the Company as investor in the equity tranche. Compression of credit spreads on a CLO’s underlying senior securedloans,absentacommensurate(intimingormagnitude)refinancingorresetof theCLO’sliabilities,would generally reduce the residual cash flows available to the CLO equity. In addition, there is a risk that majority lenderstoanunderlyingloanorotherdebtinstrumentheldbyaCLOorstructuredfinancesecuritycouldamend or otherwise modify the loan or debt instrument to the detriment of the CLO or structured finance security (including, for example, by transferring collateral or otherwise reducing the priority of the CLO’s or structured finance security’s investment within the borrower’s capital structure). Such actions would impair the value of the CLO’sorstructuredfinancesecurity’sinvestmentand,ultimately,theCompany.Inaddition,CLOsandstructured finance securities present risks related to the capability of the servicer of the securitized assets. CLOs and other structured finance securities are often governed by a complex series of legal documents and contracts, which increasestheriskof disputeovertheinterpretationandenforceabilityof suchdocumentsrelativetoothertypesof investments.ThereisalsoariskthatthetrusteeorotherservicerdoesnotproperlycarryoutitsdutiestotheCLO orstructuredfinancesecurity,potentiallyresultinginloss.CLOsandcertainstructuredfinancesecuritiesarealso inherently leveraged vehicles and therefore subject to leverage risk. TheCompanymayalsoinvestinstructuredsecuritiesthatarecollateralizedbyothertypesof assets.Forexample, the Company may invest in collateralized fund obligations (“CFOs”) or rated feeders, which typically consist of tranchesof notesand/orequityissuedbyaspecialpurposevehiclethatholdslimitedpartnershipinterestsinone or more private funds. Investments in CFOs and rated feeders are generally subject to the risks applicable to the 31
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) underlying fund collateral, including uncertainty as to the amount and timing of underlying fund distributions, transferrestrictionsandgeneralilliquidityof underlyingfundinvestments,dependenceof theperformanceof the underlying funds’general partner and key personnel, leverage risks, and general market and economic factors. Subordinated Securities Risk CLOequityandjuniordebtsecuritiesthattheCompanymayacquirearesubordinatetomoreseniortranchesof CLOdebt.CLOequityandjuniordebtsecuritiesaresubjecttoincreasedrisksof defaultrelativetotheholdersof superiorpriorityinterestsinthesameCLO.Inaddition,atthetimeof issuance,CLOequitysecuritiesareunder- collateralizedinthatthefaceamountof thedebtandequityof aCLOatinceptionexceedstheCLO’stotalassets. The Company will typically be in a subordinated or first loss position with respect to realized losses on the underlying assets held by the CLOs in which the Company is invested. High Yield Investment Risk TheCLOequityandjuniordebtsecuritiesthattheCompanyacquiresaretypicallyratedbelowinvestmentgrade or, in the case of CLO equity securities, unrated and are therefore considered “higher yield”or “junk”securities andareconsideredspeculativewithrespecttotimelypaymentof interestandrepaymentof principal.Thesenior securedloansandothercredit-relatedassetsunderlyingCLOsarealsotypicallyhigheryieldinvestments.Investing inCLOequityandjuniordebtsecuritiesandotherhighyieldinvestmentsinvolvesgreatercreditandliquidityrisk than investment grade obligations, which may adversely impact the Company’s performance. Leverage Risk Theuseof leverage,whetherdirectlyorindirectlythroughinvestmentssuchasCLOequityorjuniordebtsecurities thatinherentlyinvolveleverage,maymagnifytheCompany’sriskof loss.CLOequityorjuniordebtsecuritiesare very highly leveraged (with CLO equity securities typically being leveraged ten times), and therefore the CLO securities in which the Company invests are subject to a high degree of risk of loss. Credit Risk If (1) a CLO in which the Company invests, (2) an underlying asset of any such CLO or (3) any other type of creditinvestmentintheCompany’sportfoliodeclinesinpriceorfailstopayinterestorprincipalwhenduebecause the issuer or debtor, as the case may be, experiences a decline in its financial status, the Company’s income, NAV and/ormarketpricewouldbeadverselyimpacted.Additionally,interestonaCLOmaybepaidinkindordeferred and capitalized (paid in the form of obligations of the same type rather than cash), which involves continued exposure to default risk with respect to such payments. Key Personnel Risk The Adviser manages our investments. Consequently, the Company’s success depends, in large part, upon the services of the Adviser and the skill and expertise of the Adviser’s professional personnel. There can be no assurancethattheprofessionalpersonnelof theAdviserwillcontinuetoserveintheircurrentpositionsorcontinue tobeemployedbytheAdviser.Wecanoffernoassurancethattheirserviceswillbeavailableforanylengthof time or that the Adviser will continue indefinitely as the Company’s investment adviser. Conflicts of Interest Risk TheCompany’sexecutiveofficersanddirectors,andtheAdviserandcertainof itsaffiliatesandtheirofficersand employees, including the members of the Senior Investment Team, have several conflicts of interest as a result of theotheractivitiesinwhichtheyengage.Forexample,themembersof theAdviser’sinvestmentteamareandmay inthefuturebecomeaffiliatedwithentitiesengagedinbusinessactivitiessimilartooursandmayhaveconflictsof interest in allocating their time. Moreover, each member of the Adviser’s Senior Investment Team is engaged in otherbusinessactivitieswhichdiverttheirtimeandattention.Asaresultof theseseparatebusinessactivities,the 32
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Adviser has conflicts of interest in allocating management time, services and functions among us, other advisory clients and other business ventures. Prepayment Risk The assets underlying the CLO securities in which the Company invests are subject to prepayment by the underlying corporate borrowers. As such, the CLO securities and related investments in which the Company investsaresubjecttoprepaymentrisk.If theCompanyoraCLOcollateralmanagerareunabletoreinvestprepaid amounts in a new investment with an expected rate of return at least equal to that of the investment repaid, the Company’s investment performance will be adversely impacted. Liquidity Risk Generally,thereisnopublicmarketfortheCLOinvestmentsinwhichtheCompanyinvests.Assuch,theCompany may not be able to sell such investments quickly, or at all. If the Company is able to sell such investments, the prices the Company receives may not reflect the Adviser’s assessment of their fair value or the amount paid for such investments by the Company. Incentive Fee Risk The Company’s incentive fee structure and the formula for calculating the fee payable to the Adviser may incentivizetheAdvisertopursuespeculativeinvestmentsanduseleverageinamannerthatadverselyimpactsthe Company’s performance. Fair V aluation of the Company’s Portfolio Investments Generally,thereisnopublicmarketfortheCLOinvestmentsandcertainothercreditassetsinwhichtheCompany mayinvest.TheAdviservaluesthesesecuritiesatleastquarterly,ormorefrequentlyasmayberequiredfromtime totime,atfairvalue.TheAdviser’sdeterminationsof thefairvalueof theCompany’sinvestmentshaveamaterial impact on the Company’s net earnings through the recording of unrealized appreciation or depreciation of investmentsandmaycausetheCompany’sNAVonagivendatetounderstateoroverstate,possiblymaterially,the value that the Company ultimately realizes on one or more of the Company’s investments. Limited Investment Opportunities Risk ThemarketforCLOsecuritiesismorelimitedthanthemarketforothercreditrelatedinvestments.TheCompany can offer no assurances that sufficient investment opportunities for the Company’s capital will be available. In recent years there has been a marked increase in the number of, and flow of capital into, investment vehicles establishedtopursueinvestmentsinCLOsecuritieswhereasthesizeof themarketisrelativelylimited.Whilethe Companycannotdeterminethepreciseeffectof suchcompetition,suchincreasemayresultingreatercompetition for investment opportunities, which may result in an increase in the price of such investments relative to the risk taken on by holders of such investments. Such competition may also result under certain circumstances in increased price volatility or decreased liquidity with respect to certain positions. Non-Diversification Risk TheCompanyisanon-diversifiedinvestmentcompanyunderthe1940Actandexpectstoholdanarrowerrange of investments than a diversified fund under the 1940 Act. Market Risk Political,regulatory,economicandsocialdevelopments,anddevelopmentsthatimpactspecificeconomicsectors, industriesorsegmentsof themarket,canaffectthevalueof theCompany’sinvestments.Adisruptionordownturn in the capital markets and the credit markets could impair the Company’s ability to raise capital, reduce the availability of suitable investment opportunities for the Company, or adversely and materially affect the value of 33
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) the Company’s investments, any of which would negatively affect the Company’s business. These risks may be magnified if certain events or developments adversely interrupt the global supply chain, and could affect companies worldwide. Loan Accumulation Facilities Risk The Company may invest in loan accumulation facilities (“LAFs”), which are short to medium term facilities often provided by the bank that will serve as placement agent or arranger on a CLO transaction and which acquire loans on an interim basis which are expected to form part of the portfolio of a future CLO. Investments in LAFs have risks similar to those applicable to investments in CLOs. Leverage is typically utilized in such a facilityandassuchthepotentialriskof losswillbeincreasedforsuchfacilitiesemployingleverage.Intheeventa planned CLO is not consummated, or the loans are not eligible for purchase by the CLO, the Company may be responsible for either holding or disposing of the loans. This could expose the Company to credit and/or mark- to-market losses, and other risks. Synthetic Investments Risk The Company may invest in synthetic investments, such as significant risk transfer securities and credit risk transfersecuritiesissuedbybanksorotherfinancialinstitutions,oracquireinterestsinleaseagreementsthathave thegeneralcharacteristicsof loansandaretreatedasloansforwithholdingtaxpurposes.Inadditiontothecredit risksassociatedwiththeapplicablereferenceassets,theCompanywillusuallyhaveacontractualrelationshiponly with the counterparty of such synthetic investment, and not with the reference obligor of the reference asset. Accordingly, the Company generally will have no right to directly enforce compliance by the reference obligor withthetermsof thereferenceassetnorwillithaveanyrightsof setoff againstthereferenceobligororrightswith respect to the reference asset. The Company will not directly benefit from the collateral supporting the reference asset and will not have the benefit of the remedies that would normally be available to a holder of such reference asset. In addition, in the event of the insolvency of the counterparty, the Company may be treated as a general creditor of such counterparty, and will not have any claim with respect to the reference asset. Consequently, the Companywillbesubjecttothecreditriskof thecounterpartyaswellasthatof thereferenceobligor.Asaresult, concentrations of synthetic securities in any one counterparty subjects the Company to an additional degree of risk with respect to defaults by such counterparty as well as by the reference obligor. Currency Risk Although the Company primarily makes investments denominated in U.S. dollars, the Company may make investments denominated in other currencies. The Company’s investments denominated in currencies other than U.S. dollars will be subject to the risk that the value of such currency will decrease in relation to the U.S. dollar. The Company may or may not hedge currency risk. Hedging Risk Hedging transactions seeking to reduce risks may result in poorer overall performance than if the Company had not engaged in such hedging transactions. Additionally, such transactions may not fully hedge the Company’s risks. Reinvestment Risk CLOs will typically generate cash from asset repayments and sales that may be reinvested in substitute assets, subjecttocompliancewithapplicableinvestmenttests.If theCLOcollateralmanagercausestheCLOtopurchase substituteassetsataloweryieldthanthoseinitiallyacquiredorsaleproceedsaremaintainedtemporarilyincash, it would reduce the excess interest-related cash flow, thereby having a negative effect on the fair value of the Company’s assets and the market value of the Company’s securities. In addition, the reinvestment period for a CLO may terminate early, which would cause the holders of the CLO’s securities to receive principal payments 34
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) earlierthananticipated.TherecanbenoassurancethattheCompanywillbeabletoreinvestsuchamountsinan alternative investment that provides a comparable return relative to the credit risk assumed. Interest Rate Risk Fluctuations in interest rates, whether driven by governmental policy, inflation expectations, or other market factors,couldadverselyaffecttheCompany’sresults,includingboththelevelof cashflowstheCompanygenerates and the market value of its portfolio investments. IncomefromtheCompany’sinvestmentsinfloating-rateinstruments(includingCLOdebtsecurities)willgenerally rise or fall with changes in the Secured Overnight Financing Rate (“SOFR”) or another applicable benchmark rate. Inasustainedperiodof elevatedinterestratesand/oraneconomicdownturn,loandefaultratescouldrise,leading to higher credit losses that may reduce the Company’s cash flow, the fair value of its assets, and its operating results.Conversely,asignificantdeclineininterestratescoulddecreaseportfolioincomeovertimeasloansreprice at lower coupons. Anincreaseininterestratesmayalsonegativelyaffectthevalueof theCompany’sfixed-rateinvestments,suchas high-yield bonds, and could increase the Company’s own financing costs to the extent it issues floating rate debt or refinances fixed-rate debt or preferred equity at higher rates in the future, thereby reducing net investment income. Refinancing Risk If the Company incurs debt financing and subsequently refinances such debt, the replacement debt may be at a higher cost and on less favorable terms and conditions. If the Company fails to extend, refinance or replace such debt financings prior to their maturity on commercially reasonable terms, the Company’s liquidity will be lower thanitwouldhavebeenwiththebenefitof suchfinancings,whichwouldlimittheCompany’sabilitytogrow,and holdersof theCompany’scommonstockwouldnotbenefitfromthepotentialforincreasedreturnsonequitythat incurring leverage creates. Tax Risk If the Company fails to qualify for tax treatment as a RIC under Subchapter M of the Code for any reason, or otherwisebecomessubjecttocorporateincometax,theresultingcorporatetaxes(andanyrelatedpenalties)could substantiallyreducetheCompany’snetassets,theamountof incomeavailablefordistributionstotheCompany’s stockholders, and the amount of income available for payment of the Company’s other liabilities. Derivatives Risk DerivativeinstrumentsinwhichtheCompanymayinvestmaybevolatileandinvolvevariousrisksdifferentfrom, andincertaincasesgreaterthan,theriskspresentedbyotherinstruments.Theprimaryrisksrelatedtoderivative transactionsincludecounterparty,correlation,liquidity,leverage,volatility,over-the-countertrading,operational andlegalrisks.Inaddition,asmallinvestmentinderivativescouldhavealargepotentialimpactontheCompany’s performance, effecting a form of investment leverage on the Company’s portfolio. In certain types of derivative transactions,theCompanycouldlosetheentireamountof theCompany’sinvestment;inothertypesof derivative transactions the potential loss is theoretically unlimited. Counterparty Risk TheCompanymaybeexposedtocounterpartyrisk,whichcouldmakeitdifficultfortheCompanyortheissuers in which the Company invests to collect on obligations, thereby resulting in potentially significant losses. 35
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Price Risk Investors who buy shares at different times will likely pay different prices. Non-U.S. Investing Risk Investing in foreign entities or issuers with underlying non-U.S. assets may expose us to additional risks not typically associated with investing in U.S. entities and issuers. These risks include changes in exchange control regulations, political and social instability, restrictions on the types or amounts of investment, the imposition of sanctions,tariffs,orothergovernmentalrestrictions,expropriation,impositionof foreigntaxes,lessliquidmarkets and less available information than is generally the case in the U.S., higher transaction costs, less government supervisionof exchanges,brokersandissuers,lessdevelopedbankruptcylaws,difficultyinenforcingcontractual obligations,lackof uniformaccountingandauditingstandards,currencyfluctuationsandgreaterpricevolatility. Further, we, and the issuers in which we invest, may have difficulty enforcing creditor’s rights in foreign jurisdictions. Global Risk Due to highly interconnected global economies and financial markets, the value of the Company’s securities and its underlying investments may go up or down in response to governmental actions and/or general economic conditions throughout the world. Events such as war, military conflict, acts of terrorism, social unrest, natural disasters, recessions, inflation, rapid interest rate changes, supply chain disruptions, sanctions, the enactment of trade tariffs, the spread of infectious illness or other public health threats could also significantly impact the Company and its investments. Banking Risk The possibility of future bank failures poses risks of reduced financial market liquidity at clearing, cash management and other custodial financial institutions. The failure of banks which hold cash on behalf of the Company,theCompany’sunderlyingobligors,thecollateralmanagersof theCLOsinwhichtheCompanyinvests (or managers of other securitized or pooled vehicles in which the Company invests), or the Company’s service providers could adversely affect the Company’s ability to pursue its investment strategies and objectives. For example, if an underlying obligor has a commercial relationship with a bank that has failed or is otherwise distressed,suchobligormayexperiencedelaysorotherdisruptionsinmeetingitsobligationsandconsummating business transactions. Additionally, if a collateral manager has a commercial relationship with a distressed bank, the manager may experience issues conducting its operations or consummating transactions on behalf of the CLOs it manages, which could negatively affect the performance of such CLOs (and, therefore, the performance of the Company). 4. DERIVATIVE CONTRACTS The Company enters into forward currency contracts to manage its exposure to the foreign currencies in which certain investments are denominated. Risks associated with forward currency contracts include the potential inability of counterparties to meet the terms of their respective contracts and movements in fair value and exchange rates. Volume of Derivative Activities TheCompanyconsidersthenotionalamounts,categorizedbyprimaryunderlyingrisk,toberepresentativeof the volume of its derivative activity during the nine months ended as of September 30, 2025: Notional amounts Primary Underlying Risk Long Exposure Short exposure Foreign Exchange Risk Forward Currency Contracts.......... $110,579,969 $6,115,074 36
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Effect of Derivatives on the Consolidated Statement of Assets and Liabilities and Consolidated Statement of Operations Thefollowingtablepresentsthefairvalueamountsof derivativecontractsincludedintheConsolidatedStatement of Assets and Liabilities, categorized by type of contract, as of September 30, 2025. Balances are presented on a gross basis, prior to the application of counterparty and collateral netting. Additionally, the table identifies the realizedandunrealizedgainandlossamountsincludedintheConsolidatedStatementof Operations,categorized by type of contract, for the nine months ended September 30, 2025: Type of Contracts Derivative Assets Derivative Liabilities Realized Gain (Loss) Unrealized Gain (Loss) Forward Currency Contracts.......... $74,280 $(1,194,226) $(7,298,648) $(5,225,697) Offsetting of Assets and Liabilities TheCompanyissubjecttomasternettingagreementswithonecounterparty.Theseagreementsgoverntheterms of certain transactions and reduce the counterparty risk associated with relevant transactions by specifying offsetting mechanisms and collateral posting arrangements at prearranged exposure levels. Thefollowingtablepresentspotentialeffectsof nettingarrangementsforderivativecontracts,bycounterparty,as reported in the Consolidated Statement of Assets and Liabilities as of September 30, 2025: Type of Contracts Presented on the Consolidated Statement of Assets and LiabilitiesCollateral (Received) Pledged Net AmountDerivative Assets Derivative Liabilities Counterparty 1 . . . $74,280 $(1,194,226) $5,560,000 $4,440,054 5. RELATED PARTY TRANSACTIONS Investment Advisory Agreement On June 6, 2014, the Company entered into an investment advisory agreement with the Adviser, which was amended and restated on May 16, 2017 (the “Advisory Agreement”). Pursuant to the terms of the Advisory Agreement, the Company pays the Adviser a management fee and an incentive fee for its services. Management fee The management fee is calculated at an annual rate equal to 1.75% of the Company’s “total equity base” and payablequarterlyinarrears.“Totalequitybase”isdefinedasthenetassetvalueattributabletothecommonstock and the paid-in, or stated, capital of the preferred stock. For the nine months ended September 30, 2015, the Companyincurredamanagementfeeof $15.4million,withapayablebalanceof $5.4millionasof September30, 2025. Incentive fee The incentive fee is calculated and payable quarterly, in arrears, based on the Company’s pre-incentive fee net investment income (“PNII”) for the immediately preceding calendar quarter, and is subject to a hurdle rate, expressed as a rate of return on the value of the Company’s net assets, equal to 2.00% per quarter (8.00% annualized), and a “catch-up”feature. For this purpose, PNII means interest income, dividend income and any other income (including any other fees, such as commitment, origination, structuring, diligence and consulting fees or other fees the Company receives from an investment) accrued during the calendar quarter, minus the Company’s operating expenses for the quarter (including the management fee, expenses payable under the Administration Agreement (as defined below) and any interest expense and distributions paid on any issued and outstanding preferred stock or debt, but excluding the incentive fee). PNII includes, in the case of investments with a deferred interest feature (such as original issue discount, debt instruments with payment in-kind interest 37
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) and zero coupon securities), accrued income that the Company has not yet received in cash. PNII excludes any realized or unrealized capital gains or losses. The portion of incentive fee that is attributable to deferred interest (such as payment-in-kind interest or original issue discount) will be paid to the Adviser, without interest, only if and to the extent the Company actually receives such deferred interest in cash, and any accrual thereof will be reversed if and to the extent such interest is reversed in connection with any write-off or similar treatment of the investment giving rise to any deferred interest accrual. The Company pays the Adviser an incentive fee with respect to the Company’s PNII in each calendar quarter as follows: (1) no incentive fee if the Company’s PNII does not exceed the hurdle rate of 2.00%; (2) 100%of theCompany’sPNIIwithrespecttothatportionof suchPNII,if any,exceedingthehurdlerate but equal to or less than 2.50% (the “catch-up”) (3) 20% of the amount of the Company’s PNII, if any, exceeding 2.50% For the nine months ended September 30, 2025, the Company incurred an incentive fee of $19.4 million, with a payable balance of $8.7 million as of September 30, 2025. Administration Agreement OnJune6,2014,theCompanyenteredintoanadministrationagreement(the“AdministrationAgreement”)with the Administrator, an affiliate of the Adviser. Pursuant to the Administration Agreement, the Administrator provides a range of administrative services to the Company, including maintaining financial records, providing accounting services, calculating NAV, overseeing the preparation and filing of the Company’s tax returns, monitoring compliance with tax laws and regulations, assisting with audits conducted by an independent public accounting firm, managing the printing and disseminating reports to the Company’s shareholders, maintaining the Company’s website, supporting investor relations, overseeing the payment of the Company’s expenses, coordinating the performance of administrative and professional services rendered to the Company by third parties, and providing other administrative services as the Company may designate from time to time. Payments under the Administration Agreement are equal to an amount based upon the Company’s allocable portion of the Administrator’s overhead incurred in performing its obligations under the Administration Agreement, including rent, compliance-related fees and expenses, and the Company’s allocable portion of the compensation of the Company’s chief compliance officer, chief financial officer, chief operating officer and related support staff. The Company’s allocable portion of such compensation is based on an allocation of the time spent on the Company-related matters. CertainaccountingandotheradministrativeservicesweredelegatedbytheAdministratortoSS&CTechnologies, Inc. (“SS&C”). To the extent the Administrator outsources any of its functions, the Company pays the fees on a direct basis, without profit to the Administrator. The Administration Agreement may be terminated by the Company without penalty upon not less than sixty days’writtennoticetotheAdministratorandbytheAdministratoruponnotlessthanninetydays’writtennotice to the Company. The Administration Agreement is approved by the Board on an annual basis. FortheninemonthsendedSeptember30,2025,theCompanywaschargedatotalof $1.2millioninadministration fees consisting of $0.7 million and $0.5 million, relating to services provided by the Administrator and SS&C, respectively, which are included in the Consolidated Statement of Operations and, of which $0.2 million was payable as of September 30, 2025. 38
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Dealer Manager Agreement On March 22, 2024, the Company entered into a dealer manager agreement (the “Dealer Manager Agreement”) withEaglePointSecuritiesLLC(the“DealerManager”),aregisteredbroker-dealerandanaffiliateof theAdviser, withrespecttotheofferingof theCompany’sConvertiblePerpetualPreferredStock.Pursuanttothetermsof the Dealer Manager Agreement, the Dealer Manager acts as a distributor of the Company’s Convertible Perpetual Preferred Stock on a best-efforts basis, subject to various conditions. The Company’s Convertible Perpetual PreferredStockareofferedforsalethroughtheDealerManageratapublicofferingpriceof $25.00pershare(the “ConvertiblePerpetualPreferredStockLiquidationPreference”),subjecttocertainreductions.UndertheDealer ManagerAgreement,theDealerManageralsoprovidescertainmarketingandwholesaleservicesinconsideration of its receipt of a dealer manager fee. TheCompanypaystheDealerManagerasellingcommissionof upto6.0%of theConvertiblePerpetualPreferred Stock Liquidation Preference for each share of the Series AA Convertible Perpetual Preferred Stock sold and a dealer manager fee of up to 2.0% of the Convertible Perpetual Preferred Stock Liquidation Preference for each share of the Series AA Convertible Perpetual Preferred Stock and Series AB Convertible Perpetual Preferred Stocksold.FortheninemonthsendedSeptember30,2025,thetotalamountpaidbytheCompanyinconnection with Convertible Perpetual Preferred Stock to the Dealer Manager was $6.2 million. The Dealer Manager may reallow a portion or all of the selling commissions and/or the dealer manager fees to selling agents for selling shares of the Convertible Perpetual Preferred Stock to customers. On April 11, 2025, the Company entered into an At Market Issuance Dealer Manager Agreement, or the “ATM Dealer Manager Agreement,”with the Dealer Manager. Pursuant to the ATM Dealer Manager Agreement, the Company may offer and sell shares of its common stock and Preferred Stock from time to time through the Dealer Manager (including through any sub-placement agent chosen by the Dealer Manager). For the period from April 11, 2025 to September 30, 2025, the company paid $1 million in commission associated with sales under the ATM Dealer Manager Agreement, of which $0.2 million was paid to the Dealer Manager and $0.8 million was paid to sub-placement agents chosen by the Dealer Manager. Affiliated Ownership As of September 30, 2025, the Adviser and senior investment team held an aggregate of 1.2% of the Company’s common stock, 0.1% of the Series C Term Preferred Stock and 0.02% of the Convertible Perpetual Preferred Stock. This represented 1.1% of the total outstanding voting stock of the Company as of September 30, 2025. Additionally,theseniorinvestmentteamheldanaggregateof 0.3%of theSeries2028Notes,asof September30, 2025. Joint Venture On December 5, 2022, the Company (and certain other accounts managed by the Adviser) acquired unsecured notesandequityinterestsinaJVwithathird-partyinternally-managedbusinessdevelopmentcompany(the“JV Partner”). The JV, Senior Credit Corp 2022 LLC, invests in secured loans and equipment financings to growth- stagecompaniesthathavebeenoriginatedbytheJVPartner.Asof September30,2025,theCompanyheld6.68% of the JV’s outstanding equity. Exemptive Relief OnJuly18,2025,theSECissuedanordergrantingtheCompanyexemptiverelief toco-investincertainnegotiated investmentswithaffiliatedinvestmentfundsmanagedbytheAdviser,subjecttocertainconditions.PriortoJuly18, 2025, the Company received exemptive relief from a previous order issued on March 17, 2015. Affiliated Investments The Company has investments that are considered affiliated investments, as defined under the 1940 Act. These represent investments in issuers where the Company and other funds managed by the Adviser or its affiliates collectively own 5% or more of the issuer’s outstanding voting securities. 39
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) The following investments were considered affiliated investments as of September 30, 2025: Issuer Investment Description Interest Income Dividend Income Net Unrealized Appreciation (Depreciation) on Investments, Foreign Currency and Cash Equivalents Fair Value Funded Commitment Unfunded Commitment Delta Leasing SPV III, LLC..... Senior Secured Note, DD, 13.00% (due 07/18/2030) $ 991,465 $ — $ (4,592) $11,172,483 $11,172,180 $ 376,858 Delta Financial Holdings LLC....P r eferred Units — — (15) 251,849 251,801 N/A Delta Financial Holdings LLC.... Common Units — — — 574 1,147 N/A Delta Leasing SPV III, LLC..... Common Equity — — 621,513 621,522 18 N/A Senior Credit Corp 2022 LLC.... Senior Unsecured Note, 8.50% (due 12/05/2028) 443,791 — — 6,884,929 6,884,929 1,130,071 Senior Credit Corp 2022 LLC.... Common Stock — 1,001,875 (309,591) 3,110,021 2,950,684 484,316 T o t a l................ $1,435,256 $1,001,875 $ 307,315 $22,041,378 $21,260,759 $1,991,245 6. COMMON STOCK As of September 30, 2025, there were 200 million shares of common stock authorized, of which 130,832,939 shares were issued and outstanding. Pursuant to a prospectus supplement filed with the SEC on December 3, 2024, the Company revised its ATM offeringtosellupto$115millionaggregateamountof itscommonstock,excludinganysharesof commonstock previously sold pursuant to the relevant sales agreement. OnApril11,2025,theCompanyfiledanewshelf registration.Asaresultof thenewregistration,$0.1millionin remaining prepaid expense balance associated with the previous shelf registration was accelerated into expense and reflected in professional fees in the Consolidated Statement of Operations. Pursuant to a prospectus supplement filed with the SEC on April 11, 2025, the Company launched a new ATM offering to sell up to $500 million aggregate amount of its common stock. As a result of the new ATM offering, $35,645 in remaining prepaid expense balance associated with the previous ATM program was accelerated into expense and reflected in professional fees in the Consolidated Statement of Operations. For the nine months ended September 30, 2025, the following was issued in connection with the ATM offerings and DRIP: Amounts in millions except share amounts Security Shares sold Net Proceeds Sales Agent Commissions ATM Offerings Common Stock ................................... 16,561,538 $132.6 $1.8 DRIP Common Stock ................................... 2,430,252 $ 18.2 N/A 40
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) 7. PREFERRED STOCK Asof September30,2025,therewere20millionsharesof preferredstock(the“PreferredStock”)authorized,par value $0.001 per share, of which the following shares were issued and outstanding: Mandatorily Redeemable Preferred Stock Perpetual Preferred Stock Series C Term Preferred Stock Series F Term Preferred Stock Series D Perpetual Preferred Stock Series AA Convertible Perpetual Preferred Stock Series AB Convertible Perpetual Preferred Stock Shares Issued and Outstanding ....... 2,172,553 2,486,244 4,218,232 4,630,283 295,452 Exceptasotherwisestatedinthe1940ActortheCompany’scertificateof incorporation,eachholderof Preferred Stock is entitled to one vote for each share of Preferred Stock held on each matter submitted to a vote of the Company’s stockholders. The Company’s preferred and common stockholders vote together as a single class on all matters submitted to the Company’s stockholders, except that the Company’s preferred stockholders have the righttoelecttwodirectorsatalltimes.Theremainingmembersof theBoardareelectedjointlybytheCompany’s preferred and common stockholders voting as a single class. Mandatorily Redeemable Preferred Stock The Company has accounted for its Term Preferred Stock as a liability under ASC 480 due to their mandatory redemptionrequirements.TheCompanyhasalsoelectedtheFVOunderASC825foreachof itsTermPreferred Stockissuances.Accordingly,theTermPreferredStockarereflectedasaliabilityatfairvalueintheConsolidated Statement of Assets and Liabilities. The following table summarizes certain information as of and for the nine months ended September 30, 2025 pertaining to the Term Preferred Stock: Amounts in millions Change in fair value due to: Security Maturity Date (1) Callable Date(2) Liquidation Preference Fair Value (3) Market Risk(4) Instrument- Specific Credit Risk(5) Series C Term Preferred Stock.... J u n e3 0 , 2031 Callable $ 54.3 $ 51.2 $(2.1) $0.7 Series F Term Preferred Stock.... J a n uary 31, 2029 January 18, 2026 62.2 62.8 (1.3) 0.6 T o t a l.................. $116.5 $114.0 $(3.4) $1.3 (1) ThedatewhichtheCompanyisrequiredtoredeemalloutstandingsharesof theTermPreferredStock,ataredemptionpriceof $25per share (the “Liquidation Preference”), plus accumulated but unpaid dividends, if any. (2) ThedatewhichtheCompanymay,atitssoleoption,redeemtheoutstandingsharesof theTermPreferredStockinwholeorinpartfrom time to time. (3) TheCompanyhaselectedtheFVOunderASC825.Accordingly,theTermPreferredStockaremeasuredatfairvalue.Amountsarenet of issuance premiums/discounts, if any. (4) Amountsarerecordedasunrealized(appreciation)depreciationonliabilitiesatfairvalueundertheFVOontheConsolidatedStatement of Operations. (5) Amountsarerecordedasunrealized(appreciation)depreciationonliabilitiesatfairvalueundertheFVOontheConsolidatedStatement of ComprehensiveIncome.TheCompanydefinesthechangeinfairvalueattributabletoinstrument-specificcreditriskastheexcessof the total change in fair value over the change in fair value attributable to changes in a base market rate, such as a U.S. treasury bond index with a similar maturity to the instrument being valued. Perpetual Preferred Stock The Company has accounted for its Series D Perpetual Preferred Stock and Convertible Perpetual Preferred Stock as temporary equity under ASC 480. Accordingly, the Perpetual Preferred Stock are reflected in the 41
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) Consolidated Statement of Assets and Liabilities at its $25 per share liquidation preference, net of unamortized deferred issuance costs. Thefollowingtablesummarizescertaininformationasof September30,2025pertainingtothePerpetualPreferred Stock: Amounts in millions Security Maturity Date (1) Callable Date(2) Liquidation Preference Deferred Issuance Costs(3) Carrying Value(3) Series D Perpetual Preferred Stock . . . Perpetual Callable $105.5 $(19.5) $ 86.0 Series AA Convertible Perpetual Preferred Stock ............. P erpetual 2 Years After Issuance 115.8 (6.6) 109.2 Series AB Convertible Perpetual Preferred Stock ............. P erpetual 2 Years After Issuance 7.4 (0.2) 7.2 T o t a l .................... $228.7 $(26.3) $202.4 (1) The Perpetual Preferred Stock do not have a stated maturity date. (2) ThedatewhichtheCompanymay,atitsoption,redeemtheoutstandingsharesof thePerpetualPreferredStockinwholeorinpartfrom time to time. At any time on or after two years a share of Convertible Perpetual Preferred Stock has been outstanding, the Company may,atitssoleoption,converttocommonsharesorredeemincashtheoutstandingsharesattheConvertiblePerpetualPreferredStock Liquidation Preference, plus accrued but unpaid dividends. Under a conversion, the conversion price will represent the arithmetic averageof thevolumeweightedaveragepricepershareof theCompany’scommonstockovereachof thefiveconsecutivetradingdays ending on the date of the conversion (the “Conversion Price”). (3) ThePerpetualPreferredStockisrecordednetof deferredissuancecost,whichconsistsof feesandexpensesincurredinconnectionwith theissuanceof thePerpetualPreferredStockandnetof issuancepremiums/(discounts),if any.Deferredissuancecostisamortizedinto expense when it is probable the Perpetual Preferred Stock becomes redeemable in the future. Series AA Convertible Perpetual Preferred Stock shareholders may elect to convert their shares of Convertible PerpetualPreferredStockatanytimebydeliveringtotheCompanyanoticeof conversionsubjecttoaconversion fee of between 0% and 8%. Series AB Convertible Perpetual Preferred Stock shareholders may elect to convert their shares of Convertible PerpetualPreferredStockatanytimebydeliveringtotheCompanyanoticeof conversionsubjecttoaclawback provision of three full months of earned interest in the first year of ownership. For the nine months ended September 30, 2025, 500 shares of Series AA Convertible Perpetual Preferred Stock were converted by shareholders. As a result of the conversions, $11,329 of carrying value was contributed to paid-in-capital and 1,602 common shares were issued. FortheninemonthsendedSeptember30,2025,1,380sharesof SeriesABConvertiblePerpetualPreferredStock were converted by shareholders. As a result of the conversions, $33,526 of carrying value was contributed to paid-in-capital and 4,543 common shares were issued. FortheninemonthsendedSeptember30,2025,1,200sharesof SeriesAAConvertiblePerpetualPreferredStock wereredeemedbyshareholders.Asaresultof theredemption,$30,088inredemptionproceedswerepaidrealizing alossof $1,420reflectedinrealizedgain(loss)onredemptionof 7.00%SeriesAAConvertiblePerpetualPreferred Stock on the Consolidated Statement of Operations. The Company may elect to settle the Convertible Perpetual Preferred Stock stockholder optional conversions in either cash or shares at the Conversion Price. Convertible Perpetual Preferred Stock Offering PursuanttoaprospectussupplementfiledwiththeSEConMarch22,2024,theCompanylaunchedanofferingto sellupto4millionsharesof ConvertiblePerpetualPreferredStockwithanaggregateliquidationpreferenceof up 42
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) to $100 million. Pursuant to a Prospectus Supplement filed on April 18, 2025, the Company launched a new offeringof 5,111,311shares,increasingtheprogramofferingsizetoupto8millionsharesof ConvertiblePerpetual Preferred Stock with an aggregate liquidation preference of up to $200 million, inclusive of amounts previously sold under the program. For the nine months ended September 30, 2025, the Company sold the following in connection with the Convertible Perpetual Preferred Stock Offering: Amounts in millions except share amounts Security Shares sold Net Proceeds Sales Agent Commissions Series AA Convertible Perpetual Preferred Stock............ 3,028,929 $68.8 $6.1 Series AB Convertible Perpetual Preferred Stock............ 187,396 4.5 0.1 T o t a l........................................... $73.3 $6.2 TheCompanyissued3,809sharesof SeriesAAConvertiblePerpetualPreferredStockhavebeenissuedunderthe Company’s Convertible Perpetual Preferred Stock distribution reinvestment plan for total net proceeds to the Company of $90,467. SeeNote2“Summaryof SignificantAccountingPolicies,TemporaryEquity,”foradditionalinformationrelating to the outstanding Perpetual Preferred Stock. ATM Program Pursuant to a prospectus supplement filed with the SEC on September 16, 2024, the Company revised its ATM offering for the amount of Series D Perpetual Preferred Stock to be sold from 1.6 million shares to 4.5 million shares,inclusiveof anysharesof SeriesDPerpetualPreferredStockpreviouslysoldpursuanttotherelevantsales agreement. The Company also maintained its ability to issue 200,000 shares of its Series C Term Preferred Stock and1millionsharesof itsSeriesFTermPreferredStock,inclusiveof sharesof SeriesCTermPreferredStockand Shares of Series F Term Preferred Stock previously sold under the program. Pursuant to a prospectus supplement filed with the SEC on April 11, 2025, the Company launched a new ATM offering to sell up to 927,447 Shares of Series C Term Preferred Stock, 1,681,768 Shares of Series D Preferred Stockand513,756sharesof SeriesFTermPreferredStock,excludingamountssoldunderthepreviousprogram. For the nine months ended September 30, 2025, the Company sold the following in connection with the ATM offerings: Security Shares sold Net Proceeds Sales Agent Commissions Series D Preferred Stock............................. 16,399 $314,811 $6,431 TheCompanymayinthefutureengageabroker-dealertorepurchaseopportunistically,ontheCompany’sbehalf, shares of the Company’s listed Preferred Stock through open market transactions. The price and other terms of any such repurchases will depend on prevailing market conditions, the Company’s liquidity and other factors. Dependingonmarketconditions,theamountof PreferredStockrepurchasesmaybematerialandmaycontinue throughyear-end2025;however,theCompanymayreduceorextendthistimeframeinitsdiscretionandwithout notice. Any Preferred Stock repurchases will comply with the provisions of the 1940 Act and the Securities Exchange Act of 1934. The repurchase of any such Preferred Stock would reduce the Company’s outstanding leverage.TheCompanydidnotrepurchaselistedPreferredStockfortheninemonthsendedSeptember30,2025. 43
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) SeeNote9“AssetCoverage”forfurtherdiscussionontheCompany’scalculationof assetcoveragewithrespectto its Preferred Stock. 8. UNSECURED NOTES The following table summarizes the Unsecured Notes outstanding as of and for the nine months ended September 30, 2025 and certain information associated with such Unsecured Notes: Amounts in millions Change in fair value due to: Security Maturity Date (1) Callable Date(2) Liquidation Preference Fair Value (3) Market Risk(4) Instrument- Specific Credit Risk(5) Series 2028 Notes ........... A pril 30, 2028 Callable $ 32.4 $ 31.9 $ (0.7) $0.4 Series 2029 Notes ........... J a n uary 31, 2029 Callable 93.3 87.6 (3.1) — Series 2030 Notes ........... J u n e3 0 , 2030 June 30, 2027 115.0 115.2 (5.4) 4.0 Series 2031 Notes ........... M a r c h3 1 , 2031 Callable 44.9 42.7 (1.7) 1.1 T o t a l .................. $285.6 $277.4 $(10.9) $5.5 (1) The date which the Company is required to redeem outstanding Unsecured Notes. (2) ThedatewhichtheCompanymay,atitssoleoption,redeemtheoutstandingUnsecuredNotesinwholeorinpartfromtimetotimeat the Company’s option. (3) The Company has elected the FVO under ASC 825. Accordingly, the Unsecured Notes are measured at fair value. (4) Amountsarerecordedasunrealized(appreciation)depreciationonliabilitiesatfairvalueundertheFVOontheConsolidatedStatement of Operations. (5) Amountsarerecordedasunrealized(appreciation)depreciationonliabilitiesatfairvalueundertheFVOontheConsolidatedStatement of ComprehensiveIncome.TheCompanydefinesthechangeinfairvalueattributabletoinstrument-specificcreditriskastheexcessof the total change in fair value over the change in fair value attributable to changes in a base market rate, such as a U.S. Treasury bond index with a similar maturity to the instrument being valued. The Company has in the past engaged and may in the future engage a broker-dealer to repurchase opportunistically, on the Company’s behalf, a portion of the Company’s Unsecured Notes through open market transactions.Thepriceandothertermsof anysuchrepurchaseswilldependonprevailingmarketconditions,the Company’s liquidity and other factors. Depending on market conditions, the amount of Unsecured Note repurchases may be material and may continue through year-end 2025; however, the Company may reduce or extendthistimeframeinitsdiscretionandwithoutnotice.AnyUnsecuredNoterepurchaseswillcomplywiththe provisions of the 1940 Act and the Securities Exchange Act of 1934. Upon repurchase, the Company intends to retire the Unsecured Notes reducing the Company’s outstanding leverage. The Company did not repurchase Unsecured Notes for the nine months ended September 30, 2025. SeeNote9“AssetCoverage”forfurtherdiscussionontheCompany’scalculationof assetcoveragewithrespectto its Unsecured Notes. 9. ASSET COVERAGE Undertheprovisionsof the1940Act,theCompanyispermittedtoissueseniorsecurities,includingdebtsecurities and preferred stock, and borrow from banks or other financial institutions, provided that the Company satisfies certain asset coverage requirements. Withrespecttoseniorsecuritiesthatarestocks,suchasthePreferredStock,theCompanyisrequiredtohaveasset coverage of at least 200%, as measured at the time of issuance of any such senior securities that are stocks and calculated as the ratio of the Company’s total consolidated assets, less all liabilities and indebtedness not 44
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) represented by senior securities, over the aggregate amount of the Company’s outstanding senior securities representingindebtednessplustheaggregateliquidationpreferenceof anyoutstandingsharesof seniorsecurities that are stocks. Withrespecttoseniorsecuritiesrepresentingindebtedness,suchastheUnsecuredNotesoranybankborrowings (otherthantemporaryborrowingsasdefinedunderthe1940Act),theCompanyisrequiredtohaveassetcoverage of at least 300%, as measured at the time of borrowing and calculated as the ratio of the Company’s total consolidated assets, less all liabilities and indebtedness not represented by senior securities, over the aggregate amount of the Company’s outstanding senior securities representing indebtedness. If theCompany’sassetcoveragedeclinesbelow300%(or200%,asapplicable),theCompanywouldbeprohibited underthe1940Actfromincurringadditionaldebtorissuingadditionalpreferredstockandfromdeclaringcertain distributions to its stockholders. In addition, the terms of the Preferred Stock and the Unsecured Notes require theCompanytoredeemsharesof thePreferredStockand/oracertainprincipalamountof theUnsecuredNotes, if such failure to maintain the applicable asset coverage is not cured by a certain date. ThefollowingtablesummarizestheCompany’sassetcoveragewithrespecttoitsPreferredStockandUnsecured Notes, as of September 30, 2025, and as of December 31, 2024: Asset Coverage of Preferred Stock and Debt Securities As of September 30, 2025 As of December 31, 2024 Total assets .............................................. $1,543,738,606 $1,505,444,143 Less liabilities and indebtedness not represented by senior securities ............... (34,457,968) (59,890,659) Net total assets and liabilities.................................... $1,509,280,638 $1,445,553,484 Preferred Stock ............................................ $ 345,069,096 $ 264,232,758 Unsecured Notes . .......................................... 285,523,800 285,523,800 $ 630,592,896 $ 549,756,558 Asset coverage of preferred stock(1) ................................. 239% 263% Asset coverage of debt securities(2) .................................. 529% 506% (1) The asset coverage of preferred stock is calculated in accordance with section 18(h) of the 1940 Act, as generally described above. (2) The asset coverage ratio of debt securities is calculated in accordance with section 18(h) of the 1940 Act, as generally described above. 10. COMMITMENTS AND CONTINGENCIES TheCompanyisnotcurrentlysubjecttoanymateriallegalproceedings.Fromtimetotime,theCompanymaybe a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts. While the outcome of these legal proceedings cannot be predicted with certainty, the Company does not expect these proceedings will have a material effect upon its financial condition or results of operations. As of September 30, 2025, the Company had total unfunded commitments of $40.3 million arising from certain ABS, CFO equity, common stock, loans and notes and rated feeder fund equity investments. 11. INDEMNIFICATIONS Under the Company’s organizational documents, its officers and directors are indemnified against certain liabilitiesarisingoutof theperformanceof theirdutiestotheCompany.Inaddition,duringthenormalcourseof business, the Company enters into contracts containing a variety of representations which provide general 45
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EaglePointCreditCompanyInc.&Subsidiaries Notes to Consolidated Financial Statements September30,2025 (Unaudited) indemnifications. The Company’s maximum exposure under these agreements cannot be known; however, the Company expects any risk of loss to be remote. 12. SUBSEQUENT EVENTS OnOctober31,2025,theCompanypaidamonthlydistributionof $0.14pershareof itscommonstock,amonthly distributionof $0.135417pershareof itsSeriesCTermPreferredStock,amonthlydistributionof $0.140625per shareof itsSeriesDPerpetualPreferredStock,amonthlydistributionof $0.166667pershareof itsSeriesFTerm Preferred Stock, and a monthly distribution of $0.145834 per share of its Convertible Perpetual Preferred Stock to holders of record as of October 14, 2025. For the period from October 1, 2025 to October 31, 2025, the Company sold the following shares of Preferred Stock pursuant Convertible Perpetual Preferred Stock offerings: Amounts in millions except share amounts Security Shares sold Net Proceeds Sales Agent Commissions Series AA Convertible Perpetual Preferred Stock............ 644,882 $14.8 $1.3 Series AB Convertible Perpetual Preferred Stock............ 2,000 0.1 0.0 Total........................................... $14.9 $1.3 Management’sunauditedestimateof therangeof theCompany’sNAVpercommonshareasof October31,2025 was between $6.69 and $6.79. Managementof theCompanyhasevaluatedtheneedfordisclosuresand/oradjustmentsresultingfromsubsequent events through the date of release of this report. Management has determined there are no events in addition to those described above which would require adjustment to or disclosure in the consolidated financial statements and related notes through the date of release of this report. 46
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Financial Highlights (Unaudited) Per Share Data For the nine months ended September 30, 2025 For the year ended December 31, 2024 For the year ended December 31, 2023 For the year ended December 31, 2022 For the year ended December 31, 2021 For the year ended December 31, 2020 Net asset value at beginning of period........... $ 8.38 $ 9.21 $ 9.07 $ 13.39 $ 11.18 $ 10.59 Net investment income(1)(2) ................ 0.74 1.10 1.36 1.53 1.31 1.15 6.75% Series D Perpetual Preferred Stock distributions(2) . . (0.04) (0.04) (0.03) (0.04) — — 7.00% Series AA Convertible Perpetual Preferred Stock distributions and amortization of offering costs(2) .... (0.06) (0.01) ———— 7.00% Series AB Convertible Perpetual Preferred Stock distributions and amortization of offering costs(2) .... (0.00) (0.00) ———— Net realized gain (loss) and change in unrealized appreciation (depreciation) on: Investments, foreign currency and cash equivalents(2)(3) . . . (0.66) (0.31) 0.48 (4.39) 2.65 0.49 Forward currency contracts(2) ............... (0.10) 0.06 (0.02) — — — Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock ..................... — 0.06 (0.02) — — — Net change in unrealized (appreciation) depreciation on liabilities at fair value under the fair value option(2) .... (0.12) 0.06 (0.05) 0.69 (0.02) 0.01 Net income (loss) and net increase (decrease) in net assets resulting from operations(2) ............... (0.24) 0.86 1.74 (2.21) 3.94 1.65 Common stock distributions from net investment income(4) ........................ (1.08) (1.82) (1.86) (2.37) (1.64) (0.26) Common stock distributions from net realized gains on investments(4) ...................... — ————— Common stock distributions from tax return of capital(4) . . (0.18) (0.10) — — — (1.06) Total common stock distributions declared to stockholders(4) ..................... (1.26) (1.92) (1.86) (2.37) (1.64) (1.32) Common stock distributions based on weighted average shares impact(5) ..................... — 0.01 — (0.13) (0.04) 0.02 Total common stock distributions............. (1.26) (1.91) (1.86) (2.50) (1.68) (1.30) Effect of other comprehensive income(2)(6) ......... 0.08 (0.08) (0.09) 0.15 (0.08) 0.05 Effect of paid-in capital contribution(2) ........... — ————— Effect of shares issued(7) .................. 0.06 0.36 0.39 0.32 0.06 0.20 Effect of underwriting discounts, commissions and offering expenses associated with shares issued(7) ......... (0.02) (0.07) (0.06) (0.08) (0.03) (0.02) Effect of shares issued in accordance with the Company’s dividend reinvestment plan ............... — 0.01 0.02 — — 0.01 Net effect of shares issued................. 0.04 0.30 0.35 0.24 0.03 0.19 Net asset value at end of period.............. $ 7.00 $ 8.38 $ 9.21 $ 9.07 $ 13.39 $ 11.18 Per share market value at beginning of period....... $ 8.88 $ 9.50 $ 10.12 $ 14.00 $ 10.09 $ 14.61 Per share market value at end of period.......... $ 6.61 $ 8.88 $ 9.50 $ 10.12 $ 14.00 $ 10.09 Total return(8) ....................... -12.09% 14.66% 18.92% -11.60% 51.60% -19.76% Shares of common stock outstanding at end of period . . . 130,832,939 111,835,004 76,948,138 55,045,981 37,526,810 32,354,890 Ratios and Supplemental Data: Net asset value at end of period.............. $915,454,150 $936,867,759 $708,343,567 $499,265,764 $502,304,335 $361,660,688 Ratio of expenses to average net assets(9)(10) ........ 8.96% 8.58% 8.51% 9.94% 9.71% 10.56% Ratio of net investment income to average net assets(9)(10) . . 13.29% 12.45% 14.73% 13.80% 9.90% 13.44% Portfolio turnover rate(11) ................. 27.33% 37.13% 19.79% 30.19% 51.56% 52.80% Asset coverage of preferred stock............. 239% 263% 371% 286% 313% 354% Asset coverage of debt securities.............. 529% 506% 551% 423% 534% 534% See accompanying footnotes to the financial highlights on the following page. 47
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Financial Highlights (Unaudited) Per Share Data For the year ended December 31, 2019 For the year ended December 31, 2018 For the year ended December 31, 2017 For the year ended December 31, 2016 For the year ended December 31, 2015 Net asset value at beginning of period........... $ 12.40 $ 16.77 $ 17.48 $ 13.72 $ 19.08 Net investment income(1)(2) ................ 1.34 1.59 1.88 2.14 1.89 6.75% Series D Perpetual Preferred Stock distributions(2) . . ————— 7.00% Series AA Convertible Perpetual Preferred Stock distributions and amortization of offering costs(2) .... — ———— 7.00% Series AB Convertible Perpetual Preferred Stock distributions and amortization of offering costs(2) .... — ———— Net realized gain (loss) and change in unrealized appreciation (depreciation) on: Investments, foreign currency and cash equivalents(2)(3) . . . (1.29) (3.92) (0.12) 3.88 (4.85) Forward currency contracts(2) ............... — ———— Redemption of 7.00% Series AA Convertible Perpetual Preferred Stock ..................... — ———— Net change in unrealized (appreciation) depreciation on liabilities at fair value under the fair value option(2) .... (0.08) 0.06 — — — Net income (loss) and net increase (decrease) in net assets resulting from operations(2) ............... (0.03) (2.27) 1.76 6.02 (2.96) Common stock distributions from net investment income(4) ........................ (1.40) (1.51) (2.60) (2.40) (1.53) Common stock distributions from net realized gains on investments(4) ...................... — ———— Common stock distributions from tax return of capital(4) . . (1.00) (0.89) (0.05) — (0.87) Total common stock distributions declared to stockholders(4) ..................... (2.40) (2.40) (2.65) (2.40) (2.40) Common stock distributions based on weighted average shares impact(5) ..................... — 0.01 — — — Total common stock distributions............. (2.40) (2.39) (2.65) (2.40) (2.40) Effect of other comprehensive income(2)(6) ......... (0.10) 0.06 — — — Effect of paid-in capital contribution(2) ........... — 0.06 — — — Effect of shares issued(7) .................. 0.77 0.29 0.27 0.18 — Effect of underwriting discounts, commissions and offering expenses associated with shares issued(7) ......... (0.07) (0.12) (0.11) (0.04) — Effect of shares issued in accordance with the Company’s dividend reinvestment plan ............... 0.02 — 0.02 — — Net effect of shares issued................. 0.72 0.17 0.18 0.14 — Net asset value at end of period.............. $ 10.59 $ 12.40 $ 16.77 $ 17.48 $ 13.72 Per share market value at beginning of period....... $ 14.21 $ 18.81 $ 16.71 $ 16.43 $ 20.10 Per share market value at end of period.......... $ 14.61 $ 14.21 $ 18.81 $ 16.71 $ 16.43 Total return(8) ....................... 20.15% -13.33% 29.45% 17.42% -8.12% Shares of common stock outstanding at end of period . . . 28,632,119 23,153,319 18,798,815 16,474,879 13,820,110 Ratios and Supplemental Data: Net asset value at end of period.............. $303,272,860 $287,127,842 $315,256,439 $288,047,335 $189,607,085 Ratio of expenses to average net assets(9)(10) ........ 10.00% 9.85% 10.43% 10.69% 6.73% Ratio of net investment income to average net assets(9)(10) . . 10.64% 9.76% 10.77% 13.72% 10.78% Portfolio turnover rate(11) ................. 34.83% 40.91% 41.16% 55.32% 39.07% Asset coverage of preferred stock............. 279% 246% 268% 286% 365% Asset coverage of debt securities.............. 476% 477% 537% 722% 1028% See accompanying footnotes to the financial highlights on the following page. 48
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EaglePointCreditCompanyInc.&Subsidiaries Consolidated Financial Highlights (Unaudited) Footnotes to the Financial Highlights: (1) Per share distributions paid to Series A Term Preferred Stock, Series B Term Preferred Stock, Series C Term Preferred Stock preferred stockholdersandSeriesFTermPreferredStock,andtheaggregateamountof amortizeddeferredissuancecostsandshareissuancepremiums associatedwiththeSeriesATermPreferredStock,SeriesBTermPreferredStock,SeriesCTermPreferredStockandSeriesFTermPreferred Stock are reflected in net investment income, and totaled ($0.05) and ($0.00) per share of common stock, respectively, for the nine months ended September 30, 2025, ($0.08) and ($0.00) per share of common stock, respectively, for the year ended December 31, 2024, ($0.05) and ($0.00) per share of common stock, respectively, for the year ended December 31, 2023, ($0.08) and ($0.00) per share of common stock, respectively, for the year ended December 31, 2022, ($0.16) and ($0.01) per share of common stock, respectively, for the year ended December 31, 2021, ($0.12) and ($0.01) per share of common stock, respectively, for the year ended December 31, 2020, ($0.25) and ($0.02) pershareof commonstock,respectively,fortheyearendedDecember31,2019,($0.33)and($0.02)pershareof commonstock,respectively, for the year ended December 31, 2018, ($0.40) and ($0.02) per share of common stock, respectively, for the year ended December 31, 2017, ($0.28) and ($0.02) per share of common stock, respectively, for the year ended December 31, 2016, and ($0.16) and ($0.01) per share of common stock, respectively, for the year ended December 31, 2015. (2) Per share amounts are based on weighted average of shares of common stock outstanding for the period. (3) Netrealizedgain(loss)andchangeinunrealizedappreciation(depreciation)oninvestments,foreigncurrencyandcashequivalentsincludesa balancingfiguretoreconciletothechangeinnetassetvalue(“NAV”)pershareattheendof eachperiod.Theamountpersharemaynotagree withthechangeintheaggregatenetrealizedgain(loss)andchangeinunrealizedappreciation(depreciation)oninvestments,foreigncurrency andcashequivalentsfortheperiodbecauseof thetimingof issuanceof theCompany’scommonstockinrelationtofluctuatingmarketvalues for the portfolio. (4) The information provided is based on estimates available at each respective period. The Company’s final taxable income and the actual amount required to be distributed will be finally determined when the Company files its final tax returns and may vary from these estimates. TheyearendedDecember31,2022includesaspecialdistributionof $0.50pershareof commonstockpaidonJanuary24,2023tostockholders of recordonDecember23,2022.TheyearendedDecember31,2021includesaspecialdistributionof $0.50pershareof commonstockpaid on January 24, 2022 to stockholders of record on December 23, 2021. (5) Representsthedifferencebetweenthepershareamountdistributedtocommonstockholdersof recordandthepershareamountdistributed based on the weighted average of shares of common stock outstanding for the period. (6) Effectof othercomprehensiveincomeisrelatedtoincome/(loss)deemedattributabletoinstrumentspecificcreditriskderivedfromchangesin fair value associated with liabilities valued under the fair value option (ASC 825.) (7) Representstheeffectpershareof theCompany’sATMofferings,follow-onofferingsandinitialpublicoffering.Effectof sharesissuedreflect the excess of offering price over management’s estimated NAV per share at the time of each respective offering. (8) Total return based on market value is calculated assuming shares of the Company’s common stock were purchased at the market price as of the beginning of the period, and distributions paid to common stockholders during the period were reinvested at prices obtained by the Company’s dividend reinvestment plan, and the total number of shares were sold at the closing market price per share on the last day of the period. Total return does not reflect any sales load. Total return for the nine months ended September 30, 2025 is not annualized. (9) Ratios for the nine months ended September 30, 2025 are annualized. Ratios for the years ended December 31, 2022, December 31, 2021, December31,2020,December31,2019andDecember31,2018reflecttheportionof incentivefeevoluntarilywaivedbytheAdviserof 0.06%, 0.03%, 0.06%, 0.03% and 0.09% of average net assets, respectively. Ratios for the years ended December 31, 2024, December 31, 2022, December31,2021andDecember31,2016includeexcisetaxof 0.03%,0.41%,0.49%and0.26%of averagenetassets,respectively.Ratiosfor the year ended December 31, 2023 include excise tax refund of -0.12%. (10) Ratios for the nine months ended September 30, 2025 are annualized. Ratios for the nine months ended September 30, 2025 and the years endedDecember31,2024,December31,2023,December31,2022,December31,2021,December31,2020,December31,2019,December31, 2018, December 31, 2017, December 31, 2016, and December 31, 2015 include interest expense on the Company’s Series A Term Preferred Stock, Series B Term Preferred Stock, Series C Term Preferred Stock, Series F Term Preferred Stock and the Unsecured Notes of 2.24%, 2.15%, 2.28%, 2.83%, 3.24%, 3.97%, 4.18%, 4.16%, 4.20%, 3.47% and 1.04% of average net assets, respectively. Ratios do not include distributionandamortizationof offeringcostontheSeriesDPerpetualPreferredStock,SeriesAAConvertiblePerpetualPreferredStockand Series AB Convertible Perpetual Preferred Stock for the nine months ended September 30, 2025 and the years ended December 31, 2024, December31,2023,December31,2022andDecember31,2021of 1.98%,0.61%.0.31%,0.37%and0.03%,respectively,of averagenetassets. (11) The portfolio turnover rate is calculated as the lesser of total investment purchases executed during the period or the total investment sales executed during the period and repayments of principal, divided by the average fair value of investments for the same period. 49
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EaglePointCreditCompanyInc.&Subsidiaries Supplemental Information (Unaudited) Senior Securities Table InformationabouttheCompany’sseniorsecuritiesshowninthefollowingtablehasbeenderivedfromtheCompany’s consolidated financial statements as of and for the dates noted. Class Total Amount Outstanding Exclusive of Treasury Securities Asset Coverage Per Unit(1) Involuntary Liquidating Preference Per Unit(2) Average Market Value Per Unit(3) For the nine months ended September 30, 2025 Preferred Stock $345,069,096 $ 59.84 $25 $22.75 Unsecured Notes $285,523,800 $ 5,286.01 N/A $24.05 For the year ended December 31, 2024 Preferred Stock $264,232,758 $ 65.74 $25 $22.51 Unsecured Notes $285,523,800 $ 5,062.81 N/A $23.50 For the year ended December 31, 2023 Preferred Stock $ 83,223,700 $ 92.65 $25 $21.04 Unsecured Notes $170,523,800 $ 5,514.93 N/A $22.51 For the year ended December 31, 2022 Preferred Stock $ 81,587,250 $ 71.47 $25 $23.25 Unsecured Notes $170,523,800 $ 4,226.70 N/A $23.67 For the year ended December 31, 2021 Preferred Stock $ 98,130,500 $ 78.16 $25 $25.48 Unsecured Notes $138,584,775 $ 5,339.86 N/A $25.58 For the year ended December 31, 2020 Preferred Stock $ 47,862,425 $ 88.39 $25 $24.25 Unsecured Notes $ 93,734,775 $ 5,340.98 N/A $23.93 For the year ended December 31, 2019 Preferred Stock $ 69,843,150 $ 69.71 $25 $26.04 Unsecured Notes $ 98,902,675 $ 4,757.42 N/A $25.47 For the year ended December 31, 2018 Preferred Stock $ 92,568,150 $ 61.55 $25 $25.78 Unsecured Notes $ 98,902,675 $ 4,766.23 N/A $25.08 For the year ended December 31, 2017 Preferred Stock $ 92,139,600 $ 66.97 $25 $25.75 Unsecured Notes $ 91,623,750 $ 5,372.28 N/A $25.96 For the year ended December 31, 2016 Preferred Stock $ 91,450,000 $ 71.53 $25 $25.41 Unsecured Notes $ 59,998,750 $ 7,221.89 N/A $25.29 For the year ended December 31, 2015 Preferred Stock $ 45,450,000 $ 91.16 $25 $25.43 Unsecured Notes $ 25,000,000 $10,275.46 N/A $24.52 (1) Theassetcoverageperunitfigureistheratioof theCompany’stotalconsolidatedassets,lessallliabilitiesandindebtednessnotrepresentedby seniorsecurities,totheaggregatedollaramountof outstandingapplicableseniorsecurities,ascalculatedseparatelyforeachof thePreferred Stock and the Unsecured Notes in accordance with section 18(h) of the 1940 Act. With respect to the Preferred Stock, the asset coverage per unit figure is expressed in terms of dollar amounts per share of outstanding preferred stock (based on a per share liquidation preference of $25.) With respect to the Unsecured Notes, the asset coverage per unit figure is expressed in terms of dollar amounts per $1,000 principal amount of such notes. 50
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EaglePointCreditCompanyInc.&Subsidiaries Supplemental Information (Unaudited) (2) The involuntary liquidating preference per unit is the amount to which a share of Preferred Stock would be entitled in preference to any security junior to it upon our involuntary liquidation. (3) Theaveragemarketvalueperunitiscalculatedbytakingtheaverageof theclosingprice(or$25principalvalueforunlistedsecurities)foreach of (a) a share of the Preferred Stock (NYSE: ECCA, ECCB, ECCC, ECCF, ECC PRD; Unlisted: ECC AA, ECC AB) and (b) for each $25 principalamountof theUnsecuredNotes(NYSE:ECCU,ECCV,ECCW,ECCX,ECCY,ECCZ)foreachdayduringtheyearsforwhicheach applicable security was outstanding. A $25 market value was assumed for unlisted securities. 51
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Eagle Point Credit Company Inc. Investment AdviserEagle Point Credit Company Inc. Investment Adviser 600 Steamboat Road, Suite 202 Eagle Point Credit Management LLCEagle Point Credit Management LLC Greenwich, CT 06830 600 Steamboat Road, Suite 202 (203) 340 8500 Greenwich, CT 06830 Transfer Agent, Registrar, Dividend Disbursement and Stockholder ServicingTransfer Agent, Registrar, Dividend Disbursement and Stockholder Servicing Agent for Common Stock and Series C, Series D and Series F Preferred StockAgent for Common Stock and Series C, Series D and Series F Preferred Stock Equiniti Trust Company, LLCEquiniti Trust Company, LLC P.O. Box 500 Newark, NJ 07101 (800) 937 5449 Transfer Agent, Registrar, Dividend Disbursement and Stockholder ServicingTransfer Agent, Registrar, Dividend Disbursement and Stockholder Servicing Agent for Series AA and Series AB Convertible Perpetual Preferred StockAgent for Series AA and Series AB Convertible Perpetual Preferred Stock Computershare Trust Company, N.A.Computershare Trust Company, N.A. 28 Liberty Street, 53rd Floor New York, NY 10005 (800) 373 6374 www.eaglepointcreditcompany.comwww.eaglepointcreditcompany.com © Eagle Point Credit Company Inc. All rights reserved. Eagle Point and Eagle Point Credit are registered trademarks of Eagle Point Credit Management LLC.