Angel Oak Financial Strategies Income Term Trust Issues Mandatorily Redeemable Preferred Shares and New Notes and Sets Record Date and Date for Annual Meeting of Shareholders

Angel Oak Financial Strategies Income Term Trust Issues Mandatorily Redeemable Preferred Shares and New Notes and Sets Record Date and Date for Annual Meeting of Shareholders

Angel Oak Financial Strategies Income Term Trust (NYSE – FINS) (the “Fund”) has closed a $50 million private offering of Series A Mandatorily Redeemable Preferred Shares, due April 30, 2031 (the “MRPS”). The MRPS are rated A3 by Moody’s Investors Service, Inc.

Net proceeds from the offering of the MRPS will be used primarily to refinance the Fund's existing debt and to make new portfolio investments.

In addition, the Fund has entered into a Notes Purchase Agreement in connection with a private offering of $40 million of Series C Senior Notes, due July 8, 2030 (“Series C Notes”). The Series C Notes are rated A1 by Moody’s Investors Service, Inc.

Net proceeds from the offering of the Series C Notes will be used to redeem the Fund’s 2.35% Series A Senior Notes, which mature July 8, 2026, in accordance with their terms.