At the Effective Time, and pursuant to the Merger Agreement, the MITT board of directors increased the total number of directors from six to eight and appointed each of M. Christian Mitchell and Lisa G. Quateman to serve as directors on the MITT board of directors until MITT?s 2024 annual meeting of stockholders and until their respective successors are duly elected and qualified, or until their earlier death, resignation or removal. MITT has further agreed to nominate each of Mr. Mitchell and Ms. Quateman to the MITT board of directors at MITT?s 2024 annual meeting of stockholders. The MITT board of directors has determined that each of Mr. Mitchell and Ms. Quateman are independent under the applicable NYSE rules.

Pursuant to the Merger Agreement, on the Closing Date, each of Mr. Mitchell and Ms. Quateman was granted an award of 12,981 restricted stock units under the AG Mortgage Investment Trust, Inc. 2020 Equity Incentive Plan to replace their 2023 WMC Director Awards. Such restricted stock units will vest on June 23, 2024, subject to Mr. Mitchell?s and Ms. Quateman?s, as applicable, continued service on the MITT board of directors, and will be settled upon Mr. Mitchell?s and Ms. Quateman?s, as applicable, separation of service from MITT. Mr. Mitchell and Ms. Quateman, in their capacity as non-employee MITT directors, will be entitled to receive compensation pursuant to MITT?s non-employee director compensation program as disclosed in MITT?s definitive proxy statement filed with the SEC on March 22, 2023.