Ellington Financial LLC Reports Estimated Book Value Per Share as of December 31, 2018

OLD GREENWICH, Conn.–(BUSINESS WIRE)–Ellington Financial LLC (NYSE: EFC) (“Ellington Financial” or the
“Company”) today announced that its estimated book value per share as of
December 31, 2018 was $18.95. Estimated book value per share takes into
account a $0.32 per share reduction caused by the redemption of
convertible securities that the Company had previously issued under its
equity incentive plans, in exchange for the distribution of equivalent
securities issued by the Company’s operating partnership. As a result of
this redemption and distribution of convertible securities, which were
made in connection with the Company’s expectation to convert to a REIT,
the Company’s book value per share and diluted book value per share are
now equal. Estimated book value per share is subject to change upon
completion of the Company’s month-end valuation procedures relating to
its investment positions, and any such change could be material. There
can be no assurance that the Company’s estimated book value per share as
of December 31, 2018 is indicative of what the Company’s results are
likely to be for the three month period or year ending December 31, 2018
or in future periods, and the Company undertakes no obligation to update
or revise its estimated book value per share prior to issuance of
financial statements for such periods.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
numerous risks and uncertainties. Our actual results may differ from our
beliefs, expectations, estimates, and projections and, consequently, you
should not rely on these forward-looking statements as predictions of
future events. Forward-looking statements are not historical in nature
and can be identified by words such as “anticipate,” “estimate,” “will,”
“should,” “may,” “expect,” “project,” “believe,” “intend,” “seek,”
“plan” and similar expressions or their negative forms, or by references
to strategy, plans, or intentions. The Company’s results can fluctuate
from month to month depending on a variety of factors, some of which are
beyond the Company’s control and/or are difficult to predict, including,
without limitation, changes in interest rates, changes in mortgage
default rates and prepayment rates, and other changes in market
conditions and economic trends. Furthermore, forward-looking statements
are subject to risks and uncertainties, including, among other things,
those described under Item 1A of our Annual Report on Form 10-K filed on
March 15, 2018, which can be accessed through the link to our SEC
filings under “For Our Shareholders” on our website (
www.ellingtonfinancial.com)
or at the SEC’s website (
www.sec.gov).
Other risks, uncertainties, and factors that could cause actual results
to differ materially from those projected may be described from time to
time in reports we file with the SEC, including reports on Forms 10-Q,
10-K and 8-K. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.

This release and the information contained herein do not constitute an
offer of any securities or solicitation of an offer to purchase
securities.

About Ellington Financial LLC

Ellington Financial LLC is a specialty finance company that invests in a
diverse array of financial assets, including residential and commercial
mortgage-backed securities, residential and commercial mortgage loans,
consumer loans and asset-backed securities backed by consumer loans,
collateralized loan obligations, corporate equity and debt securities
(including distressed debt), non-mortgage and mortgage-related
derivatives, equity investments in mortgage-related entities, and other
strategic investments. Ellington Financial LLC is externally managed and
advised by Ellington Financial Management LLC, an affiliate of Ellington
Management Group, L.L.C.

Contacts

Investors:
Investor Relations
Ellington Financial LLC,
203-409-3575
info@ellingtonfinancial.com;

Media:
Gasthalter & Co., for Ellington Financial LLC
Amanda
Klein or Kevin FitzGerald, 212-257-4170
ellington@gasthalter.com.