On June 23, 2021, in connection with the previously disclosed sale of Ellington Residential Mortgage REIT (the “Company”) common shares by Blackstone Tactical Opportunities EARN Holdings L.L.C. (the “Blackstone Holder”) which closed on June 17, 2021, C.C. Melvin Ike informed the Company of his decision to resign as a member of the Board of Trustees (the “Board”). Mr. Ike’s resignation was submitted in accordance with the shareholders agreement between the Company and the Blackstone Holder, among others (the “Shareholders Agreement”).