請沿着穿孔線分開，並用所提供的信封郵寄。 (續) 委託書 阿靈頓資產投資公司 股東特別大會 2023年12月12日東部時間上午9：00 本委託書是代表阿靈頓資產投資公司董事會徵集的。 以下籤署人任命(S)J.Rock Tonkel，Jr.和Richard E.Konzmann，或他們中的任何一人作為代理人，各自具有充分的替代和撤銷權，特此授權(S)他們和他們每人，如本投票背面指定的那樣，代表並投票表決阿靈頓資產投資公司A類普通股的全部股份，每股面值0.01美元。簽名人有權在將於美國東部時間2023年12月12日上午9點舉行的股東特別大會(“阿靈頓特別會議”)上投票。以及其任何延期或延期，授權 真實和合法的受權人酌情就阿靈頓特別會議或其任何延期或延期可能適當提出的其他事項進行投票，並撤銷迄今給予的任何代表。以下籤署人 確認(S)已收到股東特別大會通知及隨附的委託書/招股説明書。 阿靈頓特別大會將於網上舉行。要參加阿靈頓特別會議，您必須在美國東部時間2023年12月9日晚上11：59之前在https://www.viewproxy.com/AAICSM/2023/註冊。在阿靈頓特別 會議當天，如果您已正確註冊，您可以通過點擊註冊確認書中提供的鏈接和通過電子郵件收到的 密碼來進入阿靈頓特別會議。 此代理在正確執行後，將按此處指示的方式進行投票。如果沒有做出這樣的指示，該代表將被投票支持阿靈頓合併提案、阿靈頓非約束性薪酬諮詢提案和阿靈頓休會提案。董事會建議對阿靈頓合併提案、阿靈頓非約束性薪酬諮詢提案和阿靈頓休會提案進行投票。 有關提供特別會議代理材料的重要通知： 股東特別大會通知和委託書/招股説明書 可在以下網址查閲：https://www.viewproxy.com/AAICSM/2023

PLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED. DO NOT PRINT IN THIS AREA (Shareholder Name & Address Data) The Board of Directors recommends a vote “FOR” the following proposals: Proposal 1. A proposal (the “Arlington Merger Proposal”) to approve the terms of the Agreement and Plan of Merger, dated as of May 29, 2023, by and among Arlington Asset Investment Corp., a Virginia corporation (“Arlington”), Ellington Financial Inc., a Delaware corporation (“EFC”), EF Merger Sub Inc., a Virginia corporation and a direct wholly owned subsidiary of EFC (“Merger Sub”), and, solely for the limited purposes set forth therein, Ellington Financial Management LLC, a Delaware limited liability company and the external manager of EFC, including the related plan of merger and as amended from time to time, which, among other things, provides for the merger of Arlington with and into Merger Sub (the “Merger”), with Merger Sub continuing as the surviving corporation of the Merger; Address Change/Comments: (If you noted any Address Changes and/or Comments above, please mark box.) ☐ VIRTUAL CONTROL NUMBER FOR ☐ AGAINST ☐ ABSTAIN ☐ Proposal 2. A non-binding advisory proposal to approve the compensation that may be paid or become payable to Arlington’s named executive officers that is based on or otherwise relates to the Merger (the “Arlington Non-Binding Compensation Advisory Proposal”); and FOR ☐ AGAINST ☐ ABSTAIN ☐ Proposal 3. A proposal to approve the adjournment of the Arlington special meeting, if necessary or appropriate, for the purpose of soliciting additional proxies for the approval of the Arlington Merger Proposal (the “Arlington Adjournment Proposal”). FOR ☐ AGAINST ☐ ABSTAIN ☐ Note: This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board of Directors’ recommendations. To the maximum extent permitted by applicable law, the proxies, in their discretion, are authorized to vote and otherwise represent the undersigned on such other matters as may properly come before the Arlington special meeting or at any postponement or adjournment thereof. Date Signature Signature (if held jointly) NOTE: This proxy should be marked, dated, and signed by each shareholder exactly as such shareholder’s name appears hereon, and returned promptly in the enclosed envelope. When shares are held jointly, each holder should sign. When signing as an executor, administrator, attorney, trustee, or guardian, please give full title as such. If the signatory is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If the signatory is a partnership, please sign in the partnership name by authorized person. As a shareholder of Arlington, you have the option of voting your shares electronically through the Internet or by telephone, eliminating the need to return the proxy card. Your electronic vote authorizes the named proxies to vote your shares in the same manner as if you marked, signed, dated, and returned the proxy card. As a Registered Holder, you may vote your shares at the Arlington special meeting by first registering at https://www.viewproxy.com/AAICSM/2023/ using your Virtual Control Number below. Your registration must be received by 11:59 p.m., Eastern Time, on December 9, 2023. On the day of the Arlington special meeting, if you have properly registered you may log in to the Arlington special meeting by clicking on the link provided and the password you received via email in your registration confirmation and follow instructions to vote your shares. Please have your Virtual Control Number with you during the Arlington special meeting in order to vote. VIRTUAL CONTROL NUMBER PROXY VOTING INSTRUCTIONS Please have your 11-digit Virtual Control Number ready when voting by Internet or Telephone or when voting during the Arlington special meeting. INTERNET TELEPHONE MAIL Vote Your Proxy on the Internet: Go to www.AALvote.com/AAICSM Vote Your Proxy by Phone: Call 1 (866) 804-9616 Use any touch-tone telephone to vote your proxy. Have your proxy card available when you call. Follow the voting instructions to vote your shares. Vote Your Proxy by Mail: Mark, sign, and date your proxy card, then detach it and return it in the postage-paid envelope provided. Have your proxy card available when you access the above website. Follow the prompts to vote your shares. Please mark your votes like this