January 15, 2021 -- Dynex Capital, Inc. (NYSE: DX) (the “Company”) announced today that it intends to redeem all, approximately 2.8 million shares, of its outstanding Series B Cumulative Redeemable Preferred Stock (NYSE: DXPRB) (the “Series B Preferred Stock”) on February 15, 2021. The Series B Preferred Stock will be redeemed for $25 per share, plus $0.1535590 per share in accumulated and unpaid dividends, for an aggregate redemption price of $25.1535590 per share. Feb 14, 2020 -- Dynex Capital, Inc. announced today that it intends to redeem approximately 38% or 1.7 million shares, of its outstanding Series B Cumulative Redeemable Preferred Stock (NYSE: DX-B) on March 16, 2020. The Series B Preferred Stock will be redeemed at a price of $25 per share, plus $0.3177083 in accumulated and unpaid dividends, for an aggregate redemption price of $25.3177083 per share. Because less than all the outstanding shares of the Series B Preferred Stock will be redeemed, the Series B Preferred Stock will be redeemed on a pro rata basis and fractional shares, if any, will be redeemed for cash.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Dynex Capital, Inc., 7.625% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 4/30/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.625% per annum ($1.90625 per annum or $0.4765625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first calendar day of the month in which the payment is due (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will not have the following conversion right. Upon the occurrence of a change of control, and the company has not provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	7.63% $1.91	$25.00 $25.00	Called for 2/15/2021 None	WR NF 8/21/2020	1/15, 4/15, 7/15 & 10/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

Company's Online Information Links

HOME PAGE:     http://www.dynexcapital.com
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Online Company Profile	Go to Online Profile

Company's Online SEC EDGAR Filings

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Company's Email Address Links

Email Address	askdx@dynexcapital.com
Email Request Form on Website	Go to Email Form

Address and Phone Numbers

Address:   4991 Lake Brook Drive, Suite 100, Glen Allen, VA 23060
Main Phone Number	804-217-5800
Fax Number	804-217-5860
Investor Relations   Alison G. Griffin	804-217-5897
Toll Free Phone Number	Unknown

CEO - Byron L. Boston

CFO - Stephen J. Benedetti