Eagle Point Credit Company Inc. (NYSE:ECC) (NYSE:ECCA) (the “Company”) today announced net income for the quarter ended June 30, 2015 and net asset value as of June 30, 2015 in addition to certain portfolio activity through August 21, 2015.

SECOND QUARTER HIGHLIGHTS

For the quarter ended June 30, 2015, the Company had net income of $6.4 million, or $0.46 per share of common stock. The net asset value (“NAV”) of the Company as of June 30, 2015 was $257.2 million, or $18.62 per share of common stock.

The Company’s net income of $6.4 million was comprised of total investment income of $10.2 million and a net gain on investments of $0.1 million, offset by total expenses of ($3.9) million. Expenses include ($0.5) million of interest expense related to the Company’s recently issued Series A Term Preferred Stock.

During the quarter, the Company received $20.1 million of cash flow from its investment portfolio, or $1.46 per share of common stock.

During the second quarter, the Company invested in 5 collateralized loan obligation (“CLO”) equity positions, 2 new loan accumulation facility investments and additional follow-on loan accumulation facility investments. The total amount of net capital invested in the period was $25.1 million. The Company also purchased several small CLO debt positions, in each case in conjunction with a CLO equity purchase. 3 loan accumulation facilities were monetized as their associated CLOs priced and closed.

As of June 30, 2015, the weighted average effective yield on the Company’s CLO equity portfolio was 16.47%. The weighted average effective yield of these CLO equity investments includes a provision for credit losses.

The closing price per share of the Company’s common stock on June 30, 2015 was $20.23, representing an 8.65% premium to net asset value as of such date.

As of June 30, 2015 on a look-through basis, the Company had exposure to approximately 1,048 unique corporate obligors. The largest look-through obligor represented 0.87% of the Company’s CLO equity and loan accumulation facility portfolio. The top-ten largest look-through obligors represented 6.74% of the Company’s CLO equity and loan accumulation facility portfolio.

ADDITIONAL INFORMATION

The Company has made available on its website, http://eaglepointcreditcompany.com (in the portfolio overview section), its Semiannual Report, which includes the Company’s unaudited financial statements as of and for the period ended June 30, 2015. The Company has also published an investor presentation which has additional information about the Company and its portfolio as of and for the quarter ended June 30, 2015. In addition, the Company makes monthly unaudited management estimates of the Company’s net asset value available on its website.

THIRD QUARTER PORTFOLIO ACTIVITY THROUGH AUGUST 21, 2015

Since June 30, 2015, the Company has received cash distributions on its investment portfolio totaling $14.6 million, or $1.06 per share of common stock.

As of August 21, 2015, the Company has fully deployed the net proceeds from its previous offering of Series A Term Preferred Stock and, as a result, expects net investment income to grow compared to the quarter ended June 30, 2015, under current market conditions. The Company has made 1 new CLO equity investment, 3 new loan accumulation facility investments and additional follow-on loan accumulation facility investments during the third quarter.

DISTRIBUTIONS

The Company paid a distribution of $0.60 per share of common stock for the quarter ended June 30, 2015 on July 31, 2015. The distribution represented approximately a 12% annualized rate, based on the Company’s initial public offering (“IPO”) price of $20. The Company intends to pay a quarterly distribution on its shares of common stock for the third quarter of 2015, which the Company expects to declare within the next two weeks. The Company expects the distribution to be in line with its prior distributions of 12% per annum of the IPO price.

The Company paid a distribution of $0.161459 per share of the Series A Term Preferred Stock (NYSE: ECCA) on July 31, 2015, for stockholders of record on July 15, 2015. The distribution represented a 7.75% annualized rate, based on the Company’s $25 liquidation preference per share. Additionally and as previously disclosed, the Company declared distributions of $0.161459 per share on its Series A Term Preferred Stock, payable on each of August 31, 2015 and September 30, 2015, for stockholders of record on August 17, 2015 and September 15, 2015, respectively.

CONFERENCE CALLS

As previously disclosed, the Company will host a conference call at 11:00 a.m. (Eastern Time) on Wednesday, August 26, 2015 to discuss the quarterly financial results and portfolio update. All interested parties may participate in the conference call by dialing (877) 201-0168 (domestic) or (647) 788-4901(international), and entering Conference ID 90753651 approximately 10 to 15 minutes prior to the call. An archived replay of the call will be available shortly after the call until September 26, 2015. To hear the replay, please dial (855) 859-2056 (domestic) or (404) 537-3406 (international). For the replay, enter conference ID 90753651.

In addition, the Company plans to arrange a conference call in early September to provide an overview of the potential tax treatment of a CLO equity investment. Details of the call will follow shortly.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a non-diversified, closed-end management investment company. The Company’s investment objective is to generate high current income and capital appreciation primarily through investment in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC. The principals of Eagle Point Credit Management LLC are Thomas P. Majewski, Daniel W. Ko and Daniel M. Spinner. The Company makes certain unaudited portfolio information is available on its website on a monthly basis as well as certain other unaudited financial information (www.eaglepointcreditcompany.com).

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company’s other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Source: Eagle Point Credit Company Inc.

Investor Relations:Eagle Point Credit Company Inc.Kenneth P. Onorio, 203-340-8500Chief Financial OfficerIR@EaglePointCredit.com

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