Angel Oak Financial Strategies Income Term Trust Announces Certified Results from 2025 Annual Meeting of Shareholders

Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) (the "Fund") has announced the final certified voting results from the 2025 Annual Meeting of Shareholders held on June 26, 2025 (the "Annual Meeting").

Proposal 1: Approval of New Investment Advisory Agreement

Proposal 2: Election of Trustees

Proposal 3: Ratification of Auditor

A total of 25,062,638.4 shares were entitled to vote as of the record date of April 16, 2025, out of which 17,970,576 were present at the Annual Meeting. Despite the strong support, neither the new investment advisory agreement nor the Trustees received enough votes to pass the required vote thresholds. In the coming months, FINS will communicate with shareholders regarding a special shareholder meeting after accounting for the results from the Annual Meeting. In addition, FINS will continue engaging with shareholders as it evaluates several shareholder-friendly enhancements for the Fund.

FINS appreciates its shareholders' continued support of the Fund and of Angel Oak Capital Advisors, LLC, the Fund's adviser ("Angel Oak"). Angel Oak has successfully managed FINS since its inception in 2019. FINS has focused on enhancing long-term shareholder value with proactive actions aimed at improving liquidity, efficiency, and performance. Shareholders most recently demonstrated their support of FINS' performance through significant oversubscription in its recent rights offering in May 2025.

The final voting results have been certified by First Coast Results, Inc., the independent Inspector of Election, and will be included in FINS' next semi-annual or annual report to shareholders, as applicable.

ABOUT FINS

Led by Angel Oak's experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS' portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak.

ABOUT ANGEL OAK CAPITAL ADVISORS, LLC

Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.

On April 1, 2025, Angel Oak Companies, LP, the parent of Angel Oak Asset Management Holdings, LLC, itself the parent company of Angel Oak, announced that it signed a definitive agreement pursuant to which Brookfield Asset Management Ltd. will acquire a majority interest in Angel Oak Companies, LP and its subsidiaries, including Angel Oak (the "Transaction"). The closing of the Transaction is expected to be completed by September 30, 2025. The Transaction is not expected to result in any material change in the day-to-day management of the Fund. However, the closing of the Transaction is subject to certain conditions, and there can be no assurance that the Transaction will be completed as planned, or that the necessary conditions will be satisfied. If successful, the closing of the Transaction would be deemed to be a change of "control" of Angel Oak Companies, LP and its subsidiaries (collectively, the "Angel Oak Companies"), including Angel Oak, under the Investment Company Act of 1940, and deemed "assignment" of the Fund's investment advisory agreement (the "Existing Advisory Agreement"), which would result in the automatic termination of the Existing Advisory Agreement. However, following the closing of the Transaction, the existing management team of the Angel Oak Companies will continue to independently manage the day-to-day business of the Angel Oak Companies and Angel Oak, and will control the boards of directors of the Angel Oak Companies.

Information regarding the Fund and Angel Oak can be found at www.angeloakcapital.com.

Past performance is neither indicative nor a guarantee of future results. Investors should read the prospectus supplement and accompanying prospectus and consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your investment representative or EQ Fund Solutions LLC, the Fund's proxy solicitor, at 866-751-6314.

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Media:

Trevor Davis, Gregory FCA for Angel Oak Capital Advisors

443-248-0359

[email protected]

Company Contact:

Randy Chrisman, Chief Marketing & Corporate IR Officer, Angel Oak Capital Advisors

404-953-4969

[email protected]