Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) (the ?Company?) announced that the special committee (the ?Special Committee?) of the Company?s board of directors (the ?Board?), which is comprised entirely of independent and disinterested members of the Board, after consultation with its independent legal and financial advisors and as part of the Special Committee?s previously announced exploration of strategic alternatives, determined and recommended to the Board that it is advisable and in the best interests of the Company and its stockholders to internalize management of the Company, terminate the management agreement between the Company and Cherry Hill Mortgage Management, LLC, the Company?s external manager, and take all steps necessary to begin operating the Company as a fully integrated, internally managed mortgage REIT (the ?Internalization?). Following such recommendation from the Special Committee, the Board authorized and approved the Internalization and authorized and directed the Company?s officers to take all actions necessary to cause the Company to effect the Internalization. As previously announced by the Company in its April 22, 2024 press release announcing the exploration of strategic alternatives by the Special Committee, the internalization of management of the Company is one of the strategic alternatives being considered by the Special Committee.

The Special Committee is continuing to explore other strategic alternatives. There can be no assurance that the exploration of strategic alternatives will result in any transaction or other strategic outcome other than the Internalization. There is no formal timetable for the Special Committee?s completion of its exploration of strategic alternatives and the Company does not intend to disclose any developments with respect to the Internalization or the strategic review process until the Internalization or the evaluation of strategic alternatives has been completed or the Special Committee determines disclosure is appropriate or legally required.