Dynex Capital, Inc. announced today that the Company's Board of Directors has declared a cash dividend of $0.13 per share of its Common Stock (NYSE:DX) for September 2023 and the quarterly cash dividend of $0.43125 per share of its 6.900% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYSE:DXPRC) for the third quarter of 2023.

The Common dividend is payable on October 2, 2023, to shareholders of record of the Common Stock as of September 22, 2023. The Preferred dividend is payable on October 16, 2023, to shareholders of record of the Series C Preferred Stock as of October 1, 2023.

About Dynex Capital

Dynex Capital, Inc. is a financial services company committed to ethical stewardship of stakeholders' capital; employing comprehensive risk management and disciplined capital allocation to generate dividend income and long-term total returns through the diversified financing of real estate assets in the United States. Dynex operates as a REIT and is internally managed to maximize stakeholder alignment. Additional information about Dynex Capital, Inc. is available at www.dynexcapital.com.

Forward Looking Statement

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the business of Dynex Capital, Inc. that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of these risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.

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Dynex Capital, Inc. Declares Common and Preferred Stock Dividends