Ejf Investments Regulatory News (EJFI)

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE REPUBLIC OF IRELAND), AUSTRALIA, CANADA, SOUTH AFRICA OR ANY OTHER JURISDICITION WHERE IT IS UNLAWFUL TO DO SO

9 March 2020

EJF Investments Ltd

("EJFI" or the "Company")

Buy-back Programme

The Directors of EJFI announce that they have approved a share buy-back (the "Buy-back"), under the authorities given at the last annual general meeting held on 21 June 2019 (the "2019 AGM"), of up to £5,000,000 of the Company's ordinary shares (the "Ordinary Shares").

At the 2019 AGM, a special resolution was passed granting the Company authority to make market purchases of up to 10,426,623 Ordinary Shares, representing approximately 14.99 per cent. of the Ordinary Shares in issue as at 14 May 2019 (being the last practicable date before publication of the notice of the 2019 AGM), such authority to expire at the conclusion of the 2020 annual general meeting or, if earlier, 31 July 2020.

The Directors have determined that the Company has excess cash reserves and will therefore deploy up to £5,000,000 by means of a share buy-back, on an ad hoc basis with a view, inter alia, to addressing any imbalance between the supply of, and demand for, the Ordinary Shares, to increase the NAV per Ordinary Share and to assist in minimising any discount to the NAV per Ordinary Share at which Ordinary Shares may be trading.

Investors should note that the purchase of Ordinary Shares by the Company is entirely discretionary, and no expectation or reliance should be placed on the Directors exercising such discretion on any one or more occasions.

The Buy-back will commence today, 9 March 2020, and will continue until further notice. Numis Securities Limited will be instructed to execute the trades on behalf of the Company.

Listing Rule 12.4.1R (which the Company voluntarily complies with) and the provisions of the Market Abuse Regulation (Regulation (EU) No. 596/2014) and will be discontinued in the event that the Company ceases to have the necessary general authority to purchase Ordinary Shares.

ENQUIRIES

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Hammad Khan / Matthew Gill

pstage@ejfcap.com / hkhan@ejfcap.com / mgill@ejfcap.com

+44 203 752 6775 / +44 203 752 6771 / +44 203 752 6774

For the Company Secretary and Administrator

BNP Paribas Securities Services S.C.A

jersey.bp2s.ejf.cosec@bnpparibas.com

+44 1534 709 181 / +44 1534 813 996

For the Broker

Numis Securities Limited

David Luck

d.luck@numis.com

+44 20 7260 1301

About EJF Investments Ltd

EJFI is a registered closed-ended limited liability company incorporated in Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016 with registered number 122353. The Company is regulated by the Jersey Financial Services Commission (the "JFSC"). The JFSC is protected by both the Collective Investment Funds (Jersey) Law 1988 and the Financial Services (Jersey) Law 1998, as amended, against liability arising from the discharge of its functions under such laws.

The JFSC has not reviewed or approved this announcement.

LEI: 549300XZYEQCLA1ZAT25

Investor information & warnings

The latest available information on the Company can be accessed via its website at www.ejfi.com.

This communication has been issued by, and is the sole responsibility of, the Company and is for information purposes only. It is not, and is not intended to be an invitation, inducement, offer or solicitation to deal in the shares of the Company. The price and value of shares in the Company and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of shares in the Company. An investment in the Company should be considered only as part of a balanced portfolio of which it should not form a disproportionate part. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.