Eagle Point Institutional Income Fund (the “Fund”) is pleased to announce the declaration of distributions on shares of the Fund’s 8.125% Series A Term Preferred Shares due 2029 (the “Preferred Shares”). The Preferred Shares trade on the New York Stock Exchange (NYSE: EIIA). To date, the Fund has declared the following distributions per Preferred Share:

The distributions on the Preferred Shares reflect an annual distribution rate of 8.125% of the $25 liquidation preference per share.

ABOUT EAGLE POINT INSTITUTIONAL INCOME FUND

The Fund is a non-diversified closed-end management investment company. The Fund’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in equity and junior debt tranches of collateralized loan obligations. The Fund is externally managed and advised by Eagle Point Credit Management LLC. The Fund’s common shares of beneficial interest are not listed on any securities exchange.

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 Fund’s other filings with the SEC. The Fund 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.

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