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XFLT Urges Shareholders to Vote Today to Approve the King Street Sub-Advisory Agreement

XFLT
  • XAI Floating Rate & Alternative Income Trust (XFLT) urges shareholders to vote "FOR" the King Street Sub-Advisory Agreement on the WHITE proxy card ahead of the August 6, 2026 Special Meeting.
  • Rockford Tower Asset Management, L.L.C., a subsidiary of King Street Capital Management, assumed the sub-adviser role on July 30, 2026, following the termination of Octagon.
  • Octagon no longer has a role in daily portfolio management or authority to implement its proposed plan, & an "Against" vote will not reverse its termination.
  • A "FOR" vote aims to secure potential benefits including increased distributions, improved performance, & expanded investment opportunities in U.S. & European credit markets.
  • King Street manages $30 billion in assets, operates a $12 billion CLO platform, & employs investment professionals in the U.S., London, Singapore, & Dubai.
  • The proposal includes implementing the Board's liquidity plan featuring an initial tender offer & two contingent tender offers scheduled approximately 13 & 25 months later.
  • Contingent tender offers will only occur unless a net asset value performance condition or a market discount condition is met.
  • The market discount condition requires Fund shares to close at a discount to NAV of less than 15% for 15 out of any 20 consecutive trading days during the final three months of the measurement period.
  • Proxy advisory firms ISS & Glass Lewis recommend voting "FOR" the King Street Sub-Adviser.
  • Shareholders can vote via Internet, phone, or mail using the WHITE proxy card, & existing votes can be changed by voting again.
  • Assistance is available through Okapi Partners LLC at (855) 305-0855 or XAI@OkapiPartners.com.