Exhibit 99.1




ENDED MARCH 31, 2017


First Quarter Highlights


·Purchased $3.1 million of re-performing mortgage loans (“RPL”) with an aggregate unpaid principal balance (“UPB”) of $3.4 million, and originated $2.5 million of small-balance commercial mortgage loans to end the quarter with $856.8 million of mortgage loans with an aggregate UPB of $1,043.3 million.

·Portfolio interest income of $20.8 million; net interest income of $13.2 million.

·Net income attributable to common stockholders of $8.4 million.

·Earnings per share (“EPS”) of $0.46 per diluted share.

·Taxable income of $0.38 per diluted share.

·Book value per share of $15.28 at March 31, 2017.

·$29.8 million of cash and cash equivalents at March 31, 2017.


New York, NY—May 2, 2017 —Great Ajax Corp. (NYSE: AJX), a Maryland corporation that is a real estate investment trust, today announces results of operations for the quarter ended March 31, 2017. We focus primarily on acquiring, investing in and managing a portfolio of RPL mortgage loans secured by single-family residences and commercial properties, and, to a lesser extent, non-performing mortgage loans (“NPL”). In addition to our continued focus on residential RPLs, we intend to increase our acquisitions of small balance commercial loans secured by multi-family residential and commercial mixed use retail/residential properties.


Financial Results (Unaudited)


($ in thousands except per share amounts)


   March 31,
  December 31,
  September 30,
  June 30,
  March 31,
Interest income  $20,807   $19,723   $18,707   $16,378   $15,814 
Total revenue (1)  $13,667   $10,969   $11,619   $10,688   $11,411 
Consolidated net income  $8,698   $6,163   $7,887   $6,861   $7,963 
Net income per diluted share  $0.46   $0.33   $0.42   $0.42   $0.50 
Average equity  $284,872   $280,213   $279,222   $248,195   $240,283 
Average total assets  $952,112   $883,621   $814,426   $671,275   $626,008 
Average daily cash balance (2)  $35,513   $32,759   $50,572   $39,043   $27,824 
Average carrying value of RPLs  $806,982   $751,801   $653,699   $539,701   $496,925 
Average carrying value of NPLs  $53,975   $59,365   $63,778   $68,205   $71,984 
Average debt balance  $669,938   $615,103   $537,279   $433,595   $384,486 



(1) Total revenue includes net interest income, income from investments in our manager and other income.

(2) Average daily cash balance includes cash and cash equivalents, and excludes cash held in trust.


The following information was filed by Great Ajax Corp. (AJX) on Tuesday, May 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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