Dynex Capital, Inc. Declares Second Quarter Dividends on Its Series A and Series B Preferred Stock

Dynex Capital, Inc. (NYSE: DX) announced today that it will pay the regular quarterly dividend of $0.53125 per share on its 8.50% Series A Cumulative Redeemable Preferred Stock (NYSE: DXPRA). The Company also announced that it will pay the first dividend of $0.46068 per share on its 7.625% Series B Cumulative Redeemable Preferred Stock (NYSE: DXPRB), which amount represents the dividend for the partial quarterly period from April 19, 2013 (the issuance date of the Series B Preferred Stock) to, but not including, July 15, 2013. Both dividends will be paid on July 15, 2013 to shareholders of record of the Series A and Series B Preferred Stocks as of July 1, 2013.

Dynex Capital, Inc. is an internally managed real estate investment trust, or REIT, which invests in mortgage assets on a leveraged basis. The Company invests in Agency and non-Agency RMBS and CMBS. The Company also has investments in securitized single-family residential and commercial mortgage loans originated by the Company from 1992 to 1998. Additional information about Dynex Capital, Inc. is available at www.dynexcapital.com.

“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.