HOME ABOUT THE COMPANY FINANCIAL INFORMATION INVESTOR RELATIONS COMMENTARY ASSET MANAGEMENT FIDAC Subsidiary FIDAC is the wholly-owned registered investment advisor subsidiary of Annaly Capital Management Inc. (NYSE:NLY), a publicly traded real estate investment trust. Formed in 1994, FIDAC has become one of the leading fixed income management companies in the world specializing in mortgage-backed securities and interest rate sensitive strategies. We manage numerous investment vehicles marketed globally through distributor relationships The team managing Annaly fulfills the same roles at FIDAC. The team is led by Chairman Michael A.J. Farrell and Chief Investment Officer Wellington Denahan-Norris. FIDAC's team of investment professionals, trained in-house and expert at all phases of the investment process, has built a successful long-term track record through some of the most challenging fixed income markets in memory. FIDAC earns management fees for executing the same general strategy as Annaly; the fees are not linked to investment performance, but rather, linked to assets under management. Fidac Calendar TERMS AND CONDITIONS