XAI Floating Rate & Alternative Income Trust seeks shareholder backing for King Street sub-adviser switch after Octagon exit

• XAI Floating Rate & Alternative Income Trust set a July 30, 2026, shareholder vote on a new sub-advisory agreement with King Street’s Rockford Tower.
• The board replaced Octagon, citing persistent underperformance; XFLT lagged its benchmark by 19.09% over one year as of March 31, 2026.
• NAV per share fell about 54% under Octagon, implying USD 406.7 million of NAV erosion on a current-share-equivalent basis.
• Management fees would not rise; the trust would keep paying XA Investments a 1.7% advisory fee.
• If shareholders reject the deal, King Street can serve up to 150 days on an interim basis, raising the risk of a prolonged manager search.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XAI Floating Rate & Alternative Income Trust published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607170830PRIMZONEFULLFEED9763924) on July 17, 2026, and is solely responsible for the information contained therein.