XAI Floating Rate & Alternative Income Trust terminates Octagon as sub-adviser, backs King Street replacement plan

• XAI Floating Rate & Alternative Income Trust’s manager pressed shareholders to back a new King Street sub-advisory agreement ahead of a July 30, 2026 vote.
• Octagon Credit Investors was terminated as sub-adviser for poor performance, including seven CLO defaults in 2026 across its portfolio.
• XAI cast the proxy fight as an alignment issue, citing zero XFLT shares held by Octagon’s CEO and CIO versus XAI leadership holdings.
• The board urged votes in line with ISS support to avoid prolonged uncertainty over the fund’s sub-adviser.

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: 202607230745PRIMZONEFULLFEED9766936) on July 23, 2026, and is solely responsible for the information contained therein.