XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) (the "Trust") today announced that its Board of Trustees has approved the implementation of a 1-for-5 reverse stock split (the "Reverse Stock Split") of the Trust's common shares of beneficial interest, par value $0.01 per share (the "Common Shares").

As a result of the Reverse Stock Split, every five (5) Common Shares issued and outstanding will be automatically combined into one (1) issued and outstanding Common Share, without any change in the par value per share. The Reverse Stock Split will affect all common shareholders uniformly and will not alter any shareholder's percentage of ownership interest in the Trust, except for adjustments that may result from the treatment of fractional shares.

The Reverse Stock Split is expected to become effective at 5:00pm Eastern Time on March 20, 2026. Shares of the Trust's Common Shares are expected to begin trading on a post‑split basis on the New York Stock Exchange ("NYSE") at the opening of the market on March 23, 2026, under the existing ticker symbol "XFLT." The new CUSIP number for the Trust's Common Shares following the Reverse Stock Split will be 98400T 304.