Exhibit 99.1

GREAT AJAX CORP. ANNOUNCES RESULTS FOR THE QUARTER
ENDED JUNE 30, 2016

Highlights

New York, NY—August 2, 2016—Great Ajax Corp. (NYSE: AJX), a Maryland corporation that is a real estate investment trust, today announces results of operations for the quarter ended June 30, 2016. We focus primarily on acquiring, investing in and managing a portfolio of re-performing (“RPL”) and non-performing (“NPL”) mortgage loans secured by single-family residences and commercial properties and, to a lesser extent, single-family properties.

Financial Results

(dollars in thousands except per share amounts)

(1) Total revenue includes net interest income, income from manager and other income

(2) Average daily cash balance includes cash and cash equivalents, and excludes cash held in trust

Net interest income for the quarter declined primarily as a result of recurring payment performance in excess of expectations and faster amortization of deferred issuance costs and expenses on our secured borrowings and repurchase agreements. Additionally, loan transaction expenses increased as we incurred $0.4 million in due diligence and related expenses with respect to loan acquisitions that closed subsequent to the second quarter of 2016.  We ended the second quarter with $68.4 million in available cash and expect to invest the majority of this cash in the third quarter of 2016 (described in more detail under “Subsequent Events” below).

Our yield on mortgage loans has declined as the percentage of re-performing loans relative to non-performing loans has increased, and the re-default rate for purchased re-performing loans has been less than expected. As a result, the overall duration of the portfolio has extended resulting in increased cash flow over the life of the loan as projected principal and interest payments have increased. The receipt of these increased cash flows over a longer duration results in a lower yield and lower current period income.

Portfolio Acquisitions

(dollars in thousands)

Mortgage loans purchased during the second quarter and held as of quarter-end were on our consolidated balance sheet for a weighted average of 42 days of the quarter.

The following table provides an overview of our portfolio at June 30, 2016 (dollars in thousands):

Subsequent Events

During July 2016, we completed the acquisitions of 882 RPLs with aggregate UPB of $149.2 million in five transactions from five different sellers. The loans were acquired at 83.6% of UPB and the estimated market value of the underlying collateral is $211.2 million. The purchase price equaled 59.1% of the estimated market value of the underlying collateral. All of these acquisitions had closed as of July 31, 2016.

Additionally, we have agreed to acquire, subject to due diligence, 626 RPLs with aggregate UPB of $124.0 million in eight transactions from eight different sellers. The purchase price equals 82.6% of UPB and 59.9% of the estimated market value of the underlying collateral of $171.0 million. We have not entered into a definitive agreement with respect to these loans, and there is no assurance that we will enter into a definitive agreement relating to these loans or, if such an agreement is executed, that we will actually close the acquisitions or that the terms will not change.

On July 28, 2016, our Board of Directors declared a dividend of $0.25 per share, which will be payable on August 31, 2016, to stockholders of record as of August 16, 2016.

On August 1, 2016, we issued 15,684 shares of our common stock to our Manager in payment of the stock-based component of the management fee due for the second quarter of 2016 in a private transaction. The management fee expense associated with these shares was recorded as an expense in the second quarter of 2016.

On August 1, 2016, we issued each of our independent directors 418 shares of our common stock in payment of half of their quarterly director fees for the second quarter of 2016.

On July 15, 2016, we entered into a repurchase financing arrangement, as Seller, with JPMorgan Chase Bank, N.A., as Buyer, under which we will sell to the Buyer beneficial interests in mortgage loans and will pledge to the Buyer the beneficial interests in such assets, with a simultaneous agreement by the Buyer to transfer to us and for us to repurchase such assets on a future date. The arrangement terminates on July 12, 2019, is capped at $150 million, carries interest at LIBOR plus 2.5% and charges a 25 basis point per annum facility fee.

On July 7, 2016, our Board of Directors appointed Paul Friedman to fill a vacancy on our Board. Mr. Friedman serves as a member of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee. Mr. Friedman is an independent director, as defined by the NYSE. In connection with his appointment, Mr. Friedman received a stock award of 2,000 shares of our common stock subject to a one-year vesting period pursuant to our 2014 Director Equity Plan.

Conference Call

Great Ajax will host a conference call at 5:00 p.m. EST, Tuesday, August 2, 2016 to review our financial results for the quarter. A live Webcast of the conference call will be accessible from the Investor

Relations section of our website www.great-ajax.com. An archive of the Webcast will be available for 90 days.

About Great Ajax Corp.

Great Ajax Corp. is a Maryland corporation that focuses primarily on acquiring, investing in and managing mortgage loans secured by single-family residences and, to a lesser extent, single-family properties themselves. We also invest in loans secured by multi-family residential and smaller commercial mixed use retail/residential properties, as well as in the properties directly. We are externally managed by Thetis Asset Management LLC. Our mortgage loans and other real estate assets are serviced by Gregory Funding LLC, an affiliated entity. We have elected to be taxed as a real estate investment trust under the Internal Revenue Code.

Forward-Looking Statements

This press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond the control of Great Ajax, including, without limitation, the risk factors and other matters set forth in our Annual Report on Form 10-K for the period ended December 31, 2015 filed with the SEC on March 29, 2016. Great Ajax undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Chief Executive Officer

or

Mary Doyle

Chief Financial Officer

Mary.Doyle@aspencapital.com

503-444-4224

GREAT AJAX CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands except share and per share amounts)

(Unaudited)

GREAT AJAX CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands except share and per share amounts)

(1)       Mortgage loans includes $504,885 and $398,696 of loans transferred to securitization trusts at June 30, 2016 and December 31, 2015, respectively, that are variable interest entities (“VIEs”) that can only be used to settle obligations of the VIEs. Secured borrowings consist of notes issued by VIEs that can only be settled with the assets and cash flows of the VIEs. The creditors do not have recourse to the primary beneficiary (Great Ajax Corp.).

(2)       Net book value per diluted share was $14.94 and $14.92 at June 30, 2016 and December 31, 2015, respectively.