UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-22974

Eagle Point Credit Company Inc.

(Exact name of registrant as specified in charter)

20 Horseneck Lane

Greenwich, CT 06830

(Address of principal executive offices) (Zip code)

Thomas P. Majewski

c/o Eagle Point Credit Company Inc.

20 Horseneck Lane

Greenwich, CT 06830

(Name and address of agent for service)

Copies to

Thomas J. Friedmann

Philip Hinkle
Dechert LLP
One International Place, 40^th Floor

100 Oliver Street

Boston, MA 02110
(617) 728-7120

Registrant’s telephone number, including area code: (203) 340-8500

Date of fiscal year end: December 31

Date of reporting period: June 30, 2018

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

The Company’s Semiannual Report to stockholders for the six months ending June 30, 2018 is filed herewith.

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Dear Fellow Stockholders:

We are pleased to provide you with the enclosed report of Eagle Point Credit Company Inc. (“we,” “us,” “our” or the “Company”) for the six months ended June 30, 2018.

The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. We seek to achieve these objectives by investing primarily in equity and junior debt tranches of collateralized loan obligations (“CLOs”) and may also invest in other securities or instruments that are related investments or that are consistent with our investment objectives. The Company has a long-term oriented investment philosophy and invests primarily with a buy-and-hold mentality, though from time to time we will sell investments in the secondary market.

While the CLO market continues to garner increasing attention from investors, we believe the CLO market, and CLO equity in particular, remains inefficient. We firmly believe that in less efficient markets, specialization matters and the Company benefits from the investment experience of Eagle Point Credit Management LLC (our “Adviser”), which continues to apply its proprietary, private equity style investment process in a fixed income market. This process is focused on seeking to garner advantageous pricing and terms, and, importantly, to mitigate potential risks for the benefit of our stockholders.

The rising rate environment and continued expansion of the US economy characterized the first half of 2018. With the Fed, as widely expected, increasing short-term interest rates twice during the period (and with market expectations for additional increases in the second half of 2018 and into 2019), strong demand for floating rate assets (including CLOs) continued during the first half of the year. For the six months ended June 30, 2018, the S&P 500 Index, Merrill Lynch High Yield Master II Index and Credit Suisse Leverage Loan Index (“CSLLI”) generated returns of 2.65%, 0.07% and 2.38%, respectively.

While demand and issuance for CLOs remain strong, marketwide loan spread compression continued to have an impact on yields, albeit at a slowing pace. We have been opportunistically deploying capital into new investments with higher weighted average effective yields than the weighted average of our CLO equity portfolio and believe those investments should generate additional value for our portfolio over the longer term.

Past performance is not indicative of, or a guarantee of, future performance.

For the six months ended June 30, 2018, the Company generated a net increase in net assets resulting from operations of $17.64 million, or $0.84 per weighted average common share¹ (inclusive of unrealized gains). This represents a non-annualized return on our common equity of approximately 5.31% during the first half of 2018.²

With the current credit cycle in its tenth year and many major indices still trending near record highs, we believe our portfolio is well-positioned to capitalize on current markets and also to take advantage of loan price volatility through our CLO equity investments when conditions in the credit markets become less favorable.

In general, in pursuing our investment objective, our Adviser considers the remaining weighted average reinvestment period of our CLO equity holdings with a view to maximize such period. As of June 30, 2018, almost all of the CLO equity positions held by the Company were in their reinvestment periods. In addition to making investments in newly issued CLOs (which often have five-year reinvestment periods), our Adviser also focused considerable attention in the first six months of 2018 seeking to maximize value through resetting CLOs in our portfolio, as noted in our previous annual stockholder letter.

During the first six months of 2018, the Company was involved in 12 CLO resets and 1 CLO refinancing. In a CLO reset, the CLO’s indenture, which sets forth the terms governing the CLO, is re-opened and such terms can be re-negotiated. Among other potential benefits, resetting a CLO renews the reinvestment period on the CLO, often by five years. We believe that the ability to lengthen the term of a CLO equity investment is a key benefit of the Company’s permanent structure and that many limited life investment vehicles are not fully able to capture the value of this benefit. As a result of resetting a CLO, there are one-time transaction costs (e.g., dealer fees, attorney fees, and related costs) which typically reduce the next equity distribution on a CLO. Wherever possible, our Adviser seeks to keep these costs to a minimum. The “payback period”, or the breakeven point, associated with the costs on many resets has generally been three to six months. As a result of the significant reset activity during the first half of 2018, the weighted average remaining reinvestment period of our CLO equity portfolio at June 30, 2018 was approximately 2.49 years, an increase from 2.47 years as of December 31, 2017, despite six months of time decay.

By taking a proactive approach to our investments, we have sought to leverage the deep investing experience of our Adviser to achieve attractive pricing and terms on these actions. In our view, the activities undertaken in this regard should ultimately produce greater cash flows from our CLO equity investments than had we not taken any action, thus generating additional value for our portfolio to the benefit of our stockholders.

¹ “Weighted average common share” is calculated based on the average daily number of shares of common stock outstanding during the period and “per common share” refers to per share of the Company’s common stock.

² Return on our common equity reflects the Company’s monthly cumulative performance net of applicable expenses and fees measured against beginning capital.

We also continue to prudently manage the Company’s capital structure. During the first six months of 2018, the Company completed an underwritten public offering of shares of our common stock and raised additional capital through the at-the-market program. We believe these issuances were beneficial to the Company as shares were issued at a premium to NAV with net proceeds utilized to seek vintage period diversification within our investment portfolio. Additionally, we effectively refinanced our 7.00% notes due 2020 (ECCZ) through the issuance of our 6.6875% notes due 2028 (ECCX) at our lowest cost of debt to date. Another benefit of the ECCX issuance was a significant increase to the weighted average maturity on our outstanding notes and preferred stock to eight years, up from six years as of December 31, 2017.

From December 31, 2017 through June 30, 2018, the Company’s net asset value (“NAV”) modestly declined by 1.6%, from $16.77 per common share to $16.51 per common share. Further, as described below, during the first six months of the year, the Company paid aggregate distributions totaling $1.20 per share of common stock with respect to distributions declared in 2018. As of July 31, 2018, management’s unaudited estimate of the range of the Company’s NAV per common share was between $16.64 and $16.74. The midpoint of this range represents an increase of 1.1% compared to the NAV per common share as of June 30, 2018.

As we look to the balance of 2018, we expect to continue to receive consistent cash flows from our portfolio and our Adviser continues to evaluate and pursue investment opportunities that it believes are attractive, while selling securities when it believes there is particularly strong demand and pricing. We also expect to opportunistically continue our reset activity to further lower the funding costs of the CLOs in which we are invested. We remain disciplined in our approach to investing.

Company Overview

Common Stock

The Company’s common stock trades on the New York Stock Exchange (“NYSE”) under the symbol “ECC.” As of June 30, 2018, the NAV per share of the Company’s common stock was $16.51. The trading price of our common stock may, and often does, differ from NAV per share.

The closing price per share of our common stock was $18.17 on June 30, 2018, representing a 10.05% premium to NAV per share as of such date.³

From our IPO through June 30, 2018, our common stock has traded on average at a 10.74% premium to NAV. As of August 8, 2018, the closing price per share of common stock was

³ An investment company trades at a premium when the market price at which its shares trade is more than its net asset value per share. Alternatively, an investment company trades at a discount when the market price at which its shares trade is less than its net asset value per share. Past performance is not indicative of, or a guarantee of, future performance.

$18.50, a premium of 10.84% compared to the midpoint of management’s unaudited and estimated NAV range of $16.64 to $16.74 as of July 31, 2018.

In January 2018, the Company completed an underwritten public offering of 2,242,500 shares of its common stock (including full exercise of the underwriters’ overallotment option) at a public offering price of $18.25 per share, representing an 8.8% gross premium to the Company’s NAV per share of common stock of $16.77 as of December 31, 2017. The offering resulted in net proceeds to the Company of approximately $38.9 million. Additionally, in connection with our at-the-market offering established in June 2017, the Company sold 656,201 shares of our common stock during the six months ended June 30, 2018 for total net proceeds to the Company of approximately $11.6 million.

During the first six months of the year, the Company paid aggregate distributions totaling $1.20 per share of common stock with respect to distributions declared in 2018. This represents a 13.1% annualized distribution rate based on the average daily price of our common stock during the six-month period ending June 30, 2018 of $18.31 per share. An investor who purchased common stock as part of our IPO in October 2014 at $20 per share has received total cash distributions of $9.20 per share since the IPO. A certain portion of these distributions was comprised of a return of capital as described at the time of the applicable distribution.⁴

For the quarters ended March 31, 2018 and June 30, 2018, the Company recorded $0.50 and $0.34 per share of common stock, respectively, in quarterly net investment income and realized capital gains and losses. This was below the Company’s quarterly distribution run-rate of $0.60 per share of common stock (based on three separate monthly distributions of $0.20 per share). The lower quarterly totals were primarily attributable to the effects of spread compression impacting yield as well as some “cash drag” from capital raised in the common stock offering noted above as there is typically a lag between capital raises and deployment of the respective proceeds. Additionally, the Company’s NII net of realized capital losses for the quarter ended June 30, 2018 is net of $4.3 million or $0.20 per weighted average common share of non-recurring charges related to the accelerated amortization associated with the redemption of the ECCZ notes and offering expenses related to the ECCX issuance.

The Company remains highly focused on earning its regular common distribution over the long term through a combination of net investment income plus realized capital gains. While capital

⁴ To date, a portion of certain such distributions has been estimated to be a return of capital as noted in the Company’s Section 19 notices available on its website. For the fiscal periods ending June 30, 2018, December 31, 2017, and December 31, 2016, distributions made by the Company were comprised of a return of capital, as calculated on a per share basis, of 29.2%, 5.9% and 8.3%, respectively. Additionally, for the fiscal periods ending June 30, 2018, December 31, 2017, and December 31, 2016, distributions made by the Company were comprised of net realized capital gains, as calculated on a per share basis, of 5.0%, 8.6% and 5.0%, respectively. Distribution amounts not attributable to net realized capital gains or return of capital were sourced from net investment income. A distribution comprised in whole or in part by a return of capital does not necessarily reflect the Company’s investment performance and should not be confused with “yield” or “income”. Future distributions may consist of a return of capital. Not a guarantee of future distributions or yield.

raises have created some level of cash drag, we believe the risk-adjusted returns of the Company are enhanced by varying our portfolio across vintage periods through new investments. As with our approach to investments, our approach to financing is focused on the long term.

Each quarter since our IPO, quarterly cash flows from the investment portfolio have covered distributions on our common stock. These cash flows remained strong in the first half of 2018, totaling $58.1 million, or $2.76 per weighted average common share.

We also want to highlight the Company’s dividend reinvestment plan for common stockholders. This plan allows common stockholders to have their distributions automatically reinvested into new shares of common stock. If the prevailing market price of our common stock exceeds our NAV per share by a certain margin as described in the plan, such reinvestment is at a discount to the prevailing market price. We encourage all common stockholders to carefully review the terms of the plan.

Other Securities

In addition to our common stock, the Company has four other securities which trade on the NYSE, which are summarized below:

The Company achieved another significant milestone with the issuance of our ECCX Notes in April 2018. We took advantage of strong market conditions and effectively refinanced our ECCZ Notes, which were fully redeemed in May 2018. The ECCX Notes have a fixed coupon of 6.6875%, which is 31.25 basis points lower than the ECCZ Notes they replaced and represents

our lowest cost of debt to date. Perhaps even more importantly, we replaced notes that had less than three years of life remaining with notes that have a ten-year maturity. As a result, the weighted average maturity on our outstanding notes and preferred stock is approximately eight years, up from six years prior to these transactions. In addition, all of our financing is fixed rate, which provides us with added certainty in a rising rate environment.

As of June 30, 2018, we had debt and preferred securities outstanding which totaled approximately 35% of our total assets (less current liabilities). Over the long term, management expects the Company to operate under current market conditions generally with leverage within a range of 25% to 35% of total assets. As market conditions evolve, or should significant opportunities present themselves, the Company may incur leverage outside of this range, subject to applicable regulatory limits.

Monthly Common Distributions

The Company has declared nine monthly distributions of $0.20 per share of common stock from January 2018 through September 2018 and has paid a cumulative $1.40 per share of common stock thus far in 2018 as of July 31, 2018.⁵ We intend to continue declaring monthly distributions on shares of our common stock, although we note that the actual components and amount of such distributions are subject to variation over time.

Portfolio Overview

First Half of 2018 Portfolio Update

Our portfolio continues to generate consistent cash flows. During the six month period ended June 30, 2018, the Company received cash distributions from our portfolio of $58.1 million, or approximately $2.76 per weighted average common share. We seek to reinvest cash flows in excess of our costs and distributions into new investments in a manner consistent with our investment objectives and strategy.

During the six months ended June 30, 2018, the Company made 42 new CLO equity and debt investments with total purchase proceeds of approximately $123.3 million. The Company also opportunistically sold 28 CLO equity and debt investments, generating aggregate sales proceeds of approximately $58.6 million. While in general the Company operates with a buy-and-hold approach, many of these sales were focused on harvesting gains from opportunistic investments that the Company made last year and earlier this year in the secondary market at discounted prices. The proceeds from sales were typically earmarked for new purchases in the primary market.

⁵ To date, a portion of certain such distributions has been estimated to be a return of capital as noted in the Company’s Section 19 notices available on its website. See also footnote 4 on previous page.

In addition to new investment activity, the Company was particularly active in resetting CLOs in our portfolio. For the first six months of 2018, the Company completed 12 CLO resets, which allowed us to lengthen the reinvestment period of each CLO reset by up to five years while reducing their weighted average cost of debt. While these actions take significant time and effort (sometimes becoming more involved than negotiating a new CLO investment), we believe the resets are accretive to our net income. Many of these transactions occurred in CLOs where the Company, or the Company together with other clients of our Adviser, hold a majority interest in the equity class, providing us a meaningful advantage in pursuing additional value through resets. As a reminder, a reset typically causes a one-time reduction in CLO equity cash flows. However, we believe this is money well spent and that our investments will allow us to harvest increased cash flows in the future versus had these actions not been taken.

While spread compression and the recalibration of effective yields continues to have an impact on the portfolio, we believe we have reached an inflection point as a result of our recent investments that typically have a weighted average effective yield well above our overall portfolio, and due to our proactive refinance/reset activity. As of June 30, 2018, the weighted average effective yield on our CLO equity portfolio was 14.08%, compared to 14.42% as of December 31, 2017. Importantly, we highlight that the Company’s effective yields include an allowance for future credit losses.

Our Adviser continues to seek attractive investment opportunities on our behalf and continues to evaluate a number of opportunities both in the primary and secondary markets. Maintaining varied exposure to CLO vintage periods remains a very important part of our investment approach. As of June 30, 2018, our Adviser has approximately $2.3 billion of assets under management (inclusive of unfunded capital commitments). We believe the scale and experience of our Adviser in CLO investing provides the Company with meaningful advantages.

Included within the enclosed report, you will find detailed portfolio information, including certain look-through information related to the underlying collateral characteristics of the CLO equity and other unrated investments that we held as of June 30, 2018.

Market Overview

Loan Market

The Credit Suisse Leveraged Loan Index (CSLLI)⁶ had a total return of 2.38% for the first six months of the year, tracking slightly above last year’s pace.

The stability of loan prices continues to result in a significant percentage of the loan market trading at or above par. As of June 30, 2018, 24% of the S&P/LSTA Leveraged Loan Index⁷ was trading at par and above, according to S&P Capital IQ. This compares to 66% as of December 31, 2017. Subsequently, as of July 31, 2018, 47% of the Index was trading at par and above.

According to S&P Capital IQ, total institutional loan issuance was $271 billion during the first half of 2018, slightly below the record $297 billion amount recorded in the first half of 2017, and driven primarily by the significant amount of reset activity thus far in 2018. Leveraged buyout (LBO) and merger & acquisition (M&A) deals increased by 12% year-over-year to $183 billion. Total institutional loans outstanding was $1.048 trillion as of June 30, 2018, up 11% from the prior year, providing a large market for our CLOs to continue investing and reinvesting.

Favorable loan market technicals for issuers continued to persist in the first half of 2018, aided by strong demand for loans, including from CLOs, retail funds and institutional separately managed accounts. According to J.P. Morgan⁸, retail loan funds have experienced over $8 billion of net inflows in the first half of 2018 (compared to total inflows of $9.4 billion for all of 2017).

While loan spreads remain compressed, the pace of the tightening has slowed, and notably, not a single syndicated loan was repriced in July, according to JP Morgan. ⁸ It has been years since this has occurred. We continue to work diligently to mitigate the compression by refinancing and resetting various CLOs in our portfolio.

As a result of increased demand, we are seeing certain loan fundamentals decreasing. The loan market exposure to single-B is at record levels and more issuers are utilizing EBITDA adjustments when marketing new loans. That said, the lagging 12-month default rate by principal amount on the S&P/LSTA Leveraged Loan Index remains well below the historical average. As of June 30, 2018, this default rate was 1.95% versus the long-term average of 3.0%. We expect defaults to remain below the historical average over the near-to-medium term given the low percentage of loans with maturities before 2021, that approximately three-quarters of loan issuance is covenant-lite, according to S&P Capital IQ (and therefore, we expect few technical defaults), and that the U.S. economy and corporate fundamentals remain relatively

⁶ The CSLLI tracks the investable universe of the US dollar-denominated leveraged loan market. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.

⁷ The S&P/LSTA Leveraged Loan Index is a market value-weighted index designed to measure the performance of the U.S. leveraged loan market based upon weightings, spreads and interest payments.

⁸ JPMorgan Chase & Co. North American Credit Research – JPM High Yield and Leveraged Loan Research (cumulative 2018 reports).

healthy. However, as we have shared in the past, a low default rate does not mean that the loan market will not experience loan price volatility. When loan price volatility inevitably presents itself, we believe the portfolio’s CLOs will be well positioned to take advantage. For example, we expect that CLOs that have recently been reset will benefit to a meaningfully greater extent during such periods of volatility than had their reinvestment period not been extended.

CLO Market

Although spreads widened modestly over the last few months over the capital structure, the cost of financing for new issue CLOs (as well as resets and refinancings) fell modestly compared to the start of the year. According to J.P. Morgan, primary AAA CLO spreads tightened from 115bps as of December 31, 2017 to 112bps as of June 30, 2018 and are still near post-crisis tights.

Buoyed by the rising rate environment and stable US markets, CLO issuance was on pace in the first half of 2018 to exceed 2014’s record, and is well ahead of our initial annualized forecast and most dealers’ original projections. For the first half of 2018, according to S&P Capital IQ, US CLO issuance totaled $68.7 billion compared to $52.5 billion in the first six months of 2017. The $36.6 billion of issuance in the second quarter of 2018 is the second highest quarterly volume in the CLO 2.0 era, behind only the second quarter of 2014.

In addition to the increase in new issue activity, the first half of 2018 also saw a significant increase in reset volume compared to 2017. Reset activity during the first six months of 2018 of $67.2 billion has already exceeded the full year 2017 reset volume of $65.0 billion. CLOs from 2015 and 2016, typically with high liability costs, have been coming off of non-call and proactive equity investors are driving resets of many of the CLOs from those vintages. Further, the repeal of risk retention, which unto itself hasn’t meaningfully increased volume, triggered change-in-law provisions contained in many CLOs, allowing for easier re-use of existing CLO vehicles.

In addition, through the end of June 2018, total U.S. CLO refinancing volume was $16.2 billion, a fraction of the $102.0 billion of record refinancing volume in 2017.

According to S&P Capital IQ, 86 CLO collateral managers in the US have issued CLOs so far in 2018. This compares to 64 during the same period last year. During all of 2017, 95 collateral managers issued CLOs, an increase from 2016’s 81 issuers.

Overall, we expect the second half of 2018 to be just as busy as the first half, due to strong demand for CLO debt and equity, many second half 2016 vintage CLOs – typically with high debt costs – coming off of non-call, and many 2014 vintage CLOs, which are likely to be exiting their reinvestment periods, seeking to extend their reinvestment periods via resets.

Additional Information

In addition to the Company’s regulatory requirement to file certain quarterly and semi-annual portfolio information as described further in the enclosed report, the Company makes a monthly

estimate of NAV and certain additional financial information available to investors via our website (www.eaglepointcreditcompany.com). This information includes (1) an estimated range of the Company’s net investment income and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company’s NAV per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end, and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company’s net investment income and realized capital gains or losses per share for the applicable quarter, if available.

Subsequent Developments

In the period from July 1, 2018 through August 8, 2018, the Company issued 561,595 shares of our common stock pursuant to the “at-the-market” offering, for total net proceeds to the Company of approximately $10.1 million.

Management’s unaudited estimate of the range of the Company’s NAV per share of common stock was between $16.64 and $16.74 as of July 31, 2018.

On July 2, 2018, the Company declared three separate distributions of $0.20 per share on its common stock. The first distribution was paid on July 31, 2018 to holders of record on July 12, 2018. The additional distributions are payable on each of August 31, 2018 and September 28, 2018 to holders of record on August 13, 2018 and September 12, 2018, respectively.

On July 2, 2018, the Company declared three separate distributions of $0.161459 per share on each series of preferred stock. The first distribution was paid on July 31, 2018 to holders of record on July 12, 2018. The additional distributions are payable on each of August 31, 2018 and September 28, 2018 to holders of record on August 13, 2018 and September 12, 2018, respectively.

In the period from July 1, 2018 through August 8, 2018, the Company received cash distributions on its investment portfolio of $20.6 million. During that same period, the Company made gross new investments totaling $8.4 million. As of August 8, 2018, the Company had $32.8 million of cash available for investment.

We appreciate the trust and confidence our stockholders have placed in the Company.

Thomas Majewski

Chief Executive Officer

This letter is intended to assist stockholders in understanding the Company’s performance during the six months ended June 30, 2018. The views and opinions in this letter were current as of August 14, 2018. Statements other than those of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. The Company undertakes no duty to update any forward-looking statement made herein. Information contained on our website is not incorporated by reference into this stockholder letter and you should not consider information contained on our website to be part of this stockholder letter or any other report we file with the Securities and Exchange Commission.

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Eagle Point Credit Company Inc.

Semiannual Report – June 30, 2018

Table of Contents

Important Information

This report is transmitted to the stockholders of Eagle Point Credit Company Inc. (“we”, “us”, “our” or the “Company”) and is furnished pursuant to certain regulatory requirements. This report and the information and views herein do not constitute investment advice, or a recommendation or an offer to enter into any transaction with the Company or any of its affiliates. This report is provided for informational purposes only, does not constitute an offer to sell securities of the Company and is not a prospectus. From time to time, the Company may have a registration statement relating to one or more of its securities on file with the US Securities and Exchange Commission (“SEC”). Any registration statement that has not yet been declared effective by the SEC, and any prospectus relating thereto, is not complete and may be changed. Any securities that are the subject of such a registration statement may not be sold until the registration statement filed with the SEC is effective.

The information and its contents are the property of Eagle Point Credit Management LLC (the “Adviser”) and/or the Company. Any unauthorized dissemination, copying or use of this presentation is strictly prohibited and may be in violation of law. This presentation is being provided for informational purposes only.

Investors should read the Company’s prospectus and SEC filings (which are publicly available on the EDGAR Database on the SEC website at http://www.sec.gov) carefully and consider their investment goals, time horizons and risk tolerance before investing in the Company. Investors should consider the Company’s investment objectives, risks, charges and expenses carefully before investing in securities of the Company. There is no guarantee that any of the goals, targets or objectives described in this report will be achieved.

An investment in the Company is not appropriate for all investors. The investment program of the Company is speculative, entails substantial risk and includes investment techniques not employed by traditional mutual funds. An investment in the Company is not intended to be a complete investment program. Shares of closed-end investment companies, such as the Company, frequently trade at a discount from their net asset value (“NAV”), which may increase investors’ risk of loss. Past performance is not indicative of, or a guarantee of, future performance. The performance and certain other portfolio information quoted herein represents information as of June 30, 2018. Nothing herein should be relied upon as a representation as to the future performance or portfolio holdings of the Company. Investment return and principal value of an investment will fluctuate, and shares, when sold, may be worth more or less than their original cost. The Company’s performance is subject to change since the end of the period noted in this report and may be lower or higher than the performance data shown herein.

Neither Eagle Point Credit Management LLC (the “Adviser”) nor the Company provide legal, accounting or tax advice. Any statement regarding such matters is explanatory and may not be relied upon as definitive advice. Investors should consult with their legal, accounting and tax advisors regarding any potential investment. The information presented herein is as of the dates noted herein and is derived from financial and other information of the Company, and, in certain cases, from third party sources and reports (including reports of third party custodians, CLO managers and trustees) that have not been independently verified by the Company. As noted herein, certain of this information is estimated and unaudited, and therefore subject to change. We do not represent that such information is accurate or complete, and it should not be relied upon as such.

About Eagle Point Credit Company Inc.

The Company is a publicly-traded, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate high current income and capital appreciation primarily through investment in equity and junior debt tranches of CLOs.  The Company is externally managed and advised by Eagle Point Credit Management LLC. The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (www.eaglepointcreditcompany.com). This information includes (1) an estimated range of the Company’s net investment income (“NII”) and realized capital gains or losses per weighted average share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company’s net asset value (“NAV”) per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end, and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company’s NII and realized capital gains or losses for the applicable quarter, if available.

Information contained on our website is not incorporated by reference into this Semiannual Report and you should not consider information contained on our website to be part of this Semiannual Report or any other report we file with the SEC.

Forward-Looking Statements

This report may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this report may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this report.

Notes

Summary of Certain Unaudited Portfolio Characteristics

The information presented below is on a look–through basis to the collateralized loan obligation, or “CLO”, equity and related investments held by the Company as of June 30, 2018 (except as otherwise noted) and reflects the aggregate underlying exposure of the Company based on the portfolios of those investments. The data is estimated and unaudited and is derived from CLO trustee reports received by the Company relating to June 2018 and from custody statements and/or other information received from CLO collateral managers, or other third party sources.

Please see footnote disclosures on page 3.

The top ten underlying obligors on a look-through basis to the Company’s CLO equity and other unrated investments as of June 30, 2018 are provided below:

The top ten industries of the underlying obligors on a look-through basis to the Company’s CLO equity and other unrated investments as of June 30, 2018 are provided below:

The credit ratings distribution of the underlying obligors on a look-through basis to the Company’s June 30, 2018 is provided below:

The maturity distribution of the underlying obligors on a look-through basis to the Company’s CLO equity and other unrated investments as of June 30, 2018 is provided below:

Please see footnote disclosures on page 3.

Consolidated Financial Statements for the Six Months Ended
June 30, 2018 (Unaudited)

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES

As of June 30, 2018

(expressed in U.S. dollars)

(Unaudited)

See accompanying notes to the consolidated financial statements

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS

As of June 30, 2018

(expressed in U.S. dollars)

(Unaudited)

See accompanying notes to the consolidated financial statements

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED SCHEDULE OF INVESTMENTS

As of June 30, 2018

(expressed in U.S. dollars)

(Unaudited)

See accompanying notes to the consolidated financial statements

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS

For the six months ended June 30, 2018

(expressed in U.S. dollars)

(Unaudited)

See accompanying notes to the consolidated financial statements

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(expressed in U.S. dollars)

(Unaudited)

Note: The above Consolidated Statement of Operations includes the period ended June 30, 2017 which has been provided as supplemental information to the consolidated financial statements.

See accompanying notes to the consolidated financial statements

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(expressed in U.S. dollars)

(Unaudited)

Note: The above Consolidated Statement of Operations represents the three months ended June 30, 2018, the three months ended March 31, 2018, and the six months ended June 30, 2018 and has been provided as supplemental information to the consolidated financial statements.

See accompanying notes to the consolidated financial statements

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

(expressed in U.S. dollars, except share amounts)

(Unaudited)

See accompanying notes to the consolidated financial statements

EAGLE POINT CREDIT COMPANY INC. & SUBSIDIARIES

CONSOLIDATED STATEMENT OF CASH FLOWS

For the six months ended June 30, 2018

(expressed in U.S. dollars)

(Unaudited)