Angel Oak Financial Strategies Income Term Trust

Item 8.01 Other Events At a special meeting of the board of trustees (the “Board”) of Angel Oak Financial Strategies Income Term Trust (“FINS”), based on feedback provided to management and the recommendation of management, the Board approved the calling of the annual meeting of the shareholders of FINS at a date and time that is later than 30 days from the date of the anniversary of the previous year’s annual meeting of shareholders of FINS in order to grant shareholders of FINS a reprieve from several recent non-routine calls for action, including the second quarter 2025 rights offering completed on May 14, 2025, the contested annual meeting of shareholders on June 26, 2025 and the special meeting of shareholders on September 26, 2025. As a result, when the date and time of the annual meeting is announced, based on the terms of the Bylaws, for nominations or other business to be properly brought before the annual meeting, notice must be delivered not earlier than the 150th day prior to the date of the annual meeting and not later than the close of business on the later of the 120th day prior to the date of the annual meeting or the tenth day following the day on which public announcement of the date of such meeting is first made. In addition, the deadline and requirements for shareholder proposals of business to be conducted at the 2026 annual meeting of the shareholders of FINS must be made in compliance with the applicable securities laws. The Board will further consider and discuss whether it anticipates that annual meetings after 2026 will occur around the anniversary of the 2026 annual meeting of FINS shareholders or around the anniversary of the 2025 annual meeting of FINS shareholders, June 26, 2025. In addition, based on feedback provided to management and the recommendation of management, at that November 21, 2025 meeting of the Board, the Board approved recommending to shareholders of FINS that at the forthcoming annual meeting, they approve a form of an amendment to Article IV, Section III to the Declaration of Trust of FINS (the “Declaration of Trust”) that lowers the threshold required for the shareholders of FINS to remove a trustee of FINS (a “Trustee”) for “Cause” as defined in Article IV, Section III of the Declaration of Trust from 75% to 66.67% and lowers the threshold required for the Trustees to remove a Trustee for Cause from 75% to 66.67%, making it easier for shareholders of FINS and Trustees of FINS to remove a Trustee for “Cause.” A copy of the form of the proposed amendment to the Declaration of Trust is attached hereto as Exhibit 99.1.