Orchid Island Capital, Inc.

ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JUNE 10, 2025

This proxy statement is furnished in connection with the solicitation of proxies by the Board of Directors (the “Board of Directors” or the “Board”) of Orchid Island Capital, Inc., a Maryland corporation, for use at our 2025 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on June 10, 2025, at 8:30 a.m. Eastern Time at the principal executive office of Orchid Island Capital, Inc., 3305 Flamingo Drive, Vero Beach, Florida 32963, and for the purposes set forth in the accompanying Notice of Annual Meeting of Stockholders, and at any adjournments or postponements to the meeting. Unless the context requires otherwise, references in this proxy statement to “ORC,” “our company,” “we,” “us” and the “Company” refer to Orchid Island Capital, Inc.

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON JUNE 10, 2025:

The Notice of Internet Availability will be first mailed, or electronically delivered to those who have consented, on or about April 28, 2025 to stockholders of record as of the close of business on the record date. This notice of annual meeting, proxy statement and our annual report to stockholders, which includes our annual report on Form 10-K with audited financial statements for the year ended December 31, 2024 (our “2024 Annual Report”), and any amendments or supplements to the foregoing material that is required to be furnished to stockholders are available on the Internet atproxyvote.com andhttps://ir.orchidislandcapital.com.

At the Annual Meeting, action will be taken to:

(i) elect six directors, each to hold office until the next annual meeting of stockholders and until his or her successor is elected and qualified;

(ii) ratify the appointment of BDO USA, P.C. (“BDO”) as our independent registered public accounting firm for the fiscal year ending December 31, 2025; and

(iii) approve, by a non-binding vote, our executive compensation.

At the discretion of the proxy holders, proxies may be voted on any other business that may properly come before the Annual Meeting or any adjournment of the Annual Meeting.