X0303 4 2009-07-13 0001209028 Arlington Asset Investment Corp. AI 0001228958 PASSPORT MANAGEMENT LLC 30 HOTALING PLACE, STE. 300 SAN FRANCISCO CA 94111 0 0 1 0 0001352427 Passport Global Master Fund SPC Ltd C/O PASSPORT MANAGEMENT, LLC 30 HOTALING PLACE, STE. 300 SAN FRANCISCO CA 94111 0 0 1 0 0001352428 Passport Capital, LLC C/O PASSPORT MANAGEMENT, LLC 30 HOTALING PLACE, STE. 300 SAN FRANCISCO CA 94111 0 0 1 0 0001352425 Burbank John Howard III C/O PASSPORT MANAGEMENT, LLC 30 HOTALING PLACE, STE. 300 SAN FRANCISCO CA 94111 0 0 1 0 Common stock 2009-07-13 2009-07-13 4 S 0 699800 0.35 D 14500000 I See Footnotes The securities beneficially owned following the reported transactions are held for the account of Passport Global Master Fund SPC Ltd for and on behalf of portfolio A - global strategy (14,500,000 common shares) a British Virgin Islands segregated portfolio company ("Fund I"). Passport Management, LLC, a Delaware limited liability company ("Passport Management") is the investment manager to the Fund. Passport Capital, LLC, a Delaware limited liability company ("Passport Capital") is the managing member of Passport Management. John H. Burbank III, a natural person ("Burbank"), is the sole managing member of Passport Capital. As a result, each of Passport Management, Passport Capital and Burbank may be considered to indirectly beneficially own the securities directly beneficially owned by Fund I. Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended (the "Act"), Mr. Burbank is deemed to be a beneficial owner of the shares beneficially owned by Fund I only to the extent of the greater of his respective direct or indirect interest in the profits or capital account of such Funds. Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that Mr. Burbank is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any securities owned by the Funds in excess of such amount. /s/ JOHN H BURBANK III 2009-07-14