Investor Presentation March 2019

COLONY CAPITAL WORLD CLASS - COMMERCIAL REAL ESTATE EXPERTISE management ("AUM")(1) ColonyCredit REAL ESTATE CLNC is externally managed by Colony Capital, Inc. ("CLNY" or "Colony Capital"), a NYSE-listed global real estate and investment management firm with $43 billion of assets under Extensive networ of relationships across property Deep knowledge types ColonyCapital Global context and perspective Experience across capital stack 400+ Employees | 17 Offices Globally CLNY Key Highlights ■ 27-year track record with over $100 billion of investments by CLNY ■ Over $25 billion of CRE credit assets in over 600 investments since inception ▪ Successful history of managing credit assets and vehicles Colony Capital - Breadth of Platform Global Healthcare U.S. Industrial Balance Sheet Strategies $14bn AUM(2) U.S. Hospitality Global Other Equity & Debt $43bn of AUM Note: As of December 31, 2018 unless otherwise stated See footnotes in the appendix Balance Sheet Light $28bn AUM (3) Institutional Funds Retail Funds Public REITS Other Investment Management 6

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