X0306 4 2017-11-16 1 0001579471 Starwood Waypoint Homes SFR 0001034657 STERNLICHT BARRY S C/O STARWOOD CAPITAL GROUP 591 W PUTNAM AVENUE GREENWICH CT 06830 1 0 0 0 Common shares of beneficial interest 2017-11-16 4 D 0 126055 D 0 I By controlled entities Common shares of beneficial interest 2017-11-16 4 D 0 688027 D 0 D OP Units 2017-11-16 4 D 0 5849824 D Common shares of beneficial interest 5849824 0 I By controlled entities Pursuant to an Agreement and Plan of Merger, dated as of August 9, 2017 (the "Merger Agreement"), by and among Invitation Homes Inc. ("INVH"), Invitation Homes Operating Partnership LP ("INVH LP"), IH Merger Sub, LLC ("REIT Merger Sub"), Starwood Waypoint Homes ("SFR") and Starwood Waypoint Homes Partnership, L.P., SFR merged with and into REIT Merger Sub, with REIT Merger Sub surviving as a wholly-owned subsidiary of INVH. Pursuant to the Merger Agreement, each outstanding common share of beneficial interest, par value $0.01 per share ("SFR Common Shares"), of SFR was converted into the right to receive 1.6140 shares of common stock ("INVH Common Stock"), par value $0.01 per share, of INVH and cash in lieu of any fractional INVH Common Stock. Represents SFR Common Shares held by Starwood Capital Group Global, L.P. ("SCGG") and SFIP, L.P. ("SFIP"). Mr. Sternlicht is the controlling partner of SCGG and SFIP. The OP Units were redeemable for the issuer's SFR Common Shares or cash at the discretion of the issuer. The OP Units did not have expiration dates. Disposed of pursuant to the Merger Agreement, pursuant to which each OP Unit was converted into the right to receive 1.6140 common limited partnership units in INVH LP. The OP Units were held by SCGG. /s/ Ryan A. Berry, his attorney in fact 2017-11-20