X0306 4 2017-04-03 0 0001679688 Colony NorthStar, Inc. CLNS 0001637687 Redington Neale C/O COLONY NORTHSTAR, INC. 515 SOUTH FLOWER STREET, 44TH FLOOR LOS ANGELES CA 90071 0 1 0 0 Chief Accounting Officer Class A Common Stock 2017-04-03 4 J 0 3378 A 79578 D OP Units 2017-04-03 4 J 0 3378 0.00 D Class A Common Stock 3378 10137 I See footnote OP Units 2017-04-03 4 J 0 3379 12.97 D Class A Common Stock 3379 6758 I See footnote The acquisition represents the acquisition of shares of Class A Common Stock by the reporting person as a distribution from limited liability companies ("LLCs") controlled by Thomas J. Barrack, Jr., which shares were received by such LLCs upon redemption of OP Units, which were allocated to the reporting person pursuant to the operating agreements of the LLCs. The OP Units were redeemed for an equal number of shares of the issuer's Class A Common Stock. These units are held by LLCs controlled by Thomas J. Barrack, Jr. A portion of the units allocated to the reporting person, as a member of the LLCs, was redeemed by the LLCs for shares of Class A Common Stock, at the discretion of the issuer, and the reporting person received shares of Class A Common Stock as a distribution from the LLCs upon such redemption. The OP Units do not have expiration dates. These units are held by LLCs controlled by Thomas J. Barrack, Jr. A portion of the units allocated to the reporting person, as a member of the LLCs, was redeemed by the LLCs for cash, at the discretion of the issuer, and the reporting person received cash as a distribution from the LLCs upon such redemption. The OP Units do not have expiration dates. /s/ David A. Palame, as Attorney-in-fact 2017-04-05