X0306 4 2018-08-09 0 0001679688 Colony Capital, Inc. CLNY 0001472236 Hedstrom Mark M. C/O COLONY CAPITAL, INC., 515 SOUTH FLOWER STREET, 44TH FLOOR LOS ANGELES CA 90071 0 1 0 0 Chief Operating Officer OP Units 2018-08-09 4 A 0 108541 0.00 A Class A Common Stock 108541 2412315 I See footnote Represents common membership units ("OP Units") in Colony Capital Operating Company, LLC ("CCOC"), which are redeemable at the election of the OP Unit holder for (1) cash equal to the market value of an equivalent number of shares of the issuer's Class A Common Stock ("Class A Common Stock") or (2) at the option of the issuer in its capacity as the managing member of CCOC, shares of Class A Common Stock on a one-for-one basis. The right to redeem OP Units does not have an expiration date. The OP Units were acquired in connection with contingent consideration paid in the issuer's predecessor's acquisition of substantially all of its former manager in April 2015, and were allocated to the reporting person. The OP Units are held by limited liability companies controlled by Thomas J. Barrack, Jr. (the "Holdcos"). The reporting person has the right, subject to certain conditions, to require the Holdcos from time to time to redeem the OP Units in accordance with Note 1 above and distribute to the reporting person the shares of Class A Common Stock or cash received upon such redemption. See Exhibit 24 - Power of Attorney /s/ Jenny B. Neslin, as Attorney-in-fact 2018-08-13