X0306 4 2019-06-21 0 0001679688 Colony Capital, Inc. CLNY 0001179696 MIKULICH RAYMOND C C/O COLONY CAPITAL, INC., 515 S. FLOWER ST., 44TH FLOOR LOS ANGELES CA 90071 1 0 0 0 Deferred Stock 2019-06-21 4 A 0 6345 D Class A Common Stock 6345 38218 D Represents the receipt of deferred stock units ("Deferred Stock") granted by the Issuer in respect of the reporting person's election to defer equity compensation payable in accordance with the Issuer's non-executive director compensation policy. Deferred Stock has no expiration date and is payable in the Issuer's Class A Common Stock, on a one-for-one basis, after the reporting person's separation from service with the Issuer. The Deferred Stock are immediately vested. The amount of Deferred Stock was determined by dividing the fixed grant value of $38,575 (reflecting a pro-rated amount for the period from the reporting person's initial election to the board of directors on February 11, 2019 to May 10, 2019) by the closing price of the Issuer's common stock on the New York Stock Exchange on February 12, 2019. /s/ Jenny B. Neslin, as Attorney-in-fact 2019-06-25