DigitalBridge Group, Inc. announced that on August 29, 2022, John L. Steffens resigned as a member of the board of directors (the “Board”) of DigitalBridge Group, Inc. (the “Company”), including as a member of its compensation committee and nominating and corporate governance committee, effective as of August 29, 2022. Mr. Steffen's decision was not a result of any disagreement with the Company on any matter relating to its operations, polices or practices. Effective August 30, 2022, the Board appointed David M. Tolley to serve as an independent member of the Board.

Mr. Tolley, 55, most recently served as Executive Vice President and Chief Financial Officer of Intelsat S.A. from June 2019 to March 2022, where he helped to lead a multi-billion dollar restructuring of one of the world's large satellite communications services providers. Before joining Intelsat, beginning in 2017 Mr. Tolley served as Chief Financial Officer of Network Access Associates Ltd. (“OneWeb”), a satellite services company. From 2000 to 2011, Mr. Tolley served as a Senior Managing Director in the Private Equity Group at Blackstone, a leading investment firm, where he led satellite services strategy and investing and served on the Private Equity Investment Committee.

From 1990 to 2000, he was a Vice President at Morgan Stanley, a leading financial services company, in the Investment Banking Division, where he provided banking and advisory services to established and emerging companies in the broader communications sector. He has served on the boards of directors of nine public and private companies, including KVH Industries, Inc. from June 2022 to present, ExteNet Systems from 2016 to 2019, Cumulus Media from 2006 to 2017, NewSkies Satellites from 2004 to 2006 and Centennial Communications from 2001 to 2005. Mr. Tolley holds a Master of Business Administration degree from Columbia Business School and a Bachelor of Science degree in Economics and History from the University of Michigan.

Mr. Tolley has been appointed by the Board to serve on the audit committee and compensation committee of the Board. In addition, upon the effective date of Mr. Tolley's appointment, Jeannie Diefenderfer was appointed to the compensation committee of the Board and removed from the audit committee of the Board.