Effective January 31, 2017, following the effective time of the Registration Statement, Ms. Janice L. Sears was appointed to the Board of Directors of the Invitation Homes Inc., thereby joining Messrs. John B. Bartling Jr., Bryce Blair, Kenneth A. Caplan, Nicholas C. Gould, Jonathan D. Gray, Robert G. Harper, John B. Rhea, David A. Roth, John G. Schreiber and William J. Stein. In addition, effective January 31, 2017, Messrs. Rhea and Schreiber and Ms. Sears were appointed to serve as members of the Audit Committee of the Board of Directors; Messrs. Blair, Harper, Rhea and Stein were appointed to serve as members of the Compensation Committee of the Board of Directors; Messrs. Blair, Gould, Harper and Stein and Ms. Sears were appointed to serve as members of the Nominating and Corporate Governance committee of the Board of Directors; and Messrs. Bartling, Blair, Caplan, Gould, Roth and Schreiber were appointed to serve as members of the Investment and Finance Committee.

On February 6, 2017, Invitation Homes Operating Partnership LP (the Borrower) entered into the Revolving Credit and Term Loan Agreement (the New Credit Agreement) with the lenders party thereto (the Lenders), Bank of America, N.A., as administrative agent and the other parties party thereto. The New Credit Agreement provides for senior secured credit facilities (together, collectively, the New Credit Facility) consisting of a $1,000.0 million revolving credit facility (the Revolving Credit Facility), which will mature on February 6, 2021, with a one-year extension option subject to certain conditions; and a $1,500.0 million term loan facility (the Term Loan Facility), which will mature on February 6, 2022. The Revolving Credit Facility also includes borrowing capacity available for letters of credit and for short-term borrowings referred to as swing line borrowings, in each case subject to certain sublimits. The New Credit Agreement also includes the option to enter into additional incremental credit facilities (including an uncommitted incremental facility that provides the Borrower with the option to increase the size of the Revolving Facility and/or the Term Loan Facility by an aggregate commitment or principal amount of up to $1,500.0 million), subject to certain limitations.