Annaly Capital Management, Inc.'s Board of Directors has elected David L. Finkelstein as its Chief Executive Officer and a member of the Board, effective March 13, 2020. Mr. Finkelstein will also retain his current role as Chief Investment Officer. Mr. Finkelstein succeeds Glenn Votek, who has acted as Interim CEO and President since November 2019.

Mr. Votek has been named as Senior Advisor to the Company for an interim period to ensure a smooth and orderly transition and will support the Company thereafter as a continuing member of the Board. Mr. Finkelstein has demonstrated his leadership in shaping the Company's investment and corporate strategy since joining Annaly in 2013. Mr. Finkelstein has 25 years of experience in fixed income investments.