On August 14, 2019, the Board of Directors of Fortress Biotech, Inc. appointed Kevin L. Lorenz, J.D. as a new member of the Board. He has over 25 years of experience guiding and implementing investment strategies across public and private companies. Since 2015, Mr. Lorenz has been Chief Investment Officer, Senior Vice President, Treasury & Private Investments at the Katz Group in the family office of Daryl Katz, which has operations in sports and entertainment, real estate and public and private investments. Mr. Lorenz works directly with the principal of the Katz Group to oversee the design, implementation and monitoring of the overall investment strategy for public and private passive investments.