Annaly Capital Management, Inc. Announces Promotions and Additions to Management Team

Annaly Capital Management, Inc. (NYSE:NLY) (Annaly) today announced a series of updates on its recent initiatives to broaden and strengthen its management team. “We are always focused on developing our people while looking to attract experienced talent from the marketplace,” said Wellington Denahan, Annaly’s Chief Executive Officer.

“Over the past year we’ve been very successful in continuing to develop and enhance our respective teams,” commented Kevin Keyes, Annaly’s President. “We’ve made significant additions in our core businesses and continue to ensure that our corporate infrastructure, including our finance, technology and risk management groups, are structured appropriately for the company’s future growth.”

Agency Investments Team Enhancements

Annaly has recently added David Finkelstein as a Managing Director to its Agency portfolio team. Mr. Finkelstein joins Annaly from the Federal Reserve Bank of New York, Markets Group. He has over 18 years of industry experience, including holding senior trading positions in the Agency MBS groups of Barclays and Citigroup. Mr. Finkelstein has a B.A. from the University of Washington and an M.B.A. from the University of Chicago Graduate School of Business.

In addition, long time Annaly veteran Nancy Murtha has been promoted to Managing Director of Annaly’s Agency portfolio team where she will undertake an expanded leadership role.

Annaly is also proud to announce that Jessica LaScala has joined as a Director in its Agency portfolio team. Ms. LaScala joins Annaly from the Federal Reserve Bank of New York. Prior to the Federal Reserve Bank of New York, Ms. LaScala worked at Citigroup for over 10 years on its Agency MBS trading desk. Ms. LaScala has a B.A. from Columbia University, Barnard College.

Expansion of Commercial Real Estate Origination Team

As part of Annaly’s expansion of its commercial real estate platform, Michael Quinn has joined Annaly to serve as Head of Equity Commercial Real Estate Investment. Mr. Quinn has over 20 years of experience in commercial real estate, including serving as a Managing Director of Morgan Stanley with senior investment responsibilities for the Morgan Stanley Real Estate Investment funds. Mr. Quinn has a B.B.A. from the University of Notre Dame.

Growth of Middle Market Lending Platform

Annaly has also added to its middle market lending platform in recent months. J. David Frost has joined Annaly as a Managing Director in Annaly’s middle market lending team. Mr. Frost has 20 years of experience in investment banking and middle market lending, including senior positions with Houlihan Lokey and Plainfield Asset Management. Mr. Frost has a B.S. from the University of Virginia, McIntire School of Commerce.

Development of Technology Infrastructure

Annaly has expanded its technology infrastructure management through the addition of Michael Maffattone as the Chief Technology Officer of Annaly. Mr. Maffattone has over 25 years of experience in systems development and business process engineering in the trading, banking and investment management industries. Most recently, Mr. Maffattone was the Chief Technology Officer of Harvard Management Company and prior to that was Chief Information Officer of Caxton Associates LLC. Mr. Maffattone has a B.S. from the City University of New York and is a graduate of the ABA Stonier Graduate School of Banking at Georgetown University.

Continued Finance, Risk and Legal Enhancements

Annaly also continues to expand its finance and risk infrastructure. Long time Annaly veterans Pete Koukouras and Konstantin Pavlov have been promoted to Head of Repo Trading and Head of Alternative Financing, respectively. In addition, Christopher Grimes has joined Annaly as a Director from CIT Group Inc. Mr. Grimes has over 20 years of experience in financial and risk management, including senior level experience in the design and operation of funding, investments and capital and enterprise risk management programs. Mr. Grimes has a B.S. from Villanova University and an M.B.A. from Fordham University.

Allison Werry has joined Annaly as a Director in Annaly’s financial and risk teams where she will focus on Annaly’s commercial real estate investments. She joins Annaly from Kroll Bond Rating Agency, Inc. where she was a senior director and Head of CMBS Surveillance. She has over 17 years of experience in which she has focused on credit risk related to commercial real estate investments. Ms. Werry has a B.S. from Cornell University.

Annaly also continues to expand its legal department through additions to its commercial real estate legal team. Sarah Fowlkes has joined Annaly as an Associate General Counsel and a Director in the commercial real estate group. She joins Annaly from Allen & Overy LLP. Ms. Fowlkes has an A.B. from Princeton University and a J.D. from Columbia Law School.

Krista Patterson has joined Annaly as an Associate General Counsel and a Vice President in the commercial real estate group. She joins Annaly from Gibson, Dunn & Crutcher LLP. Ms. Patterson has a B.A. from Duke University and a J.D. and a LL.M. in Comparative and International Law each from the Duke University School of Law.

Other Information

Annaly’s principal business objective is to generate net income for distribution to its shareholders from its investments. Annaly is a Maryland corporation that has elected to be taxed as a real estate investment trust (REIT). Annaly is managed and advised by Annaly Management Company LLC. Each of the individuals named in this release is employed by Annaly Management Company LLC and provides services to Annaly pursuant to the management agreement between Annaly and Annaly Management Company LLC.