On September 29, 2016, Realty Finance Trust, Inc. and Realty Finance Operating Partnership, L.P. entered into an advisory agreement with Benefit Street Partners L.L.C. In connection with the entry into the new advisory agreement, effective September 29, 2016, Peter M. Budko resigned from his role as Chief Executive Officer and Interim President, Nicholas Radesca resigned from his role as Chief Financial Officer, Secretary and Treasurer and Boris Korotkin resigned from his role as Executive Vice President. In connection with the entry into the New Advisory Agreement, effective September 29, 2016, Peter M. Budko resigned from his role as a member of the Board. The resignations of Mr. Budko from his roles as an officer and a director of the Company and of Mr. Radesca and Mr. Korotkin from their roles as officers of the Company were not the result of any disagreement with the Company.

In addition, in connection with each of the resignations of Mr. Budko, Mr. Radesca and Mr. Korotkin, each individual has advised the Company that he will no longer be responsible for any part of any registration statement filed by the company pursuant to and consistent with 15 U.S.C. § 77k(b)(l). In connection with the entry into the New Advisory Agreement, effective as of September 29, 2016, the Board has appointed Richard Byrne as Chairman, Chief Executive Officer and President, and Jerome S. Baglien as Chief Financial Officer and Treasurer. Richard J. Byrne, has served as the President of the New Advisor since 2013.

Jerome S. Baglien, has served as chief financial officer of the New Advisor's commercial real estate group and vice president of the New Advisor since 2016. Prior to joining the New Advisor, Mr. Baglien was director of fund finance for GTIS Partners LP, where he oversaw all finance and operations for GTIS funds. In connection with the entry into the New Advisory Agree ent, effective September 29, 2016, the Board increased the size of the Board to five directors and appointed Jamie Handwerker and Buford Ortale as new independent directors of the Board to serve until their successors are duly elected at the Company's next annual meeting of stockholders or until their earlier death, resignation or removal.

Mr. Ortale began his post-M.B.A. career with Merrill Lynch's Merchant Banking Group in New York in 1987. He was subsequently a founder and Managing Director of NationsBanc's High Yield Bond Group. Ms. Handwerker, is a partner of KSH Capital.