Dynex Capital, Inc. announced that Stephen J. Benedetti, Executive Vice President, Chief Financial Officer, Chief Operating Officer, and Secretary will step down from his positions with the company, effective as of the close of business on August 5, 2022. Robert S. Colligan will succeed Mr. Benedetti, and become the Company's Executive Vice President, Chief Financial Officer and Secretary, effective as of the close of business on August 5, 2022. Mr. Benedetti will continue his employment with the Company through August 31, 2022, to transition his duties and responsibilities and assist with various projects.

Mr. Benedetti has served as the Company's CFO since 2008. Mr. Colligan will join Dynex on July 18, 2022. Mr. Colligan, 51, joins the Company after serving as the Chief Financial Officer at Chimera Investment Corporation, a real estate investment trust with a focus on residential mortgage loans, asset securitization, and mortgage-related securities.

Mr. Colligan previously served as Controller at Starwood Capital Group. Earlier in his career, Mr. Colligan worked for Merrill Lynch and Bear Stearns on financial reporting, strategy and investor relations matters. Mr. Colligan began his career at PricewaterhouseCoopers serving audit clients and later served tax clients from the firm's national tax department.

Mr. Colligan received a Masters in Taxation from George Washington University and a Bachelor of Science degree in accounting from Villanova University. Mr. Colligan is a Certified Public Accountant.