On February 19, 2021, Sierra Income Corporation’s board of directors appointed Stephen R. Byers, a member of the Board since February 2012 and the Lead Independent Director of the Board since July 2019, as the Chairman of the Board, effective immediately. Mr. Byers was appointed in the place of Seth Taube, who previously served as both the Chairman of the Board and Chief Executive Officer of the Company. Mr. Taube will continue to serve as the Company’s Chief Executive Officer and as a member of the Board. In addition, the Board appointed Matthew E. Forstenhausler, a member of the Board since March 2020, as the Chairman of the Audit Committee, effective immediately. Mr. Forstenhausler was appointed in the place of Mr. Byers, who previously served as the Chairman of the Audit Committee. Mr. Byers will continue to serve as a member of the Audit Committee.