Michael Sartori has been appointed Chief Financial Officer (principal financial officer) of Dynex Capital, Inc., effective February 26, 2026. Mr. Sartori, age 45, previously served as Head of Capital Markets and Financial Planning and Analysis at the Company since October 2019 and as Assistant Controller from August 2013 to October 2019. Robert S. Colligan mutually agreed to step down as Chief Financial Officer as of February 26, 2026, and will continue in employment as Special Advisor to the Co-CEOs through May 1, 2026, to assist with the transition. In connection with his appointment, Mr. Sartori received equity award grants including Restricted Stock Units (RSUs) valued at $350,000 and Performance Stock Units (PSUs) valued at $1,200,000 at the grant date. Mr. Colligan's departure is not the result of any disagreements with the Company on matters relating to financial disclosures, accounting, operations, policies, or practices.