On January 29, 2018, SailingStone Capital Partners LLC sent a letter to the Board of Directors of Antero Resources Corporation. In the letter, SailingStone Capital expressed its view that there are a number of potential transactions that the Board of Directors could pursue which would both address investors’ concerns and begin to close the significant gap that exists between the value of the Company’s shares and the underlying value of the Company’s assets. SailingStone Capital stated that it would like to meet with the Board of Directors to discuss potential strategic alternatives which, in its view, would allow the Company to: 1) accelerate debt reduction, 2) implement a material share repurchase program, 3) eliminate potential conflicts of interest resulting from the current corporate structure, and 4) improve the ability of the Company to take advantage of future dislocations in the markets. SailingStone Capital also stated that it looks forward to discussing its concerns and its ideas soon.