On January 24, 2018, Monarch Alternative Capital LP announced that it has sent a letter to Resolute Energy Corporation’s chief executive officer and the Company’s board of directors. In the letter, Monarch Alternative Capital has proposed that (1) the Company increase stockholder representation on the Board by appointing 2 individuals designated by Monarch Alternative Capital to the Board as independent directors, (2) the Board form a committee consisting of the 2 Board members designated by Monarch Alternative Capital and 1 other independent Board member for the purpose of exploring potential strategic transactions, and (3) the Company engage a reputable financial advisor with deep industry expertise and relationships to assist the newly formed committee and Board in evaluating and executing potential strategic transactions.