Vanguard Natural Resources Inc. and certain subsidiaries filed voluntary petitions for relief (the cases commenced thereby, the Chapter 11 Cases) under chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) in the United States Bankruptcy Court for the Southern District of Texas (the Bankruptcy Court). The Chapter 11 Cases are being administered under the caption In re Vanguard Natural Resources Inc. et al. As previously disclosed, on July 9, 2019, the Bankruptcy Court entered an order (the Confirmation Order) confirming the Amended Joint Plan of Reorganization (as Modified) of Vanguard Natural Resources Inc. and its Debtor Affiliates (the Plan) and on July 16, 2019 (the Effective Date), the Debtors consummated the Plan and emerged from the Chapter 11 Cases. As part of the transactions undertaken pursuant to the Plan, Vanguard was converted from a Delaware corporation to a Delaware limited liability company and renamed Grizzly Energy, LLC (Grizzly). Following the Effective Date and pursuant to the Plan, Randall Albert, W. Greg Dunlevy, Joseph Hurliman, Jr., Andrew Shultz, R. Scott Sloan and L. Spencer Wells will not be members of the board of managers of Grizzly . On the Effective Date, by operation of the Plan, the Board will consist of the following five members (each a “Manager” and together the Initial Managers) of a single class, with terms expiring at the annual meeting of stockholders. Kevin Asarnow is an Executive Director at RPA Advisors, LLC with 11 years of experience providing financial and turnaround advisory services to companies, boards and creditors in distressed situations. Prior to joining RPA Advisors in 2011, Mr. Asarnow was a Director at Capstone Advisory Group, LLC, a restructuring and turnaround consulting firm. Mr. Asarnow began his career as analyst at Standard & Poor’s Rating Services. Mr. Asarnow received a B.S. in Finance from Lehigh University. Patrick J. Bartels Jr. is an investment professional with 20 years of experience in distressed companies. Mr. Bartels has served as a director on over 20 public and private boards, including several oil and gas companies and several companies that are engaged in an active restructuring process. Stephen A. McDaniel is an experienced petroleum engineer and oil and gas executive with 30 years of experience in all aspects of U.S. upstream businesses. Mr. McDaniel had 15 years of experience at EnerVest Ltd., serving as President and Chief Executive Officer from 2014 to 2015.Dean E. Swick has 40 years of corporate governance, strategic planning, performance improvement, financial management, and restructuring leadership experience as a member of senior management and an advisor for public and private companies in the oilfield service, upstream, midstream, and downstream sectors. Until August 2018, Mr. Swick was a Managing Director at Alvarez & Marsal North America, LLC (“A&M”) where he served as the Co-Leader of Energy Restructuring. Mike Wichterich is the Founder and Chief Executive Officer of Three Rivers Operating Company LLC, an E&P company that has launched four Permian-focused ventures with the backing of Riverstone Holdings, NYC.