On March 6, 2020 WPX Energy, Inc. consummated the previously announced acquisition of Felix Energy Holdings II, LLC pursuant to that certain Securities Purchase Agreement, dated December 15, 2019 (the “Purchase Agreement”), by and between the Company and Felix Investments Holdings II, LLC, a Delaware limited liability company (“Felix Parent”), which provided for, among other things, the Company’s acquisition of 100% of the issued and outstanding membership interests of Felix (the ‘‘Acquisition’’). Effective as of the Closing Date, pursuant to the terms of the Stockholders’ Agreement and as approved by the Board of Directors of the Company (the “Board”) on the Closing Date, D. Martin Phillips and Douglas E. Swanson, Jr. were appointed to fill two new positions on the Board and to serve thereon as independent directors. Accordingly, as of completion of the Acquisition, the Board has 12 members, consisting of the ten individuals serving on the Board prior to completion of the Acquisition, Mr. Phillips and Mr. Swanson. Mr. Phillips is expected to serve on the Nominating, Governance, and Environmental and Public Policy Committee. Mr. Swanson is expected to serve on the Board’s Compensation Committee.