On August 2, 2023, Kristen McWatters notified Battalion Oil Corporation that, effective as of August 4, 2023, she would resign from her position as executive vice president, and Treasurer of the company to pursue other opportunities. Mrs. McWatters has confirmed that her departure was not the result of any disagreement with the company on any matter relating to how the Company has operated, its policies or its practices, including its controls or financial related matters. The Board of Directors of the Company has determined that, based on his educational background and business experience, Matthew B. Steele, the Company?s Chief Executive Officer, is financially proficient.

Mrs. McWatters?s former duties will be performed by the company?s existing finance team under the supervision of Mr. Steele and, in that capacity, Mr. Steele has assumed the responsibilities of principal financial officer of the company, effective immediately.