Callon Petroleum Company announced L. Richard Flury's intention to retire from the Board of Directors following the 2023 Annual Meeting of Shareholders. Mr. Flury has served as director of the Company for nineteen years and as Board Chair since 2017. Prior to joining the Board, he spent a 30-year career with BP plc and predecessor entities in roles of increasing responsibility including as Chief Executive for Gas, Power and Renewables.

Mr. Flury's previous board service includes McDermott International, Chicago Bridge and Iron Company where he served as board chair, and QEP Resources Inc. In preparation for Mr. Flury's forthcoming retirement, the Board has named independent director Matthew R. Bob as Chair-elect and expects to appoint him as Chair immediately following the upcoming Annual Meeting. Mr. Bob has served on the Callon Board since 2014 and is currently Chair of the Compensation Committee. He recently retired as President of Eagle Oil & Gas Co.

A registered geoscientist, he is also the founder and managing member of MB Exploration, LLC. Mr. Bob previously served as a director of Southcross Energy Partners, a natural gas processing and transportation company in South Texas, prior to its acquisition by Targa Resources Corp. Pursuant to the Company's mandatory retirement policy, director James M. Trimble will also retire from the Board at the upcoming Annual Meeting after nine years of distinguished service.

Mr. Flury and Mr. Trimble's retirements are a continuation of Callon's planned Board refreshment and commitment to good governance.