On February 3, 2017, Mr. Jaegu Nam notified EP Energy Corporation of his resignation from the company's board of directors (the board), effective February 9, 2017. Mr. Nam's resignation was made at the direction of Korea National Oil Corporation (the KNOC Sponsor) in connection with a rotational assignment and did not result from a disagreement with the company on any matter relating to the company's operations, policies or practices, including its controls or financial related matters. Pursuant to its director appointment rights under the company's stockholders agreement dated August 30, 2013, the KNOC Sponsor designated Mr. Giljoon Sinn to replace Mr. Nam on the board, effective as of February 9, 2017, which designation was approved by the company's board. Mr. Sinn is also expected to serve on the board's Compensation and Governance & Nominating Committees.