On January 11, 2018, Liberty Oilfield Services Inc. (the Company), entered into a Master Reorganization Agreement with, among others, Liberty Oilfield Services Holdings LLC, (Liberty Holdings), and Liberty Oilfield Services New HoldCo LLC, (Liberty LLC). On January 11, 2018, effective simultaneously with the effectiveness of the Registration Statement, Michael Stock resigned from the Board and Christopher Wright, Peter A. Dea, William F. Kimble, N. John Lancaster, Jr., Ken Babcock, Jesal Shah, Brett Staffieri and Cary D. Steinbeck were appointed as members of the Board. In connection with the closing of the Offering, on January 17, 2018, the Company entered into a stockholders’ agreement (the “Stockholders’ Agreement”) with the Selling Shareholder, R/C IV Liberty Oilfield Services Holdings, L.P. (together with the Selling Shareholder and their affiliates “Riverstone”), Laurel Road, LLC, Laurel Road II, LLC, Concentric Equity Partners II, L.P., BRP Liberty, LLC, Bay Resource Partners, L.P. a Delaware limited partnership, Bay II Resource Partners, L.P., a Delaware limited partnership, Thomas E. Claugus, GMT Exploration, LLC, a Georgia limited liability company, and SH Ventures LOS, LLC, a Delaware limited liability company (collectively, together with Riverstone, the “Principal Stockholders”). Among other things, the Stockholders’ Agreement provides Riverstone with the right to designate a number of nominees (each such nominee, a “Riverstone Director”) to the Company’s board of directors. Messrs. Kimble, Dea and Steinbeck will serve as members on the Company's audit committee, of which Mr. Kimble will be the chairman. Pursuant to the Stockholders' Agreement, Messrs. Lancaster, Staffieri, Babcock and Shah will be deemed to be Riverstone Directors. In accordance with the Stockholders’ Agreement, Riverstone has the right to designate one additional member of the Board.