On March 28, 2024, SilverBow Resources, Inc announced that it has filed its preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with the Company?s 2024 annual meeting of shareholders and urged shareholders to vote for the Company?s proposed slate ? Gabriel L. Ellisor, Kathleen McAllister and Charles W. Wampler ? over Kimmeridge?s conflicted nominees and against its proposal to remove a director, Lee Jourdan.

The Company added that it has sent a letter to its shareholders in connection with the 2024 Annual Meeting highlighting: i) The successful implementation of the Company?s strategy to drive positive business momentum and deliver substantial shareholder value; ii) Recent governance enhancements that the Company has made and that the Board of Directors is proposing at the 2024 Annual Meeting to serve shareholders? best interests; iii) the Company?s extensive history of engagement with Kimmeridge Energy Management Company, LLC to find a path toward a value-creating transaction for ALL the Company shareholders; iv)The Board?s decision to NOT nominate the nominees put forth by Kimmeridge following a comprehensive, independent process by the Board?s Nominating and Strategy Committee; v)The Board?s conclusion, after consultation with its independent financial and legal advisors, that Kimmeridge?s most recent proposal substantially undervalues the Company. The Board believes it is vital to conduct due diligence on Kimmeridge Texas Gas, as the Board and shareholders need relevant information to determine the actual value, not Kimmeridge?s assertion of value, of the KTG assets; and vi) The Board?s commitment to delivering value for ALL shareholders, including continuing to engage with Kimmeridge regarding its proposed transaction.