PDC Energy, Inc. increased the size of the Board by two members and appointed Lynn A. Peterson, the former President, Chief Executive Officer and Chairman of the Board of SRC, and Paul J. Korus, a former member of the board of directors of SRC, as directors pursuant to the terms of the Merger Agreement. Mr. Peterson will serve as a Class I director with a term ending at the annual PDC stockholders meeting in 2020, and Mr. Korus will serve as a Class III director with a term ending at the annual PDC stockholders meeting in 2022. The Board has determined to not appoint Messrs. Peterson and Korus to any committees of the Board at the time of their appointments.