based on Mid-Cons current expectations. The words and phrases should, could, may, will,
believe, plan, intend, expect, potential, possible, anticipate, estimate, forecast, view, efforts, goal
and similar expressions identify forward-looking statements and express Mid-Cons expectations about future events. All statements, other than statements of historical facts, included in this
communication that address activities, events or developments that Mid-Con expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a
number of assumptions, risks and uncertainties, many of which are beyond Mid-Cons or Contangos control. Consequently, actual future results could differ materially from Mid-Cons expectations due to a number of factors, including, but not limited to: the risk that Mid-Cons and Contangos businesses will not be integrated
successfully; the risk that the cost savings, synergies and growth from the Proposed Merger may not be fully realized or may take longer to realize than expected; the diversion of management time on transaction-related issues; the effect of future
regulatory or legislative actions on the companies or the industries in which they operate; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the risk that a condition to
closing of the Proposed Merger may not be satisfied; the length of time necessary to consummate the Proposed Merger, which may be longer than anticipated for various reasons; potential liability resulting from pending or future litigation; changes
in the general economic environment, or social or political conditions, that could affect the businesses; the potential impact of the announcement or consummation of the Proposed Merger on relationships with customers, suppliers, competitors,
management and other employees; the effect of this communication of the Proposed Merger on Mid-Cons unit price or Contangos stock price; the ability to hire and retain key personnel; reliance on
and integration of information technology systems; the risks associated with assumptions the parties make in connection with the parties critical accounting estimates and legal proceedings; the volatility of oil, gas and natural gas liquids
(NGL) prices; uncertainties inherent in estimating oil, gas and NGL reserves; the impact of reduced demand for Mid-Cons and Contangos products and products made from them due to governmental and
societal actions taken in response to the COVID-19 pandemic; the uncertainties, costs and risks involved in Mid-Cons and Contangos operations, including as a
result of employee misconduct; natural disasters, pandemics, epidemics (including COVID-19 and any escalation or worsening thereof) or other public health conditions; counterparty credit risks; risks relating
to Mid-Cons and Contangos indebtedness; risks related to Mid-Cons and Contangos hedging activities; competition for assets, materials, people and
capital; regulatory restrictions, compliance costs and other risks relating to governmental regulation, including with respect to environmental matters; cyberattack risks; Mid-Cons and Contangos
limited control over third parties who operate some of their respective oil and gas properties; midstream capacity constraints and potential interruptions in production; the extent to which insurance covers any losses
Mid-Con and Contango may experience; risks related to investors attempting to effect change; general domestic and international economic and political conditions, including the impact of COVID-19; and changes in tax, environmental and other laws, including court rulings, applicable to Mid-Cons and Contangos business.
In addition to the foregoing, the COVID-19 pandemic and its related repercussions have created
significant volatility, uncertainty and turmoil in the global economy and Mid-Cons and Contangos industry. This turmoil has included an unprecedented supply-and-demand imbalance for oil and other commodities, resulting in a swift and material decline in commodity prices in early 2020. Mid-Cons and
Contangos future actual results could differ materially from the forward-looking statements in this communication due to the COVID-19 pandemic and related impacts, including, by, among other things:
contributing to a sustained or further deterioration in commodity prices; causing takeaway capacity constraints for production, resulting in further production shut-ins and additional downward pressure on
impacted regional pricing differentials; limiting Mid-Cons and Contangos ability to access sources of capital due to disruptions in financial markets; increasing the risk of a downgrade from credit
rating agencies; exacerbating counterparty credit risks and the risk of supply chain interruptions; and increasing the risk of operational disruptions due to social distancing measures and other changes to business practices. Additional information
concerning other risk factors is also contained in Mid-Cons and Contangos most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on
Form 10-Q, Current Reports on Form 8-K and other SEC filings.
Many of these risks, uncertainties and assumptions are beyond Mid-Cons or Contangos
ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Nothing in this communication is intended, or is to be construed, as a profit forecast or
to be interpreted to mean that earnings per share or unit of Mid-Con and Contango, as applicable, for the current or any future financial years or those of the combined company will necessarily match or exceed
the historical published earnings per share or unit of Mid-Con and Contango, as applicable. Mid-Con does not give any assurance (1) that