Pursuant to a special resolution passed by the shareholders and optionholders of Lynden Energy Corp. on May 12, 2016, and approval of the Supreme Court of British Columbia on May 13, 2016, Lynden, Earthstone Energy Inc. and 1058286 B.C. Ltd. have completed a plan of arrangement under Section 288 of the British Columbia Business Corporations Act. The plan of arrangement was completed on Wednesday, May 18, 2016, and has resulted in Earthstone, through its wholly owned subsidiary, 1058286 B.C., acquiring all of the issued and outstanding Lynden common shares other than those (if any) held by Earthstone, and merging Lynden with 1058286 B.C. Lynden shareholders received 0.02842 of a share of Earthstone common stock for each common share of Lynden held. Because the Lynden optionholders were not entitled to receive any shares of Earthstone common stock based on the method of calculation provided in the plan of arrangement, the Lynden optionholders were paid 0.1 U.S. cent for every Lynden option.

Effective at the close of business, Thursday, May 19, 2016, the Lynden common shares will be delisted from the TSX Venture Exchange at the request of the company.