Modification to the Proposed Pre-Packaged Chapter 11 Restructuring (12/18/18) As previously disclosed, pursuant to the Restructuring Support Agreement by and among the Company and Ares Management LLC and certain of its affiliates (collectively, “ Ares ”), the Company commenced the solicitation of votes on the Plan on October 26, 2018, by causing the Plan and a related disclosure statement to be distributed to certain creditors of the Company that are “accredited investors” (as defined in Regulation D of the Securities Act of 1933, as amended). The Plan, which remains subject to confirmation by the Bankruptcy Court and other closing conditions, provides for the treatment of holders of equity interests in the Company and the treatment of claims arising in connection with the Chapter 11 Cases. On December 12, 2018, the Company filed a modified version of the Plan (the “ Modified Plan ”), which modifies the proposed treatment of holders of Gastar’s 8.625% Series A Cumulative Preferred Stock and 10.75% Series B Cumulative Preferred Stock (collectively, the “ Existing Preferred Equity”) and holders of Gastar’s outstanding common shares (the “ Existing Common Equity”). Pursuant to the Modified Plan, holders of Existing Preferred Equity will receive their pro rata share of $150,000 in cash and the Existing Preferred Equity will be canceled. Additionally, holders of Gastar’s Existing Common Equity (excluding Ares) will receive their pro rata share of $150,000 in cash and the Existing Common Equity will be canceled. https://www.sec.gov/Archives/edgar/data/1431372/000156459018021094/gst-10q_20180630.htm