Callon Petroleum Company announced the early tender results of its previously announced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of March 1, 2024 (as it may be amended or supplemented from time to time, the "Statement"). According to information provided by D.F. King & Co Inc., the Information Agent and Tender Agent for the Offers, $641,128,000 aggregate principal amount of 2028 Notes, or approximately 98.6% of the total outstanding 2028 Notes, and $584,213,000 aggregate principal amount of 2030 Notes, or approximately 97.4% of the total outstanding 2030 Notes, were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on March 14, 2024 (the "Consent Fee Deadline"), pursuant to the Offers.

Because the withdrawal deadline relating to the Offers expired immediately after the Consent Fee Deadline, these Notes, as well as any subsequently tendered Notes, may not be withdrawn. As previously announced, the Offers are contingent upon, among other things, the closing of the merger (the "Merger") contemplated by that certain Agreement and Plan of Merger, dated January 3, 2024 (the "Merger Agreement"), by and among Callon, APA Corporation, a Delaware corporation ("APA"), and Astro Comet Merger Sub Corp., a Delaware corporation and wholly owned, direct subsidiary of APA. Callon will not be required to accept for purchase any tendered Notes or delivered Consents (as defined below) or pay the Total Consideration or the Tender Offer Consideration (as each is defined below), as applicable, if the Merger is not consummated on or prior to the Settlement Date (as defined below) (the "Merger Condition").