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Sitio Royalties, Brigham Minerals To Combine In All-stock Merger - Quick Facts

Sitio Royalties Corp. (STR) and Brigham Minerals, Inc. (MNRL) have entered into a definitive agreement to combine in an all-stock merger, with an aggregate enterprise value of approximately $4.8 billion. Brigham shareholders will receive a fixed exchange ratio of 1.133 shares of common stock in the combined company for each share of Brigham common stock, and Sitio's shareholders will receive one share of common stock in the
combined company for each share of Sitio common stock. The deal results in Sitio and Brigham shareholders receiving approximately 54% and 46% of combined company, respectively.

The combined company will operate under the name Sitio Royalties Corp, and will be led by Sitio's current executive leadership team.

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