Liquidating Trust; Share Exchange
On December 18, 2023, Riviera Resources, Inc. (the “Company”) transferred all of the Company’s assets and liabilities to the Riviera Resources Liquidating Trust (the “Trust”) pursuant to a Liquidating Trust Agreement that generally empowers the Trust to complete the dissolution and wind-down of the Company’s business and affairs in compliance with Section 281(b) of the Delaware General Corporation Law. The Company ceased to exist as a Delaware corporation on December 18, 2023.

Further, each former shareholder of Riviera Resources, Inc., automatically and without any further action by such former shareholder, received Trust Interests in exchange for its shares of the Company’s outstanding shares of common stock on a 1-to-1 basis, which created a reportable tax event with an aggregate estimated fair value of $34.3 million (approximately $0.59 per share). The Trust Interests that each former stockholder received reflect such holder’s pro rata ownership interest in the Trust’s residual assets.

Cash Distribution
On December 15, 2023, The Company approved a cash distribution of $19.661 million (approximately $0.34 per share), payable to the Company’s former shareholders (current Trust beneficiaries) on January 12, 2024.

Please note: Our Address has changed to PO Box 550729 Houston, TX 77255

In accordance with the Company’s plan of dissolution, winding up and liquidation of the Company (the “Plan of Liquidation and Dissolution”), the Company filed a certificate of dissolution with the Delaware Secretary of State on December 18, 2020, at which time the Company’s transfer books and records were closed and the Company’s common stock ceased trading on the OTCQX Market, effective as of 4:00 p.m.Eastern time zone on December 21, 2020. In accordance with the General Corporation Law of the State of Delaware, the Company’s sole purpose is winding up the business affairs of the Company in accordance with the Plan of Liquidation and Dissolution. Limited financial statements are available for verified shareholders of Riviera Resources, Inc. Shareholders may contact the Riviera Resources Liquidating Trust at 281-840-4000 for additional information on obtaining statements. Please note, Riviera Resources and its affiliates no longer own or operate any leases. Royalty owners should refer to previous communications from the Company and contact the purchaser of Riviera’s interest in their leases for information related to royalty payments.