On January 24, 2018, Chapter IV Investors, LLC, sent a letter to the Board of Directors of Antero Resources Corporation encouraging Company’s Board to simplify its complex current organizational structure from 3 entities, including: (i) Antero, (ii) Antero Midstream Partners, LP (NYSE: AM) and (iii) Antero Midstream GP LP (NYSE: AMGP) into a 2 entity (upstream and midstream) structure in 2018 with the GP-IDR (owned by AMGP) being eliminated. Chapter IV stated that its goals are to encourage (i) better alignment of various equity stakeholder interests, (ii) reduced potential for future conflicts of interest and (iii) ‘best-in-class’ corporate governance across the Antero family of entities. In addition, Chapter IV expressed its view that its suggested organizational simplification would make Company’s common stock a more attractive risk/reward proposition for investors and contribute to the long-term maximization of the value of Company’s stock.