Exhibit 99.1
Name and Address of Reporting Person: Stacy Hock
5914 W. Courtyard Drive
Suite 200
Austin, TX 78730
Issuer Name and Ticker or Trading Symbol: Brigham Minerals, Inc. [MNRL]
Date of Earliest Transaction Required
to be Reported (Month/Day/Year): December 29, 2022
Explanation of Responses
1. On December 29, 2022 (the "Closing Date"), pursuant to the Agreement and
Plan of Merger, dated as of September 6, 2022 (as amended from time to time,
the "Merger Agreement"), by and among the Issuer, Brigham Minerals Holdings,
LLC ("Opco LLC"), STR Sub Inc. (f/k/a Sitio Royalties Corp., "Old Sitio"),
Sitio Royalties Operating Partnership, LP ("Opco LP"), Sitio Royalties Corp.
(f/k/a Snapper Merger Sub I, Inc., "New Sitio"), Snapper Merger Sub IV, Inc.
("Brigham Merger Sub"), Snapper Merger Sub V, Inc. ("Sitio Merger Sub") and
Snapper Merger Sub II, LLC, New Sitio acquired the Issuer in an all-stock
transaction through: (i) the merger of Brigham Merger Sub with and into the
Issuer (the "Brigham Merger"), with the Issuer surviving as a wholly owned
subsidiary of New Sitio, (ii) the merger of Sitio Merger Sub with and into
Old Sitio (the "Sitio Merger"), with Old Sitio surviving as a wholly owned
subsidiary of New Sitio, and (iii) the merger of Opco Merger Sub LLC with
and into Opco LLC (the "Opco Merger," and, together with the Brigham Merger
and the Sitio Merger, the "Mergers"), with Opco LLC surviving as a wholly
owned subsidiary of Opco LP, in each case on the terms set forth in the
Merger Agreement.
2. Pursuant to the Merger Agreement, at the effective time of the Brigham
Merger (the "First Effective Time"), each share of Class A common stock, par
value $0.01 per share, of the Issuer (the "Class A Common Stock"), issued
and outstanding immediately prior to the First Effective Time was converted
into the right to receive 1.133 fully-paid and nonassessable shares of Class
A common stock, par value $0.0001 per share, of New Sitio (the "New Sitio
Class A Common Stock"). The total reported in this row also includes each
outstanding award of time-based restricted stock units (each, an "RSU
Award") of the Issuer, each of which vested in full immediately prior to the
First Effective Time and the shares subject to such RSU Award were treated
as shares of the Issuer's Class A Common Stock for purposes of the Merger
Agreement, which means that such shares were converted into the right to
receive 1.133 shares of New Sitio Class A Common Stock. On December 28, 2022
(the day prior to the Closing Date), the closing price of one share of the
Issuer's Class A Common Stock was $32.50.
