Edward Kovalik resigned as CEO and Chairman of the Board of Prairie Operating Co. on March 2, 2026. Gary Hanna retired as President and director of Prairie Operating Co. on March 2, 2026. Richard N. Frommer, a current Board member, has been appointed Interim President and CEO of the Company. Erik Thoresen has been appointed Chairman of the Board. Mr. Kovalik will receive a lump sum severance payment of $2,531,250, his 2025 annual incentive bonus of $750,000, and a payout of unused, accrued vacation/PTO benefits. All of Mr. Kovalik's unvested time-based restricted stock units will immediately vest, while all unvested performance-based restricted stock units will be immediately forfeited. Mr. Hanna will receive his 2025 annual incentive bonus of $675,000 and a payout of unused, accrued vacation/PTO benefits. All of Mr. Hanna's unvested time-based restricted stock units will immediately vest, and he will retain all unvested performance-based restricted stock units through the end of the applicable performance period. Both Mr. Kovalik and Mr. Hanna will retain their fully vested non-compensatory stock options but will assign their overriding royalty interests in certain Genesis/Exok assets to Otter Holdings, LLC. Both former executives have agreed to vote their beneficially owned common stock in favor of the Board's recommendations at any annual or special meeting for the next three years, and their lock-up agreements remain in full force. The Company will conduct a search for a permanent President and CEO, engaging a leading executive search firm for both internal and external candidates.