Document:

EX-10.1

 Exhibit 10.1 

$300,000,000 
 RANGE
RESOURCES CORPORATION 
 9.25% Senior Notes due 2026 

Purchase Agreement 

August 18, 2020 
 J.P. Morgan Securities LLC

 As Representative of the 
 several Initial Purchasers listed

 in Schedule 1 hereto 
  

	c/o	 J.P. Morgan Securities LLC 

383 Madison Avenue 
 New York, New
York 10179 
 Ladies and Gentlemen: 
 Range
Resources Corporation, a Delaware corporation (the “Company”), proposes to issue and sell to the several initial purchasers listed in Schedule 1 hereto (the “Initial Purchasers”), for whom you are acting as
representative (the “Representative”), $300,000,000 principal amount of its 9.25% Senior Notes due 2026 (the “Securities”) to be issued under an indenture dated as of January 24, 2020 (the
“Indenture”) among the Company, the Subsidiary Guarantors (as defined below) and U.S. Bank National Association, as trustee (the “Trustee”). 

The Company had previously issued $550,000,000 principal amount of its 9.25% Senior Notes due 2026 pursuant to the Indenture (the
“Existing Securities”). The Securities constitute “Additional Notes” under the Indenture. The Securities will have identical terms to the Existing Securities and will be treated as a single class of notes with the Existing
Securities for all purposes under the Indenture. 
 The Securities will be sold to the Initial Purchasers without being registered under the
Securities Act of 1933, as amended (the “Securities Act”), in reliance upon an exemption therefrom. The Company has prepared a preliminary offering memorandum dated August 18, 2020 (the “Preliminary Offering
Memorandum”) and will prepare an offering memorandum dated the date hereof (the “Offering Memorandum”) setting forth information concerning the Company, the Subsidiary Guarantors (as defined below) and the Securities.
Copies of the Preliminary Offering Memorandum have been, and copies of the Offering Memorandum will be, delivered by the Company to the Initial Purchasers pursuant to the terms of this purchase agreement (the “Agreement”). The

 
Company hereby confirms that it has authorized the use of the Preliminary Offering Memorandum, the other Time of Sale Information (as defined below) and the Offering Memorandum in connection with
the offering and resale of the Securities by the Initial Purchasers in the manner contemplated by this Agreement. Capitalized terms used but not defined herein shall have the meanings given to such terms in the Preliminary Offering Memorandum.
References herein to the Preliminary Offering Memorandum, the Time of Sale Information and the Offering Memorandum shall be deemed to refer to and include any document incorporated by reference therein and any reference to “amend,”
“amendment” or “supplement” with respect to the Preliminary Offering Memorandum or the Offering Memorandum shall be deemed to refer to and include any documents filed after such date and incorporated by reference therein. 

At or prior to the time when sales of the Securities were first made (the “Time of Sale”), the Company had prepared the
following information (collectively, the “Time of Sale Information”): the Preliminary Offering Memorandum, as supplemented and amended by the written communications listed on Annex C hereto. 

Holders of the Securities (including the Initial Purchasers and their direct and indirect transferees) will be entitled to the benefits of a
Registration Rights Agreement, to be dated the Closing Date (as defined below) (the “Registration Rights Agreement”), pursuant to which the Company and the Subsidiary Guarantors will agree to file one or more registration statements
with the Securities and Exchange Commission (the “Commission”) providing for the registration under the Securities Act of the Securities or the Exchange Securities referred to (and as defined) in the Registration Rights Agreement
and the related Guarantees (as defined in the Indenture). 
 Each of the Company and each of the Subsidiary Guarantors hereby confirms,
jointly and severally, its agreement with the several Initial Purchasers concerning the purchase and resale of the Securities, as follows: 

1.    Purchase and Resale of the Securities. (a) The Company agrees to issue and sell the Securities to the
several Initial Purchasers as provided in this Agreement, and each Initial Purchaser, on the basis of the representations, warranties and agreements set forth herein and subject to the other terms and conditions set forth herein, agrees, severally
and not jointly, to purchase from the Company the respective principal amount of Securities set forth opposite such Initial Purchaser’s name in Schedule 1 hereto at a price equal to 98.75% of the principal amount thereof plus accrued interest
from August 1, 2020 to the Closing Date. The Company will not be obligated to deliver any of the Securities except upon payment for all the Securities to be purchased as provided herein. 

  
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 (b)    Each of the Company and the Subsidiary Guarantors
understands that the Initial Purchasers intend to offer the Securities for resale on the terms set forth in the Time of Sale Information. Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 

(i)    it is a qualified institutional buyer within the meaning of Rule 144A under the Securities Act (a
“QIB”) and an accredited investor within the meaning of Rule 501(a) of Regulation D under the Securities Act (“Regulation D”); 

(ii)    it has not solicited offers for, or offered or sold, and will not solicit offers for, or offer or
sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act;
and 
 (iii)    it has not solicited offers for, or offered or sold, and will not solicit offers for, or
offer or sell, the Securities as part of their initial offering except 
 (A) to persons whom it reasonably believes to be
QIBs in transactions pursuant to Rule 144A under the Securities Act (“Rule 144A”) and in connection with each such sale, it has taken or will take reasonable steps to ensure that the purchaser of the Securities is aware that such sale
is being made in reliance on Rule 144A; or 
 (B) in accordance with the restrictions set forth in Annex E hereto. 

(c)    Each Initial Purchaser acknowledges and agrees that the Company and, for purposes of the “no
registration” opinions to be delivered to the Initial Purchasers pursuant to Sections 6(f) and 6(g), counsel for the Company and counsel for the Initial Purchasers, respectively, may rely upon the accuracy of the representations and warranties
of the Initial Purchasers, and compliance by the Initial Purchasers with their agreements, contained in paragraph (b) above (including Annex E hereto), and each Initial Purchaser hereby consents to such reliance. 

(d)    Each of the Company and the Subsidiary Guarantors acknowledges and agrees that the Initial
Purchasers may offer and sell Securities to or through any affiliate of an Initial Purchaser and that any such affiliate may offer and sell Securities purchased by it to or through any Initial Purchaser. 

  
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 (e)    Each of the Company and Subsidiary Guarantors
acknowledges and agrees that each Initial Purchaser is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the offering of Securities contemplated hereby (including in connection with
determining the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any other person. Additionally, neither the Representative nor any other Initial Purchaser is advising the Company or any other
person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The Company shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and
appraisal of the transactions contemplated hereby, and the Initial Purchasers shall have no responsibility or liability to the Company with respect thereto. Any review by the Initial Purchasers of the Company, the transactions contemplated hereby or
other matters relating to such transactions will be performed solely for the benefit of the Initial Purchasers, and shall not be on behalf of the Company. 

2.    Payment and Delivery. (a) Payment for and delivery of the Securities will be made at the offices of
Davis Polk & Wardwell LLP, 450 Lexington Avenue, New York, New York 10017 at 10:00 A.M., New York City time, on September 1, 2020, or at such other time or place on the same or such other date, not later than the fifth business day
thereafter, as the Representative and the Company may agree upon in writing. The time and date of such payment and delivery is referred to herein as the “Closing Date.” 

(b)    Payment for the Securities shall be made by wire transfer in immediately available funds to the
account(s) specified by the Company to the Representative against delivery to the nominee of The Depository Trust Company (“DTC”), for the account of the Initial Purchasers, of one or more global notes representing the Securities
(collectively, the “Global Note”), with any transfer taxes payable in connection with the sale of the Securities duly paid by the Company. 

3.    Representations and Warranties of the Company and the Subsidiary Guarantors. The Company and the Subsidiary
Guarantors jointly and severally represent and warrant to each Initial Purchaser that: 

(a)    Preliminary Offering Memorandum, Time of Sale Information and Offering Memorandum. The
Preliminary Offering Memorandum, as of its date, did not, the Time of Sale Information, at the Time of Sale, did not, and at the Closing Date, will not, and the Offering Memorandum, as of its date and as of the Closing Date, will not, contain any
untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company and the Subsidiary
Guarantors make no representation and warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Initial Purchaser furnished to the Company

  
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in writing by such Initial Purchaser through the Representative expressly for use in the Preliminary Offering Memorandum, the Time of Sale Information or the Offering Memorandum. 

(b)    Additional Written Communications. The Company (including its agents and representatives,
other than the Initial Purchasers in their capacity as such) has not made, used, prepared, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any “written communication” (as defined in Rule
405 under the Securities Act) that constitutes an offer to sell or solicitation of an offer to buy the Securities (including the Guarantees) (each such communication by the Company or its agents and representatives (other than a communication
referred to in clauses (i), (ii) and (iii) below) an “Issuer Written Communication”) other than (i) the Preliminary Offering Memorandum, (ii) the Offering Memorandum, (iii) the documents listed on Annex C hereto,
including a term sheet substantially in the form of Annex D hereto, which constitute part of the Time of Sale Information, and (iv) any electronic road show or other written communications, in each case used in accordance with
Section 4(c). Each such Issuer Written Communication, when taken together with the Time of Sale Information, did not as of the Time of Sale, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation and warranty with respect to any statements or
omissions made in each such Issuer Written Communication in reliance upon and in conformity with information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use
in any Issuer Written Communication. 
 (c)    Incorporated Documents. The documents incorporated
by reference in the Time of Sale Information or the Offering Memorandum, when they were filed with the Commission, conformed in all material respects to the requirements of the Securities Act or the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission thereunder (collectively, the “Exchange Act”), as applicable, and none of such documents contained any untrue statement of a material fact or omitted to state a material fact required to
be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and any further documents so filed and incorporated by reference in the Offering Memorandum or the Time of
Sale Information, when such documents become effective or are filed with the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act or the Exchange Act, as applicable, and will not contain any
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

  
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 (d)    Financial Statements. The audited
financial statements of the Company included or incorporated by reference in the Time of Sale Information and the Offering Memorandum, together with the related notes and schedules, comply in all material respects with the applicable requirements of
the Securities Act and the Exchange Act, as applicable, and present fairly in all material respects the consolidated financial position of the Company and its subsidiaries as of the dates indicated and the consolidated results of operations and cash
flows of the Company and its subsidiaries for the periods specified and have been prepared in compliance in all material respects with the requirements of the Exchange Act and in conformity with generally accepted accounting principles
(“GAAP”) applied on a consistent basis during the periods involved and the supporting schedules included or incorporated by reference in the Time of Sale Information and the Offering Memorandum present fairly the information
required to be stated therein. The other financial and accounting data, including the unaudited financial statements, included or incorporated by reference in the Time of Sale Information and the Offering Memorandum, have been derived from the
accounting records of the Company and its subsidiaries and present fairly the information shown therein, in all material respects. The interactive data in eXtensbile Business Reporting Language included or incorporated by reference in the Time of
Sale Information and the Offering Memorandum fairly presents the information called for in all material respects and is prepared in accordance with the Commission’s rules and guidelines applicable thereto. 

(e)    No Material Adverse Change. Subsequent to the respective dates as of which information is
given or incorporated by reference in the Time of Sale Information and the Offering Memorandum (exclusive of any amendment or supplement thereto), and except as may be otherwise stated or incorporated by reference in the Time of Sale Information and
the Offering Memorandum, there has not been (A) any material and unfavorable change, financial or otherwise, in the business, properties, prospects, regulatory environment, results of operations or condition (financial or otherwise) of the
Company and its subsidiaries, taken as a whole, (B) any transaction entered into by the Company or any of its subsidiaries, which is material to the Company and its subsidiaries, taken as a whole, or (C) any obligation, contingent or
otherwise, directly or indirectly, incurred by the Company or any of its subsidiaries which is material to the Company and its subsidiaries, taken as a whole. 

(f)    Organization and Good Standing of the Company. The Company has been duly incorporated and is
validly existing as a corporation in good standing under the laws of the State of Delaware, with 

  
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full corporate power and authority to own, lease and operate its properties and conduct its business in all material respects as described in the Time of Sale Information and the Offering
Memorandum. The Company is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction where the ownership or leasing of its properties or the conduct of its business requires such qualification, except where
the failure to be so qualified and in good standing would not, individually or in the aggregate, have a material adverse effect on the operations, business, prospects, properties, financial condition or results of operation of the Company and its
subsidiaries taken as a whole (a “Material Adverse Effect”). 
 (g)    Organization
and Good Standing of Subsidiary Guarantors. Range Louisiana Operating, LLC; Range Production Company, LLC; Range Resources - Appalachia, LLC; Range Resources – Louisiana, Inc.; Range Resources - Midcontinent, LLC; and Range Resources - Pine
Mountain, Inc. (the “Subsidiary Guarantors”), include each subsidiary of the Company that constitutes a “significant subsidiary” of the Company as defined by Rule 1-02 of Regulation
S-X; no other subsidiaries of the Company would, individually or in the aggregate, constitute such a significant subsidiary; each Subsidiary Guarantor has been duly organized and is validly existing as a
corporation, limited liability company or limited partnership and (in those jurisdictions in which good standing is a relevant concept for such type of entity) is in good standing under the laws of the jurisdiction of its organization, with full
corporate, limited liability company or partnership power and authority to own, lease and operate its properties and to conduct its business in all material respects as described in the Time of Sale Information and the Offering Memorandum; each
Subsidiary Guarantor is duly qualified to do business as a foreign corporation, limited liability company or limited partnership and (in those jurisdictions in which good standing is a relevant concept for such type of entity) is in good standing in
each jurisdiction where the ownership or leasing of its properties or the conduct of its business requires such qualification, except where the failure to be so qualified and in good standing would not, individually or in the aggregate, have a
Material Adverse Effect; all of the outstanding shares of capital stock of each of Range Resources – Louisiana, Inc. and Range Resources – Pine Mountain, Inc. have been duly and validly authorized and issued, are fully paid and non-assessable, the outstanding membership interests of Range Louisiana Operating, LLC, has been issued in accordance with the organizational documents of Range Louisiana Operating, LLC, the outstanding membership
interests of Range Production Company, LLC, has been issued in accordance with the organizational documents of Range Production Company, LLC, the outstanding membership interests of Range Resources - Appalachia, LLC, has been issued in accordance
with the organizational documents of Range Resources - Appalachia, 

  
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LLC, and the outstanding membership interests of Range Resources - Midcontinent, LLC, has been issued in accordance with the organizational documents of Range Resources - Midcontinent, LLC, and,
except as described in the Time of Sale Information and the Offering Memorandum, are owned, directly or indirectly, by the Company, subject to no security interest, other encumbrance or adverse claims. 

(h)    Capitalization. The Company had the capitalization as set forth under the column heading
entitled “Actual” in the section of the Time of Sale Information and the Offering Memorandum entitled “Capitalization,” and, as adjusted to give effect to the offering of the Securities, the consummation of tender offers to
purchase certain of the Company’s senior notes for cash using the assumptions set forth in the “Capitalization” section of the Time of Sale Information and the Offering Memorandum, and by application of the net proceeds therefrom as
described in the “Use of Proceeds” section of the Time of Sale Information and the Offering Memorandum; assuming the accuracy of the transaction expenses and the pricing terms for the offering of the Securities used in the section of the
Time of Sale Information and the Offering Memorandum entitled “Capitalization,” the Company would, as of June 30, 2020, have had the capitalization as set forth under the column heading entitled “As adjusted” in the section
of the Time of Sale Information and the Offering Memorandum entitled “Capitalization”; all of the issued and outstanding shares of capital stock of the Company have been duly authorized and validly issued and are fully paid and non-assessable. 
 (i)    Due Authorization. The Company and
each of the Subsidiary Guarantors have full right, power and authority to execute and deliver this Agreement, the Securities, the Exchange Securities (including the related Exchange Guarantees, as defined in the Registration Rights Agreement) and
the Registration Rights Agreement (collectively, the “Transaction Documents”) and to perform their respective obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and
delivery of each of the Transaction Documents and the consummation of the transactions contemplated thereby has been duly and validly taken. 

(j)    The Indenture. The Indenture has been duly authorized, executed and delivered by the Company
and the Subsidiary Guarantors; assuming the due execution and delivery in accordance with its terms by the Trustee, the Indenture constitutes a legal, valid and binding agreement of the Company and each of the Subsidiary Guarantors, enforceable
against the Company and each of the Subsidiary Guarantors in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting
creditors’ rights generally and general principles of equity; and the Indenture conforms in all material respects to 

  
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the requirements of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), and the rules and regulations of the Commission applicable to an indenture that is
qualified thereunder. 
 (k)    The Guarantees. The Guarantees, as defined in the Indenture, have
been duly authorized, executed and delivered by the Subsidiary Guarantors, and, assuming the due authorization, execution and delivery of the Securities by the Trustee and upon payment for and delivery of the Securities in accordance with the
Purchase Agreement, each Guarantee will constitute a legal, valid and binding agreement of each Subsidiary Guarantor, enforceable against each Subsidiary Guarantor in accordance with its terms except that the enforceability thereof may be limited by
bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is considered in a proceeding in equity or at law, and the
discretion of the court before which any proceeding therefor may be brought. 
 (l)    The
Securities. The Securities have been duly authorized by the Company and when duly executed and delivered by the Company and duly authenticated by the Trustee in accordance with the terms of the Indenture and delivered to and paid for by the
Initial Purchasers in accordance with the terms hereof, will constitute legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforceability thereof may be limited by
bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting creditors’ rights generally and general principles of equity, and will be entitled to the benefits of the Indenture. 

(m)    The Exchange Guarantees. On the Closing Date, the Exchange Guarantees (as defined in the
Registration Rights Agreement), will have been duly authorized by the Subsidiary Guarantors, and when duly executed and delivered as contemplated by the Registration Rights Agreement and assuming the due authorization, execution and delivery of the
Exchange Securities by the Trustee, will constitute a legal, valid and binding agreement of each Subsidiary Guarantor, enforceable against each Subsidiary Guarantor in accordance with its terms except that the enforceability thereof may be limited
by bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is considered in a proceeding in equity or at law, and the
discretion of the court before which any proceeding therefor may be brought. 
 (n)    The Exchange
Securities. On the Closing Date, the Exchange Securities (as defined in the Registration Rights Agreement) will have been duly authorized by the Company and, when duly executed and 

  
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delivered as contemplated by the Registration Rights Agreement and duly authenticated by the Trustee in accordance with the terms of the Indenture, will constitute legal, valid and binding
obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting
creditors’ rights generally and general principles of equity, and will be entitled to the benefits of the Indenture. 

(o)    Purchase and Registration Rights Agreements. This Agreement has been duly authorized by the
Company and each of the Subsidiary Guarantors, and has been executed and delivered by the Company and by each of the Subsidiary Guarantors; and the Registration Rights Agreement has been duly authorized by the Company and each of the Subsidiary
Guarantors and on the Closing Date will be duly executed and delivered by the Company and each of the Subsidiary Guarantors and, when duly executed and delivered in accordance with its terms by each of the parties thereto, will constitute a valid
and legally binding agreement of the Company and each of the Subsidiary Guarantors, enforceable against the Company and each of the Subsidiary Guarantors in accordance with its terms, except that (A) the enforceability thereof may be limited by
bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is considered in a proceeding in equity or at law, and the
discretion of the court before which any proceeding therefor may be brought and (B) the rights to indemnity and contribution may be limited by applicable law, rule, regulation or judicial determination or interpretation of the Commission. 

(p)    Descriptions of the Transaction Documents. Each Transaction Document conforms in all material
respects to the description thereof contained in the Time of Sale Information and the Offering Memorandum. 

(q)    No Violation, Default or Conflicts. Neither the Company nor any of its Subsidiary Guarantors
is in breach or violation of, or in default under (nor has any event occurred which with notice, lapse of time or both would result in any breach or violation of, or constitute a default), (i) its respective charter or bylaws or similar
organizational documents or (ii) any indenture, mortgage, deed of trust, bank loan or credit agreement or other evidence of indebtedness, or any material license, material lease, material contract or other material agreement or material
instrument to which the Company or any of its Subsidiary Guarantors is a party or by which any of them or any of their properties may be bound, or under any federal, state, local or foreign law, regulation or rule or any decree, judgment or order
applicable to the Company or any of its Subsidiary Guarantors; and the execution, delivery and performance of the Transaction Documents and 

  
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consummation of the transactions contemplated hereby and thereby, including the issuance of the Securities, the Guarantees, the Exchange Securities and the Exchange Guarantees, will not conflict
with, result in any breach or violation of or constitute a default under (nor constitute any event which with notice, lapse of time or both would result in any breach or violation of or constitute a default under), (x) the charter or bylaws or
similar organizational documents of the Company or any of the Subsidiary Guarantors or (y) any indenture, mortgage, deed of trust, bank loan or credit agreement or other evidence of indebtedness, or any license, lease, contract or other
agreement or instrument to which the Company or any of the Subsidiary Guarantors is a party or by which any of them or any of their properties may be bound, or (z) any federal, state, local or foreign law, regulation or rule or any decree,
judgment or order of any court or arbitrator or governmental agency having jurisdiction over the Company or any of the Subsidiary Guarantors, which conflicts, breaches, violations or defaults listed in clause (y) and (z) of this subparagraph
(q) would, individually or in the aggregate, have a Material Adverse Effect. 
 (r)    No
Consents Required. No approval, authorization, consent or order of or filing with any federal, state, local or foreign governmental or regulatory commission, board, body, authority or agency, or of or with the rules of the New York Stock
Exchange, or approval of the stockholders or members of the Company or the Subsidiary Guarantors, as applicable, is required in connection with the issuance and sale by the Company of the Securities, the issuance of the Exchange Securities by the
Company, the issuance of the Guarantees or the Exchange Guarantees by the Subsidiary Guarantors or the consummation of the transactions as contemplated hereby and by the Transaction Documents other than as may be required under (i) applicable
state securities or blue sky laws of the various jurisdictions in which the Securities are being offered by the Initial Purchasers and (ii) with respect to the Exchange Securities and Exchange Guarantees, the Securities Act, the Trust Indenture
Act and applicable state securities or blue sky laws as contemplated by the Registration Rights Agreement. 

(s)    Legal Proceedings. Except as described in the Time of Sale Information and the Offering
Memorandum, there are no actions, suits, claims, investigations or proceedings pending or, to the knowledge of the Company and the Subsidiary Guarantors after due inquiry, threatened or contemplated to which the Company or any of its subsidiaries or
any of their respective directors or officers is or would be a party or of which any of their respective properties is or would be subject, at law or in equity, or before or by any federal, state, local or foreign governmental or regulatory
commission, board, body, authority or agency, which would result in a judgment, decree or order either (A) having a Material Adverse Effect or (B) preventing the consummation of the transactions contemplated hereby and by the Indenture and
the Securities and (ii) there are no current or 

  
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pending legal, governmental or regulatory actions, suits or proceedings that are required under the Exchange Act to be described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 that are not so described in the Time of Sale Information and the Offering Memorandum. 

(t)    Independent Accountants. Ernst & Young LLP, whose report on the consolidated
financial statements of the Company is included or incorporated by reference in the Time of Sale Information and the Offering Memorandum, was at the time of such report independent public accountants with respect to the Company, as required by the
Securities Act and the Exchange Act, and the applicable published rules and regulations thereunder. 

(u)    Title to Real and Personal Property. The Company and each of the Subsidiary Guarantors has
good and marketable title to all property (real and personal) described or incorporated by reference in the Time of Sale Information and the Offering Memorandum as being owned by each of them, free and clear of all liens, claims, security interests
or other encumbrances, except as such do not materially interfere with the use of such property taken as a whole as described in the Time of Sale Information and the Offering Memorandum; all the real property described in the Time of Sale
Information and the Offering Memorandum as being held under lease by the Company or a Subsidiary Guarantor is held thereby under valid, subsisting and enforceable leases with such exceptions as do not materially interfere with the use of such
property taken as a whole as described in the Time of Sale Information and the Offering Memorandum. 

(v)    Title to Intellectual Property. Each of the Company and its Subsidiary Guarantors own, or
have obtained valid and enforceable licenses for, or other adequate rights to use, all material inventions, patent applications, patents, trademarks (both registered and unregistered), tradenames, copyrights, trade secrets and other proprietary
information in connection with the businesses now operated by them, which are necessary for the conduct of their respective businesses, except where the failure to own, license or have such rights would not, individually or in the aggregate, have a
Material Adverse Effect (collectively, “Intellectual Property”); and neither the Company nor the Subsidiary Guarantors have received any notice of infringement of or conflict with asserted rights of others with respect to any of the
foregoing which, individually or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect. 

(w)    Investment Company Act. Neither the Company nor any of the Subsidiary Guarantors is, or after
giving effect to the offering and sale of the Securities and the application of the proceeds thereof as described 

  
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in the Time of Sale Information and the Offering Memorandum will any of them be, required to register as an “investment company” under the Investment Company Act of 1940, as amended.

 (x)    Licenses and Permits. Each of the Company and its Subsidiary Guarantors has all permits,
licenses, authorizations, consents and approvals (collectively, “Permits”) as are necessary to own their properties and to conduct their business in the manner described in the Offering Memorandum, subject to such qualifications as
may be set forth in the Offering Memorandum and except for such Permits which, if not obtained, would not, individually or in the aggregate, have a Material Adverse Effect; neither the Company nor any of its Subsidiary Guarantors is in violation of,
or in default under, any such Permit, except for such impairments, violations, revocations, terminations that would not would not, individually or in the aggregate, have a Material Adverse Effect. 

(y)    No Labor Disputes. Neither the Company nor its Subsidiary Guarantors are involved in any
labor dispute with their respective employees nor, to the knowledge of the Company and the Subsidiary Guarantors, is any such dispute threatened except, in each case, for disputes which would not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect. 
 (z)    Compliance With Environmental Laws. The
Company and its subsidiaries and their properties, assets and operations are in compliance with, and hold all permits, authorizations and approvals required under, Environmental Laws (as defined below), except to the extent that failure to so comply
or to hold such permits, authorizations or approvals would not, individually or in the aggregate, have a Material Adverse Effect; there are no past or present events, conditions, circumstances, activities, practices, actions, omissions or plans that
could reasonably be expected to give rise to any costs or liabilities to the Company or its subsidiaries under Environmental Laws except as would not, individually or in the aggregate, have a Material Adverse Effect; except as would not,
individually or in the aggregate, have a Material Adverse Effect, the Company and each of its subsidiaries (i) is not the subject of any investigation, (ii) has not received any notice or claim, (iii) is not a party to or, to the
knowledge of the Company or the Subsidiary Guarantors, affected by any pending or threatened action, suit or proceeding, (iv) is not bound by any judgment, decree or order or (v) has not entered into any agreement, in each case relating to
any alleged violation of any Environmental Law or any actual or alleged release or threatened release or cleanup at any location of any Hazardous Materials (as defined below) (as used herein, “Environmental Law” means any federal,
state, local or foreign law, statute, ordinance, rule, regulation, order, decree, judgment, injunction, permit, license, authorization or other binding requirement, or common law, relating to health, safety or the

  
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protection, cleanup or restoration of the environment or natural resources, including those relating to the distribution, processing, generation, treatment, storage, disposal, transportation,
other handling or release or threatened release of Hazardous Materials, and “Hazardous Materials” means any material (including, without limitation, pollutants, contaminants, hazardous or toxic substances or wastes) that is
regulated by or may give rise to liability under any Environmental Law). 
 (aa)    Disclosure
Controls. The Company has established and maintains disclosure controls and procedures (as such term is defined in Rule 13a-15 and 15d-15 under the Exchange
Act); such disclosure controls and procedures are designed to provide reasonable assurance that material information relating to the Company, including its consolidated subsidiaries, is made known to the Company’s Chief Executive Officer and
its Chief Financial Officer by others within those entities. The Company has carried out evaluations of the effectiveness of its disclosure controls and procedures and such disclosure controls and procedures are effective in all material respects to
perform the functions for which they were established to the extent required by Rules 13a-15 and 15d-15 of the Exchange Act. The Company’s auditors and the Audit
Committee of the Board of Directors have been advised of: (i) any significant deficiencies in the design or operation of internal controls which could adversely affect the Company’s ability to record, process, summarize, and report
financial data; and (ii) any fraud known to the Company, whether or not material, that involves management or other employees who have a role in the Company’s internal controls; any material weaknesses in internal controls have been
identified for the Company’s auditors; and since the date of the most recent evaluation of such disclosure controls and procedures, there have been no significant changes in the Company’s internal controls over financial reporting that
could significantly affect the Company’s internal controls over financial reporting, including any corrective actions with regard to significant deficiencies and material weaknesses. 

(bb)    Accounting Controls. The Company and each of the Subsidiary Guarantors maintain a system of
internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific
authorization; (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (v) interactive data in eXtensbile Business Reporting
Language included or incorporated by reference in the Time of Sale Information and the Offering Memorandum is prepared in all material respects in accordance with the Commission’s rules and guidelines applicable thereto. 

  
 14 

 (cc)    Insurance. The Company and its Subsidiary
Guarantors maintain insurance of the types and in the amounts reasonably believed to be adequate for their business and consistent in all material respects with insurance coverage maintained by similar companies in similar businesses. Neither the
Company nor any Subsidiary Guarantor (i) has received notice from any insurer or agent of such insurer that substantial capital improvements or other expenditures will have to be made in order to continue such insurance or (ii) has any
reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a
Material Adverse Effect. 
 (dd)    No Other Initial Purchasers. Except as described in the Time
of Sale Information and the Offering Memorandum, no person has the right to act as an initial purchaser or as a financial advisor to the Company in connection with the offer and resale of the Securities, whether as a result of the resale of the
Securities as contemplated hereby or otherwise. 
 (ee)    Rule 144A Eligibility. On the Closing
Date, the Securities will not be of the same class as securities listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in an automated inter-dealer quotation system; and each of the Preliminary
Offering Memorandum and the Offering Memorandum, as of its respective date, contains or will contain all the information that, if requested by a prospective purchaser of the Securities, would be required to be provided to such prospective purchaser
pursuant to Rule 144A(d)(4) under the Securities Act. 
 (ff)    No Integration. Neither the
Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) has, directly or through any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act),
that is or will be integrated with the sale of the Securities in a manner that would require registration of the Securities under the Securities Act. 

(gg)    No General Solicitation or Directed Selling Efforts. None of the Company or any of its
affiliates or any other person acting on its or their behalf (other than the Initial Purchasers, as to which no representation is made) has (i) solicited offers for, or offered or sold, the Securities by means of any form of general
solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(a)(2) of 

  
 15 

 
the Securities Act or (ii) engaged in any directed selling efforts within the meaning of Regulation S under the Securities Act (“Regulation S”), and all such persons have
complied with the offering restrictions requirement of Regulation S. 
 (hh)    Securities Law
Exemptions. Assuming the accuracy of the representations and warranties of the Initial Purchasers contained in Section 1(b) (including Annex E hereto) and their compliance with their agreements set forth therein, it is not necessary, in
connection with the issuance and sale of the Securities to the Initial Purchasers and the offer, resale and delivery of the Securities by the Initial Purchasers in the manner contemplated by this Agreement, the Time of Sale Information and the
Offering Memorandum, to register the Securities under the Securities Act or to qualify the Indenture under the Trust Indenture Act. 

(ii)    No Stabilization. Neither the Company nor any affiliate has taken, directly or indirectly,
any action designed, or which has constituted or might reasonably be expected to cause or result in, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any security of the Company to facilitate the sale of the
Securities. 
 (jj)    Reserves. Other than as disclosed in the Time of Sale Information and the
Offering Memorandum, the proved reserves for crude oil and natural gas for each of the periods presented in the Time of Sale Information and the Offering Memorandum were prepared in accordance with the Statement of Financial Accounting Standards
No. 69 and Rule 4-10 of Regulation S-X. 

(kk)    Independent Petroleum Engineers. Wright & Company, Inc. are independent petroleum
engineers with respect to the Company and its subsidiaries. 
 (ll)    Sarbanes-Oxley Act. There
is and has been no failure on the part of the Company and its Subsidiary Guarantors or any of the officers and directors of the Company or any of its Subsidiary Guarantors, in their capacities as such, to comply in all material respects with the
provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations in connection therewith, including without limitation Section 402 related to loans and Sections 302 and 906 related to certifications. 

(mm)    No Unlawful Payments. Neither the Company nor any of its subsidiaries nor, to the knowledge
of the Company and each of the Subsidiary Guarantors, any director, officer, agent, employee, affiliate or other person associated with or acting on behalf of the Company or any of its subsidiaries has (i) used any corporate funds for any
unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any 

  
 16 

 
foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, and the
rules and regulations thereunder or any other applicable anti-bribery or anti-corruption law; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment. The Company and its subsidiaries have instituted,
maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable antibribery and anti-corruption laws. 

(nn)    Compliance with Money Laundering Laws. The operations of the Company and its subsidiaries
are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all
jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action,
suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any of
the Subsidiary Guarantors, threatened. 
 (oo)    No Conflicts with Sanctions Laws. None of the
Company, any of its subsidiaries or, to the knowledge of the Company or any of the Subsidiary Guarantors, any director, officer, agent, employee or affiliate of the Company or any of its subsidiaries is currently the subject of any sanctions
administered or enforced by the Office of Foreign Assets Control of the U.S. Department of the Treasury’s Office of Foreign Assets Control, the U.S. Department of State, or other relevant sanctions authority (collectively,
“Sanctions”) nor is the Company, any of its subsidiaries or any of the Subsidiary Guarantors located, organized or resident in a country or territory that is the subject or target of Sanctions, and the Company will not directly or
indirectly use the proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity for the purpose of financing the activities of
any person (i) that is the subject of any Sanctions or (ii) that is located in any country or territory that is the subject of any Sanctions. 

(pp)    Cybersecurity. (A) To the knowledge of the Company and the Subsidiary Guarantors, there
has been no material security breach or incident, unauthorized access or disclosure, or other compromise of or relating to any of the Company’s or its subsidiaries’ information technology and computer systems, networks, hardware, software,
data and databases (including the data and information of their respective customers, employees, suppliers, vendors and any third party data 

  
 17 

 
maintained, processed or stored by the Company and its subsidiaries, and any such data processed or stored by third parties on behalf of the Company and its respective subsidiaries), equipment or
technology (collectively, “IT Systems and Data”); (B) neither the Company nor its subsidiaries have been notified of, and each of them have no knowledge of any event or condition that would reasonably be expected to result in, any
material security breach or incident, unauthorized access of disclosure or other compromise to their IT Systems and Data; and (C) the Company and its subsidiaries have implemented reasonable controls, policies, procedures, and technological
safeguards to maintain and protect the integrity, continuous operation, redundancy and security of their IT Systems and Data. To the knowledge of the Company and the Subsidiary Guarantors, the Company and its subsidiaries are presently in compliance
with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT
Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification, except as would not, individually or in the aggregate, have a Material Adverse Effect. 

4.    Further Agreements of the Company and the Subsidiary Guarantors. The Company and each of the Subsidiary
Guarantors jointly and severally covenant and agree with each Initial Purchaser that: 

(a)    Delivery of Copies. The Company will deliver, without charge, to the Initial Purchasers as
many copies of the Preliminary Offering Memorandum, any other Time of Sale Information, any Issuer Written Communication and the Offering Memorandum (including all amendments and supplements thereto) as the Representative may reasonably request.

 (b)    Offering Memorandum, Amendments or Supplements. Before finalizing the Offering
Memorandum or making or distributing any amendment or supplement to any of the Time of Sale Information or the Offering Memorandum or filing with the Commission any document that will be incorporated by reference therein, the Company will furnish to
the Representative and counsel for the Initial Purchasers a copy of the proposed Offering Memorandum or such amendment or supplement or document to be incorporated by reference therein for review, and will not distribute any such proposed Offering
Memorandum, amendment or supplement or file any such document with the Commission to which the Representative reasonably objects. 

(c)    Additional Written Communications. Before preparing, using, authorizing, approving or
referring to any Issuer Written Communication, the Company and the Subsidiary Guarantors will furnish 

  
 18 

 
to the Representative and counsel for the Initial Purchasers a copy of such written communication for review and will not prepare, use, authorize, approve or refer to any such written
communication to which the Representative reasonably objects. 
 (d)    Notice to the
Representative. The Company will advise the Representative promptly, and confirm such advice in writing, (i) of the issuance by any governmental or regulatory authority of any order preventing or suspending the use of any of the Time of
Sale Information, any Issuer Written Communication or the Offering Memorandum or, to the knowledge of the Company, the initiation or threatening of any proceeding for that purpose; (ii) of the occurrence of any event at any time
prior to the completion of the initial offering of the Securities as a result of which any of the Time of Sale Information, any Issuer Written Communication or the Offering Memorandum as then amended or supplemented would include any untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing when such Time of Sale Information, Issuer Written Communication or the Offering Memorandum
is delivered to a purchaser, not misleading; and (iii) of the receipt by the Company of any notice with respect to any suspension of the qualification of the Securities for offer and sale in any jurisdiction or the initiation or, to the
knowledge of the Company, threatening of any proceeding for such purpose; and the Company will use its reasonable best efforts to prevent the issuance of any such order preventing or suspending the use of any of the Time of Sale Information, any
Issuer Written Communication or the Offering Memorandum or suspending any such qualification of the Securities and, if any such order is issued, will use its reasonable best efforts to obtain as soon as possible the withdrawal thereof. 

(e)    Time of Sale Information. If at any time prior to the Closing Date (i) any event shall
occur or condition shall exist as a result of which any of the Time of Sale Information, as then amended or supplemented, would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading or (ii) it is necessary to amend or supplement the Time of Sale Information to comply with law, the Company will immediately notify the Initial
Purchasers thereof and forthwith prepare and, subject to paragraph (b) of this Section 4 above, furnish to the Initial Purchasers such amendments or supplements to the Time of Sale Information (or any document to be filed with the
Commission and incorporated by reference therein) as may be necessary so that the statements in any of the Time of Sale Information as so amended or supplemented (including such documents to be incorporated by reference therein) will not, in the
light of the circumstances under which they were made, be misleading or so that any of the Time of Sale Information will comply with law. 

  
 19 

 (f)    Ongoing Compliance of the Offering
Memorandum. If at any time prior to the completion of the initial offering of the Securities (i) any event shall occur or condition shall exist as a result of which the Offering Memorandum as then amended or supplemented would include any
untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Offering Memorandum is delivered to a purchaser, not misleading or
(ii) it is necessary to amend or supplement the Offering Memorandum to comply with law, the Company will immediately notify the Initial Purchasers thereof and forthwith prepare and, subject to paragraph (b) of this Section 4 above,
furnish to the Initial Purchasers such amendments or supplements to the Offering Memorandum (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary so that the statements in the Offering Memorandum
as so amended or supplemented (including such document to be incorporated by reference therein) will not, in the light of the circumstances existing when the Offering Memorandum is delivered to a purchaser, be misleading or so that the Offering
Memorandum will comply with law. 
 (g)    Blue Sky Compliance. The Company will qualify the
Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions as the Representative shall reasonably request and will continue such qualifications in effect so long as required for the offering and resale of the
Securities; provided that the Company shall not be required to (i) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any
general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject. 

(h)    Clear Market. During the period from the date hereof through and including the date that is
60 days after the date hereof, the Company will not, without the prior written consent of J.P. Morgan Securities LLC, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the Company and having a tenor of
more than one year. 
 (i)    Use of Proceeds. The Company will apply the net proceeds from the
sale of the Securities as described in the Time of Sale Information and the Offering Memorandum under the heading “Use of Proceeds.” 

(j)    Supplying Information. While the Securities remain outstanding and are “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company and each of the Subsidiary Guarantors will, during any period in which the Company is not 

  
 20 

 
subject to and in compliance with Section 13 or 15(d) of the Exchange Act, furnish to holders of the Securities and prospective purchasers of the Securities designated by such holders, upon
the request of such holders or such prospective purchasers, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

(k)    No Resales by the Company. The Company will not, and will not permit any of its affiliates
(as defined in Rule 144 under the Securities Act) to, resell any of the Securities that have been acquired by any of them, except for Securities purchased by the Company or any of its affiliates and resold in a transaction registered under the
Securities Act. 
 (l)    No Integration. Neither the Company nor any of its affiliates (as
defined in Rule 501(b) of Regulation D) will, directly or through any agent, sell, offer for sale, solicit offers to buy or otherwise negotiate in respect of, any security (as defined in the Securities Act), that is or will be integrated with the
sale of the Securities in a manner that would require registration of the Securities under the Securities Act. 

(m)    No General Solicitation or Directed Selling Efforts. None of the Company or any of its
affiliates or any other person acting on its or their behalf (other than the Initial Purchasers, as to which no covenant is given) will (i) solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or
general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act or (ii) engage in any directed selling efforts within the
meaning of Regulation S, and all such persons have complied with the offering restrictions requirement of Regulation S. 

(n)    No Stabilization. The Company will not take, directly or indirectly, any action designed to
or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities. 

5.    Certain Agreements of the Initial Purchasers. Each Initial Purchaser, severally and not jointly, hereby
represents and agrees that it has not and will not use, authorize use of, refer to, or participate in the planning for use of, any written communication that constitutes an offer to sell or the solicitation of an offer to buy the Securities other
than (i) the Preliminary Offering Memorandum and the Offering Memorandum, (ii) any written communication that contains either (a) no “issuer information” (as defined in Rule 433(h)(2) under the Securities Act) or (b)
“issuer information” that was included (including through incorporation by reference) in the Time of Sale Information or the Offering Memorandum, (iii) any written communication listed on Annex C or prepared pursuant to
Section 4(c) above (including any electronic road show), (iv) any written communication prepared by such Initial Purchaser and approved by the 

  
 21 

 
Company in advance in writing or (v) any written communication relating to or that contains the preliminary or final terms of the Securities or their offering and/or other information that
was included (including through incorporation by reference) in the Time of Sale Information or the Offering Memorandum. 

6.    Conditions of Initial Purchasers’ Obligations. The obligation of each Initial Purchaser to
purchase Securities on the Closing Date as provided herein is subject to the performance by the Company and each of the Subsidiary Guarantors of their respective covenants and other obligations hereunder and to the following additional conditions:

 (a)    Representations and Warranties. The representations and warranties of the Company and
the Subsidiary Guarantors contained herein shall be true and correct on the date hereof and on and as of the Closing Date; and the statements of the Company, the Subsidiary Guarantors and their respective officers made in any certificates delivered
pursuant to this Agreement shall be true and correct on and as of the Closing Date. 
 (b)    No
Downgrade. Between the time of execution of this Agreement and the Closing Date, there shall not have occurred any downgrading, nor shall any notice have been given of (i) any intended or potential downgrading or (ii) any watch, review
or possible change that does not indicate an affirmation or improvement in the rating accorded any securities of or guaranteed by the Company or any Subsidiary Guarantor by any “nationally recognized statistical rating organization,” as
that term is defined in Section 3(a)(62) of the Exchange Act. 
 (c)    No Material Adverse
Change. Between the time of execution of this Agreement and the Closing Date, (i) no material adverse change or development involving a prospective material adverse change in the business, properties, management, financial condition or
results of operations of the Company and its subsidiaries taken as a whole shall occur or become known and (ii) no transaction which is material and unfavorable to the Company and its subsidiaries (other than as disclosed in the Time of Sale
Information and the Offering Memorandum) shall have been entered into by the Company or any of its Subsidiary Guarantors, the effect of which, in any case under this Section 6(c), is so material and adverse as to make it impracticable to
proceed with the offering, sale or delivery of the Securities being delivered at the time of purchase on the terms and in the manner contemplated in the Time of Sale Information and the Offering Memorandum. 

(d)    Officer’s Certificate. The Representative shall have received on and as of
the Closing Date a certificate of its Chief Executive Officer and its Chief Financial Officer in the form attached as Annex B hereto. 

  
 22 

 (e)    Comfort Letters from
Ernst & Young LLP. On the date of this Agreement and on the Closing Date, Ernst & Young LLP shall have furnished to the Representative, at the request of the Company, letters, dated the respective dates of
delivery thereof and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Representative, containing statements and information of the type customarily included in accountants’ “comfort letters” to
initial purchasers with respect to the financial statements and certain financial information contained or incorporated by reference in the Time of Sale Information and the Offering Memorandum; provided that the letter delivered on the Closing Date
shall use a “cut-off” date no more than two business days prior to the Closing Date. 

(f)    Opinion of Counsel for the Company. Vinson & Elkins LLP, counsel for the Company,
shall have furnished to the Representative on and as of the Closing Date, at the request of the Company, their written opinion, dated the Closing Date and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the
Representative, to the effect set forth in Annex A hereto. 
 (g)    Opinion of Counsel for the
Initial Purchasers. The Representative shall have received on and as of the Closing Date an opinion of Davis Polk & Wardwell LLP, counsel for the Initial Purchasers, with respect to such matters as the Representative may reasonably
request, and such counsel shall have received such documents and information as they may reasonably request to enable them to pass upon such matters. 

(h)    Reserve Letters. On the date of this Agreement and on the Closing Date, Wright &
Company, Inc. shall have furnished to the Representative, at the request of the Company, a reserve report confirmation letter, dated the respective date of delivery thereof and addressed to the Initial Purchasers, in form and substance reasonably
satisfactory to the Representative, containing statements and information of the type customarily included in such letters to initial purchasers with respect to the reserve and other operational information contained or incorporated by reference in
the Time of Sale Information and the Offering Memorandum. 
 (i)    Additional Documents. On or
prior to the Closing Date, the Company shall have furnished to the Representative such further certificates and documents as the Representative may reasonably request. 

All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the
provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Initial Purchasers. 

  
 23 

 7.    Indemnification and Contribution. 

(a)    Indemnification of the Initial Purchasers. The Company and each of the Subsidiary Guarantors,
jointly and severally, agree to indemnify and hold harmless each Initial Purchaser, its affiliates, directors and officers and each person, if any, who controls such Initial Purchaser within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, reasonable legal fees and other expenses incurred in connection with any suit, action or proceeding or any
claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum, any of the other
Time of Sale Information, any Issuer Written Communication or the Offering Memorandum (or any amendment or supplement thereto) or arising out of or based upon any omission or alleged omission to state therein a material fact necessary in order to
make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or
alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use therein.

 (b)    Indemnification of the Company. Each Initial Purchaser agrees, severally and not
jointly, to indemnify and hold harmless the Company, each of the Subsidiary Guarantors, each of their respective directors and officers and each person, if any, who controls the Company or any Subsidiary Guarantor within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are
based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Initial Purchaser furnished to the Company in writing by such Initial Purchaser
through the Representative expressly for use in the Preliminary Offering Memorandum, any of the other Time of Sale Information, any Issuer Written Communication or the Offering Memorandum (or any amendment or supplement thereto). The Company and
each of the Subsidiary Guarantors hereby acknowledge that the only information that the Initial Purchasers have furnished to the Company through the Representative expressly for use in the Preliminary Offering Memorandum, any of the other Time of
Sale Information, any Issuer 

  
 24 

 
Written Communication or the Offering Memorandum (or any amendment or supplement thereto) are the statements set forth in the fifth paragraph, the third and fourth sentences in the seventh
paragraph, and the statements pertaining to the Initial Purchasers in the tenth paragraph under the caption “Plan of Distribution” in the Offering Memorandum. 

(c)    Notice and Procedures. If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such person (the “Indemnified Person”)
shall promptly notify the person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may
have under paragraphs (a) and (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying
Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraphs (a) and (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have
notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to
represent the Indemnified Person in such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the
fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a
reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those
available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel
would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for
the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for any Initial Purchaser, its
affiliates, directors and officers and any control persons of such Initial Purchaser shall be 

  
 25 

 
designated in writing by J.P. Morgan Securities LLC and any such separate firm for the Company and the Subsidiary Guarantors, their respective directors and officers and any control persons of
the Company and the Subsidiary Guarantors shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if
there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time
an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding
effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in
accordance with such request prior to the date of such settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified
Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (x) includes an unconditional release of such Indemnified Person, in form and substance reasonably
satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any
Indemnified Person. 
 (d)    Contribution. If the indemnification provided for in
paragraphs (a) and (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such
Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits
received by the Company and the Subsidiary Guarantors on the one hand and the Initial Purchasers on the other from the offering of the Securities or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Subsidiary Guarantors on the one hand and the Initial Purchasers on the other in connection with
the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Subsidiary Guarantors on the one hand and the
Initial Purchasers on the other shall be deemed 

  
 26 

 
to be in the same respective proportions as the net proceeds (before deducting expenses) received by the Company from the sale of the Securities and the total discounts and commissions received
by the Initial Purchasers in connection therewith, bear to the aggregate offering price of the Securities. The relative fault of the Company and the Subsidiary Guarantors on the one hand and the Initial Purchasers on the other shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or any Subsidiary Guarantor or by the
Initial Purchasers, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e)    Limitation on Liability. The Company, the Subsidiary Guarantors and the Initial Purchasers
agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro rata allocation (even if the Initial Purchasers were treated as one entity for such purpose) or by any other method of allocation
that does not take account of the equitable considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph
(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this
Section 7, in no event shall an Initial Purchaser be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Initial Purchaser with respect to the offering of the Securities
exceeds the amount of any damages that such Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Initial Purchasers’ obligations to contribute pursuant to this Section 7
are several in proportion to their respective purchase obligations hereunder and not joint. 
 (f)    Non-Exclusive Remedies. The remedies provided for in this Section 7 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in
equity. 
 8.    Effectiveness of Agreement. This Agreement shall become effective upon the execution and
delivery hereof by the parties hereto. 
 9.    Termination. This Agreement may be terminated in the absolute
discretion of the Representative, by notice to the Company, if after the execution and delivery of this Agreement and prior to the Closing Date there shall have 

  
 27 

 
occurred (i) a suspension or material limitation in trading in securities generally on the New York Stock Exchange, the American Stock Exchange or the NASDAQ; (ii) a suspension or
material limitation in trading in the Company’s securities on the New York Stock Exchange; (iii) a general moratorium on commercial banking activities declared by either federal or New York State authorities or a material disruption in
commercial banking or securities settlement or clearance services in the United States; (iv) an outbreak or escalation of hostilities or acts of terrorism involving the United States or a declaration by the United States of a national emergency
or war; or (v) any other calamity or crisis or any change in financial, political or economic conditions in the United States or elsewhere, if the effect of any such event specified in clause (iv) or (v) in the judgment of the
Representative makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Offering Memorandum. 

10.    Defaulting Initial Purchaser. (a) If, on the Closing Date, any Initial Purchaser defaults on its
obligation to purchase the Securities that it has agreed to purchase hereunder, the non-defaulting Initial Purchasers may in their discretion arrange for the purchase of such Securities by other persons
satisfactory to the Company on the terms contained in this Agreement. If, within 36 hours after any such default by any Initial Purchaser, the non-defaulting Initial Purchasers do not arrange for the purchase
of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Initial Purchasers to purchase such Securities on
such terms. If other persons become obligated or agree to purchase the Securities of a defaulting Initial Purchaser, either the non-defaulting Initial Purchasers or the Company may postpone the Closing Date
for up to five full business days in order to effect any changes that in the opinion of counsel for the Company or counsel for the Initial Purchasers may be necessary in the Offering Memorandum or in any other document or arrangement, and the
Company agrees to promptly prepare any amendment or supplement to the Offering Memorandum that effects any such changes. As used in this Agreement, the term “Initial Purchaser” includes, for all purposes of this Agreement unless the
context otherwise requires, any person not listed in Schedule 1 hereto that, pursuant to this Section 10, purchases Securities that a defaulting Initial Purchaser agreed but failed to purchase. 

(b)    If, after giving effect to any arrangements for the purchase of the Securities of a defaulting
Initial Purchaser or Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains
unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Securities, then the Company shall have the right to require each non-defaulting
Initial Purchaser to purchase the principal amount of Securities that such Initial Purchaser agreed to purchase hereunder plus such Initial Purchaser’s pro rata share (based on 

  
 28 

 
the principal amount of Securities that such Initial Purchaser agreed to purchase hereunder) of the Securities of such defaulting Initial Purchaser or Initial Purchasers for which such
arrangements have not been made. 
 (c)    If, after giving effect to any arrangements for the purchase
of the Securities of a defaulting Initial Purchaser or Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of
such Securities that remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Securities, or if the Company shall not exercise the right described in paragraph (b) above, then
this Agreement shall terminate without liability on the part of the non-defaulting Initial Purchasers. Any termination of this Agreement pursuant to this Section 10 shall be without liability on the part
of the Company, except that the Company and each of the Subsidiary Guarantors will continue to be liable for the payment of expenses as set forth in Section 11 hereof and except that the provisions of Section 7 hereof shall not terminate
and shall remain in effect. 
 (d)    Nothing contained herein shall relieve a defaulting Initial
Purchaser of any liability it may have to the Company or any non-defaulting Initial Purchaser for damages caused by its default. 

11.    Payment of Expenses. (a) Whether or not the transactions contemplated by this Agreement are consummated
or this Agreement is terminated, the Company and each of the Subsidiary Guarantors jointly and severally agree to pay or cause to be paid all costs and expenses incident to the performance of their respective obligations hereunder, including without
limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and any taxes payable in that connection; (ii) the costs incident to the preparation and printing of the Preliminary
Offering Memorandum, any other Time of Sale Information, any Issuer Written Communication and the Offering Memorandum (including all amendments and supplements thereto) and the distribution thereof; (iii) the costs of reproducing and
distributing each of the Transaction Documents; (iv) the fees and expenses of the Company’s and the Subsidiary Guarantors’ counsel and independent accountants; (v) the fees and expenses incurred in connection with the
registration or qualification and determination of eligibility for investment of the Securities under the laws of such jurisdictions as the Representative may designate and the preparation, printing and distribution of a Blue Sky Memorandum
(including the related fees and expenses of counsel for the Initial Purchasers); (vi) any fees charged by rating agencies for rating the Securities; (vii) the fees and expenses of the Trustee and any paying agent (including related fees and
expenses of any counsel to such parties); and (viii) all expenses incurred by the Company in connection with any “road show” presentation to potential investors. 

  
 29 

 (b)    If (i) this Agreement is terminated pursuant
to Section 9 (other than pursuant to clause (v) of Section 9 if the Company and the Initial Purchasers subsequently enter into another agreement for the Initial Purchasers to purchase the same or substantially similar securities of
the Company), (ii) the Company for any reason fails to tender the Securities for delivery to the Initial Purchasers or (iii) the Initial Purchasers decline to purchase the Securities for any reason permitted under this Agreement, the Company
and each of the Subsidiary Guarantors jointly and severally agree to reimburse the Initial Purchasers for all out-of-pocket costs and expenses (including the reasonable
fees and expenses of their counsel) reasonably incurred by the Initial Purchasers in connection with this Agreement and the offering contemplated hereby. 

12.    Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and the officers and directors and any controlling persons referred to herein, and the affiliates of each Initial Purchaser referred to in Section 7 hereof. Nothing in this Agreement is
intended or shall be construed to give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. No purchaser of Securities from any Initial Purchaser shall be deemed to
be a successor merely by reason of such purchase. 
 13.    Survival. The respective indemnities, rights of
contribution, representations, warranties and agreements of the Company, the Subsidiary Guarantors and the Initial Purchasers contained in this Agreement or made by or on behalf of the Company, the Subsidiary Guarantors or the Initial Purchasers
pursuant to this Agreement or any certificate delivered pursuant hereto shall survive the delivery of and payment for the Securities and shall remain in full force and effect, regardless of any termination of this Agreement or any investigation made
by or on behalf of the Company, the Subsidiary Guarantors or the Initial Purchasers. 
 14.    Certain Defined
Terms. For purposes of this Agreement, (a) except where otherwise expressly provided, the term “affiliate” has the meaning set forth in Rule 405 under the Securities Act; (b) the term “business day” means any day
other than a day on which banks are permitted or required to be closed in New York City; and (c) the term “subsidiary” has the meaning set forth in Rule 405 under the Securities Act. 

15.    Miscellaneous. (a) Authority of J.P. Morgan Securities LLC. Any action by the Initial Purchasers
hereunder may be taken by J.P. Morgan Securities LLC on behalf of the Initial Purchasers, and any such action taken by J.P. Morgan Securities LLC shall be binding upon the Initial Purchasers. 

  
 30 

 (b)    Notices. All notices and other
communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted and confirmed by any standard form of telecommunication. Notices to the Initial Purchasers shall be given to the J.P. Morgan Securities
LLC c/o J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179; Attention: Catherine O’Donnell (fax: 212-270-1063). Notices to the Company and the
Subsidiary Guarantors shall be given to it at the offices of the Company at 100 Throckmorton Street, Suite 1200, Fort Worth, Texas 76102 (fax: 817-869-9154); Attention:
David P. Poole. 
 (c)    Governing Law. This Agreement and any claim, controversy or dispute
arising under or related to this Agreement shall be governed by and construed in accordance with the laws of the State of New York. 

(d)    Counterparts. This Agreement may be signed in counterparts (which may include counterparts
delivered by any standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. 

(e)    Amendments or Waivers. No amendment or waiver of any provision of this Agreement, nor any
consent or approval to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties hereto. 

(f)    Headings. The headings herein are included for convenience of reference only and are not
intended to be part of, or to affect the meaning or interpretation of, this Agreement. 
 16.    Recognition of the
U.S. Special Resolution Regimes. 
 (a)    In the event that any Initial Purchaser that is a Covered
Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Initial Purchaser of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the
transfer would be effective under the U.S. Special Resolution Regime. 
 (b)    In the event that any
Initial Purchaser that is a Covered Entity or a BHC Act Affiliate of such Initial Purchaser becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Initial
Purchaser are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime. 

As used in this Section 16: 

“BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and shall be interpreted in accordance
with, 12 U.S.C. § 1841(k). 

  
 31 

 “Covered Entity” means any of the following: 

(i)    a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §
252.82(b); 
 (ii)    a “covered bank” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 47.3(b); or 
 (iii)    a “covered FSI” as that term is defined in, and interpreted in
accordance with, 12 C.F.R. § 382.2(b). 
 “Default Right” has the meaning assigned to that term in, and shall be
interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 
 “U.S. Special Resolution
Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.

 17.    Compliance with USA PATRIOT Act. In accordance with the requirements of the USA PATRIOT Act (Title III
of Pub. L. 107-56 (signed into law on October 26, 2001)), the Initial Purchasers are required to obtain, verify and record information that identifies their respective clients, including the Company and
the Subsidiary Guarantors, which information may include the name and addresses of their respective clients, as well as other information that will allow the Initial Purchasers to properly identify their respective clients. 

[Signature pages follow.] 

  
 32 

 If the foregoing is in accordance with your understanding, please indicate your acceptance
of this Agreement by signing in the space provided below. 
  

			
	 Very truly yours,
  

RANGE RESOURCES CORPORATION

		
	By:	 	 /s/ Mark S. Scucchi

	Name:	 	Mark S. Scucchi
	Title:	 	Senior Vice President and Chief Financial Officer
	
	 RANGE RESOURCES-PINE MOUNTAIN, INC. 
RANGE RESOURCES-MIDCONTINENT, LLC 
RANGE PRODUCTION COMPANY, LLC 
RANGE
RESOURCES-APPALACHIA, LLC
 RANGE RESOURCES – LOUISIANA, INC.

RANGE LOUISIANA OPERATING, LLC

		
	By:	 	 /s/ Mark S. Scucchi

	Name:	 	Mark S. Scucchi
	Title:	 	Senior Vice President – Chief Financial Officer and Treasurer

 [Signature Page to Purchase Agreement] 

			
	 J.P. Morgan Securities LLC
  

For itself and on behalf of the several Initial Purchasers listed in Schedule 1 hereto.

 
 J.P. MORGAN SECURITIES
LLC

			
		
	By:	 	 /s/ Catherine O’Donnell

	Name:	 	Catherine O’Donnell
	Title:	 	Managing Director

 [Signature Page to Purchase Agreement] 

 Schedule 1 
  

					
	 Initial Purchaser
	  	Principal Amount	 
	 J.P. Morgan Securities LLC
	  	$	87,000,000	 
	 BofA Securities, Inc.
	  	$	36,000,000	 
	 Wells Fargo Securities, LLC
	  	$	36,000,000	 
	 Barclays Capital Inc.
	  	$	15,000,000	 
	 BMO Capital Markets Corp.
	  	$	15,000,000	 
	 Citigroup Global Markets Inc.
	  	$	15,000,000	 
	 Credit Suisse Securities (USA) LLC
	  	$	15,000,000	 
	 Mizuho Securities USA LLC
	  	$	13,500,000	 
	 RBC Capital Markets, LLC
	  	$	13,500,000	 
	 PNC Capital Markets LLC
	  	$	12,000,000	 
	 Truist Securities, Inc.
	  	$	9,000,000	 
	 Credit Agricole Securities (USA) Inc.
	  	$	6,000,000	 
	 MUFG Securities Americas Inc.
	  	$	6,000,000	 
	 BBVA Securities Inc.
	  	$	3,000,000	 
	 BOK Financial Securities, Inc.
	  	$	3,000,000	 
	 SG Americas Securities, LLC
	  	$	3,000,000	 
	 U.S. Bancorp Investments, Inc.
	  	$	3,000,000	 
	 ABN AMRO Securities (USA) LLC
	  	$	1,500,000	 
	 Capital One Securities, Inc.
	  	$	1,500,000	 
	 CIBC World Markets Corp.
	  	$	1,500,000	 
	 Comerica Securities, Inc.
	  	$	1,500,000	 
	 KeyBanc Capital Markets Inc.
	  	$	1,500,000	 
	 Scotia Capital (USA) Inc.
	  	$	1,500,000	 
	 Total
	  	$	300,000,000	 
		  	  
	  
	 

 Annex A 

[Form of Opinion of Counsel for the Company] 

(a)    The Company is validly existing and in good standing as a corporation under the laws of the State of Delaware with
all requisite corporate power and authority to own its properties and conduct its business in all material respects as described in the Time of Sale Information and the Offering Memorandum. 

(b)    Each of the Subsidiary Guarantors is validly existing as a corporation or limited liability company, as applicable,
and in good standing under the laws of the State of Delaware; each of the Subsidiary Guarantors has all requisite corporate or limited liability company power and authority to own its respective properties and to conduct its respective business, in
all material respects as described in the Time of Sale Information and the Offering Memorandum. 
 (c)    The Company
and each of the Subsidiary Guarantors listed on Schedule 1 of such opinion are (i) duly qualified or licensed to do business as a foreign corporation or limited liability company, as applicable, in each jurisdiction listed across from each such
entity’s name in column A of Schedule 1 of such opinion and (ii) in good standing in each jurisdiction listed across from each such entity’s name in column B of Schedule 1 of such opinion. 

(d)    The documents incorporated by reference in the Time of Sale Information and the Offering Memorandum or any further
amendment or supplement thereto made by the Company prior to the Closing Date (except for (a) the financial statements and related schedules thereto, including the notes thereto and the independent registered public accounting firm’s
report thereon, (b) the other financial data that is included or incorporated by reference therein or omitted therefrom and (c) the oil and gas reserve reports and related reserve information contained or incorporated by reference therein
or omitted therefrom, in each case as to which we express no opinion), when they were filed with the Commission, appear on their face to be appropriately responsive in all material respects with the requirements of the Securities Act or the Exchange
Act and the rules and regulations of the Commission thereunder. 
 (e)    The execution, delivery and performance of the
Purchase Agreement, the Registration Rights Agreement, the Securities, the Exchange Securities and the performance of the Indenture by the Company and the Subsidiary Guarantors, as applicable, and the consummation by the Company and the Subsidiary
Guarantors of the transactions contemplated thereby and the issuance of the Securities by the Company will not (A) result in a violation of any provisions of the Charter or Bylaws or similar organizational documents of the Company or any
Subsidiary Guarantor, (B) breach or result in a default under any Applicable Contract, or (C) assuming compliance with all applicable state 

  
 A-1 

 
securities laws and assuming the accuracy of the representations and warranties of the Initial Purchasers contained in the Purchase Agreement, result in a violation of any federal or Texas or
Delaware state law, regulation or rule or, to our knowledge and without having investigated governmental records or court dockets, any decree, judgment or order applicable to the Company or any of the Subsidiary Guarantors, except, in the case of
clause (B) and (C), for such breaches, defaults or violations that would not, individually or in the aggregate, result in a Material Adverse Effect and, in the case of clause (C), such counsel need express no opinion with respect to the
anti-fraud provisions of federal securities laws or with respect to state securities laws or Blue Sky laws. 

(f)    The Purchase Agreement has been duly authorized, executed and delivered by the Company and the Subsidiary
Guarantors; and the Registration Rights Agreement has been duly authorized, executed and delivered by the Company and each of the Subsidiary Guarantors and, when duly executed and delivered by the other parties thereto, will constitute a valid and
legally binding agreement of the Company and each of the Subsidiary Guarantors enforceable against the Company and each of the Subsidiary Guarantors in accordance with its terms except that (A) the enforceability thereof may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is considered in a proceeding in equity or at law, and the discretion of the court
before which any proceeding therefor may be brought and (B) the rights to indemnity and contribution may be limited by applicable law, rule, regulation or judicial determination or interpretation of the Commission. 

(g)    The Indenture has been duly authorized, executed and delivered by the Company and the Subsidiary Guarantors and,
assuming the due authorization, execution and delivery thereof by the Trustee, constitutes a legal, valid and binding agreement of the Company and the Subsidiary Guarantors, enforceable against the Company and the Subsidiary Guarantors in accordance
with its terms except that the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is
considered in a proceeding in equity or at law, and the discretion of the court before which any proceeding therefor may be brought; and the Indenture conforms in all material respects with the requirements of the Trust Indenture Act and the rules
and regulations of the Commission applicable to an indenture that is qualified thereunder except that the Indenture has not been so qualified. 

(h)    The Guarantees, as defined in the Indenture, have been duly authorized, executed and delivered by the Subsidiary
Guarantors, and, assuming the due authorization, execution and delivery of the Securities by the Trustee and upon payment for and delivery of the Securities in accordance with the Purchase Agreement, each Guarantee will constitute a legal, valid and
binding agreement of each Subsidiary Guarantor, enforceable against each such Subsidiary Guarantor in accordance with its terms except that the enforceability thereof may 

  
 A-2 

 
be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is considered
in a proceeding in equity or at law, and the discretion of the court before which any proceeding therefor may be brought. 

(i)    The Securities have been duly authorized by the Company, and when executed and duly authenticated in accordance
with the terms of the Indenture and delivered to and paid for by the Initial Purchasers in accordance with the terms of the Purchase Agreement, (A) will constitute legal, valid and binding obligations of the Company, enforceable against the
Company in accordance with their terms, except that the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, or by general principles of equity,
whether enforcement is considered in a proceeding in equity or at law, and the discretion of the court before which any proceeding therefor may be brought, and (B) will be entitled to the benefits of the Indenture. 

(j)    The Exchange Guarantees, as defined in the Registration Rights Agreement, have been duly authorized by the
Subsidiary Guarantors, and, when duly executed and delivered as contemplated by the Registration Rights Agreement and assuming the due execution and delivery of the Indenture by the Trustee and the authentication and delivery of the Exchange
Securities by the Trustee, will constitute a legal, valid and binding agreement of each Subsidiary Guarantor, enforceable against each such Subsidiary Guarantor in accordance with its terms except that the enforceability thereof may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is considered in a proceeding in equity or at law, and the discretion of the court
before which any proceeding therefor may be brought. 
 (k)    The Exchange Securities, as defined in the Registration
Rights Agreement, have been duly authorized by the Company, and when duly executed and delivered as contemplated by the Registration Rights Agreement and assuming the due execution and delivery of the Indenture by the Trustee and the authentication
and delivery of the Exchange Securities by the Trustee, (A) will constitute legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except that the enforceability thereof may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, or by general principles of equity, whether enforcement is considered in a proceeding in equity or at law, and the discretion
of the court before which any proceeding therefor may be brought, and (B) will be entitled to the benefits of the Indenture. 
 (l) No
approval, authorization, consent or order of or filing with any federal, Texas or Delaware governmental or regulatory commission, board, body, authority or agency is required in connection with the issuance and sale by the Company of the Securities
as contemplated in the Purchase Agreement, other 

  
 A-3 

 
than as may be required under the securities or Blue Sky laws of the various jurisdictions in which the Securities are being resold by the Initial Purchasers and such as may be required under
federal securities law, as to which we express no opinion other than the opinion provided in paragraph (o) below. 

(m)    The statements set forth in the Time of Sale Information and the Offering Memorandum under the caption
“Description of Notes” (when taken together with the terms of the Securities set forth in the Time of Sale Information), insofar as they purport to constitute a summary of the terms of the Securities, are accurate summaries in all material
respects; and the statements set forth in the Time of Sale Information and the Offering Memorandum under the caption “Certain United States Federal Income Tax Considerations,” insofar as they purport to constitute summaries of matters of
law or regulation or legal conclusions, are accurate summaries in all material respects. 
 (n)    Neither the Company
nor any of the Subsidiary Guarantors is, or after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as described in the Time of Sale Information and the Offering Memorandum will be, required to
register as an “investment company” as defined in the Investment Company Act of 1940, as amended. 

(o)    Assuming (i) the accuracy of the representations, warranties and agreements of the Company, the Subsidiary
Guarantors and the Initial Purchasers contained in the Purchase Agreement; (ii) the compliance of the Initial Purchasers with the covenants and agreements set forth in the Purchase Agreement; and (iii) the compliance by the Initial
Purchasers with the offer and transfer restrictions described in the Offering Memorandum under the caption “Transfer Restrictions,” it is not necessary, in connection with the issuance and sale of the Securities to the Initial Purchasers
and the offer, resale and delivery of the Securities by the Initial Purchasers in the manner contemplated by the Purchase Agreement, the Time of Sale Information and the Offering Memorandum, to register the Securities under the Securities Act (other
than any obligation of the Company to comply with the registration obligations contained in the Registration Rights Agreement) or to qualify the Indenture under the Trust Indenture Act; provided, however, we express no opinion as to any subsequent
resale of the Securities. 
 Based upon our participation in conferences with officers and other representatives of the Company,
representatives of the independent public accountants of the Company and representatives of the Initial Purchasers and their counsel at which the contents of the Time of Sale Information and the Offering Memorandum and any amendment and supplement
thereto and related matters were discussed and without any additional inquiry or due diligence (except as necessary to express the opinions set forth above), although we have not conducted any independent investigations with regard to the
information in the Time of Sale Information and the Offering Memorandum and are not passing upon and do not assume any responsibility for the accuracy, completeness or 

  
 A-4 

 
fairness of the statements contained in the Time of Sale Information and the Offering Memorandum (except to the extent stated in paragraph (m) above), no facts have come to our attention
which lead us to believe that the Time of Sale Information, at the Time of Sale (which such counsel may assume to be 2:00 p.m. Eastern time on the date of the Purchase Agreement) contained any untrue statement of a material fact or omitted to
state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading or that the Offering Memorandum or any amendment or supplement thereto as of its date and the Closing Date
contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading (except for (a) the financial statements
and related schedules thereto, including the notes thereto, and the independent registered public accounting firm’s report thereon, (b) the other financial data that is included or incorporated by reference therein or omitted therefrom and
(c) the oil and gas reserve reports and related reserve information contained or incorporated by reference therein). 
 SCHEDULE 1

  

					
	 	  	 A
	  	 B

	 	  	 Duly Qualified or

Licensed
	  	 Good Standing

	Range Resources Corporation	  	Delaware
Texas
Oklahoma	  	Delaware
Texas
Oklahoma

	Range Louisiana Operating, LLC	  	 Delaware

Louisiana
 Texas
	  	 Delaware

Louisiana
 Texas

	Range Production Company, LLC	  	 Delaware

Pennsylvania
Mississippi
Oklahoma
	  	 Delaware

Pennsylvania
Mississippi
Oklahoma

	Range Resources-Appalachia, LLC	  	Delaware
Ohio
Pennsylvania
West Virginia
Virginia
Illinois	  	Delaware
Ohio
Pennsylvania
West Virginia
Virginia
Illinois

  
 A-5 

					
	Range Resources-Louisiana, Inc.	  	 Delaware

Louisiana
 Texas
	  	 Delaware

Louisiana
 Texas

	Range Resources-Midcontinent, LLC	  	 Delaware

Colorado
Oklahoma
Kansas
	  	 Delaware

Colorado
Oklahoma
Kansas

	Range Resources-Pine Mountain, Inc.	  	 Delaware

Louisiana
Mississippi
Pennsylvania

Virginia
West Virginia
	  	 Delaware

Louisiana
Mississippi
Pennsylvania

Virginia
West Virginia

  
 A-6 

 Annex B 

OFFICERS’ CERTIFICATE 
  

	1.	 I have reviewed the Time of Sale Information and the Offering Memorandum. 

 

	2.	 The representations and warranties of the Company as set forth in the Purchase Agreement are true and correct
as of the time of purchase. 

  

	3.	 The Company has performed all of its obligations under the Purchase Agreement as are to be performed at or
before the time of purchase. 

  

	4.	 The condition set forth in Section 6(c) (No Material Adverse Change) of the Purchase Agreement has been
met. 

  
 A-1 

 Annex C 

a. Time of Sale Information 
  

	1.	 Term sheet containing the terms of the Securities, substantially in the form of Annex D. 

  
 A-1 

 Annex D 

Pricing term sheet, dated August 18, 2020 

to Preliminary Offering Memorandum dated August 18, 2020 

Strictly confidential 

Range Resources Corporation 

This pricing term sheet is qualified in its entirety by reference to the Preliminary Offering Memorandum (the “Preliminary Offering
Memorandum”). The information in this pricing term sheet supplements the Preliminary Offering Memorandum and updates and supersedes the information in the Preliminary Offering Memorandum to the extent it is inconsistent with the information
in the Preliminary Offering Memorandum. Terms used and not defined herein have the meanings assigned in the Preliminary Offering Memorandum. 

The notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. The notes
may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S) except in transactions exempt from, or not subject to, the registration requirements of the Securities Act. Accordingly, the notes are being offered only
to persons reasonably believed to be “qualified institutional buyers” as defined in Rule 144A under the Securities Act and to non-U.S. persons outside the United States under Regulation S under the
Securities Act. 
  

			
	Issuer:	  	Range Resources Corporation
		
	Guarantors:	  	All current subsidiaries
		
	Security description:	  	9.25% Senior Notes due 2026 (the “new notes”). The new notes are being offered as additional notes under an indenture pursuant to which we issued $550,000,000 aggregate principal amount of our 9.250% senior notes due 2026
on January 24, 2020 (“initial notes”).
		
	Distribution:	  	144A/Regulation S with registration rights
		
	Face:	  	$300,000,000 (which represents an increase from the $200,000,000 in the Preliminary Offering Memorandum)
		
	Gross proceeds:	  	$300,000,000
		
	Coupon:	  	9.250%

  
 D-1 

			
	Maturity:	  	February 1, 2026
		
	Offering price:	  	100.000%, plus accrued interest, if any, from August 1, 2020
		
	Yield to maturity:	  	9.253%
		
	Spread to Benchmark Treasury	  	+898 bps
		
	Benchmark Treasury	  	UST 0.25% due July 31, 2025
		
	Interest payment dates:	  	February 1 and August 1, beginning February 1, 2021
		
	Optional Redemption:	  	 Before February 1, 2022, we may redeem the notes at a “make-whole” premium calculated using a discount rate of Treasury plus
50 basis points.
  
 On and after February 1, 2022, in whole or in part, at any
time or from time to time, at the prices set forth below (expressed as percentages of the principal amount), plus accrued and unpaid interest to the redemption date, if redeemed during the 12-month period
commencing on February 1 of the years set forth below:

  

							
		  	Date	  	Price	  	
		  	2022	  	106.938%	  	
		  	2023	  	104.625%	  	
		  	2024	  	102.313%	  	
		  	2025 and thereafter	  	100.000%	  	

  

			
	Optional Redemption with Equity Proceeds:	  	In addition, prior to February 1, 2022, up to 35% with an amount of cash not greater than the net cash proceeds of certain equity offerings at a redemption price equal to 109.250% of the aggregate principal amount of notes
redeemed, plus accrued and unpaid interest to the redemption date.
		
	Change of control triggering event:	  	Put at 101% of principal plus accrued and unpaid interest
		
	Trade date:	  	August 18, 2020

  
 D-2 

			
	Settlement date:	  	September 1, 2020 (T+10)
		
	Temporary Reg S CUSIP/ISIN:	  	U75295AL6 / USU75295AL61 The new notes will have the same CUSIP and ISIN numbers as, and will trade together with, the initial notes, except that the new notes issued in offshore transactions under Regulation S shall be issued and
maintained under a temporary CUSIP number during a 40-day distribution compliance period commencing on the issue date of the new notes.
		
	CUSIP:	  	75281A BC2 (144A) / U75295 AK8 (Regulation S)(Permanent)
		
	ISIN:	  	US75281ABC27 (144A) / USU75295AK88 (Regulation S)(Permanent)
		
	Denominations:	  	$2,000 and integral multiples of $1,000 in excess of $2,000
		
	Joint Book-runners:	  	 J.P. Morgan Securities LLC 
BofA Securities, Inc.

Wells Fargo Securities, LLC
 Barclays Capital Inc.

BMO Capital Markets Corp.
 Citigroup Global Markets Inc.

Credit Suisse Securities (USA) LLC

		
	Co-managers:	  	Mizuho Securities USA LLC 
RBC Capital Markets, LLC 
PNC Capital Markets LLC 
Truist Securities, Inc. 
Credit Agricole Securities (USA) Inc. 
MUFG Securities Americas Inc. 
BBVA Securities Inc. 
BOK Financial
Securities, Inc. 
SG Americas Securities, LLC 
U.S. Bancorp Investments, Inc. 
ABN AMRO Securities (USA) LLC 
Capital One Securities, Inc. 
CIBC World Markets Corp. 
Comerica Securities, Inc. 
KeyBank Capital Markets Inc.

Scotia Capital (USA) Inc.

  
 D-3 

 Other Changes from the Preliminary Offering Memorandum 

In addition to the pricing terms set forth above, in connection with the Tender Offers the Company has increased the Aggregate Maximum Tender
Amount from $400 million aggregate principal amount to $500 million aggregate principal amount of Target Notes. Furthermore, the Company increased the total consideration offered with respect to the 2023 Senior Notes in the Tender Offers
from $1,000.00 to $1005.00 per $1,000 principal amount of 2023 Senior Notes. 
 We expect delivery of the notes will be made against
payment therefor on or about September 1, 2020, which is the tenth business day following the date of pricing of the notes (such settlement being referred to as “T+10”). Under Rule 15c6-1
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise.
Accordingly, purchasers who wish to trade the notes on any date prior to two business days before delivery will be required, by virtue of the fact that the notes initially will settle in T+10, to specify an alternate settlement cycle at the time of
any such trade to prevent failed settlement and should consult their own advisors. 
 This material is confidential and is for your
information only and is not intended to be used by anyone other than you. This information does not purport to be a complete description of these notes or the offering. Please refer to the Preliminary Offering Memorandum for a complete description.

 This communication is being distributed solely to persons reasonably believed to be Qualified Institutional Buyers, as defined in
Rule 144A under the Securities Act of 1933, as amended, and to Non-U.S. persons outside the United States as defined under Regulation S. 

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any
person to whom it is unlawful to make such offer or solicitation in such jurisdiction. 
 Any disclaimer or other notice that may
appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system. 

  
 D-4 

 Annex E 

Restrictions on Offers and Sales Outside the United States 

In connection with offers and sales of Securities outside the United States: 

(a)    Each Initial Purchaser acknowledges that the Securities have not been registered under the Securities Act and may
not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the Securities Act. 

(b)    Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that: 

(i)    Such Initial Purchaser has offered and sold the Securities, and will offer and sell the Securities,
(A) as part of their distribution at any time and (B) otherwise until 40 days after the later of the commencement of the offering of the Securities and the Closing Date, only in accordance with Regulation S or Rule 144A or any other
available exemption from registration under the Securities Act. 
 (ii)    None of such Initial Purchaser
or any of its affiliates or any other person acting on its or their behalf has engaged or will engage in any directed selling efforts with respect to the Securities, and all such persons have complied and will comply with the offering restrictions
requirement of Regulation S. 
 (iii)    At or prior to the confirmation of sale of any Securities sold
in reliance on Regulation S, such Initial Purchaser will have sent to each distributor, dealer or other person receiving a selling concession, fee or other remuneration that purchases Securities from it during the distribution compliance period a
confirmation or notice to substantially the following effect: 
 “The Securities covered hereby have not been registered under the U.S.
Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or
(ii) otherwise until 40 days after the later of the commencement of the offering of the Securities and the date of original issuance of the Securities, except in accordance with Regulation S or Rule 144A or any other available exemption from
registration under the Securities Act. Terms used above have the meanings given to them by Regulation S.” 

(iv)    Such Initial Purchaser has not and will not enter into any contractual arrangement with any
distributor with respect to the distribution of the Securities, except with its affiliates or with the prior written consent of the Company. 

  
 E-1 

 Terms used in paragraph (a) and this paragraph (b) and not otherwise defined in this Agreement
have the meanings given to them by Regulation S. 
 (c)    Each Initial Purchaser acknowledges that no action has been
or will be taken by the Company that would permit a public offering of the Securities, or possession or distribution of any of the Time of Sale Information, the Offering Memorandum, any Issuer Written Communication or any other offering or publicity
material relating to the Securities, in any country or jurisdiction where action for that purpose is required. 

  
 E-2Exhibit
10.7

 

SETTLEMENT
AGREEMENT

 

This
Settlement Agreement is entered into on this 26th day of June, 2020 by and between Jagemann Stamping Company, a Wisconsin corporation
(“Jagemann”), on the one hand and Enlight Group II, LLC, a Delaware limited liability company (“Enlight”),
and AMMO, Inc., a Delaware corporation (“AI”) on the other hand. Enlight and AI are referred to herein collectively
as “AMMO”. Jagemann and AMMO are referred to herein individually as a “Party and collectively as the “Parties”.

 

Recitals

 

A.
Enlight and AI (as guarantor) are parties to a Promissory Note, dated as of March 14, 2019, as amended to date (as so amended,
the “Note”), in favor of Jagemann in the original principal amount of $10,400,000.

 

B.
Enlight is a party to a Security Agreement, dated as of March 14, 2019 (the “Security Agreement”) in favor of Jagemann.
Pursuant to the Security Agreement, Jagemann has a security interest in the assets listed on Exhibit A to the Security Agreement,
including but not limited to certain tooling and equipment located within Jagemann’s facility located at 5757 West Custer
Street, Manitowoc, Wisconsin 54221-0217 (the “Facility”).

 

C.
Jagemann and Enlight are parties to an Administrative and Management Services Agreement, effective as of March 14, 2019 (the “Services
Agreement”), whereby Jagemann has provided certain access to portions of the Facility and other administrative and management
services to Enlight.

 

D.
Jagemann, Enlight, and AI are parties to an Amended Asset Purchase Agreement dated as of March 14, 2019 (the “APA”).

 

E.
Jagemann has alleged that Enlight and AI are in default and/or breach of the Note, the Security Agreement, the Services Agreement,
and that Enlight has failed to pay for products and services sold to Jagemann. Enlight and AI have alleged that Jagemann breached
the APA and other legal duties in connection with the sale of certain assets pursuant to the APA. These allegations by the Parties
are referred to hereafter as the “Dispute.”

 

F.
Jagemann and AMMO have agreed to settle and compromise the Dispute in order to avoid litigation and expenses, without admission
of liability by any Party;

 

G.
Jagemann and AMMO, in consideration of these Recitals and the Mutual Covenants set forth below, agree as follows:

 

Mutual
Covenants

 

1.
Effectiveness. This Settlement Agreement is effective upon and the Parties execution of the Agreement, payment of the amount
set forth in Section 2 below and execution and delivery of the promissory notes and related documents referenced in Sections 3
and 4 below.

 

    	 

     

    

 

2.
Payment. Upon execution of this Settlement Agreement, AMMO shall pay Jagemann $1,269,977 by wire transfer based on wire
transfer instructions provided by Jagemann.

 

3.
New Promissory Notes and Collateral. Upon execution of this Settlement Agreement, AMMO shall provide Jagemann (a) new promissory
notes in the form of those attached as Exhibits A-1 and A-2 to this Settlement Agreement in the aggregate principal
amount of $8,439,597 (collectively, the “New Notes”), (b) general business security agreements in the forms agreed
to by the Parties granting Jagemann liens on all personal property of AMMO, (c) a landlord waiver in the form agreed to by the
Parties from AI’s Payson, Arizona landlord and (d) an intercreditor agreement in the form agreed to by the Parties among
Jagemann, AMMO and AMMO’s other lenders. The Note in the form of Exhibit A-1 shall reflect a refinancing of the principal
balance of the Note and a reduction of the outstanding principal balance of the Note. The Note in the form of Exhibit A-2
shall reflect a refinancing of the aggregate outstanding balance of amounts owing by Enlight to Jagemann for accrued interest
and for products and services sold by Jagemann to Enlight, after payment of the amount referenced in Section 2 above.

 

4.
Use Agreement. Upon execution of this Settlement Agreement, the Parties shall enter into a new use agreement governing
the use of that portion of the Facility currently used by AMMO, in the form of that attached as Exhibit B (the “New
Use Agreement”).

 

5.
Termination of Services Agreement. Upon the effectiveness of this Settlement Agreement, including effectiveness of the
New Use Agreement, the Services Agreement shall automatically and without further action by the Parties terminate, and all obligations
of the Parties set forth therein be shall deemed to be null and void. For the avoidance of doubt, upon the effectiveness of this
Settlement Agreement, except as expressly stated in the New Use Agreement, Jagemann is not obligated to provide any services to
AMMO in the future, absent a mutual agreement to provide such services at rates/charges and terms for such services that are mutually
agreeable to the Parties.

 

6.
AI Option to Repurchase Stock. Upon the effectiveness of this Settlement Agreement and continuing through and including
April 1, 2021, provided that no default or event of default then exists under the New Notes, AI shall have the option (the “Option”)
to repurchase from Jagemann up to 1,000,000 shares (“Shares”) of AI restricted stock remitted to Jagemann by AMMO
as part of the original consideration paid under the APA. The price for any the Shares purchased by AI shall be paid in cash in
an amount equal to $1.50 per Share. In the event AMMO desires to exercise the Option, it shall provide written notice of such
election to Jagemann on or prior to April 1, 2021, and Jagemann will transfer such shares to AMMO, contemporaneous with payment
therefor, within 10 days of such notice. The Parties agree to execute, at their own respective expense, such documentation as
is required to reflect the transfer of such Shares. Such documentation will include a replacement certificate of shares without
any restrictive legend issued by AI and evidence that the replacement shares are duly authorized and validly issued.

 

In
the event of any stock dividend, stock split, combination or exchange of AMMO shares, merger, consolidation, spin-off or other
distribution (other than normal cash dividends) of AMMO assets to shareholders, or any other change affecting Shares, such that
an adjustment is required in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Option, then Jagemann and AMMO will adjust the aggregate number of Shares and price per Share accordingly.
For example, in the case of a 2-for-1 stock split affecting the Shares, the number of Shares subject to the Option will increased
to 2,000,000 and the price per share decreases to $0.75 per share.

 

    	 

     

    

 

7.
Inventory. Jagemann is currently holding certain brass casing inventory related to Enlight’s business at the Facility
(the “Subject Inventory”). Attached as Exhibit C is a listing of the Subject Inventory. AMMO agrees to use
best efforts to purchase the Subject Inventory from Jagemann within 120 days after the date of this Settlement Agreement. Jagemann
shall have the right to sell the Subject Inventory as it sees fit if AMMO does not purchase the Subject Inventory during such
period, and AMMO hereby agrees that any such sale of the Subject Inventory shall not constitute a violation of any agreement by
and among the Parties, including but not limited to the Intellectual Property Sale, Assignment & License Agreement between
Jagemann and Enlight entered into as of March 14, 2019. Notwithstanding the foregoing and for the avoidance of doubt, upon the
effectiveness of this Settlement Agreement, Jagemann is not obligated to sell inventory to AMMO in the future, absent a mutual
agreement to provide such inventory on terms that are mutually agreeable to the Parties.

 

8.
Jagemann Releases AMMO. Jagemann, for itself and its parent company, subsidiaries, affiliated entities, insurers, predecessors,
successors, assigns, officers, directors, shareholders, employees, attorneys and agents, (hereinafter collectively the “Jagemann
Releasing Parties”) releases and discharges AMMO, its parent company, subsidiaries, affiliated entities, insurers, predecessors,
successors, assigns, officers, directors, shareholders, employees, attorneys and agents, (hereinafter collectively the
“AMMO Released Parties”), from any and all claims, known or unknown, which the Jagemann Releasing Parties now has
or in the future may have arising from anything that has occurred prior to the date of this release.

 

9.
AMMO Releases Jagemann. AMMO, for itself and its parent company, subsidiaries (including but not limited to Enlight), affiliated
entities, insurers, predecessors, successors, assigns, officers, directors, shareholders, employees, attorneys and agents, (hereinafter
collectively the “AMMO Releasing Parties”) releases and discharges Jagemann, its parent company, subsidiaries, affiliated
entities, insurers, predecessors, successors, assigns, officers, directors, shareholders, employees, attorneys and agents,
(hereinafter collectively the “Jagemann Released Parties”), from any and all claims, known or unknown, which the
AMMO Releasing Parties now has or in the future may have arising from anything that has occurred prior to the date of this release.

 

10.
Unknown Personal Injury or Property Damage Claims. Notwithstanding the releases contained in Sections 8 and 9 above, Jagemann
and AMMO agree that, in the event of a future claim arising out of personal injury or property damage first asserted and first
known after the effectiveness of this Settlement Agreement brought against any of the Jagemann Releasing Parties or AMMO Releasing
Parties by a third-party (i.e. not any of the Jagemann Releasing Parties or AMMO Releasing Parties) each of Jagemann and AMMO
reserve their rights to assert claims for contribution or indemnification, under any basis at law or in equity, against the other
Party or any other person being released in Sections 8 and 9 above.

 

    	 

     

    

 

11.
Opportunity to Consult with Counsel/Consider Future Claims. The Parties acknowledge that they have had a reasonable opportunity
to consult with counsel concerning this Settlement Agreement. The Parties also acknowledge that they are providing mutual, general
releases and have had a reasonable opportunity to consider whether there may be damages, injuries, claims, obligations and liabilities
which presently are unknown, unforeseen or not yet in existence, and intend to release same as set forth in this Settlement Agreement.

 

12.
No Acknowledgment of Fault. The Parties agree that this settlement is the compromise of disputed claims and agree that
nothing in this Settlement Agreement shall be construed as an admission of any fault or liability by any Party.

 

13.
Exchange of Signatures. Signature pages may be transmitted by facsimile or electronically. Upon delivery via facsimile
or electronically, a signature shall be deemed an original and shall be admissible in evidence.

 

14.
Entire Agreement. This Settlement Agreement represents the entire agreement between the Parties and supersedes all prior
negotiations, representations or agreements between the Parties, either written or oral. The Parties are not relying on any statements
or promises other than what is said in this Settlement Agreement.

 

15.
Amendment to Agreement. This Settlement Agreement may be amended only by written instrument designated as an amendment
to this Settlement Agreement and executed by the Parties to this Settlement Agreement (or their successors).

 

16.
Choice of law. All disputes arising under or relating to this Settlement Agreement shall be governed by, and the terms
of this Settlement Agreement shall be construed and interpreted in accordance with, the laws of the State of Wisconsin without
regard to conflict of law principles.

 

17.
Governing Law; Submission to Jurisdiction.

 

(a)
This Settlement Agreement shall be governed by and construed in accordance with the internal laws of the State of Wisconsin without
giving effect to any choice or conflict of law provision or rule (whether of the State of Wisconsin or any other jurisdiction).

 

(b)
Any action to enforce or interpret this Settlement Agreement, or to resolve disputes with respect to this Settlement Agreement
shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association (except
as provided in subsection (b) below). Except as provided in subsection (b) below, arbitration shall be the exclusive dispute resolution
process. Any Party may commence arbitration by sending a written demand for arbitration to the other Party. Such demand shall
set forth the nature of the matter to be resolved by arbitration. Any arbitration proceeding instituted under this Settlement
Agreement shall be conducted in the English language through an office of the American Arbitration Association located in or near
Manitowoc County, Wisconsin unless a different location is selected by joint written consent of the Parties. The costs of the
arbitration, including any American Arbitration Association administration fee, the arbitrator’s fee, and costs for the
use of facilities during the hearings, shall be borne equally by the Parties to the arbitration; provided, however, that the prevailing
party shall be entitled to reimbursement of such fees, costs and attorneys’ fees and expenses incurred in connection with
the arbitration at the discretion of the arbitrator. All decisions of the arbitrator shall be final, binding, non-appealable and
conclusive on all Parties. Judgment may be entered upon any such decision in accordance with applicable law in any court having
jurisdiction thereof. The arbitrator (if permitted under applicable law) or such court may issue a writ of execution to enforce
the arbitrator’s decision.

 

    	 

     

    

 

(c)
The provisions of Section 17 hereof shall not be construed as prohibiting any Party to this Settlement Agreement from applying
to any court of competent jurisdiction for such injunctive or other provisional relief as may be necessary to protect that Party
from irreparable harm or injury or to preserve the status quo pending resolution of a dispute.

 

18.
Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SETTLEMENT AGREEMENT
OR THE OTHER ANCILLARY AGREEMENTS IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY
AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING
TO THIS SETTLEMENT AGREEMENT, THE OTHER ANCILLARY AGREEMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY TO
THIS SETTLEMENT AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY
HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED
TO ENTER INTO THIS SETTLEMENT AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

19.
Construction. This Settlement Agreement has been drafted with the assistance of counsel for each Party and shall not be
construed in favor of, or against, any Party.

 

[Signature
page follows]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Settlement Agreement as of the date first written above.

 

	 	Jagemann
    Stamping Company:
	 	 	 
	 	BY	/s/
    Tom Jagemann
	 	Its	CEO
	 	 	 
	 	Enlight
    Group II, LLC:
	 	 	 
	 	BY	/s/
    Fred Wagenhals
	 	Its	CEO,
    Ammo, Inc. - Managing Member
	 	 	 
	 	AMMO,
    Inc.:
	 	 	 
	 	BY	/s/
    Fred Wagenhals
	 	Its	CEO

 

    	 

     

    

 

EXHIBIT
A-1

 

THE
SECURITY REPRESENTED HEREBY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT AND SUCH STATE SECURITIES LAWS, OR AN EXEMPTION FROM REGISTRATION THEREUNDER.

 

PROMISSORY
NOTE A

 

	$5,803,800.00	 	Manitowoc,
    Wisconsin
	 	 	June
    26, 2020

 

FOR
VALUE RECEIVED, the undersigned, ENLIGHT GROUP II, a Delaware limited liability company whose principal address is 7681 East Gray
Road, Scottsdale, Arizona (“EGII”), and AMMO, INC., a Delaware corporation whose principal address is 7681
East Gray Road, Scottsdale, Arizona (“AMMO”) (EGII and AMMO are individually and together referred to herein
as “Borrower”, as the context shall permit or allow), hereby promises to pay to the order of JAGEMANN STAMPING
COMPANY, a Wisconsin corporation, whose principal address is 5757 West Custer Street, Manitowoc, Wisconsin 54221-0217 (“Lender”),
the principal sum of Five Million Eight Hundred Three Thousand Eight Hundred and 00/100 Dollars ($5,803,800.00), plus interest
thereon as set forth below, on or prior to the Maturity Date (as defined in Section 1) to the account of Lender, in accordance
with the terms set forth below.

 

1.
Definitions. As used in this Promissory Note A (“Note”), the following terms shall have the following meanings:

 

“Bankruptcy
Default” means any Event of Default described in Sections 6.1(d), 6.1(e) or 6.1(f).

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which banks in Manitowoc, Wisconsin are required to
close.

 

“Closing
Date” shall mean June 26, 2020.

 

“Default”
means any act, event, condition or omission which, with the giving of notice or lapse of time, would constitute an Event of Default
if uncured or unremedied.

 

“Dollars”
means the lawful currency of the United States.

 

“Event
of Default” means the occurrence of any of the events described in Section 6.1 of this Note.

 

    	 

     

    

 

“Governmental
Authority” means any foreign, federal, state, municipal or other government, or any department, commission, board, bureau,
agency, public authority or instrumentality thereof or any court or arbitrator.

 

“Loan”
means the extension of credit made by Lender to Borrower evidenced by this Note.

 

“Maturity
Date” means August 15, 2021, or such earlier date on which the obligations under this Note become due and payable pursuant
to the terms hereof.

 

“Payment
Date” means the 10th day of each month of each fiscal year of Borrower; provided that if the 10th day of
a month is not a Business Day, the payment due on such date shall be due on the immediately preceding Business Day.

 

“Person”
means any natural person, corporation, limited liability company, joint venture, limited liability partnership, partnership, association,
trust or other entity or any Governmental Authority.

 

“Related
Documents” means this Note, the Settlement Agreement, the Use Agreement, the General Business Security Agreements dated
as of the date hereof from Borrower to Lender and the Security Agreement dated March 14, 2019 from EGII to Lender, all as amended,
restated, replaced, supplemented or otherwise modified from time to time.

 

“Settlement
Agreement” means the Settlement Agreement dated as of the date hereof among Lender, EGII and AMMO.

 

“Use
Agreement” means the Use Agreement dated as of the date hereof between Lender and EGII.

 

2.
Interest Rate; Default Rate; Late Fee.

 

2.1
Interest Rate. The interest rate to be applied to the unpaid principal balance of the Loan will be a per annum rate equal
to the 9.0%. Interest on this Note is computed on an Actual 360 basis; that is, by applying the ratio of the interest rate over
a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance
is outstanding. All interest payable under this Note is computed using this method.

 

2.2
Default Rate. Notwithstanding the foregoing, upon the occurrence and during the continuance of an Event of Default, the
unpaid principal balance of the Loan and any accrued and unpaid interest shall bear interest at an annual rate (the “Default
Rate”) equal to the rate otherwise in effect under Section 2.1 plus 3.0 percentage points, payable upon demand. On and after
the Maturity Date, the unpaid principal balance of the Loan and all accrued interest thereon shall bear interest at the Default
Rate, payable upon demand.

 

    	2

     

    

 

2.3
Late Fee. If a payment is not made on or before the 15th day after its due date, Borrower will be charged 5.00% of the
unpaid portion of the regularly scheduled payment.

 

2.4
Maximum Rate of Interest. Nothing herein contained shall be deemed to require Borrower to pay or be liable for the payment
of interest upon the Loan in excess of the maximum legal rate of interest (if there be any maximum) allowable under the laws of
the State of Wisconsin. If for any reason interest in excess of the amount as limited in the foregoing sentence shall have been
paid hereunder, whether by reason of acceleration of this Note, payment of any penalty or premium, or otherwise, then and in that
event, any such excess interest shall constitute and be treated as a payment of principal hereunder and shall operate to reduce
the principal balance of the Loan by the amount of such excess, or if in excess of the then outstanding principal balance of the
Loan, such excess shall be refunded.

 

3.
Payments.

 

3.1
Principal and Interest. The unpaid principal balance of the Loan outstanding from time to time, together with accrued interest
thereon, shall be repayable in equal monthly installments of principal and interest of $120,477 each. Such payments shall be due
on June 26, 2020 and also on each Payment Date, commencing on July 10, 2020, provided, that any remaining outstanding principal
balance of the Loan, together with all unpaid accrued interest thereon, shall be repaid in full on the Maturity Date.

 

3.2
Application of Payments. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued
unpaid interest; then to principal then to any unpaid collection costs; and then to any late charges. Borrower will pay Lender
at Lender’s address shown above or at such other place as Lender may designate in writing.

 

3.3
Early Payment. Borrower may pay all or a portion of the amount owed earlier than it is due. Early payments will not, unless
agreed to by Lender in writing, relieve the Borrower of its obligation to continue to make payments on this Note. Rather, early
payments will reduce the principal balance due and may result in Borrower making fewer payments. Borrower agrees not to send Lender
payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment,
Lender may accept it without communications concerning disputed amounts, including any check or other payment instrument that
indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions
or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: JAGEMANN STAMPING COMPANY, 5757 West
Custer Street, Manitowoc, Wisconsin 54221-0217.

 

3.4
Mandatory Prepayment. Upon the closing of any executed and funded public offering for AMMO (“Offering”), Borrower
agrees to remit the following amounts to Lender to be applied as a prepayment of that certain Promissory Note B dated as of the
date hereof from Borrower to Lender (“Note B”) and, upon payment in full of Note B, to this Note:

 

    	3

     

    

 

(a)
In the case of an executed and funded Offering in an amount equal to or less than $10,000,000, an amount equal to the lesser of
(i) ninety percent (90%) of the proceeds of such Offering or (ii) seventy percent (70%) of then aggregate outstanding balance
of this Note and Note B; and

 

(b)
In the case of an executed and funded Offering in an amount greater than $10,000,000, an amount equal to one hundred percent (100%)
of then aggregate outstanding balance of this Note and Note B.

 

4.
Prepayment. Borrower may prepay the Loan together with any accrued and unpaid interest thereon at any time in whole or
in part without premium or penalty.

 

5.
Representations and Warranties. To induce Lender to make the Loan, Borrower represents and warrants to Lender that:

 

5.1
Organization; Subsidiaries; Corporate Power. Borrower is a corporation or limited liability company, as applicable, duly
organized and validly existing under the laws of the State of Delaware.

 

5.2
Authorization and Binding Effect. The execution and delivery by Borrower of the Related Documents, and the performance
by Borrower of its obligations thereunder: (a) are within its power as a limited liability company and/or corporation, as applicable,
(b) have been duly authorized by proper action on the part of the governing body of Borrower, (c) are not in violation of any
Requirement of Law, the organizational or charter documents of Borrower or the terms of any agreement, restriction or undertaking
to which Borrower is a party or by which Borrower is bound, and (d) do not require the approval or consent of the holders of the
equity interests of Borrower, any Governmental Authority or any other Person, other than those obtained and in full force and
effect. The Related Documents, when executed and delivered, will constitute the valid and binding obligations of Borrower enforceable
in accordance with their terms, except as limited by bankruptcy, insolvency or similar laws of general application affecting the
enforcement of creditors’ rights and except to the extent that general principles of equity might affect the specific enforcement
of such Related Documents.

 

5.3
Accuracy of Information. All information, certificates or statements given to Lender pursuant to this Note shall be true
and complete when given.

 

6.
Events of Default, Acceleration and Remedies.

 

6.1
Events of Default. The occurrence of any of the following shall constitute an Event of Default under this Note:

 

(a)
Borrower fails to pay all or any portion of any amount due hereunder when the same becomes due and payable, whether at a stated
payment date or by acceleration, and such failure continues for ten days following Borrower’s receipt of Lender’s
written notice of such failure; or

 

    	4

     

    

 

(b)
any representation or warranty made herein is false in any material respect on the date as of which it is made or as of which
the same is to be effective; or

 

(c)
Borrower fails to comply with any term, covenant or agreement contained herein subject to any applicable grace period or cure
period; or

 

(d)
Borrower becomes insolvent or fails generally to pay debts as they become due; or

 

(e)
the taking of action by Borrower to become the subject of proceedings under the United States Bankruptcy Code; or the execution
by Borrower of a petition to become a debtor under the United States Bankruptcy Code; or the entry of an order for relief under
the United States Bankruptcy Code against Borrower; or Borrower making an assignment for the benefit of creditors; or Borrower
consenting to the appointment of a custodian, receiver, trustee or other officer with similar powers for it, or for any substantial
part of its property; or adjudicating of Borrower as insolvent; or

 

(f)
if any Governmental Authority of competent jurisdiction shall enter an order appointing, without consent of Borrower, as applicable,
a custodian, receiver, trustee or other officer with similar powers with respect to Borrower, or with respect to any substantial
part of Borrower’s property, or if an order for relief relating to Borrower shall be entered in any case or proceeding for
liquidation or reorganization or otherwise to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering
the dissolution, winding-up or liquidation of Borrower, or if any petition for any such relief shall be filed against Borrower
and such petition shall not be dismissed or stayed within 60 days; or

 

(g)
Any breach, violation, or default shall occur under any of the other Related Documents and shall continue beyond any applicable
notice and cure period set forth therein.

 

6.2
Acceleration. Upon the occurrence of:

 

(a)
any Bankruptcy Default, the unpaid principal balance of the Loan and all accrued and unpaid interest thereon at that time outstanding
automatically shall mature and become due, and

 

(b)
any other Event of Default, Lender, at any time, at its option, and without notice or demand, may declare the outstanding principal
amount of the Loan and all accrued and unpaid interest thereon, due and payable, whereupon such amounts immediately shall mature
and become due and payable, all without presentment, protest or notice, all of which hereby are waived.

 

6.3
Remedies. Upon the occurrence of any Event of Default, Lender, at its option, may enforce or cause to be enforced any of
the rights or remedies accorded to Lender at equity or law, by virtue of this Note, the other Related Documents, by statute or
otherwise.

 

    	5

     

    

 

7.
Miscellaneous.

 

7.1
Waivers. Borrower expressly hereby waives presentment for payment, protest and demand and notice of protest, demand, dishonor,
nonpayment, intent to accelerate and acceleration of this Note, and expressly agrees that this Note, or any payment hereunder,
may be extended from time to time before, at or after maturity, without in any way affecting the liability of Borrower.

 

7.2
Modifications. This Note may only be amended by an instrument in writing signed by the party against whom enforcement of
the change or amendment is sought.

 

7.3
Successors and Assigns. This Note shall be binding upon Borrower and upon Borrower’s successors and assigns, and
shall inure to the benefit of Lender and its successors and assigns; provided that Borrower’s rights under this Note are
not assignable without the prior written consent of Lender.

 

7.4
Severability. In the event that any provision of this Note is deemed to be invalid by reason of the operation of any law
or by reason of the interpretation placed thereon by any Governmental Authority, the validity, legality and enforceability of
the remaining terms and provisions of this Note shall not in any way be affected or impaired thereby, all of which shall remain
in full force and effect, and the affected term or provision shall be modified to the minimum extent permitted by law so as to
achieve most fully the intention of this Note.

 

7.5
Time of the Essence. Time for the performance of the obligations under this Note is of the essence.

 

7.6 Expenses.
Borrower agrees to pay on demand (i) all out-of-pocket expenses incurred by Lender in connection with the administration,
amendment or enforcement of this Note and the other Related Documents including the reasonable fees and expenses of
Lender’s counsel, (ii) any taxes (including any interest and penalties relating thereto) payable by Lender on or with
respect to the transactions contemplated by this Note (Borrower hereby agreeing to indemnify Lender with respect thereto) and
(iii) all out-of-pocket expenses, including the reasonable fees and expenses of Lender’s counsel, incurred by Lender in
connection with any litigation, proceeding or dispute in any way related to Lender’s relationship with Borrower,
whether arising hereunder or otherwise. The obligations of Borrower under this paragraph will survive payment of this
Note.

 

7.7
Governing Law. This Note shall be construed in accordance with and governed by the laws and decisions of the State of Wisconsin.

 

    	6

     

    

 

7.8
Setoff. As security for payment of this Note, Borrower grants to Lender a security interest in and lien on any credit balance
or other money now or hereafter owed Borrower by Lender. In addition, Borrower agrees that Lender may, at any time after the occurrence
of an Event of Default, without prior notice, set off against any such credit balance or other money all or any part of this Note,
irrespective of whether Lender shall have made demand under this Note and although such obligations may be contingent or unmatured.

 

7.9
Notices. All notices provided for herein shall be in writing and shall be (a) personally delivered or (b) sent by express
or first class mail; and, if to Lender, addressed to it at 5757 West Custer Street, Manitowoc, Wisconsin 54221-0217, attention:
Ralph Hardt and, if to Borrower, addressed to it at 7681 East Gray Road, Scottsdale, Arizona 85260, attention: Fred Wagenhals
and John Flynn, or to such other address with respect to any party as such party shall notify the others in writing; such notices
shall be deemed given when delivered, mailed or so transmitted.

 

7.10
Joint and Several. If Borrower is comprised of more than one Person, the obligations of such Persons under this Note and
the other Related Documents shall be joint and several.

 

7.11
No Novation. This Note, together with Note B, amends, restates and supersedes in its entirety, and is given as a replacement
for, and not in satisfaction of or as a novation with respect to, that certain Promissory Note in the principal amount of

$10,400,000,
executed by Borrower in favor of Lender and dated March 14, 2019, as amended to date.

 

7.12
Jury Waiver. BORROWER AND LENDER (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY
WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) BETWEEN BORROWER
AND LENDER ARISING OUT OF OR IN ANY WAY RELATED TO THIS NOTE, ANY OTHER RELATED DOCUMENT OR ANY RELATIONSHIP BETWEEN LENDER AND
BORROWER. THIS PROVISION IS A MATERIAL INDUCEMENT TO LENDER TO PROVIDE THE FINANCING DESCRIBED HEREIN.

 

7.13
Submission to Jurisdiction; Service of Process. ALL JUDICIAL PROCEEDINGS IN ANY MANNER RELATING TO OR ARISING OUT OF THIS
NOTE OR ANY OBLIGATIONS HEREUNDER MAY BE BROUGHT ONLY IN COURTS OF THE STATE OF WISCONSIN LOCATED IN MANITOWOC COUNTY OR THE FEDERAL
COURT FOR THE EASTERN DISTRICT OF WISCONSIN. BY EXECUTING AND DELIVERING THIS NOTE, BORROWER IRREVOCABLY:

 

(a)
ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS;

 

(b)
WAIVES ANY DEFENSE OF FORUM NON CONVENIENS;

 

(c)
AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN
RECEIPT REQUESTED, TO BORROWER AT ITS ADDRESS SET FORTH IN THE INTRODUCTORY PARAGRAPH OF THIS NOTE;

 

(d)
AGREES THAT SERVICE AS PROVIDED IN CLAUSE (c) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER BORROWER IN ANY SUCH PROCEEDING
IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND

 

(e)
AGREES THAT LENDER RETAINS THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST BORROWER
IN THE COURTS OF ANY OTHER JURISDICTION.

 

[remainder
of page intentionally left blank; signature page follows]

 

    	7

     

    

 

IN
WITNESS WHEREOF, this Note has been executed and delivered by Borrower as of the date first set forth above.

 

	 	BORROWER:
	 	 
	 	ENLIGHT
    GROUP II, LLC
	 	 	 
	 	BY
    	/s/
    Fred Wagenhals
	 	Name:
    	Fred
    Wagenhals
	 	Title:
    	CEO,
    Ammo, Inc. - Managing Member
	 	 	 
	 	AMMO, INC.
	 	 	 
	 	BY
    	/s/
    Fred Wagenhals
	 	Name:
    	Fred
    Wagenhals
	 	Title:
    	CEO

 

    	 

     

    

 

EXHIBIT
A-2

 

THE
SECURITY REPRESENTED HEREBY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT AND SUCH STATE SECURITIES LAWS, OR AN EXEMPTION FROM REGISTRATION THEREUNDER.

 

PROMISSORY
NOTE B

 

	$2,635,797.00	 	Manitowoc,

        Wisconsin

	 	 	 
	 	 	June
    26, 2020

 

FOR
VALUE RECEIVED, the undersigned, ENLIGHT GROUP II, a Delaware limited liability company whose principal address is 7681 East Gray
Road, Scottsdale, Arizona (“EGII”), and AMMO, INC., a Delaware corporation whose principal address is 7681
East Gray Road, Scottsdale, Arizona (“AMMO”) (EGII and AMMO are individually and together referred to herein
as “Borrower”, as the context shall permit or allow), hereby promises to pay to the order of JAGEMANN STAMPING
COMPANY, a Wisconsin corporation, whose principal address is 5757 West Custer Street, Manitowoc, Wisconsin 54221-0217 (“Lender”),
the principal sum of Two Million Six Hundred Thirty-Five Thousand Seven Hundred Ninety-Seven and 00/100 Dollars ($2,635,797.00),
plus interest thereon as set forth below, on or prior to the Maturity Date (as defined in Section 1) to the account of Lender,
in accordance with the terms set forth below.

 

1.
Definitions. As used in this Promissory Note B (“Note”), the following terms shall have the following meanings:

 

“Bankruptcy
Default” means any Event of Default described in Sections 6.1(d), 6.1(e) or 6.1(f).

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which banks in Manitowoc, Wisconsin are required to
close.

 

“Closing
Date” shall mean June 26, 2020.

 

“Default”
means any act, event, condition or omission which, with the giving of notice or lapse of time, would constitute an Event of Default
if uncured or unremedied.

 

“Dollars”
means the lawful currency of the United States.

 

“Event
of Default” means the occurrence of any of the events described in Section 6.1 of this Note.

 

    	 

     

    
 

“Governmental
Authority” means any foreign, federal, state, municipal or other government, or any department, commission, board, bureau,
agency, public authority or instrumentality thereof or any court or arbitrator.

 

“Loan”
means the extension of credit made by Lender to Borrower evidenced by this Note.

 

“Maturity
Date” means August 15, 2021, or such earlier date on which the obligations under this Note become due and payable pursuant
to the terms hereof.

 

“Payment
Date” means the 10th day of each month of each fiscal year of Borrower; provided that if the 10th day of
a month is not a Business Day, the payment due on such date shall be due on the immediately preceding Business Day.

 

“Person”
means any natural person, corporation, limited liability company, joint venture, limited liability partnership, partnership, association,
trust or other entity or any Governmental Authority.

 

“Related
Documents” means this Note, the Settlement Agreement, the Use Agreement, the General Business Security Agreements dated
as of the date hereof from Borrower to Lender and the Security Agreement dated March 14, 2019 from EGII to Lender, all as amended,
restated, replaced, supplemented or otherwise modified from time to time.

 

“Settlement
Agreement” means the Settlement Agreement dated as of the date hereof among Lender, EGII and AMMO.

 

“Use
Agreement” means the Use Agreement dated as of the date hereof between Lender and EGII.

 

2.
Interest Rate; Default Rate; Late Fee.

 

2.1
Interest Rate. The interest rate to be applied to the unpaid principal balance of the Loan will be a per annum rate equal
to the 9.0%. Interest on this Note is computed on an Actual 360 basis; that is, by applying the ratio of the interest rate over
a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance
is outstanding. All interest payable under this Note is computed using this method.

 

2.2
Default Rate. Notwithstanding the foregoing, upon the occurrence and during the continuance of an Event of Default, the
unpaid principal balance of the Loan and any accrued and unpaid interest shall bear interest at an annual rate (the “Default
Rate”) equal to the rate otherwise in effect under Section 2.1 plus 3.0 percentage points, payable upon demand. On and after
the Maturity Date, the unpaid principal balance of the Loan and all accrued interest thereon shall bear interest at the Default
Rate, payable upon demand.

 

    	2

     

    

 

2.3
Late Fee. If a payment is not made on or before the 15th day after its due date, Borrower will be charged 5.00% of the
unpaid portion of the regularly scheduled payment.

 

2.4
Maximum Rate of Interest. Nothing herein contained shall be deemed to require Borrower to pay or be liable for the payment
of interest upon the Loan in excess of the maximum legal rate of interest (if there be any maximum) allowable under the laws of
the State of Wisconsin. If for any reason interest in excess of the amount as limited in the foregoing sentence shall have been
paid hereunder, whether by reason of acceleration of this Note, payment of any penalty or premium, or otherwise, then and in that
event, any such excess interest shall constitute and be treated as a payment of principal hereunder and shall operate to reduce
the principal balance of the Loan by the amount of such excess, or if in excess of the then outstanding principal balance of the
Loan, such excess shall be refunded.

 

3.
Payments.

 

3.1
Principal and Interest. The unpaid principal balance of the Loan outstanding from time to time, together with accrued interest
thereon, shall be repayable in equal monthly installments of principal and interest of $83,818 each. Such payments shall be due
on June 26, 2020 and also on each Payment Date, commencing on July 10, 2020, provided, that any remaining outstanding principal
balance of the Loan, together with all unpaid accrued interest thereon, shall be repaid in full on the Maturity Date.

 

3.2
Application of Payments. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued
unpaid interest; then to principal then to any unpaid collection costs; and then to any late charges. Borrower will pay Lender
at Lender’s address shown above or at such other place as Lender may designate in writing.

 

3.3
Early Payment. Borrower may pay all or a portion of the amount owed earlier than it is due. Early payments will not, unless
agreed to by Lender in writing, relieve the Borrower of its obligation to continue to make payments on this Note. Rather, early
payments will reduce the principal balance due and may result in Borrower making fewer payments. Borrower agrees not to send Lender
payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment,
Lender may accept it without communications concerning disputed amounts, including any check or other payment instrument that
indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions
or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: JAGEMANN STAMPING COMPANY, 5757 West
Custer Street, Manitowoc, Wisconsin 54221-0217.

 

3.4
Mandatory Prepayment. Upon the closing of any executed and funded public offering for AMMO (“Offering”), Borrower
agrees to remit the following amounts to Lender to be applied as a prepayment of this Note and, upon payment in full of the this
Note, to that certain Promissory Note A dated as of the date hereof from Borrower to Lender ( “Note A”):

 

    	3

     

    

 

(a)
In the case of an executed and funded Offering in an amount equal to or less than $10,000,000, an amount equal to the lesser of
(i) ninety percent (90%) of the proceeds of such Offering or (ii) seventy percent (70%) of then aggregate outstanding balance
of this Note and Note A; and

 

(b)
In the case of an executed and funded Offering in an amount greater than $10,000,000, an amount equal to one hundred percent (100%)
of then aggregate outstanding balance of this Note and Note A.

 

4.
Prepayment. Borrower may prepay the Loan together with any accrued and unpaid interest thereon at any time in whole or
in part without premium or penalty.

 

5.
Representations and Warranties. To induce Lender to make the Loan, Borrower represents and warrants to Lender that:

 

5.1
Organization; Subsidiaries; Corporate Power. Borrower is a corporation or limited liability company, as applicable, duly
organized and validly existing under the laws of the State of Delaware.

 

5.2
Authorization and Binding Effect. The execution and delivery by Borrower of the Related Documents, and the performance
by Borrower of its obligations thereunder: (a) are within its power as a limited liability company and/or corporation, as applicable,
(b) have been duly authorized by proper action on the part of the governing body of Borrower, (c) are not in violation of any
Requirement of Law, the organizational or charter documents of Borrower or the terms of any agreement, restriction or undertaking
to which Borrower is a party or by which Borrower is bound, and (d) do not require the approval or consent of the holders of the
equity interests of Borrower, any Governmental Authority or any other Person, other than those obtained and in full force and
effect. The Related Documents, when executed and delivered, will constitute the valid and binding obligations of Borrower enforceable
in accordance with their terms, except as limited by bankruptcy, insolvency or similar laws of general application affecting the
enforcement of creditors’ rights and except to the extent that general principles of equity might affect the specific enforcement
of such Related Documents.

 

5.3
Accuracy of Information. All information, certificates or statements given to Lender pursuant to this Note shall be true
and complete when given.

 

6.
Events of Default, Acceleration and Remedies.

 

6.1
Events of Default. The occurrence of any of the following shall constitute an Event of Default under this Note:

 

(a)
Borrower fails to pay all or any portion of any amount due hereunder when the same becomes due and payable, whether at a stated
payment date or by acceleration, and such failure continues for ten days following Borrower’s receipt of Lender’s
written notice of such failure; or

 

    	4

     

    

 

(b)
any representation or warranty made herein is false in any material respect on the date as of which it is made or as of which
the same is to be effective; or

 

(c)
Borrower fails to comply with any term, covenant or agreement contained herein subject to any applicable grace period or cure
period; or

 

(d)
Borrower becomes insolvent or fails generally to pay debts as they become due; or

 

(e)
the taking of action by Borrower to become the subject of proceedings under the United States Bankruptcy Code; or the execution
by Borrower of a petition to become a debtor under the United States Bankruptcy Code; or the entry of an order for relief under
the United States Bankruptcy Code against Borrower; or Borrower making an assignment for the benefit of creditors; or Borrower
consenting to the appointment of a custodian, receiver, trustee or other officer with similar powers for it, or for any substantial
part of its property; or adjudicating of Borrower as insolvent; or

 

(f)
if any Governmental Authority of competent jurisdiction shall enter an order appointing, without consent of Borrower, as applicable,
a custodian, receiver, trustee or other officer with similar powers with respect to Borrower, or with respect to any substantial
part of Borrower’s property, or if an order for relief relating to Borrower shall be entered in any case or proceeding for
liquidation or reorganization or otherwise to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering
the dissolution, winding-up or liquidation of Borrower, or if any petition for any such relief shall be filed against Borrower
and such petition shall not be dismissed or stayed within 60 days; or

 

(g)
Any breach, violation, or default shall occur under any of the other Related Documents and shall continue beyond any applicable
notice and cure period set forth therein.

 

6.2
Acceleration. Upon the occurrence of:

 

(a)
any Bankruptcy Default, the unpaid principal balance of the Loan and all accrued and unpaid interest thereon at that time outstanding
automatically shall mature and become due, and

 

(b)
any other Event of Default, Lender, at any time, at its option, and without notice or demand, may declare the outstanding principal
amount of the Loan and all accrued and unpaid interest thereon, due and payable, whereupon such amounts immediately shall mature
and become due and payable, all without presentment, protest or notice, all of which hereby are waived.

 

6.3
Remedies. Upon the occurrence of any Event of Default, Lender, at its option, may enforce or cause to be enforced any of
the rights or remedies accorded to Lender at equity or law, by virtue of this Note, the other Related Documents, by statute or
otherwise.

 

    	5

     

    

 

7.
Miscellaneous.

 

7.1
Waivers. Borrower expressly hereby waives presentment for payment, protest and demand and notice of protest, demand, dishonor,
nonpayment, intent to accelerate and acceleration of this Note, and expressly agrees that this Note, or any payment hereunder,
may be extended from time to time before, at or after maturity, without in any way affecting the liability of Borrower.

 

7.2
Modifications. This Note may only be amended by an instrument in writing signed by the party against whom enforcement of
the change or amendment is sought.

 

7.3
Successors and Assigns. This Note shall be binding upon Borrower and upon Borrower’s successors and assigns, and
shall inure to the benefit of Lender and its successors and assigns; provided that Borrower’s rights under this Note are
not assignable without the prior written consent of Lender.

 

7.4
Severability. In the event that any provision of this Note is deemed to be invalid by reason of the operation of any law
or by reason of the interpretation placed thereon by any Governmental Authority, the validity, legality and enforceability of
the remaining terms and provisions of this Note shall not in any way be affected or impaired thereby, all of which shall remain
in full force and effect, and the affected term or provision shall be modified to the minimum extent permitted by law so as to
achieve most fully the intention of this Note.

 

7.5
Time of the Essence. Time for the performance of the obligations under this Note is of the essence.

 

7.6
Expenses. Borrower agrees to pay on demand (i) all out-of-pocket expenses incurred by Lender in connection with the administration,
amendment or enforcement of this Note and the other Related Documents including the reasonable fees and expenses of Lender’s
counsel, (ii) any taxes (including any interest and penalties relating thereto) payable by Lender on or with respect to the transactions
contemplated by this Note (Borrower hereby agreeing to indemnify Lender with respect thereto) and (iii) all out-of-pocket expenses,
including the reasonable fees and expenses of Lender’s counsel, incurred by Lender in connection with any litigation, proceeding
or dispute in any way related to Lender’s relationship with Borrower, whether arising hereunder or otherwise. The obligations
of Borrower under this paragraph will survive payment of this Note.

 

7.7
Governing Law. This Note shall be construed in accordance with and governed by the laws and decisions of the State of Wisconsin.

 

    	6

     

    

 

7.8
Setoff. As security for payment of this Note, Borrower grants to Lender a security interest in and lien on any credit balance
or other money now or hereafter owed Borrower by Lender. In addition, Borrower agrees that Lender may, at any time after the occurrence
of an Event of Default, without prior notice, set off against any such credit balance or other money all or any part of this Note,
irrespective of whether Lender shall have made demand under this Note and although such obligations may be contingent or unmatured.

 

7.9
Notices. All notices provided for herein shall be in writing and shall be (a) personally delivered or (b) sent by express
or first class mail; and, if to Lender, addressed to it at 5757 West Custer Street, Manitowoc, Wisconsin 54221-0217, attention:
Ralph Hardt and, if to Borrower, addressed to it at 7681 East Gray Road, Scottsdale, Arizona 85260, attention: Fred Wagenhals
and John Flynn, or to such other address with respect to any party as such party shall notify the others in writing; such notices
shall be deemed given when delivered, mailed or so transmitted.

 

7.10
Joint and Several. If Borrower is comprised of more than one Person, the obligations of such Persons under this Note and
the other Related Documents shall be joint and several.

 

7.11
No Novation. This Note, together with Note A, amends, restates and supersedes in its entirety, and is given as a replacement
for, and not in satisfaction of or as a novation with respect to, that certain Promissory Note in the principal amount of

$10,400,000,
executed by Borrower in favor of Lender and dated March 14, 2019, as amended to date.

 

7.12
Jury Waiver. BORROWER AND LENDER (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY
WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) BETWEEN BORROWER
AND LENDER ARISING OUT OF OR IN ANY WAY RELATED TO THIS NOTE, ANY OTHER RELATED DOCUMENT OR ANY RELATIONSHIP BETWEEN LENDER AND
BORROWER. THIS PROVISION IS A MATERIAL INDUCEMENT TO LENDER TO PROVIDE THE FINANCING DESCRIBED HEREIN.

 

7.13
Submission to Jurisdiction; Service of Process. ALL JUDICIAL PROCEEDINGS IN ANY MANNER RELATING TO OR ARISING OUT OF THIS
NOTE OR ANY OBLIGATIONS HEREUNDER MAY BE BROUGHT ONLY IN COURTS OF THE STATE OF WISCONSIN LOCATED IN MANITOWOC COUNTY OR THE FEDERAL
COURT FOR THE EASTERN DISTRICT OF WISCONSIN. BY EXECUTING AND DELIVERING THIS NOTE, BORROWER IRREVOCABLY:

 

(a)
ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS;

 

(b)
WAIVES ANY DEFENSE OF FORUM NON CONVENIENS;

 

(c)
AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN
RECEIPT REQUESTED, TO BORROWER AT ITS ADDRESS SET FORTH IN THE INTRODUCTORY PARAGRAPH OF THIS NOTE;

 

(d)
AGREES THAT SERVICE AS PROVIDED IN CLAUSE (c) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER BORROWER IN ANY SUCH PROCEEDING
IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND

 

(e)
AGREES THAT LENDER RETAINS THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST BORROWER
IN THE COURTS OF ANY OTHER JURISDICTION.

 

[remainder
of page intentionally left blank; signature page follows]

 

    	7

     

    

 

IN
WITNESS WHEREOF, this Note has been executed and delivered by Borrower as of the date first set forth above.

 

	 	BORROWER:
	 	 	 
	 	ENLIGHT
    GROUP II, LLC
	 	 	 
	 	BY
    	/s/
    Fred Wagenhals
	 	Name:	 Fred
    Wagenhals
	 	Title:
    	CEO,
    Ammo, Inc. - Managing Member
	 	 	 
	 	AMMO,
    INC.
	 	BY
    	/s/
    Fred Wagenhals
	 	Name:
    	Fred
    Wagenhals
	 	Title:
    	CEO

 

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EXHIBIT
B

 

USE
AGREEMENT

 

[Intentionally
Withheld]

 

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EXHIBIT
C

 

SUBJECT
INVENTORY

 

[Intentionally
Withheld]

 

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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]