Kessler Topaz Meltzer & Check, LLP and Bernstein Litowitz Berger & Grossmann LLP Announce a Proposed Settlement of Stockholder Class Action for Any Former Record Holders and All Beneficial Owners of The Common Stock of Continental Resources, Inc., At Any Time During The Period of October 17, 2022 Through and Including November 22, 2022

RADNOR, Pa., July 27, 2026 /PRNewswire/ -- 

IN THE DISTRICT COURT OF OKLAHOMA COUNTY
STATE OF OKLAHOMA

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF STOCKHOLDER CLASS
ACTION, SETTLEMENT HEARING, AND RIGHT TO APPEAR

TO:  Any former record holders and all beneficial owners of the common stock of Continental Resources, Inc. ("Continental") who held or owned such stock at any time during the period beginning on and including October 17, 2022, through and including November 22, 2022 (the "Class Period"), including any and all of their respective legal representatives, trustees, executors, administrators, estates, heirs, and any Person acting for or on behalf of, or claiming under, any of them (excluding Defendants, Former Defendants, and their immediate family members, affiliates, subsidiaries, legal representatives, heirs, estates, successors, or assigns; and any entity in which any Defendant or Former Defendant has or had a direct or indirect controlling interest) (the "Class").¹

YOU ARE HEREBY NOTIFIED that Plaintiffs Ralph Donald Turlington and Pembroke Pines Firefighters & Police Officers Pension Fund ("Co-Lead Plaintiffs"), on behalf of themselves and the Court-certified Class, have reached a proposed settlement of the above-captioned stockholder class action (the "Action") for $60,000,000 in cash (the "Settlement"). If approved, the Settlement will resolve all claims in the Action.

The Action involves allegations that Defendants Harold Hamm ("Hamm") and Bill Berry ("Berry," and together with Hamm, "Defendants") and the Former Defendants² breached their fiduciary duties in connection with the November 2022 transaction whereby the former minority shareholders of Continental were bought out by Hamm and his affiliates for $74.28 per share (the "Transaction"). Co-Lead Plaintiffs allege in the Action that:  (i) Hamm and his affiliates caused the Class to be cashed out of their Continental shares for inadequate consideration after an unfair process; (ii) Hamm and his affiliates breached their fiduciary duties by engaging in insider trading prior to publicly announcing his offer to take Continental private; (iii) Berry, McNabb, and Monroe breached their fiduciary duties by approving the Transaction; and (iv) McCain and Taylor breached their fiduciary duties by recommending that Continental's Board of Directors approve the Transaction.

A hearing (the "Settlement Hearing") will be held on November 10, 2026, at 10:00 a.m., before the honorable Richard C. Ogden of the District Court of Oklahoma County, State of Oklahoma, in Courtroom 325 of the Oklahoma County Courthouse, 321 Park Ave., Oklahoma City, OK 73102, for the following purposes: (i) to determine whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Class, and should be finally approved by the Court; (ii) to determine whether a Final Order substantially in the form attached as Exhibit E to the Stipulation should be entered dismissing the Action with prejudice against Defendants; (iii) to determine whether the proposed Plan of Allocation for the proceeds of the Settlement is fair and reasonable and should be approved; (iv) to determine whether and in what amount any award of attorneys' fees and payment of Litigation Expenses to Plaintiffs' Counsel ("Fee and Expense Award"), including any service awards to Plaintiffs ("Service Awards") to be deducted solely from any Fee and Expense Award, should be paid out of the Settlement Fund; (v) hear and rule on any objections to the Settlement, the proposed Plan of Allocation, and/or Plaintiffs' Counsel's application for a Fee and Expense Award, including any application by Plaintiffs for Service Awards (the "Fee and Expense Application"); and (vi) to consider any other matters that may properly be brought before the Court in connection with the Settlement. The Court may adjourn the Settlement Hearing without further mailed notice to the Class, and may approve the proposed Settlement with such modifications as the Parties may agree to, if appropriate, without further notice to the Class. The Court may decide to hold the Settlement Hearing by telephone or video conference without further mailed notice to the Class. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the case website, www.ContinentalShareholderLitigation.com. 

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. This notice provides only a summary of the information contained in the full Notice of Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the "Long-Form Settlement Notice"). You may obtain copies of the Long-Form Settlement Notice on the case website, www.ContinentalShareholderLitigation.com; by contacting the Settlement Administrator at: Continental Shareholder Litigation, c/o A.B. Data, Ltd., P.O. Box 170500, Milwaukee, WI 53217; by calling toll-free 877-507-0919; or by emailing [email protected].  

If the Settlement is approved by the Court and the Effective Date occurs, the Net Settlement Fund will be distributed on a pro rata basis to Class Members who held shares of Continental stock at the closing of the Transaction and therefore received or were entitled to receive the Transaction consideration ("Eligible Class Members"), in accordance with the proposed Plan of Allocation stated in the Long-Form Settlement Notice or such other plan of allocation as is approved by the Court. Pursuant to the proposed Plan of Allocation, each Eligible Class Member will be eligible to receive a pro rata payment from the Net Settlement Fund equal to the product of (i) the number of shares of Continental common stock held as of the closing of the Transaction, excluding shares held by Excluded Persons ("Eligible Shares"); and (ii) the "Per-Share Recovery" for the Settlement, which will be determined by dividing the total amount of the Net Settlement Fund by the total number of Eligible Shares held by all Eligible Class Members. As explained in further detail in the Long-Form Settlement Notice, Eligible Class Members do not have to submit a claim form to receive a payment from the Net Settlement Fund.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs' Counsel's Fee and Expense Application must be filed with the Court and mailed or emailed to Co-Lead Counsel and Defendants' Counsel such that they are received no later than October 26, 2026, in accordance with the instructions set forth in the Long-Form Settlement Notice. The Class was previously certified and, in connection with class certification, Class Members previously had the opportunity to request exclusion from the Class. There will not be a second opportunity to request exclusion in connection with the Settlement proceedings.

Please do not contact the Court, the Office of the Clerk of the Court, Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your potential payment from the Settlement should be directed to the Settlement Administrator or Co-Lead Counsel.

By Order of the Court

¹ Capitalized terms not otherwise defined herein shall have the same meaning as in the Stipulation and Agreement of Settlement, Compromise, and Release dated June 18, 2026 ("Stipulation"). The Stipulation can be viewed at www.ContinentalShareholderLitigation.com.
² The "Former Defendants" are Shelly Lambertz ("Lambertz"), John T. McNabb II ("McNabb"), Mark E. Monroe ("Monroe"), Ellis "Lon" McCain ("McCain"), Timothy G. Taylor ("Taylor"), and several trusts affiliated with the Hamm family.

SOURCE Kessler Topaz Meltzer & Check LLP and Bernstein Litowitz Berger & Grossmann LLP