SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) today confirms that Chief Executive Officer Javan (Jay) D. Ottoson will retire at the close of business on November 2, 2020 and, as previously announced, President and Chief Operating Officer Herbert S. Vogel, will transition to the role of President and Chief Executive Officer.

On October 26, 2020, the Company's Board of Directors approved an increase in the number of authorized directors from nine to ten members and appointed Mr. Vogel to the new seat, effective as of his appointment to Chief Executive Officer. As previously announced, Mr. Ottoson will remain a member of the Board of Directors until the next annual meeting in May 2021.

Chairman of the Board of Directors William Sullivan comments: "On behalf of the Board of Directors, I would like to again thank Jay for his leadership and commitment to SM Energy. During his tenure, he successfully repositioned the Company's portfolio, leading a transformation at a critical time in our industry. As the reins are handed to Herb, we expect a seamless transition. We are confident that Herb's energy, experience, proven leadership over SM Energy's operations and high level of integrity put our Company in good hands for a profitable and sustainable future."

Mr. Vogel comments: "It is an honor and a privilege to succeed Jay in leading the SM Energy team. We have worked together for many years, and share values and priorities that will be carried forward. We have great people and top tier assets, and I look forward to leading SM Energy towards greater value creation for all of our stakeholders. I know I speak for everyone at SM when I say Jay will be missed, and we wish him the best for a long, healthy and enjoyable retirement."