The Action alleges that Defendants violated certain federal securities laws by making
misrepresentations and/or omissions of material fact in various filings with the U.S. Securities and
Exchange Commission and in other public statements to the investing public concerning the
production, reserves, and economics of the SandRidge Duane & Virginia Lanier Trust v. SandRidge Mississippian Trust I, et al.Trusts’ core holdings in an area referred to as
the Mississippian play (the “Mississippian”).