Jefferies Announces the Completion of the Spin-Off of Vitesse

Jefferies Financial Group Inc. (Jefferies), a leading global, full-service investment banking and capital markets firm, announced that it has completed the spin-off of Vitesse, an independent energy company engaged in the acquisition, development, and production of non-operated oil and natural gas properties in the United States

Jefferies completed the distribution of all the outstanding shares of common stock of Vitesse held by Jefferies. As a result of the Distribution, Vitesse became an independent, publicly traded company. Prior to the Distribution, Vitesse acquired all of the issued and outstanding equity interests of Vitesse Energy, LLC and Vitesse Oil, LLC.

Common shares of Jefferies and Vitesse Common Stock will begin trading "regular way" from January 17, 2023, on the New York Stock Exchange under the symbols "JEF" and "VTS," respectively.

Rich Handler, CEO of Jefferies, and Brian Friedman, President of Jefferies, remarked: "We congratulate Bob Gerrity, Brian Cree and their team for all the smart and hard work they have done to build Vitesse into the solid business it is and to help manage the process of becoming an independent, publicly traded company. As we have noted before, we each look forward to being stockholders of Vitesse and to seeing its success in the coming years."

Bob Gerrity, CEO of Vitesse, stated: "We at Vitesse could not be more excited to have gone public. We are extremely grateful to Jefferies for having provided the insight and resources that allowed us to grow from the start-up we were in 2014 to where we are today. And we are especially grateful for their confidence in us as we move into the future as an independent, publicly traded company."