X0306 4 2018-05-14 0 0000077159 PENN VIRGINIA CORP PVAC 0001616051 KLS Diversified Asset Management LP 452 FIFTH AVENUE, 22ND FLOOR NEW YORK NY 10018 1 0 0 0 Common Stock 2018-05-14 4 S 0 5500 63.15 D 1158054 I Footnote Common Stock 2018-05-14 4 S 0 10154 62.55 D 1147900 I Footnote Common Stock 2018-05-14 4 S 0 16128 61.61 D 1131772 I Footnote Common Stock 2018-05-15 4 S 0 200000 60.94 D 931772 I Footnote Common Stock 2018-05-16 4 S 0 17387 63.63 D 914385 I Footnote Common Stock 2018-05-16 4 S 0 34557 64.51 D 879828 I Footnote KLS Diversified Asset Management LP ("KLS") is the investment manager of KLS Diversified Master Fund L.P., which is the direct owner of 879,828 shares of Common Stock, par value $0.01 per share (the "Common Stock"), of Penn Virginia Corporation (the "Issuer"). The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $63.01 to $63.84, inclusive. KLS undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price within the ranges set forth in this footnote 2 and footnotes 3, 4, 5, 6 and 7. The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $62.28 to $62.92, inclusive. The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $61.50 to $61.88, inclusive. The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $60.65 to $61.40, inclusive. The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $63.50 to $63.87, inclusive. The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $63.90 to $64.87, inclusive. Michael Hanna, a Portfolio Manager at KLS, serves as a member of the board of directors of the Issuer as the representative of KLS. In connection therewith, KLS may be deemed to be a director by deputization of the Issuer solely for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended. As a result, KLS is listed as a "Reporting Person" in Item 1 and the "Director" box is marked in Item 4 of this Form 4. KLS Diversified Asset Management LP, By: /s/ Joseph Schneider, Chief Compliance Officer 2018-05-16