X0306 4 2017-08-04 1 0000043350 Gas Natural Inc. EGAS 0001612951 Winter Michael R 1375 E. 9TH STREET SUITE 3100 CLEVELAND OH 44114 1 0 0 0 Common Stock 2017-08-04 4 D 0 9234 13.10 D 0 D Pursuant to an Agreement and Plan of Merger, dated as of October 8, 2016 (the "Merger Agreement"), by and among Gas Natural Inc. ("Issuer"), FR Bison Holdings, Inc. ("Parent") and FR Bison Merger Sub, Inc. ("Merger Sub"), Merger Sub merged with and into the Issuer and the Issuer continued as the surviving corporation and a wholly-owned subsidiary of Parent, effective August 4, 2017 (the "Merger"). Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, each outstanding share of the Issuer's common stock (other than excluded shares) was cancelled and automatically converted into the right to receive $13.10 in cash, without interest. /s/ Christopher J. Hubbert, Attorney-in-Fact for Michael R. Winter 2017-08-04