13D Filing: Q Global Capital Management, L.P. and Jones Energy Inc. (JONE)

subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.

Item 3. Source and Amount of Funds
or Other Considerations

The source and amount of the funds used
or to be used by the Reporting Person to purchase the shares is set forth below:

Reporting Person	Source of Funds	Amount of Funds
QGCM	Other	Not applicable (1)

(1) QGCM has not expended any of its
funds for purchases of the Issuer’s securities reported herein. QGCM and/or its affiliate Amalgamated Gadget, L.P., however,
expended $5,747,660 of the funds of Q5-R5 Trading, Ltd. (“Q5”) and/or its affiliate R² Investments, LDC
(“R2”) to purchase the shares of the Common Stock and $9,357,742 of the funds of Q5 and/or R2 to purchase the shares
of the Issuer’s 8.0% Series A Perpetual Convertible Preferred Stock (“Preferred Stock”).

Item 4. Purpose of Transaction

The Reporting Person acquired and continues
to hold the shares reported herein for investment purposes. Depending on market conditions and other factors that the Reporting
Person may deem material to its investment decisions, the Reporting Person may sell all or a portion of the shares, or may purchase
additional shares, on the open market or in one or more private transactions.

On September 13, 2017, the Reporting Person
sent the following letter to the Board of Directors of the Issuer:

Dear Gentlemen:

Currently, affiliates of Q Investments, L.P.
directly hold equity or shares convertible into equity equal to approximately 5.7% of your common stock on a fully diluted basis
accounting for conversion of the company’s preferred securities and the Class A and Class B common shares. We also hold an
additional approximately 9.4% of your common stock or shares convertible into common stock through cash settled swaps on a fully
diluted basis. In total, our exposure equals over 15% of your common stock on a fully diluted basis.^[1]

On July 20, 2017, as you recall, we sent you
the attached letter (Exhibit A) asking that you merely consider raising money through a DrillCo structure by hiring an investment
bank to evaluate such a structure.

Your equity started 2017 at $4.60 per share.
Since that point, oil and gas prices are approximately down only 9% and 8% across the curve, while your stock has lost approximately
75% of its value and now trades around $1.00!

We believe the market is clearly sending you
a wakeup call. We hope you are listening. The market has lost patience. We believe the message is clear – the company has
too much leverage and even