Broadwind, Inc. · NASDAQ:BWEN
Broadwind — Proxy Contest (January 2023)
18 slides from Broadwind's proxy contest presentation, Jan 18, 2023
Slide 1: Our Letter To Stockholders
Slide 2: About Us
About Us WM Argyle Fund, LLC The Fund is a special purpose investment vehicle specifically created to invest in Broadwind, Inc. We are looking to ensure the long-term performance of the company by reconstituting the board with new members. We believe that Broadwind, Inc. must quickly position itself
Slide 3: Why we are doing this
Why we are doing this We believe the company has been underperforming due to strategic errors, operational inefficiencies, and inattentive governance. Stockholders have been patiently waiting for a brighter future for many years but nothing changes. While we have tried to work with the incumbent boa
Slide 4: Contact Us
Contact Us Contact Us Name Email* Message
Slide 5: Send
SEND This site is protected by reCAPTCHA and the Google F Policy and Terms of Mahony Partners InvestorCom Risk Communications SHAREHOLDER INTELLIGENCE
Slide 6: Governance Failures and Poor Historical Performance
BWEN 2023 Governance Failures The board hasn't held m No repercussions for Directors nagemel iled acquisit tenure is over nine years (5) with t porate boards, and is chairman of Lack of female board members enched despite company f a full accountable or org: tives formance, sits on four ‘0 of those
Slide 7: Wasting Net Operating Losses (NOL's)
Wasting Net Operating Losses (NOL's) Sitting on over $270 million in Net Operating Losses (NOL's) (3) NOL'S begin to expire in 2026 Company has already triggered IRS regulations limiting deductibility once before in 2011 NOL's lost value to corporate income tax reduction Clearly no urgency in using
Slide 8: Footnotes; Excessive Executive Compensation
Footnotes 1, 10-Q; Q3-2022 accumulated deficit 2. 2021 Net Income was due to PPP loan forgiveness 3. 2021 Annual Report 4. 10-Q's; 03-2016 to 03-2022 shares outstanding Excessive Executive Compensation Over the last decade, CEO's have averaged $1 million per year and collectively the top 4 executive
Slide 9: Contact form
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Slide 10: Our Plan
BWEN 2023 HOME WHAT'S WRONG NITH BWEN OUR PLAN Our Plan Acquisition Credibility Our board nominees have a long track record of succe: acquisitions from a small bolt-on to transformational M&A Successful track record of integration and realization of synergies Created significant tax strategies that
Slide 11: Create Profit and Use NOL's
Create Profit and Use NOL's ‘Create operating profit through ape reductions, and gaining scale « Use NOU's in conjunction with sustained profitability to Increase cash flow tional improvements, cost » Use cash flow to reinvest into the busin company organically and through acquis! we = ae to further
Slide 12: Contact form
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Slide 13: Our Nominees
BWEN 2023 (OUR NOMINEES Our Nominees met Ryan Bogenschneider
Slide 14: Christine Candela and Kristina Harrington
Christine Candela Ms. Candela has. served as Director, Compensation and 8: 8 global technology firm, From March 2020 f IDEMIA Group, April 2022 uary 2022, she served ‘or, Total Rewards, of REV ermarke 019 to March as Senior Director, Tot: Caterpillar Inc., a manufscturer of d mining equipm o January
Slide 15: Contact Us
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Slide 16: Disclosures
Disclosures Disclaimer This Webs available to 2 ite and the information co och of Broadwind, ne Por the /) enwise maton in the conclusions. WM ange any ofits opinions @ ‘ deems appropriate and disclaims any obligation to notfy the market or any other pany of any 5 law. WM Aegyle Fund y. WM Argyle Fu
Slide 17: Cautionary Statement Regarding Forward-Looking Statements
WM Argyle Fund makes no representaten or warranty, express or implied, as to the accuracy or completeness of those statements or any other written or oral communication it makes with respect to the Company and any other companies mentioned, and each of WM Argyle Fund, the other Participants and thei
Slide 18: Third Party Statements and Additional Information