Ascent Industries Co. · NASDAQ:ACNT

Ascent Industries — Synalloy — Proxy Contest (June 2020)

5 slides from Ascent Industries's proxy contest presentation, Jun 12, 2020

  1. Slide 1: The Board Is Making Absurd Excuses for Poor 2019 Performance (Cont.)

    01. 02. 03. 04. THE BOARD IS MAKING ABSURD EXCUSES FOR POOR Exposing Synalloy’s 2019 PERFORMANCE (CONT.) Misrepresentations and Omissions Stockholders should not buy into the ridiculous claim that 2019 was a historical aberration ▪ By presenting distorted charts and misleading data without proper co

  2. Slide 2: Unlike Synalloy, Other Metals Peers Limited 2019 Losses Through Logical Business Actions

    01. 02. 03. 04. UNLIKE SYNALLOY, OTHER METALS PEERS LIMITED Exposing Synalloy’s 2019 LOSSES THROUGH LOGICAL BUSINESS ACTIONS Misrepresentations and Omissions Peers outperformed Synalloy in 2019 because they had some insight into the weakening market conditions and adjusted their businesses according

  3. Slide 3: By May 2019 Mr. Bram Had Still Not Grasped the Impact of the Market Conditions

    01. 02. 03. 04. BY MAY 2019 MR. BRAM HAD STILL NOT GRASPED THE Exposing Synalloy’s IMPACT OF THE MARKET CONDITIONS Misrepresentations and Omissions Nearly halfway through 2019, Company management was still expecting 2018 levels… Stainless Steel Pipe and Tube PPI vs. Management Adj. EBITDA Guidance 1

  4. Slide 4: Synalloy Underperformance Continued into Q1 2020

    01. 02. 03. 04. SYNALLOY UNDERPERFORMANCE CONTINUED INTO Q1 Exposing Synalloy’s 2020 Misrepresentations and Omissions As stainless prices rebounded, Synalloy’s inability to anticipate the market cost stockholders once again ▪ Despite touting its market share gains, the Company continued to perform w

  5. Slide 5: The Synalloy Board Proactively Tried to Eliminate Cumulative Voting

    01. 02. 03. 04. THE SYNALLOY BOARD PROACTIVELY TRIED TO Setting the Record ELIMINATE CUMULATIVE VOTING Straight The same Board that is now touting its “shareholder friendly” voting measures actually tried to eliminate this benefit for stockholders in 2015 ▪ At its 2015 Annual Meeting, Synalloy’s Boa

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