The Urgent Need for Change and The Superior Path Forward

THE CLEAR CHOICE FOR STOCKHOLDERS: A STRONGER SYNALLOY IS IN REACH UPG STRONGER TOGETHER TEAM: Highly-qualified and experienced operational and public company leaders - - Successful and experienced senior leadership, including Chris Hutter as interim CEO, to provide immediate positive impact PRIVET FUND PLAN: Proven and executed successfully before - Operational model formulated through years of developing exact same business Successfully implemented at UPG, an industry leader TRACK RECORD: Peer-Leading Results Nominees have achieved impressive growth and operational excellence at their respective companies PRIVET FUND Elect a slate of highly-qualified directors who have an articulated strategic vision and transition plan to deliver up to $25 per share in value to long-suffering Synalloy stockholders UPG STRONGER TOGETHER 01. 02. 03. 04. 05. The Right Catalysts for a Stronger Synalloy Synalloy X TEAM: Legacy Synalloy leaders who have not delivered - CEO and incumbent Board have drastically underperformed peers since 2011 - Trail the Russell 2000 by (113%) over CEO's tenure - X PLAN: Proven to fail, similar to last decade Why should stockholders put their trust in the Board again? Nothing has changed - The only constant is missed expectations X TRACK RECORD: No improvement to margins despite aggressive acquisitions fueled by debt - Dangerously high debt levels following deteriorating margins and reckless spending Stick with the status quo of a Board that has allowed leverage to reach dangerously high levels and delivered dismal stockholder returns 110

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