The Urgent Need for Change and The Superior Path Forward

WE ARE FOCUSED ON PROTECTING STOCKHOLDER RIGHTS THROUGH GOOD GOVERNANCE ■ As the Company's largest stockholders, we are committed to best-in-class governance to enhance the value of Synalloy moving forward ■ I 01. 02. 03. 04. 05. We are intentionally not trying to replace the entire Board so that there will be a level of continuity following the Annual Meeting Our Plan To Strengthen Synalloy We recognize that there could be some perception of conflicts with UPG moving forward We intend to put real safeguards in place to protect stockholders An audit committee composed entirely of independent directors will review and approve all potential related party transactions any potential conflicts - PRIVET FUND 3 incumbent directors plus 3 unaffiliated nominees means that 6 of 8 directors on the reconstituted Board will be independent of Privet and UPG We commit to being open and transparent about our affiliations Other than Chris Hutter, none of our nominees have any economic interest in UPG 7 of 8 directors on the reconstituted Board would have zero interests in any other metals or chemicals operating companies Privet, as the Company's largest stockholder, is aligned with Synalloy's other stockholders and would stand to gain absolutely nothing by allowing Synalloy's economic value to accrue to UPG Neither Privet nor UPG have any plans to acquire the Company or somehow siphon off its value. Our sole goal is to improve Synalloy for the benefit of all stockholders UPG STRONGER TOGETHER 105

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