The Urgent Need for Change and The Superior Path Forward
STOCKHOLDERS CAN TRUST THAT PRIVET AND UPG
WILL ALWAYS PUT STOCKHOLDER INTERESTS FIRST
We will continue to be open and transparent with stockholders about all of the facts
pertaining to Privet, UPG and our plan to transform Synalloy into a growing public
company that thrives for many years to come
UPG and Privet have no current or future plans
to take Synalloy private or orchestrate a sale
KEY FACTS
✓UPG and Privet have no financial relationship
outside of being members of the Stockholder
Group to invest in Synalloy
✓ UPG and Privet have completely disclosed all of
the facts surrounding their history and
involvement with Synalloy
✓ UPG does not compete with Synalloy in any
category or vertical
✓ Privet sought to avoid a proxy fight by engaging
with Synalloy in late 2019 about obtaining two
seats on the Board - but was rebuffed
PRIVET
FUND
UPG
STRONGER TOGETHER
01. 02. 03. 04. 05.
Executive Summary
CORE COMMITMENTS
✓ Chris Hutter will devote 100% of his professional
time to Synalloy if he becomes interim CEO
For all outsourcing initiatives contemplated in
our plan, we commit to running competitive RFP
processes and retaining the lowest-cost, highest-
quality service providers
✓ Our nominees commit to establishing an audit
committee comprised entirely of independent
directors to negotiate and approve any related
party transactions
✓ If elected to the Board, Chris Hutter plans to
recuse himself from any boardroom discussions
and decision-making pertaining to Synalloy's
potential use of UPG's resources
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