Aerojet Rocketdyne Executive Chairman Warren Lichtenstein Releases Final Statement Ahead of Special Meeting

NEW YORK, June 28, 2022–(BUSINESS WIRE)–Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) (“Aerojet Rocketdyne” or the “Company”) Warren Lichtenstein, Executive Chairman, who, collectively with its affiliates and participants in its solicitation, holds approximately 5.6% of the outstanding shares of the Company, today issued the statement below in advance of a special meeting of shareholders (the “Special Meeting”) to be held on June 30, 2022. For As a reminder, Mr Lichtenstein is asking for support on the GREEN proxy card to elect its renewed slate of highly qualified nominees to the Company’s Board of Directors (the “Board”). Learn more about slate and its plan to create increased value by visiting www.SaveAerojet.com.

Mr. Lichtenstein commented:

“The viability of Aerojet Rocketdyne as an operational and salable business is on the line at this week’s special meeting. If shareholders elect Eileen Drake’s slate of director nominees, they will strengthen the power of a rogue CEO who refuses to acknowledge the company’s financial and operational deterioration and has failed to present a strategic plan.Shareholders should not be fooled by Ms. Drake’s attempts to downplay the Last 18 months of evident cash flow problems, customer complaints, employee attrition and program performance lapses. The results for the quarter indicate that the company is, in fact, reeling from neglect. These issues must be immediately resolved by a credible CEO and committed Board of Directors, or hundreds of millions, if not billions, of dollars in value will be destroyed. its. Fortunately, Mark Tucker and the rest of our updated list have diagnosed Aerojet Rocketdyne’s vulnerabilities and outlined a comprehensive fix and repair plan that targets at least $65 per share within three years.”

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VISIT WWW.SAVEAEROJET.COM TO LEARN MORE ABOUT THE LICHTENSTEIN NOMINEES AND THEIR VALUE CREATION PLAN.

VOTE IT GREEN PROXY CARD.

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Forward-looking statements

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See the source version on businesswire.com: https://www.businesswire.com/news/home/20220628005500/en/

contacts

Longacre Place Partners
Greg Marose/Joe Germani
[email protected] / [email protected]

Okapi Partners
Mark Harnett / Christian Jacques
[email protected] / [email protected]

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