The Shyft Group Provides Supplemental Information Reinforcing Significant Value Creation Potential of Proposed Merger with Aebi Schmidt

Core Viewpoint - The Shyft Group has announced a proposed all-stock merger with Aebi Schmidt Group, which is expected to maximize shareholder value and create a leading specialty vehicles company with significant growth potential [1][3]. Transaction Overview - The merger agreement was announced on December 16, 2024, and involves an exchange of approximately 1.04 shares of the combined company's stock for each outstanding share of Shyft common stock [3]. - The transaction is structured to be tax-free for Shyft shareholders and has received unanimous approval from the boards of both companies [5]. Financial Projections - The combined company is projected to achieve pro forma revenue of $2.7 billion and adjusted EBITDA of$315 million by 2028, with an adjusted EBITDA margin of 12% [4]. - Long-term projections indicate a strategic vision to exceed $3 billion in revenue with an adjusted EBITDA margin in the mid-teens [4]. - The transaction offers a premium of approximately 30$872 million in 2023 and employing approximately 3,000 people across 19 locations [8]. - Aebi Schmidt Group is a global provider of solutions for transportation surfaces, achieving net revenue and order intake exceeding EUR 1 billion in 2024, with around 3,000 employees [9].