WYNNEFIELD SEEKS TO REBUILD TECHPRECISION CREDIBILITY FOR ALL STOCKHOLDERS

Core Viewpoint - Wynnefield Partners, the largest collective stockholder of TechPrecision Corporation, is launching a campaign to nominate two directors to the Board in response to poor stockholder returns, recent M&A failures, and a lack of transparency [1][2][4]. Stockholder Returns - TechPrecision's stockholder returns have significantly underperformed the market over the past five years, with various metrics showing declines ranging from -31.2% to -53.2% [5][6]. M&A Performance - The proposed acquisition of Votaw Precision Technologies resulted in a -47.1% return from November 29, 2023, to July 2, 2024, while the STADCO acquisition has not been fully integrated and remains an underperformer after nearly three years [5][9]. - The failed Votaw transaction led to the company incurring a share-based M&A break-up fee and necessitated additional capital raising to repay loans [7][8]. Board Composition and Governance - Wynnefield believes that new independent voices are needed on TechPrecision's Board to improve transparency and business judgment [4][7]. - The lack of transparency has hindered stockholders' ability to assess investment risks and the Board's performance, with failures in timely SEC filings indicating poor oversight [6][9]. Director Nominees - Wynnefield intends to nominate General Victor Eugene "Gene" Renuart, Jr. and Robert D. Straus for the Board, citing their extensive experience and qualifications [3][11][12]. Upcoming Annual Meeting - The 2024 Annual Meeting of Stockholders is tentatively scheduled for October 2, 2024, with a record date of August 13, 2024, for stockholders entitled to vote [10][14].