Mantle Ridge Sends Open Letter to Air Products and Chemicals, Inc. Shareholders and Employees

Core Viewpoint - Mantle Ridge LP is urging shareholders of Air Products and Chemicals, Inc. to vote for its four director nominees to enhance the company's performance and create long-term value for all stakeholders [1][3]. Group 1: Director Nominees - Mantle Ridge has nominated four highly qualified director candidates: Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley [1][3]. - The company encourages shareholders to vote the BLUE Proxy Card "FOR" these nominees and "WITHHOLD" votes for the current company nominees: Charles Cogut, Lisa A. Davis, Seifollah "Seifi" Ghasemi, and Edward L. Monser [1][3]. Group 2: Shareholder Engagement - Mantle Ridge beneficially owns approximately $1.3 billion of the outstanding common shares of Air Products [1]. - The firm emphasizes its commitment to working constructively with Air Products' continuing directors as part of a reconstituted board [1]. Group 3: Company Background - Mantle Ridge LP, founded in 2016, is characterized as an engaged, long-term owner-steward focused on creating durable long-term value for all stakeholders [5]. - The firm does not operate as a hedge fund or short-term investment vehicle, indicating a long-term investment strategy [5].