Tejon Ranch Co.'s Refreshed and Highly Qualified Board is Best Positioned to Create Long-Term Value and Realize Tejon's Strategic Goals

Core Viewpoint - Tejon Ranch Co. urges shareholders to vote for its 10 director nominees on the WHITE proxy card, emphasizing the inexperience and potential risks associated with Bulldog Investors' nominees [1][2][3]. Group 1: Tejon's Position - Tejon's Annual Meeting is scheduled for May 13, 2025, and shareholders are encouraged to vote for the company's qualified director nominees [2][3]. - Tejon's Board highlights its commitment to shareholder engagement and value creation, contrasting with Bulldog's lack of constructive engagement [4][6]. - The company asserts that Bulldog's nominees lack relevant experience in real estate and management, which could disrupt the Board's effectiveness [5][7]. Group 2: Bulldog's Campaign - Bulldog Investors is characterized as a hedge fund with a history of proxy campaigns, attempting to install three unqualified individuals on Tejon's Board [3][6]. - Independent third parties, including major proxy advisory firms, have recognized deficiencies in Bulldog's campaign and the inexperience of its nominees [11][12]. - Bulldog's nominees are criticized for lacking experience in real estate and California's regulatory environment, which is essential for Tejon's operations [10][13]. Group 3: Shareholder Communication - Tejon plans to enhance shareholder communication through annual investor days and ongoing engagement with shareholders regarding governance practices [9]. - The company emphasizes the importance of voting for its nominees to protect the long-term value of investments in Tejon [16][17]. - Tejon's Board is committed to sustainable and long-term value creation, contrasting with Bulldog's unclear agenda and lack of a compelling case for change [18].