NN, Inc. Announces Formation of a Strategic Committee of the Board of Directors

Core Viewpoint - NN, Inc. has formed a Strategic Committee to explore various strategic and financial alternatives aimed at enhancing shareholder value [1][2][3] Group 1: Strategic Committee Formation - The Strategic Committee consists of three independent directors: Raynard Benvenuti, Jeri Harman, and Thomas Wilson [2] - The committee's role is to evaluate a wide range of strategic, financial, and business configuration options for the company [2] Group 2: Company Achievements and Future Focus - The Board's decision reflects a commitment to maximizing shareholder value, with recent accomplishments including strengthening the executive team, expanding operating income and EBITDA, and building a new sales pipeline exceeding $800 million [3] - The company has secured approximately $200 million in new business, entered medical and data center markets, and developed a healthy M&A pipeline [3] - NN is positioned for growth and aims to advance its transformation plan while delivering high-quality products and services [3] Group 3: Advisory Engagement - NN has engaged Houlihan Lokey as its financial advisor to assist in the strategic review process [2] - There is no set timetable for the completion of the review, and the company will provide updates only upon the Board's approval of specific actions [3]