Steel Partners (SPLP) Proxy Filing summary

Executive summary

• The annual meeting will be held virtually on May 23, 2025, with voting on five key proposals and other business as may arise.

• Proposals include director elections, executive compensation, auditor ratification, and an amendment to extend tax benefit protections.

• Proxy materials are available online, with electronic delivery encouraged to reduce environmental impact and costs.

• Each common unit has one vote; 19,150,619 common units are outstanding as of the record date.

Voting matters and shareholder proposals

• Five independent directors are up for election to serve until the 2026 annual meeting.

• Advisory votes will be held on executive compensation and the frequency of future say-on-pay votes, with the board recommending annual votes.

• Ratification of Deloitte & Touche LLP as the independent auditor for 2025 is proposed.

• Amendment to extend the LP Agreement's tax benefit protection provision for three years is up for approval.

• Shareholders may submit proposals for the 2026 meeting by December 4, 2025, for inclusion in the proxy statement.

Board of directors and corporate governance

• The board consists of seven members, five elected by unitholders and two appointed by SPGS.

• All five independent directors are members of the audit, compensation, and governance committees.

• The board combines the roles of chairman and CEO for enhanced oversight and communication.

• The board and committees met regularly in 2024, with all directors attending at least 75% of meetings.

• The company has adopted a code of conduct, insider trading policy, and LP unit ownership guidelines for executives.