The Shyft Group (SHYF) M&A Update Presentation summary

Transaction update

• Merger between Shyft Group and Aebi Schmidt Group is progressing on schedule, targeting completion by mid-2025.

• The combined company will be named "Aebi Schmidt Group" and listed on Nasdaq under the ticker "AEBI."

• All necessary ex-US regulatory clearances obtained; HSR waiting period expired; CFIUS review ongoing.

• $600M credit facility successfully syndicated, oversubscribed, and increased from initial plans.

• Next steps include Shyft's Q1 earnings release, shareholder approval, and final regulatory filings.

Combined leadership and governance

• Board will have separate Chairman (James Sharman, Independent) and CEO (Barend Fruithof), with a majority of independent directors.

• Board committees (Audit, Compensation, Governance & Sustainability) are fully independent per SEC and Nasdaq standards.

• Executive team brings extensive operational and M&A integration experience across North America and Europe.

Business update and market positioning

• Dedicated task forces and supply chain management in place to address macroeconomic changes and tariffs.

• Limited risk exposure to new tariffs; ability to pass on higher input costs and win market share, especially in North America.

• Landmark $56M contract secured with Minneapolis-St. Paul International Airport for snow removal vehicles.

• First delivery of Blue Arc EV trucks to FedEx in Los Angeles, strengthening long-term customer relationships.