ISS Strongly Validates Wynnefield Group’s Case for Change by Recommending Stockholders Vote For General (Ret.) Gene Renuart and Robert Straus in Order To Provide Urgently Needed Independent Oversight on TechPrecision’s Board

ISS Says “the Need for Board Change Is Self-Evident” and that Nominees General (Ret.) Renuart and Straus are “Well Positioned to Drive the Necessary Changes”

ISS is Highly Critical of the Board’s “Trust Us” Approach in Opaque Roll Out of the Failed Votaw Transaction that Resulted in Significant Dilution to Stockholders

NEW YORK, Dec. 9, 2024 /PRNewswire/ — Wynnefield Partners Small Cap Value, L.P. I and its affiliates (“Wynnefield”), and Robert D. Straus (together, with Wynnefield, the “Wynnefield Group”), who collectively own more shares of TechPrecision Corporation (the “Company” and/or “TechPrecision”) (NASDAQ: TPCS) than any other common stockholder, collectively owning approximately 7% of the Company’s outstanding stock, announced today that the leading independent proxy advisory firm Institutional Shareholder Services Inc. (“ISS”) has recommended that TechPrecision stockholders vote FOR the election of Wynnefield’s nominees, General (Ret.) Gene Renuart and Robert Straus, to the Company’s Board of Directors (the “Board”) at the Annual Meeting of Stockholders (the “Annual Meeting”), scheduled virtually for December 19, 2024.

ISS’s report affirms Wynnefield Group’s case for change at TechPrecision and advises stockholders to vote for BOTH Wynnefield Group nominees, stating:¹

ISS recommended stockholders vote WITHHOLD on 4 out of 6 Company nominees:

ISS also held incumbent Directors Levy and Schenker accountable by recommending stockholders vote WITHHOLD on their election too.

ISS criticized TechPrecision’s operational and share price underperformance, stating:

ISS was also highly critical of the Board’s handling of the failed Votaw transaction and rejected the Board’s misguided criticism of one of its largest stockholders for rightfully calling the Board out, stating:

Mr. Straus stated, “We are pleased that ISS recognized the strong case for change we have presented. If stockholders elect our nominees, we are ready and prepared to work constructively with management and the elected board to focus on steps to maximize stockholder value.”

Wynnefield encourages stockholders to review its presentation, proxy materials and letter to stockholders, all of which are available at www.RebuildTPCScredibility.com. Stockholders can support real change at TechPrecision by voting on the BLUE universal proxy card or voting instruction form FOR the election of General (Ret.) Gene Renuart and Robert Straus.

Your vote is important, no matter how many shares of Common Stock you own. We urge you to sign, date, and return the BLUE universal proxy card or voting instruction form today to vote FOR the election of the Wynnefield Group Nominees and in accordance with the Wynnefield Group’s recommendations on the other proposals on the agenda for the 2024 Annual Meeting.

If you have any questions, require assistance in voting your BLUE universal proxy card or voting instruction form, or need additional copies of Wynnefield Group’s proxy materials, please contact Saratoga Proxy Consulting at (212) 357-1311, (888) 368-0379 or by email at info@saratogaproxy.com.

1.  Permission to use ISS quotations was neither sought nor obtained

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SOURCE Wynnefield Group