HC2 Holdings Highlights Its Vision for the Future - Seite 2

• 40% reduction in overhead since 2017 while managing risk to stockholders
• Continuous reductions in compensation
• Ongoing reduction in vendor costs
• Further execution of debt strategy will allow for additional reductions

Build a Portfolio Focused on Innovation & Growth

• Focus on growth assets best positioned to deliver long-term stockholder value: Broadcasting, Energy and Life Sciences
• Invest in diverse assets that provide stockholders with mitigated risk and a wide breadth of opportunities to achieve growth and profitability
• Grow to harvest these assets: build value over time to potentially monetize assets at attractive multiples

Improve Governance

• Nominated Avie Glazer of Lancer Capital, a stockholder representative and owner of approximately 5.3% of outstanding shares, to HC2’s slate of director nominees at the 2020 annual meeting of stockholders where Mr. Glazer will be appointed Chairman if elected
• Separated Chairman and CEO roles and appointed an Independent Interim Chairman
• Stockholder-friendly governance provisions (including a majority voting standard in uncontested director elections, majority voting standard to amend the charter and by-laws and a declassified Board structure, among others)
• Qualified directors with public company experience
• 5 of our 6 directors are truly independent and meet NYSE independence requirements

Percy Rockdale’s Business Plan is Impractical, Illogical, Would Be Difficult and Costly to Execute and Could Destroy HC2’s Future

“Generate up to $500m in liquidity over 3-12 months”

• The key to realizing HC2’s vision - acquire, build and incubate a diverse asset pool with the objective of mitigating risk and creating long-term value - is knowing when to monetize. HC2’s Board and management team have continuously monetized assets:
  • Benevir – invested $8 million, sold for $83 million (opportunity to receive additional contingent payments)
  • Global Marine Group – purchase value of $260 million, sold for $390 million
• Percy Rockdale demonstrates, at best, a cursory understanding of how to run the HC2 business and instead relies upon thoughtless sales of HC2’s growth assets at the exact wrong stage in their growth without regard to their true value
• Percy Rockdale’s premature sale plan does not account for station growth in the broadcasting business, the expected commercialization of R2 or the timing of the last clinical trial for Medibeacon

“Reduce go-forward annual overhead by 75% right away”