Vista Outdoor Board of Directors Sends Letter to Stockholders Highlighting Reasons to Vote FOR Value Maximizing CSG Transaction

Vista Outdoor Inc. (“Vista Outdoor”, the “Company”) (NYSE: VSTO) today announced that its Board of Directors sent a letter to stockholders urging them to vote “FOR” the value maximizing transaction with Czechoslovak Group a.s. (“CSG”) to acquire The Kinetic Group and invest in Revelyst at the September 27^th special meeting of stockholders.

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(Graphic: Business Wire)

The full text of the letter sent to stockholders follows:

Dear Vista Outdoor Stockholders,

The September 27^th special meeting of stockholders is fast approaching, and your vote is important.

Following a robust process over the past two years to evaluate all opportunities to maximize value for Vista Outdoor stockholders, your Board of Directors unanimously recommends stockholders approve the transaction with Czechoslovak Group a.s. (“CSG”) to acquire The Kinetic Group and invest in Revelyst (the “CSG Transaction”) and strongly believes the CSG Transaction is the best path forward to deliver maximum value to Vista Outdoor stockholders.

Your Board urges all stockholders to vote “FOR” the CSG Transaction in order to realize compelling value for The Kinetic Group now, while preserving the opportunity to participate in the upside of Revelyst, including a potential change of control premium.

The CSG Transaction Delivers the Most Value for Stockholders

On September 12^th, Vista Outdoor entered into an amended agreement with CSG, which delivers significant value to stockholders, including:

• Cash consideration of $28 per share
• One share of Revelyst common stock for each Vista Outdoor common stock
• Opportunity to participate in the upside of Revelyst and a potential change of control premium for Revelyst
• Closing in October 2024, once stockholder approval is obtained (and subject to the satisfaction of other customary closing conditions)

The CSG Transaction is superior to the last proposal from MNC Capital, which significantly undervalues Vista Outdoor, and undervalues The Kinetic Group by ~$250 million relative to the CSG Transaction.