ISS Recommends Shareholders Vote for the Entire Independent Slate's Highly Qualified Directors, Led by CEO Eileen Drake

ISS Rejects Warren Lichtenstein's Entire Steel Partners Slate

EL SEGUNDO, Calif., June 18, 2022 /PRNewswire/ -- Eileen Drake (the CEO of Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD)) ("Aerojet Rocketdyne" or the "Company") and Gen. Kevin Chilton (Ret.), Thomas Corcoran and Gen. Lance Lord (Ret.) (three of its independent directors) issued the following statement to the shareholders of Aerojet Rocketdyne:

Fellow Shareholders,

We are gratified that Institutional Shareholder Services Inc. ("ISS"), a leading provider of proxy research and vote recommendations to the institutional investment community, has recommended that Aerojet Rocketdyne shareholders vote the WHITE proxy card "FOR" all of the Independent Slate's highly qualified director nominees, led by Eileen Drake, at the Special Meeting of Shareholders on June 30, 2022.

Ms. Drake added: "We greatly appreciate the support from ISS and our shareholders for the Independent Slate. We look forward to continuing to deliver tremendous value for the Company and our shareholders."

The Independent Slate Urges All Shareholders to Support its Highly Qualified Nominees by Voting "FOR" on the WHITE Proxy Card at the Upcoming Special Meeting on June 30, 2022

Important Information

This communication is being made in the participants' individual capacity, and not by or on behalf of the Company. No Company resources were used in connection with these materials. On June 1, 2022, Eileen P. Drake, General Kevin Chilton, USAF (Ret.), General Lance Lord, USAF (Ret.) and Thomas Corcoran (the "Incumbent Directors") filed a definitive proxy statement with the Securities and Exchange Commission (the "SEC") in connection with the solicitation of proxies for a special meeting of stockholders of the Company to be held on June 30, 2022.

Contact:
D.F. King & Co., Inc.
Edward T. McCarthy / Tom Germinario
[email protected]

Committee's Website:
https://maximizeajrdvalue.com/

SOURCE Committee for Aerojet Rocketdyne Shareholders and Value Maximization