MNC Capital Is Not Withdrawing, and Does Not Intend to Reduce, Its $43 Per Share Offer for Vista Outdoor

MNC Capital Committed to Re-Engaging with Vista Outdoor on Acquisition of Entire Company

DALLAS--(BUSINESS WIRE)--MNC Capital Partners, L.P. (“MNC”) announced today that it is not withdrawing, and does not intend to reduce, its $43 per share all-cash offer for Vista Outdoor Inc. (NYSE: VSTO). MNC is committed to re-engaging with Vista on the acquisition of the entire company. MNC also said that the private equity firm that has been part of its efforts to acquire all of Vista (“PE Firm") is still committed to acquiring Revelyst in any MNC transaction supported by Vista in the future.

After Vista’s press release on Wednesday, MNC was advised by the PE Firm that it had approached Vista and CSG over this past weekend to explore whether they were prepared to consider a transaction where all of Vista was being acquired.

As Vista has disclosed in its own supplemental proxy filing, the PE Firm informed Vista that it was only interested in acquiring Revelyst as part of a revised transaction with CSG in which all of Vista would be sold and that it would not have any interest in acquiring Revelyst after the closing of the transaction with CSG.

Vista stockholders have no reason to believe that should they approve the current CSG transaction that Revelyst will be acquired after such approval. If the stockholders do not approve the CSG transaction, MNC believes that it can deliver a transaction for the entire company that stockholders will approve.