Articles from AREX Capital Management, LP

AREX Capital Management, LP (together with its affiliates, “AREX”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSEEHAB) (“Enhabit” or the “Company”), today commented on the outcome of Enhabit’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”), in which stockholders elected Mark W. Ohlendorf to the Company’s board of directors (the “Board”).

AREX Capital Management, LP (together with its affiliates, “AREX”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSEEHAB) (“Enhabit” or the “Company”), today issued an open letter to its fellow stockholders asking them to address the deficiencies of Enhabit’s current board of directors by electing the full AREX slate, which AREX believes will support the creation of long-term value for all stockholders.

AREX Capital Management, LP (together with its affiliates, “AREX”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSEEHAB) (“Enhabit” or the “Company”), today announced that Glass, Lewis & Co. (“Glass Lewis”), a leading independent proxy advisory firm, has recommended that Enhabit’s stockholders support significant boardroom change by voting for three of its director candidates at the Company’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”) on July 25, 2024. Glass Lewis recommends that stockholders elect Maxine Hochhauser, Mark W. Ohlendorf, and Dr. Gregory S. Sheff to Enhabit’s board of directors (the “Board”). Previously, Institutional Shareholder Services Inc. recommended that stockholders elect three of AREX’s director candidates.

AREX Capital Management, LP (together with its affiliates, “AREX”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSEEHAB) (“Enhabit” or the “Company”), today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, has recommended that Enhabit’s stockholders support meaningful boardroom change by voting for three of its director candidates at the Company’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”) on July 25, 2024. ISS recommends that stockholders elect Anna-Gene O’Neal, Mark W. Ohlendorf, and Dr. Gregory S. Sheff to Enhabit’s Board of Directors (the “Board”).

AREX Capital Management, LP (together with its affiliates, “AREX”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSEEHAB) (“Enhabit” or the “Company”), today issued an open letter to its fellow stockholders expressing its disappointment in the Company’s recent investor presentation, which it believes recycles the same excuses and makes the same empty promises on which the Company has repeatedly failed to deliver.

AREX Capital Management, LP (together with its affiliates, “AREX”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSEEHAB) (“Enhabit” or the “Company”), today issued a presentation detailing the AREX Slate’s comprehensive plan to turn around Enhabit’s operational performance and reduce costs, which AREX believes could increase EBITDA by 50%.

AREX Capital Management, LP (together with its affiliates, “AREX” or “we”), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSEEHAB) (“Enhabit”), today issued an open letter to its fellow stockholders regarding the misleading statements in Enhabit’s recent communications.

Has Nominated Seven Highly Qualified Independent Directors with Industry Expertise Who Can Help Drive Improved Operating Results

Believes Enhabit’s Shares Do Not Reflect its Intrinsic Value or Strategic Potential

Believes Structural Change is Necessary to Unlock Significant Shareholder Value

Reiterates that a Sale is the Only Acceptable Outcome for the Strategic Review Process

Applauds Decision to Launch Strategic Alternatives Process

Outlines Concerns with Enhabit’s Poor Share Price Performance