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TETRA Technologies Announces Board Refreshment Efforts

Tetra Technologies, Inc. has announced its intent to continue the refreshment of its board of directors at the 2025 annual meeting of shareholders. The company has disclosed the receipt of a nomination notice from shareholder Brad Radoff, who has submitted a notice to nominate four candidates to stand for election at this year’s annual meeting. Tetra is committed to continued board refreshment that supports value creation and plans to nominate Julie Sloat, the former chair, president, and CEO of American Electric Power Company, Inc., to stand for election to the company’s eight-member board.

Over the past five years, Tetra's board has proactively refreshed a majority of its membership, with five retirements and four additions. In addition, the board has focused on ensuring clear disclosures regarding the company’s shareholder-friendly governance policies, succession planning activities, strategy review sessions, and other matters of relevance to the investment community.

Since the board appointed Brady Murphy as CEO in 2019, Tetra has significantly outperformed relevant industry indices and produced a total shareholder return of approximately 60%. The current five-year total shareholder return for Tetra is 1117%, versus the S&P Small Cap 600 Capped Energy Index’s returns of 279% and the Russell 2000 Index’s returns of 100%.

Tetra's long-term strategy involves continuing to capitalize on the growing synergies between its completion fluids & products segment and water & flowback services segment. The company has also exercised disciplined capital allocation and use of cash flow to expand high-growth potential strategic initiatives over time, such as battery storage and produced water opportunities, while achieving its lowest leverage ratio to date. Tetra has maintained operational efficiency, with a record of return on net capital employed ("RONCE") averaging 17.8% over the last two years, up from 13.4% in 2022.

The company’s approach to director refreshment has ensured the board retains institutional knowledge and important commercial relationships as it integrates new independent members. Tetra plans to file a proxy statement in the near term.

Shareholders are not required to take any action at this time, and the company will continue to assess the candidates put forth by Mr. Radoff. Tetra has outlined its commitment to maintaining a diverse, engaged board and continuing its ongoing director refreshment approach to support its long-term strategy.

Tetra Technologies, Inc. is an energy services and solutions company focused on developing environmentally conscious services and solutions. With operations on six continents, the company's portfolio consists of energy services, industrial chemicals, and lithium ventures. Today the company's shares have moved 2.8% to a price of $3.66. Check out the company's full 8-K submission here.

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