From GlobeNewswire: 2025-04-18 21:15:00

Tejon Ranch is urging shareholders to vote “FOR” the company’s director nominees on the WHITE proxy card for the upcoming Annual Meeting on May 13, 2025. Bulldog Investors’ campaign poses a risk to years of shareholder investment and progress, lacking a clear plan for value creation. Tejon’s track record of success in land entitlement and development in California highlights the importance of voting for experienced nominees. Tejon’s strategic approach to development has generated recurring revenues and cash flows, with the proposed nominees lacking the necessary qualifications and experience to oversee the company’s complex operations. Tejon Ranch Co. has strategically reduced discretionary land use entitlement spending by 38% over the past five years. The company has successfully defended entitlements against litigation, spreading risks and utilizing partnerships. Tejon’s board is best positioned to oversee its complex business strategy and land use entitlement process. Bulldog’s short-term focus could compromise Tejon’s long-term value, erasing decades of shareholder investment. Shareholders are urged to vote for Tejon’s nominees and withhold votes from Bulldog’s nominees. Tejon has low debt and is focused on creating long-term value for shareholders. For more information, visit Tejon’s website. In recent news, Bulldog Investors’ Goldstein criticizes Emergent as the worst activist campaign. Special Opportunities Fund updates on FAST Acquisition Corp. settlement and Bulldog Investors files a lawsuit to prevent “Claw Back” lawsuits against public stockholders of a bankrupt SPAC. Additionally, First Trust is being sued for denying activist’s trustee nominees. Various funds have seen discounts over the last 52 weeks, with Total Return Securities Fund at 13.7%, High Income Securities Fund at 8.6%, and Mexico Equity & Income Fund at 26.3%. For more information, investors can contact Nicholas Ortiz at Tejon Ranch Co. or media inquiries can be directed to Joele Frank.



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