Company: SSUP
Filing Date: 2025-08-15
Form Type: DEFM14A
Source: 0001140361-25-031532
Chunk: 43

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-08-15
Form: DEFM14A
Chunk 43
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 by certain customers in North America, without any prior notice and within days of each other, of their intent to re-source all outstanding purchase orders to other suppliers with a minimal wind down period and to not issue any additional purchase orders to the Company thereafter (the “Customer Losses”). These customers represented approximately 40% of the Company’s consolidated net sales for the year ended December 31, 2024, and approximately 36% of the Company’s consolidated net sales for the year ended December 31, 2023.

On April 3, 2025, the Board held a meeting attended by the Company’s management and representatives of Lazard, at which, among other things, the Board was provided with an update regarding the Customer Losses that had occurred at that point, and discussed with management of the Company the impact of the Customer Losses on the Company’s liquidity. In addition, the representatives of Lazard discussed with the Board the interest in acquiring the Company that was previously communicated by several of the potential buyers who

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submitted Proposals and the impact of the Customer Losses that had occurred to date on such interest, including the feedback received from a potential buyer after learning of such development. Following discussion and consideration, the Board determined to pause the potential sale process until the impact of such Customer Losses could be more fully analyzed and the Company had determined its next steps in relation thereto.

On April 5, 2025, the Board held a meeting attended by the Company’s management, representatives of Lazard and representatives of Weil, Gotshal & Manges LLP (“Weil”), the Company’s legal counsel, at which, among other things, the Board was provided with an update regarding the Customer Losses. The Board and management of the Company discussed near term strategic options for the Company in connection with its liquidity challenges arising from the Customer Losses, and the Company’s approach with respect to other customers. Following the Board meeting, Mr. Abulaban had a discussion with a representative of Oaktree Capital Management (“Oaktree”), a significant lender in the Company’s senior secured term loan credit facility (the “Term Loan” and such lenders, the “Term Loan Lenders”) to inform him of the Customer Losses and that the Company was evaluating the impact of such losses, including on the Company’s liquidity position.

Also on April 5, 2025, the Company engaged Alvarez & Marsal North America, LLC (“A&M”) to