Company: SSUP
Filing Date: 2025-08-15
Form Type: DEFM14A
Source: 0001140361-25-031532
Chunk: 47

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-08-15
Form: DEFM14A
Chunk 47
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 and credit rating agencies to the disclosures that would be made in the Company’s upcoming Quarterly Report on Form 10-Q. A discussion ensued with respect to how such reaction underscored the necessity of both an immediate liquidity infusion and a transaction led by the Company’s lenders that would materially deleverage the Company’s capital structure. The Board then discussed with representatives of each of Lazard, Weil and A&M, among other things, the general terms and considerations of both an out-of-court and in-court recapitalization transaction. The Board also discussed the fact that pursuing an out-of-court transaction would maximize value for holders of the Company’s equity and debt.

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#### TABLE OF CONTENTS
On May 7, 2025, Paul Weiss provided Weil with a draft commitment letter for the Bridge Facility, which set forth, among other things, the commitment of the term loan lenders to provide the Bridge Facility to the Company, subject to the satisfaction of certain conditions, including achievement of the milestones described above.

Between May 7, 2025 and May 11, 2025, the Company and the Term Loan Lenders, through their respective legal counsel, negotiated and finalized the Bridge Facility commitment letter and continued to negotiate the terms of the Term Sheet.

On May 10, 2025, the Board held a meeting attended by the Company’s management and representatives of each of Lazard and Weil, at which, among other things, the representatives of Lazard provided the Board with an update on the status of the Company’s liquidity needs, which had become further strained due, in part, to a temporary suspension of certain of the Company’s factoring facilities and an update on the ongoing negotiations related to the Bridge Facility commitment letter and recapitalization transaction. Representatives of Lazard and management then discussed with the Board certain options to manage liquidity, as well as the terms of the Bridge Facility commitment letter being negotiated with the Term Loan Lenders, including the milestones that the Company would be required to achieve prior to the funding of the Bridge Facility, including (i) the appointment of a new independent director to the Board, (ii) the formation of a transaction committee of the Board to oversee any recapitalization transaction involving the Company, on which the new independent director must serve, (iii) entry into a support agreement with the Term Loan Lenders providing for a comprehensive recapitalization of the Company, (iv) the provision of due diligence information reasonably satisfactory to the Term Loan Lenders and (v)