Progress Vehicle Pieces Feedback on TRC Capital “Mini-Tender” Offer

RALEIGH, N.C., July 17, 2023–(Business enterprise WIRE)–Advance Auto Components, Inc. (NYSE: AAP), a top automotive aftermarket areas company in North America, that serves both of those expert installer and do-it-you shoppers, has been notified that TRC Money Expense Corporation (TRC) has manufactured an unsolicited “mini-tender” present to purchase up to 1,000,000 shares of Progress Car Parts inventory at $65.75 for every share, or 4.43 % down below the closing cost of the company’s stock on July 10, 2023, the last trading day before the date of the offer. As of currently, TRC supply price is 6.9 percent beneath the closing cost of the company’s inventory on July 14, 2023.

Progress Automobile Sections is in no way involved with TRC and expresses no view on TRC’s “mini-tender” supply.

Mini-tender provides search for to purchase significantly less than 5 p.c of a company’s fantastic shares, thus avoiding quite a few disclosure and procedural needs underneath U.S. federal securities legislation and the rules and rules of the U.S. Securities and Exchange Commission (SEC). As a result, mini-tender delivers do not offer traders with the very same degree of protections as presented by greater tender provides below the U.S. federal securities rules. The SEC’s ideas for traders regarding mini-tender gives could be uncovered at http://www.sec.gov/investor/pubs/minitend.htm.

Remember to be informed that shareholders are not expected to answer to TRC’s provide. If looking at the supply, shareholders need to acquire latest stock quotations for their shares of Progress Car Sections, seek advice from their economical advisors, and work out warning with regard to TRC’s supply. The present is established to expire at 12:01 a.m., Jap Common time, on August 9, 2023, having said that, TRC may well prolong the offer you or terminate it ahead of the expiration day.

Advance Auto Areas encourages broker-sellers and other sector individuals in the dissemination of the provide to assessment the SEC’s suggestions to broker-sellers in these situation, which can be observed on the SEC site at http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm. Advance Car Components requests that a copy of this news release be involved with all distribution of elements connected to TRC’s supply for shares of the company’s popular stock.

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About Advance Automobile Components

Progress Car Elements, Inc. is a top automotive aftermarket pieces service provider that serves equally specialist installer and do-it-on your own buyers. As of April 22, 2023 Progress operated 4,778 shops and 318 Worldpac branches principally in the United States, with extra places in Canada, Puerto Rico and the U.S. Virgin Islands. The corporation also served 1,315 independently owned Carquest branded outlets across these places in addition to Mexico and several Caribbean islands. More data about Progress, like employment alternatives, shopper services, and on the web procuring for areas, accessories and other choices can be located at www.AdvanceAutoParts.com.

Ahead-Searching Statements

Certain statements herein are “forward-searching statements,” which are normally identifiable by words and phrases these as “anticipate,” “think,” “could,” “estimate,” “hope,” “forecast,” “assistance,” “intend,” “very likely,” “might,” “plan,” “placement,” “achievable,” “prospective,” “possible,” “job,” “need to,” “technique,” “will,” or related language. All statements other than statements of historical actuality are ahead-looking statements, like, but not confined to, statements about the function, terms and result of the mini tender offer you by TRC. Ahead-on the lookout statements replicate our sights centered on historic success, current facts and assumptions linked to long run developments. Other than as could be needed by legislation, we undertake no obligation to update any ahead-seeking statements made herein. Forward-searching statements are issue to a selection of hazards and uncertainties that could bring about true effects to differ materially from those people projected or implied by the ahead-on the lookout statements. For a discussion of the dangers, uncertainties and assumptions that could have an effect on our long term gatherings, developments or benefits, remember to refer to “Merchandise 1A. Chance Elements” of our most the latest Once-a-year Report on Variety 10-K submitted with the Securities and Exchange Fee (“SEC”), as current by our subsequent filings with the SEC, for a description of these and other challenges and uncertainties that could cause actual results to differ materially from these projected or implied by the forward-hunting statements.

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Contacts

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