Triumph Group, Inc. announced the following changes to its Board of Directors as part of the Board's ongoing refreshment program:- Patrick E. Allen has been nominated as an independent director for election at the Company's 2023 Annual Meeting of Stockholders (the "Annual Meeting"). Beginning May 30, 2023, Mr. Allen will serve as a non-voting Board Observer until he is elected to the TRIUMPH Board. In connection with a cooperation agreement (the "Agreement") with Vision One Management Partners, LP ("Vision One"), Courtney R. Mather, CEO and CIO of Vision One, has also been nominated as an independent director for election at the Annual Meeting.

Beginning May 30, 2023, Mr. Mather will serve as a non-voting Board Observer until he is elected to the TRIUMPH Board. General Larry O. Spencer will retire from the TRIUMPH Board, effective as of the Annual Meeting, following 5 years of service, including significant contributions made as Chair of the Board's Nominating, Governance and Sustainability committee. William "Bill" L. Mansfield will retire from the TRIUMPH Board, effective as of the Annual Meeting, following 11 years of service.

Mr. Mansfield currently serves as Lead Independent Director of the Board and previously served as Chair of Audit, Nominating Governance, and Sustainability, and Compensation committees. Neal Keating, an independent director since April 2022, will serve as TRIUMPH's Lead Independent Director following the Annual Meeting. Beginning May 30, 2023, Julio C. Acero, an Investment Analyst of Vision One, will serve as a non-voting Board Observer until the Company's 2024 Annual Meeting of Stockholders.

Following the Annual Meeting, the TRIUMPH Board will continue to comprise nine directors, eight of whom will be independent and four of whom will have been appointed in the last 2 years. Mr. Allen has over 30 years of financial experience, with extensive expertise in capital markets, accounting and SEC financial reporting, and mergers and acquisitions. He previously served as the Chief Financial Officer for Collins Aerospace, a division of Raytheon Technologies, where he oversaw the $26 billion division and led a worldwide finance team of over 3,000 professionals.

Prior to this, he held numerous positions at Rockwell Collins, including Chief Financial Officer. Mr. Allen currently serves as a director of Alliant Energy Corporation and Austal USA. He received his B.S. in Finance from The Pennsylvania State University.

Mr. Mather is the Chief Executive Officer and Chief Investment Officer of Vision One. Mr. Mather formerly served as a Portfolio Manager and Managing Director of Icahn Capital. Prior to joining Icahn Capital, he was at Goldman Sachs & Co., most recently as Managing Director, where he focused on identifying and analyzing investment opportunities for both Goldman Sachs and clients.

Mr. Mather currently serves as an independent director on the boards of Caesars Entertainment, Inc. and Newell Brands Inc. Mr. Mather previously served on the boards of Cheniere Energy, Inc., Conduent Incorporated, Freeport-McMoRan Inc., and Herc Holdings Inc. He holds the Chartered Alternative Investment Analyst, Chartered Financial Analyst and Certified Financial Risk Manager professional designations. He received a B.A. from Rutgers College. Mr. Acero is an Investment Analyst at Vision One.

Mr. Acero formerly served as a Research Associate for Artisan Partners' Global Equity Fund covering the Industrials sector. Mr. Acero previously served as an Investment Analyst at Steel Partners Holdings and began his career as an Investment Banking Analyst at Houlihan Lokey. Mr. Acero received an M.B.A. from the Kellogg School of Management at Northwestern University, a Master of Accounting from the University of Southern California, and a B.S. from Cal Poly Pomona.