H Partners is one of the largest shareholders of Harley-Davidson (NYSE: HOG) with an approximately 9.1% ownership stake.

Over the last year, it has become increasingly apparent to us that (1) there have been major execution issues at Harley-Davidson, overseen by an absentee CEO; (2) the CEO and Presiding Director have not been fully transparent with the rest of the Board; and (3) certain long-tenured Board members have been unwilling to hold the CEO accountable for severe value destruction and the cultural depletion of this iconic American company.

In order to put Harley-Davidson back on the path to success, H Partners has filed a preliminary proxy statement with the SEC to solicit fellow shareholders to vote WITHHOLD on the election of three incumbents – CEO and Chairman Jochen Zeitz, Presiding Director Thomas Linebarger and 29-year director Sara Levinson – at the Company’s 2025 Annual Meeting of Shareholders.

Fellow Shareholders: H Partners strongly urges you NOT to return the WHITE Proxy Card or the Company’s voting instruction form and NOT to allow the Company or its proxy solicitor to take your vote via telephone. Instead, we urge you to wait to receive H Partners’ BLUE Proxy Card before voting. If you have already voted, only your latest dated proxy card will count.