On January 21, 2020, Elliott Management Corporation announced that it urged Evergy, Inc to take steps to boost its stock price, including the addition of new board members and management and the exploration of a stock-for-stock merger. Elliott Management stated that a renewed focus on improving core utility operations and investing in the Company’s critical electric infrastructure can rectify its prolonged underperformance, discounted valuation and associated increased cost of capital. Elliott Management stated that it opens to evaluating opportunities that may create greater value and recognize that Elliott has different views regarding its strategic plan and at the same time, there are various considerations that it believes are important when evaluating the conclusions that Elliott has asserted in its letter.