On January 25, 2016, Red Mountain delivered a letter to Colin Angle, iRobot's Chairman and Chief Executive Officer, and iRobot Corporation's board of directors. In the letter, Red Mountain describes, among other things, the constructive dialogue between iRobot's and Red Mountain's respective advisors, and Red Mountain's willingness to work toward a mutually agreeable settlement that would be in the best interests of iRobot and all shareholders and would avoid an unnecessary election contest at the Company's upcoming annual meeting. Red Mountain concluded by expressing hope that iRobot will enter into serious settlement discussions regarding the addition of Red Mountain's proposed representatives to the Board.