On April 6, 2023, Pitney Bowes announced that it has sent a letter to shareholders, stating that at the annual meeting Hestia Capital Management, LLC is seeking to replace 4 of Company’ directors Robert M Dutkowsky, Marc B Lautenbach, Steven D. Brill, Anne M Busquet, Mary J Steele Guilfoile, Linda S. Sanford, Sheila A Stamps and Darrell Thomas with its nominees to the board. In addition, the Company stated that it has already implemented significant changes to the board, recommended nominees are the right individuals to drive Company forward, ensure the long-term success of the businesses, and enhance value for shareholders. Further, the Company recommended the shareholders to vote for its board nominees and Hestia Capital nominee, Katie May at the annual meeting of shareholders scheduled to be held on May 9, 2023.