MNC Capital Partners, L.P. has sent a letter to Vista Outdoor Inc. (NYSE:VSTO) urging engagement on its fully financed $42 per share all-cash offer. MNC's letter included the following: ". It is unfortunate that Vista has not engaged with us for almost two months, has failed to make disclosures that shareholders need to make an informed decision, and has made untrue statements about our offer.

It is very concerning that Vista never has disclosed to its shareholders the value at closing of the consideration they would receive in the CSG transaction. That value per share would equal $21 in cash plus the fully distributed trading value at closing of a share of Revelyst. What the Vista bankers told the Vista Board needs to be disclosed to shareholders.

Your statements regarding how our financing sources have "shifted" are aimed at making shareholders think that is unusual or a negative.our funding sources changed to make our financing more favorable. MNC's ability to obtain more favorable financing was a strong positive for its fully financed offer and helped us increase our purchase price to $42 per share. MNC's funding sources include a global investment bank with a balance sheet greater than $50B, a private equity fund with over $15B under management and a number of well-capitalized private and publicly-traded equity investors.

We continue to be confident that we can close the transaction in about 60 days after signing a merger agreement.Yet Vista publicly asserted that a closing "would take several months". We therefore urge the Board to perform and disclose analyses necessary for shareholders to make an informed decision and to reconsider its positions and engage with us to sign a merger agreement that we are confident your shareholders will approve. Both major independent shareholder advisory firms have spoken as to what they believe is best for shareholders.".