Vestis (VSTS) Appoints Keith Meister to its Board

Vestis Corporation (NYSE: VSTS) today announced the appointment of Keith Meister to the Company’s Board of Directors, effective immediately. His appointment increases the size of the Board from eight to nine directors, seven of whom, including Mr. Meister, are independent.

Mr. Meister is the founder, Managing Partner and Chief Investment Officer of Corvex Management LP (together with certain of its affiliates, “Corvex”), an investment management firm which beneficially owns 12.9% of the Company’s outstanding common stock. Mr. Meister has extensive boardroom experience and currently serves as a director on the boards of GeneDx Holdings Corp. and MGM Resorts International, and previously served on the boards of Yum! Brands, Inc., The Williams Companies, The ADT Corporation and Ralcorp Holdings, among others.

“We are pleased to welcome Keith to the Vestis Board of Directors,” said Phillip Holloman, Chairman of the Board. “We believe his valuable financial and investment expertise, in addition to his notable track record of public company board experience, will prove a strong addition to our Board. This underscores our ongoing commitment to good corporate governance, evolving our Board composition and adding different and additive perspectives.”

“I look forward to continuing my constructive engagement with the management team and Board as we work together to improve results and enhance shareholder value,” said Mr. Meister. “I am confident Vestis has the right strategy in place to capitalize on its position as one of the key players in a large, growing and fragmented industry, servicing a well-diversified customer base. Corvex’s substantial investment underscores my belief in the opportunity ahead.”

Kim Scott, President and Chief Executive Officer of Vestis, added, “We look forward to benefitting from Keith’s investor perspective and mindset in the boardroom, and we welcome him to our Board. We have enjoyed a very constructive and supportive dialogue about Vestis’ pathway to long-term value creation, rooted in our strategic plan to deliver high-quality growth, efficient operations, and disciplined capital allocation.”

The Company is concurrently filing a Form 8-K regarding Mr. Meister’s appointment to the Board and a related letter agreement between the parties

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