Highlights That Board is More Concerned With Protecting Itself Than Positioning the Company for Future Success and Delivering Maximum Value for Shareholders

Believes Market's Positive Reaction Should Have Made It Clear to the Board What Shareholders Want

Underscores Entrenched Legacy Board Members Maintain Control Despite Board "Refreshment" Strategy

Confirms Meeting of Principals on April 9th in Continued Effort to Work Constructively Toward Resolution

Beretta Holding S.A. ("Beretta Holding" or "we"), a family-owned group leading the global premium light firearms, optics and ammunition industry and the largest shareholder of Sturm, Ruger & Company, Inc. ("Ruger" or the "Company"), with 9.95% ownership of the Company's outstanding common stock, today sent a letter to Ruger's Board of Directors (the "Board") in response to the Board's letter, received on March 28, rejecting Beretta Holding's exemption from the shareholder rights plan.

Beretta Holding remains disappointed and surprised by the incumbent Board's behavior and continued resistance to an increased investment that would further align Beretta Holding with all shareholders. The tender offer was at a significant premium at purchase price of $44.80 per share in cash, representing a premium of approximately 20% to the 60-day volume-weighted average price ending on March 24, 2026. The Board has now stood in the way of its shareholders and their ability to decide for themselves.

We remain steadfast in our view that Beretta Holding's investment and the potential for value creation through a strategic investment will be value creating for all shareholders. While we are willing to attend a meeting with a view to a constructive resolution, we remain skeptical of the Board's intentions and will continue to explore all of our legal alternatives.