The Merger Agreement provides that Regal Beloit Corporation and Rexnord Corporation would mutually agree on two independent directors from the Rexnord board of directors to be added to the Company’s board of directors as of the Effective Time. Consistent with the foregoing, on August 10, 2021, contingent and effective upon the occurrence of the Effective Time, the Board expanded the size of the Board by two directors and appointed Theodore D. Crandall and Robin A. Walker-Lee as members of the Board to fill the resulting vacancies, each such director to serve until the next annual meeting of the Company’s shareholders and until his or her successor shall have been duly elected, or until his or her prior retirement, death, resignation or removal. Mr. Crandall, age 66, retired as a Senior Vice President of Rockwell Automation, a leading global provider of industrial automation power, control and information solutions, in 2019, after having served in such role since 2018. He previously served as the Senior Vice President, Control Products and Solutions, of Rockwell from 2017 until 2018, and as the Senior Vice President and Chief Financial Officer of Rockwell from 2007 to 2017. Prior thereto, Mr. Crandall served in various capacities at Rockwell and related companies, including previous service as Senior Vice President, Control Products and Solutions and as Senior Vice President of its Component & Packaged Applications Group. Mr. Crandall previously served on the board of governors of the National Electrical Manufacturers Association. Ms. Walker-Lee, age 67, retired as an Executive Vice President, General Counsel and Secretary of TRW Automotive Holdings Corp., a global automotive parts supplier. Ms. Walker-Lee was with TRW Automotive from 2010 until her retirement in 2015. Prior to that role, she served as Assistant General Counsel of Operations for General Motors Company (together with its predecessor General Motors Corporation, “GM”), an automobile manufacturer, and as General Counsel and Vice President of Public Policy for GM – Latin America, Africa and Middle East; she also served on special assignment to the General Counsel of GM during its bankruptcy restructuring. She has served as a director of Rexnord since 2015.
Regal Rexnord Corporation is engaged in the engineering and manufacturing of factory automation sub-systems, industrial powertrain solutions, automation and mechanical power transmission components, electric motors and electronic controls, air-moving products, and specialty electrical components and systems. Its segments consists of Industrial Powertrain Solutions (IPS), Power Efficiency Solutions (PES), and Automation & Motion Control (AMC). Its IPS segment designs, produces and services mounted and unmounted bearings, couplings, mechanical power transmission drives, gearboxes and gear motors, clutches, brakes, and industrial powertrain components. Its PES segment designs and produces fractional to approximately five horsepower alternating current and direct current motors, electronic variable speed controls, and more. Its AMC segment designs, produces and services conveyor products, conveying automation subsystems, aerospace components, rotary precision motion solution, and more.
REGAL REXNORD CORPORATION 
