<SEC-DOCUMENT>0001193125-22-151985.txt : 20220516
<SEC-HEADER>0001193125-22-151985.hdr.sgml : 20220516
<ACCEPTANCE-DATETIME>20220516170959
ACCESSION NUMBER:		0001193125-22-151985
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20220516
DATE AS OF CHANGE:		20220516

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN VANGUARD CORP
		CENTRAL INDEX KEY:			0000005981
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				952588080
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13795
		FILM NUMBER:		22930762

	BUSINESS ADDRESS:	
		STREET 1:		4695 MACARTHUR COURT
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
		BUSINESS PHONE:		949-260-1200

	MAIL ADDRESS:	
		STREET 1:		4695 MACARTHUR COURT
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AEROCON INC
		DATE OF NAME CHANGE:	19720620
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d502426ddefa14a.htm
<DESCRIPTION>DEFA14A
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other than the Registrant&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material Pursuant to Rule <FONT STYLE="white-space:nowrap">14a-11(c)</FONT> or Rule <FONT
STYLE="white-space:nowrap">14a-12</FONT> </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>AMERICAN VANGUARD CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check all boxes that apply): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May&nbsp;16, 2022 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
American Vanguard Stockholders, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our Annual Meeting of Stockholders, scheduled for June&nbsp;1, 2022, is fast approaching. We are writing to encourage you
to vote &#147;<B>FOR ALL</B>&#148; the Company&#146;s nine highly qualified director nominees on the <B><U>WHITE</U></B> proxy card today. Your vote is critically important. Your Board of Directors is confident that reelecting the Company&#146;s
director nominees is the best way to continue American Vanguard&#146;s progress. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We recently publicized an investor presentation that details how your
Board managed through a seven-year downcycle and successfully positioned American Vanguard to generate outsized returns. Fueled by the Company&#146;s revolutionary Green Solutions portfolio and game-changing SIMPAS<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> prescriptive agriculture application platform, American Vanguard is positioned for significant growth amidst today&#146;s favorable tailwinds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Highlights of the presentation, which is available in our filing with the Securities and Exchange Commission, include: </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMERICAN VANGUARD IS POSITIONED FOR OUTSIZED RETURNS THROUGH 2025 &#150; </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DON&#146;T LET CRUISER DISRUPT THE COMPANY&#146;S ROBUST GROWTH TRAJECTORY </B></P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Under the leadership of your highly experienced Board and management team, American Vanguard has performed well
compared to the Russell 2000 and outperformed all other <FONT STYLE="white-space:nowrap">small-cap</FONT> agricultural providers. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">We outperformed the Russell 2000 over the last <FONT STYLE="white-space:nowrap">one-</FONT> and three-year
periods and we had comparable performance in the last seven years despite unique sector-related headwinds. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">As diligent stewards of the Company&#146;s capital, the Board and management team have successfully positioned
American Vanguard for <B>near- and long-term outperformance in the current upcycle</B>. This leadership team has: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Delivered <B>meaningful <FONT STYLE="white-space:nowrap">top-line</FONT> growth and consistent dividend
payments</B> over the last decade despite a prolonged downcycle. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Engaged <B>in significant portfolio diversification and geographic expansion</B> and development and
implementation of innovative, <B>game-changing technologies, such as SIMPAS</B><B><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></B><B> and Green Solutions. </B> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Prudently <B>managed our balance sheet and capital allocation</B> with ample headroom to pursue additional
accretive M&amp;A. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Overseen acquisitions that have led to $222&nbsp;million in sales, $33&nbsp;million in EBITDA and an EBITDA
margin of 15%. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">As a result of your Board&#146;s strategies, first quarter earnings for 2022 exceeded targets, and earnings
momentum is expected to continue, with <FONT STYLE="white-space:nowrap">mid-double-digit</FONT> growth anticipated in 2022. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">In fact, American Vanguard&#146;s sales growth has beaten consensus for the last five quarters.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="5%">&nbsp;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Your Board has the right experience and expertise to lead AVD and capitalize on large opportunities that exist in
the strategic plan developed by the Board and management team. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Our team has an excellent track record, has positioned American Vanguard for the current upcycle and possesses
the skills needed to lead the Company forward. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">We have recently refreshed the Board by adding two new directors in the past three years and are actively
planning additional director refreshment and to continue to identify and develop future leaders. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">We interviewed Cruiser&#146;s nominees extensively and your Board concluded that they do not have relevant
industry experience, expertise and in some instances, desire to serve. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ALFRED INGULLI, JOHN KILLMER AND ESMAIL ZIRAKPARVAR ARE LARGE PART OF AVD&#146;S BRAIN
TRUST </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND INSTRUMENTAL TO THE BOARD AND THE COMPANY&#146;S STRATEGIC DIRECTION </B></P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">As chair of the finance committee<B>, Alfred Ingulli</B> has enabled us to be the most proficient deal company in
our space and has led the Company and the Board in completing <B>16 transactions in the last seven years, all of them accretive</B>. He has over <B>33 years of experience in the agricultural chemical business</B> with additional expertise in
chemical engineering, business finance and operational management. He spent 41 years at the Crompton Corporation (later Chemtura Corporation, previously named U.S. Rubber Co., Uniroyal Inc., Uniroyal Chemical, and CK Witco), a specialty chemical
company, where for his last 15 years he served as Executive Vice President responsible for the company&#146;s global agricultural chemical business, including managing the company&#146;s specialty chemical business in Europe, Africa and Latin
America. He also served as a member of the executive committee and helped to manage the company&#146;s $3&nbsp;billion P&amp;L, $2&nbsp;billion of which was under his direct purview. Mr.&nbsp;Ingulli&#146;s board experience includes serving on the
board of directors of PBI/Gordon, Inc., a marketer of specialty chemicals in turf and ornamental, lawn and garden and animal health markets and Gustafson LLC, a manufacturer of seed treatment products and application equipment. He also served as
chairman of CropLife America, a nationwide <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">not-for-profit</FONT></FONT> trade organization representing member companies that produce, sell, and distribute most of the active
compounds used in crop protection products registered for use in the United States. He has a master&#146;s degree in Business and completed the Executive Management Program at Harvard Business School. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">In his role as Lead Independent Director, <B>John Killmer</B> guides American Vanguard&#146;s business strategy,
which has positioned us for <B>significant outperformance in the current upcycle</B>. He has <B>over 40 years of experience in marketing and product management.</B> Previously Dr.&nbsp;Killmer was responsible for Global Marketing, Product and Supply
Chain Management for Arysta LifeSciences Corporation, a large privately held crop protection and life science company where he managed their nearly $1&nbsp;billion P&amp;L. Prior to that, Dr.&nbsp;Killmer served in various roles with Monsanto
Company, including some 15 years in Asia and three years as President of Monsanto China. Dr.&nbsp;Killmer also served as CEO and member of the board of directors of RNAgri, Inc., a privately held corporation involved in the development of RNAi
technology. Dr.&nbsp;Killmer possesses a combination of considerable technical expertise and business acumen. A trained scientist, he began his professional career focusing on technology and ascended the corporate ladder with increasing profit
responsibility. He has a PhD in Agronomy with a focus on plant science and crop physiology from the University of Illiniois, and has completed the Executive Management Program at Harvard Business School. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">As chair of the Corporate Governance and Nominating Committee<B>, Esmail Zirakparvar</B> has taken the <B>lead
role in directing efforts to diversify and refresh the Board</B>. He also oversees our governance and ESG practices to ensure they align with best practices&nbsp;and gives the Board a global sense of perspective and strategic direction.
Dr.&nbsp;Zirakparvar has over <B>35 years of experience in product development, project management and agricultural chemical businesses</B>. He previously served in executive positions at Bayer CropScience AG where he managed a $1&nbsp;billion
P&amp;L, and held roles including Chief Operating Officer and member of the Bayer CropScience AG&#146;s Board of Management in Germany; Head of Region of Americas, President and CEO of Bayer CropScience LP USA; and Member of the Bayer CropScience AG
Executive Committee. Prior to that, Dr.&nbsp;Zirakparvar served in various executive positions at Rhone-Poulenc Agrochimie and Aventis CropScience, ultimately as Head of Portfolio Management and member of the Global Executive Committee in Lyon,
France for these companies. Dr.&nbsp;Zirakparvar holds a MS and Ph.D. degrees on Plant Pathology/Nematology from Iowa State University. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CRUISER IS MISREPRESENTING THE FACTS, DOES NOT HAVE A PLAN AND ITS NOMINEES WOULD NOT BE
ADDITIVE TO OUR BOARD: DON&#146;T LET THEM DISRUPT AMERICAN VANGUARD&#146;S MOMENTUM </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cruiser&#146;s director nominees do not understand our business
and <B>have no plan, lack any expertise that would be additive to your Board and, in some cases, lack the desire to serve as directors</B>. Cruiser&#146;s recent statements have contained a number of mischaracterizations of our performance,
governance practices and the value of our investments. We would like to set the record straight. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Cruiser&#146;s benchmarking of American Vanguard&#146;s total shareholder return (&#147;TSR&#148;) against
Specialty Chemicals <B>demonstrates confusion and a lack of understanding</B> of our fundamental attributes and business drivers as we are more comparable to <FONT STYLE="white-space:nowrap">small-cap</FONT> agricultural inputs companies.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Cruiser portrays a story of TSR underperformance when <B>American Vanguard outperformed several of its <FONT
STYLE="white-space:nowrap">Small-Cap</FONT> Agricultural Inputs peers </B>over the same period. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Cruiser&#146;s suggestion of implied &#147;core EBITDA contraction&#148; is based on a <B>shallow and faulty
comparison. </B>Comparison of EBITDA across a decade neglects inherent earnings volatility and agricultural market headwinds since 2011. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Even Cruiser acknowledges that AVD is well positioned for the upcycle that materialized in 2022 </B>&#150;
which is only possible through the strategic initiatives they questioned. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Cruiser contends that AVD can be &#147;a $55 to $60 stock&#148; in the foreseeable future. Without intending to
make promises or commit to guidance on this topic, we call shareholders&#146; attention to the fact that <B><U>the strategy and analysis they use to derive that projection</U></B><U> </U><B><U>is the very same strategy that was developed and
implemented by the existing Board and management team</U></B><B>! The very board Cruiser claims is underperforming and that requires &#147;change&#148;!</B> It&#146;s not just that they have no strategy &#150; they&#146;re affirmatively promoting
the Board&#146;s while contending that your Board cannot succeed without Cruiser&#146;s help. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Over the years, we have been able to attract an extraordinarily qualified Board while advancing racial and gender
diversity. Cruiser fails to recognize the core capabilities and expertise of our Board, and Cruiser&#146;s nominees lack the required competencies and seem less than enthusiastic to join our Board. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">American Vanguard&#146;s average Board compensation and average executive stock-based compensation for <FONT
STYLE="white-space:nowrap">FY-21</FONT> are 7% and 47% lower than its proxy peers, respectively. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Cruiser&#146;s proxy background <B>misrepresents basic facts. </B>Our engagement with Cruiser has been
<B>constructive, robust and fair since the beginning, </B>included<B> meetings </B>with our Chairman and CEO and <B>a thorough, <FONT STYLE="white-space:nowrap">in-person</FONT> interview process </B>of their nominees. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Even though we allotted them the time and opportunity, we learned that, while filled with critiques, the
presentation lacked substance and was devoid of constructive suggestions as to how Cruiser would improve our performance. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Cruiser&#146;s nominees have given misleading and inconsistent depictions of their ownership and investment stake
in American Vanguard, which led the Board to question their commitment to our culture of integrity, transparency and commitment. </P></TD></TR></TABLE>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DON&#146;T BE FOOLED: CRUISER&#146;S NOMINEES LACK THE EXPERIENCE THEY CLAIM IS NEEDED </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>A majority of Cruiser&#146;s nominees, in fact, have either no recent operational experience or no such experience at all. Likewise, two of the three
candidates have never served as director of a <FONT STYLE="white-space:nowrap">for-profit</FONT> enterprise. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Throughout their campaign, which appears
to have begun before Cruiser owned more than 10,000 shares of AVD stock, Cruiser has called for &#147;change&#148; and &#147;improvements&#148; at American Vanguard. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Mr.</I></B><B><I></I></B><B><I>&nbsp;Rosenbloom</I></B> contends that Cruiser&#146;s nominees will improve American Vanguard&#146;s operational and
financial performance, and he touts his own financial expertise as critical to the enhancements he alleges your company needs. This contention is dramatically at odds with Mr.&nbsp;Rosenbloom&#146;s and Cruiser&#146;s actual history. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Mr.&nbsp;Rosenbloom has never held an executive or management-level position in any operating company, nor has he
ever served on the board of directors of a <FONT STYLE="white-space:nowrap">for-profit</FONT> enterprise. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Instead, he manages a hedge fund that we believe to be comprised largely of his own family&#146;s wealth &#151;
and based on TipRanks.com, <B><U>Cruiser exemplifies abysmal financial performance</U></B>, ranking in the bottom quintile of the 390 hedge funds reviewed by TipRanks.<SUP STYLE="font-size:85%; vertical-align:top">1</SUP><SUP
STYLE="font-size:85%; vertical-align:top">&#042; </SUP></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">While Mr.&nbsp;Rosenbloom and Cruiser are highly critical of American Vanguard&#146;s performance, a bit of
introspection on their part would lead to the inescapable conclusion that Cruiser&#146;s performance is far, far worse. In fact, Cruiser, with Mr.&nbsp;Rosenbloom at the helm, has recorded a lifetime <U>portfolio loss</U> of 28.7%, a three-year
average <U>portfolio loss</U> of 6.58%, and a 5.91% <U>portfolio loss</U> over the last 12 months. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Cruiser &#151; under Mr.</U><U></U><U>&nbsp;Rosenbloom&#146;s leadership &#151; has grossly underperformed
both the Average Hedge Fund Portfolio Index (which gained 23.32% over the five years ended March 31, 2022) and the S&amp;P 500 (which gained 60.41% over that same period)</U>. By comparison over that same period, Cruiser lost 28.6% of its invested
capital. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Your Board is skeptical that sophisticated, unrelated investors would entrust their fortunes to
Mr.&nbsp;Rosenbloom&#146;s performance, and firmly believes that he lacks the financial management skills to assess or improve American Vanguard&#146;s performance. </P></TD></TR></TABLE>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">https://www.tipranks.com/experts/hedge-funds/keith-m.-rosenbloom</FONT>
</P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">In any event, after an extensive interview and more than nine months of previous engagement with Cruiser, your
<B>Board found Mr.</B><B></B><B>&nbsp;Rosenbloom completely lacking in managerial, operational, financial or leadership traits. </B>Mr.&nbsp;Rosenbloom met repeatedly with management over the nine months preceding the launch of Cruiser&#146;s proxy
contest. Having had extensive opportunities to learn about your Company, he promised to provide a detailed and constructive presentation to the Board during his <FONT STYLE="white-space:nowrap">two-day</FONT> audience in <FONT
STYLE="white-space:nowrap">mid-April.</FONT> In reality, his presentation was replete with generalized and often unsupported conclusions, completely lacking in constructive recommendations. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">While your Board values input from all shareholders and recognizes that activists can often bring value to an
organization, Mr.&nbsp;Rosenbloom&#146;s pattern of conduct suggests a level of opportunism that, at best, will work to the detriment of stockholders&#146; interest in long-term value creation. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">For example, when Mr.&nbsp;Rosenbloom initially demanded a meeting with management, Cruiser beneficially owned
fewer than 10,000 shares, representing 0.03% (3/100 of 1%) of our common stock. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">When Cruiser nominated its candidates, it owned 0.19% of our common stock. In other words,
<B>Mr.</B><B></B><B>&nbsp;Rosenbloom appears willing to gamble on your company&#146;s future without having demonstrated any significant long-term commitment to AVD.</B> Even his later and modestly more significant investment only came at a time
when he expected to benefit from the public announcement of a proxy contest &#151; and, fortunately for Cruiser, it happened to coincide with our best quarterly performance in recent years. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Mr.</I></B><B><I></I></B><B><I>&nbsp;Gottschalk</I></B> has a more accomplished resume, but your Board was troubled by three serious defects in his
candidacy. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">First, Mr.&nbsp;Gottschalk has not been employed since leaving Dow Chemical Company in 2016, apparently in
connection with a reorganization that rendered his position superfluous. In one article published by McKinsey&nbsp;&amp; Co, Mr.&nbsp;Gottschalk&#146;s former employer noted that the reorganization focused substantially on improving efficiencies.<SUP
STYLE="font-size:85%; vertical-align:top">2</SUP><SUP STYLE="font-size:85%; vertical-align:top">&#042; </SUP></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Your American Vanguard Board believes that this experience suggests <B>Mr.</B><B></B><B>&nbsp;Gottschalk was
neither involved in nor essential to the cost control measures that Cruiser touts as being instrumental in his service as a director of American Vanguard</B>. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Second, Mr.&nbsp;Gottschalk&#146;s only known board experience is on that of a Canadian public company, Superior
Plus Corporation, where he has served since late 2017. <B>During Mr.</B><B></B><B>&nbsp;Gottschalk&#146;s tenure, Superior&#146;s performance has been lackluster at best, with total shareholder return less impressive than AVD&#146;s</B>.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Similarly, in contrast with Cruiser&#146;s misleading characterization of American Vanguard&#146;s director
compensation policies, <B>Mr.</B><B></B><B>&nbsp;Gottschalk&#146;s average annual compensation</B> of approximately US$172,000 is <B><I>considerably</I></B> <B><I>higher</I></B> than that of any American Vanguard outside directors whose compensation
Cruiser criticizes. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Third, on more than one occasion during Mr.&nbsp;Gottschalk&#146;s
<FONT STYLE="white-space:nowrap">two-hour</FONT> interview with your Board, he indicated an ambivalence toward serving as a director, indicating that he did not necessarily view himself as an ideal candidate. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Cruiser and Mr.&nbsp;Gottschalk have provided conflicting information about Mr.&nbsp;Gottschalk&#146;s personal
investment in AVD common stock, with Mr.&nbsp;Gottschalk initially indicating that he owns more than 50,000 shares, and with Cruiser repeating this contention in a recent letter. These assertions directly contradict Cruiser&#146;s proxy statement
disclosure, which indicates that he bought 1,012 shares on February&nbsp;18, 2022, and, as of May&nbsp;9, 2022, he had no other investment. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-making-</FONT></FONT></FONT></FONT></FONT><BR><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">of-a-megadeal-howard-ungerleider-on-the-merger-of-dow-and-dupont</FONT></FONT></FONT></FONT></FONT></FONT></FONT></FONT></FONT> </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Permission to cite the identified sources has been neither sought nor obtained. </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">He has previously been nominated twice in unsuccessful proxy fights mounted by Cruiser, and indicated a lack of
familiarity with American Vanguard&#146;s business that might otherwise allow him to identify specific improvements he would make, how he would make those improvements, or what mistakes he considers your Board to have made in the past.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Mr.</I></B><B><I></I></B><B><I>&nbsp;Bassett</I></B> impressed the Board with a cooperative and inquisitive approach and
unquestionably has quality experience in the chemical industry. However, he has never served as a director of a public company, and your Board is concerned about some apparent discrepancies in his supposed ownership of AVD common stock. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Specifically, Mr.&nbsp;Bassett contended during his interview that he owns 27,000 shares of AVD common stock.
Cruiser repeated this assertion in its public letter dated May&nbsp;10, 2022. However, this assertion is inconsistent with Cruiser&#146;s definitive proxy statement dated May&nbsp;9, 2022, the disclosure requirements for which include the
nominees&#146; beneficial ownership of common stock, as well as the dates of acquisition and the source of funds used to acquire the shares. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">During his interview with American Vanguard&#146;s Board, Mr.&nbsp;Basset indicated he had &#147;never heard
of&#148; American Vanguard &#147;until a couple of months ago&#148; and <B>he only purchased shares and accepted to be a nominee at the request of Mr.</B><B></B><B>&nbsp;Rosenbloom</B>. If elected, he will bring zero knowledge, <FONT
STYLE="white-space:nowrap">know-how</FONT> and experience in the fields of agriculture and crop protection business to your Board. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Further, even more specifically than Mr.&nbsp;Gottschalk, <B>Mr.</B><B></B><B>&nbsp;Bassett expressed a lack of
enthusiasm</B> for serving on American Vanguard&#146;s Board, <B>indicating that any of the value he could add for our stockholders could be conveyed with equal or better effect if he were retained as a consultant</B>. </P></TD></TR></TABLE>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>YOUR VOTE IS VERY IMPORTANT! </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROTECT THE VALUE OF YOUR INVESTMENT! VOTE THE <U>WHITE</U> PROXY CARD TODAY FOR ALL NINE OF AMERICAN VANGUARD&#146;S HIGHLY QUALIFIED
DIRECTORS. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We strongly urge you to use the enclosed <B><U>WHITE</U></B> proxy card to vote today &#147;<B><U>FOR ALL</U></B>&#148; nine of American
Vanguard&#146;s highly qualified nominees: Marisol Angelini, Scott D. Baskin, Debra F. Edwards, Morton D. Erlich, Emer Gunter, Alfred F. Ingulli, John L. Killmer, Eric G. Wintemute and M. Esmail Zirakparvar. Simply follow the easy instructions to
vote by telephone, by Internet, or by signing, dating and returning the <B><U>WHITE</U></B> proxy card in the postage-paid envelope provided. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please
<B><U>DO NOT</U></B> vote using any proxy card you may receive from Cruiser &#151; even as a &#147;protest vote.&#148; Any vote on the proxy card from Cruiser will revoke your prior vote on a <B><U>WHITE</U></B> proxy card, and only your
latest-dated proxy will count towards the election of your highly qualified and experienced Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Once you complete and return this
official WHITE proxy card, no further action is required, and you should ignore additional notifications &#151; and <B>DISCARD any other proxy cards you receive.</B> </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your vote &#147;<B><U>FOR ALL</U></B>&#148; of our director nominees will help ensure that you, as an American Vanguard investor, have a Board focused on
sustaining our positive momentum and creating lasting value for ALL stockholders. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We appreciate your continued support. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eric G. Wintemute, Chairman and Chief Executive
Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">John L. Killmer, Lead Independent Director </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>If you have any questions or need assistance in </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>voting your shares please call: </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g502426g0517003204042.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1407 Broadway, 27<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(212) <FONT
STYLE="white-space:nowrap">929-5500</FONT> (Call Collect) </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">or </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Call Toll-Free (800) <FONT STYLE="white-space:nowrap">322-2885</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Email: proxy@mackenziepartners.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Important Additional Information and Where to Find It </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">American Vanguard has filed a definitive proxy statement on Schedule 14A, and an accompanying <B><U>WHITE</U></B> proxy card, with the Securities and Exchange
Commission (&#147;SEC&#148;) in connection with the solicitation of proxies for its 2022 Annual Meeting of Stockholders. <B>STOCKHOLDERS ARE STRONGLY ADVISED TO READ THE COMPANY&#146;S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR
SUPPLEMENTS THERETO) AND ANY AND ALL OTHER DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION</B>. Stockholders may obtain a free copy of the proxy statement and accompanying <B><U>WHITE</U></B>
proxy card, any amendments or supplements to the proxy statement, and other documents that the Company files with the SEC, from the Company&#146;s website, https://www.american-vanguard.com, or from the SEC&#146;s website at http://www.sec.gov.
These will be available as soon as reasonably practicable after such materials are electronically filed with or furnished to the SEC. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Certain
Information Regarding Participants to the Solicitation </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company and its directors, executive officers and certain employees and other persons
may be deemed to be participants in the solicitation of proxies from the Company&#146;s stockholders in connection with the business to be conducted at the Annual Meeting. Stockholders may obtain information regarding the names, affiliations and
interests of the Company&#146;s directors and executive officers included in or incorporated by reference into the Company&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended
</P>
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December&nbsp;31, 2021, which was filed with the SEC on March&nbsp;14, 2022, or from the Company&#146;s definitive proxy statement filed with the SEC on April&nbsp;29, 2022. To the extent the
holdings of the Company&#146;s securities by the Company&#146;s directors and executive officers have changed since the numbers set forth in the Company&#146;s definitive proxy statement, such changes have been or will be reflected on Statements of
Change in Ownership on Form 4 filed with the SEC. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Forward-Looking Statements </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain information set forth in this release and the accompanying letter may constitute &#147;forward looking statements&#148; within the meaning of federal
and applicable state securities laws. All statements herein that are not statements of historical fact are forward looking statements. These statements include statements regarding management&#146;s expectations for future performance, as well as
descriptions of plans and strategies and the expected results thereof. Without limiting the generality of the foregoing, statements about our expected ability to continue benefiting from the strategies developed and implemented by the Board and
management, and statements about the anticipated outcomes of these strategies, are forward looking in nature and should be interpreted accordingly. Statements about our projected stock price and the strategies that may lead to those prices are
likewise forward-looking. These statements reflect the current expectations of American Vanguard&#146;s management based on currently known facts and circumstances, and should not be construed as assurances of performance or as guaranties of the
actual outcomes. Without limiting the generality of the foregoing, forward looking statements include expectations about expected revenues, product margins, and net income, as well as factors relating to the effects on the Company&#146;s earnings of
the contested proxy solicitation currently underway. Actual results may differ from those expressed in forward looking statements, and those differences may be material and adverse. Factors that could cause actual results to differ from expectations
include the ongoing effects of the <FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic and government responses and economic conditions resulting therefrom; the effect of international exchange rates and other local, national and foreign
economic conditions; weather and climate conditions; changes in regulatory policy and in specific regulations and permitting processes that affect our products, and other risks as detailed from <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">time-to-time</FONT></FONT> in the Company&#146;s SEC reports and filings. The Company&#146;s Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the fiscal Quarter ended March&nbsp;31, 2022, filed
with the SEC on May&nbsp;4, 2022, contains a list of risk factors that may cause results to differ from expectations. These risk factors will be updated from time to time in accordance with the requirements of the Securities Exchange Act of 1934, as
amended, and the regulations thereunder (&#147;Exchange Act&#148;), or otherwise in our Exchange Act filings. The statements in this release speak only as of the date hereof, and the Company undertakes no duty to update such statements to reflect
future events or developments. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About American Vanguard </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and
management, turf and ornamentals management and public and animal health. American Vanguard is included on the Russell 2000<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>&nbsp;and Russell
3000<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>&nbsp;Indexes and the Standard&nbsp;&amp; Poor&#146;s Small Cap 600 Index. To learn more about American Vanguard, please reference the Company&#146;s web site at
www.american-vanguard.com. </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contact </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Reevemark </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul Caminiti/Nicholas Leasure </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(212) <FONT STYLE="white-space:nowrap">433-4600</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul.Caminiti@reevemark.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Nicholas.Leasure@reevemark.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MacKenzie Partners, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bob Marese </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(212) <FONT STYLE="white-space:nowrap">929-5500</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">bmarese@mackenziepartners.com </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
