<SEC-DOCUMENT>0001839882-23-011345.txt : 20230501
<SEC-HEADER>0001839882-23-011345.hdr.sgml : 20230501
<ACCEPTANCE-DATETIME>20230501143555
ACCESSION NUMBER:		0001839882-23-011345
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230501
DATE AS OF CHANGE:		20230501

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWIND, INC.
		CENTRAL INDEX KEY:			0001120370
		STANDARD INDUSTRIAL CLASSIFICATION:	NONFERROUS FOUNDRIES (CASTINGS) [3360]
		IRS NUMBER:				880409160
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34278
		FILM NUMBER:		23872656

	BUSINESS ADDRESS:	
		STREET 1:		3240 S. CENTRAL AVENUE
		CITY:			CICERO
		STATE:			IL
		ZIP:			60804
		BUSINESS PHONE:		708-780-4800

	MAIL ADDRESS:	
		STREET 1:		3240 S. CENTRAL AVENUE
		CITY:			CICERO
		STATE:			IL
		ZIP:			60804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADWIND ENERGY, INC.
		DATE OF NAME CHANGE:	20080304

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TOWER TECH HOLDINGS INC.
		DATE OF NAME CHANGE:	20060210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKFOOT ENTERPRISES INC
		DATE OF NAME CHANGE:	20000726

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WM Argyle Fund, LLC
		CENTRAL INDEX KEY:			0001924978
		IRS NUMBER:				881704339
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		635 FLORENCE DRIVE
		CITY:			ELM GROVE
		STATE:			WI
		ZIP:			53122
		BUSINESS PHONE:		262-705-3180

	MAIL ADDRESS:	
		STREET 1:		635 FLORENCE DRIVE
		CITY:			ELM GROVE
		STATE:			WI
		ZIP:			53122
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>broadwind-dfan14a_050123.htm
<DESCRIPTION>DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="margin: 0; font-size: 10pt; text-align: center">UNITED STATES</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">Washington, D.C. 20549</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">SCHEDULE 14A</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">(Rule&nbsp;14a-101)</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">INFORMATION REQUIRED IN PROXY STATEMENT</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">SCHEDULE 14A INFORMATION</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">Proxy Statement Pursuant to Section 14(a) of the Securities</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">Exchange Act of 1934</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Filed by the registrant&#9;&#9;&#9744;</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Filed by a party other than the registrant&#9;&#9746;</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Check the appropriate box:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Preliminary proxy statement</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9744;</TD><TD STYLE="text-align: justify"><B>Confidential, for use of the Commission only (as permitted by
Rule 14a-6(e)(2))</B></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Definitive proxy statement</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9746;</TD><TD STYLE="text-align: justify">Definitive additional materials</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Soliciting material pursuant to Section&nbsp;240.14a-12</TD>
</TR></TABLE>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">BROADWIND,
    INC.</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name of Registrant as
    Specified in Its Charter)</TD></TR>
  </TABLE>
<P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 100%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="margin: 0; font-size: 10pt; text-align: center">WM ARGYLE FUND, LLC</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">JAY DOUGLAS ARMBURGER</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">RYAN BOGENSCHNEIDER</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">CHRISTINE M. CANDELA</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">JAMES M. ROBINSON IV</P></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name of Person(s) Filing
    Proxy Statement, if Other Than the Registrant)</TD></TR>
  </TABLE>
<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 6pt; font-size: 10pt">Payment of filing fee (Check the appropriate box):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9746;</TD><TD STYLE="text-align: justify">No fee required.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Fee paid previously with preliminary materials.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Fee computed on table in exhibit required by Item 25(b) per Exchange
Act Rules&nbsp;14a&#45;6(i)(1) and 0&#45;11.</TD>
</TR></TABLE>

<P STYLE="margin: 0; font-size: 10pt; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="margin: 0; font-size: 10pt">On May 1, 2023, WM Argyle Fund, LLC issued the following press release:</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt"><B>WM Argyle Urges Broadwind&#8217;s Employee Shareholders to Vote for Change</B></P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Milwaukee, WI &#8211; May 1, 2023 &#8211; WM Argyle Fund, LLC (&#8220;WM Argyle&#8221;
or the &#8220;Fund&#8221;), one of the largest investors in Broadwind, Inc. (NASDAQ: BWEN) (&#8220;Broadwind&#8221; or the &#8220;Company&#8221;),
today&nbsp;sent a letter to&nbsp;Broadwind&#8217;s employee shareholders urging them to let their voice be heard and bring much-needed
change to Broadwind by supporting WM Argyle&#8217;s nominees for the Board of Directors.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">WM Argyle urged the employee shareholders to support its nominees for the Board
by returning the <B>GREEN</B> proxy card and to withhold their votes on the three incumbent directors - David P. Reiland, Thomas A. Wagner
and Cary B. Wood - who are most responsible for Broadwind&#8217;s poor strategic decisions and excessive executive pay awards.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Additional information regarding WM Argyle Fund&#8217;s plan to revitalize Broadwind
may be found at&nbsp;www.BWEN2023.com.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">The text of the letter follows below:</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">***</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">To the Employee Shareholders of Broadwind:</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">It is time for Board change at Broadwind, and you have the power to make it happen.
Employees own approximately 5 percent of the outstanding shares of Broadwind through the Broadwind 401(k) retirement savings plan. As
a participant in the Broadwind 401(k) retirement savings plan, you are eligible to vote on the election of directors at the Company&#8217;s
annual meeting on May 23, and your vote could determine the outcome of the election.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Are you happy with the direction of Broadwind? Is everyone pulling their fair
share? Do you think the Board is responsive and has the best interest of the Company in mind? Does management listen to and address your
concerns and issues? We have seen enough employees&#8217; reviews online to know that all is not well at Broadwind.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Broadwind had another tough year in 2022. The Company recorded a loss of $9.7
million and its stock price fell by 11%. Yet Broadwind&#8217;s top three executives still received hundreds of thousands of dollars in
performance pay for reaching goals set by the Board. Clearly, the Board believes in rewarding executives no matter the success of the
Company. That is not good governance, plain and simple.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">More astonishing is that despite leading Broadwind to its sixth straight year
with an operating loss, the Board of Directors granted itself a 25% increase in cash pay and an 11% increase in share grants for 2022.
<U>Each director now earns $100,000 annually for sitting on the Board</U>.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">We think it&#8217;s time for change.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">That&#8217;s why we have proposed three highly qualified individuals to serve
on Broadwind&#8217;s Board. We believe that our nominees possess the necessary skills, experience, and expertise needed to guide Broadwind
towards a successful future. Their track record at their respective companies and their commitment to growth and innovation make them
ideal candidates to serve on the Board.</P>

<P STYLE="margin: 6pt 0 0 0.25in; font-size: 10pt; background-color: white"><B>Ryan Bogenschneider </B></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="font-size: 10pt; margin: 0; background-color: white">Corporate Development Consultant - Including working with the Board of Broadwind in 2016
to discuss the Company&#8217;s leadership, corporate structure, operations, financial performance, and other aspects of its business</LI>

<LI STYLE="font-size: 10pt; margin: 0; background-color: white">Completed over $10 Billion in M&amp;A and other corporate development activities</LI>

<LI STYLE="font-size: 10pt; margin: 0; background-color: white">Leader for International trade missions to secure new customers and partners</LI>

<LI STYLE="font-size: 10pt; margin: 0; background-color: white">CEO of WM Argyle Fund, LLC</LI>

</UL>
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<P STYLE="margin: 6pt 0 0 0.25in; font-size: 10pt; background-color: white"><B>Christine Candela</B></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">




<LI STYLE="font-size: 10pt; color: #1D2228; margin: 0; background-color: white">Functional Human Resource expert</LI>

<LI STYLE="font-size: 10pt; color: #1D2228; margin: 0; background-color: white">Regular advisor to boards of directors on compensation issues</LI>

<LI STYLE="font-size: 10pt; color: #1D2228; margin: 0; background-color: white">Routinely managed HR and Compensation &amp; Benefits for multi-site manufacturing
companies with thousands of employees</LI>

<LI STYLE="font-size: 10pt; color: #1D2228; margin: 0; background-color: white">Expert in executive compensation and variable incentive plans to drive
pay for performance</LI>

</UL>

<P STYLE="margin: 6pt 0 0; font-size: 10pt; text-indent: 0.25in"><B>James Robinson IV</B></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="font-size: 10pt; color: #1D2228; margin: 0; background-color: white">President of a multi-million dollar portfolio of metal fabricating companies&nbsp;</LI>

<LI STYLE="font-size: 10pt; color: #1D2228; margin: 0; background-color: white">General Counsel for two multi-billion dollar revenue manufacturing firms:
Bucyrus International ($4 billion) with 10,000 employees&nbsp;and Kohler Co. ($6.5 billion) with 36,000 employees</LI>

<LI STYLE="font-size: 10pt; color: #1D2228; margin: 0; background-color: white">Regularly provided counsel to boards of directors, including the Executive,
Audit, and HR Committees</LI>

<LI STYLE="font-size: 10pt; margin: 0; background-color: white; color: #1D2228">Completed over $100 Billion in corporate development activities</LI>

</UL>



<P STYLE="margin: 0; font-size: 10pt">Our nominees are committed and focused on building Broadwind&#8217;s success for
employees, shareholders, and other stakeholders, in contrast to the current Board, which is spending an estimated $1.6 million to defend
its failed record, block change, and preserve its pay and privileges. How many ways would you have preferred the Board spend $1.6 million?</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Furthermore, the Board is distorting our honest efforts to improve the Company
by using scare tactics and refusing to meet with us despite being a large shareholder. They are saying we are seeking to &#8220;take
over&#8221; Broadwind, even though we are proposing three directors for election to a seven-member Board. They also refused to meet with
us for more than 250 days, even though we were trying to work in a constructive, amicable manner.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">But shareholders clearly aren&#8217;t the only group the Board disdains. The Board&#8217;s
own public statements show contempt for what it calls &#8220;mid-level employees,&#8221; suggesting they do not contribute to the success
of their organizations.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">They are talking about people like you.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Our nominees understand the importance of building a strong relationship between
the Board and the Company's employees. They have shown a willingness to listen to and collaborate with employees, ensuring that their
voices are heard and that their contributions are valued.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">We propose:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.25in">&bull;</TD><TD STYLE="font-size: 10pt">Reducing excessive Board
                                            and executive compensation</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.25in">&bull;</TD><TD STYLE="font-size: 10pt">Investing in engineering
                                            and the creation of intellectual property</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.25in">&bull;</TD><TD STYLE="font-size: 10pt">Scaling the gearing business
                                            through organic growth and acquisitions</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.25in">&bull;</TD><TD STYLE="font-size: 10pt">Producing products that
                                            generate recurring high-margin aftermarket and service revenue</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.25in">&bull;</TD><TD STYLE="font-size: 10pt">Maximizing the creation
                                            and full use of the IRA tax credits &#8211; <B><U>NOT</U></B> selling them</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.25in">&bull;</TD><TD STYLE="font-size: 10pt">Prioritizing the usage
                                            of the NOLs before they expire</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0"></TD><TD STYLE="font-size: 10pt; width: 0.25in">&bull;</TD><TD STYLE="font-size: 10pt">Holding management accountable</TD></TR></TABLE>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">We will be reaching out to you directly in the weeks ahead, and we encourage you
to get in touch with us at www.BWEN2023.com to answer your questions and share your views on Broadwind.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">As employee shareholders, you play a critical role in the success of our company.
We value your input and your vote, and we hope that you will support our nominees in the upcoming Board election. Together, we can continue
to build a bright future for our company and all of its stakeholders.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Sign and return the <B>GREEN</B> proxy card today voting for each of the Argyle
nominees and let your voice be heard.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">Sincerely,</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">WM Argyle Fund</P>


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<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>



<P STYLE="margin: 0; font-size: 10pt"><B>About WM Argyle Fund</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">WM Argyle Fund, LLC, which owns 207,200 of the outstanding common shares of Broadwind,
Inc., is an investment fund specifically created to invest in Broadwind. We believe the Company has been underperforming due to strategic
errors, operational inefficiencies, and inattentive governance. We are looking to ensure the long-term performance of the Company by
reconstituting the Broadwind Board with new members.</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt"><B>Important Information</B></P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 0.25in; font-size: 10pt; background-color: #FEFEFE">WM Argyle Fund, LLC, Jay Douglas Armburger,
Ryan Bogenschneider, Christine M. Candela and James M. Robinson IV (collectively, the &#8220;Participants&#8221;) have filed with the
Securities and Exchange Commission (the &#8220;SEC&#8221;) a definitive proxy statement and accompanying form of <B>GREEN</B> universal
proxy card to be used in connection with the solicitation of proxies from the stockholders of Broadwind, Inc. (the &#8220;Company&#8221;).
Information about the Participants and a description of their direct or indirect interests by security holdings is contained in the definitive
proxy statement filed by the Participants with the SEC. All stockholders of the Company are advised to read the definitive proxy statement
and other documents related to the solicitation of proxies by the Participants when they become available, as they will contain important
information, including additional information related to the Participants. The definitive proxy statement and an accompanying <B>GREEN
</B>universal proxy card will be furnished to some or all of the Company&#8217;s stockholders and are, along with other relevant documents,
available at no charge on the SEC website at http://www.sec.gov/.</P>

<P STYLE="margin: 0; font-size: 10pt"><B>Contacts:</B></P>

<P STYLE="margin: 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0; font-size: 10pt"><B>Investors</B></P>

<P STYLE="margin: 0; font-size: 10pt">InvestorCom LLC<BR>
John Glenn Grau, 203-972-9300<BR>
info@investor-com.com</P>

<P STYLE="margin: 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0; font-size: 10pt"><B>Media</B></P>

<P STYLE="margin: 0; font-size: 10pt">Mahony Partners<BR>
Richard Mahony, 917-257-6811<BR>
info@mahonypartners.com</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><P STYLE="margin: 0; font-size: 10pt; text-align: center"><I>If you have any questions, require assistance with
    voting your proxy card,</I></P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center"><I>or need additional copies of proxy material, please
    contact InvestorCom LLC</I></P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center"><B><I>InvestorCom LLC</I></B></P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">19 Old Kings Highway S., Suite 130</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">Darien, CT 06820</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">proxy@investor-com.com</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center"><U>(203) 972-9300 or Toll-Free (877) 972-0090</U></P></TD></TR>
  </TABLE>
<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

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