Empower reminds shareholders to vote in favor of business combination with Holley, the largest and fastest growing platform serving performance automotive enthusiasts

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BOWLING GREEN, Ky .– (COMMERCIAL THREAD) – Empower Ltd. (NYSE: “EMPW” “EMPW-UN” and “EMPW-WT”) (“Empower”), a publicly traded special purpose acquisition company, reminds its shareholders to vote in favor of approving Le Empower’s proposed business combination with Holley Intermediate Holdings, Inc. (“Holley”), the largest and fastest growing platform for performance auto enthusiasts, and related proposals will be voted on at the time. of Empower’s special meeting on July 14, 2021.

Empower’s Special Meeting of Shareholders to approve the proposed business combination will be held virtually on July 14, 2021 at 10:00 a.m. Eastern Time at the following address: https://www.cstproxy.com/empower/sm2021. Empower shareholders of record at the close of business on June 7, 2021 must submit their vote promptly and no later than 11:59 p.m. EST on July 13, 2021.

The proposed business combination is expected to close on or around July 16, 2021, subject to receipt of Empower shareholder approval and satisfaction of other customary closing conditions.

Tom Tomlinson Holley President and CEO said, “Holley has built a robust enthusiast platform, with multiple levers for growth that we are excited to bring to the public market. Our business remains strong and the recent release of exceptional first quarter results, including an upward revision of our 2021 pro forma net sales and Adjusted EBITDA outlook, is a true testament to the power of our business model. performance car enthusiasts. I couldn’t be more excited about the future growth opportunities for Holley and our family of iconic brands. For more information on Holley’s revised financial outlook, please visit Holley’s first quarter 2021 publication of results issued May 13, 2021.

It remains important that all holders of Empower shares as of June 7, 2021 – even if they have since sold their shares – vote before the July 13 deadline to ensure the deal goes on schedule.

We recommend that you exercise your voting rights online, but you can also vote by post or by telephone. You will find more information on how to vote on https://www.cstproxy.com/empower/sm2021 or, if you have a street name, following the instructions provided by your broker, the bank of the other nominee on the voting instruction form that was mailed or emailed to you. If you have not received or misplaced your voting instruction form, contact your bank, broker or other nominee to obtain your control number in order to vote.

Holders of Empower shares who need help voting or have questions about the Special Meeting can contact Empower’s attorney, Morrow Sodali LLC, at (800) 662-5200 (banks or brokers can call collect at (203) 658-9400) or email EMPW .info @ investor.morrowsodali.com.

About Holley

Holley is a leading designer, distributor and manufacturer of high performance products for the car and truck enthusiast. Holley offers the largest portfolio of iconic brands that bring innovation and inspiration to a large and diverse community of millions of car enthusiasts passionate about the performance and customization of their classic and modern cars. Holley turned the performance category upside down by prioritizing the enthusiastic consumer, developing innovative new products and creating a robust M&A process that added significant scale and diversity to its platform. For more information on Holley, visit www.holley.com.

About Empower Ltd.

Empower is a blank check company formed by MidOcean Partners whose business object is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization or similar business combination. with one or more companies. Empower’s leadership team is led by Matt Rubel, its chief executive and executive chairman of its board, and Graham Clempson, chairman of Empower. Empower raised $ 250,000,000 when it went public in October 2020 and is listed on the New York Stock Exchange under the ticker symbols “EMPW”, “EMPW-UN” and “EMPW-WT”. For more information visit www.empowermidocean.com.

Important information for investors and shareholders

In connection with the proposed business combination transaction, Empower has filed a registration statement on Form S-4 (as amended, the “registration statement”) with the Securities and Exchange Commission (“SEC ) Of the United States, which was declared effective on June 24, 2021 and includes a declaration of definitive proxy in connection with the solicitation of proxies by Empower for the vote of the shareholders of Empower on the proposed transaction and others matters as described in the registration statement, as well as the prospectus relating to the offering of securities to be issued to Empower shareholders and Holley shareholders in connection with the proposed transaction. The proxy statement / final prospectus and other proxy documents were mailed on or about June 28, 2021 to Empower shareholders of record on June 7, 2021. Investors and security holders and other interested parties are urged to read the proxy statement / final prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available, as they will contain important information about Empower, Holley and the transaction proposed. Documents relating to the proposed transaction may be obtained free of charge from the SEC’s website at www.sec.gov. Free copies of these documents can also be obtained from Empower by directing a request to: Empower Ltd., c / o MidOcean Partners, 245 Park Avenue, 38th Floor, New York, NY 10167.

Forward-looking statements

Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of section 27a of the Securities Act of 1995. 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the future financial or operational performance of Holley or Empower. For example, projections of future sales and other measures are forward-looking statements. In some cases, you may identify forward-looking statements by words such as “may”, “should”, “expect”, “intend”, “will”, “would”, “continue”, “will” “,” Will probably result “,” estimate “,” anticipate “,” believe “,” predict “,” plan “,” strategy “,” future “,” opportunity “,” plan “or the negative aspects of these terms or variations of them or similar terminology. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based on estimates and assumptions which, although believed to be reasonable by Holley and its management and Empower and its management, as the case may be, are inherently uncertain factors which could cause actual results to differ materially from current results, including these risks. and the uncertainties set out in the section entitled “Risk Factors” and “Forward-Looking Statements”; Market, Rankings, and Other Industry Data ”in Empower’s registration statement and other documents filed or to be filed with the SEC. Although Holley and Empower believe that the expectations reflected in the forward-looking statements are reasonable, nothing in this press release should be taken as a representation by any person that the forward-looking statements set forth herein will be realized or that any of the results. contemplated of these forward-looking statements will be achieved. There may be additional risks that Holley and Empower currently ignore or which Holley and Empower currently consider to be insignificant, which could also cause actual results to differ from those contained in forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Neither Holley nor Empower makes any commitment to update these forward-looking statements, except as otherwise required by law.

Participants in the call for tenders

Empower, Holley and their respective directors, officers, other officers and employees, under SEC rules, may be considered participants in the proxy solicitation of Empower shareholders in connection with the business combination. . Investors and shareholders can obtain more detailed information regarding the names and interests in the business combination of the directors and officers of Empower, and the directors and officers of Holley, in the documents filed by Empower with the SEC, including the registration statement.

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