Blue Bird Corp (BLBD): Spitfire Capital Fires Letter To The Board, Still Opposes Takeover

Page 11 of 26

Page 11 of 26 – SEC Filing

We are available to discuss the Proposal and our analysis at
any time.

Yours Sincerely,

Julian A.L. Allen Peter Van Roden
Managing Member Research Analyst
Spitfire Capital LLC Spitfire Capital LLC

Page 4 of 4

Follow Blue Bird Corp (NASDAQ:BLBD)

Page 11 of 26