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Elliott Statement on Southwest Governance Changes

1. Rakesh Gangwal steps down as Chair of Southwest Airlines. 2. Elliott Investment confirms confidence in Southwest's trajectory. 3. Gangwal will remain a Board member post-resignation. 4. Elliott manages $72.7 billion in assets. 5. Elliott plans to actively engage with Southwest's management.

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FAQ

Why Bullish?

Elliott's continued engagement and confidence in Southwest's future suggests potential stability and growth.

How important is it?

Leadership transitions, especially with firm backing from significant investors, can influence market confidence and price stability.

Why Long Term?

Long-term engagement by Elliott indicates confidence in Southwest's strategic direction, which may enhance investor sentiments.

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DALUALAAL
, /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott") today released the following statement on behalf of Partner John Pike and Portfolio Manager Bobby Xu regarding Rakesh Gangwal's decision to step down from his role as Chair at Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest"): We thank Mr. Gangwal for his leadership and contributions as Southwest's independent Chair during a transformational period for the company and we are grateful that he will continue to serve as a member of the Board. We remain confident in Southwest's trajectory and we look forward to continuing our constructive engagement as the Company executes its plan to drive long-term value. About Elliott Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $72.7 billion of assets as of December 31, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.  Media Contact:          Casey Friedman                                             Elliott Investment Management L.P.                                     (212) 478-1780                                              [email protected] SOURCE Elliott Investment Management L.P. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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