On May 30, 2024, Camac Partners LLC announced that it has sent a letter to TuSimple Holdings Inc, stating that under the stewardship of the current management team and Board, Company is now facing regulatory issues, legal issues, substantial operating losses without a clear path to profitability, and a fractured shareholder base who desires change, shareholders are down 99% in the approximately 3 years the Company has been public, despite this, Company sat on net cash of more than $900 million as of last reported financials, which is a multiple of its market price. In addition, Camac Partners stated that the Company?s autonomous trucking operations appear to still be in the development stage at best despite running over $1.8 billion in accumulated losses, and the shareholders are also rightfully concerned that the Company has taken steps to move assets to China. Further, Camac Partners urged the Company to 1) immediately return all excess cash, which it believes to be in excess of $2.5 per share as of May 2024, 2) immediately commence a strategic review to pursue either the monetization or wind-down of Company?s ongoing business operations, 3) engage with 3rd parties to evaluate transactions which will maximize the value of Company?s substantial net operating losses.

Furthermore, Camac Partners stated that it is prepared to take all actions necessary to maximize value for shareholders, it believes the fellow shareholders are similarly dismayed with the current status quo and would be supportive of the Board taking the actions listed above, and it is available to discuss its recommendations at Company?s earliest convenience.