On June 2, 2023, Piton Capital Partners LLC announced that its representatives (which includes Robert Averick, other employees of Kokino and Kokino's advisers) have had and may continue to have discussions with Gulf Island Fabrication, Inc.'s representatives (including its board of directors and management) regarding topics including: (1) Board composition, size and expenses, (2) management incentive plan, (3) possible sale of operating divisions and/or the Company, (4) possible expense savings opportunities, (5) risk management practices, (6) capital structure, and (7) capital allocation. Piton Capital also stated that its representatives have also spoken (and may continue to speak) with the Company regarding the Company's strategy, governance, business and operations, and improving the performance of the Company's stock.