On January 25, 2023, Express, Inc. completed the previously announced transactions contemplated by (i) the Investment Agreement, by and between the Company and WH Borrower, LLC, dated as of December 8, 2022 and (ii) the Membership Interest Purchase Agreement, by and among the Company, WHP and Express, LLC, dated as of December 8, 2022. On January 25, 2023, Mr. Yehuda Shmidman, Chairman and Chief Executive Officer of WHP Global, was appointed to the Company's Board of Directors as a Class II director in connection with the Closing. In connection with this appointment, the Board increased its size from ten to eleven directors.