On January 22, 2018, J. Alexander’s Holdings, Inc. issued a statement in response to reports by proxy advisory firms Institutional Shareholder Services and Glass Lewis & Co. regarding the previously announced acquisition of Ninety Nine Restaurant & Pub. J. Alexander’s disagrees with both firms’ recommendations, which do not give weight to the highly negotiated favorable terms that were achieved by J. Alexander’s when considering the acquisition of 99 Restaurants. In addition, the Company urged all shareholders to vote for the transaction on the Company’s proxy card before January 30, 2018.