Boohoo Regulatory News (BOO)

FOR IMMEDIATE RELEASE 19 June 2023

boohoo group plc 

("boohoo")

Statement regarding Revolution Beauty Group plc

boohoo, the beneficial owner of approximately 26.6% of the issued share capital of Revolution Beauty Group plc ("Revolution Beauty") announces that it has today notified the board of Revolution Beauty of its intention to vote against the reappointment of Bob Holt, Derek Zissman, and Elizabeth Lake at the upcoming AGM of Revolution Beauty which has been convened for 27 June 2023.

boohoo has, in addition, requisitioned a general meeting of Revolution Beauty pursuant to Section 303 of the Companies Act 2006, at which ordinary resolutions will be proposed to remove Bob Holt, Elizabeth Lake and Derek Zissman as directors of Revolution Beauty, and to appoint Alistair McGeorge and Neil Catto as directors. If appointed, it is expected that Alistair will serve as interim Executive Chairman and Neil as CFO of Revolution Beauty and that the reconstituted board will then undertake a rigorous process to appoint additional independent directors. In light of this, boohoo has also requested that the existing board of Revolution Beauty does not proceed to appoint Rachel Maguire and Matthew Eatough as directors.

As Revolution Beauty's biggest shareholder, boohoo is grateful to Bob, Derek and Elizabeth for stabilising the business. However, as Revolution Beauty transitions to its next phase, where the focus must switch to growth, boohoo believes a senior leadership team with the right retail, e-commerce and consumer brands experience is required to deliver shareholder value.

Proposed Director Biographies

Alistair McGeorge

Alistair is currently the non-executive chairman of East Imperial plc and The Original Factory Shop, non-executive director of boohoo, and chair of The Retail Trust, which provides support to retail employees. He has worked within the retail industry over the last 30 years and has been CEO and/or Chairman of multiple retail brands in the UK and internationally. Alistair is a qualified Chartered Accountant.

Neil Catto

Neil has significant UK plc experience and is currently a non-executive director of tinyBuild Inc., having been CFO of boohoo from 2011 to 2022. Neil qualified as a chartered accountant with EY and spent nine years working in their Manchester, Palo Alto and Reading offices. He was previously Finance Director of dabs.com plc and has held senior financial positions in BT plc and The Carphone Warehouse Group.

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About boohoo group plc

"Leading the fashion eCommerce market"

Founded in Manchester in 2006, boohoo is an inclusive and innovative global brand targeting young, value-orientated customers, pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7.

In 2017, the group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing and free-thinking brand Nasty Gal. In March 2019, the group acquired the MissPap brand, in August 2019 the Karen Millen and Coast brands and in June 2020 the Warehouse and Oasis brands, all complementary to the group's scalable, multi-brand platform. In January 2021, the group acquired the intellectual property assets of Debenhams, with the goal of transforming a leading UK fashion and beauty retailer into a digital department store and marketplace through a new capital-light and low-risk operating model. In February 2021, the group acquired the intellectual property assets of UK brands Dorothy Perkins, Wallis and Burton. As at 28 February 2023, the boohoo group had 18 million active customers across all its brands around the world.