Group CEO and Group CFO to leave Esprit

Mr. Anders Kristiansen will resign from his successful tenure as CEO of the Esprit Group with effect as of 28. February 2021 and as such he will opt out for the re-election of his directorship at the Annual General Meeting. In June 2018, Mr. Kristiansen took over as Group CEO and has actively repositioned the Group in extremely difficult times to adapt to the challenging global retail environment. He has been instrumental in leading the Esprit Group for the global realignment. The Company thanks Mr. Kristiansen for his successful performance and leadership and wishes him all the best in his professional and personal endeavour.

Further, Mr. Johannes Schmidt-Schultes will depart from the Company with effect as of 28. February 2021 and will resign as a director of the Company by 17 December 2020. Schmidt- Schultes joined as Group CFO in October 2019 and has steered the company successfully through the Protective Shield Proceedings for the last eight months while also preparing the Group for the new economic business reality.

The Esprit Group wishes to relocate the management to Hong Kong and will immediately focus on the search for a successor.