On February 17, 2020, Pier 1 Imports, Inc. and various of its subsidiaries and affiliates (listed below and collectively, the “Chapter 11 Debtors”) commenced voluntary reorganization proceedings (the “Chapter 11 Proceedings”) pursuant to Chapter 11 of the United States Bankruptcy Code and were granted orders by the United States Bankruptcy Court for the Eastern District of Virginia (the “US Court”). In connection with the Chapter 11 Proceedings, the US Court appointed Pier 1 Imports, Inc. as the foreign representative of the estates of the Chapter 11 Debtors (the “Foreign Representative”). There are 8 Chapter 11 Debtors as follows:

Pier 1 Imports, Inc;

Pier 1 Assets, Inc.;

Pier 1 Licensing, Inc.;

Pier 1 Holdings, Inc.;

Pier 1 Services Company;

Pier 1 Imports (U.S.), Inc;

PIR Trading, Inc.; and

Pier 1 Value Services, LLC.

Upon application made by the Foreign Representative on February 18, 2020 the Ontario Superior Court of Justice (Commercial List) granted an order among other things recognizing the Chapter 11 Proceedings as foreign main proceedings under Part IV of the Companies’ Creditors Arrangement Act (“CCAA”), staying all proceedings against the Chapter 11 Debtors, and appointing Alvarez & Marsal Canada Inc. as the Information Officer in this proceeding.