LL Flooring Confirms Receipt of Unsolicited, Non-Binding Proposal from Cabinets To Go, Subsidiary of F9 Brands, Inc.

LL Flooring Holdings, Inc. (“LL Flooring” or “Company”) confirmed that it has received an unsolicited, non-binding proposal from Cabinets To Go, LLC (“Cabinets To Go”), a subsidiary of F9 Brands, Inc., to acquire all of the outstanding shares of the Company for $5.76 per share in cash.

Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the LL Flooring Board of Directors will carefully review and consider the proposal in the context of LL Flooring’s strategic plan to determine the course of action that it believes is in the best interests of the Company and all of its shareholders.

The Company believes that the long-term fundamentals of LL Flooring’s business are strong and believes that it is successfully executing on its six core growth strategies. LL Flooring believes that it is well positioned to take advantage of the medium- to long-term tailwinds for repair and remodel spending, and believes that the Company’s unique positioning differentiates it from others in the market. The Board and management team are confident in the Company’s ability to deliver high-touch service combined with the value and convenience of the national brand, providing a long-term sustainable competitive advantage. LL Flooring’s Board and management team believe that with a strong balance sheet and liquidity, the Company is well-positioned for the future.

LL Flooring shareholders do not need to take any action at this time. LL Flooring does not intend to comment further on Cabinet To Go’s unsolicited proposal until the Board has completed its review.

J.P. Morgan Securities LLC is serving as financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to the Company.

About LL Flooring

LL Flooring is one of the country’s leading specialty retailers of hard-surface flooring with more than 440 stores nationwide. The Company seeks to offer the best customer experience online and in stores, with more than 500 varieties of hard-surface floors featuring a range of quality styles and on-trend designs. LL Flooring’s online tools also help empower customers to find the right solution for the space they’ve envisioned. LL Flooring’s extensive selection includes waterproof hybrid resilient, waterproof vinyl plank, solid and engineered hardwood, laminate, bamboo, porcelain tile, and cork, with a wide range of flooring enhancements and accessories to complement. LL Flooring stores are staffed with flooring experts who provide advice, Pro partnership services and installation options for all of LL Flooring’s products, the majority of which is in stock and ready for delivery.

Contact:

Bruce Williams – Investor Relations –ir@llflooring.com – (804) 420-9801

Source: LL Flooring Holdings, Inc.