The Class A Shareholders of CCA Industries Inc. met on October 2, 2015, and voted to replace Stanley Kreitman and Robert Lage as directors of the Company. The Class A Shareholders then elected Sardar Biglari and Philip Cooley to the board of directors in accordance with the agreement between The Lion Fund, L.P. and Lance Funston, dated November 14, 2014. Sardar Biglari is founder, Chairman of the Board and Chief Executive Officer of Biglari Holdings Inc. Philip L. Cooley is Vice Chairman of the Board and a director of Biglari Holdings Inc.