Francesca's Holdings Corporation announced that on January 30, 2021, Mr. Andrew Clarke resigned from the Board of Directors of the Company as a Class II director of the Board and from his positions as President and Chief Executive Officer of the Company and from all other positions he holds with the Company and each of its subsidiaries, effective upon the closing of the Asset Sale. On January 30, 2021, Ms. Cindy Thomassee resigned from her position as Executive Vice President from all other positions she holds with the Company and each of its subsidiaries, effective upon the closing of the Asset Sale. On February 1, 2021, Mr. Joseph O'Leary and Ms. Patricia Bender resigned from their positions as Class I directors of the Board and Ms. Susan McGalla resigned from her position as a Class II director of the Board, in each case, effective immediately. The resignation of Mr. O'Leary, Ms. Bender and Ms. McGalla was not the result of a disagreement with the Company or on any matter relating to the Company's operations, policies or practices. On January 30, 2021, the Board approved the appointment Mr. Anthony Saccullo as the Company's Wind-down Officer, effective on the first business day following the closing of the Asset Sale (February 1, 2021).