GNC Holdings, Inc. (the “Company”) and certain of its subsidiaries (collectively with the Company, the “Debtors”) commenced voluntary cases under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). On October 7, 2020, the Debtors and Harbin consummated the Closing, thereby completing the disposition of substantially all of the Debtors’ assets in accordance with the Stalking Horse Agreement. The Closing was consummated through a series of transactions contemplated by the Stalking Horse Agreement, whereby, immediately prior to the Closing, the Debtors (a) transferred substantially all of their assets (other than their Canadian assets) to GNC Holdings, LLC, a Delaware limited liability company formed as a wholly owned subsidiary of the Company (“New GNC”) and (b) transferred substantially all of their Canadian assets to GNC Canada Holdings ULC, a Nova Scotia unlimited liability company formed as a wholly owned subsidiary of New GNC. At the Closing, Harbin, indirectly through ZT Biopharmaceutical LLC, a Delaware limited liability company and wholly owned subsidiary of Harbin, purchased 100% of the issued and outstanding equity interests in New GNC. In connection with and effective as of the Closing, each of Yong Kai Wong, Hsing Chow, Alan Wan, Michele S. Meyer and Rachel Lau are resigning from the board of directors of the Company (the “Board”) and any committees of the Board on which they served. In addition, each of Tricia K. Tolivar (Executive Vice President, Chief Financial Officer), Joshua Burris (Chief US Officer), Susan M. Canning (Senior Vice President, General Counsel and Corporate Secretary), Cameron Lawrence (Senior Vice President, Chief Accounting Officer), Ryan Ostrom (Chief Brand Officer), and Steve Piano (Senior Vice President, Chief Human Resources Officer) resigned from their respective executive officer positions with the Company and other positions they hold with the Company’s subsidiaries, effective as of the close of business on the date hereof, and assumed employment positions with New GNC. As previously disclosed, on September 18, 2020, Harbin notified the Company in writing that pursuant to Section 7.10(a) of the Stalking Horse Agreement, Harbin will not be making an offer of employment to Kenneth A. Martindale, the Company’s Chief Executive Officer, and Carl Seletz, the Company’s Chief Global Officer. Accordingly, pursuant to Section 7.10(b) of the Stalking Horse Agreement, the Company has terminated Mr. Martindale’s and Mr. Seletz’s employment with the Company, effective immediately prior to the Closing.