Revlon, Inc., along with its affiliates, filed a first amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on February 21, 2023. As per the amended plan filed, opco term loan claim of $877.6 million shall receive pro rata share of cash in the amount of $56 million or if such holder makes or is deemed to make the equity election, such holder’s pro rata share of 18% of the new common stock issued on the effective date, prior to and subject to dilution by any new common stock issued in connection with the equity and the equity subscription rights. BrandCo first lien guaranty claims are changed to 2020 term B-1 loan claims shall receive either a principal amount of take-back term loans equal to such holder’s allowed 2020 term B-1 loan claim or an amount of cash equal to the principal amount of take-back term loans.

BrandCo second lien guaranty claims are changed to 2020 term B-2 loan claims shall receive, pro rata share of 82% of the new common stock issued on the effective date, prior to and subject to dilution by any new common stock issued in connection with the equity rights and the equity subscription rights. There is no alternative transaction for BrandCo claims, unsecured notes claims, talc personal injury claims, non-qualified pension claims, trade claims and other general unsecured claims. Revlon, Inc., along with its affiliates, filed the solicitation version of amended joint plan of reorganization in the US Bankruptcy Court on February 21, 2023. As per the amended plan filed, there is no change in treatment of any claim class or source of funding.