Naked Brand (NAKD) Provides Update to Chairman's Address From 2021 Annual Meeting of Shareholders

September 24, 2021 8:35 AM EDT

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Naked Brand Group Limited (NASDAQ: NAKD) ("Naked" or the "Company"), today released an update to the chairman's address to shareholders from its recent annual meeting of shareholders on August 20, 2021 from Chairman and Chief Executive Officer Justin Davis-Rice.

On August 20, 2021, Chairman and Chief Executive Officer Justin Davis-Rice issued a chairman's address at its 2021 annual meeting of shareholders here. Subsequent to the address, Chairman and Chief Executive Officer Justin Davis-Rice has provided an update below.

September 2021 Business Update & Letter to Shareholders

Dear Shareholders,

On August 20th at our Annual Meeting of Shareholders, I provided an update on the status of our plans to find a merger or acquisition partner following the divestiture of the bricks-and-mortar operations of Bendon that resulted in an expanded balance sheet with a net cash position of $270 million USD for Naked Brand Group.

I am happy to report that after extensive searching and due diligence, we believe we have found a disruptive opportunity in the clean technology sector. Due diligence on both sides is progressing and we believe the business combination will reward our patient shareholders.

During my career as an owner and operator of many diverse businesses, I have always been attracted to commercial opportunities that benefit our environment and help contribute to the growing ESG mandates that major corporations are implementing today across the globe. This company is a market leader with cutting edge patented proprietary technology that we believe satisfies those EGS mandates. We have made significant progress over the past few weeks and believe the path to a definitive agreement is in sight. However, there can be no assurance that we will sign a definitive agreement, or if we do sign an agreement, that we will be able to close the business combination.

We look forward to unveiling the new phase of the Naked Brand story.

Yours Truly,
Justin Davis-Rice

Chairman and Chief Executive Officer

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