Articles from BBRC International PTE Limited

BBRC International PTE Limited (together with its affiliates, “BBRC” or “we”) is a global, retail-focused investment firm with more than $3 billion in retail assets and over 45 years of experience building, scaling and operating consumer brands across the intimate apparel, fashion and specialty retail sectors. We own approximately 13% of the outstanding shares of Victoria’s Secret & Co. (NYSE: VSCO) (“VS” or the “Company”), making us the Company’s second-largest stockholder. Today, we have filed a preliminary proxy statement with the U.S. Securities and Exchange Commission to solicit votes AGAINST the reelection of two members of the Board of Directors (the “Board”) – Chair Donna James and Mariam Naficy – at the Company’s 2026 Annual Meeting of Stockholders (the “Annual Meeting”).

BBRC International PTE Limited (together with its affiliates, “BBRC” or “we”), which owns approximately 12.9% of the outstanding shares of Victoria’s Secret & Co. (NYSE: VSCO) (“VS” or the “Company”), today released the below letter to the Company’s Board of Directors (the “Board”). The decision to publicly release the letter follows months of attempts by BBRC to engage in good faith with the Board regarding changes that are needed to improve the Board’s composition and governance.