Compensatory Arrangements of Certain Officers.

On June 21, 2019, Steven Kirshenbaum and Marc Lasry, members of the Board of Directors (the “Board”) of Ascena Retail Group, Inc. (the “Company”), each notified the Board of their decisions to resign from the Board effective as of June 30, 2019. Mr. Kirshenbaum is a member of the class of directors whose terms of office expire at the Company’s 2021 Annual Meeting Stockholders, and Mr. Lasry is a member of the class of directors whose terms of office expire at the Company’s 2019 Annual Meeting Stockholders. Mr. Kirshenbaum and Mr. Lasry each advised the Company that they have no disagreement with the Company on any matter relating to the Company’s operations, policies or practices and the decision was based solely on personal reasons. The Board has approved a reduction in the size of the Board from 12 to 10 directors effective upon the effectiveness of the resignations.

About ASCENA RETAIL GROUP, INC. (NASDAQ:ASNA)

Ascena Retail Group, Inc. is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands. The Justice segment offers apparel to girls who are aged 6 to 12. The Lane Bryant segment offers apparel to female customers in plus-sizes 14-28. The maurices segment offers women’s casual clothing, career wear, dressy apparel, active wear and accessories. The dressbarn segment consists of the specialty retail, outlet and e-commerce operations of the dressbarn brand. The Catherines segment offers classic apparel and accessories to female customers for wear-to-work and casual lifestyles. As of July 30, 2016, the Company operated approximately 4,900 stores in 49 United States’ states, the District of Columbia, Canada and Puerto Rico.