AARON COMPANY COMPLETES ACQUISITION OF BRANDSMART USA

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ATLANTE , April 1, 2022 PRNewswire/ — The Aaron’s Company, Inc. (“from Aaron“) (NYSE: AAN), a leading omnichannel technology provider of lease-to-own and retail purchasing solutions, today announced the completion of its previously announced acquisition of BrandsMart United States (“BrandsMart“) for $230 million cash plus customary closing adjustments.

“It’s an exciting day as we welcome the BrandsMart team to Aaron’s family. Together, we are well positioned to continue executing Aaron’s mission to provide consumers with easy access to high quality products. on affordable retail rental and purchase options through a broader We believe the consolidated business can deliver strong revenue and double-digit adjusted EBITDA annual growth over the next five years and beyond,” said Douglas LindsayAaron’s CEO.

As part of the closing of the BrandsMart acquisition, Aaron’s replaced its $250 million unsecured revolving credit facility with a new credit facility that includes a $375 million revolving credit facility and five-year term $175 million unsecured term loan. At closing, Aaron had approximately $117 million outstanding borrowings under its revolving credit facility.

About Aaron’s Company
Atlanta-based The Aaron’s Company, Inc. (NYSE: AAN) is a leading omnichannel provider of lease-to-own and retail purchase solutions. Aarons engages in direct-to-consumer sales and rental-ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com. For more information, visit Aarons.com or investor.aarons.com.

About BrandsMart United States
Based at Fort LauderdaleBrandsMart United States is a leading home appliance and consumer electronics retailer in the Southeast United States and one of the nation’s largest appliance retailers with ten retail stores in Florida and Georgia and a growing e-commerce presence on brandsmartusa.com. BrandsMart United States offers hundreds of well-known brands on thousands of different items, including large and small appliances, consumer electronics, computers, furniture and housewares. For more information, visit brandsmartusa.com.

Forward-looking statements
Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements can generally be identified by the use of forward-looking terminology, such as “remain”, “believe”, “outlook”, “expect”, “assume”, “assume” and similar terminology. These risks and uncertainties include factors such as (i) any continued impact of the COVID-19 pandemic due to new variants or the effectiveness and rate of vaccination, as well as related actions taken by governmental or regulatory authorities to fight the pandemic; (ii) risks relating to disruption of ongoing business operations management time due to the acquisition; (iii) failure to realize the expected benefits of the acquisition, including projected synergies; (vi) failure to quickly and effectively integrate the acquisition; (iv) the effect of the acquisition on our results of operations and business and the ability of Aaron’s and BrandsMart to retain and hire key personnel or maintain supplier relationships; (v) risks associated with our strategy and strategic priorities, including our e-commerce and real estate repositioning and optimization initiatives, failing or being more expensive than expected; (vi) our ability to adjust prices to offset, or partially offset, inflationary pressure on the cost of our products and services; (vii) supply chain delays and disruptions, including adverse impacts on our supply chain function due to reduced supply volumes and the COVID-19 pandemic; and (viii) other risks and uncertainties discussed under “Risk Factors” in Aaron’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and any subsequent reports filed with the Securities and Exchange Commission. Statements in this press release that are “forward-looking” include, but are not limited to, statements regarding Aaron’s goals, plans, expectations, projections of expected financial benefits and results of operations after acquisition. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, Aaron’s undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this press release.

SOURCEAaron’s Company, Inc.

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