KPS CAPITAL PARTNERS ANNOUNCES PROMOTION

RAHUL SEVANI ELEVATED TO PARTNER

NEW YORK,Dec. 12,2022 -- KPS Capital Partners,LP ("KPS") announced today that Rahul Sevani has been promoted to Partner.

KPS Co-Founders and Managing Partners Michael Psaros and David Shapiro,together with Managing Partner Raquel Vargas Palmer,said in a joint statement,"We congratulate Rahul on this milestone achievement. Rahul's contributions to KPS over the past decade are truly extraordinary. Rahul is a leader and an exemplar of KPS' values and culture. We look forward to working with our new Partner to continue to create value for our investors by seeing value where others do not,buying right and making businesses better. We are proud of the complete continuity of our partnership and senior leadership team since the creation of our firm over 25 years ago,as well as our remarkable growth globally."

About KPS Capital Partners,LP

KPS,through its affiliated management entities,is the manager of the KPS Special Situations Funds,a family of investment funds with approximately $14.1 billion of assets under management (as of September 30,2022). For over three decades,the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries,including basic materials,branded consumer,healthcare and luxury products,automotive parts,capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better and generates investment returns by structurally improving the strategic position,competitiveness and profitability of its portfolio companies,rather than primarily relying on financial leverage. The KPS Funds' portfolio companies currently generate aggregate annual revenues of approximately $22.0 billion,operate 232 manufacturing facilities in 27 countries,and have approximately 53,000 employees,directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail atwww.kpsfund.com.