The portfolio companies shown represent substantially all of Sycamore Partners’ investments since 2011 (except Liquid Opportunities). Current portfolio company descriptions are as of March 31, 2019, while past portfolio companies are as of the time of exit. The specific investments identified are not representative of all of the investments purchased, sold, or recommended for the Sycamore funds and it should not be assumed that the investments identified were or will be profitable. Actual holdings will vary for each Sycamore fund and there is no guarantee that a particular fund will hold any or all of the investments. A list of all investments is available upon request.