Capital Structure Update Debt exchange offer heavily oversubscribed —Since year-end 2012, we have reduced our blended cost of debt from 10.625% to 7.815% —Provides sufficient flexibility to execute future strategic initiatives Corporate cash and investments: $417.1 million —Decrease of $37.2 million from 2nd quarter balance due to investing and acquisition activities during the quarter —1 million shares of HGI acquired at a price of $12.10 —$12 million reclassification out of investments this quarter related to Frederick’s of Hollywood We continue to strengthen our capital structure and position ourselves optimally for continued growth 23
