Bath & Body Works, Inc. announced that Thomas J. Kuhn, an experienced lawyer, finance executive and board member, has been appointed as a new independent member of the Company's Board of Directors, effective March 10, 2023. Mr. Kuhn is currently Managing Member of Doorbrook LLC and formerly held senior roles at investment banking firm Allen & Company LLC and the law firm of Covington & Burling LLP. Mr. Kuhn is a widely respected executive and advisor whose unique background brings valuable financial, legal and corporate governance expertise to the recently refreshed Bath & Body Works Board.

Mr. Kuhn's appointment to the Bath & Body Works Board was the product of the Board's continued engagement with Third Point LLC, who recently recommended Mr. Kuhn as an additional candidate for the Board. At Third Point's recommendation, members of the Nominating and Governance Committee and the Board interviewed Mr. Kuhn, and the Board unanimously determined that Mr. Kuhn would bring highly valuable and complementary skills and experiences to the Board. Mr. Kuhn's appointment follows the recently announced appointments of independent directors Lucy Brady, President, Grocery & Snacks at Conagra Brands, who was also recommended by Third Point, and Steve Voskuil, Senior Vice President and Chief Financial Officer at The Hershey Company.

With these three new directors, the Board now comprises 13 directors, 12 of whom are independent and seven of whom are members of diverse communities: female, people of color and/or LGBTQIA+. Third Point has informed the Company that it no longer intends to nominate candidates to stand for election to the Bath & Body Works Board at the Company's 2023 Annual Meeting of Stockholders. Mr. Kuhn has served as Managing Member of Doorbrook LLC, a private advisory and investment firm, since 2022.

Prior to Doorbrook, Mr. Kuhn was Senior Advisor and Special Counsel at Oscar Health, which he joined following his employment at the law firm of Covington & Burling LLP, where he served as Of Counsel until 2021. From 2000 through 2013, Mr. Kuhn was a Managing Director at investment banking firm Allen & Company LLC. Prior to joining Allen & Company, he was the Senior Vice President and General Counsel of USA Networks, Inc. (a predecessor to IAC).