Wonya Y. Lucas Intends to Resign from the Board of Directors of J. C. Penney Company, Inc., Effective as of July 31, 2020

Old COPPER Company, Inc., formerly J. C. Penney Company, Inc. (JCPenney) is a holding company. The Company's business consists of selling merchandise and services to consumers through its department stores and its Website at jcp.com, which utilizes applications for desktop, mobile and tablet devices. Its department stores and Website generally serves the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website. It fulfills online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers' warehouses and by in store customer pick up. The Company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney, home furnishings and appliances.