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Boardriders, Inc. Announces Leadership Appointments

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Huntington Beach, California – February 6, 2018 – In the wake of the loss of CEO Pierre Agnes this past week, Boardriders, Inc. is announcing the following leadership appointments: Dave Tanner, current Chief Turnaround Officer, will assume the role and responsibilities of Chief Executive Officer effective immediately. As previously announced, Mr. Tanner had been scheduled to become CEO upon closing of the Billabong acquisition later this year. Dave’s appointment to CEO was a leadership transition that Pierre had fostered and strongly supported, and one that is firmly backed by the entire Boardriders leadership team.

Additionally, Thomas Chambolle, current Global Chief Financial Officer, will assume the additional responsibilities of Interim President of EMEA effective immediately. Thomas has been a very close partner to Pierre in Europe over the last several years and is uniquely qualified to ensure a solid transition in the region. Finally, Greg Healy will remain Global President and President of APAC. Collectively, these three accomplished veterans have worked side-by-side for the last several years to drive Boardriders’ successful turnaround and now, with the rest of the leadership team, will take Boardriders into the next phase of its evolution into the world’s leading action sports company.

Boardriders is also reaffirming its commitment to complete the acquisition of Billabong International Ltd. As previously announced, the acquisition remains subject to a number of customary closing conditions, including shareholder, court and regulatory approvals. The transaction is expected to close in the first half of 2018.

Dave Tanner said: “We are all are grief stricken over the sudden and tragic loss of our friend Pierre Agnes. At the same time, we are resolute and passionately unified in our commitment to honor Pierre’s memory and extend his legacy by driving the continued resurgence and growth of Boardriders. While it is impossible to replace Pierre’s spirit, we have filled our team with talented and creative professionals who will continue to nurture the company’s unique culture, build on our past successes, and deliver on our now even more meaningful collective mission. I am humbled and honored to lead this storied and dynamic company into this next phase and will strive to uphold and foster the principles that have guided Quiksilver, Roxy and DC Shoes over many decades.”

About Boardriders Inc.:
Boardriders, Inc., is a leading action sports and lifestyle company that designs, produces and distributes branded apparel, footwear and accessories for Boardriders around the world. The Company’s apparel and footwear brands, represent a casual lifestyle for young-minded people who are inspired by a passion for outdoor action sports. The Company’s Quiksilver, Roxy, and DC Shoes brands have authentic roots and heritage in surf, snow and skate. The Company’s products are sold in more than 110 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders shops and other Company-owned retail stores, other specialty stores, select department stores and through various e- commerce channels. For additional information, please visit our brand websites at www.quiksilver.com, http://www.roxy.com and www.dcshoes.com.

Media Contacts:
Sitrick and Company—Stuart Pfeifer, +1.310.788.2850, spfeifer@sitrick.com
/ Anita-Marie Laurie, +1.310.788.2850, anitamarie@sitrick.com.

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Boardriders, Inc. Announces Acquisition of Billabong International Ltd. Creates the World’s Leading Action Sports Company

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Huntington Beach, California – January 4, 2018 – Boardriders Inc., a global action sports and lifestyle company that owns and operates the Quiksilver, Roxy, and DC Shoes brands, announced today that it has signed a definitive agreement to acquire all of the shares of Billabong International Ltd. (ASX:BBG). The combination of Boardriders and Billabong will create the world’s leading action sports company with sales to over 7,000 wholesale customers in more than 110 countries, owned ecommerce capabilities in 35 countries, and over 630 retail stores in 28 countries. The combined company will include some of the most coveted brands in the industry as Billabong, RVCA, Element, VonZipper, and Xcel are added to the Boardriders family of brands.

The combined business will be highly diversified and will serve the global community of action sports enthusiasts with a full suite of innovative product lines and a range of community-building activities. Importantly, the strength created by the combination will also allow for deeper and more mutually beneficial partnerships with customers and suppliers, and enable additional investment in the brands and in the action sports industry overall.

Under the ownership of funds managed by Oaktree Capital Management, L.P. (“Oaktree”), Boardriders has dramatically improved its operational and financial performance since its turnaround began in February, 2016. The company rationalized its distribution, right-sized its cost structure, rewired its product development platform, and invested in a range of growth-enhancing brand, marketing and ecommerce initiatives. The successful turnaround of the company and reconfiguration of the Boardriders platform has created the opportunity to bring the Billabong brands onto the same back-office operating platform to accelerate their growth as well.

Upon closing of the transaction, Dave Tanner, currently Managing Director at Oaktree and Chief Turnaround Officer for Boardriders, will become Chief Executive Officer of Boardriders. Pierre Agnes, currently Chief Executive Officer of Boardriders, will become President of Boardriders, remain a Board member, and lead a substantial portion of the integration of the two companies.

oMr. Tanner said: “The combination of these two leading action sports companies, which include a broad range of iconic brands with deep heritage in surf, snow and skate, is very exciting for all of us who share a passion for outdoor action sports. We are committed to preserving the autonomy, creativity, and unique cultures of all the brands while we leverage our best-in-class operating platform to accelerate the growth of the brands globally. We are excited to become one family with the Billabong team, and look forward to working together arm-in-arm to achieve the promise that this combination offers.”

Mr. Agnes added: “Creating one integrated global platform will enable the combined company to enhance its investments in product innovation and quality, digital marketing, consumer engagement, and e-commerce, which ultimately will benefit our consumers and strengthen the company and industry. With a larger and stronger platform, we see many exciting opportunities for our employees, customers, suppliers, and athletes. I am excited and honored to pass the leadership baton to Dave and to continue to partner with him to drive the next phase in the evolution of Boardriders.”

Additionally, now that the agreement has been signed, it is appropriate for Boardriders to discuss a potential future role with Neil Fiske, current CEO of the Billabong Group. “We have high regard for Neil and what he has accomplished over the years. I personally have valued his keen strategic thinking and leadership. I very much hope that he will join us for the next leg of this journey and continue his contribution to these great brands,” said Matt Wilson, Chairman of Boardriders and Managing Director and Co-Portfolio Manager at Oaktree. The acquisition is subject to a number of customary closing conditions, including shareholder, court and regulatory approvals. The transaction is expected to close in the first half of 2018.

About Boardriders Inc.:
Boardriders, Inc., is a leading action sports and lifestyle company that designs, produces and distributes branded apparel, footwear and accessories for Boardriders around the world. The Company’s apparel and footwear brands, represent a casual lifestyle for young-minded people who are inspired by a passion for outdoor action sports. The Company’s Quiksilver, Roxy, and DC Shoes brands have authentic roots and heritage in surf, snow and skate. The Company’s products are sold in more than 110 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders shops and other Company-owned retail stores, other specialty stores, select department stores and through various e-commerce channels. For additional information, please visit our brand websites at www.quiksilver.com, www.roxy.com and www.dcshoes.com.

About Oaktree:
Oaktree is a leader among global investment managers specializing in alternative investments, with $100 billion in assets under management as of September 30, 2017. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

Forward-looking statements:
This press release contains forward-looking statements including, but not limited to, management’s expectations regarding certain business operations and vendor relationships. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. The Company undertakes no obligation to update these statements, which are made only as of the date of this press release.

Media Contact:
Sitrick and Company
Stuart Pfeifer, +1.310.788.2850
spfeifer@sitrick.com

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QUIKSILVER, INC. RENAMED BOARDRIDERS, INC.

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Name Change Signifies Turnaround Progress And Beginning Of New Phase In Company’s Evolution

HUNTINGTON BEACH, Calif. (March 8, 2017) – Quiksilver, Inc. today announced that it has changed its corporate name to Boardriders, Inc. (“Boardriders” and the “Company”). The new name embraces the Company’s full range of iconic action sports brands—Quiksilver, ROXY, and DC Shoes—unified by the boardriding culture and heritage. It also signals a new phase in the Company’s turnaround and the beginning of its pivot from restructuring to growth.

In February 2016, the Company’s US entity emerged from Chapter 11 reorganization and began an aggressive turnaround program led by the Company management team and the Special Situations team for funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Since that time, the Company has dramatically right-sized its cost structure, re-engineered its entire global development engine, streamlined distribution, reduced excess inventory and instilled clarity, rigor and discipline throughout the organization.

“The renaming of our company signifies the beginning of a new day at Boardriders. Our teams around the world have been building our resurgence brick-by-brick. Their passion and tireless execution, along with the loyalty of our customers, suppliers, and partners, has allowed us to complete the restructuring phase of our turnaround and to begin shifting our focus to growth,” said Pierre Agnes, Chief Executive Officer of Boardriders. “As we pivot to growth, we think it is important to recognize the importance of all three of our iconic brands, and the passion of the boardriding culture that those brands support.”

Dave Tanner, Managing Director at Oaktree and Chief Turnaround Officer for the Company added: “We are very proud of the progress in our turnaround program. The company has spent the last 18 months focused on rebuilding its foundation from the bottom up, and the results are showing. While we will always maintain the discipline of our new ways of running the business, we are excited to begin to turn our focus toward serving our customers and consumers within the boardriding community in new and innovative ways. While our industry dynamics will always require caution, this is a company that is now prepared to be playing less defense and more offense.”

In addition to the name change, Boardriders is also announcing several new exciting initiatives. First, the Company is entering into a new partnership with Accor Hotels to integrate the Quiksilver and ROXY brands into its Jo & Joe hospitality concept. In addition, the first Boardriders store in the Americas will be opening on the storied Pacific Coast Highway in Malibu, California in Fall 2017. Finally, Boardriders is celebrating the launch of the Quiksilver Generations campaign which celebrates the past, present, and future of this iconic brand heading toward the 50th anniversary of Quiksilver in 2019. More details on all of these activities will be forthcoming and, as it has for the last 14 years and through its restructuring process, the Company will be hosting the Quiksilver Pro Gold Coast from March 14th to March 25th, 2017.

About Boardriders, Inc.:

Boardriders, Inc., is a leading action sports and lifestyle company that designs, produces and distributes branded apparel, footwear and accessories for Boardriders around the world. The Company’s apparel and footwear brands, represent a casual lifestyle for young-minded people who are inspired by a passion for outdoor action sports. The Company’s Quiksilver, Roxy, and DC Shoes brands have authentic roots and heritage in surf, snow and skate. The Company’s products are sold in more than 115 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders shops and other Company-owned retail stores, other specialty stores, select department stores and through various e-commerce channels. For additional information, please visit our brand websites at www.quiksilver.com, www.roxy.com and www.dcshoes.com.

Forward-looking statements:

This press release contains forward-looking statements including, but not limited to, management’s expectations regarding certain business operations and vendor relationships. These forward-looking statements are subject to

risks and uncertainties, and actual results may differ materially. The Company undertakes no obligation to update these statements, which are made only as of the date of this press release.

Media Contact:

Boardriders, Inc.

Marie-Aurélie Duché

Marie-aurelie.duche@quiksilver-europe.com // +33 5 59 51 58 49