On February 23, 2024, 2024, Scott Graves, a member of the Board of Directors of Savers Value Village, Inc., resigned from the Board and the Compensation Committee of the Board, effective immediately. Mr. Graves? departure is not due to any disagreement with the Company or the Board on any matter relating to the operations, policies or practices of the Company.

On February 26, 2024, upon the recommendation of the Nominating, Governance and Sustainability Committee of the Board (the ?NGS Committee?), the Board appointed Mr. Jordan Smith to fill the Board vacancy created by Mr. Graves? resignation. Mr. Smith will serve as a Class I director of the Company for a term expiring on the date of the Company?s annual meeting of stockholders to be held in 2024, until his successor is duly elected and qualified or until his earlier death, resignation or removal.

Upon the recommendation of the NGS Committee, the Board also appointed Mr. Smith to the Compensation Committee and the NGS Committee. In addition to this, upon the recommendation of the NGS Committee, the Board appointed Mr. Aaron Rosen, a member of the Board, as chairperson of the Board and as chairperson of the Compensation Committee. Mr. Rosen resigned from the Audit Committee and the NGS Committee.

Mr. Smith brings financial expertise and extensive experience in investing in and supporting high-growth, market-leading companies in the retail industry. Mr. Smith is a Partner in the Ares Private Equity Group (?Ares?). Prior to joining Ares in 2011, Mr. Smith was an Analyst at Lazard, Inc., a leading financial advisory and asset management firm, where he focused on mergers and acquisitions across various industries.

Mr. Smith currently serves on the board of directors for the parent entities of Cooper?s Hawk, LaserAway, Virgin Voyages and WHP Global. Mr. Smith previously served on the board of directors for the parent entities of DevaCurl, Farrow & Ball, Insight Global and Valet Living. Mr. Smith holds a B.S. in business administration with high honors from the Haas School of Business at the University of California, Berkeley.