Huntsville, AL – Remington Outdoor Company (“ROC”), one of the world’s leading designers and manufacturers of firearms, ammunition, and related products, has appointed John Flanagan as Chief Financial Officer

Mr. Flanagan has over 23 years financial experience and over five years of industry experience.  Mr. Flanagan is an innovative leader that achieved exceptional results in rapid growth environments that demand continuous improvement.  Most recently, Mr. Flanagan was the CFO for AcuSport Corporation, a leading distributor of outdoor and shooting sports products.  Prior to that, he was the CFO for Bunn-O-Matic Corporation.

“We are excited to have John join the company as we continue to transform the future,” said Anthony Acitelli, Chief Executive Officer and Chairman of the Board.  “His hands-on experience in financial management, strategic leadership and broad background including domestic and international experience within the manufacturing, distribution, retail, consumer products and service industries will play a key role in accelerating our efforts.”

Mr. Flanagan holds a Master of Business Administration from Cleveland State University Graduate School of Business and a Bachelor’s degree in accounting from John Carrol University. He also maintains a CPA license.

Madison, NC – May 16, 2018 – Remington Outdoor Company (“Remington” or “the Company”), one of the world’s leading designers and manufacturers of firearms, ammunition, and related products, announced today that it has emerged from Chapter 11 after successfully implementing its plan of reorganization (“the Plan”) previously confirmed by the Delaware bankruptcy court on May 4, 2018.

The Plan provides a comprehensive balance sheet restructuring of the Company and converts over $775 million of the Company’s debt into equity. In addition, the Plan provides the Company with a new Asset Based Loan (“ABL”) facility of $193 million, the proceeds of which will refinance its prior ABL facility in full, a new $55 million First-In, Last-Out Term Loan and a new $100 million Term Loan. As an integral part of the Plan, all trade and business claims are unimpaired and will be addressed in the Company’s normal course of business. The Plan received support from over 97% of the voting Term Loan Lenders and all of the voting Third Lien Noteholders.

As provided in the Plan, all shares of Remington’s common stock issued prior to the commencement of Remington’s bankruptcy proceeding were cancelled upon emergence, and Remington has issued new shares of common stock and, in some cases, warrants, to the holders of its previously outstanding funded debt in return for their allowed claims against Remington. The term of Remington’s previous Board of Directors expired upon emergence and a new Board of Directors shall be appointed immediately.

“It is morning in Remington country,” said Anthony Acitelli, Chief Executive Officer of Remington. Mr. Acitelli continued, “We are excited about the future – producing quality products, serving our customers, and providing good jobs for our employees.”

Remington’s legal counsel is Milbank, Tweed, Hadley & McCloy LLP, its investment banker is Lazard Freres & Co. LLC, and its financial advisor is Alvarez & Marsal. The Term Loan Lenders’ legal counsel is O’Melveny & Myers LLP and their investment banker is Ducera Partners LLC with M-III Advisory Partners, LP also advising the Term Loan Lenders. The Third Lien Noteholders’ counsel is Willkie Farr & Gallagher LLP and their investment banker is Perella Weinberg Partners LP.

Court filings and claims information may be accessed at cases.primeclerk.com/remington

www.remingtonoutdoorcompany.com