/C O R R E C T I O N - Authentic Brands Group/

In the news release, Authentic Brands Group Completes Acquisition of Lee, issued 03-Nov-2026 by Authentic Brands Group over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

Authentic Brands Group Completes Acquisition of Lee

Assembles Global Network of Best-in-Class Apparel Operators Across Key Markets

NEW YORK, Nov. 3, 2026 /PRNewswire/ -- Authentic Brands Group (Authentic), a global lifestyle and entertainment platform, today announced the completed acquisition of the intellectual property of Lee from Kontoor Brands, Inc. (NYSE: KTB).

"We are thrilled to welcome Lee to the Authentic family," said Jamie Salter, Founder and Executive Chairman of Authentic. "Lee has the heritage, recognition and consumer loyalty we look for in a brand. By connecting Lee to Authentic's global platform and the right partners in key markets, we see a significant opportunity to expand its reach through content, experiences and new product categories."

Authentic signed a definitive agreement to acquire the Lee intellectual property in May. Since then, it has signed a series of operating partners to grow Lee through its licensing model. These partnerships establish a strong foundation for the brand's apparel business. Additional licensees from Authentic's global network are expected to join and help expand Lee into adjacent categories, including activewear and workwear, as well as lifestyle offerings that build on the brand's heritage of denim craftsmanship, innovation and authentic American style.

Key partners signed to date include:

• One Jeanswear Group: U.S. and Canada
• Experience Group: Europe
• HiMaxx: China's mainland, Hong Kong SAR and Macao SAR
• Union Group: Mexico

Together, these apparel partners bring regional market knowledge and capabilities in product development, sourcing and distribution across key markets.

Founded in 1889, Lee is one of the most recognized names in global denim. The brand generates approximately $1.5 billion in annual retail-equivalent sales across 73 countries. Nearly 40% of that comes from outside the U.S. and Canada.

About Authentic Brands Group
Authentic Brands Group (Authentic) is a global lifestyle and entertainment platform that owns and invests in iconic intellectual property and cultural assets. It accelerates brands through a set of specialized businesses that combine powerful storytelling, premium content, unforgettable live experiences and global commerce. Through a network of more than 1,700 best-in-class licensees and strategic partners across 150 countries and expansive distribution, Authentic's brands drive more than $38 billion in annual systemwide sales worldwide.

Authentic's diversified portfolio spans more than 50 brands and reaches nearly one billion social media followers. Its roster includes Reebok, Champion, Shaquille O'Neal, David Beckham, Kevin Hart, Sports Illustrated, Elvis Presley, Muhammad Ali, Marilyn Monroe, GUESS, Care Bears, Aéropostale, Nautica, Eddie Bauer, Lee, Lucky Brand, Nine West, Brooks Brothers, Juicy Couture, Vince Camuto, Izod, Van Heusen, Dockers, Ted Baker, Hart Schaffner Marx, Vince, OVO, Barneys New York, Judith Leiber, Quiksilver, Spyder, Billabong, Volcom, Roxy, RVCA, DC Shoes, Prince, Sperry and Hunter.

For more information, visit corporate.authentic.com. Follow Authentic on LinkedIn, Instagram and WeChat.

About Lee
Founded in 1889, Lee is one of the world's most iconic denim and casual apparel brands. Known for its heritage craftsmanship, innovation and timeless style, Lee has shaped generations of culture and self-expression through authentic American design. Learn more by visiting www.lee.com.

MEDIA CONTACT

Authentic Brands Group
corporate@authentic.com

Correction: The accompanying image has been updated

SOURCE Authentic Brands Group