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Company Overview & Strategy

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Party City is the leading party goods and Halloween specialty retailer by revenue in North America and, we believe, the world’s largest vertically integrated supplier of decorated party goods with multiple levers to drive future growth across channels, products and geographies.

Party City operates 830 company-owned and franchise stores throughout North America. Our worldwide locations include our corporate headquarters in Elmsford, New York as well as locations throughout Asia, Europe, the Americas and Australia. The company also sells direct to customers through its e-commerce website, PartyCity.com with Buy Online Pick Up In Store and Curb Side Pick Up available at select stores.

We design, manufacture and distribute party goods found in over 40,000 retail outlets worldwide, including Party City stores as well as independent party supply stores, mass merchants, grocery retailers, dollar stores and others.

Through a series of acquisitions between 2005 and today, we have built a powerful retail operation that captures the full manufacturing-to-retail margin on a significant portion of the products sold in our stores. Our category-defining retail concept, multi-channel reach, widely recognized brands, broad and deep product offering, and low-cost global sourcing model are, we believe, significant competitive advantages which position us for continued organic and acquisition-led growth and margin expansion.


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        Stock Info

        Stock Quote

        Stock Quote: NYSE

        Party City

        NYSE:PRTY

        $8.68 +0.15 ( +1.7% ) July 28, 2021 03:22 PM Minimum 20 min delay
        Open 8.67
        Previous Close 8.53
        High 8.74
        Low 8.37
        Volume 956,336
        52-Week High 11.06
        52-Week Low 1.51

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        Contact Investor Relations

        ICR
        Farah Soi & Rachel Schacter
        203-682-8200
        investorrelations@partycity.com

        FAQ

        Where is the company’s corporate headquarters?

        80 Grasslands Road
        Elmsford, New York 10523

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        What countries does the company operate in?

        Party City is the leading party goods retailer in North America and operates the only coast-to-coast network of party superstores in the U.S. and Puerto Rico. Globally, our broad selection of decorated party supplies are available in more than 100 countries with Canada, the U.K., France, Germany and Australia among our largest international markets.


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        Who sits on the company’s BOD?

        You can view the biographies of the Party City Board of Directors here.

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        Who is on the company’s management team?

        You can view the biographies of the Party City management team here.

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        When was the company’s IPO and at what price?

        Party City made its Initial Public offering on 16 April 2015 on the New York Stock Exchange under the ticker symbol ‘PRTY’. The public offering price was $17.00 per share.

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        On what stock exchange(s) is the company traded and under what symbol?

        Party City is listed on the New York Stock Exchange under the symbol “PRTY”.

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        How can I purchase the company’s shares?

        Investments in shares of stock can be made through a registered broker or through our transfer agent, Computershare Trust Company. Computershare can be contacted at the following:

        Phone: (800) 942-5909
        Website: https://www-us.computershare.com/investor/Contact/Enquiry

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        Does the company pay a dividend on its stock?

        We do not pay dividends at this time.

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        Does the company have a direct stock purchase plan for employees of the company?

        We do not have any current plans to offer a direct stock purchase plan for employees.

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        What is the company’s CUSIP and ISIN?

        CUSIP: 702149105 ISIN: US7021491052

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        What is the company’s fiscal year end?

        The Company’s retail operations define a fiscal year (“Fiscal Year”) as the 52-week period or 53-week period ended on the Saturday nearest December 31st of each year, and define their fiscal quarters (“Fiscal Quarter”) as the four interim 13-week periods following the end of the previous Fiscal Year, except in the case of a 53-week Fiscal Year when the fourth Fiscal Quarter is extended to 14 weeks. The consolidated financial statements of the Company combine the Fiscal Year and Fiscal Quarters of the Company’s retail operations with the calendar year and calendar quarters of the Company’s wholesale operations, as the differences are not significant.

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        Who is the company’s Independent Registered Public Accounting Firm?

        Ernst & Young LLP.

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        Who is the company’s transfer agent?

        Computershare Trust Company, N.A.

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        How do I transfer stock, change the address on my shareholder account, or replace a lost stock certificate?

        Computershare Trust Company can be contacted at the following:

        Phone: (800) 942-5909
        Website: https://www-us.computershare.com/investor/Contact/Enquiry

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        Who should I contact regarding investor queries?

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        Where can I find all of the SEC filings for the company? Where can I download and view quarterly and annual reports?

        You can view all of Party City’s SEC filings here.

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        Where can I access the Form 8937 associated with the July 2020 debt exchange?

        The Form 8937 is available here.

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        How do I get added to the company’s email distribution list?

        You can sign up for Party City’s Email Alerts by clicking here.

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        Where can I get information about franchise opportunities?

        Party City is not currently offering any franchise opportunities. However if you are interested in opening an independent party retail store, you may order products directly from our wholesale customer site at www.amscan.com.

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        I’m an Anagram debtholder- where can I find Anagram’s detailed financial results?

        Debtholders may access Anagram’s financial results here:

        Please email investorrelations@partycity.com to obtain the password. Please note that the password will only be provided to debtholders of record.

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        Brad Weston , , , Director and Chief Executive Officer

        Brad Weston became our President & Chief Executive Officer effective April 1, 2020 and has been a member of our Board since April 2020. Mr. Weston joined the Company as President of the Company and Chief Executive Officer of Party City Retail Group, in July 2019. Prior to joining the Company, Mr. Weston served as Chief Executive Officer at Petco (NASDAQ: WOOF), where he held several leadership positions of increasing responsibility from 2011 to 2018. Before joining Petco, Mr. Weston held several senior executive positions at Dick’s Sporting Goods (NASDAQ: DKS) from 2006 to 2011, including Chief Merchandising Officer. Mr. Weston currently serves on the Board of Directors of Boot Barn (NYSE: BOOT). Mr. Weston holds a B.S. in business administration from the University of California, Berkeley. Mr. Weston’s extensive experience in the retail industry and his roles as Chief Executive Officer here and at Petco led to the conclusion that he should serve as a director of our Company.

        Norman S. Matthews , , , Director and Chairman

        Norman S. Matthews has been a member of our Board since May 2013 and has served as non- employee Chair of the Board since June 2018. Mr. Matthews has worked as an independent consultant and venture capitalist since 1989. From 1978 to 1988, Mr. Matthews served in various senior management positions for Federated Department Stores, Inc., including President from 1987 to 1988. Mr. Matthews currently serves as Chair of the board of directors of The Children’s Place, Inc. (NASDAQ: PLCE), and is a board member of Grocery Outlet (NASDAQ: GO) and ThredUp (NASDAQ: TDUP). Additionally, Mr. Matthews is director emeritus of The Progressive Corporation, Sunoco, Inc., Toys ‘R’ Us, Inc., Federated Department Stores, Inc., Henry Schein, Inc. and a trustee emeritus at the American Museum of Natural History. In 2005, Mr. Matthews was named as one of eight outstanding directors by the Outstanding Directors Exchange (an annual award voted on by peer directors and awarded to an outstanding director for the key role he played during a crisis, business transformation or turnaround). Mr. Matthews is a Princeton University graduate, and earned his MBA from Harvard Business School. Mr. Matthews’ extensive experience in strategic marketing and sales, his over 30 years of experience as a senior business leader in marketing and merchandising at large public companies and his valuable expertise in compensation programs and strategy led to the conclusion that he should serve as a director of our Company.

        James M. Harrison , , , Director and Vice-Chair

        James M. Harrison became our Vice Chair effective April 1, 2020 and has served on the Board since July 2012. Prior to his appointment as Vice Chair, Mr. James Harrison served as Chief Executive Officer from January 2014 to March 2020. Mr. James Harrison also served as our President from December 1997 to January 2015. From March 2002 to July 2012, Mr. James Harrison served as our Chief Operating Officer. From February 1997 to March 2002, Mr. James Harrison also served as our Chief Financial Officer and Treasurer. From February 1997 to December 1997, Mr. James Harrison served as our Secretary. Mr. James Harrison holds a B.S. in accounting from Fordham University. Mr. James Harrison’s extensive experience in the decorated party goods industry and his 20-year tenure and his role as the Vice Chair of our Company led to the conclusion that he should serve as a director of our Company.

        Joel Alsfine , , , Director

        Joel Alsfine has been a member of our Board since September 2020. Mr. Alsfine is a Senior Advisor to MSD Capital, an investment firm formed to manage the capital of Michael Dell and his family. Until July 2020, Mr. Alsfine was a Partner and the head of the Tactical Investments Group at MSD Capital. Mr. Alsfine joined MSD Capital in 2002 as an analyst focusing on investing in public equity securities and subsequently became the portfolio manager of a large, concentrated public equity portfolio. Mr. Alsfine became a Partner of MSD in February 2014. Prior to joining MSD, Mr. Alsfine worked at TG Capital Corp, a single-family investment office investing across all asset classes, McKinsey & Company, and accounting firm Fisher Hoffman Stride. Mr. Alsfine is a member of the board of Asbury Automotive Group Inc. (NYSE: ABG) and the board of Life Time Inc. He is also an independent director of CC Neuberger Principal Holdings II (NYSE: PRPB), a special purpose acquisition company. Mr. Alsfine received an MBA from Stanford Graduate School of Business and a Bachelor of Commerce (Honors) in Accounting from the University of the Witwatersrand in South Africa. Mr. Alsfine’s extensive capital markets, investment, financial and risk management experience from his executive and consulting roles, as well as his public company experience from director service and serving as an analyst focusing on public company equity, led to the conclusion that he should continue to serve as a director of our Company. Mr. Alsfine was nominated to the Board by the Nominating Parties pursuant to the Board Nomination Agreement.

        Steven J. Collins , , , Director

        Steven J. Collins has been a member of our Board since July 2012. Mr. Collins founded Exeter Capital, a private equity firm, in 2019 and serves as a Managing Director. Mr. Collins was a Managing Director at Advent International, a global private equity firm, from 2007 to 2017. Mr. Collins joined Advent in 1995 and rejoined after graduate school in 2000. Mr. Collins is a member of the board of directors of Kirkland’s Inc. (NASDAQ: KIRK) and several privately-held businesses. He was a member of the board of Five Below (NASDAQ: FIVE) from 2010 to 2015, lululemon athletica (NASDAQ: LULU) from 2014 to 2017 and Bojangles’ from 2011 to 2019. He holds a B.A./B.S. from the University of Pennsylvania’s Wharton School and an MBA from Harvard Business School. Mr. Collins’ experience serving as a director of various public and private companies and significant knowledge of the retail and consumer sectors, led to the conclusion that he should serve as a director of our Company.

        Jim Conroy , , , Director

        James G. Conroy has been a member of our Board since September 2019. Mr. Conroy has been a director and the President and Chief Executive Officer of Boot Barn (NYSE: BOOT) since 2012. Prior to joining Boot Barn, Mr. Conroy was with Claire’s Stores, Inc. from 2007 to 2012, where Mr. Conroy served as Chief Operating Officer and Interim Co-Chief Executive Officer during 2012, President from 2009 to 2012 and Executive Vice President from 2007 to 2009. During his career, he was employed by Viacom Entertainment in their Retail Group from 1996 to 1998, Kurt Salmon Associates from 2003 to 2005 and Deloitte Consulting. Mr. Conroy currently serves on the Foundation Board of Children’s Hospital of Orange County (CHOC). Mr. Conroy received a bachelor’s degree in business management and marketing, and a master’s degree in business administration from Cornell University. Mr. Conroy is qualified to serve on our board of directors because of his expertise in the strategic and operational aspects of the retail industry, which he has gained during his 27 years working in the industry.

        William S. Creekmuir , , , Director

        William S. Creekmuir has been a member of our Board since March 2016. Mr. Creekmuir is President of Pinnacle Search Partners, LLC (“Pinnacle”), a global executive search firm, and has served in that capacity since December 2015. Originally hired as a consultant to Pinnacle in 2014, he quickly assumed roles of continuing responsibility and became owner of the company in December 2015. Since January 2019, Mr. Creekmuir has served on the Board of Directors for Flexsteel Industries, Inc. (NASDAQ: FLXS). He is the Chair of its Audit and Ethics Committee and a member of its Nominating and Governance Committee. Additionally, Mr. Creekmuir has served on a number of private company advisory boards, is a member of the President’s Advisory Council at Elon University, is on the American Home Furnishings Alliance Solution Partners board, and is Chair of the Statistics Committee of the International Sleep Products Association. From October 2011 through January 2015, Mr. Creekmuir served as an independent consultant, including Pinnacle and as the Interim Chief Financial Officer of Sleep Innovations, Inc. Mr. Creekmuir served as Executive Vice President and Chief Financial Officer of Simmons Bedding Company from 2000 to 2011 and LADD Furniture, Inc. from 1992 to 2000. His earlier years were spent with Big 4 global accounting firm KPMG where he was ultimately named Partner and held responsibilities in the United States and Ireland. Mr. Creekmuir is a graduate of The University of North Carolina at Chapel Hill, and he is a CPA. Mr. Creekmuir’s extensive experience in financial executive roles led to the conclusion that he should serve as a director of our Company.

        Sarah Dodds-Brown , , , Director

        Sarah Dodds-Brown has been a member of our Board since October 2020. Since 2005, Ms. Dodds-Brown has served in a variety of leadership positions in the General Counsel’s Organization at American Express (NYSE: AXP), including currently as Executive Vice President and Managing Counsel leading the Business Legal Group. For several years, in addition to her business support responsibilities, Ms. Dodds-Brown also led the global privacy law center of excellence at American Express and helped develop the company’s principle-based approach to privacy and data governance. Ms. Dodds-Brown currently serves as an Adviser on an American Law Institute project focused on developing principles for a data economy and is active with educational and civic organizations, including Duke University, Rye Country Day School, the City of New Rochelle Planning Board and DirectWomen. Previously, Ms. Dodds-Brown worked at Paul, Weiss, Rifkind, Wharton & Garrison LLP in the firm’s M&A and private equity practices. Ms. Dodds-Brown received a JD from Columbia University School of Law and a B.A. from Duke University. Ms. Dodds-Brown’s extensive expertise in regulatory, legal, privacy, consumer and merchant matters, as well as significant experience activating cultural engagement and promoting diversity and inclusion across global organizations, led to the conclusion that she should serve as a director of our Company.

        Jennifer Fleiss , , , Director

        Jennifer Fleiss has been a member of our Board since September 2020. Ms. Fleiss is a Venture Partner at Volition Capital, a growth equity firm, since February 2021 and the Co-Founder of both Rent the Runway, Inc. (“Rent the Runway”), an online service that provides designer dress and accessory rentals, and Walmart’s text-based shopping service (previously named Jetblack), companies she started in November 2008 and March 2017, respectively. She is a board member of Party City, Rent the Runway and Apollo Strategic Growth Capital (NYSE: APSG), a special purpose acquisition company within Apollo Global Management, Inc. and is an adviser to consumer startups and venture funds. Ms. Fleiss holds an undergraduate degree from Yale University and an MBA from Harvard Business School. Ms. Fleiss’ significant executive experience, digital expertise and record of building unique marketplace platforms that disrupt the traditional shopping experience and enable leading retail businesses led to the conclusion that she should serve as a director of our Company.

        John Frascotti , , , Director

        John A. Frascotti has been a member of our Board since September 2019. Mr. Frascotti is a Special Advisor and director of Hasbro, Inc (NASDAQ: HAS), and served as Hasbro’s President and Chief Operating Officer from 2018 until his retirement on March 31, 2021. Mr. Frascotti joined Hasbro in 2008 as Executive Vice President and Chief Marketing Officer, became President of Hasbro Brands in 2014, and became President of Hasbro in 2017. In 2018, he was also named Chief Operating Officer, and became a member of Hasbro’s Board of Directors. Mr. Frascotti will not be standing for re-election to Hasbro’s Board of Directors at its Annual Meeting. Before joining Hasbro, Mr. Frascotti served in several senior executive positions at Reebok International Ltd. and myteam.com and the law firms of Mitchell, Silberberg & Knupp in Los Angeles and Palmer & Dodge in Boston. Mr. Frascotti was a member of the Board of Directors of Corus Entertainment in Toronto, Canada, the Toy Association and the Hasbro Children’s Fund. Mr. Frascotti received his B.A. in Economics from Yale University, where he graduated Phi Beta Kappa and summa cum laude, and his JD, cum laude, from Harvard Law School. We believe Mr. Frascotti is qualified to serve on our Board of Directors because of his experience as a senior executive and his extensive experience in the strategic and operational aspects of the consumer products, gaming and entertainment industry.

        Michelle Millstone-Shroff , , , Director

        Michelle Millstone-Shroff has been a member of our Board since February 2019. Ms. Millstone-Shroff most recently served as the President and Chief Operating Officer of buybuy Baby (NYSE: BBBY), the nation’s leading retailer of items for infants and toddlers, and Chief Customer Experience Officer of Bed Bath & Beyond, Inc. During her fifteen years at Bed Bath & Beyond, Inc. (NYSE: BBBY), Ms. Millstone-Shroff also served in a variety of senior roles in strategy and business development. Earlier in her career, she worked at McKinsey & Company, with a focus on retail- and consumer-oriented companies. Ms. Millstone-Shroff serves as an independent advisor to various businesses, including serving as a Senior Advisor to McKinsey & Company, a global management consulting firm, since April 2019. She also serves on the boards of directors of Public Storage (NYSE: PSA), a self-storage REIT, Neiman Marcus Group Inc. (NYSE: NMG.A), a chain of luxury department stores, Able Brands, a SPAC, and Nanit, a private technology startup that develops smart baby monitor devices. Ms. Millstone-Shroff is a graduate of Harvard Business School, where she earned an MBA with distinction, and the University of Pennsylvania, where she earned a dual B.S. summa cum laude in strategic management from The Wharton School and a B.A. in psychology summa cum laude from The College of Arts & Sciences. Ms. Millstone-Shroff’s significant strategic and operating experience at omni-channel consumer-facing businesses, including experience scaling a specialty retailer from less than $100 million in revenue to over $1 billion, led to the conclusion she should serve as a Director.

        Brad Weston , , , Director and Chief Executive Officer

        Brad Weston became our President & Chief Executive Officer effective April 1, 2020 and has been a member of our Board since April 2020. Mr. Weston joined the Company as President of the Company and Chief Executive Officer of Party City Retail Group, in July 2019. Prior to joining the Company, Mr. Weston served as Chief Executive Officer at Petco (NASDAQ: WOOF), where he held several leadership positions of increasing responsibility from 2011 to 2018. Before joining Petco, Mr. Weston held several senior executive positions at Dick’s Sporting Goods (NASDAQ: DKS) from 2006 to 2011, including Chief Merchandising Officer. Mr. Weston currently serves on the Board of Directors of Boot Barn (NYSE: BOOT). Mr. Weston holds a B.S. in business administration from the University of California, Berkeley. Mr. Weston’s extensive experience in the retail industry and his roles as Chief Executive Officer here and at Petco led to the conclusion that he should serve as a director of our Company.

        Todd Vogensen , , , Executive Vice President and Chief Financial Officer

        Todd E. Vogensen became our Executive Vice President and Chief Financial Officer in February 2020. Previously, Mr. Vogensen served as Executive Vice President—Chief Financial Officer at Chico’s FAS, Inc. from June 2015 through January 2020. He joined Chico’s FAS in October 2009, and served in roles of increasing responsibility, including Senior Vice President – Finance, and Vice President – Investor Relations. Previously, Mr. Vogensen served in executive finance roles at Michaels Stores, Inc., Gap, Inc., Hewlett Packard Company and PricewaterhouseCoopers LLP. Mr. Vogensen graduated from Arizona State University and holds a B.S. in Accountancy.

        Sean Thompson , , , Chief Commercial Officer

        Sean Thompson became Chief Merchant in November of 2019 and Chief Commercial Officer in September of 2020. Prior to joining the company, Mr. Thompson served at 7-Eleven, Inc. from 2012 to 2019, where he held several leadership positions of increasing responsibility, including SVP of Merchandising, SVP of Marketing, VP of Acquisition Integration, VP of Private Brands and Sr. Director of Merchandising. Previously, he served in merchandising and consulting roles with Target Corporation and The Farnsworth Group. Mr. Thompson holds a BA in Psychology and an MBA from Indiana University.

        Denise M. Kulikowsky , , , Chief Human Resources Officer

        Denise M. Kulikowsky became our Chief Human Resources Officer in November 2018. Prior to joining the Company, Ms. Kulikowsky served as the Vice President, Global Human Resources for The Estee Lauder Companies Inc from 2015 to 2018. Before joining The Estee Lauder Companies Inc, Ms. Kulikowsky held several senior human resources positions at Gap Inc. Ms. Kulikowsky has an undergraduate degree in Psychology from Fordham University and a Master’s degree in Counseling from The University of Pennsylvania.

        Reginald Rasch , , , Chief Legal Officer and Corporate Secretary

        Reginald Rasch became our Chief Legal Officer and Corporate Secretary on May 7, 2021. Prior to joining the Company, Mr. Rasch served as Head of Legal for Rakuten Americas, where he held several leadership positions of increasing responsibility from 2000 to 2021. Before joining Rakuten, Mr. Rasch worked as a corporate associate at New York law firms Warshaw Burstein, LLP and Stroock & Stroock & Lavan LLP and Connecticut law firm Cummings & Lockwood LLC. He is a past president and board member of the Association of Corporate Counsel, New York City Chapter and currently serves on the Advisory Board of the Minority Corporate Counsel Association. Mr. Rasch also serves on the Board of the Greater Jamaica Development Corporation. Mr. Rasch holds a B.S. in Business from the State University of New York at New Paltz and his J.D. degree from St. John’s University School of Law.

        Board of Directors/Officers Audit Committee Nominating and Governance Committee Compensation Committee
        Alsfine, Joel
        Collins, Steve
        Conroy, Jim
        Creekmuir, Bill
        Dodds-Brown, Sarah
        Fleiss, Jennifer
        Frascotti, John
        Harrison, James M.
        Matthews, Norm
        Millstone-Shroff, Michelle
        Weston, Brad
          =   Committee Member   =   Committee Chair

        Party City is committed to ensuring that the views of stockholders and other interested parties are heard by the board of directors or individual directors, as applicable, and that appropriate responses are provided to stockholders in a timely manner. Stockholders and other interested parties may communicate with any of the directors by sending a letter to the director, c/o Secretary, Party City Holdco Inc., 80 Grasslands Road, Elmsford, New York 10523. All such letters will be promptly forwarded to the respective director by the Secretary.

        In addition to regular meetings of the board of directors, Party City’s non-management directors meet in executive sessions without management participation. The board of directors has not formally selected a director to preside over the executive sessions of the non-management directors. Instead, at each executive session, the non-management directors designate a presiding director for the session.

        Supply Chain Disclosure

        Modern Slavery Statement Under the California Transparency in Supply Chains Act and UK Modern Slavery Act

        This Statement describes the activities of Party City Holdco Inc. and its consolidated subsidiaries (collectively, the “Company,” “we” or “our”) to address modern slavery.  We have provided this Statement on a consolidated basis because we employ the same policies and compliance procedures relating to modern slavery across our entire business.  However, most of our consolidated subsidiaries are not subject to the California Transparency in Supply Chains Act or the UK Modern Slavery Act.

        Supply Chain Disclosure

        Business Overview

        We are the leading party goods retailer by revenue in North America and, we believe, the largest vertically integrated supplier of decorated party goods globally by revenue. We have approximately 830 party superstore locations (including franchised stores) in the U.S. and Puerto Rico. We also operate multiple e-commerce sites, principally under the domain name PartyCity.com, and during the Halloween selling season we also operate a network of approximately 250-300 temporary stores under the Halloween City banner.

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        Addressing Risks of Modern Slavery in our Business and Supply Chain

        We are committed to principles of ethical business practice and recognition of the dignity of others, including responsible labor practices.

        We employ rigorous hiring and employment procedures in our own business.  All of the recruitment agencies and labor brokers that we use have been vetted.  In addition, they are not permitted to charge recruitment or other fees to the employees that we hire through them. 

        In addition, we have established the other policies and procedures discussed herein to mitigate the risks of modern slavery and human trafficking in our supply chains for the products we sell as a wholesaler and in our retail stores. Our approach is to focus on our direct suppliers, since this is the level of the supply chain where we believe that we have the most influence and can therefore be the most effective.

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        Employee Code of Conduct

        Our Corporate Code of Business Conduct and Ethics (the “Code of Conduct”) applies to our employees, officers and directors. In addition to indicating that employees, officers and directors must comply with all applicable government laws, rules and regulations where the Company operates, which would include those relating to labor practices, the Code of Conduct indicates that we are committed to a work environment in which all individuals are treated with respect and that we prohibit workplace discrimination and harassment. New employees are provided with a copy of the Code of Conduct upon hire, which each employee must sign and acknowledge. A copy of the Code of Conduct is also available on the Company Intranet and on the Investor Relations page of the Company’s website at www.partycity.com. Failure to comply with the Code of Conduct may result in disciplinary action, up to and including termination of employment with the Company. For a copy of the Code of Conduct, please see here.

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        Human Rights Policy Statement

        We have also adopted  a Human Rights Policy Statement (the “Human Rights Policy”), which applies to our employees and our business partners, including our suppliers. The Human Rights Policy is a statement of our principles and commitments to labor rights and working conditions, ethical business practices and responsible sourcing. These principles and commitments include treating employees with respect and dignity, not tolerating human trafficking, slavery or forced labor and ensuring a safe, healthy and fair workplace. The Human Rights Policy complements our other policies and affirms our respect for human rights.

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        Supplier Policies

        Our Vendor Standards Manual (the “VSM”), which is applicable to all of the Company’s suppliers, contains a Supplier Code of Conduct (the “Supplier Code”). It also incorporates the Human Rights Policy.

        The Supplier Code expressly prohibits the use of any form of child labor or forced or involuntary labor, including prison, bonded, indentured or otherwise, in any stage of the manufacture of our products. In addition, the Supplier Code provides that our suppliers must comply with all laws and regulations regulating local wages, work hours and benefits, including those relating to minimum wages, overtime, maximum hours, piece rates and other elements of compensation. The Supplier Code also indicates that employees are to be provided with a safe and healthy workplace in compliance with all applicable local  laws and regulations. The same standards of health and safety are required to be applied in any employee housing that is provided.

        We communicate the Supplier Code initially as part of our supplier onboarding process and thereafter periodically from time to time, including by electronic correspondence when there are updates. Our suppliers are required to certify compliance annually with the Supplier Code. In addition, the Supplier Code prohibits our suppliers from using subcontractors without our approval, and our approval is conditioned on such subcontractors signing a written agreement indicating compliance with the Supplier Code. We do training with our suppliers on the Supplier Code in addition to the internal training that is done by our suppliers. Such training is verified by independent, third party auditing firms.

         In the event of a violation of the Supplier Code, we reserve the right to either terminate our relationship with the supplier or to work with the supplier to implement corrective action to remedy the non-conformance. 

        For a copy of the VSM, including the Supplier Code, please see here.

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        Supplier Compliance Assessments

        Supplier On-boarding.  As part of onboarding a new product manufacturer, [we conduct a risk profile assessment, and based on such assessment we may conduct a survey of the manufacturer’s relevant facilities]. Among other things, the inspection and questionnaire is designed to help us determine the manufacturer’s compliance with our VSM and Supplier Code.  In connection with our assessment, we take into account the manufacturer’s geographic location(s) and the nature of its manufacturing activities for us and whether these present a greater risk of modern slavery.

        Factory AuditsFactory audits of selected manufacturers are conducted on our behalf by independent third-party auditors, including Intertek, SGS, Bureau Veritas and Elevate. The auditors conduct both announced and unannounced audits.

        Third-party manufacturers are selected for audits each calendar-year based on an internal risk assessment, the results of prior audits and any requirements of our licensors or third-party retailer customers. As part of the audit, the independent third-party auditor evaluates, among other things, a manufacturer’s compliance with wage, hour and labor laws and health, safety and environmental regulations, as well as the working and other conditions within the facility. During the audit, the independent third-party auditor will visit and inspect the site, conduct interviews with supervisors, managers and workers of the facility, and review relevant books and records of the manufacturer.

        In most instances, where a deficiency is identified, corrective action is required on a specified timeline, followed by a re-audit of the manufacturer to demonstrate that such deficiency has been remedied. In the case of a serious violation of the Supplier Code, termination of the Company’s relationship with the manufacturer may occur, particularly where corrective action is either not possible or determined to be an insufficient remedy.

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        Internal Accountability and Training

        All employees are required to undergo compliance and ethics training, including with respect to the Code of Conduct and Human Rights Policy, upon hire and annually thereafter.  Furthermore, all employees and management who have direct responsibility for supply chain management are expected to identify and address supply chain risks, including the risks of modern slavery in supply chains.

        Employees are encouraged to raise any concerns and have multiple channels to do so, including through an ethics hotline staffed by independent third-party operators, which is available at (888)270-5937 or www.partycity.ethicspoint.com. The Company’s ethics hotline is also made available for external stakeholders at (888)270-5937 or www.partycity.ethicspoint.com.

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