Ingram Micro Announces Extension of End Date of Merger Agreement With Tianjin Tianhai; Acquisition of Ingram Micro Remains On Track to Close in 2016

IRVINE, CA--(Marketwired - Nov 10, 2016) - Ingram Micro Inc. (NYSE: IM) today announced that the End Date by which the acquisition of Ingram Micro by Tianjin Tianhai Investment Company, Ltd. (Tianjin Tianhai) (SSE A Share: 600751 and SSE B Share: 900938), must be completed has been extended to December 15, 2016.

Following clearance last week from the Committee on Foreign Investment in the United States (CFIUS) to proceed with the transaction, the extension was made pursuant to an amendment to the merger agreement among Ingram Micro, Tianjin Tianhai and GCL Acquisition, Inc. to allow for satisfaction of the remaining closing conditions under the merger agreement, including receipt of approval from China's State Administration of Foreign Exchange (SAFE). Ingram Micro and Tianjin Tianhai continue to expect closing of the transaction to occur in 2016 as previously announced. Upon completion of the transaction, Ingram Micro will become a part of HNA Group, a Hainan-based Fortune Global 500 company.

About HNA Group
HNA Group is a global Fortune 500 company focused on Tourism, Logistics and Financial Services. Since its founding in 1993, HNA Group has evolved from a regional airline based on Hainan Island into a global company with over $90 billion of assets, $30 billion in annual revenues and an international workforce of nearly 200,000 employees, primarily across North America, Europe and Asia. HNA's Logistics business is a leader in logistics and supply chain management with capabilities in shipping and equipment manufacturing, maritime transportation, third-party payment platforms and project finance. For more information, please visit www.hnagroup.com.

About Tianjin Tianhai
Tianjin Tianhai, a Shanghai Stock Exchange traded company, has grown from a traditional marine shipping company into a modern logistics company with investments and operations across a range of market segments, including logistics, supply chain management and financial services. HNA Group is Tianjin Tianhai's largest shareholder, and the company is headquartered in Tianjin, China.

About Ingram Micro Inc.
Ingram Micro helps businesses Realize the Promise of Technology™. It delivers a full spectrum of global technology and supply chain services to businesses around the world. Deep expertise in technology solutions, mobility, cloud, and supply chain solutions enables its business partners to operate efficiently and successfully in the markets they serve. Unrivaled agility, deep market insights and the trust and dependability that come from decades of proven relationships, set Ingram Micro apart and ahead. More at www.ingrammicro.com.