Tiffany & Co. Announces Receipt of Requisite Consents and Expiration of the Consent Solicitation in Respect of Its 2024 Notes and Extension of the Consent Solicitation in Respect of Its 2044 Notes

Tiffany & Co. (NYSE: TIF) (the “Company”) announced today the extension of the consent solicitation relating to its outstanding $300,000,000 4.900% senior notes due October 1, 2044 (the “2044 Notes”). The consent solicitation for the 2044 Notes will now expire at 5:00 p.m., New York City time, on December 17, 2020, unless terminated or extended by the Company (the “2044 Notes Expiration Date”). As of December 14, 2020 at 5:00 p.m., New York City time (the “Original Expiration Date”), approximately 44% of holders of the 2044 Notes had delivered valid consents in respect of the proposed amendments described in the Statement (as defined below) for such 2044 Notes. The deadline for the revocation of consents in respect of the 2044 Notes expired on the Original Expiration Date and as such, notwithstanding anything in the Statement to the contrary, validly tendered consents in respect of the 2044 Notes may no longer be revoked. No other terms of the consent solicitation in respect of the 2044 Notes are being changed at this time.

In addition, the Company announced today that holders of a majority in aggregate principal amount of its outstanding $250,000,000 3.800% senior notes due October 1, 2024 (the “2024 Notes” and together with the 2044 Notes, the “Affected Notes”) have delivered valid consents (the “Requisite Consents”) in connection with the Company’s proposed amendments for such 2024 Notes (such amendments, the “Amendments”). The terms and conditions of the amendments with respect to the Affected Notes are set forth in the consent solicitation statement dated December 8, 2020 (the “Statement”) previously provided by the Company to the holders of the Affected Notes.

The consent solicitation for the 2024 Notes expired at 5:00 p.m., New York City time, on December 14, 2020 (the “2024 Notes Expiration Date”), and revocation rights in respect thereof have expired. The Company will, subject to (i) the satisfaction or waiver of all terms and conditions to the consent solicitation for the 2024 Notes described in the Statement and (ii) the closing of the Merger (as defined below), promptly cause to be paid to each holder of the 2024 Notes who has delivered (and did not revoke) a valid consent in favor of the Amendments prior to the 2024 Notes Expiration Date a cash payment of $1.50 for each $1,000 principal amount of the 2024 Notes in respect of which such consent has been delivered (and was not revoked), subject to applicable withholding, if any (the “Consent Fee”).