Rite Aid Announces Extension of Early Tender Deadline and Amendments to Its Previously Announced Cash Tender Offer and Consent Solicitation for Its 7.500% Senior Secured Notes Due 2025

Rite Aid Corporation (NYSE: RAD) (“we,” “us,” “our” or the “Company”) today announced the results, as of 5:00 p.m., New York City time, on November 17, 2022 (the “Original Early Tender Deadline”) of its previously announced tender offer (the “Tender Offer”) to purchase for cash up to $200 million aggregate purchase price (not including any accrued and unpaid interest, the “Aggregate Maximum Purchase Price”) of the Company’s outstanding 7.500% Senior Secured Notes due 2025 (the “Notes”). The Company also announced that it is (i) extending the Original Early Tender Deadline and withdrawal deadline to 5:00 p.m., New York City time, on November 22, 2022, unless further amended in the Company’s sole discretion (as extended hereby, the “Early Tender Deadline” and “Withdrawal Deadline,” respectively), (ii) waiving the Financing Condition (as defined below) and (iii) terminating the Consent Solicitation (as defined below). The final expiration time of the Tender Offer will also be extended and the Tender Offer will expire immediately after 11:59 p.m., New York City time, on December 7, 2022, unless further extended or earlier terminated by the Company (the “Expiration Time”). The Company does not intend to make any further amendments or changes to the Tender Offer.

The terms and conditions of the Tender Offer are described in an Offer to Purchase and Consent Solicitation Statement, dated November 3, 2022, as amended by this press release (as amended and supplemented, the “Offer to Purchase and Consent Solicitation Statement”). The following table summarizes the material terms of the Tender Offer and the aggregate principal amount of Notes validly tendered and not validly withdrawn at or prior to the Original Early Tender Deadline.

Title of Notes

CUSIP Number

Aggregate Principal Amount Outstanding

Aggregate Principal Amount Tendered at the Original Early Tender Deadline

Aggregate Maximum Purchase Price

Early Tender Premium (1)(2)

Tender Offer Consideration (1)(3)

Total Consideration (1)(3)

7.500% Senior Secured Notes due 2025