LL Flooring Board of Directors Unanimously Rejects Unsolicited Proposal from Cabinets To Go, Subsidiary of F9 Brands, Inc. - Seite 2

Dear Messrs. Sullivan and Delves:

I am writing this letter on behalf of the Board of Directors (the “Board”) of LL Flooring Holdings, Inc. (“LL Flooring” or the “Company”) in response to your letter, dated May 26, 2023, regarding your interest in acquiring LL Flooring. Since receiving your indication of interest, the Board has met several times and, with the assistance of our independent financial advisor, JP Morgan Chase & Co., and our legal advisor, Skadden, Arps, Slate, Meagher & Flom LLP, carefully reviewed and considered it along with a variety of factors and information.

Following our comprehensive review process, the Board is unanimous in its belief that the price of $5.76 per share in cash proposed in your letter significantly undervalues LL Flooring, its business and prospects. In making its determination, the Board considered LL Flooring’s attractive market position as the Company delivers high-touch service and in-store customer experience of an independent flooring retailer, combined with the value, convenience, assortment and digital capabilities of a scaled, national specialty retailer. The Board believes that despite macroeconomic headwinds LL Flooring’s future is bright and is confident in the Company’s ability to execute its business plan and achieve its growth objectives. The Company has several value enhancing initiatives in the pipeline and we firmly believe that pursuing your opportunistically-timed $5.76 per share proposal will transfer the Company’s upside potential to Cabinets To Go, LLC and away from LL Flooring’s stockholders.

Nonetheless, the Board is deeply committed to enhancing value for all of our stockholders and receptive to opportunities that will help us achieve that goal. In that spirit, the Board is open to discussions about a transaction that adequately reflects the value of LL Flooring’s business and prospects as well as the significant benefits that would accrue to F9 Investments, LLC and Cabinets To Go, LLC as a result of an acquisition of LL Flooring.

If you were to significantly increase your $5.76 per share proposal to a level that is reflective of the value of the Company, we will consider it consistent with the Board’s fiduciary responsibilities and provide you with confidential information pursuant to a customary non-disclosure and standstill agreement.

If you have an interest in communicating further on this basis, feel free to contact me at your earliest convenience.

Very truly yours,

Nancy M. Taylor