DXL Board reevaluates merger with FullBeauty, says existing terms not in stockholder interest

DESTINATION XL GROUP, INC.

Board conducted comprehensive reevaluation of merger of equals with FullBeauty (FBB Holdings I, Inc.).
Cites challenging consumer environment and FullBeauty's indebtedness as reasons terms are not best for stockholders.
Board engaging with FullBeauty in discussions to determine best path forward; continues to believe in industrial logic.
Separate press release issued today for Q1 FY2026 earnings (conference call at 9:00 a.m. ET).
DXL retained Guggenheim Securities as financial advisor; Greenberg Traurig as legal counsel.

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