TowerBrook Capital Partners to Acquire J.Jill

NEW YORK–(BUSINESS WIRE)–TowerBrook Capital Partners L.P. (“TowerBrook”), the New
York and London-based investment management firm, today announced that it has entered into
a definitive agreement to purchase J.Jill, a leading multi-channel fashion retailer of women’s
apparel, accessories and footwear. TowerBrook will acquire J.Jill in its entirety from global
investment firm Arcapita and private equity firm Golden Gate Capital. Financial terms of the
transaction were not disclosed.

The J.Jill brand and focused product is designed for women who lead rich, full lives and is
recognized for comfort, aesthetic and quality. With a strong and evolving data-driven omnichannel
platform, J.Jill has an intense focus on establishing strong connections with new and
existing customers through unique monthly collections and an expanding base of over 250
stores, a catalog and website. With a strong foundation and a loyal customer base attracted to
the brand’s relaxed, inspired style, J.Jill is positioned to seek continued momentum and growth
in a dynamic and rapidly changing retail landscape.

Paula Bennett will remain in her current role as President and Chief Executive Officer of J.Jill,
working alongside TowerBrook to build on the company’s success.

“The sale of J.Jill reflects our industry leading success, having just completed our best sales
year in history and 12 quarters of consecutive growth. We are delighted to partner with
TowerBrook. Their investment in J.Jill provides support for future development and the ability to
maximize our potential as a brand and business. We have a shared vision to capitalize on our
understanding of our customer and the strength of our omni-channel business. We look forward
to the opportunities ahead for J.Jill to continue to delight, inspire and guide our customers,” said
Paula Bennett, President and CEO of J.Jill.

TowerBrook has deep expertise and a strong network in the consumer and retail space, working
with companies such as Jimmy Choo, True Religion, Kaporal and Phase Eight, and also brings
experience with J.Jill’s particular customer base. TowerBrook will work closely with Paula and
J.Jill’s talented team to build on its solid omni-channel foundation, pursue additional growth
opportunities and further enhance performance, continuing its track record of developing brands
and businesses to reach their full potential.

The transaction is expected to close in the second quarter of 2015.

Morgan Stanley and Houlihan Lokey acted as financial advisors to J.Jill. Macquarie Group acted
as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor
to TowerBrook Capital Partners. Fully committed financing will be provided by Jefferies and
Macquarie Group.

About J.Jill

J.Jill is easy, relaxed, inspired style. An omni-channel premier retailer of misses’, petite, tall and
women’s clothing, in addition to accessories and footwear, J.Jill is committed to delight, inspire
and guide customers with a new collection every month that is delivered through 250 stores
nationwide, 26 catalogs and a robust ecommerce experience. J.Jill is headquartered outside
Boston. For more information, please visit

About TowerBrook Capital Partners

TowerBrook Capital Partners L.P. is an investment management firm with approximately
US$7.5 billion under management and a track record of creating value for investors. The firm is
based in Europe and the USA and focuses on making investments in European and North
American companies. TowerBrook primarily pursues control-oriented investments in large and
middle market companies, partnering with highly capable management teams and seeking
situations characterized by complexity. Further information is available at